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 $3.3B against $1.9B — 1.8× the size. LeMaitre Vascular, Inc. trades at the lower P/E: 28.1× against 382×. 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 28.11 381.57 34.17
P/S 7.10 3.63 2.83
P/B 4.43 8.45 2.82
Price to free cash flow 25.25 152.23 25.69
EV/EBITDA 18.70 51.14 16.08
EV/Sales 6.32 3.31 3.06
Earnings yield 3.56% 0.26% (1.84%)
Free cash flow yield 3.96% 0.66% 0.17%

Profitability

Metric LMAT WRBY Medical Instruments & Supplies median
Gross margin 72.90% 54.68% 54.62%
Operating margin 29.46% 0.17% 1.64%
Net margin 25.02% 0.85% 0.00%
Free cash flow margin 28.13% 2.39% 1.61%
Return on equity 16.77% 2.06% 0.00%
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% 9.20%
EPS growth (last fiscal year) 30.57% 105.88% —
Revenue growth, 5-year CAGR 14.05% 17.23% 9.48%
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 0.08
Current ratio 16.31 2.27 2.49
Net debt to EBITDA (2.40) (5.92) 0.83

Dividend

Metric LMAT WRBY Medical Instruments & Supplies median
Dividend yield 0.92% — 0.99%
Payout ratio 0.47 0.00 0.00

Size

Metric LMAT WRBY Medical Instruments & Supplies median
Market cap 1.85b 3.28b 938.39m

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