LeMaitre Vascular, Inc. (LMAT) Balance Sheet
LMAT balance sheet, 2025
December 31, 2025 · U.S. dollars$615.7M assets = $222.2M liabilities + $393.5M equity
Both columns are drawn to the same scale: what LMAT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LMAT financial health
Descriptive bands, not a rating. Fiscal 2025.
LMAT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $101.9M2016 | $615.7M2025 | +22.1%/yr | |
| Total liabilities | $14.4M2016 | $222.2M2025 | +35.5%/yr | |
| Shareholders’ equity | $87.5M2016 | $393.5M2025 | +18.2%/yr | |
| Cash & short-term investments | $24.3M2016 | $359.1M2025 | +34.9%/yr | |
| Total debt | $2.9M2018 | $185.6M2025 | +80.9%/yr | |
| Net cash (debt) | $45.1M2018 | $173.5M2025 | +$128.5M | |
| Working capital | $48.5M2016 | $431.9M2025 | +$383.4M | |
| Book value per share | $4.552016 | $17.162025 | +15.9%/yr | |
| Debt / equity | 0.022018 | 0.472025 | +0.45 | |
| Shares outstanding | 19.2M2016 | 22.9M2025 | +2.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LMAT assets
LMAT liabilities and equity
LMAT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LMAT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $359.1M | $299.7M | $105.1M | $82.7M | $70.0M | $27.0M | $32.7M | $48.0M | $41.7M | $24.3M |
| Cash & 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 | $214,000 | $20.9M | $21.7M | $22.6M | $0 |
| Receivables | $33.6M | $30.1M | $25.1M | $22.0M | $19.6M | $19.6M | $16.6M | $15.7M | $15.0M | $13.2M |
| Inventory | $70.4M | $55.9M | $52.3M | $45.3M | $40.6M | $39.2M | $34.6M | $25.6M | $21.0M | $19.6M |
| Other current assets | $5.1M | $16.5M | $12.1M | $11.7M | $9.6M | $8.6M | $8.2M | $4.7M | $2.6M | $2.0M |
| 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 & equipment (net) | $42.8M | $41.6M | $39.8M | $33.5M | $32.1M | $31.1M | $30.1M | $14.1M | $12.4M | $8.0M |
| Goodwill & intangible assets | $99.0M | $101.8M | $107.7M | $112.5M | $118.7M | $124.8M | $64.8M | $43.6M | $32.1M | $33.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $5.7M | $6.3M | $4.7M | $2.7M | $2.1M | $2.6M | $1.3M | $1.4M | $1.6M | $1.6M |
| Total assets | $615.7M | $551.8M | $346.8M | $310.5M | $292.8M | $252.8M | $188.3M | $153.1M | $126.3M | $101.9M |
| Liabilities | ||||||||||
| Accounts payable | $3.6M | $1.8M | $3.7M | $2.9M | $2.3M | $2.4M | $2.6M | $1.7M | $1.5M | $1.2M |
| Short-term debt | $2.9M | $2.7M | $2.5M | $1.9M | $1.9M | $4.5M | $1.8M | $2.9M | — | — |
| Deferred revenue | — | — | $390,000 | — | $16.3M | $17.5M | $14.0M | $552,000 | — | — |
| Total current liabilities | $36.3M | $30.6M | $29.9M | $25.3M | $21.8M | $25.1M | $20.9M | $19.8M | $13.2M | $10.5M |
| Long-term debt | $168.6M | $167.8M | $0 | $0 | $0 | $35.5M | $0 | $0 | $0 | $0 |
| Lease obligations | $16.9M | $17.9M | $19.1M | $16.6M | $15.9M | $16.7M | $15.7M | — | — | — |
| Other long-term liabilities | $17.2M | $16.1M | $19.0M | $16.9M | $16.8M | $19.6M | $19.3M | $3.1M | $3.4M | $3.9M |
| Total liabilities | $222.2M | $214.5M | $48.9M | $42.3M | $38.7M | $80.2M | $40.2M | $22.9M | $16.6M | $14.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $244,000 | $242,000 | $239,000 | $237,000 | $235,000 | $221,000 | $217,000 | $211,000 | $207,000 | $200,000 |
| Retained earnings (deficit) | $184.7M | $145.1M | $115.4M | $97.8M | $88.1M | $70.6M | $57.0M | $45.8M | $28.3M | $15.3M |
| Treasury stock | — | — | — | −$13.0M | −$12.4M | −$11.6M | −$11.0M | −$10.3M | −$9.6M | −$8.8M |
| Accumulated other comprehensive income | −$2.4M | −$6.2M | −$4.6M | −$6.0M | −$3.4M | −$1.5M | −$4.0M | −$3.9M | −$2.3M | −$4.6M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $393.5M | $337.3M | $297.9M | $268.2M | $254.2M | $172.6M | $148.1M | $130.2M | $109.8M | $87.5M |
