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Viemed Healthcare US (VMD)
:VMD
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Viemed Healthcare
(NASDAQ:VMD)
72Outperform
Viemed Healthcare (VMD) vs. S&P 500 (SPY)
Market Cap
$303.71M
Dividend YieldN/A
Average Volume (3M)90.71K
Price to Earnings (P/E)28.4
Beta (1Y)0.86
Revenue Growth22.54%
EPS Growth8.55%
CountryUS
Employees996
SectorHealthcare
Sector Strength78
IndustryMedical Equipment & Supplies
Share Statistics
EPS (TTM)0.27
Shares Outstanding38,936,560
10 Day Avg. Volume111,437
30 Day Avg. Volume90,709
Financial Highlights & Ratios
PEG Ratio3.32
Price to Book (P/B)N/A
Price to Sales (P/S)1.34
Price to Cash Flow (P/CF)7.60
P/FCF Ratio0.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$15.00Price Target Upside92.31% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Viemed Healthcare Business Overview & Revenue Model
Company DescriptionViemed Healthcare, Inc. engages in the provision of home healthcare solutions. Through its subsidiaries, it supplies home medical equipment that provides post-acute respiratory services. It also offers respiratory disease management and in-home sleep testing and sleep apnea treatment. The company was founded by Casey Hoyt, Max Hoyt, and Michael Moore on December 14, 2016 and is headquartered in Lafayette, LA.
How the Company Makes MoneyViemed Healthcare generates revenue by providing respiratory care services and selling or renting durable medical equipment to patients, healthcare providers, and institutions. The company's primary revenue streams include the rental and sale of non-invasive ventilators and other respiratory therapy equipment. Additionally, Viemed earns income from providing ongoing patient care and monitoring services, which are typically reimbursed by Medicare, Medicaid, and private insurance companies. This reimbursement model is crucial to Viemed's revenue, as it ensures a steady cash flow from insurance providers for the equipment and services rendered to patients. Viemed also pursues strategic partnerships with healthcare providers and institutions to expand its service offerings and enhance its market presence.
Viemed Healthcare Financial Statement Overview
Summary
Viemed Healthcare shows strong growth in revenue and gross profit margins, effective cost management, and operational efficiency. However, declining net profit margins and volatile free cash flow suggest rising costs and capital expenditure pressures.Income Statement
Viemed Healthcare shows a strong financial performance with consistent revenue growth, increasing from approximately $80.3 million in 2019 to $224.3 million in 2024. The gross profit margin is robust, indicating effective cost management, with a margin of 59.4% in 2024. The company also improved its EBIT and EBITDA margins, reflecting operational efficiency. However, net profit margin has declined from 24% in 2020 to 5% in 2024, suggesting rising costs or other financial pressures affecting net income.82
Very Positive
Balance Sheet
The balance sheet indicates a solid financial position with an improving equity base, growing from $43.7 million in 2019 to $131.4 million in 2024. The debt-to-equity ratio is very low at 0.05 in 2024, highlighting prudent financial management. However, the equity ratio has decreased from 72.6% in 2020 to 105.8% in 2024, which suggests a more aggressive leveraging strategy. Despite this, the company remains well-capitalized.78
Positive
Cash Flow
Viemed's cash flow statements show strong operating cash flows, with a slight decline from $45.2 million in 2023 to $39.1 million in 2024. The free cash flow, however, has been volatile, dropping significantly from $19.1 million in 2023 to $1.3 million in 2024, likely due to increased capital expenditures. The ratio of operating cash flow to net income remains healthy, supporting the company's ability to generate cash from operations.74
Positive
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 215.70M | 224.26M | 183.01M | 138.83M | 117.06M | 131.31M | Gross Profit |
| 129.24M | 133.20M | 112.78M | 84.68M | 73.41M | 80.11M | EBIT |
| 16.90M | 17.90M | 14.33M | 8.25M | 11.58M | 26.78M | EBITDA |
| 42.61M | 16.73M | 36.71M | 24.03M | 21.84M | 30.54M | Net Income Common Stockholders |
| 10.43M | 11.27M | 10.24M | 6.22M | 9.13M | 31.53M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 12.77M | 17.54M | 12.84M | 16.91M | 28.41M | 30.98M | Total Assets |
| 154.10M | 124.19M | 154.90M | 117.04M | 117.96M | 112.56M | Total Debt |
| 10.27M | 6.87M | 10.32M | 694.00K | 6.52M | 11.13M | Net Debt |
| -2.50M | -10.67M | -2.52M | -16.22M | -21.89M | -19.85M | Total Liabilities |
| 40.79M | 6.44M | 41.00M | 19.95M | 23.14M | 30.87M | Stockholders Equity |
| 113.31M | 131.39M | 113.89M | 97.09M | 94.82M | 81.69M |
| Cash Flow | Free Cash Flow | ||||
| 3.88M | 1.32M | 19.12M | 4.85M | 2.75M | 22.07M | Operating Cash Flow |
| 38.25M | 39.09M | 45.21M | 27.75M | 22.49M | 35.11M | Investing Cash Flow |
| -29.90M | -30.70M | -52.11M | -23.98M | -19.75M | -8.41M | Financing Cash Flow |
| -7.12M | -3.69M | 2.83M | -15.27M | -5.32M | -9.07M |
Viemed Healthcare Technical Analysis
Neutral
7.80
Price Trends
8.00
Negative
8.39
Negative
7.80
Negative
Market Momentum
-0.14
Positive
49.49
Neutral
37.37
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VMD, the sentiment is Neutral. The current price of 7.8 is above the 20-day moving average (MA) of 7.76, below the 50-day MA of 8.00, and below the 200-day MA of 7.80, indicating a neutral trend. The MACD of -0.14 indicates Positive momentum. The RSI at 49.49 is Neutral, neither overbought nor oversold. The STOCH value of 37.37 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for VMD.
