Viemed Healthcare Inc VMD

Health CareHealthcare Providers & ServicesUnited States of America

Last close 9.67 USD on Nov 1, 2026, +30.1% year to date

Quant rating

Quant rating B Rank 108 of 565 in Health Care

Growth A 62 of 565
Valuation A 22 of 565
Quality B 140 of 565
Revisions C 372 of 565
Momentum C 248 of 565

Wall Street consensus Buy (2.00)Average target 12.50 USD +29.3%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 368M
Enterprise value: 367M
52-week range: 6.05 – 12.61
3-year range: 5.93 – 12.61
Dividend yield: –
Beta (5 years): 1.06
Shares outstanding: 38.1M
Next earnings: Nov 6, 2026

About the company

Viemed Healthcare, Inc. is an in-home clinical care provider of post-acute respiratory healthcare equipment and services in the United States, including non-invasive ventilators (NIV), sleep therapy, staffing, and other complementary products and services. The Company focuses on in-home treatment with clinical practitioners providing therapy, education and counseling to patients in their homes using high-touch and high-tech services. The Company’s products and services include Home Medical Equipment, In-home sleep testing, and Healthcare staffing. Home Medical Equipment provides respiratory and other home medical equipment solutions, including home ventilation, bi-level positive airway pressure (BiPAP) and continuous positive airway pressure (CPAP) devices, percussion vests, oxygen concentrators, breast pumps for women, respiratory devices and other medical equipment. It offers in-home sleep apnea testing services. The Company also provides healthcare staffing and recruitment services.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	270	224	183	139	117	–
Revenue growth	20.5%	22.5%	31.8%	18.6%	−10.8%	15.5%
EPS (basic, normalized)	0.37	0.28	0.25	0.16	–	–
EPS growth	32.1%	12.0%	56.2%	–	–	–
Gross margin	57.5%	59.4%	61.6%	61.0%	62.7%	60.4%
Net margin	5.5%	5.0%	5.6%	4.5%	7.8%	5.7%
ROE	10.9%	9.2%	9.7%	6.5%	10.3%	9.3%

Balance sheet, last quarter
Cash & short-term investments (mil)	10.7
Current ratio	1.13x
Long-term debt (mil)	6.4
Net debt (mil)	−1.7
Total equity (mil)	144
Net debt / equity	−0.01x
Net debt / EBITDA	−0.03x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	270	+20.5%	1.4x	61.4	+19.5%	6.0x	0.37	+32.1%	26.1x
2026	318	+17.6%	1.2x	65.0	+5.9%	5.6x	0.41	+11.7%	23.4x
2027	354	+11.2%	1.0x	74.4	+14.4%	4.9x	0.54	+31.5%	17.8x
2028	400	+13.1%	0.9x	85.3	+14.7%	4.3x	0.69	+27.0%	14.0x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	318	0.0%	+0.2%	+0.8%	0.41	0.0%	−9.2%	−13.9%
2027	354	0.0%	−1.9%	−2.5%	0.54	0.0%	−10.9%	−12.4%
2028	400	0.0%	−4.1%	−3.9%	0.69	0.0%	−18.8%	−18.8%

Earnings surprises EPS beat in 1 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	50.6	55.0	58.0	60.7	59.1	63.1	71.9	76.2	75.4	78.1
Sales mean (mil)	50.0	53.8	57.1	60.0	60.6	63.1	72.0	77.7	74.4	78.1
Surprise	+1.2%	+2.2%	+1.5%	+1.2%	−2.4%	−0.1%	−0.1%	−2.0%	+1.4%	0.0%
EPS reported	0.04	0.04	0.10	0.10	0.06	0.08	0.09	0.14	0.06	0.07
EPS mean	0.07	0.07	0.07	0.10	0.06	0.08	0.09	0.12	0.09	0.12
Surprise	−42.9%	−42.9%	+33.3%	−4.8%	0.0%	0.0%	0.0%	+12.0%	−33.3%	−41.7%

Peer comparison Healthcare Providers & Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
VMD Viemed Healthcare Inc	368M	−0.03x	5.5%	2.56x	23.4x	17.8x	5.6x	4.9x
ARC ARCpoint Inc.	0M	–	24.7%	–	–	–	–	–
Mean		−0.03x	15.1%	2.56x	23.4x	17.8x	5.6x	4.9x
Median		−0.03x	15.1%	2.56x	23.4x	17.8x	5.6x	4.9x

