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Lemaitre Vascular Inc (LMAT) stock

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NASDAQ: LMAT Nasdaq Health Care Equipment Next results ~November 4, 2026

B+ Fundamentals grade

Lemaitre Vascular Inc is a US-listed company in the health care equipment industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$79

Cash-flow model

Base case. Range ~$62–$100 across our lower- and higher-growth cases (7.9%–17.9% a year).

Price vs value

Modestly overvalued

The price is inside our value range, 3% above our base value.

Price used: $81.26, November 2, 2026

Lemaitre Vascular Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 5 selling0 purchases and 11 sales by directors and officers, last 12 monthsInsider trades
  • Funds167 adding, 145 cuttingOf 52 active managers that changed their stake, 25 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Lemaitre Vascular files

Where Lemaitre Vascular stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $262m, up 11.8% on a year earlier, slower than the 13.3% growth a quarter earlier. Free-cash-flow margin rose to 28.1% from 22.3% a year earlier. Operating margin widened to 29.5% from 23.3%. The diluted share count is up 2.0% on a year earlier, which dilutes existing holders. It passes 3 of our 3 financial-health checks. Our cash-flow model value is $75.56 a share, against a share price of $85.49.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 4, 2026 (estimated)

Lemaitre Vascular Inc's trailing-twelve-month revenue grew 11.8% year on year, with a free-cash-flow margin of 28.1%. Where it stands out: operating margin of 29.5% ranks 5 of 132 health care equipment companies we cover.

Our discounted-cash-flow model values the business at ~$79 per share in the base case (~$62–$100 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Gross margin expanding: TTM gross margin reached 72.9%, up 3.8pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • High operating margin. 29.5% of revenue is left as operating profit, against a median of -8.3% for health care equipment companies we cover.
  • Margins widening. Operating margin is up 6.1 points on a year ago.
  • Strong cash generation. 28.1% of revenue turned into free cash flow, against a median of -3.4% for health care equipment companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Share dilution. Diluted shares rose 2.0% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 45% and a beta of 0.4 against the S&P 500.
  • Insiders selling. 5 insiders sold $30M of stock over the past 365 days and none bought (73% under pre-set trading plans).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
$0.74 against an average estimate of $0.81: missed by 8.3%
Revenue
$70m, up 9.6% on a year earlier
Share reaction
-23.8% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Guidance given
sales $66.3m to $68.3m (Q3 2026 Guidance); sales $71.1m to $73.1m (Q4 2026 Guidance)
Next report
November 4, 2026; average EPS estimate $0.69

Lemaitre Vascular's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day+0.4%
  • 1 week-3.6%
  • 1 month+2.9%
  • This year+1.0%
  • 1 year-5.2%
  • 5 years+62.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$262M
Operating margin
29.5%
Net margin
25.0%
EPS (TTM, diluted)
$2.81

Growth

Revenue growth
+11.8%
Change in growth rate
−1.4 pts
Share count change
+2.0%

Cash

Free cash flow (TTM)
$73.8M
FCF margin
28.1%
Stock pay % of revenue
3.0%

Earnings

Last results
August 4, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Leadership
  2. Results
  3. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Lemaitre Vascular Inc valuation models and calculator

What the price is pricing in

The share price implies about 13.0% a year of cash-flow growth for five years.That is close to the 11.2% a year revenue growth Lemaitre Vascular has delivered.

  • Priced in13.0%
  • Last 12 months11.8%
  • 3 years a year14.0%
  • 5 years a year11.2%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($81.36, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$79
Price used
$81.36close November 3, 2026
Implied change
▼ 3%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Lemaitre Vascular Inc's free cash flow after stock-based pay with after-tax interest added back ($53.5M, FY2026 Q2 TTM), growing 11.1% and 11.8% in the next two years (forecasts, guidance and its record), then back to 12.9% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$62–~$100 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Lemaitre Vascular Inc's free cash flow after stock-based pay ( $53.5M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Lemaitre Vascular Inc as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.89 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$79 ~$62–$100 Primary model, counts double
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$52 ~$46–$84 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$27 ~$19–$38 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$29 ~$25–$35 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$53 ~$27–$79 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Lemaitre Vascular Inc with Health Care Equipment in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −22%
  • Revenue growth 5 points higher ▲ +29%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ +22%
  • Discount rate 1 point higher ▼ −14%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $43$55$71$92$119$155
8.5% $35$44$55$70$90$115
10% $30$37$46$57$72$91

