LEMAITRE VASCULAR INC (LMAT) Stock Fundamental Analysis
NASDAQ:LMAT - Nasdaq - US5255582018 - Common Stock - Currency: USD
Overall LMAT gets a fundamental rating of 7 out of 10. We evaluated LMAT against 191 industry peers in the Health Care Equipment & Supplies industry. LMAT has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. LMAT has a decent growth rate and is not valued too expensively. These ratings would make LMAT suitable for quality investing!
1. Profitability
1.1 Basic Checks
LMAT had positive earnings in the past year.
LMAT had a positive operating cash flow in the past year.
Each year in the past 5 years LMAT has been profitable.
In the past 5 years LMAT always reported a positive cash flow from operatings.
1.2 Ratios
The Return On Assets of LMAT (7.98%) is better than 89.01% of its industry peers.
LMAT has a Return On Equity of 13.06%. This is amongst the best in the industry. LMAT outperforms 88.48% of its industry peers.
LMAT's Return On Invested Capital of 7.70% is amongst the best of the industry. LMAT outperforms 86.39% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for LMAT is in line with the industry average of 7.68%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.98% | ||
| ROE | 13.06% | ||
| ROIC | 7.7% |
ROA(3y)7.77%
ROA(5y)8.17%
ROE(3y)10.28%
ROE(5y)10.74%
ROIC(3y)8.26%
ROIC(5y)8.93%
1.3 Margins
Looking at the Profit Margin, with a value of 20.03%, LMAT belongs to the top of the industry, outperforming 93.19% of the companies in the same industry.
LMAT's Profit Margin has improved in the last couple of years.
LMAT's Operating Margin of 23.77% is amongst the best of the industry. LMAT outperforms 94.76% of its industry peers.
In the last couple of years the Operating Margin of LMAT has grown nicely.
LMAT's Gross Margin of 68.63% is fine compared to the rest of the industry. LMAT outperforms 75.39% of its industry peers.
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 | 23.77% | ||
| PM (TTM) | 20.03% | ||
| GM | 68.63% |
OM growth 3Y0.27%
OM growth 5Y5.61%
PM growth 3Y4.76%
PM growth 5Y5.57%
GM growth 3Y1.48%
GM growth 5Y0.13%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so LMAT is destroying value.
The number of shares outstanding for LMAT has been increased compared to 1 year ago.
LMAT has more shares outstanding than it did 5 years ago.
The debt/assets ratio for LMAT is higher compared to a year ago.
2.2 Solvency
LMAT has an Altman-Z score of 7.23. This indicates that LMAT is financially healthy and has little risk of bankruptcy at the moment.
LMAT has a better Altman-Z score (7.23) than 88.48% of its industry peers.
LMAT has a debt to FCF ratio of 4.51. This is a neutral value as LMAT would need 4.51 years to pay back of all of its debts.
LMAT's Debt to FCF ratio of 4.51 is amongst the best of the industry. LMAT outperforms 83.25% of its industry peers.
LMAT has a Debt/Equity ratio of 0.50. This is a healthy value indicating a solid balance between debt and equity.
LMAT has a Debt to Equity ratio (0.50) which is in line with its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.5 | ||
| Debt/FCF | 4.51 | ||
| Altman-Z | 7.23 |
ROIC/WACC0.86
WACC9.01%
2.3 Liquidity
A Current Ratio of 13.14 indicates that LMAT has no problem at all paying its short term obligations.
LMAT's Current ratio of 13.14 is amongst the best of the industry. LMAT outperforms 96.86% of its industry peers.
LMAT has a Quick Ratio of 11.02. This indicates that LMAT is financially healthy and has no problem in meeting its short term obligations.
LMAT has a better Quick ratio (11.02) than 96.34% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 13.14 | ||
| Quick Ratio | 11.02 |
3. Growth
3.1 Past
The Earnings Per Share has grown by an impressive 44.78% over the past year.
The Earnings Per Share has been growing by 17.13% on average over the past years. This is quite good.
LMAT shows quite a strong growth in Revenue. In the last year, the Revenue has grown by 13.63%.
LMAT shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 13.41% yearly.