Viemed Healthcare Risk Analysis
Viemed Healthcare disclosed 38 risk factors in its most recent earnings report. Viemed Healthcare reported the most risks in the “Finance & Corporate” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Viemed Healthcare Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $2.89B | 209.44 | 2.40% | ― | 4.74% | -39.28% | |
72 Outperform | $303.71M | 28.39 | 9.19% | ― | 22.54% | 8.55% | |
72 Outperform | $9.98B | 22.26 | 24.52% | 0.64% | 11.91% | 28.47% | |
70 Outperform | $8.76B | 30.01 | 27.12% | 0.32% | 7.37% | 11.17% | |
68 Neutral | $1.36B | 16.73 | 5.45% | ― | 1.90% | ― | |
66 Neutral | $3.02B | 70.68 | 3.93% | ― | 5.01% | ― | |
49 Neutral | $6.90B | -0.08 | -53.01% | 2.43% | 24.84% | -3.06% |
* Healthcare Sector Average
Performance Comparison
VMD
Viemed Healthcare
7.80
-1.68
-17.72%
AMED
Amedisys
92.09
-1.16
-1.24%
CHE
Chemed
598.50
-45.92
-7.13%
EHC
Encompass Health
96.99
21.42
28.34%
AHCO
AdaptHealth
10.12
-0.24
-2.32%
PRVA
Privia Health Group
23.96
3.24
15.64%
Viemed Healthcare Earnings Call Summary
Earnings Call Date: Mar 10, 2025 | % Change Since: 5.41% | Next Earnings Date: May 12, 2025
Earnings Call Sentiment Positive
Viemed Healthcare demonstrated strong revenue growth and performance in its core businesses, particularly in the vent and sleep segments. However, declining EBITDA margins and increased capital expenditures posed challenges. The company's robust cash position and positive outlook for 2025 contribute to a generally positive sentiment.Highlights
Record Revenue Growth
Viemed Healthcare reported a 20% year-over-year increase in revenue for Q4 2024 and a 23% increase for the full year of 2024, setting records for both the quarter and the year.
Strong Vent Business Performance
The vent business accounted for 55% of Q4 revenue and 56% for the year, with a 4.4% sequential increase in Q4 and a total of 1,500 net vent adds in 2024, nearly 50% more than in 2023.
Significant Growth in Sleep Business
The sleep business saw a nearly 10% sequential increase in patients, leading to a 43% increase in 2024 compared to 2023, contributing 17% to Q4 revenues.
Positive EBITDA Growth
Adjusted EBITDA grew 11% for the quarter to $14.2 million and 19% for the full year, driven by strong organic growth and contributions from each of the company's business segments.
Strong Cash Position
Viemed reported a free cash flow of $11.6 million in 2024, with a strong balance sheet featuring $55 million available on credit facilities and $17.5 million in cash on hand.
Lowlights
Decreasing EBITDA Margins
Adjusted EBITDA margins declined year over year and sequentially, primarily due to shifts in product and service mix.
High CapEx Due to Ventilator Purchases
Gross CapEx was $13.6 million for Q4 and $37.8 million for the year, driven by the growth in vent patients and ventilator exchange programs, impacting free cash flow.
Lower Free Cash Flow Percentage
Free cash flow as a percentage of revenue decreased to 5.2% in 2024 compared to 11.9% in 2023, despite revenue growth.
Company Guidance
During Viemed Healthcare, Inc.'s Year End 2024 Earnings Call, the company highlighted several key metrics and provided guidance for 2025. They reported a record revenue increase of 20% year over year for Q4 and 23% for the full year 2024. The vent business accounted for 55% and the sleep business 17% of Q4 revenue. Gross margin for the quarter stood at 59.5%, while adjusted EBITDA grew by 11% to $14.2 million for the quarter. For 2025, Viemed projects net revenue between $254 million and $265 million, indicating a 16% growth at the midpoint, and adjusted EBITDA ranging from $54 million to $58 million, representing a 10% growth. The company's strategic focus includes expanding their sales force, exploring M&A opportunities, and leveraging their staffing division's growth in behavioral health. The CapEx for the first half of 2025 is expected to mirror the latter half of 2024, influenced by the ventilator fleet upgrades.Viemed Healthcare Corporate Events
Business Operations and Strategy
Viemed Healthcare Expands Amid Rising Healthcare Needs
Positive
Nov 12, 2024
Viemed Healthcare, a leading player in the US home respiratory care industry, is capturing the market with its non-invasive ventilation services, boasting a 25% annual growth rate since 2017. The company, listed on NASDAQ, serves over 127,000 patients and is strategically positioned to benefit from demographic shifts and increased demand for cost-effective home healthcare solutions. Investors should note the company’s robust growth trajectory and its focus on expanding services amidst rising healthcare needs and technological advancements.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.