LeMaitre Vascular, Inc. (LMAT) Key Metrics
LMAT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.85B
- Enterprise value
- $1.66B
- P/E (TTM)
- 28.4 10-yr median 40.4
- Forward P/E
- 25.6
- PEG ratio
- 2.13
- Price / sales
- 7.0 10-yr median 6.4
- Price / book
- 4.4 10-yr median 4.8
- EV / EBITDA
- 16.5 10-yr median 23.5
- Dividend yield
- 1.24% $1.00 a year
- Beta
- 0.47
LMAT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsLMAT valuation Price multiples at each fiscal year-end price.
LMAT returns How much profit the business earns on the capital it uses.
LMAT per-share figures Results divided by the shares outstanding at year-end.
LMAT financial health Debt, liquidity and how easily interest is covered.
LMAT efficiency & capital use Working capital cycle and where the cash goes.
LMAT valuation history
LMAT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
LMAT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
LMAT cash returned to shareholders
LMAT price vs earnings per share
LMAT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.86B | $2.10B | $1.27B | $1.02B | $1.08B | $829.4M | $730.7M | $478.5M | $637.9M | $487.6M |
| Enterprise value | $1.69B | $1.98B | $1.19B | $954.2M | $1.02B | $857.2M | $713.8M | $433.5M | $596.2M | $463.3M |
| P/E ratio | 32.2 | 47.7 | 42.3 | 49.4 | 40.1 | 39.1 | 40.7 | 20.9 | 37.1 | 46.0 |
| Price / sales | 7.5 | 9.5 | 6.6 | 6.3 | 7.0 | 6.4 | 6.2 | 4.5 | 6.3 | 5.5 |
| Price / book | 4.7 | 6.2 | 4.3 | 3.8 | 4.2 | 4.8 | 4.9 | 3.7 | 5.8 | 5.6 |
| Price / free cash flow | 25.0 | 56.5 | 43.2 | 46.1 | 35.7 | 26.1 | 70.1 | 29.1 | 38.8 | 34.7 |
| Price / operating cash flow | 22.9 | 47.6 | 34.6 | 40.2 | 30.7 | 23.8 | 51.5 | 24.5 | 27.9 | 28.9 |
| EV / sales | 6.8 | 9.0 | 6.1 | 5.9 | 6.6 | 6.6 | 6.1 | 4.1 | 5.9 | 5.2 |
| EV / EBITDA | 18.6 | 29.7 | 24.2 | 25.8 | 21.5 | 23.1 | 26.3 | 13.2 | 23.7 | 23.2 |
| EV / free cash flow | 22.6 | 53.4 | 40.2 | 43.1 | 33.9 | 26.9 | 68.5 | 26.3 | 36.2 | 33.0 |
| Earnings yield | 3.1% | 2.1% | 2.4% | 2.0% | 2.5% | 2.6% | 2.5% | 4.8% | 2.7% | 2.2% |
| Free cash flow yield | 4.0% | 1.8% | 2.3% | 2.2% | 2.8% | 3.8% | 1.4% | 3.4% | 2.6% | 2.9% |
| Dividend yield | 1.0% | 0.7% | 1.0% | 1.1% | 0.9% | 0.9% | 0.9% | 1.1% | 0.7% | 0.7% |
| Shareholder yield (dividends + buybacks) | 1.0% | 0.8% | 1.0% | 1.1% | 0.9% | 1.0% | 1.0% | 1.3% | 0.8% | 0.7% |
| Share price at fiscal year-end | $81.10 | $92.14 | $56.76 | $46.02 | $50.23 | $40.50 | $35.95 | $23.64 | $31.84 | $25.34 |
| Per share | ||||||||||
| Revenue per share | $10.89 | $9.65 | $8.63 | $7.29 | $7.19 | $6.32 | $5.77 | $5.22 | $5.04 | $4.63 |
| Earnings per share | $2.52 | $1.93 | $1.34 | $0.93 | $1.25 | $1.04 | $0.88 | $1.13 | $0.86 | $0.55 |