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$15.54$23.07$29.20$21.86$33.62$38.35$47.98$44.43$55.36$90.59$80.47$81.26
Market value$285m$444m$585m$443m$683m$785m$1.0bn$985m$1.2bn$2.1bn$1.8bn$1.9bn
+ Net debt (− = net cash)−$27m−$24m−$19m−$26m−$12m$9m−$14m−$19m−$24m$142m$140m$142m
Enterprise value$257m$420m$566m$416m$672m$794m$1.0bn$966m$1.2bn$2.2bn$2.0bn$2.0bn
Multiples
Price / sales 3.6x5.0x5.8x4.2x5.8x6.1x6.7x6.1x6.4x9.4x7.4x7.2x
Price / earnings 36.7x41.9x34.1x19.3x38.1x37.0x38.3x47.7x41.2x46.9x32.0x28.9x
Price / free cash flow 31.1x31.6x35.6x26.9x65.6x24.7x34.1x44.5x42.1x55.5x24.8x25.7x
EV / EBITDA 17.3x21.1x22.5x12.8x25.2x21.4x21.4x26.6x26.3x35.7x25.3x23.2x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

86 /100

Strong moat

How hard Lemaitre Vascular's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 16.1% of total assets over 10 years.

  • Pricing power 20 / 20

    Gross margin has been a median 68.4%, moving by 2.5 percentage points (standard deviation) across 10 years.

  • Durability 16 / 20

    Operating margin has been a median 21.1%; its worst year was 17.2%.

  • Cash conversion 18 / 20

    Free cash flow was positive in 10 of 10 years, at a median 16.5% of revenue.

  • Discipline 12 / 20

    The diluted share count rose 12.8% over five years; stock-based pay has been a median 2.5% of revenue.

AI disruption exposure: Low. In this industry, the business rests on physical assets, regulated networks or products AI itself depends on.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 4, 2026, after the close. Analysts expect revenue of $67m and EPS of $0.69 (range $0.68 to $0.69) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.88 +14% $277m +11%
Next $3.18 +10% $303m +10%

Next year's EPS estimate has moved −2.4% in 90 days, across 8 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −4.0% on 90 days ago. In the last 30 days, 0 analysts raised Lemaitre Vascular Inc's forecast and 8 cut it.

Consensus EPS forecast Lemaitre Vascular Inc, last 90 days
$2.80 $2.90 $3.00 $3.10 $3.20 $3.30 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $3.00 Current fiscal year, 60 days ago: $2.88 Current fiscal year, 30 days ago: $2.88 Current fiscal year, 7 days ago: $2.88 Current fiscal year, Now: $2.88 $2.88 Next fiscal year, 90 days ago: $3.26 Next fiscal year, 60 days ago: $3.18 Next fiscal year, 30 days ago: $3.18 Next fiscal year, 7 days ago: $3.18 Next fiscal year, Now: $3.18 $3.18

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $3.00$3.26
60 days ago $2.88$3.18
30 days ago $2.88$3.18
7 days ago $2.88$3.18
Now $2.88$3.18

