Viemed Healthcare US (VMD)
NASDAQ:VMD
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Viemed Healthcare
(NASDAQ:VMD)
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Rating:72Outperform
Price Target:
$10.50
▲(52.62% Upside)
Action:Reiterated
Date:05/19/26
The score is driven primarily by solid underlying financial strength (high margins and low leverage) and a positive earnings update (raised revenue guidance, reaffirmed EBITDA, improving free cash flow). This is tempered by a relatively high P/E valuation and only mixed technical momentum (slightly negative MACD despite being above key moving averages).
Positive Factors
High gross & EBITDA margins
Sustained gross margins around 57–62% and recurring adjusted EBITDA near 18–21% reflect durable unit economics from rental and service models. This margin base supports reinvestment in clinical programs, absorbs reimbursement variability, and underpins long‑term cash generation.
Negative Factors
Policy/regulatory patient access risk
The NCD compliance framework raises structural access risk: temporary noncompliance (illness, caregiver changes) can remove coverage and depress ventilator census. This regulatory sensitivity can materially affect recurring rental volumes and long‑term revenue stability in ventilator services.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross & EBITDA margins
Sustained gross margins around 57–62% and recurring adjusted EBITDA near 18–21% reflect durable unit economics from rental and service models. This margin base supports reinvestment in clinical programs, absorbs reimbursement variability, and underpins long‑term cash generation.
Read all positive factors
Viemed Healthcare (VMD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$369.57M
Dividend YieldN/A
Average Volume (3M)276.41K
Price to Earnings (P/E)34.3
Beta (1Y)0.63
Revenue Growth23.10%
EPS Growth22.75%
CountryUS
Employees1,222
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)0.39
Shares Outstanding38,336,803
10 Day Avg. Volume332,540
30 Day Avg. Volume276,412
Financial Highlights & Ratios
PEG Ratio0.62
Price to Book (P/B)2.04
Price to Sales (P/S)1.07
P/FCF Ratio24.22
Enterprise Value/Market Cap1.00
Enterprise Value/Revenue1.29
Enterprise Value/Gross Profit2.26
Enterprise Value/Ebitda6.94
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.47
Revenue Forecast (FY)$315.80M
Viemed Healthcare Business Overview & Revenue Model
Company Description
Viemed Healthcare, Inc., through its subsidiaries, provides in-home durable medical equipment (DME) and post-acute respiratory healthcare services to patients in the United States. It provides respiratory disease management solutions, including tr...
How the Company Makes Money
Viemed primarily makes money by delivering respiratory-related home therapy services and renting/providing the associated durable medical equipment (DME) to patients, then billing third-party payors. The company’s revenue model is largely recurrin...
Viemed Healthcare Earnings Call Summary
Earnings Call Date:May 05, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 12, 2026
Earnings Call Sentiment Positive
The call presented strong operational and financial progress: revenue growth of 28% YoY, substantial free cash flow improvement, meaningful scaling in sleep (PAP up 57% YoY) and maternal health expansion, improved capital efficiency and a stronger, more diversified revenue mix. Near-term headwinds are largely related to NCD-driven compliance effects in ventilation (higher turnover and temporary pressure on net census), some seasonality, and comparability issues from a prior-year gain. Management reiterated positive guidance, tightened revenue guidance upward, and highlighted continued margin and cash-flow improvement, indicating confidence in execution.Positive Updates
Revenue Growth
Q1 revenue of $75.4 million, up 28% year-over-year and essentially flat sequentially vs Q4 2025 ($76.2M), consistent with expected seasonality.
Negative Updates
Ventilator Net Patient Census Pressure
Net ventilator patient census ended the quarter at 12,089 and is experiencing higher turnover under the new NCD compliance evaluation points, creating near-term downward pressure on net census despite demand remaining intact.
Read all updates
Q1-2026 Updates
Positive
Negative
Revenue Growth
Q1 revenue of $75.4 million, up 28% year-over-year and essentially flat sequentially vs Q4 2025 ($76.2M), consistent with expected seasonality.
