LeMaitre Vascular, Inc.

LeMaitre Vascular, Inc.

LMATยทNASDAQ

$91.64

+0.24%
HealthcareMedical - Instruments & Supplies

LeMaitre Vascular, Inc. designs, markets, sells, services, and supports medical devices and implants for the treatment of peripheral vascular disease worldwide. It offers angioscope, a fiberoptic catheter used for viewing the lumen of a blood vessel; embolectomy catheters to remove blood clots from arteries or veins; occlusion catheters that temporarily occlude the blood flow; perfusion catheters to perfuse the blood and other fluids into the vasculature; and thrombectomy catheters, which features a silicone balloon for removing thrombi in the venous system. The company also provides carotid shunts that temporarily shunt the blood to the brain during the removal of plaque from the carotid artery in a carotid endarterectomy surgery; and radiopaque tape, a medical-grade tape applied to the skin that enables interventionists to cross-refer between the inside and the outside of a patient's body, and allows them to locate tributaries or lesions beneath the skin. In addition, it offers valvulotomes, which cut or disrupt valves in the saphenous vein to function as an artery to carry blood past diseased arteries to the lower leg or the foot; and vascular grafts to bypass or replace diseased arteries. Further, the company provides vascular and cardiac patches, which are used for closure of vessels after surgical intervention; and closure systems to attach vessels to one another with titanium clips instead of sutures. It markets its products through a direct sales force and distributors. The company was formerly known as Vascutech, Inc. and changed its name to LeMaitre Vascular, Inc. in April 2001. LeMaitre Vascular, Inc. was incorporated in 1983 and is headquartered in Burlington, Massachusetts.

At a Glance

Live Snapshot
Market Cap$2.09B
EPS2.5500
P/E Ratio35.94
Earnings Date08/04/2026

Intrinsic Alpha Methodology

Thesis Lenses

Signal ยท Driver ยท Risk

Signal

High confidence

Valuation multiple is elevated (P/E 35.9).

Valuation inputs: P/E 35.9, earnings yield +2.8%, momentum +0.2%.

If multiples stay elevated while momentum fades, downside repricing risk rises.

Driver

High confidence

Return profile is acceptable (ROE +14.7%, ROIC +9.0%).

Profitability stack: net margin +23.1%, ROE +14.7%, ROIC +9.0%.

Quality deterioration often appears in margins before it shows up in headline EPS.

Risk

High confidence

Downside profile looks controlled across current risk inputs.

Risk factors: liabilities/assets +36.1%, momentum +0.2%, net margin +23.1%.

Higher leverage with weak momentum and thin margins can amplify drawdown severity.

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LeMaitre Vascular, Inc. Market vs Earnings Trajectory

LMAT ยท NASDAQ

Loading price and EPS data...

LeMaitre Vascular, Inc.

LeMaitre Vascular, Inc. Fair Value Envelope

LMAT ยท NASDAQ

Our analysis suggests that LMAT has a fair value of HIDDEN per share in the Base Case projection. With shares currently trading at $91.64, this represents a potential HIDDEN relative to our calculated worth for LeMaitre Vascular, Inc..

Intrinsic Value
Current Price: $91.64
3Y+171.0%
5Y+143.0%
10Y+347.0%
3Y+54.0%
5Y+93.0%
10Y+180.0%
3Y+180.0%
5Y+172.0%
10Y+445.0%
3Y+220.0%
5Y+133.0%
10Y+381.0%
3Y+236.0%
5Y+134.0%
10Y+430.0%
3Y+98.0%
5Y+144.0%
10Y+504.0%
LeMaitre Vascular, Inc.

LeMaitre Vascular, Inc. Profit Bridge

LMAT ยท NASDAQ
Revenue249.60M
Cost of Goods Sold (71.06M)
Gross Profit178.54M
Operating Expenses (110.63M)
Operating Income67.91M
Interest Expense (5.18M)
Other Income/Expense7.27M
Pretax Income75.18M
Income Tax (17.45M)
Net Income57.73M
Net Income
57.73M

Profitability Analysis

Gross Margin

71.5%

Exceptional pricing power and cost management. The company retains over half of revenue after direct costs.

Operating Margin

27.2%

Outstanding operational efficiency. The company generates substantial profit from core operations.

Net Profit Margin

23.1%

Exceptional profitability. The company converts a significant portion of revenue to bottom-line earnings.

Effective Tax Rate

23.2%

Moderate tax rate typical for most corporations. Represents standard tax burden on profits.

Profitability Insight

Exceptional profitability across all levels: Strong pricing power, efficient operations, and healthy bottom line indicate a high-quality business with sustainable competitive advantages.

71.53%
Gross Profit Margin
4%
3Y+10.0%
5Y+9.0%
10Y+1.0%
27.21%
Operating Profit Margin
14%
3Y+64.0%
5Y+22.0%
10Y+48.0%
23.13%
Net Profit Margin
15%
3Y+81.0%
5Y+41.0%
10Y+95.0%
14.67%
Return on Equity
12%
3Y+91.0%
5Y+19.0%
10Y+21.0%
9.38%
Return on Assets
18%
3Y+41.0%
5Y+12.0%
10Y-10.0%
8.96%
Return on Invested Capital
16%
3Y+28.0%
5Y-7.0%
10Y-23.0%
LMAT

LeMaitre Vascular, Inc. Cash Conversion Engine

LMAT ยท NASDAQ
Net Income57.73M
Depreciation & Amortization10.42M
Stock-Based Compensation0.00
Change in Working Capital-1.75M
Others12.54M
Capital Expenditures-6.78M
Free Cash Flow74.47M

Cash Flow Quality Analysis

FCF Conversion Rate

129.0%

Excellent cash generation. The company converts earnings to cash at or above 100%, indicating high-quality earnings.

