LeMaitre Vascular, Inc. (LMAT) vs Warby Parker Inc. (WRBY)

LeMaitre Vascular, Inc. and Warby Parker Inc. are both Medical Instruments & Supplies companies. Warby Parker Inc. is the larger, with a market value of $3.0B against $1.9B — 1.6× the size. LeMaitre Vascular, Inc. trades at the lower P/E: 27.9× against 334×. LeMaitre Vascular, Inc. grew revenue faster over the last twelve months: 11.9% against 11.0%. LeMaitre Vascular, Inc. has the higher net margin (25.0% vs 0.85%) and the higher return on invested capital (22.7% vs 0.98%). Across the 22 metrics below, LeMaitre Vascular, Inc. leads on 16 and Warby Parker Inc. on 6.

Valuation

Metric LMAT WRBY Medical Instruments & Supplies median
P/E 27.87 334.29 33.75
P/S 7.04 3.18 2.52
P/B 4.40 7.40 2.48
Price to free cash flow 25.03 133.36 25.19
EV/EBITDA 18.52 44.19 14.62
EV/Sales 6.26 2.86 2.88
Earnings yield 3.59% 0.30% (2.67%)
Free cash flow yield 3.99% 0.75% 0.09%

Profitability

Metric LMAT WRBY Medical Instruments & Supplies median
Gross margin 72.90% 54.68% 54.29%
Operating margin 29.46% 0.17% 1.07%
Net margin 25.02% 0.85% (1.61%)
Free cash flow margin 28.13% 2.39% 1.08%
Return on equity 16.77% 2.06% (1.32%)
Return on assets 10.78% 1.05% 0.00%
Return on invested capital 22.67% 0.98% 0.00%

Growth

Metric LMAT WRBY Medical Instruments & Supplies median
Revenue growth (TTM) 11.85% 10.99% 8.85%
EPS growth (last fiscal year) 30.57% 105.88% 8.65%
Revenue growth, 5-year CAGR 14.05% 17.23% 9.17%
Net income growth, 5-year CAGR 22.16% 0.00% 0.00%

Health

Metric LMAT WRBY Medical Instruments & Supplies median
Debt to equity 0.40 0.00 0.10
Current ratio 16.31 2.27 2.48
Net debt to EBITDA (2.40) (5.92) 0.89

Dividend

Metric LMAT WRBY Medical Instruments & Supplies median
Dividend yield 1.18% — 1.11%
Payout ratio 0.33 — 0.27

Size

Metric LMAT WRBY Medical Instruments & Supplies median
Market cap 1.90b 3.04b 619.84m

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