| Key figures | ||||||||||
| Total debt | $185.6M | $185.7M | $19.1M | $16.6M | $15.9M | $54.8M | $15.7M | $2.9M | — | — |
| Net cash (debt) | $173.5M | $114.0M | $86.0M | $66.1M | $54.0M | −$27.8M | $17.0M | $45.1M | — | — |
| Working capital | $431.9M | $371.6M | $164.7M | $136.4M | $118.1M | $69.1M | $71.2M | $74.3M | $67.1M | $48.5M |
| Tangible book value | $294.5M | $235.5M | $190.2M | $155.7M | $135.5M | $47.7M | $83.3M | $86.7M | $77.7M | $54.2M |
| Book value per share | $17.16 | $14.81 | $13.29 | $12.10 | $11.83 | $8.43 | $7.29 | $6.43 | $5.48 | $4.55 |
| Shares outstanding | 22.9M | 22.8M | 22.4M | 22.2M | 21.5M | 20.5M | 20.3M | 20.2M | 20.0M | 19.2M |
| Current ratio | 12.89 | 13.14 | 6.51 | 6.39 | 6.41 | 3.75 | 4.42 | 4.76 | 6.09 | 5.63 |
| Quick ratio | 10.81 | 10.77 | 4.36 | 4.13 | 4.11 | 1.85 | 2.36 | 3.22 | 4.30 | 3.58 |
| Debt / equity | 0.47 | 0.55 | 0.06 | 0.06 | 0.06 | 0.32 | 0.11 | 0.02 | — | — |
| Equity / assets | 63.9% | 61.1% | 85.9% | 86.4% | 86.8% | 68.3% | 78.7% | 85.1% | 86.9% | 85.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $376.2M | $367.2M | $359.1M | $343.1M | $319.5M | $302.5M | $299.7M | $123.9M | $113.1M | $108.3M | $105.1M | $97.0M |
| Cash & equivalents | $26.6M | $26.9M | $28.2M | $25.5M | $27.2M | $25.3M | $25.6M | $21.0M | $22.3M | $26.6M | $24.3M | $18.1M |
| Short-term investments | $349.6M | $340.4M | $330.9M | $317.6M | $292.3M | $277.2M | $274.1M | $102.9M | $90.8M | $81.7M | $80.8M | $79.0M |
| Receivables | $35.7M | $35.8M | $33.6M | $32.4M | $36.5M | $35.1M | $30.1M | $32.3M | $30.8M | $30.2M | $25.1M | $23.9M |
| Inventory | $70.5M | $70.8M | $70.4M | $70.8M | $57.5M | $56.0M | $55.9M | $57.1M | $56.7M | $54.5M | $52.3M | $51.3M |
| Other current assets | $5.9M | $4.0M | $5.1M | $5.8M | $16.6M | $14.5M | $16.5M | $13.9M | $12.2M | $9.9M | $12.1M | $10.0M |
| Total current assets | $488.3M | $477.8M | $468.2M | $452.0M | $430.1M | $408.1M | $402.2M | $227.1M | $212.8M | $203.0M | $194.6M | $182.2M |
| Property, plant & equipment (net) | $49.6M | $48.4M | $42.8M | $42.5M | $41.9M | $41.3M | $41.6M | $41.1M | $40.4M | $40.0M | $39.8M | $37.2M |
| Goodwill & intangible assets | $96.5M | $97.6M | $99.0M | $97.7M | $99.1M | $100.3M | $101.8M | $103.2M | $104.7M | $106.2M | $107.7M | $109.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $6.2M | $5.7M | $5.7M | $5.9M | $6.5M | $6.2M | $6.3M | $5.5M | $5.1M | $4.8M | $4.7M | $5.5M |
| Total assets | $640.5M | $629.5M | $615.7M | $598.1M | $577.6M | $556.0M | $551.8M | $377.0M | $363.1M | $354.0M | $346.8M | $334.0M |
| Liabilities | ||||||||||||
| Accounts payable | $3.2M | $4.2M | $3.6M | $3.5M | $4.9M | $2.2M | $1.8M | $1.7M | $2.0M | $3.1M | $3.7M | $4.4M |
| Short-term debt | $3.4M | $3.4M | $2.9M | $2.8M | $2.8M | $2.6M | $2.7M | $2.7M | $2.6M | $2.5M | $2.5M | $2.7M |
| Deferred revenue | — | — | — | — | — | — | — | — | $927,000 | $708,000 | $390,000 | $21.8M |
| Total current liabilities | $29.9M | $33.4M | $36.3M | $33.3M | $30.8M | $24.7M | $30.6M | $29.3M | $25.4M | $26.8M | $29.9M | $29.0M |
| Long-term debt | $169.1M | $168.9M | $168.6M | $168.4M | $168.2M | $168.0M | $167.8M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $21.2M | $20.9M | $16.9M | $17.2M | $17.7M | $17.4M | $17.9M | $18.3M | $18.4M | $18.9M | $19.1M | $16.9M |
| Other long-term liabilities | $21.2M | $20.7M | $17.2M | $17.4M | $15.9M | $15.7M | $16.1M | $16.6M | $18.1M | $18.6M | $19.0M | $16.3M |