EPS 1Y (TTM)44.78%
EPS 3Y15.47%
EPS 5Y17.13%
EPS Q2Q%28.95%
Revenue 1Y (TTM)13.63%
Revenue growth 3Y12.5%
Revenue growth 5Y13.41%
Sales Q2Q%13.98%
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 9.98% yearly.
Based on estimates for the next years, LMAT will show a quite strong growth in Revenue. The Revenue will grow by 8.51% on average per year.
EPS Next Y17.62%
EPS Next 2Y13.98%
EPS Next 3Y12.67%
EPS Next 5Y9.98%
Revenue Next Year8.69%
Revenue Next 2Y8.59%
Revenue Next 3Y8.74%
Revenue Next 5Y8.51%
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 decreasing.
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
Based on the Price/Earnings ratio of 43.67, the valuation of LMAT can be described as expensive.
Based on the Price/Earnings ratio, LMAT is valued a bit cheaper than the industry average as 69.11% of the companies are valued more expensively.
When comparing the Price/Earnings ratio of LMAT to the average of the S&P500 Index (27.63), we can say LMAT is valued expensively.
Based on the Price/Forward Earnings ratio of 37.13, the valuation of LMAT can be described as expensive.
Compared to the rest of the industry, the Price/Forward Earnings ratio of LMAT indicates a somewhat cheap valuation: LMAT is cheaper than 71.20% of the companies listed in the same industry.
Compared to an average S&P500 Price/Forward Earnings ratio of 20.85, LMAT is valued quite expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 43.67 | ||
| Fwd PE | 37.13 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, LMAT is valued a bit cheaper than the industry average as 70.68% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, LMAT is valued a bit cheaper than 73.30% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 51.43 | ||
| EV/EBITDA | 24.31 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates an expensive valuation of the company.
The excellent profitability rating of LMAT may justify a higher PE ratio.
A more expensive valuation may be justified as LMAT's earnings are expected to grow with 12.66% in the coming years.
PEG (NY)2.48
PEG (5Y)2.55
EPS Next 2Y13.98%
EPS Next 3Y12.67%
5. Dividend
5.1 Amount
LMAT has a yearly dividend return of 0.93%, which is pretty low.
LMAT's Dividend Yield is rather good when compared to the industry average which is at 1.94. LMAT pays more dividend than 91.62% of the companies in the same industry.
With a Dividend Yield of 0.93, LMAT pays less dividend than the S&P500 average, which is at 2.51.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.93% |
5.2 History
The dividend of LMAT is nicely growing with an annual growth rate of 13.60%!
LMAT has been paying a dividend for at least 10 years, so it has a reliable track record.
LMAT has not decreased its dividend for at least 10 years, so it has a reliable track record of non decreasing dividend.
Dividend Growth(5Y)13.6%
Div Incr Years13
Div Non Decr Years13
5.3 Sustainability
32.65% of the earnings are spent on dividend by LMAT. This is a low number and sustainable payout ratio.
The dividend of LMAT is growing, but the earnings are growing slower. This means the dividend growth is not sustainable.