| Operating cash flow per share | $3.54 | $1.94 | $1.64 | $1.14 | $1.63 | $1.70 | $0.70 | $0.96 | $1.14 | $0.88 |
| Free cash flow per share | $3.25 | $1.63 | $1.31 | $1.00 | $1.41 | $1.55 | $0.51 | $0.81 | $0.82 | $0.73 |
| Cash per share | $15.66 | $13.16 | $4.69 | $3.73 | $3.26 | $1.32 | $1.61 | $2.37 | $2.08 | $1.26 |
| Book value per share | $17.16 | $14.81 | $13.29 | $12.10 | $11.83 | $8.43 | $7.29 | $6.43 | $5.48 | $4.55 |
| Tangible book value per share | $12.84 | $10.34 | $8.48 | $7.02 | $6.31 | $2.33 | $4.10 | $4.28 | $3.88 | $2.82 |
| Dividends per share | $0.79 | $0.63 | $0.56 | $0.50 | $0.43 | $0.38 | $0.33 | $0.27 | $0.21 | $0.17 |
| Capex per share | $0.30 | $0.31 | $0.32 | $0.15 | $0.23 | $0.15 | $0.19 | $0.15 | $0.32 | $0.15 |
| Debt per share | $8.09 | $8.15 | $0.85 | $0.75 | $0.74 | $2.67 | $0.77 | $0.14 | $0.00 | $0.00 |
| Shares outstanding | 22.9M | 22.8M | 22.4M | 22.2M | 21.5M | 20.5M | 20.3M | 20.2M | 20.0M | 19.2M |
| Change in shares outstanding | +0.7% | +1.6% | +1.1% | +3.2% | +4.9% | +0.8% | +0.4% | +1.0% | +4.1% | +5.1% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.8% | 13.9% | 10.6% | 7.9% | 12.6% | 13.2% | 12.9% | 19.1% | 17.4% | 12.8% |
| Return on invested capital (ROIC) | 23.5% | 18.6% | 13.5% | 10.0% | 14.3% | 13.5% | 16.2% | 29.7% | 26.2% | 18.7% |
| Return on assets (ROA) | 9.9% | 9.8% | 9.2% | 6.8% | 9.9% | 9.6% | 10.5% | 16.4% | 15.1% | 11.0% |
| Return on tangible assets | 11.2% | 9.8% | 12.6% | 10.4% | 15.5% | 16.6% | 14.5% | 20.9% | 18.2% | 15.4% |
| Free cash flow margin | 29.8% | 16.9% | 15.2% | 13.7% | 19.6% | 24.6% | 8.9% | 15.6% | 16.3% | 15.8% |
| Income quality (OCF / net income) | 1.41 | 1.00 | 1.22 | 1.23 | 1.30 | 1.64 | 0.79 | 0.85 | 1.33 | 1.60 |
| Financial health | ||||||||||
| Total debt | $185.6M | $185.7M | $19.1M | $16.6M | $15.9M | $54.8M | $15.7M | $2.9M | $0 | $0 |
| Cash & short-term investments | $359.1M | $299.7M | $105.1M | $82.7M | $70.0M | $27.0M | $32.7M | $48.0M | $41.7M | $24.3M |
| Net debt | −$173.5M | −$114.0M | −$86.0M | −$66.1M | −$54.0M | $27.8M | −$17.0M | −$45.1M | −$41.7M | −$24.3M |
| Debt / equity | 0.47 | 0.55 | 0.06 | 0.06 | 0.06 | 0.32 | 0.11 | 0.02 | 0.00 | 0.00 |
| Debt / assets | 0.30 | 0.34 | 0.06 | 0.05 | 0.05 | 0.22 | 0.08 | 0.02 | 0.00 | 0.00 |
| Net debt / EBITDA | −1.91 | −1.71 | −1.76 | −1.79 | −1.14 | 0.75 | −0.63 | −1.38 | −1.66 | −1.22 |
| Current ratio | 12.89 | 13.14 | 6.51 | 6.39 | 6.41 | 3.75 | 4.42 | 4.76 | 6.09 | 5.63 |
| Quick ratio | 10.95 | 11.31 | 4.76 | 4.60 | 4.55 | 2.19 | 2.76 | 3.46 | 4.49 | 3.76 |
| Interest coverage | 13.1 | 254.9 | — | 27.2 | 16.4 | 22.0 | 3.6 | — | — | — |
| Working capital | $431.9M | $371.6M | $164.7M | $136.4M | $118.1M | $69.1M | $71.2M | $74.3M | $67.1M | $48.5M |
