A Business at a Glance
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Company Overview Viemed Healthcare, Inc. (the "Company" or "Viemed"), through its subsidiaries, is a provider of home medical equipment ("HME") and post-acute respiratory healthcare services in the United States. The Company’s primary service offerings are focused on effective in-home treatment with clinical practitioners providing therapy and counseling to patients in their homes using cutting edge technology. Viemed’s primary objective is to focus on the organic growth of the business and thereby solidify its position as one of the United States' largest providers of in-home therapy for patients suffering from respiratory diseases. Viemed's respiratory care programs are designed specifically for payors to have the ability to treat patients in the home for less total cost and with a superior quality of care.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 255M | 224M | 183M | 139M | 117M | 131M |
| Net Income | 14M | 11M | 10M | 6.2M | 9.1M | 32M |
| EPS | $0.34 | $0.28 | $0.25 | $0.16 | $0.22 | $0.78 |
| Free Cash Flow | 5.4M | 1.3M | 19M | 4.9M | 2.8M | 22M |
| ROIC | 10.1% | 11.1% | 9.4% | 7.1% | 11.7% | 54.9% |
| Gross Margin | 57.9% | 59.4% | 61.6% | 61.0% | 62.7% | 61.0% |
| Debt/Equity | 0.16 | 0.03 | 0.06 | 0.00 | 0.06 | 0.09 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 21M | 18M | 14M | 8.3M | 12M | 27M |
| Operating Margin | 8.3% | 8.0% | 7.8% | 5.9% | 9.9% | 20.4% |
| ROE | 10.2% | 9.2% | 9.0% | 6.4% | 9.6% | 38.6% |
| Shares Outstanding | 38M | 40M | 41M | 39M | 41M | 40M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 64M | 80M | 131M | 117M | 139M | 183M | 224M | 255M |
| Gross Margin | 74.1% | 69.8% | 61.0% | 62.7% | 61.0% | 61.6% | 59.4% | 57.9% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 10M | 8.9M | 27M | 12M | 8.3M | 14M | 18M | 21M |
| Op. Margin | 15.6% | 11.0% | 20.4% | 9.9% | 5.9% | 7.8% | 8.0% | 8.3% |
| Net Income | 9.5M | 8.5M | 32M | 9.1M | 6.2M | 10M | 11M | 14M |
| Net Margin | 14.7% | 10.6% | 24.0% | 7.8% | 4.5% | 5.6% | 5.0% | 5.3% |
| Non-Recurring | -54K | -360K | 2.3M | -448K | -346K | -645K | 1.9M | 1.9M |
| Returns on Capital | ||||||||
| ROIC | 44.6% | 21.6% | 54.9% | 11.7% | 7.1% | 9.4% | 11.1% | 10.1% |
| ROE | 29.2% | 19.5% | 38.6% | 9.6% | 6.4% | 9.0% | 9.2% | 10.2% |
| ROA | 17.7% | 10.3% | 28.0% | 7.7% | 5.3% | 6.6% | 6.8% | 6.7% |
| Cash Flow | ||||||||
| Op. Cash Flow | 22M | 19M | 35M | 22M | 28M | 45M | 39M | 48M |
| Free Cash Flow | 16M | 5.7M | 22M | 2.8M | 4.9M | 19M | 1.3M | 5.4M |
| Owner Earnings | 16M | 8.8M | 21M | 6.0M | 6.9M | 18M | 7.4M | 17M |
| CapEx | 6.1M | 13M | 13M | 20M | 23M | 26M | 38M | 43M |
| Maint. CapEx | 3.8M | 6.4M | 9.6M | 11M | 16M | 22M | 25M | 25M |
| Growth CapEx | 2.3M | 7.0M | 3.5M | 8.4M | 7.3M | 4.2M | 12M | 18M |
| D&A | 3.8M | 6.4M | 9.6M | 11M | 16M | 22M | 25M | 25M |
| CapEx/OCF | N/A | 70.1% | 37.2% | 87.8% | 82.5% | 57.7% | 96.6% | 88.9% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 1.6M | 1.5M | 0 | 0 | 9.6M | 0 | 0 | 0 |
| Buyback Yield | N/A | 0.6% | N/A | N/A | 3.3% | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.7M | 3.9M | 4.9M | 5.2M | 5.2M | 5.8M | 6.3M | 6.3M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 192K | 192K |
| Balance Sheet | ||||||||
| Net Debt | -10M | -4.0M | -23M | -23M | -17M | -5.8M | -14M | 10M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 11M |
| Long-Term Debt | 0 | 7.6M | 5.8M | 4.3M | 0 | 6.0M | 3.6M | 3.6M |
| Debt/Equity | 0.00 | 0.21 | 0.09 | 0.06 | 0.00 | 0.06 | 0.03 | 0.16 |
| Interest Coverage | 55.6 | 28.2 | 52.6 | 36.4 | 41.9 | 33.8 | 23.1 | 23.1 |
| Equity | 33M | 44M | 82M | 95M | 97M | 114M | 131M | 134M |
| Total Assets | 54M | 83M | 113M | 118M | 117M | 155M | 177M | 202M |
