LMAT Stock Analysis: LeMaitre Vascular | NASDAQ
Medical Instruments & Supplies | NASDAQ, USA | Market Cap: 2.108m USD | 12M Return: 16.6% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 30.2M
EPS Trend: 99.2%
Qual. Beats: 0
Rev. Trend: 99.9%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 10.5 years of data
Average return per month, with how dependable it is below — did the month move the same way every year (high) or randomly (low). Above 60 is a pattern worth trusting; under 40 is noise.
LeMaitre Vascular, Inc. (NASDAQ: LMAT) is a medical device company that develops, manufactures, and markets implants and instruments used in vascular surgery across the Americas, Europe, the Middle East, Africa, and Asia Pacific. Its product portfolio spans catheter-based interventions (embolectomy, thrombectomy, occlusion, and perfusion catheters), biologic and biosynthetic vascular grafts, patches (XenoSure, VascuCel, CardioCel), carotid shunts, valvulotomes, and closure systems, along with cryopreserved human tissue services for vascular and cardiac reconstruction. The company sells through a combination of direct sales representatives and third-party distributors, a hybrid go-to-market model common among mid-sized specialty medical device manufacturers. The medical device sector in which LMAT operates is characterized by stringent regulatory oversight (such as FDA and CE marking requirements), long product development cycles, and steady demand driven by aging populations and the prevalence of cardiovascular and peripheral vascular disease. Founded in 1983 and headquartered in Burlington, Massachusetts, the company was originally named Vascutech, Inc. before adopting its current name in April 2001.
- XenoSure biologic patches and allograft sales drive core revenue growth
- European and Asia Pacific vascular device sales expand on aging demographics
- Bolt-on acquisitions and product line extensions sustain margin expansion
| Net Income: 62.4m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.12 > 0.02 and ΔFCF/TA 1.63 > 1.0 |
| NWC/Revenue: 173.4% < 20% (prev 169.4%; Δ 3.98% < -1%) |
| CFO/TA 0.14 > 3% & CFO 87.3m > Net Income 62.4m |
| Net Debt (-156.5m) to EBITDA (96.3m): -1.62 < 3 |
| Current Ratio: 14.32 > 1.5 & < 3 |
| Outstanding Shares: last quarter (23.0m) vs 12m ago 0.58% < -2% |
| Gross Margin: 72.39% > 18% (prev 68.80%; Δ 3.59% > 0.5%) |
| Asset Turnover: 43.23% > 50% (prev 40.69%; Δ 2.54% > 0%) |
| Interest Coverage Ratio: 16.52 > 6 (EBIT TTM 85.8m / Interest Expense TTM 5.19m) |
| A: 0.71 (Total Current Assets 477.8m - Total Current Liabilities 33.4m) / Total Assets 629.5m |
| B: 0.31 (Retained Earnings 194.7m / Total Assets 629.5m) |
| C: 0.14 (EBIT TTM 85.8m / Avg Total Assets 592.8m) |
| D: 1.82 (Book Value of Equity 406.6m / Total Liabilities 222.9m) |
| Altman-Z'' = 8.53 = AAA |
| DSRI: 0.90 (Receivables 35.8m/35.1m, Revenue 256.3m/226.3m) |
| GMI: 0.95 (GM 68.80% / 72.39%) |
| AQI: 0.86 (AQ_t 0.16 / AQ_t-1 0.19) |
| SGI: 1.13 (Revenue 256.3m / 226.3m) |
| TATA: -0.04 (NI 62.4m - CFO 87.3m) / TA 629.5m) |
| Beneish M = -3.15 (Cap -4..+1) = AA |
As of July 01, 2026, the stock is trading at USD 96.00 with a total of 385,731 shares traded. Over the past week, the price has changed by +4.36%, over one month by +4.97%, over three months by -11.88% and over the past year by +16.61%.
Current recommended Stop Loss: 91.70 (which is 4.5% or 1.3 ATR below the current price).
LeMaitre Vascular has received a consensus analysts rating of 3.73. Therefore, it is recommended to hold LMAT.
