LeMaitre Vascular Inc (LMAT) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of LeMaitre Vascular Inc stock $91.84, price $80.89, upside +13.5%, quality 64 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $37.40 – $116.75 · fair‑value band $62.84 – $119.38 · the $80.89 price screens below the $91.84 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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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.
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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.
Stock analysis
LeMaitre Vascular Inc (LMAT) currently trades at $80.89, while our model-based Fair Value estimate is $91.84, implying the stock looks roughly 12% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $63.04 per share, and 2 of the 26 models we run sit above the $80.89 price.
Bear case: the Asset-Based group reads lowest at $10.76, and 24 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: $62.84 (bear) to $119.38 (bull), the price of $80.89 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Healthcare sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
LeMaitre Vascular Inc reported revenue of $250M in FY2025 versus $154M in FY2021, a compound +12.8%/yr. Reported net income was $57.7M in FY2025, compounding +21.0%/yr from FY2021.
Key figures
Market cap $2.0B Small · P/E ratio 26.0 · P/S ratio 7.56 · EPS (TTM) $3.11 · Dividend yield 1.1% · Net margin 25.0% · Return on equity 16.8% · Return on assets (EBIT) 10.4% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 77 out of 100 (low confidence).
What moves the price
The share trades about 31% below its 52-week high and 3% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Healthcare peers we cover trades at −45% fair-value upside, at 14%, LMAT screens cheaper than that median.
Fair Value models
Bear$62.84Fair Value $91.84Bull$119.38
Price $80.89 · Upside +13.5%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.89 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleTrent G KamkeSenior V. P., Operations3× since Feb 27, 2026: 6,597 shares, avg. $108.12$713,251May 8, 2026
SaleGeorge W LeMaitreChairman and CEO, Director2× since Feb 26, 2026: 252,411 shares, avg. $107.27$27.1MMay 8, 2026
SaleLawrence J JasinskiDirector3,943 shares at $110.00$433,730May 7, 2026
SaleBridget A RossDirector5,044 shares at $111.10$560,388May 7, 2026
SaleDavid B RobertsPresident and Director, Director2× since Feb 27, 2026: 11,776 shares, avg. $107.05$1.3MMar 11, 2026
Plus 2 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+13.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+15.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.0%
Start year 2020 (pandemic). Over 10 years: +12.3% a year
Revenue growth 24 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+13.3%
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What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+20.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+19.4%
Dividend (yield on the price)1.1%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.19.4% vs 19.5%, steady
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.22% → 27%
2025 sits 88% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Price in line with expectations
The price assumes less growth than the company has delivered so far and about what analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+9.7%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+8.7%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +7.1% a year for the price and +6.1% for the forecasts.
News mood ⓘNews mood, the average tone of recent news (98 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Positive
Recent news coverage is more positive than average.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Medical Instruments & Supplies · 181 stocks
Beats the industry median on 7/15 measures
A mixed picture versus its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside+13.5% · Above median
Profitability
Return on equity (12 months)16.8% · Top 25%
Return on assets9.4% · Top 25%
Net margin (12 months)25.0% · Top 25%
Operating margin (12 months)29.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)9.6% · Above median
Dividend yield (12 months)1.1% · Below median
Balance sheet
Debt / equity0.43× · Highest 25%
Valuation Multiplesvs Medical Instruments & Supplies median · lower = cheaper
P/E (12 months)26.0× · Pricier than median
P/B5.04× · Priciest 25%
P/S (12 months)7.56× · Priciest 25%
Price / free cash flow (fiscal year)26.7× · Pricier than median
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Is LeMaitre Vascular Inc (LMAT) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $91.84 versus a price of $80.89, about +14% upside (undervalued).
What is the fair value of LMAT?
Our model-based fair value for LeMaitre Vascular Inc is $91.84 (as of Nov 6, 2026), built from audited fundamentals. The current price: $80.89.
What is the quality score of LMAT?
LeMaitre Vascular Inc has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for LeMaitre Vascular Inc (LMAT)?
Our model-based price target is the fair value of $91.84 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario $62.84, optimistic scenario $119.38. It is a calculation from audited fundamentals, not an analyst target.
What is the LeMaitre Vascular Inc stock forecast for 2026?
Our models put fair value at $91.84, about +14% upside versus a price of $80.89 (undervalued). Cautious scenario $62.84, optimistic scenario $119.38. The calculation is refreshed regularly with new filings.
What is the revenue of LeMaitre Vascular Inc (LMAT)?
LeMaitre Vascular Inc reported trailing-twelve-month revenue of about $262M (latest available figure, as of Nov 6, 2026).
Does LeMaitre Vascular Inc pay a dividend?
LeMaitre Vascular Inc currently shows a dividend yield of 1.11% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of LeMaitre Vascular Inc (LMAT) and when is the ex-dividend date?
LeMaitre Vascular Inc pays a dividend of $0.9 per share a year, a dividend yield of 1.1%. The last ex-dividend date was Aug 20, 2026. A dividend has been paid every year since at least 2011. The payout ratio is 28.9% of earnings. Free cash flow covers the dividend 3.62 times. Our assessment: Well covered. A low payout and the dividend is fully funded by free cash flow, a comfortable, sustainable dividend.
What growth is priced into LeMaitre Vascular Inc (LMAT)?
For today's price to be fair in a discounted-cash-flow model, LeMaitre Vascular Inc would have to grow free cash flow by +9.7 % per year for five years (discount rate 8.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +14.1 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of LMAT use?
