LEMAITRE VASCULAR INC (LMAT) Stock Fundamental Analysis
NASDAQ:LMAT - Nasdaq - US5255582018 - Common Stock - Currency: USD
Overall LMAT gets a fundamental rating of 8 out of 10. We evaluated LMAT against 190 industry peers in the Health Care Equipment & Supplies industry. LMAT gets an excellent profitability rating and is at the same time showing great financial health properties. LMAT is growing strongly while it is still valued neutral. This is a good combination! Finally LMAT also has an excellent dividend rating. These ratings could make LMAT a good candidate for dividend and growth and quality investing.
1. Profitability
1.1 Basic Checks
LMAT had positive earnings in the past year.
In the past year LMAT had a positive cash flow from operations.
Each year in the past 5 years LMAT has been profitable.
Each year in the past 5 years LMAT had a positive operating cash flow.
1.2 Ratios
LMAT has a better Return On Assets (10.96%) than 92.02% of its industry peers.
LMAT has a better Return On Equity (12.48%) than 87.23% of its industry peers.
LMAT's Return On Invested Capital of 10.78% is amongst the best of the industry. LMAT outperforms 91.49% of its industry peers.
LMAT had an Average Return On Invested Capital over the past 3 years of 8.98%. This is in line with the industry average of 8.19%.
The last Return On Invested Capital (10.78%) for LMAT is above the 3 year average (8.98%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.96% | ||
| ROE | 12.48% | ||
| ROIC | 10.78% |
ROA(3y)8.17%
ROA(5y)8.48%
ROE(3y)9.46%
ROE(5y)10.55%
ROIC(3y)8.98%
ROIC(5y)9.18%
1.3 Margins
Looking at the Profit Margin, with a value of 19.40%, LMAT belongs to the top of the industry, outperforming 93.09% of the companies in the same industry.
In the last couple of years the Profit Margin of LMAT has declined.
LMAT has a better Operating Margin (23.29%) than 94.15% of its industry peers.
LMAT's Operating Margin has been stable in the last couple of years.
Looking at the Gross Margin, with a value of 68.34%, LMAT is in the better half of the industry, outperforming 77.66% of the companies in the same industry.
In the last couple of years the Gross Margin of LMAT has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 23.29% | ||
| PM (TTM) | 19.4% | ||
| GM | 68.34% |
OM growth 3Y-4.21%
OM growth 5Y-0.39%
PM growth 3Y-1.71%
PM growth 5Y-6.42%
GM growth 3Y0.15%
GM growth 5Y-1.27%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so LMAT is still creating some value.
The number of shares outstanding for LMAT has been increased compared to 1 year ago.
The number of shares outstanding for LMAT has been increased compared to 5 years ago.
LMAT has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
2.2 Solvency
An Altman-Z score of 31.36 indicates that LMAT is not in any danger for bankruptcy at the moment.
With an excellent Altman-Z score value of 31.36, LMAT belongs to the best of the industry, outperforming 97.87% of the companies in the same industry.
LMAT has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Altman-Z | 31.36 |
ROIC/WACC1.19
WACC9.06%
2.3 Liquidity
A Current Ratio of 7.74 indicates that LMAT has no problem at all paying its short term obligations.
LMAT has a better Current ratio (7.74) than 89.36% of its industry peers.
A Quick Ratio of 5.52 indicates that LMAT has no problem at all paying its short term obligations.
LMAT has a Quick ratio of 5.52. This is amongst the best in the industry. LMAT outperforms 84.57% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 7.74 | ||
| Quick Ratio | 5.52 |
3. Growth
3.1 Past
LMAT shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 51.24%, which is quite impressive.
LMAT shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 8.05% yearly.
LMAT shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 14.80%.
The Revenue has been growing by 12.87% on average over the past years. This is quite good.
EPS 1Y (TTM)51.24%
EPS 3Y7.46%
EPS 5Y8.05%
EPS Q2Q%48.48%
Revenue 1Y (TTM)14.8%
Revenue growth 3Y14.35%
Revenue growth 5Y12.87%
Sales Q2Q%15.63%
3.2 Future
LMAT is expected to show quite a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 18.55% yearly.
