What is Viemed Healthcare's operating income?

Viemed Healthcare's total operating income in 2025 was $22.95 million, based on the following breakdown: Total Gross Profit: $155.46 million Total Operating Expenses: $132.76 million

Viemed Healthcare (VMD) Financials

$11.97 -0.18 (-1.48%)

Closing price 07/20/2026 04:00 PM Eastern

Extended Trading

$11.97 0.00 (0.00%)

As of 07/20/2026 07:34 PM Eastern

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Annual Income Statements for Viemed Healthcare

This table shows Viemed Healthcare's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	9.51	8.53	32	9.13	6.22	10	11	15
Consolidated Net Income / (Loss)	9.51	8.53	32	9.13	6.22	10	11	15
Net Income / (Loss) Continuing Operations	9.51	8.53	32	9.13	6.22	10	11	15
Total Pre-Tax Income	9.67	8.80	26	13	8.99	14	16	22
Total Operating Income	10	8.86	27	12	8.25	14	18	23
Total Gross Profit	48	56	80	73	85	113	133	155
Total Revenue	64	80	131	117	139	183	224	270
Operating Revenue	64	80	131	117	139	183	224	270
Total Cost of Revenue	17	24	51	44	54	70	91	115
Operating Cost of Revenue	17	24	51	44	54	70	91	115
Total Operating Expenses	38	47	53	62	77	99	115	133
Selling, General & Admin Expense	34	41	53	55	68	88	106	121
Research & Development Expense	0.00	0.85	1.08	2.11	2.70	2.78	3.07	3.02
Depreciation Expense	0.59	0.67	0.82	0.85	1.01	1.39	1.48	1.49
Other Operating Expenses / (Income)	2.70	3.89	0.93	3.53	5.20	5.85	6.29	9.13
Other Special Charges / (Income)	0.05	0.36	-2.33	0.45	0.35	0.65	-1.91	-2.24
Total Other Income / (Expense), net	-0.39	-0.06	-0.42	0.92	1.73	0.16	-1.90	-0.93
Interest & Investment Income	-0.18	-0.42	-0.42	0.92	0.74	0.06	-1.73	-1.18
Other Income / (Expense), net	-0.21	0.36	-	-	0.99	0.10	-0.17	0.25
Income Tax Expense	0.16	0.27	-5.17	3.38	2.77	4.15	4.76	6.39
Net Income / (Loss) Attributable to Noncontrolling Interest	-	-	-	-	0.00	0.00	0.14	0.44
Basic Earnings per Share	$0.25	$0.23	$0.81	$0.23	$0.16	$0.27	$0.29	$0.38
Weighted Average Basic Shares Outstanding	37.89M	37.72M	38.74M	39.49M	38.66M	38.35M	38.75M	38.90M
Diluted Earnings per Share	$0.24	$0.21	$0.78	$0.22	$0.16	$0.25	$0.28	$0.37
Weighted Average Diluted Shares Outstanding	39.68M	39.75M	40.53M	40.68M	39.81M	40.38M	40.81M	40.82M
Weighted Average Basic & Diluted Shares Outstanding	-	38.49M	39.56M	39.68M	38.17M	38.76M	39.52M	38.60M