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.81 $0.74 −8.3%
Mar 2026 $0.66 $0.68 +3.0%
Dec 2025 $0.66 $0.68 +2.4%
Sept 2025 $0.56 $0.75 +33.1%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, August 4, 2026
  • Sales Full Year Guidance $274m to $278m GAAP
    “$274.3mm - $278.3mm (Mid $276.3mm, +11%, +11% org.)” source
  • Sales Q3 2026 Guidance $66.3m to $68.3m GAAP
    “$66.3mm - $68.3mm (Mid $67.3mm, +10%, +11% org.)” source
  • Sales Q4 2026 Guidance $71.1m to $73.1m GAAP
    “$71.1mm - $73.1mm (Mid $72.1mm, +12%, +12% org.)” source
  • EPS Full Year Guidance $2.84 to $2.94 GAAP
    “$2.84 - $2.94 (Mid $2.89, +15%, +21% adj.)” source
  • EPS Q3 2026 Guidance $0.66 to $0.71 GAAP
    “$0.66 - $0.71 (Mid $0.69, -9%, +11% adj.)” source
  • EPS Q4 2026 Guidance $0.75 to $0.81 GAAP
    “$0.75 - $0.81 (Mid $0.78, +15%)” source
Show 9 more items
  • Gross Margin Full Year Guidance about 72.4%
    “Gross Margin 72.2% 72.6% 72.4%” source
  • Op. Margin (Mid) Full Year Guidance about 28%
    “Op. Margin (Mid) 27% 29% 28%” source
  • Gross Margin Q3 2026 Guidance about 72.2%
    “Gross Margin 72.2% 72.6% 72.4%” source
  • Gross Margin Q4 2026 Guidance about 72.6%
    “Gross Margin 72.2% 72.6% 72.4%” source
  • Op. Margin (Mid) Q3 2026 Guidance about 27%
    “Op. Margin (Mid) 27% 29% 28%” source
  • Op. Margin (Mid) Q4 2026 Guidance about 29%
    “Op. Margin (Mid) 27% 29% 28%” source
  • Op. Income Full Year Guidance $75.3m to $78.2m GAAP
    “$75.3mm - $78.2mm (Mid $76.8mm, +13%, +19% adj.)” source
  • Op. Income Q3 2026 Guidance $17.3m to $18.8m GAAP
    “$17.3mm - $18.8mm (Mid $18.1mm, -11%, +7% adj.)” source
  • Op. Income Q4 2026 Guidance $19.8m to $21.2m GAAP
    “$19.8mm - $21.2mm (Mid $20.5mm, +9%)” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Lemaitre Vascular Inc's revenue by +11.1% next year and +11.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+10.5%, weight 53%) , management guidance (+10.4%, weight 20%) and the company's own record (+12.9%, weight 27%) . How the weights are set.

Analyst recommendations

8 analysts, Oct 2026
Buy450%
Hold450%
Sell00%

Monthly trend

  1. Oct 20262248
  2. Sep 20262248
  3. Aug 20262248
  4. Jul 20262349

Counts of recommendations published by analysts covering Lemaitre Vascular Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
9.8%
of tradable shares
Days to cover
6.66
at average volume
Short interest, 1 month
+5%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
6.5%
of shares
Employees
646
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −5.2%

$85.74 on October 31, 2025 to $81.26

ThenNowEffect
Revenue (last 12 months) $235m $262m +11.8%
Net margin 20.1% 25.0% +24.6%
P/E multiple 41.7x 28.9x −30.6%
Share count 23m 23m −2.0%

Biggest factor: p/e multiple.

Last 3 years +72.3%

$47.17 on November 3, 2023 to $81.26

ThenNowEffect
Revenue (last 12 months) $177m $262m +48.1%
Net margin 14.2% 25.0% +75.8%
P/E multiple 41.7x 28.9x −30.6%
Share count 22m 23m −4.6%

Biggest factor: net margin.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
LMAT+25%−7%+25%+64%−11%+1%
Industry peers (median)−9%−37%−9%−20%−16%−15%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
LMAT50%42%67%67%33%73%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
LMAT−26%−25%−33%−16%−25%−33%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 48% from April 19, 2018 to March 23, 2020. Getting back needed a 91% gain, reached on November 24, 2020, 246 days after the low.