| Invested capital | $220.0M | $223.3M | $211.9M | $202.1M | $200.1M | $200.4M | $131.2M | $85.2M | $68.1M | $63.2M |
| Tangible asset value | $294.5M | $235.5M | $190.2M | $155.7M | $135.5M | $47.7M | $83.3M | $86.7M | $77.7M | $54.2M |
| Net current asset value | $246.1M | $187.7M | $145.7M | $119.5M | $101.2M | $14.0M | $51.9M | $71.2M | $63.8M | $44.6M |
| Graham number | $31.18 | $25.38 | $20.03 | $15.92 | $18.27 | $14.02 | $12.03 | $12.81 | $10.28 | $7.50 |
| Graham net-net per share | $8.61 | $5.96 | $4.51 | $3.59 | $3.09 | −$0.93 | $1.09 | $2.46 | $2.34 | $1.54 |
| Capital allocation | ||||||||||
| Dividends paid | $18.1M | $14.4M | $12.4M | $11.0M | $9.3M | $7.7M | $6.7M | $5.4M | $4.2M | $3.3M |
| Share buybacks (net) | — | $1.7M | $853,000 | $642,000 | $802,000 | $570,000 | $683,000 | $741,000 | $778,000 | $311,000 |
| Dividend payout ratio | 31.4% | 32.6% | 41.3% | 53.2% | 34.7% | 36.3% | 37.6% | 23.7% | 24.3% | 31.4% |
| Dividends + buybacks / free cash flow | 24.3% | 43.3% | 45.1% | 52.5% | 33.5% | 26.0% | 71.2% | 37.6% | 30.1% | 25.9% |
| Capex / revenue | 2.7% | 3.2% | 3.8% | 2.0% | 3.2% | 2.3% | 3.2% | 2.9% | 6.4% | 3.2% |
| Capex / operating cash flow | 8.3% | 15.8% | 19.8% | 12.7% | 13.9% | 8.6% | 26.5% | 15.7% | 28.1% | 16.8% |
| Capex / depreciation | 0.65 | 0.72 | 0.76 | 0.34 | 0.44 | 0.36 | 0.69 | 0.71 | 1.58 | 0.79 |
| Stock-based compensation / revenue | 3.1% | 3.0% | 2.7% | 2.6% | 2.3% | 2.3% | 2.3% | 2.2% | 2.2% | 1.9% |
| R&D / revenue | 5.7% | 7.1% | 8.8% | 8.2% | 7.6% | 7.8% | 7.9% | 7.8% | 6.6% | 6.9% |
| SG&A / revenue | 38.7% | 37.7% | 37.7% | 38.1% | 34.4% | 35.7% | 42.1% | 42.6% | 42.6% | 45.4% |
| Efficiency | ||||||||||
| Days sales outstanding | 46.6 | 45.8 | 44.4 | 47.0 | 46.3 | 51.0 | 50.3 | 53.1 | 51.0 | 51.5 |
| Days of inventory on hand | 324.5 | 286.5 | 268.1 | 276.3 | 274.6 | 301.0 | 293.9 | 269.0 | 245.7 | 242.1 |
| Days payables outstanding | 13.9 | 14.5 | 18.2 | 16.9 | 16.3 | 20.4 | 21.2 | 18.9 | 16.7 | 18.0 |
| Cash conversion cycle (days) | 357.2 | 317.8 | 294.3 | 306.5 | 304.6 | 331.5 | 323.0 | 303.2 | 280.0 | 275.7 |
| Receivables turnover | 7.84 | 7.98 | 8.22 | 7.76 | 7.88 | 7.16 | 7.26 | 6.87 | 7.16 | 7.09 |
| Payables turnover | 26.29 | 25.10 | 20.02 | 21.65 | 22.41 | 17.91 | 17.24 | 19.32 | 21.86 | 20.30 |
| Inventory turnover | 1.12 | 1.27 | 1.36 | 1.32 | 1.33 | 1.21 | 1.24 | 1.36 | 1.49 | 1.51 |
| Asset turnover | 0.43 | 0.49 | 0.59 | 0.54 | 0.57 | 0.59 | 0.69 | 0.76 | 0.88 | 0.93 |
| Average receivables | $31.8M | $27.6M | $23.6M | $20.8M | $19.6M | $18.1M | $16.1M | $15.4M | $14.1M | $12.6M |
| Average payables | $2.7M | $2.7M | $3.3M | $2.6M | $2.4M | $2.5M | $2.2M | $1.6M | $1.4M | $1.3M |
