LEMAITRE VASCULAR INC LMAT

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived Nasdaq

We are a global provider of medical devices and human tissue cryopreservation services largely used in the treatment of peripheral vascular disease, end-stage renal disease, and cardiovascular disease. We develop, manufacture, and market vascular devices to address the needs of vascular surgeons and, to a lesser degree, other specialties such as cardiac surgeons, general surgeons, and neurosurgeons. Our diversified portfolio of devices consists of brand name products that are used in arteries and veins and are well known to vascular surgeons. Our principal product offerings are sold globally, primarily in the United States, Europe, Canada and Asia Pacific. We estimate that the annual worldwide market for peripheral vascular devices exceeds $9 billion, within which we estimate that the market for our products is approximately $1 billion.

Last close 84.45 2026-10-23
Market cap $1.93B 2026-06-30 share count
52-week range 78.22 - 118.01

Valuation FY2025 figures against the last close

P/S7.7x
P/E33.5x
P/FCF25.9x
EV/EBITDA24.7x
Dividend yield0.9%
Diluted EPS2.52

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Other countries
  • Germany
  • Canada
  • United Kingdom
Revenue by geography, 5 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 141.6M (56.7%) 57% United States Other countries, FY2025: 61.7M (24.7%) 25% Other countries Germany, FY2025: 17.9M (7.2%) 7% Germany Canada, FY2025: 15.3M (6.1%) 6% Canada United Kingdom, FY2025: 13.2M (5.3%) 5% FY2024 United States, FY2024: 128.7M (58.6%) 59% Other countries, FY2024: 52.1M (23.7%) 24% Germany, FY2024: 14.4M (6.6%) 7% Canada, FY2024: 13.7M (6.2%) 6% United Kingdom, FY2024: 11M (5.0%) 5% FY2023 United States, FY2023: 117.8M (60.9%) 61% Other countries, FY2023: 42.9M (22.2%) 22% Germany, FY2023: 13.4M (6.9%) 7% Canada, FY2023: 10.8M (5.6%) 6% United Kingdom, FY2023: 8.6M (4.4%) 4%
Region FY2025FY2024FY2023
United States $141.6M $128.7M $117.8M
Other countries $61.7M $52.1M $42.9M
Germany $17.9M $14.4M $13.4M
Canada $15.3M $13.7M $10.8M
United Kingdom $13.2M $11.0M $8.6M