Price behaviour

52-week range
$78.76 – $116.75
From 52-week high
−30.4%
vs 50-day average
+0.1%
vs 200-day average
−13.6%
Volatility (1 year)
45%
Beta vs S&P 500
0.44

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±10.4%
After a week
7 up, 5 down
typical move ±11.6%
After a month
7 up, 5 down
typical move ±14.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 −23.8% +1.6% −20.0% −20.9%
May 5, 2026 −1.2% +2.2% −12.8% −15.9%
February 25, 2026 +25.3% +0.3% +17.3% +21.9%
November 6, 2025 +0.6% −1.0% +3.9% −3.6%
August 5, 2025 +10.5% +0.3% +11.9% +15.3%
May 1, 2025 −13.3% +2.2% −10.2% −11.2%
February 27, 2025 −10.9% −0.1% −20.0% −19.2%
October 31, 2024 +6.5% −1.5% +13.5% +18.6%
August 1, 2024 −2.2% −3.3% −4.6% +4.1%
May 2, 2024 +11.1% +2.2% +13.8% +17.9%
February 27, 2024 +15.2% +0.1% +9.3% +9.2%
November 1, 2023 −4.0% +3.0% +1.8% +11.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Lemaitre Vascular Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: no liquid put with an effective price at or below fair value.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Lemaitre Vascular Inc in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Lemaitre Vascular Inc
$180M $200M $220M $240M $260M $280M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $185.6M Revenue (TTM), FY23 Q4: $193.5M Revenue (TTM), FY24 Q1: $199.9M Revenue (TTM), FY24 Q2: $205.6M Revenue (TTM), FY24 Q3: $213M Revenue (TTM), FY24 Q4: $219.9M Revenue (TTM), FY25 Q1: $226.3M Revenue (TTM), FY25 Q2: $234.6M Revenue (TTM), FY25 Q3: $240.9M Revenue (TTM), FY25 Q4: $249.6M Revenue (TTM), FY26 Q1: $256.3M Revenue (TTM), FY26 Q2: $262.4M $262.4M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $185.6M
FY23 Q4 $193.5M
FY24 Q1 $199.9M
FY24 Q2 $205.6M
FY24 Q3 $213M
FY24 Q4 $219.9M
FY25 Q1 $226.3M
FY25 Q2 $234.6M
FY25 Q3 $240.9M
FY25 Q4 $249.6M
FY26 Q1 $256.3M
FY26 Q2 $262.4M
Revenue growth, TTM YoY Lemaitre Vascular Inc