| Average inventory | $63.2M | $54.1M | $48.8M | $43.0M | $39.9M | $36.9M | $30.1M | $23.3M | $20.3M | $17.4M |
| Intangibles / total assets | 16.1% | 18.4% | 31.0% | 36.2% | 40.5% | 49.4% | 34.4% | 28.5% | 25.4% | 32.7% |
Computed from LMAT's annual financial statements (latest annual report filed February 26, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
LMAT valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), LeMaitre Vascular traded at 32.2 times earnings, against a 10-year median of 40.4. Based on the latest twelve months, the trailing P/E is 28.4 and the forward P/E is 25.6. LeMaitre Vascular earned a return on equity of 15.8% and a return on invested capital of 23.5% in fiscal 2025. It ended the year with $185.6 million of debt and $359.1 million in cash and short-term investments, a net cash position of $173.5 million. It returned $18.1 million to shareholders: $18.1 million in dividends and $0 in share buybacks, 24% of free cash flow. The share count rose 19.2% from 19.2M to 22.9M over 9 years.
See the LMAT income statement, the LMAT chart for price history, or the LMAT stock overview for the latest quote and news.
LMAT key metrics FAQ
What is LeMaitre Vascular's P/E ratio?
LeMaitre Vascular's trailing P/E ratio is 28.4 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 25.6. At the end of fiscal 2025 it was 32.2, compared with a 10-year median of 40.4.
What is LeMaitre Vascular's EV/EBITDA?
LeMaitre Vascular's enterprise value was 18.6 times EBITDA at the end of fiscal 2025 (enterprise value $1.7 billion, EBITDA $90.8 million); the current EV/EBITDA is 16.5.
What is LeMaitre Vascular's return on equity?
LeMaitre Vascular's return on equity (ROE) was 15.8% in fiscal 2025: net income of $57.7 million on average shareholders' equity of $365.4 million.
What is LeMaitre Vascular's ROIC?
LeMaitre Vascular's return on invested capital was 23.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does LeMaitre Vascular have?
LeMaitre Vascular had total debt of $185.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.47 and more cash than debt.
What is LeMaitre Vascular's dividend yield?
LeMaitre Vascular's forward dividend yield is 1.24%. LeMaitre Vascular paid $18.1 million in dividends in fiscal 2025 ($0.79 per share), a payout ratio of 31.4%.
What is LeMaitre Vascular's free cash flow yield?
LeMaitre Vascular generated $74.5 million of free cash flow in fiscal 2025, a free cash flow yield of 4.0% on its market value at year-end ($1.9 billion).
What is LeMaitre Vascular's current ratio?
LeMaitre Vascular's current ratio was 12.89 at the end of fiscal 2025: current assets were 12.89 times current liabilities.