LeMaitre Vascular (LMAT) financial statements
LeMaitre Vascular reported revenue of $250M in fiscal 2025, up 12.1% a year over 9 years.
Net income was $58M and the operating margin 27.2%, against 18.3% in 2016.
Free cash flow was $74M, and the company returned $18M in dividends and $2M in net buybacks.
The diluted share count rose 19% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from LeMaitre Vascular's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $89M | $101M | $106M | $117M | $129M | $154M | $162M | $193M | $220M | $250M |
| Cost of revenue | $26M | $30M | $32M | $37M | $45M | $53M | $57M | $66M | $69M | $71M |
| Gross profit | $63M | $71M | $74M | $80M | $85M | $101M | $105M | $127M | $151M | $179M |
| Research and development | $6M | $7M | $8M | $9M | $10M | $12M | $13M | $17M | $16M | $14M |
| Selling, general and admin | $40M | $43M | $45M | $49M | $46M | $53M | $62M | $73M | $83M | $96M |
| Operating income | $16M | $21M | $28M | $21M | $29M | $36M | $27M | $37M | $52M | $68M |
| Interest expense | $14,000 | $21,000 | $2,000 | $0 | $1M | $2M | $0 | $0 | $205,000 | $5M |
| Pre-tax income | $16M | $21M | $28M | $22M | $27M | $34M | $27M | $39M | $57M | $75M |
| Income tax | $6M | $4M | $6M | $4M | $6M | $7M | $7M | $9M | $13M | $17M |
| Net income | $11M | $17M | $23M | $18M | $21M | $27M | $21M | $30M | $44M | $58M |
| EPS (diluted) | $0.55 | $0.86 | $1.13 | $0.88 | $1.04 | $1.25 | $0.93 | $1.34 | $1.93 | $2.52 |
| Diluted shares | 19M | 20M | 20M | 20M | 20M | 21M | 22M | 22M | 23M | 23M |
| Gross margin | 70.6% | 70.1% | 70.0% | 68.1% | 65.4% | 65.7% | 64.9% | 65.7% | 68.6% | 71.5% |
| Operating margin | 18.3% | 20.9% | 26.7% | 18.1% | 22.3% | 23.6% | 16.6% | 19.0% | 23.8% | 27.2% |
| Net margin | 11.9% | 17.0% | 21.7% | 15.3% | 16.4% | 17.4% | 12.8% | 15.6% | 20.0% | 23.1% |
Balance sheet
Fiscal years, from LeMaitre Vascular's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $24M | $42M | $48M | $33M | $27M | $70M | $83M | $105M | $300M | $359M |
| Receivables | $13M | $15M | $16M | $17M | $20M | $20M | $22M | $25M | $30M | $34M |
| Inventory | $20M | — | — | — | — | — | — | — | — | — |
| Total current assets | $59M | $80M | $94M | $92M | $94M | $140M | $162M | $195M | $402M | $468M |
| Property, plant and equipment | $8M | $12M | $14M | $15M | $15M | $17M | $18M | $22M | $25M | $27M |
| Goodwill | $23M | $24M | $30M | $40M | $66M | $66M | $66M | $66M | $66M | $66M |
| Total assets | $102M | $126M | $153M | $188M | $253M | $293M | $310M | $347M | $552M | $616M |
| Total current liabilities | $10M | $13M | $20M | $21M | $25M | $22M | $25M | $30M | $31M | $36M |
| Total liabilities | $14M | $17M | $23M | $40M | $80M | $39M | $42M | $49M | $215M | $222M |
| Shareholders' equity | $88M | $110M | $130M | $148M | $173M | $254M | $268M | $298M | $337M | $394M |
| Net debt | -$24M | -$19M | -$26M | -$12M | -$27M | -$14M | -$19M | -$24M | -$26M | -$28M |
Cash flow
Fiscal years, from LeMaitre Vascular's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $17M | $23M | $20M | $14M | $35M | $35M | $25M | $37M | $44M | $81M |
| Capital spending | $3M | $6M | $3M | $4M | $3M | $5M | $3M | $7M | $7M | $7M |
| Free cash flow | $14M | $16M | $16M | $10M | $32M | $30M | $22M | $29M | $37M | $74M |
| Stock-based compensation | $2M | $2M | $2M | $3M | $3M | $3M | $4M | $5M | $7M | $8M |
| Dividends paid | $3M | $4M | $5M | $7M | $8M | $9M | $11M | $12M | $14M | $18M |
| Share buybacks (net) | -$311,000 | -$778,000 | -$741,000 | -$683,000 | -$570,000 | -$802,000 | -$642,000 | -$853,000 | -$2M | -$2M |
| Free cash flow margin | 15.8% | 16.3% | 15.6% | 8.9% | 24.6% | 19.6% | 13.7% | 15.2% | 16.9% | 29.8% |
| Dividends per share | $0.17 | $0.21 | $0.27 | $0.33 | $0.38 | $0.43 | $0.50 | $0.56 | $0.63 | $0.79 |
Questions
What was LeMaitre Vascular's revenue in 2025?
$250M in fiscal 2025, from its 10-K filing.
How much free cash flow does LeMaitre Vascular generate?
$74M in fiscal 2025 (operating cash flow minus capital spending).
From LeMaitre Vascular's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.