Our models discount LeMaitre Vascular Inc at 8.5 %: a base by market capitalisation (mid), damped by beta 0.49, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For LeMaitre Vascular Inc that is +9.7 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.5 %) and the same formula as our fair value.
How much growth has LeMaitre Vascular Inc (LMAT) delivered so far?
Over the past 5 years revenue at LeMaitre Vascular Inc grew +14.1 % a year. The price currently implies free-cash-flow growth of +9.7 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of LeMaitre Vascular Inc (LMAT) growing?
The median revenue growth in the sector is +6.2 % a year. That is the yardstick for the growth priced into LeMaitre Vascular Inc (+9.7 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of LeMaitre Vascular Inc (LMAT)?
The free-cash-flow yield on the price is 3.75 %: that much free cash flow LeMaitre Vascular Inc produces per unit of market value. When it exceeds the discount rate of our models (8.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of LeMaitre Vascular Inc (LMAT)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For LeMaitre Vascular Inc it is $91.84 per share (as of Nov 6, 2026), against a price of $80.89. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is LeMaitre Vascular Inc stock overvalued or undervalued in 2026?
As of Nov 6, 2026, LMAT trades below its calculated fair value: price $80.89, fair value $91.84, a gap of about +14% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LMAT?
No. The price is what the market pays today ($80.89); the fair value is what the company's own numbers justify ($91.84). For LeMaitre Vascular Inc the two are $10.95 per share apart. That gap is exactly why we show both numbers side by side.
How much is LeMaitre Vascular Inc worth?
The market values LeMaitre Vascular Inc at about $2.0B (market capitalisation, as of Nov 6, 2026). Per share that is $80.89; our models calculate a fair value of $91.84 per share.
What do the bullish and bearish scenarios say about LMAT?
Our models span a range for LeMaitre Vascular Inc: cautious scenario $62.84, base $91.84, optimistic $119.38 per share (as of Nov 6, 2026, price $80.89). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LMAT?
LeMaitre Vascular Inc trades at a price-to-earnings ratio of 26.0 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $91.84 is built from several models across several years. Other multiples: PEG 2.1, P/B 5.0, P/S 7.6, EV/EBITDA 25.6.
What is the PEG ratio of LMAT?
The PEG ratio of LeMaitre Vascular Inc is 2.13 (P/E divided by earnings growth, as of Nov 6, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of LeMaitre Vascular Inc (LMAT)?
Balance-sheet figures for LeMaitre Vascular Inc (as of Nov 6, 2026): return on equity 16.8%, debt of 0.43 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is LMAT from its 52-week high?
LeMaitre Vascular Inc trades at $80.89, about 31% below its 52-week high of $116.75 and 3% above the low of $78.76 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of $91.84 is for.
Which stocks are comparable to LeMaitre Vascular Inc?
From the same area (Healthcare) we also value Intuitive Surgical, Inc, EssilorLuxottica Société anonyme, Becton, Dickinson and Company, Medline Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is LeMaitre Vascular Inc stock attractive at the current price?
The data as of Nov 6, 2026: price $80.89, calculated fair value $91.84 (+14%), Quality Score 64/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of LMAT calculated?
We run LeMaitre Vascular Inc through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of $91.84 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. LeMaitre Vascular Inc currently trades 12% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of LeMaitre Vascular Inc (LMAT)?
The closing price on Nov 6, 2026 was $80.89. Our model-based fair value is $91.84, about +14% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with LeMaitre Vascular Inc right now?
A fairly wide model range ($62.84 to $119.38) leaves room in how you read the outcome. The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Where does the earnings growth of LeMaitre Vascular Inc (LMAT) come from?
Earnings per share at LeMaitre Vascular Inc grew +18.9 % a year from 2014 to 2025. Broken into its drivers: revenue per share +9.3 %, EBIT margin +5.7 %, tax rate +1.8 %, residual (interest, one-offs) +1.1 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of LeMaitre Vascular Inc
How large is the market capitalisation of LeMaitre Vascular Inc (LMAT)?
The market capitalisation of LeMaitre Vascular Inc is $2.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of LeMaitre Vascular Inc (LMAT)?
The price-to-sales ratio of LeMaitre Vascular Inc is 7.56 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of LeMaitre Vascular Inc (LMAT)?
Earnings per share at LeMaitre Vascular Inc are $3.11 (price ÷ EPS = P/E 26.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of LeMaitre Vascular Inc (LMAT)?
The dividend yield of LeMaitre Vascular Inc is 1.1% (payout 28.9%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of LeMaitre Vascular Inc (LMAT)?
The net margin of LeMaitre Vascular Inc is 25.0% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of LeMaitre Vascular Inc (LMAT)?
The return on equity (ROE) of LeMaitre Vascular Inc is 16.8% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of LeMaitre Vascular Inc (LMAT)?
On an EBIT basis the return on assets of LeMaitre Vascular Inc is 10.4% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of LeMaitre Vascular Inc (LMAT)?
The operating margin of LeMaitre Vascular Inc is 29.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at LeMaitre Vascular Inc (LMAT)?
Revenue at LeMaitre Vascular Inc is growing +9.6% versus a year earlier (3y avg +15.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at LeMaitre Vascular Inc (LMAT)?
Earnings per share at LeMaitre Vascular Inc are growing +22.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does LeMaitre Vascular Inc (LMAT) carry?
The net debt of LeMaitre Vascular Inc is $157M (fiscal year 2025, ≈ 2.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Broad data
Nov 6, 2026