Technical analysis

1M+6.1%
3M−18.9%
1Y+41.0%
3Y+60.1%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Viemed Healthcare Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	270	224	183	139	117	131
Cost of revenue	115	91.1	70.2	54.2	43.7	51.2
Gross profit	155	133	113	84.7	73.4	80.1
Selling, general & administrative expenses	130	112	93.7	73.4	60.0	57.7
Research & development	3.0	3.1	2.8	2.7	2.1	1.1
Depreciation/amortization	1.5	1.5	1.4	1.0	0.9	0.8
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	−2.2	−1.9	0.6	0.3	0.4	−2.3
Other operating expenses	−0.3	0.2	−0.1	−1.0	−1.6	−4.0
Operating income	22.9	17.9	14.3	8.3	11.6	26.8
Net interest income (expense)	−1.2	−1.7	0.1	0.7	0.9	−0.4
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	21.8	16.2	14.4	9.0	12.5	26.4
Provision for taxes	6.4	4.8	4.1	2.8	3.4	−5.2
Minority interest	−0.4	−0.1	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	14.9	11.3	10.2	6.2	9.1	31.5
Extraordinary items	–	–	–	–	–	–
Net income	14.9	11.3	10.2	6.2	9.1	31.5
EBIT, normalized	20.7	16.0	15.0	8.6	12.0	24.5
EBITDA, normalized	49.3	41.4	36.9	24.2	23.3	34.0
Basic EPS, normalized	0.37	0.28	0.25	0.16	–	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Viemed Healthcare Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	13.5	17.5	12.8	16.9	28.4	31.0
Receivables	25.8	24.9	18.5	15.4	14.7	12.4
Total inventory	5.0	4.3	4.6	3.6	2.5	2.3
Prepaid expenses	4.1	6.1	2.4	3.8	1.7	1.5
Other current assets	0	0	0	0	0	0
Total current assets	48.5	52.9	38.4	39.7	47.3	47.2
Property, plant & equipment	82.4	79.2	76.9	68.4	62.8	55.1
Goodwill	58.9	33.0	29.8	–	–	–
Intangibles	1.3	0.8	0.6	–	–	–
Long-term investments	2.8	2.8	3.9	4.2	2.2	0.7
Note receivable	–	–	–	–	–	–
Other long-term assets	5.3	8.4	5.4	4.7	5.6	9.6
Total assets	199	177	155	117	118	113
Liabilities
Accounts payable	12.3	9.3	7.4	4.9	5.2	3.3
Payable/accrued	–	–	–	–	–	–
Accrued expenses	18.4	17.0	15.0	8.8	6.9	11.3
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	1.1	0.5	1.3	0.5	1.9	4.6
Other current liabilities	9.3	10.6	8.4	4.6	3.8	3.7
Total current liabilities	41.1	37.3	32.1	18.9	17.8	23.0
Long-term debt	11.3	3.6	6.1	0.2	4.6	6.6
Minority interest	2.0	1.9	–	–	–	–
Other liabilities	3.3	2.9	2.7	0.9	0.8	1.3
Total liabilities	57.6	45.7	41.0	19.9	23.1	30.9
Shareholders' equity
Preferred stock	–	–	–	–	–	–
Common stock	16.9	23.4	18.7	15.1	14.0	9.2
Additional paid-in capital	21.7	18.3	15.7	12.1	7.7	7.3
Retained earnings (accumulated deficit)	103	89.7	79.5	69.8	73.3	65.6
Treasury stock	–	–	–	–	–	–
Other equity	0	0	0	0	−0.3	−0.5
Total equity	142	131	114	97.1	94.8	81.7
Total liabilities & shareholders' equity	199	177	155	117	118	113

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Viemed Healthcare Inc, fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	15.4	11.4	10.2	6.2	9.1	31.5
Depreciation, depletion & amortization	28.6	25.4	21.9	15.6	11.3	9.6
Deferred taxes	3.1	−3.8	−1.4	1.7	3.9	−8.7
Non-cash items	7.1	5.8	6.8	14.3	11.7	12.9
Changes in working capital	−2.3	0.4	7.8	−10.1	−13.6	−10.2
Cash from operations	51.9	39.1	45.2	27.7	22.5	35.1
Investing activities
Capital expenditures	−40.0	−37.8	−26.1	−22.9	−19.7	−13.0
Other investing cash flows	−10.2	7.1	−26.0	−1.1	0	4.6
Cash from investing	−50.2	−30.7	−52.1	−24.0	−19.7	−8.4
Financing activities
Financing cash flow items	−0.5	−0.2	–	–	–	–
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−5.3	−3.5	2.8	−15.3	−5.3	−9.1
Cash from financing	−5.8	−3.7	2.8	−15.3	−5.3	−9.1
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−4.0	4.7	−4.1	−11.5	−2.6	17.6
Free cash flow	11.9	1.3	19.1	4.9	2.8	22.1

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.