VIEMED HEALTHCARE, INC. VMD
Viemed Healthcare, Inc. (the "Company" or "Viemed"), through its subsidiaries, is a provider of home medical equipment ("HME") and post-acute healthcare services in the United States, with a focus on respiratory, chronic care, and women's health products and services. The Company's primary service offerings are focused on effective in-home treatment with clinical practitioners providing therapy and counseling to patients in their homes using cutting edge technology.
Viemed's primary objective is to drive growth by increasing the number of patients served and the level of care provided through its technology-enabled, home-based clinical care and chronic disease management model. Viemed's care programs are designed specifically to treat patients in the home for less total cost and with a superior quality of care. Viemed's services include respiratory disease management (through the rental of various HME devices), neuromuscular care, in-home sleep testing and sleep apnea treatment, oxygen therapy, the sale of associated supplies, women's health products and services, and healthcare staffing services.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $270.3M | $224.3M | $183.0M | $138.8M | $117.1M | $131.3M | $80.3M | $64.5M | — |
| Cost of revenue | $114.8M | $91.1M | $70.2M | $54.2M | $43.7M | $51.2M | $24.2M | $16.7M | — |
| Gross profit | $155.5M | $133.2M | $112.8M | $84.7M | $73.4M | $80.1M | $56.0M | $47.8M | — |
| R&D | $3.0M | $3.1M | $2.8M | $2.7M | $2.1M | $1.1M | $848.0K | $0 | — |
| SG&A | $121.4M | $106.2M | $87.9M | $68.2M | $54.9M | $52.8M | $41.4M | $34.3M | — |
| Operating income | $22.9M | $17.9M | $14.3M | $8.3M | $11.6M | $26.8M | $8.9M | $10.1M | — |
| Pre-tax income | $21.8M | $16.2M | $14.4M | $9.0M | $12.5M | $26.4M | $8.8M | $9.7M | — |
| Income tax | $6.4M | $4.8M | $4.1M | $2.8M | $3.4M | $5.2M | $271.0K | $162.0K | — |
| Net income | $15.4M | $11.4M | $10.2M | $6.2M | $9.1M | $31.5M | $8.5M | $9.5M | — |
| EPS, basic | 0.38 | 0.29 | 0.27 | 0.16 | 0.23 | 0.81 | 0.23 | 0.25 | — |
| EPS, diluted | 0.37 | 0.28 | 0.25 | 0.16 | 0.22 | 0.78 | 0.21 | 0.24 | — |
| Shares, diluted (wtd. avg.) | $40.8M | $40.8M | $40.4M | $39.8M | $40.7M | $40.5M | $39.7M | $39.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $13.5M | $17.5M | $12.8M | $16.9M | $28.4M | $31.0M | $13.4M | $10.4M | $4.6M |
| Receivables | $25.6M | $24.9M | $18.5M | $15.4M | $12.8M | $12.4M | $11.5M | $7.9M | $10.7M |
| Inventory | $5.0M | $4.3M | $4.6M | $3.6M | $2.5M | $2.3M | $1.4M | $1.9M | $2.0M |
| Total current assets | $48.5M | $52.9M | $38.4M | $39.7M | $47.3M | $47.2M | $27.8M | $18.9M | $17.9M |
| Property, plant and equipment | $78.8M | $76.3M | $73.6M | $67.7M | — | $55.1M | $54.8M | $25.3M | $22.7M |
| Goodwill | $58.9M | $33.0M | $29.8M | $0 | — | — | — | — | — |
| Other intangibles | $1.3M | $848.0K | $567.0K | $0 | — | — | — | — | — |
| Total assets | $199.2M | $177.1M | $154.9M | $117.0M | $118.0M | $112.6M | $82.6M | $44.3M | $40.7M |
| Accounts payable | — | — | — | — | — | — | $1.7M | $252.0K | $0 |
| Short-term debt | $1.1M | $409.0K | $1.1M | $0 | $1.5M | $1.8M | $1.8M | $0 | $0 |
| Total current liabilities | $41.1M | $37.3M | $32.1M | $18.9M | $17.8M | $23.0M | $25.9M | $15.5M | $14.6M |
| Long-term debt | $11.3M | $3.6M | $6.0M | $0 | $4.3M | $5.8M | $7.6M | $0 | $0 |
| Total liabilities | $55.6M | $43.8M | $41.0M | $19.9M | $23.1M | $30.9M | $38.9M | $16.8M | $15.9M |
| Retained earnings | $102.9M | $89.7M | $79.5M | $69.8M | $73.3M | $65.6M | $34.1M | $23.5M | $21.4M |
| Total equity | $141.5M | $131.4M | $113.9M | $97.1M | $94.8M | $81.7M | $43.7M | $32.6M | $22.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $51.9M | $39.1M | $45.2M | $27.7M | $22.5M | $35.1M | $19.1M | $22.4M | — |
| Depreciation and amortisation | $28.6M | $25.4M | $21.9M | $15.6M | $11.3M | $9.6M | $6.4M | $3.8M | — |
| Stock-based compensation | $9.1M | $6.3M | $5.8M | $5.2M | $5.2M | $4.9M | $3.9M | $2.7M | — |
| Capital expenditure | $40.0M | $37.8M | $26.1M | $22.9M | $19.7M | $13.0M | $13.4M | $6.1M | — |
| Investing cash flow | -$50.2M | -$30.7M | -$52.1M | -$24.0M | -$19.7M | -$8.4M | -$12.8M | -$5.3M | — |
| Financing cash flow | -$5.8M | -$3.7M | $2.8M | -$15.3M | -$5.3M | -$9.1M | -$3.3M | -$11.8M | — |
| Buybacks | $13.2M | $0 | $0 | $9.6M | $0 | $0 | $1.5M | $1.6M | — |
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 0001729149-26-000022.
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