10% 15% 20% 25% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 18.1% Revenue growth, TTM YoY, FY23 Q4: 22.0% Revenue growth, TTM YoY, FY24 Q1: 20.4% Revenue growth, TTM YoY, FY24 Q2: 16.1% Revenue growth, TTM YoY, FY24 Q3: 14.8% Revenue growth, TTM YoY, FY24 Q4: 13.6% Revenue growth, TTM YoY, FY25 Q1: 13.2% Revenue growth, TTM YoY, FY25 Q2: 14.1% Revenue growth, TTM YoY, FY25 Q3: 13.1% Revenue growth, TTM YoY, FY25 Q4: 13.5% Revenue growth, TTM YoY, FY26 Q1: 13.3% Revenue growth, TTM YoY, FY26 Q2: 11.8% 11.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 18.1%
FY23 Q4 22.0%
FY24 Q1 20.4%
FY24 Q2 16.1%
FY24 Q3 14.8%
FY24 Q4 13.6%
FY25 Q1 13.2%
FY25 Q2 14.1%
FY25 Q3 13.1%
FY25 Q4 13.5%
FY26 Q1 13.3%
FY26 Q2 11.8%
Operating margin (TTM) Lemaitre Vascular Inc
15% 20% 25% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 18.0% Operating margin (TTM), FY23 Q4: 19.0% Operating margin (TTM), FY24 Q1: 20.4% Operating margin (TTM), FY24 Q2: 22.2% Operating margin (TTM), FY24 Q3: 23.3% Operating margin (TTM), FY24 Q4: 23.8% Operating margin (TTM), FY25 Q1: 23.4% Operating margin (TTM), FY25 Q2: 23.3% Operating margin (TTM), FY25 Q3: 25.7% Operating margin (TTM), FY25 Q4: 27.2% Operating margin (TTM), FY26 Q1: 28.5% Operating margin (TTM), FY26 Q2: 29.5% 29.5%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 18.0%
FY23 Q4 19.0%
FY24 Q1 20.4%
FY24 Q2 22.2%
FY24 Q3 23.3%
FY24 Q4 23.8%
FY25 Q1 23.4%
FY25 Q2 23.3%
FY25 Q3 25.7%
FY25 Q4 27.2%
FY26 Q1 28.5%
FY26 Q2 29.5%
FCF margin (TTM) Lemaitre Vascular Inc
10% 15% 20% 25% 30% 35% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 12.3% FCF margin (TTM), FY23 Q4: 15.2% FCF margin (TTM), FY24 Q1: 16.5% FCF margin (TTM), FY24 Q2: 15.4% FCF margin (TTM), FY24 Q3: 15.7% FCF margin (TTM), FY24 Q4: 16.9% FCF margin (TTM), FY25 Q1: 18.2% FCF margin (TTM), FY25 Q2: 22.3% FCF margin (TTM), FY25 Q3: 27.5% FCF margin (TTM), FY25 Q4: 29.8% FCF margin (TTM), FY26 Q1: 30.9% FCF margin (TTM), FY26 Q2: 28.1% 28.1%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 12.3%
FY23 Q4 15.2%
FY24 Q1 16.5%
FY24 Q2 15.4%
FY24 Q3 15.7%
FY24 Q4 16.9%
FY25 Q1 18.2%
FY25 Q2 22.3%
FY25 Q3 27.5%
FY25 Q4 29.8%
FY26 Q1 30.9%
FY26 Q2 28.1%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2025, from the 10-K