Based on estimates for the next years, LMAT will show a quite strong growth in Revenue. The Revenue will grow by 9.21% on average per year.
EPS Next Y47.98%
EPS Next 2Y28.49%
EPS Next 3Y22.03%
EPS Next 5Y18.55%
Revenue Next Year13.69%
Revenue Next 2Y11.62%
Revenue Next 3Y10.47%
Revenue Next 5Y9.21%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 54.39 indicates a quite expensive valuation of LMAT.
67.02% of the companies in the same industry are more expensive than LMAT, based on the Price/Earnings ratio.
Compared to an average S&P500 Price/Earnings ratio of 29.63, LMAT is valued quite expensively.
Based on the Price/Forward Earnings ratio of 44.99, the valuation of LMAT can be described as expensive.
Based on the Price/Forward Earnings ratio, LMAT is valued a bit cheaper than the industry average as 70.21% of the companies are valued more expensively.
LMAT's Price/Forward Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 22.68.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 54.39 | ||
| Fwd PE | 44.99 |
4.2 Price Multiples
LMAT's Enterprise Value to EBITDA ratio is a bit cheaper when compared to the industry. LMAT is cheaper than 69.15% of the companies in the same industry.
70.74% of the companies in the same industry are more expensive than LMAT, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 66.82 | ||
| EV/EBITDA | 33.94 |
4.3 Compensation for Growth
LMAT's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of LMAT may justify a higher PE ratio.
LMAT's earnings are expected to grow with 22.03% in the coming years. This may justify a more expensive valuation.
PEG (NY)1.13
PEG (5Y)6.76
EPS Next 2Y28.49%
EPS Next 3Y22.03%
5. Dividend
5.1 Amount
LMAT has a yearly dividend return of 0.63%, which is pretty low.
Compared to an average industry Dividend Yield of 1.67, LMAT pays a better dividend. On top of this LMAT pays more dividend than 91.49% of the companies listed in the same industry.
With a Dividend Yield of 0.63, LMAT pays less dividend than the S&P500 average, which is at 2.27.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.63% |
5.2 History
On average, the dividend of LMAT grows each year by 14.87%, which is quite nice.
LMAT has paid a dividend for at least 10 years, which is a reliable track record.
LMAT has not decreased their dividend for at least 10 years, which is a reliable track record.
Dividend Growth(5Y)14.87%
Div Incr Years13
Div Non Decr Years13
5.3 Sustainability
LMAT pays out 33.63% of its income as dividend. This is a sustainable payout ratio.
LMAT's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP33.63%
EPS Next 2Y28.49%
EPS Next 3Y22.03%
99.54
-1.38 (-1.37%)
Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupHealth Care Equipment & Services
GICS IndustryHealth Care Equipment & Supplies
Earnings (Last)
Earnings (Next)
Inst Owners96.19%
Inst Owner Change-78.61%
Ins Owners8.87%
Ins Owner Change-0.1%
Market Cap2.24B
Analysts82.5
Price Target100.98 (1.45%)
Short Float %6.36%
Short Ratio7.22