As the company reported it, from the “Segment and Geographic Information - Schedule of Net Sales to Unaffiliated Customers Based on Customer Location by Country (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $249.6M$219.9M$193.5M$161.7M$154.4M$129.4M$117.2M$105.6M$100.9M$89.2M
Cost of revenue $71.1M$69.0M$66.4M$56.8M$53.0M$44.7M$37.4M$31.6M$30.2M$26.2M
Gross profit $178.5M$150.9M$127.0M$104.9M$101.4M$84.6M$79.9M$73.9M$70.7M$62.9M
R&D $14.1M$15.7M$17.0M$13.3M$11.8M$10.1M$9.3M$8.2M$6.6M$6.1M
SG&A $42.0M$36.3M$31.8M$28.7M$25.5M$22.5M$19.1M$17.7M$17.0M$14.4M
Total operating expenses $110.6M$98.6M$90.3M$78.1M$65.0M$55.8M$58.7M$45.7M$49.6M$46.6M
Operating income $67.9M$52.3M$36.7M$26.8M$36.4M$28.8M$21.2M$28.2M$21.1M$16.3M
Interest expense $5.2M$205.0K$0$0$2.2M$1.3M$0$2.0K$21.0K$14.0K
Pre-tax income $75.2M$56.9M$39.5M$27.5M$34.3M$27.4M$21.7M$28.4M$21.1M$16.2M
Income tax $17.4M$12.8M$9.4M$6.9M$7.4M$6.1M$3.7M$5.5M$3.9M$5.7M
Net income $57.7M$44.0M$30.1M$20.6M$26.9M$21.2M$17.9M$22.9M$17.2M$10.6M
EPS, basic 2.551.961.360.941.271.050.911.180.910.57
EPS, diluted 2.521.931.340.931.251.040.881.130.860.55
Shares, diluted (wtd. avg.) 22.9M22.8M22.4M22.2M21.5M20.5M20.3M20.2M20.0M19.2M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $28.2M$25.6M$24.3M$19.1M$13.9M$26.8M$11.8M$26.3M$19.1M$24.3M
Short-term investments $330.9M$274.1M$80.8M$63.6M$56.1M$214.0K————
Receivables $33.6M$30.1M$25.1M$22.0M$19.6M$19.6M$16.6M$15.7M$15.0M$13.2M
Inventory —————————$19.6M
Total current assets $468.2M$402.2M$194.6M$161.7M$139.9M$94.3M$92.1M$94.0M$80.3M$59.0M
Property, plant and equipment $27.0M$24.8M$21.8M$17.9M$17.1M$15.0M$14.9M$14.1M$12.4M$8.0M
Goodwill $65.9M$65.9M$65.9M$65.9M$65.9M$65.9M$40.0M$29.9M$23.8M$23.4M
Other intangibles $33.1M$35.8M$41.7M$46.5M$52.7M$58.9M$24.9M$13.7M$8.2M$9.9M
Total assets $615.7M$551.8M$346.8M$310.5M$292.8M$252.8M$188.3M$153.1M$126.3M$101.9M
Accounts payable $3.6M$1.8M$3.7M$2.9M$2.3M$2.4M$2.6M$1.7M$1.5M$1.2M
Total current liabilities $36.3M$30.6M$29.9M$25.3M$21.8M$25.1M$20.9M$19.8M$13.2M$10.5M
Total liabilities $222.2M$214.5M$48.9M$42.3M$38.7M$80.2M$40.2M$22.9M$16.6M$14.4M
Retained earnings $184.7M$145.1M$115.4M$97.8M$88.1M$70.6M$57.0M$45.8M$28.3M$15.3M
Total equity $393.5M$337.3M$297.9M$268.2M$254.2M$172.6M$148.1M$130.2M$109.8M$87.5M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $81.3M$44.1M$36.8M$25.4M$35.1M$34.8M$14.2M$19.5M$22.9M$16.9M
Depreciation and amortisation $10.4M$9.6M$9.5M$9.4M$11.1M$8.4M$5.4M$4.3M$4.1M$3.6M
Stock-based compensation $7.8M$6.6M$5.3M$4.2M$3.5M$3.0M$2.6M$2.3M$2.3M$1.7M
Capital expenditure $6.8M$7.0M$7.3M$3.2M$4.9M$3.0M$3.8M$3.1M$6.4M$2.8M
Investing cash flow -$64.9M-$200.1M-$24.7M-$10.4M-$61.1M-$52.9M-$24.1M-$7.1M-$29.0M-$17.2M
Financing cash flow -$14.5M$158.1M-$7.1M-$9.2M$13.7M$32.2M-$4.6M-$4.4M$80.0K-$2.6M
Dividends paid $18.1M$14.4M$12.4M$11.0M$9.3M$7.7M$6.7M$5.4M$4.2M$3.3M
Buybacks $1.8M$1.7M$853.0K$642.0K$802.0K$570.0K$683.0K$741.0K$778.0K$311.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-153877.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 100M 200M 300M Revenue, FY2016: 89.2M Gross profit, FY2016: 62.9M Net income, FY2016: 10.6M Revenue, FY2017: 100.9M Gross profit, FY2017: 70.7M Net income, FY2017: 17.2M Revenue, FY2018: 105.6M Gross profit, FY2018: 73.9M Net income, FY2018: 22.9M Revenue, FY2019: 117.2M Gross profit, FY2019: 79.9M Net income, FY2019: 17.9M Revenue, FY2020: 129.4M Gross profit, FY2020: 84.6M Net income, FY2020: 21.2M Revenue, FY2021: 154.4M Gross profit, FY2021: 101.4M Net income, FY2021: 26.9M Revenue, FY2022: 161.7M Gross profit, FY2022: 104.9M Net income, FY2022: 20.6M Revenue, FY2023: 193.5M Gross profit, FY2023: 127M Net income, FY2023: 30.1M Revenue, FY2024: 219.9M Gross profit, FY2024: 150.9M Net income, FY2024: 44M Revenue, FY2025: 249.6M Gross profit, FY2025: 178.5M Net income, FY2025: 57.7M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $89.2M $100.9M $105.6M $117.2M $129.4M $154.4M $161.7M $193.5M $219.9M $249.6M
Gross profit $62.9M $70.7M $73.9M $79.9M $84.6M $101.4M $104.9M $127.0M $150.9M $178.5M
Net income $10.6M $17.2M $22.9M $17.9M $21.2M $26.9M $20.6M $30.1M $44.0M $57.7M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Shareholder vote Item 5.07
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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