LeMaitre Vascular Inc. Common Stock (LMAT)

FairStock Score: 50/100 — MIXED

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Graham-Buffett investor, I start with the business. LeMaitre sells specialized vascular devices and implants, a niche where regulatory burdens and surgeon relationships can create stickiness. The moat is likely narrow but real. The numbers show a real compounder. From fiscal 2023 to fiscal 2025, revenue rose from $193.5M to $249.6M, net income from $30.1M to $57.7M, and diluted EPS from $1.34 to $2.52. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $70.4M and net income $17.1M, with a 24.22% net margin; that compares with $64.2M revenue and $13.8M net income in fiscal Q2 2025, the quarter ended 2025-06-30. FairStock calls it a FAST GROWER because profit grew 22.2% a year over five years and revenue 14.0%. Financial health looks decent: Altman Z 6.61, D/E 0.45, FCF $73.8M, FairStock's FCF yield 4.0%, and Piotroski 6/9. But the price gives me pause. At the 2026-10-13 close of $81.55, FairStock calculates P/E 28.51, P/B 4.44, EV/EBITDA 20.20, and PEG 0.73. The Graham Number is $34.39, implying a -137.13% margin of safety—no Graham-style bargain. FairStock calculates ROE at 16.77% but ROCE at only 7.44%, so returns on total capital are not exceptional. The company is growing and profitable, but the stock already reflects much of that. I would want either a lower price or evidence that returns on capital and free cash flow are improving before calling it compelling.

In plain English: LeMaitre Vascular makes specialized medical devices and implants used in blood vessel surgery. The business looks strong: sales and profits have grown, cash flow is positive, and the balance sheet appears healthy. But the stock price looks high compared with how much profit the company makes and what its assets are worth on paper, so it does not look like a bargain at the recent close.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer