LeMaitre Vascular Inc (LMAT)

Return on equity (ROE)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	30,105	20,636	26,907	21,220	17,934
Total stockholders’ equity	US$ in thousands	297,900	268,201	254,151	172,572	148,141
ROE		10.11%	7.69%	10.59%	12.30%	12.11%

December 31, 2023 calculation

ROE = Net income ÷ Total stockholders’ equity
= $30,105K ÷ $297,900K
= 10.11%

The return on equity (ROE) of Lemaitre Vascular Inc has exhibited fluctuations over the past five years. In 2023, the ROE stands at 10.11%, representing a moderate level of return generated for each dollar of shareholders' equity. This figure is higher than the 2022 ROE of 7.69%, indicating an improvement in the company's ability to generate profits from its equity base.

Comparing the 2023 ROE to earlier years, we observe a slight decrease from the 2021 ROE of 10.59% and a more significant decline from the 2020 ROE of 12.30%. The highest ROE in the past five years was recorded in 2019 at 12.11%, suggesting that the company was more efficient at utilizing its equity to generate profits at that time.

Overall, Lemaitre Vascular Inc's ROE performance has shown some variability, with fluctuations in profitability levels over the years. The current ROE of 10.11% indicates a steady but not exceptional return on equity for the company in 2023. Further analysis of the underlying factors influencing ROE, such as profitability, leverage, and asset utilization, may provide more insights into the company's financial performance and efficiency in utilizing shareholder funds.