VMD · Viemed Healthcare, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $270.28M | $224.26M | $183.01M | $138.83M | $117.06M | $131.31M |
| Cost of Revenue | $114.82M | $91.05M | $70.22M | $54.15M | $43.65M | $51.20M |
| Gross Profit | $155.46M | $133.20M | $112.78M | $84.68M | $73.41M | $80.11M |
| R&D | $3.02M | $3.07M | $2.78M | $2.70M | $2.11M | $1.08M |
| SG&A | $121.37M | $106.20M | $87.88M | $68.16M | $54.89M | $52.83M |
| Total Operating Expenses | - | - | - | - | - | - |
| D&A | $28.61M | $25.37M | $15.63M | $15.63M | $11.31M | $9.58M |
| Operating Income | $22.95M | $17.90M | $14.33M | $8.25M | $11.58M | $26.78M |
| Interest Expense | - | - | - | - | - | - |
| Income Tax | $6.39M | $4.76M | $4.15M | $2.77M | $3.38M | ($5.17M) |
| Net Income | $14.93M | $11.27M | $10.24M | $6.22M | $9.13M | $31.53M |
| EPS - Basic | $0.38 | $0.29 | $0.27 | $0.16 | $0.23 | $0.81 |
| EPS - Diluted | $0.37 | $0.28 | $0.25 | $0.16 | $0.22 | $0.78 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $13.50M | $17.54M | $12.84M | $16.91M | $28.41M | $30.98M |
| Accounts Receivable | $25.59M | $24.91M | $18.45M | $15.38M | $12.82M | $12.37M |
| Inventory | $5.05M | $4.32M | $4.63M | $3.57M | $2.46M | $2.31M |
| Accounts Payable | $7.33M | $5.32M | $4.18M | $2.65M | $3.24M | $2.10M |
| Current Assets | $48.49M | $52.88M | $38.37M | $39.74M | $47.31M | $47.17M |
| Total Assets | $199.15M | $177.07M | $154.90M | $117.04M | $117.96M | $112.56M |
| Current Liabilities | $41.06M | $37.33M | $32.12M | $18.86M | $17.81M | $23.02M |
| Long-term Debt | $11.29M | $3.59M | $6.00M | $0 | $4.31M | $5.80M |
| Total Liabilities | $55.63M | $43.77M | $41.00M | $19.95M | $23.14M | $30.87M |
| Stockholders' Equity | $141.54M | $131.39M | $113.89M | $97.09M | $94.82M | $81.69M |
| Retained Earnings | $102.89M | $89.69M | $79.50M | $69.85M | $73.33M | $65.64M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $51.92M | $39.09M | $45.21M | $27.75M | $22.49M | $35.11M |
| Investing Cash Flow | ($50.17M) | ($30.70M) | ($52.11M) | ($23.98M) | ($19.75M) | ($8.41M) |
| Financing Cash Flow | ($5.79M) | ($3.69M) | $2.83M | ($15.27M) | ($5.32M) | ($9.07M) |
| CapEx | $39.98M | $37.77M | $26.09M | $22.90M | $19.74M | $13.04M |
| Free Cash Flow | $11.93M | $1.32M | $19.12M | $4.85M | $2.75M | $22.07M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 57.5% | 59.4% | 61.6% | 61.0% | 62.7% | 61.0% |
| Operating margin | 8.5% | 8.0% | 7.8% | 5.9% | 9.9% | 20.4% |
| EBITDA margin | 19.1% | 19.3% | 16.4% | 17.2% | 19.6% | 27.7% |
| Net margin | 5.5% | 5.0% | 5.6% | 4.5% | 7.8% | 24.0% |
| Free cash flow margin | 4.4% | 0.6% | 10.4% | 3.5% | 2.4% | 16.8% |
| FCF / Net income | 0.80 | 0.12 | 1.87 | 0.78 | 0.30 | 0.70 |
| R&D / Revenue | 1.1% | 1.4% | 1.5% | 1.9% | 1.8% | 0.8% |
| SG&A / Revenue | 44.9% | 47.4% | 48.0% | 49.1% | 46.9% | 40.2% |
