Cerus vs Lemaitre Vascular
Cerus and Lemaitre Vascular are similar in size: $234m and $250m of revenue in their latest fiscal years. Cerus grew faster (16.1% against 13.5%). Lemaitre Vascular kept more of each dollar of sales as profit: a net margin of 23.1% against -6.7%. Lemaitre Vascular carries less debt relative to equity (42.9% against 130.7%).
| Latest fiscal year | CerusCERS, 2025 | Lemaitre VascularLMAT, 2025 |
|---|---|---|
| Revenue | $234m | $250m |
| Revenue growth | 16.1% | 13.5% |
| Net income | −$15.6m | $57.7m |
| Operating margin | -3.7% | 27.2% |
| Net margin | -6.7% | 23.1% |
| Return on equity | -26.0% | 15.8% |
| Free cash flow | $1.1m | $74.5m |
| Cash | $20.0m | $28.2m |
| Total debt | $84.0m | $169m |
| Debt to equity | 130.7% | 42.9% |
| Dividend per share | — | $0.80 |
| Dividend yield | — | 1.1% |
| Share buybacks | — | $1.8m |
| Employees | 275 | 655 |
| Market value | $472m | $1.85bn |
| Price vs our value range | — | Within our value range |
| Moat score | 21 (Weak) | 86 (Strong) |
| Insider trades, 12 months | 0 buys, 25 sales | 0 buys, 11 sales |