Viemed Healthcare, Inc.

Worth knowing

• Stock pay outran buybacks. Stock-based pay expense $21M vs $13M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +0.1% from December 2022 to July 2026.

  Over three fiscal years Viemed Healthcare recorded $21M of stock-based pay expense and spent $13M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Viemed Healthcare recorded $21M of stock-based pay expense and spent $13M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

• Valuation signals disagree. Cheaper than 91% of peers on operating cash profit (EBITDA), but only 50% on free cash flow.Cheaper than 91% of peers on operating cash profit, but only 50% on free cash flow.

  Relative to its operating cash profit (EBITDA), Viemed Healthcare looks cheaper than 91% of peers; relative to its free cash flow, cheaper than only 50%. The valuation score blends the two, so look at which measure fits this business best.Relative to its operating cash profit, Viemed Healthcare looks cheaper than 91% of peers; relative to its free cash flow, cheaper than only 50%. The valuation score blends the two, so look at which measure fits this business best.

• Profit recovered from an unusually weak 2022. Since 2022 (an unusually weak year for operating profit): revenue +95%, operating profit +178%.Since 2022: revenue +95%, operating profit +178%.

  Since 2022, Viemed Healthcare's revenue grew 95% while operating profit grew 178%: each extra dollar of sales is adding more profit.

• Profit is backed by cash. Free cash flow is 195% of reported profit.

  Viemed Healthcare's free cash flow is 195% of its reported profit, so its earnings are turning into cash it can reinvest, pay out or use to reduce debt.