Each dollar Lemaitre Vascular took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $250M
  2. Other income $7.3M · 2.9%
  3. Cost of revenue $71.1M · 28.5%
  4. Gross profit $179M · 71.5%
  5. Research and development $14.1M · 5.7%
  6. Selling, general and admin $96.5M · 38.7%
  7. Operating income $67.9M · 27.2%
  8. Income tax $17.4M · 7.0%
  9. Net income $57.7M · 23.1%

Shares of revenue. Source: Lemaitre Vascular's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 51 56 58 57 65 71 78 89 101 106 117 129 154 162 193 220 250 262
Gross profit 37 42 40 41 45 48 54 63 71 74 80 85 101 105 127 151 179 191
EBITDA 3 5 6 6 7 10 15 20 25 33 27 37 47 36 46 62 78 88
Operating income 2 4 4 4 5 6 12 16 21 28 21 29 36 27 37 52 68 77
Net income 2 6 2 3 3 4 8 11 17 23 18 21 27 21 30 44 58 66
Diluted EPS $0.10 $0.37 $0.13 $0.16 $0.20 $0.23 $0.42 $0.55 $0.86 $1.13 $0.88 $1.04 $1.25 $0.93 $1.34 $1.93 $2.52 $2.81
Growth (year on year)
Revenue — +10.1% +2.9% −1.6% +13.8% +10.1% +10.2% +13.8% +13.1% +4.7% +11.0% +10.4% +19.4% +4.7% +19.7% +13.6% +13.5% +11.8%
EBITDA — +60.1% +6.2% +13.0% +12.9% +32.3% +54.1% +33.7% +26.3% +29.3% −18.2% +39.8% +27.7% −23.7% +27.5% +33.8% +26.6% +35.5%
Operating income — +106.0% −8.1% +14.9% +6.6% +40.3% +81.6% +41.9% +29.2% +33.7% −24.9% +35.9% +26.5% −26.3% +36.8% +42.3% +30.0% +41.2%
Net income — +276.3% −64.4% +20.0% +24.5% +22.3% +98.2% +36.5% +62.2% +33.6% −21.8% +18.3% +26.8% −23.3% +45.9% +46.3% +31.1% +39.4%
Diluted EPS — +270.0% −64.9% +23.1% +25.0% +15.0% +82.6% +31.0% +56.4% +31.4% −22.1% +18.2% +20.2% −25.6% +44.1% +44.0% +30.6% +36.6%
Margins
Gross margin 73.3% 74.4% 69.7% 72.0% 69.9% 68.1% 69.1% 70.6% 70.1% 70.0% 68.1% 65.4% 65.7% 64.9% 65.7% 68.6% 71.5% 72.9%
EBITDA margin 6.6% 9.6% 9.9% 11.4% 11.3% 13.6% 19.0% 22.4% 24.9% 30.8% 22.7% 28.7% 30.8% 22.4% 23.9% 28.1% 31.4% 33.5%
Operating margin 3.8% 7.2% 6.4% 7.5% 7.0% 8.9% 14.7% 18.3% 20.9% 26.7% 18.1% 22.3% 23.6% 16.6% 19.0% 23.8% 27.2% 29.5%
Net margin 3.1% 10.7% 3.7% 4.5% 5.0% 5.5% 9.9% 11.9% 17.0% 21.7% 15.3% 16.4% 17.4% 12.8% 15.6% 20.0% 23.1% 25.0%
Free-cash-flow margin 9.6% 8.2% 2.0% 6.2% 4.1% 6.1% 11.7% 15.8% 16.3% 15.6% 8.9% 24.6% 19.6% 13.7% 15.2% 16.9% 29.8% 28.1%
Cash flow
Cash from operations 5 7 3 5 5 6 11 17 23 20 14 35 35 25 37 44 81 83
Capital spending 1 2 2 1 3 1 2 3 6 3 4 3 5 3 7 7 7 9
Free cash flow 5 5 1 4 3 4 9 14 16 16 10 32 30 22 29 37 74 74
Stock-based pay 1 1 1 1 1 1 1 2 2 2 3 3 3 4 5 7 8 8
Free cash flow after stock pay 4 4 0 2 1 3 8 12 14 14 8 29 27 18 24 31 67 66
Balance sheet
Cash 23 23 20 16 15 19 27 24 19 26 12 27 14 19 24 26 28 27
Total debt 0 0 0 0 0 0 0 0 0 0 0 36 0 0 0 168 169 169
Net debt (negative = net cash) −23 −23 −20 −16 −15 −19 −27 −24 −19 −26 −12 9 −14 −19 −24 142 140 142
Diluted shares 16m 16m 16m 16m 16m 17m 18m 19m 20m 20m 20m 20m 21m 22m 22m 23m 23m 23m
Returned to shareholders
Dividends — — 1 2 2 2 3 3 4 5 7 8 9 11 12 14 18 20
Buybacks 1 3 2 2 0 0 0 0 1 1 1 1 1 1 1 2 2 2
Total returned 1 3 3 4 2 3 3 4 5 6 7 8 10 12 13 16 20 22

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

3 of 3 checks passed · June 30, 2026
What it owns · $641m
Short-term assets $488mLonger-term assets $152m
What it owes, and who funded it · $641m
Short-term liabilities $30mLonger-term liabilities $190mShareholders' equity $420m
  • Short-term assets cover short-term liabilities $488m of assets due within a year against $30m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $488m short-term assets against $190m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $77m against $5m of interest.