- StrongBuy: 3
- Buy: 2
- Hold: 6
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 118.8 | 23.7% |
P/E Trailing = 33.9154
P/E Forward = 30.6748
P/S = 8.2252
P/B = 5.1712
P/EG = 2.5561
Revenue TTM = 256.3m USD
EBIT TTM = 85.8m USD
EBITDA TTM = 96.3m USD
Long Term Debt = 168.9m USD (from longTermDebt, last quarter)
Short Term Debt = 3.45m USD (from shortTermDebt, last quarter)
Debt = 210.8m USD (from shortLongTermDebtTotal, last quarter) + Leases 20.9m
Net Debt = -156.5m USD (calculated: Debt 210.8m - CCE 367.2m)
Enterprise Value = 1.95b USD (2.11b + Debt 210.8m - CCE 367.2m)
Interest Coverage Ratio = 16.52 (Ebit TTM 85.8m / Interest Expense TTM 5.19m)
EV/FCF = 26.89x (Enterprise Value 1.95b / FCF TTM 72.6m)
FCF Yield = 3.72% (FCF TTM 72.6m / Enterprise Value 1.95b)
FCF Margin = 28.32% (FCF TTM 72.6m / Revenue TTM 256.3m)
Net Margin = 24.35% (Net Income TTM 62.4m / Revenue TTM 256.3m)
Gross Margin = 72.39% ((Revenue TTM 256.3m - Cost of Revenue TTM 70.8m) / Revenue TTM)
Gross Margin QoQ = 72.72% (prev 71.66%)
Tobins Q-Ratio = 3.10 (Enterprise Value 1.95b / Total Assets 629.5m)
Interest Expense / Debt = 2.46% (Interest Expense 5.19m / Debt 210.8m)
Taxrate = 22.59% (18.2m / 80.6m)
NOPAT = 66.4m (EBIT 85.8m * (1 - 22.59%))
Current Ratio = 12.73 (Total Current Assets 477.8m / Total Current Liabilities 37.5m)
Debt / Equity = 0.52 (Debt 210.8m / totalStockholderEquity, last quarter 406.6m)
Debt / EBITDA = -1.62 (Net Debt -156.5m / EBITDA 96.3m)
Debt / FCF = -2.16 (Net Debt -156.5m / FCF TTM 72.6m)
Total Stockholder Equity = 385.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 10.53% (Net Income 62.4m / Total Assets 629.5m)
RoE = 16.19% (Net Income TTM 62.4m / Total Stockholder Equity 385.4m)
RoCE = 15.48% (EBIT 85.8m / Capital Employed (Equity 385.4m + L.T.Debt 168.9m))
RoIC = 11.32% (NOPAT 66.4m / Invested Capital 586.8m)
WACC = 7.26% (E(2.11b)/V(2.32b) * Re(7.79%) + D(210.8m)/V(2.32b) * Rd(2.46%) * (1-Tc(0.23)))
Discount Rate = 7.79% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 76.41 | Cagr: 1.12%
[DCF] Terminal Value 77.97% ; FCFF base≈65.6m ; Y1≈75.2m ; Y5≈110.6m
[DCF] Fair Price = 79.69 (EV 1.66b - Net Debt -156.5m = Equity 1.82b / Shares 22.9m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: 99.19 | EPS CAGR: 35.83% | SUE: 0.31 | # QB: 0
Revenue Correlation: 99.85 | Revenue CAGR: 14.02% | SUE: -0.11 | # QB: 0
EPS next Quarter (2026-09-30): EPS=0.73 | Chg30d=+1.66% | Revisions=+25% | Analysts=9
EPS current Year (2026-12-31): EPS=3.00 | Chg30d=+3.36% | Revisions=+50% | GrowthEPS=+19.1% | GrowthRev=+12.2%
EPS next Year (2027-12-31): EPS=3.26 | Chg30d=+2.24% | Revisions=+50% | GrowthEPS=+8.5% | GrowthRev=+9.2%
[Analyst] Revisions Ratio: +50%