Does LEMAITRE VASCULAR, INC. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores LEMAITRE VASCULAR, INC. (LMAT) 77.9 out of 100 — a Narrow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 95, pricing power 99, returns on capital 62, balance-sheet safety 55, capital allocation 78.

Is LMAT trading below the conservative owner-earnings estimate?

The value if growth stopped today — a zero-growth baseline — is $16.15 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $95.59, that is 492% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.

How has LMAT's Moat Score changed over time?

The record logs 16 readings since Jul 17, 2026; the latest reads 77.9 out of 100 (narrow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

LEMAITRE VASCULAR, INC.

LMAT · Healthcare · $2.2B mkt cap · FY2025 filings · Narrow moat ·

On the watchlist

Narrow moat

The five investor questions

2021–2025 (latest 5 aligned FYs; v3 window cap 5): revenue $154M to $250M, increasing; diluted EPS 1.25 to 2.52, increasing.

Median gross margin 68.4% over 10y, very stable.

Median ROIC 13.6%, above the 12% hurdle in 70% of years.

Net debt/EBITDA n/ax, interest coverage 13x.

Owner earnings changed +20.6%/yr over up to the ten most recent annual observations.

Price vs. value if growth stopped today

A cautious baseline, not a price target: what the shares may support if normalized owner earnings simply hold steady.

Above value if growth stopped todayBelow value if growth stopped today

492% above value if growth stopped today

: $33.1M
: $16.15
: $26.16
: $95.59
: 492% above value if growth stopped today

What today’s price assumes: owner earnings growing ~43%/yr over 5 years. The zero-growth estimate assumes owner earnings stay flat (0% growth).

How to read this

We solve for the constant annual change in owner earnings that would make the five-year zero-growth estimate equal today’s price. This keeps the existing model inputs and calculation unchanged; it is an expectations lens, not a forecast.

This zero-growth estimate assumes trailing owner earnings persist — unreliable for declining businesses. Flag status unavailable — four adjacent recent FY revenue observations are required.

Model details under moat-index@3.0.0: zero-growth multiple 11.1×, capped-growth comparison at no more than 18×; 9% discount rate; high-end growth 4% (capped at 4%) using min(5y revenue CAGR, 5y diluted-EPS CAGR), clamped to 0%–4%; maintenance capex uses min(capex, D&A); abstain when D&A is unavailable. This is a disclosed model range, not intrinsic value as fact.

Fundamentals

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Visual explainers

The filing-backed explainer service is temporarily unavailable, so no partial or guessed chart is shown.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale77.9 / 100

Breaks in the line mark methodology or normalizer upgrades — readings across versions aren’t compared, so a level shift there isn’t a change in the business.

Tier changesSame-methodology and same-normalizer crossings of the Wide / Narrow / Shallow bars

Normalizer upgraded unstamped (version unknown)tomoat-xbrl-normalizer@1.1.0 — readings across versions aren’t comparedJul 26, 2026
Methodology upgraded moat-index@2.0.0tomoat-index@3.0.0 — readings across versions aren’t comparedJul 23, 2026
Methodology upgraded moat-index@1.2.0tomoat-index@2.0.0 — readings across versions aren’t comparedJul 20, 2026

Scores are logged append-only and never overwritten — this record cannot be reconstructed retroactively, which is exactly why it’s worth keeping.

Insider activity

Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”

These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.

The insider-filing service is temporarily unavailable, so no partial or guessed answer is shown for LMAT.

Healthcare context

#31 of 728 scored Healthcare companies, ranked by Moat Score.

Nearest peers by Moat Score

#29DXCM DEXCOM, INC.78.1 out of 100, Narrow moatNarrow moat
#30GMED GLOBUS MEDICAL, INC.78.0 out of 100, Narrow moatNarrow moat
#32VMD Viemed Healthcare, Inc.77.7 out of 100, Narrow moatNarrow moat
#33TT TRANE TECHNOLOGIES PLC77.6 out of 100, Narrow moatNarrow moat

Compare LMAT with its nearest peers →All Healthcare companies on the Index →

Common questions about LMAT

Does LEMAITRE VASCULAR, INC. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores LEMAITRE VASCULAR, INC. (LMAT) 77.9 out of 100 — a Narrow moat. The five questions behind that score begin at 20% each; if exactly one genuinely lacks data, the other four weights are renormalized and disclosed. revenue and EPS trend 95, pricing power 99, returns on capital 62, balance-sheet safety 55, capital allocation 78.
Is LMAT trading below the conservative owner-earnings estimate?: The value if growth stopped today — a zero-growth baseline — is $16.15 per share. It capitalizes normalized owner earnings at a 9% rate and assumes 0% growth. Versus a recent price of $95.59, that is 492% above value if growth stopped today. The model also publishes a capped-growth comparison, but the zero-growth estimate is the cautious baseline. It assumes trailing owner earnings persist and is unreliable for declining businesses. This is an educational estimate from primary SEC filings, not intrinsic value as a fact or investment advice.
How has LMAT's Moat Score changed over time?: The record logs 16 readings since Jul 17, 2026; the latest reads 77.9 out of 100 (narrow moat). No tier changes on record yet. (Methodology or normalizer upgrades on Jul 20, 2026, Jul 23, 2026, Jul 26, 2026 re-based the score; readings across versions aren't compared.) The history is append-only — readings are only ever added, never rewritten.

Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell LMAT. See the disclaimer.