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.63% |
Yearly Dividend0.56
Dividend Growth(5Y)14.87%
DP33.63%
Div Incr Years13
Div Non Decr Years13
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)9.29%
Min EPS beat(2)8.14%
Max EPS beat(2)10.44%
EPS beat(4)4
Avg EPS beat(4)8.56%
Min EPS beat(4)4.29%
Max EPS beat(4)11.39%
EPS beat(8)7
Avg EPS beat(8)6.6%
EPS beat(12)7
Avg EPS beat(12)-1.21%
EPS beat(16)10
Avg EPS beat(16)0.41%
Revenue beat(2)1
Avg Revenue beat(2)0.01%
Min Revenue beat(2)-0.42%
Max Revenue beat(2)0.45%
Revenue beat(4)2
Avg Revenue beat(4)-0.1%
Min Revenue beat(4)-2.24%
Max Revenue beat(4)1.79%
Revenue beat(8)4
Avg Revenue beat(8)0.42%
Revenue beat(12)5
Avg Revenue beat(12)-0.3%
Revenue beat(16)7
Avg Revenue beat(16)-0.09%
PT rev (1m)-0.45%
PT rev (3m)-0.45%
EPS NQ rev (1m)0.15%
EPS NQ rev (3m)0.15%
EPS NY rev (1m)0.03%
EPS NY rev (3m)0.03%
Revenue NQ rev (1m)0.01%
Revenue NQ rev (3m)0.01%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 54.39 | ||
| Fwd PE | 44.99 | ||
| P/S | 10.5 | ||
| P/FCF | 66.82 | ||
| P/OCF | 56.39 | ||
| P/B | 6.76 | ||
| P/tB | 9.82 | ||
| EV/EBITDA | 33.94 |
EPS(TTM)1.83
EY1.84%
EPS(NY)2.21
Fwd EY2.22%
FCF(TTM)1.49
FCFY1.5%
OCF(TTM)1.77
OCFY1.77%
SpS9.48
BVpS14.73
TBVpS10.13
PEG (NY)1.13
PEG (5Y)6.76
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 10.96% | ||
| ROE | 12.48% | ||
| ROCE | 14.27% | ||
| ROIC | 10.78% | ||
| ROICexc | 16.76% | ||
| ROICexgc | 31.11% | ||
| OM | 23.29% | ||
| PM (TTM) | 19.4% | ||
| GM | 68.34% | ||
| FCFM | 15.72% |
ROA(3y)8.17%
ROA(5y)8.48%
ROE(3y)9.46%
ROE(5y)10.55%
ROIC(3y)8.98%
ROIC(5y)9.18%
ROICexc(3y)12.71%
ROICexc(5y)12.14%
ROICexgc(3y)28.49%
ROICexgc(5y)27.32%
ROCE(3y)11.88%
ROCE(5y)12.15%
ROICexcg growth 3Y-1.43%
ROICexcg growth 5Y-6.38%
ROICexc growth 3Y7.59%
ROICexc growth 5Y-6.26%
OM growth 3Y-4.21%
OM growth 5Y-0.39%
PM growth 3Y-1.71%
PM growth 5Y-6.42%
GM growth 3Y0.15%
GM growth 5Y-1.27%
F-Score7
Asset Turnover0.57
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0 | ||
| Debt/FCF | 0 | ||
| Debt/EBITDA | 0 | ||
| Cap/Depr | 64.26% | ||
| Cap/Sales | 2.91% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 66.98% | ||
| Profit Quality | 81.05% | ||
| Current Ratio | 7.74 | ||
| Quick Ratio | 5.52 | ||
| Altman-Z | 31.36 |
F-Score7
WACC9.06%
ROIC/WACC1.19
Cap/Depr(3y)51.56%
Cap/Depr(5y)51.91%
Cap/Sales(3y)2.97%
Cap/Sales(5y)2.88%
Profit Quality(3y)105.94%
Profit Quality(5y)105.22%
High Growth Momentum
Growth
EPS 1Y (TTM)51.24%
EPS 3Y7.46%
EPS 5Y8.05%
EPS Q2Q%48.48%
EPS Next Y47.98%
EPS Next 2Y28.49%
EPS Next 3Y22.03%
EPS Next 5Y18.55%
Revenue 1Y (TTM)14.8%
Revenue growth 3Y14.35%
Revenue growth 5Y12.87%
Sales Q2Q%15.63%
Revenue Next Year13.69%
Revenue Next 2Y11.62%
Revenue Next 3Y10.47%
Revenue Next 5Y9.21%
EBIT growth 1Y46.08%
EBIT growth 3Y9.54%
EBIT growth 5Y12.44%
EBIT Next Year83.57%
EBIT Next 3Y32.2%
EBIT Next 5Y27.2%
FCF growth 1Y40.83%
FCF growth 3Y-2.51%
FCF growth 5Y12.37%
OCF growth 1Y50.6%
OCF growth 3Y1.83%
OCF growth 5Y13.5%