LeMaitre Vascular, Inc. develops, manufactures, and markets medical devices and implants used in the field of vascular surgery in the Americas, Europe, the Middle Esat, Africa, and the Asia Pacific. The company offers allografts, which are cryopreserved human tissue grafts used in vascular reconstruction, and cardiac repair and reconstruction; embolectomy catheters to remove blood clots from arteries; thrombectomy catheters for removing thrombi in the venous system; occlusion catheters that temporarily occlude blood flow; and perfusion catheters to perfuse the blood and other fluids into the vasculature, as well as human cadaver tissue cryopreservation services. It provides a suite of biologic products comprising artegraft biologic graft, a bovine carotid artery used for dialysis access; XenoSure biologic patches used for vessel closure after surgical intervention; VascuCel and CardioCel biologic patches, used in vessel repair, heart repair and reconstruction, and neonatal repairs; carotid shunts that temporarily shunt the blood to the brain; biosynthetic vascular grafts indicated for lower extremity bypass and dialysis access; phlebectomy system for resection and ablation of varicose veins; LifeSpan vascular grafts, which are expanded polytetrafluoroethylene grafts; and vascular grafts used to bypass or replace diseased arteries. In addition, the company offers radiopaque tape, a medical-grade tape; valvulotomes, which cut or disrupt valves in the saphenous vein to function as an artery to carry blood past diseased arteries to the lower leg or the foot; and closure systems to attach vessels to one another with titanium clips instead of sutures. It markets its products through a direct sales force and distributors. The company was formerly known as Vascutech, Inc. and changed its name to LeMaitre Vascular, Inc. in April 2001. LeMaitre Vascular, Inc. was incorporated in 1983 and is headquartered in Burlington, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $250M | $91M | $58M | $74M | 14.7% | 13.5% | 31.1% |
| 2024 | $220M | $67M | $44M | $37M | 13.1% | 13.6% | 46.3% |
| 2023 | $193M | $49M | $30M | $29M | 10.1% | 19.7% | 45.9% |
| 2022 | $162M | $37M | $21M | $22M | 7.7% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 161.65 | 193.48 | 219.86 | 249.60 |
| Cost Of Revenue | - | 56.76 | 66.44 | 68.96 | 71.06 |
| Gross Profit | - | 104.90 | 127.05 | 150.90 | 178.54 |
| Operating Expense | - | 74.96 | 89.85 | 98.64 | 110.63 |
| Operating Income | - | 29.94 | 37.20 | 52.26 | 67.91 |
| EBITDA | - | 36.92 | 48.99 | 66.69 | 90.79 |
| EBIT | - | 27.49 | 39.48 | 57.08 | 80.37 |
| Pretax Income | - | 27.49 | 39.48 | 56.88 | 75.18 |
| Tax Provision | - | 6.85 | 9.37 | 12.84 | 17.45 |
| Net Income | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Net Income Common Stockholders | - | 20.64 | 30.10 | 44.04 | 57.73 |
| Total Expenses | - | 131.72 | 156.29 | 167.61 | 181.69 |
| Interest Expense | - | 0 | 0 | 0.20 | 5.18 |
| Interest Income | 0.20 | 0.99 | 3.08 | 4.95 | - |
| Research And Development | - | 13.29 | 16.97 | 15.65 | 14.14 |
| Selling General And Administration | - | 61.67 | 72.89 | 83 | 96.49 |
| Normalized EBITDA | - | 40.03 | 46.40 | 61.74 | 77.69 |
| Normalized Income | - | 22.97 | 28.13 | 40.21 | 47.68 |
| Market Cap | 2,592.08 | 2,592.08 | 2,592.08 | 2,592.08 | 2,592.08 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| LeMaitre Vascular, Inc.this co. | LMAT | $2.6B | 44.90β premium | 6.59 | 14.7% | 30.28 |
| ICU Medical, Inc. | ICUI | $3.0B | 4261.68 | 1.47 | 0.0% | 13.89 |
| Integer Holdings Corporation | ITGR | $3.0B | 28.79 | 1.69 | 5.9% | 14.55 |
| Organon & Co. | OGN | $2.9B | 15.67 | 3.90 | 24.9% | 8.53 |
| Prestige Consumer Healthcare Inc. | PBH | $2.9B |
| - |
| - |
| - |
| - |
| - |
| 13.00 |
| 1.52 |
| 11.7% |
| 10.32 |
| Privia Health Group, Inc. | PRVA | $2.9B | 130.67 | 4.06 | 3.1% | 57.20 |
| Veracyte, Inc. | VCYT | $2.7B | 41.28 | 2.09 | 5.1% | 26.96 |
| National HealthCare Corporation | NHC | $2.7B | 22.47 | 2.52 | 11.2% | 12.59 |
| Phibro Animal Health Corporation | PAHC | $2.2B | 46.33 | 7.83 | 16.9% | 19.95 |
| Peer Median | - | 35.04 | 2.31 | 8.6% | 14.22 | |