| Total liabilities | $220.2M | $222.9M | $222.2M | $219.1M | $214.9M | $208.4M | $214.5M | $46.0M | $43.5M | $45.5M | $48.9M | $45.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $245,000 | $245,000 | $244,000 | $243,000 | $242,000 | $242,000 | $242,000 | $241,000 | $240,000 | $240,000 | $239,000 | $239,000 |
| Retained earnings (deficit) | $206.0M | $194.7M | $184.7M | $173.7M | $160.8M | $151.6M | $145.1M | $137.5M | $130.0M | $121.7M | $115.4M | $110.1M |
| Accumulated other comprehensive income | −$4.2M | −$3.9M | −$2.4M | −$2.9M | −$3.0M | −$5.2M | −$6.2M | −$3.2M | −$5.1M | −$5.6M | −$4.6M | −$6.7M |
| Total shareholders' equity | $420.3M | $406.6M | $393.5M | $378.9M | $362.7M | $347.6M | $337.3M | $331.1M | $319.5M | $308.5M | $297.9M | $288.6M |
| Key figures | ||||||||||||
| Total debt | $190.3M | $189.8M | $185.6M | $185.6M | $185.9M | $185.4M | $185.7M | $18.3M | $18.4M | $18.9M | $19.1M | $16.9M |
| Net cash (debt) | $186.0M | $177.4M | $173.5M | $157.4M | $133.6M | $117.2M | $114.0M | $105.6M | $94.7M | $89.4M | $86.0M | $80.1M |
| Working capital | $458.4M | $444.5M | $431.9M | $418.7M | $399.3M | $383.4M | $371.6M | $197.8M | $187.4M | $176.2M | $164.7M | $153.2M |
| Tangible book value | $323.9M | $309.0M | $294.5M | $281.3M | $263.6M | $247.2M | $235.5M | $227.8M | $214.8M | $202.3M | $190.2M | $179.5M |
| Book value per share | $17.14 | $17.66 | $17.13 | $15.53 | $15.84 | $15.18 | $14.73 | $14.50 | $14.06 | $13.58 | $13.26 | $12.84 |
| Shares outstanding | 24.5M | 23.0M | 23.0M | 24.4M | 22.9M | 22.9M | 22.9M | 22.8M | 22.7M | 22.7M | 22.5M | 22.5M |
| Current ratio | 16.31 | 14.32 | 12.89 | 13.58 | 13.96 | 16.49 | 13.14 | 7.74 | 8.36 | 7.57 | 6.51 | 6.28 |
| Quick ratio | 13.76 | 12.08 | 10.81 | 11.28 | 11.55 | 13.65 | 10.77 | 5.32 | 5.66 | 5.17 | 4.36 | 4.16 |
| Debt / equity | 0.45 | 0.47 | 0.47 | 0.49 | 0.51 | 0.53 | 0.55 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 |
| Equity / assets | 65.6% | 64.6% | 63.9% | 63.4% | 62.8% | 62.5% | 61.1% | 87.8% | 88.0% | 87.2% | 85.9% | 86.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
LMAT financial position
At the end of fiscal 2025 (December 31, 2025), LeMaitre Vascular had total assets of $615.7 million (up 11.6% from a year earlier), total liabilities of $222.2 million and shareholders' equity of $393.5 million. It held $359.1 million in cash and short-term investments against $185.6 million of debt, a net cash position of $173.5 million. Its current ratio was 12.89. In the latest quarter (ended June 30, 2026) total assets were $640.5 million and equity $420.3 million.
Related: LMAT income statement, LMAT cash flow statement, LMAT key metrics. See the LMAT stock overview for the latest quote and news.
LMAT balance sheet FAQ
What are LeMaitre Vascular's total assets?
LeMaitre Vascular reported total assets of $615.7 million at the end of fiscal 2025 (December 31, 2025), compared with $551.8 million a year earlier.
How much debt does LeMaitre Vascular have?
LeMaitre Vascular had $185.6 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.47.
How much cash does LeMaitre Vascular have?
LeMaitre Vascular held $359.1 million in cash and short-term investments at the end of fiscal 2025; with $185.6 million of debt that is net cash of $173.5 million.
What is LeMaitre Vascular's book value?
LeMaitre Vascular's shareholders' equity (book value) was $393.5 million at the end of fiscal 2025, or $17.16 per share.
What is LeMaitre Vascular's current ratio?
LeMaitre Vascular had current assets of $468.2 million and current liabilities of $36.3 million, a current ratio of 12.89 (it can cover its short-term obligations).
How much goodwill does LeMaitre Vascular have?
LeMaitre Vascular carried $99.0 million of goodwill and intangible assets, 16.1% of total assets, at the end of fiscal 2025.