This table shows Viemed Healthcare's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	2.92	3.48	1.60	1.47	3.88	4.32	2.63	3.16	3.51	5.64	2.58
Consolidated Net Income / (Loss)	2.92	3.48	1.60	1.48	3.91	4.42	2.71	3.25	3.60	5.82	2.71
Net Income / (Loss) Continuing Operations	2.92	3.48	1.60	1.48	3.91	4.42	2.71	3.25	3.60	5.82	2.71
Total Pre-Tax Income	4.24	5.08	2.12	2.25	5.50	6.31	3.66	4.96	5.14	8.01	3.99
Total Operating Income	4.21	5.29	2.20	3.62	5.63	6.45	3.84	5.10	5.64	8.37	4.30
Total Gross Profit	31	32	30	33	34	36	33	37	41	44	43
Total Revenue	49	51	51	55	58	61	59	63	72	76	75
Operating Revenue	49	51	51	55	58	61	59	63	72	76	75
Total Cost of Revenue	19	19	21	22	24	25	26	26	31	32	33
Operating Cost of Revenue	19	19	21	22	24	25	26	26	31	32	33
Total Operating Expenses	26	27	28	29	29	32	30	32	36	36	39
Selling, General & Admin Expense	24	24	25	27	27	28	28	29	32	32	35
Research & Development Expense	0.59	0.65	0.75	0.76	0.76	0.80	0.80	0.85	0.78	0.60	0.58
Depreciation Expense	0.42	0.43	0.42	0.38	0.35	0.34	0.35	0.35	0.40	0.39	0.39
Other Operating Expenses / (Income)	1.45	1.53	1.43	1.62	1.71	1.52	2.31	2.34	2.18	2.30	2.45
Other Special Charges / (Income)	0.28	0.27	0.21	-	-0.47	-	-2.37	-0.64	0.48	0.29	0.36
Total Other Income / (Expense), net	0.07	-0.24	-0.06	-1.39	0.15	1.85	-0.10	-0.06	-0.46	-0.30	-0.27
Interest Expense	-	-	-	-	-	-	0.18	-	-	-	0.31
Other Income / (Expense), net	0.04	-0.03	0.03	-0.02	0.28	1.99	0.08	0.07	0.04	0.06	0.04
Income Tax Expense	1.32	1.60	0.52	0.77	1.59	1.88	0.95	1.71	1.54	2.19	1.28
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	-	0.00	0.01	0.03	-	0.09	0.09	0.09	0.18	0.13
Basic Earnings per Share	$0.08	$0.09	$0.04	$0.04	$0.10	$0.11	$0.07	$0.08	$0.09	$0.14	$0.07
Weighted Average Basic Shares Outstanding	38.44M	38.35M	38.72M	38.82M	38.87M	38.75M	39.43M	39.52M	38.64M	38.90M	38.43M
Diluted Earnings per Share	$0.07	$0.08	$0.04	$0.04	$0.10	$0.10	$0.06	$0.08	$0.09	$0.14	$0.06
Weighted Average Diluted Shares Outstanding	40.42M	40.38M	40.58M	40.55M	40.78M	40.81M	41.63M	41.08M	40.50M	40.82M	40.49M
Weighted Average Basic & Diluted Shares Outstanding	38.49M	38.76M	38.82M	38.83M	38.94M	39.52M	39.52M	38.79M	38.02M	38.60M	38.34M

This table details how cash moves in and out of Viemed Healthcare's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	5.32	2.94	18	-2.57	-11	-4.08	4.70	-4.04
Net Cash From Operating Activities	22	19	35	22	28	45	39	52
Net Cash From Continuing Operating Activities	22	19	35	22	28	45	39	52
Net Income / (Loss) Continuing Operations	9.51	8.53	32	9.13	6.22	10	11	15
Consolidated Net Income / (Loss)	9.51	8.53	32	9.13	6.22	10	11	15
Depreciation Expense	3.78	6.40	9.58	11	16	22	25	29
Amortization Expense	-	-	-	-	0.00	0.00	0.19	0.23
Non-Cash Adjustments To Reconcile Net Income	9.16	14	4.20	12	4.27	6.77	5.61	6.89
Changes in Operating Assets and Liabilities, net	-0.08	-9.64	-10	-9.68	1.62	6.34	-3.49	0.81
Net Cash From Investing Activities	-5.30	-13	-8.42	-20	-24	-52	-31	-50
Net Cash From Continuing Investing Activities	-5.30	-13	-8.42	-20	-24	-52	-31	-50
Purchase of Property, Plant & Equipment	-6.11	-13	-13	-20	-23	-26	-39	-40
Acquisitions	-	-	-	-	0.00	-29	-3.00	-26
Sale of Property, Plant & Equipment	0.81	0.57	5.26	0.60	1.06	2.59	10	16
Sale and/or Maturity of Investments	-	-	-	-	0.00	0.00	0.75	0.00
Net Cash From Financing Activities	-12	-3.33	-9.07	-5.32	-15	2.83	-3.69	-5.79
Net Cash From Continuing Financing Activities	-12	-3.33	-9.07	-5.32	-15	2.83	-3.69	-5.79
Repayment of Debt	0.00	0.00	-1.75	-4.00	-5.80	-11	-6.60	-14
Repurchase of Common Equity	-1.59	-1.52	0.00	0.00	-9.57	0.00	0.00	-13
Payment of Dividends	-	-	-	-	0.00	0.00	-0.04	-0.37
Issuance of Debt	0.00	9.38	-	-	0.00	13	3.00	22
Other Financing Activities, net	-10	-11	-7.32	-1.32	0.10	0.55	-0.05	-0.30
Cash Interest Paid	0.19	0.33	0.56	0.35	0.23	0.85	0.95	0.87
Cash Income Taxes Paid	0.15	0.34	3.31	1.77	-0.85	3.57	6.83	7.39