CapEx Intensity

8.3%

Asset-light business model. Low capital requirements leave more cash available for shareholders and growth investments.

FCF Growth Trend

+100.4%

Strong FCF growth demonstrates improving cash generation and business momentum. Positive signal for sustainability.

Working Capital Impact

-$1.75M

Minimal working capital impact on FCF. Changes in operating assets and liabilities well-managed.

Cash Flow Quality Insight

Exceptional cash generation: High-quality earnings converting to growing free cash flow. The company demonstrates strong pricing power, efficient operations, and disciplined capital allocation.

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LeMaitre Vascular, Inc. Funding & Solvency Profile

LMAT ยท NASDAQ
Cash & Cash Equivalents26.85M
Net Receivables35.77M
Inventory70.82M
Other Current Assets4.00M
Total Current Assets478 M
Property, Plant & Equipment48.38M
Goodwill & Intangible Assets97.62M
Long-Term Investments0.00
Other Non-Current Assets4.97M
Total Non-Current Assets53 M
Total Assets
629.53M

Financial Health Analysis

Current Ratio

14.32x

Excellent liquidity position. The company can easily cover its short-term obligations with substantial cushion.

Debt-to-Equity Ratio

0.55x

Balanced capital structure with moderate leverage. Equity exceeds debt, suggesting healthy financial stability.

Working Capital

444 M

Strong working capital position provides significant operational flexibility and financial cushion.

Asset Composition

76% Current

Asset-light business model with high liquidity. Majority of assets are easily convertible to cash.

Financial Health Insight

Strong financial foundation: Excellent liquidity combined with conservative leverage suggests the company is well-positioned to weather economic uncertainties and fund growth opportunities.

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LeMaitre Vascular, Inc. Street Expectations Map

LMAT ยท NASDAQ

Wall Street analysts project that LMAT stock may rise significantly over the coming 12 months. The consensus 1-year price target stands at 127.50, with estimates ranging from a low of 120.00 to a high of 135.00.

Lowest Target
120.00
30.95%
Consensus Target
127.50
39.13%
Highest Target
135.00
47.32%

The consensus 1-year price target stands at 127.50, with estimates ranging from a low of 120.00 to a high of 135.00.

Analyst Consensus Analysis

Upside Potential

+39.1%

Substantial upside potential. Analysts see significant value gap, suggesting the stock may be materially undervalued at current levels.

Analyst Agreement

11.8% spread

High analyst agreement. Narrow target range indicates strong consensus on valuation, suggesting clear investment thesis and predictable outlook.

Analyst Conviction

Very High

Strong buy conviction: High upside with tight consensus suggests compelling investment opportunity backed by analyst confidence.

Market Sentiment Insight

Rare opportunity: Exceptional upside potential with strong analyst consensus creates a compelling setup. The combination of significant price target premium and tight agreement suggests high-conviction undervaluation that may attract institutional capital.

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LeMaitre Vascular, Inc. Insider Positioning

LMAT ยท NASDAQ

During the last 12 months, insiders have sold $30.48M worth of LMAT shares, with no buying activity reported.

3 Months

Bought

0

0.00

Sold

64.3K

6.98M

Net Activity

-7.0M

-$6.98M

3-6 Months

Bought

0

0.00

Sold

215.4K

23.06M

Net Activity

-23.1M

-$23.06M

6-9 Months

Bought

0

0.00

Sold

0

0.00

Net Activity

+0

+$0

9-12 Months

Bought

0

0.00

Sold

4.7K

434.59K

Net Activity

-435K

-$435K

Top Buyers

No buying activity

Top Sellers

1
LGW

Lemaitre George W

Director, Officer: Chairman And Ceo

252.4K sharesโ€ข4 transactions

$27.08M

2
RDB

Roberts David B

Director, Officer: President And Director

15.5K sharesโ€ข3 transactions

$1.60M

3
KTG

Kamke Trent G

Officer: Senior V. P., Operations

6.6K sharesโ€ข3 transactions

$713K

4
RBA

Ross Bridget A

Director

5.0K sharesโ€ข1 transactions

$560K

5
JLJ

Jasinski Lawrence J

Director

4.9K sharesโ€ข2 transactions

$524K

Insider Activity Analysis

Net Insider Sentiment

Bearish

Strong bearish signal with $30.48M net selling. Heavy insider selling may indicate concerns about valuation or near-term prospects.

Buy/Sell Ratio

0.00:1

Very poor ratio. Heavy selling with minimal buying suggests insiders may be concerned about valuation or outlook.

Recent Trend (3 Months)

$6.98M

Heavy recent selling activity. Recent insider sales notably exceed purchasesโ€”may warrant investigation into company developments.

Insider Participation

High Selling

5 insider sellers vs. 0 buyers. Widespread selling across multiple insiders may signal concerns.

Insider Activity Insight

Multiple red flags: Heavy selling, numerous sellers, and continued recent selling create a concerning pattern. Investigate fundamental drivers and consider whether company guidance or industry conditions have deteriorated.

0.23%
Dividend Yield
-7%
3Y-16.0%
5Y+1.0%
10Y-64.0%
ย 

lmat Dividend History

LMAT
10Y CAGR +19%
Latest $0.25
Annual $0.9
5 year growth trend
Last Period: +0%