| Total Liabilities | 21M | 39M | 31M | 23M | 20M | 41M | 44M | 67M |
| Intangibles | N/A | N/A | N/A | N/A | 0 | 30M | 34M | 34M |
| Retained Earnings | 27M | 34M | 66M | 73M | 70M | 79M | 90M | 90M |
| Working Capital | 3.5M | 1.9M | 24M | 29M | 21M | 6.2M | 16M | 16M |
| Current Assets | 23M | 28M | 47M | 47M | 40M | 38M | 53M | 53M |
| Current Liabilities | 20M | 26M | 23M | 18M | 19M | 32M | 37M | 37M |
| Per Share Data | ||||||||
| EPS | 0.24 | 0.21 | 0.78 | 0.22 | 0.16 | 0.25 | 0.28 | 0.34 |
| Owner EPS | 0.40 | 0.22 | 0.51 | 0.15 | 0.18 | 0.43 | 0.18 | 0.44 |
| Book Value | 0.82 | 1.08 | 2.02 | 2.29 | 2.50 | 2.78 | 3.27 | 3.51 |
| Cash Flow/Share | 0.56 | 0.47 | 0.87 | 0.54 | 0.71 | 1.10 | 0.97 | 1.03 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 39.6M | 40.6M | 40.4M | 41.5M | 38.9M | 41.0M | 40.2M | 38.0M |
| Valuation | ||||||||
| P/E Ratio | N/A | 29.9 | 10.4 | 25.5 | 46.6 | 32.0 | 29.1 | 28.5 |
| P/FCF | N/A | 44.7 | 14.9 | 84.4 | 59.7 | 17.1 | 249.1 | 68.4 |
| EV/EBIT | N/A | 28.3 | 11.4 | 18.1 | 33.1 | 22.5 | 17.6 | 18.0 |
| Price/Book | N/A | 5.8 | 4.0 | 2.4 | 3.0 | 2.9 | 2.5 | 2.8 |
| Price/Sales | N/A | 3.5 | 2.4 | 2.7 | 1.6 | 1.9 | 1.4 | 1.4 |
| FCF Yield | N/A | 2.2% | 6.7% | 1.2% | 1.7% | 5.8% | 0.4% | 1.5% |
| Market Cap | N/A | 255M | 329M | 232M | 290M | 328M | 328M | 368M |
| Avg. Price | N/A | 6.85 | 7.92 | 7.55 | 5.79 | 8.56 | 7.98 | 9.69 |
| Year-End Price | N/A | 6.28 | 8.13 | 5.60 | 7.45 | 8.00 | 8.16 | 9.69 |
VIEMED HEALTHCARE, INC. passes 5 of 9 quality checks, suggesting mixed fundamentals.
VIEMED HEALTHCARE, INC. trades at 28.5x trailing earnings, compared to its 15-year median P/E of 29.5x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 68.4x vs a median of 44.7x. The company's 5-year average ROIC is 18.9% with a gross margin of 61.1%. At current prices, the estimated annualized return to fair value is -9.6%.
VIEMED HEALTHCARE, INC. (VMD) has a current P/E ratio of 28.5, compared to its historical median P/E of 29.5. The stock is currently considered Fair based on its historical valuation range.
VIEMED HEALTHCARE, INC. (VMD) has a 5-year average return on invested capital (ROIC) of 18.9%. This indicates strong capital allocation and a potential competitive advantage.
VIEMED HEALTHCARE, INC. (VMD) has a market capitalization of $368M. It is classified as a small-cap stock.
VIEMED HEALTHCARE, INC. (VMD) does not currently pay a regular dividend.
Based on historical P/E analysis, VIEMED HEALTHCARE, INC. (VMD) appears fair. The current P/E of 28.5 is 3% below its historical median of 29.5. The estimated fair value CAGR (P/E method) is -8.6%.
VIEMED HEALTHCARE, INC. (VMD) operates in the Services-Misc Health & Allied Services, Nec industry, within the Healthcare sector.
VIEMED HEALTHCARE, INC. (VMD) reported annual revenue of $224 million in its most recent fiscal year, based on SEC EDGAR filings.
VIEMED HEALTHCARE, INC. (VMD) has a net profit margin of 5.0%. This is a modest margin.
VIEMED HEALTHCARE, INC. (VMD) generated $1 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
VIEMED HEALTHCARE, INC. (VMD) has a debt-to-equity ratio of 0.03. This indicates a conservatively financed balance sheet.
VIEMED HEALTHCARE, INC. (VMD) reported earnings per share (EPS) of $0.28 in its most recent fiscal year.
VIEMED HEALTHCARE, INC. (VMD) has a return on equity (ROE) of 9.2%. This indicates moderate shareholder returns.
VIEMED HEALTHCARE, INC. (VMD) has a 5-year average gross margin of 61.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 7 years of financial data for VIEMED HEALTHCARE, INC. (VMD), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
VIEMED HEALTHCARE, INC. (VMD) has a book value per share of $3.27, based on its most recent annual SEC filing.