| Effective tax rate | 30.0% | 29.7% | 28.8% | 30.8% | 27.0% | -19.6% |
| Return on assets | 7.5% | 6.4% | 6.6% | 5.3% | 7.7% | 28.0% |
| Return on equity | 10.6% | 8.6% | 9.0% | 6.4% | 9.6% | 38.6% |
| Return on invested capital | 10.5% | 9.3% | 8.5% | 5.9% | 8.5% | 30.6% |
| Liquidity | ||||||
| Current ratio | 1.18 | 1.42 | 1.19 | 2.11 | 2.66 | 2.05 |
| Quick ratio | 1.06 | 1.30 | 1.05 | 1.92 | 2.52 | 1.95 |
| Cash ratio | 0.33 | 0.47 | 0.40 | 0.90 | 1.59 | 1.35 |
| Leverage | ||||||
| Debt / Equity | 0.08 | 0.03 | 0.05 | 0.00 | 0.05 | 0.07 |
| Debt / Assets | 0.06 | 0.02 | 0.04 | 0.00 | 0.04 | 0.05 |
| Debt / EBITDA | 0.22 | 0.08 | 0.20 | 0.00 | 0.19 | 0.16 |
| Interest coverage | - | - | - | - | - | - |
| Equity multiplier | 1.41 | 1.35 | 1.36 | 1.21 | 1.24 | 1.38 |
| Liabilities / Assets | 0.28 | 0.25 | 0.26 | 0.17 | 0.20 | 0.27 |
| Efficiency | ||||||
| Asset turnover | 1.36 | 1.27 | 1.18 | 1.19 | 0.99 | 1.17 |
| Inventory turnover | 22.75 | 21.08 | 15.17 | 15.15 | 17.77 | 22.16 |
| Days sales outstanding | 35d | 41d | 37d | 40d | 40d | 34d |
| Days inventory outstanding | 16d | 17d | 24d | 24d | 21d | 16d |
| Days payable outstanding | 23d | 21d | 22d | 18d | 27d | 15d |
| Cash conversion cycle | 27d | 37d | 39d | 47d | 33d | 36d |
| Valuation | ||||||
| P / E | 20.1x | 28.6x | 31.4x | 47.3x | 23.7x | 9.9x |
| P / B | 2.1x | 2.5x | 2.8x | 3.1x | 2.2x | 3.8x |
| P / S | 1.1x | 1.5x | 1.7x | 2.2x | 1.8x | 2.4x |
| EV / EBITDA | 5.8x | 7.2x | 10.4x | 11.9x | 8.2x | 8.0x |
| Growth | ||||||
| Revenue growth (YoY) | 20.5% | 22.5% | 31.8% | 18.6% | -10.8% | 103.7% |
| Revenue CAGR (3y) | 24.9% | 24.2% | 11.7% | 29.1% | - | - |
| Revenue CAGR (5y) | 15.5% | 28.3% | - | - | - | - |
| Gross profit growth (YoY) | 16.7% | 18.1% | 33.2% | 15.4% | -8.4% | 43.0% |
| Operating income growth (YoY) | 28.2% | 24.9% | 73.7% | -28.7% | -56.8% | 206.2% |
| Net income growth (YoY) | 32.6% | 10.0% | 64.6% | -31.8% | -71.1% | 231.6% |
| EPS growth (YoY) | 32.1% | 12.0% | 56.3% | -27.3% | -71.8% | 225.0% |
| EPS CAGR (3y) | 32.2% | 8.4% | -31.6% | -12.6% | - | - |
| EPS CAGR (5y) | -13.9% | 3.1% | - | - | - | - |
| FCF growth (YoY) | 805.2% | -93.1% | 294.2% | 76.3% | -87.5% | 70.1% |
| FCF CAGR (5y) | -11.6% | -36.7% | - | - | - | - |
| Book value growth (YoY) | 7.7% | 15.4% | 17.3% | 2.4% | 16.1% | 86.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$75.14M totalEquipment Sales$50.25M · 66.9%
Service$24.89M · 33.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
3.25
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
6/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✓No share dilution
- ✗Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Misc Health & Allied Services, NEC
Comparing VIEMED HEALTHCARE against the 5 most active filers in the same SIC group.