From Lemaitre Vascular Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$1.7M
Dividends (TTM)
$20.5M
Returned to shareholders
30%
of free cash flow
Buybacks, last 3 fiscal years
$4.4M
Diluted share count
+2.0%
year over year
Total shareholder yield
1.2%
dividends 1.1% + buybacks 0.1% of market value
Dividend payout ratio
31%
of net income paid out
R&D spending
5.9%
of revenue
Days sales outstanding
50 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care equipment
Last 12 months unless stated LMAT KIDS AXGN CERS ESTA SKIN Median
Revenue, last 12 months $262m $264m $267m $254m $246m $290m $99m
Revenue growth, last 12 months 11.8% 16.1% 24.3% 74.6% 38.6% −6.5% 9.2%
Revenue growth, 3-year average 14.0% 23.0% 20.6% 89.8% 11.5% −9.5% 13.5%
Revenue growth, latest quarter 9.6% 18.6% 26.2% 9.5% 31.7% −7.8% 10.2%
Gross margin 72.9% 73.8% 74.2% 58.4% 70.5% 66.4% 61.2%
Operating margin 29.5% −9.4% −5.2% −1.0% −7.6% −1.5% −8.5%
Operating margin, 3-year average 25.0% −14.8% −2.7% −68.4% −27.9% −17.9% −17.9%
Net margin 25.0% −12.8% −12.0% −2.9% −15.8% −9.8% −12.0%
Cash from operations / revenue 31.6% 4.7% 10.6% 1.4% −13.1% 7.6% −1.9%
Free-cash-flow margin 28.1% 1.2% 8.3% 0.2% −16.9% 7.3% −3.9%
Free-cash-flow margin, 3-year average 21.9% −12.5% 1.7% −54.4% −36.3% 6.8% −7.0%
Stock pay / revenue 3.0% 6.4% 15.4% 8.4% 4.9% 3.8% 6.1%
Change in share count 2.0% 2.2% 10.6% 4.3% 4.2% −1.8% 4.0%

Median of all 134 companies we cover in health care equipment. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

134 health care equipment companies
Measure Company Peer median Rank
Revenue growth Growth 11.8% 9.1% 61 of 129
Change in growth rate Growth -1.4pp -0.6pp 81 of 129
Gross margin Profitability 72.9% 61.9% 32 of 123
Operating margin Profitability 29.5% -8.3% 5 of 132
Net margin Profitability 25.0% -12.0% 10 of 133
Free-cash-flow margin Cash generation 28.1% -3.4% 5 of 128
Stock pay as % of revenue Cash generation 3.0% 6.1% 39 of 123
Change in share count Balance sheet 2.0% 3.3% 46 of 115
Days sales outstanding Balance sheet 50 days 57 days 40 of 118

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Geography
Region Revenue YoY
Americas $160M ▲ 10.4%
United States $142M ▲ 10.0%
EMEA $73.1M ▲ 21.9%
Other Countries $61.7M ▲ 18.4%
Germany $17.9M ▲ 24.1%
Asia Pacific $16.8M ▲ 9.8%
Canada $15.3M ▲ 11.6%
United Kingdom $13.2M ▲ 20.6%

These categories overlap or exclude eliminations, so shares aren't shown.

From Lemaitre Vascular Inc's 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$2.2B
Institutions reporting
325
Shares held vs prior quarter
▲ 3.3%
Positions opened / closed
35 / 49

