LMAT · Nasdaq · Healthcare
LeMaitre Vascular, Inc. (LMAT) — Rank #235 by gross profitability (GP/assets 0.28) · ROE 13.7% · Piotroski F-Score 6 / 9.
As-of 2026-10-30 · CIK 0001158895 · all metrics point-in-time as of the filing date.
About
LeMaitre Vascular, Inc. develops, manufactures, and markets medical devices and implants used in the field of vascular surgery in the Americas, Europe, the Middle Esat, Africa, and the Asia Pacific.
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The company offers allografts, which are cryopreserved human tissue grafts used in vascular reconstruction, and cardiac repair and reconstruction; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature, as well as human cadaver tissue cryopreservation services. It provides a suite of biologic products comprising artegraft biologic graft, a bovine carotid artery used for dialysis access; XenoSure biologic patches used for vessel closure after surgical intervention; VascuCel and CardioCel biologic patches, used in vessel repair, heart repair and reconstruction, and neonatal repairs; carotid shunts that temporarily shunt the blood to the brain; biosynthetic vascular grafts indicated for lower extremity bypass and dialysis access; phlebectomy system for resection and ablation of varicose veins; LifeSpan vascular grafts, which are expanded polytetrafluoroethylene grafts; and vascular grafts used to bypass or replace diseased arteries. In addition, the company offers radiopaque tape, a medical-grade tape; 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 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.
- Industry
- Medical Instruments & Supplies
- Sector
- Healthcare
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- lemaitre.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
646
Industry
Medical Instruments & Supplies
Exchange
Nasdaq
12/12
Flags passed
LMAT passes 12/12 quality flags
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSBalance sheet stable
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Operating leverage expanding · Sequential beat (rev + EPS)
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passFCF yield, shareholder yield, and buyback activity are the primary reads at this stage.
Profitability
Does it make money well?
No warning flags · GP/assets 21st percentile of 20 SIC 3841 peers
Gross profitability (GP / assets)
0.28
Primary signal (Novy-Marx).
21st pctl of 20 SIC 3841 peers
Return on equity
13.7%
Gross margin
71.5%
84th pctl of 20 SIC 3841 peers
Revenue growth (YoY)
13.5%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
15.6%
Revenue CAGR (5Y)
14.0%
Earnings CAGR (3Y)
40.9%
FCF CAGR (3Y)
49.8%
Cash Flow Health
Is the cash real?
No warning flags · FCF 29% above net income
Free cash flow
$74.47M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
29.0%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
3.1%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net cash $376.24M, F-Score 6/9
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.52
9th of 19 SIC 3841 peers (best = lowest)
Current ratio
16.31×
100th pctl of 20 SIC 3841 peers
Quick ratio
13.76×
Net cash
$376.24M
Cash & equivalents minus total debt.
Piotroski F-Score
6 / 9
Fundamental-strength score (0-9).
Valuation
Is the price reasonable?
No warning flags
Dividend safety
Composite score
4.5 / 5
Capital allocation quality
Composite score
4.0 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports