Lemaitre Vascular Inc

Health Care
Medical/Dental Instruments
www.lemaitre.com

Earnings Score
Moat Score
Safety Score
Final Score

Market Cap $1.84B
PE 42
Debt $167.77M
Cash $25.61M
EV $1.98B
FCF $37.16M

Earnings

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Sales & Net Margins

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Earnings	$44.04M
EBIT	$56.88M
ROE	13%
ROA	10%
FCF	$37.16M
Equity	$337.29M
Growth Stability	94%
PE	41.81
PEG	2.65
PB	5.46
P/FCF	49.54
P/S	8.37
Price/Cash	0.01
Debt/Equity	0.5
Debt/FCF	4.51
Net Margins	20%
Gross Margins	69%
Op. Margins	26%
Earnings CAGR	13%
Sales Growth YoY	14%
Sales Growth QoQ	2%
Sales CAGR	12%
FCF CAGR	12%
Equity CAGR	19%
Earnings Stability	0.75
Earnings Growth YoY	32%
Earnings Growth QoQ	0%
Earnings CAGR 5Y	16%

Sales CAGR 5Y	14%
FCF CAGR 5Y	8%
Equity CAGR 5Y	19%
Earnings CAGR 3Y	14%
Sales CAGR 3Y	14%
FCF CAGR 3Y	14%
Equity CAGR 3Y	11%
Market Cap	$1.84B
Revenue	$219.86M
Dividend Yield	1%
Payout Ratio	33%
Assets	$551.82M
Total Debt	$167.77M
Cash	$25.61M
Shares Outstanding	22.45M
EV	1.98B
Earnings Score	91%
Moat Score	93%
Safety Score	87%
Final Score	90%
Working Capital	371.59M
Current Ratio	13.14
Gross Profit	$150.90M
Shares Growth 3y	1%
Equity Growth QoQ	2%
Equity Growth YoY	13%

Assets & ROA

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Stockholders Equity & ROE

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LeMaitre Vascular Inc manufactures and distributes medical devices for the treatment of peripheral vascular disease. Its products are primarily used during open vascular surgery and address several anatomical areas, such as the carotid, lower extremities, upper extremities, and aorta. The firm's lower extremities product line contributes the largest proportion of revenue, followed by the carotid product line. LeMaitre's surgical devices include angioscopes, balloon catheters, carotid shunts, phlebectomy devices, vascular grafts, vascular patches, and vessel closure systems. LeMaitre generates the majority of its revenue in the United States.

SEC Filings

Direct access to Lemaitre Vascular Inc (LMAT) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Lemaitre Vascular Inc compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Lemaitre Vascular Inc compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 13%

Stability 75%

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Lemaitre Vascular Inc Discounted Cash Flow

Fully customizable DCF calculator online for Lemaitre Vascular Inc.

Years

Calculation mode

= $868M

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$37M	$42M	$47M	$52M	$59M	$66M	$74M	$83M	$93M	$105M	$118M	$1.2B
DCF		$38M	$39M	$39M	$40M	$41M	$42M	$43M	$44M	$44M	$45M	$453M
Value	$868M

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Net Margins	10%	12%	17%	22%	15%	16%	17%	13%	16%	20%	20%
ROA	-	16%	17%	19%	12%	11%	12%	9%	11%	10%	10%
ROE	-	12%	16%	18%	12%	12%	11%	8%	10%	13%	13%

Good Net Margins (20.03%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	TTM
Debt over FCF	-	-	-	-	0	1.12	0	-	0	4.51	4.51
Debt over Equity	-	-	-	-	0	0.21	0	-	0	0.5	0.5
Growth Stability	-	-	-	100%	100%	100%	100%	94%	100%	100%	94%

Bad Debt/FCF ratio (4.51)

Net Margins are too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Good Debt/Equity ratio (0.5)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (94%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2015	12/2016	12/2017	12/2018	12/2019	12/2020	12/2021	12/2022	12/2023	12/2024	CAGR 5Y
Revenue YoY growth	-	14%	13%	5%	11%	10%	19%	5%	20%	14%	14%
Earnings YoY growth	-	37%	62%	34%	-22%	18%	27%	-23%	46%	46%	16%
Equity YoY growth	-	12%	25%	19%	14%	16%	47%	6%	11%	13%	19%
FCF YoY growth	-	53%	17%	0%	-37%	205%	-5%	-27%	33%	26%	8%