Top buyers and sellers, Q2 2026: 167 institutions bought and 145 sold ; the biggest buyer was Price T Rowe Associates Inc (+460K shares) and the biggest seller Driehaus Capital Management LLC (−197K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $314M 3.3M 14.3% ▲ 4.1%
Conestoga Capital Advisors, LLC $131M 1.4M 6.0% ▼ 7.4%
First Trust Advisors LP $105M 1.1M 4.8% ▲ 9.6%
Congress Asset Management Co $92.5M 964K 4.2% ▲ 15.5%
Vanguard Capital Management LLC $91.5M 953K 4.2% ▲ 4.5%
State Street Corp $86.5M 901K 3.9% ▲ 5.3%
Copeland Capital Management, LLC $80.6M 839K 3.7% ▼ 3.6%
Geode Capital Management, LLC $75.7M 789K 3.5% ▲ 19.8%
Price T Rowe Associates Inc $72.5M 755K 3.3% ▲ 156.0%
Vanguard Portfolio Management LLC $58M 605K 2.6% ▲ 7.5%
Geneva Capital Management LLC $56.5M 589K 2.6% ▼ 21.9%
Dimensional Fund Advisors LP $47.4M 494K 2.2% ▲ 3.7%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Lemaitre Vascular Inc's complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $30M 11 trades by 5 insiders · 73% under pre-set plans
Net ▼ $30M net selling
Insider Date Trade Shares Price Value
Kamke Trent G Senior V. P., Operations May 8, 2026 Sell 2,928 $107.00 $313,296
Lemaitre George W Chairman and CEO May 8, 2026 Sell 27,881 $108.69 $3M
Jasinski Lawrence J Director May 7, 2026 Sell 3,943 $110.00 $433,730
Ross Bridget A Director May 7, 2026 Sell 5,044 $111.10 $560,388
Lemaitre George W Chairman and CEO May 7, 2026 Sell 18,600 $107.64 $2M
Roberts David B President and Director March 11, 2026 Sell 3,312 $107.68 $356,602
Kamke Trent G Senior V. P., Operations March 11, 2026 Sell 2,625 $108.50 $284,812
Lemaitre George W Chairman and CEO March 2, 2026 Sell pre-set plan 55,930 $107.81 $6M
Roberts David B President and Director February 27, 2026 Sell 8,464 $106.80 $903,955
Kamke Trent G Senior V. P., Operations February 27, 2026 Sell 1,044 $110.29 $115,143
Lemaitre George W Chairman and CEO February 26, 2026 Sell pre-set plan 150,000 $106.76 $16M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 25, 2026
  • November 6, 2025
  • August 5, 2025
  • May 1, 2025

Recent SEC filings

Data status

When each part of this page on Lemaitre Vascular Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Lemaitre Vascular Inc in brief

What does Lemaitre Vascular Inc do?
Lemaitre Vascular Inc is a US-listed company in the health care equipment industry. Its financial year ends in December.
What is Lemaitre Vascular Inc's stock ticker?
Lemaitre Vascular Inc trades under the ticker LMAT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Lemaitre Vascular Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Lemaitre Vascular Inc reported revenue of $262M, 11.8% higher than a year earlier, according to its SEC filings.
What is Lemaitre Vascular Inc's free cash flow?
Lemaitre Vascular Inc's free-cash-flow margin is 28.1% of revenue over the trailing twelve months, ranking 5 of the 128 health care equipment companies we cover.
What is Lemaitre Vascular Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Lemaitre Vascular Inc's free cash flow after stock-based pay gives ~$79 per share in the base case, and ~$62–$100 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Lemaitre Vascular Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Conestoga Capital Advisors, LLC and First Trust Advisors LP. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Lemaitre Vascular Inc buying back stock, and does it pay a dividend?
Lemaitre Vascular Inc spent $1.7M on share repurchases over the trailing twelve months, and its diluted share count still rose 2.0% over the year.
What is Lemaitre Vascular Inc's market cap?
On November 2, 2026, Lemaitre Vascular Inc's market capitalisation was about $1.9B, with a price-to-earnings ratio of 28.9 and net debt of $142M. Market figures come from third-party market data and may be delayed.
Does Lemaitre Vascular Inc pay a dividend?
Yes: Lemaitre Vascular Inc paid $20.5M in dividends over the trailing twelve months, a dividend yield of 1.10% and a payout ratio of 31.2%.
Who are Lemaitre Vascular Inc's competitors?
In our Health Care Equipment peer group, the companies closest to Lemaitre Vascular Inc are Orthopediatrics Corp, Axogen, Inc., Cerus Corp, Establishment Labs Holdings Inc. and Skinhealth Systems Inc. The side-by-side comparison below sets their revenue, margins and growth against Lemaitre Vascular Inc's.
Are insiders buying or selling Lemaitre Vascular Inc stock?
Over the last 12 months, Lemaitre Vascular Inc's directors and officers reported 0 open-market purchases and 11 sales on Form 4. The insider trading page charts every trade.
When is Lemaitre Vascular Inc's next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Lemaitre Vascular Inc announces its own schedule.