DP32.65%
EPS Next 2Y13.98%
EPS Next 3Y12.67%
84.72
-1.56 (-1.81%)
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 Change0.31%
Ins Owners8.87%
Ins Owner Change-0.1%
Market Cap1.91B
Analysts76.47
Price Target107.74 (27.17%)
Short Float %5.63%
Short Ratio5.8
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 0.93% |
Yearly Dividend0.64
Dividend Growth(5Y)13.6%
DP32.65%
Div Incr Years13
Div Non Decr Years13
Ex-Date
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)3.97%
Min EPS beat(2)-2.5%
Max EPS beat(2)10.44%
EPS beat(4)3
Avg EPS beat(4)6.87%
Min EPS beat(4)-2.5%
Max EPS beat(4)11.39%
EPS beat(8)7
Avg EPS beat(8)6.94%
EPS beat(12)7
Avg EPS beat(12)-0.55%
EPS beat(16)9
Avg EPS beat(16)-0.6%
Revenue beat(2)1
Avg Revenue beat(2)-0.97%
Min Revenue beat(2)-2.38%
Max Revenue beat(2)0.45%
Revenue beat(4)2
Avg Revenue beat(4)-0.14%
Min Revenue beat(4)-2.38%
Max Revenue beat(4)1.79%
Revenue beat(8)4
Avg Revenue beat(8)0.38%
Revenue beat(12)5
Avg Revenue beat(12)-0.29%
Revenue beat(16)6
Avg Revenue beat(16)-0.46%
PT rev (1m)0%
PT rev (3m)6.22%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-2.16%
EPS NY rev (1m)3.14%
EPS NY rev (3m)3.25%
Revenue NQ rev (1m)0.01%
Revenue NQ rev (3m)-1.33%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.84%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 43.67 | ||
| Fwd PE | 37.13 | ||
| P/S | 8.69 | ||
| P/FCF | 51.43 | ||
| P/OCF | 43.32 | ||
| P/B | 5.67 | ||
| P/tB | 8.11 | ||
| EV/EBITDA | 24.31 |
EPS(TTM)1.94
EY2.29%
EPS(NY)2.28
Fwd EY2.69%
FCF(TTM)1.65
FCFY1.94%
OCF(TTM)1.96
OCFY2.31%
SpS9.75
BVpS14.95
TBVpS10.44
PEG (NY)2.48
PEG (5Y)2.55
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.98% | ||
| ROE | 13.06% | ||
| ROCE | 10.03% | ||
| ROIC | 7.7% | ||
| ROICexc | 18.13% | ||
| ROICexgc | 33.54% | ||
| OM | 23.77% | ||
| PM (TTM) | 20.03% | ||
| GM | 68.63% | ||
| FCFM | 16.9% |
ROA(3y)7.77%
ROA(5y)8.17%
ROE(3y)10.28%
ROE(5y)10.74%
ROIC(3y)8.26%
ROIC(5y)8.93%
ROICexc(3y)14.32%
ROICexc(5y)13.54%
ROICexgc(3y)28.83%
ROICexgc(5y)29.82%
ROCE(3y)10.75%
ROCE(5y)11.62%
ROICexcg growth 3Y-0.4%
ROICexcg growth 5Y7.52%
ROICexc growth 3Y9.22%
ROICexc growth 5Y8.43%
OM growth 3Y0.27%
OM growth 5Y5.61%
PM growth 3Y4.76%
PM growth 5Y5.57%
GM growth 3Y1.48%
GM growth 5Y0.13%
F-Score5
Asset Turnover0.4
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.5 | ||
| Debt/FCF | 4.51 | ||
| Debt/EBITDA | 2.71 | ||
| Cap/Depr | 72% | ||
| Cap/Sales | 3.17% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 71.25% | ||
| Profit Quality | 84.39% | ||
| Current Ratio | 13.14 | ||
| Quick Ratio | 11.02 | ||
| Altman-Z | 7.23 |
F-Score5
WACC9.01%
ROIC/WACC0.86
Cap/Depr(3y)60.87%
Cap/Depr(5y)52.43%
Cap/Sales(3y)2.97%
Cap/Sales(5y)2.88%
Profit Quality(3y)96.62%
Profit Quality(5y)110.46%
High Growth Momentum
Growth
EPS 1Y (TTM)44.78%
EPS 3Y15.47%
EPS 5Y17.13%
EPS Q2Q%28.95%
EPS Next Y17.62%
EPS Next 2Y13.98%
EPS Next 3Y12.67%
EPS Next 5Y9.98%
Revenue 1Y (TTM)13.63%
Revenue growth 3Y12.5%
Revenue growth 5Y13.41%
Sales Q2Q%13.98%
Revenue Next Year8.69%
Revenue Next 2Y8.59%
Revenue Next 3Y8.74%
Revenue Next 5Y8.51%
EBIT growth 1Y40.49%
EBIT growth 3Y12.81%
EBIT growth 5Y19.77%
EBIT Next Year40.88%
EBIT Next 3Y20.71%
EBIT Next 5YN/A
FCF growth 1Y26.03%
FCF growth 3Y7.14%
FCF growth 5Y28.96%
OCF growth 1Y20.06%
OCF growth 3Y7.93%
OCF growth 5Y25.49%