Read all positive updates
Company Guidance
Management updated full‑year guidance to net revenue of $312–$320 million (raised the low end from $310M), reaffirmed adjusted EBITDA of $65–$69 million (implying a full‑year adjusted EBITDA margin of roughly 21%–22%), and narrowed net CapEx to 9.0%–10.5% of net revenue (from 10%–11.5%), while forecasting sequential revenue growth of about 3%–5% per quarter through the remainder of 2026. Those targets are anchored by Q1 results of $75.4 million revenue (up 28% YoY), Q1 adjusted EBITDA of $14.3 million (19% margin), Q1 free cash flow of $2.6 million (vs. -$5.7M prior, an $8.3M improvement), trailing‑12‑month FCF of $36.3M, Q1 net CapEx ≈7.3% of revenue, cash of $9.8M with $46M available on the credit facility, 150,000 shares repurchased for $1.4M, and long‑term debt reduced to $8.3M.Viemed Healthcare Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 286.56M | 270.28M | 224.26M | 183.01M | 138.83M | 117.06M |
| Gross Profit | 164.26M | 155.46M | 133.20M | 112.78M | 84.68M | 73.41M |
| EBITDA | 53.45M | 51.56M | 42.31M | 36.68M | 24.82M | 24.13M |
| Net Income | 14.89M | 14.93M | 11.27M | 10.24M | 6.22M | 9.13M |
Balance Sheet | ||||||
| Total Assets | 197.36M | 214.94M | 177.07M | 154.90M | 117.04M | 117.96M |
| Cash, Cash Equivalents and Short-Term Investments | 9.76M | 13.50M | 17.54M | 12.84M | 16.91M | 28.41M |
| Total Debt | 12.44M | 15.95M | 6.87M | 10.32M | 694.00K | 6.52M |
| Total Liabilities | 51.56M | 71.42M | 43.77M | 41.00M | 19.95M | 23.14M |
| Stockholders Equity | 143.86M | 141.54M | 131.39M | 113.89M | 97.09M | 94.82M |
Cash Flow | ||||||
| Free Cash Flow | 25.92M | 11.93M | 1.32M | 19.12M | 4.85M | 2.75M |
| Operating Cash Flow | 57.13M | 51.92M | 39.09M | 45.21M | 27.75M | 22.49M |
| Investing Cash Flow | -47.12M | -50.17M | -30.70M | -52.11M | -23.98M | -19.75M |
| Financing Cash Flow | -10.41M | -5.79M | -3.69M | 2.83M | -15.27M | -5.32M |
Viemed Healthcare Technical Analysis
Positive
6.88
Price Trends
9.46
Positive
8.69
Positive
7.76
Positive
Market Momentum
>-0.01
Negative
52.76
Neutral
88.78
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For VMD, the sentiment is Positive. The current price of 6.88 is below the 20-day moving average (MA) of 9.51, below the 50-day MA of 9.46, and below the 200-day MA of 7.76, indicating a bullish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 52.76 is Neutral, neither overbought nor oversold. The STOCH value of 88.78 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for VMD.
Viemed Healthcare Risk Analysis
Viemed Healthcare disclosed 39 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $887.97M | 48.32 | 16.27% | ― | 1.52% | ― | |
72 Outperform | $369.57M | 34.27 | 10.66% | ― | 23.10% | 22.75% | |
72 Outperform | $533.46M | -83.60 | 9.70% | ― | 17.18% | 34.07% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $68.88M | -0.93 | -55.88% | ― | 2.01% | 85.71% | |
49 Neutral | $170.57M | -5.07 | -12.90% | ― | 3.39% | 19.78% | |
49 Neutral | $290.25M | -2.36 | -130.00% | ― | 71.91% | 14.73% |
* Healthcare Sector Average
VMD
Viemed Healthcare
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2.94
44.08%
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Viemed Healthcare Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Viemed Healthcare Releases Updated March 2026 Investor Presentation
Positive
Mar 16, 2026
Viemed Healthcare has released a new investor deck dated March 2026, which it plans to use in presentations to investors, analysts and other stakeholders and has made available on its website. The materials are positioned as summary information to...
Business Operations and StrategyStock BuybackFinancial Disclosures
Viemed Healthcare Announces Share Repurchase and Strong Outlook
Positive
Mar 4, 2026
Viemed Healthcare, Inc., a national provider of technology-enabled, home-based healthcare solutions focused on respiratory, chronic care, and women’s health, reported record financial results for the fourth quarter and full year ended Decemb...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.