This table details how cash moves in and out of Viemed Healthcare's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-0.15	2.76	-5.53	1.50	2.54	6.19	-7.38	9.86	-8.89	2.38	-3.74
Net Cash From Operating Activities	14	13	1.18	10	13	15	2.85	12	18	18	8.07
Net Cash From Continuing Operating Activities	14	13	1.18	10	13	15	2.85	12	18	18	8.07
Net Income / (Loss) Continuing Operations	2.92	3.48	1.60	1.48	3.91	4.42	2.71	3.25	3.60	5.82	2.71
Consolidated Net Income / (Loss)	2.92	3.48	1.60	1.48	3.91	4.42	2.71	3.25	3.60	5.82	2.71
Depreciation Expense	5.98	5.92	6.29	6.31	6.41	6.37	6.61	6.89	7.54	7.57	7.62
Amortization Expense	-	-	0.00	-	0.05	0.05	0.04	0.03	0.06	0.11	0.07
Non-Cash Adjustments To Reconcile Net Income	1.85	1.86	1.57	2.25	1.37	0.42	-0.06	1.71	5.39	-0.14	2.81
Changes in Operating Assets and Liabilities, net	3.07	2.03	-8.29	0.06	1.01	3.73	-6.45	0.38	1.79	5.09	-5.14
Net Cash From Investing Activities	-8.51	-7.49	-5.37	-11	-4.97	-9.20	-8.53	-1.73	-32	-7.61	-5.49
Net Cash From Continuing Investing Activities	-8.51	-7.49	-5.37	-11	-4.97	-9.20	-8.53	-1.73	-32	-7.61	-5.49
Purchase of Property, Plant & Equipment	-7.40	-7.95	-6.01	-8.93	-11	-13	-15	-8.13	-7.64	-8.74	-6.71
Sale of Property, Plant & Equipment	0.35	0.46	0.64	0.77	6.03	2.88	6.95	6.40	1.67	1.13	1.23
Net Cash From Financing Activities	-5.45	-3.03	-1.34	2.48	-5.24	0.40	-1.70	-0.67	5.04	-8.45	-6.33
Net Cash From Continuing Financing Activities	-5.45	-3.03	-1.34	2.48	-5.24	0.40	-1.70	-0.67	5.04	-8.45	-6.33
Repayment of Debt	-5.42	-2.94	-0.68	-0.62	-5.23	-0.16	-0.13	-0.12	-5.23	-8.41	-3.24
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-12	-	-1.44
Payment of Dividends	-	-	-	-	-	-	0.00	-	-0.09	-0.09	-0.17
Other Financing Activities, net	-0.03	-0.09	-0.66	0.10	-0.00	0.60	-1.57	1.31	-0.08	0.05	-1.47
Cash Interest Paid	0.33	0.35	0.22	0.29	0.23	0.21	0.13	0.09	0.38	0.29	0.23
Cash Income Taxes Paid	0.13	0.35	0.00	3.84	2.58	0.41	2.96	4.10	0.21	0.12	0.01

This table presents Viemed Healthcare's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	54	83	113	118	117	155	177	199
Total Current Assets	23	28	47	47	40	38	53	48
Cash & Equivalents	10	13	31	28	17	13	18	14
Accounts Receivable	8.84	12	12	13	15	18	25	26
Inventories, net	2.89	1.36	2.31	2.46	3.57	4.63	4.32	5.05
Prepaid Expenses	0.95	1.56	1.51	1.73	3.85	2.45	6.11	4.13
Current Deferred & Refundable Income Taxes	-	-	0.00	1.89	0.03	-	0.00	0.23
Plant, Property, & Equipment, net	31	55	0.00	0.00	68	74	76	79
Total Noncurrent Assets	0.00	0.01	65	71	9.56	43	48	72
Long-Term Investments	-	0.01	-	-	-	1.68	2.79	2.79
Goodwill	-	-	-	-	0.00	30	33	59
Intangible Assets	-	-	-	-	0.00	0.57	0.85	1.29
Noncurrent Deferred & Refundable Income Taxes	-	0.00	8.73	4.79	3.12	4.56	8.40	5.29
Other Noncurrent Operating Assets	0.00	0.00	57	66	6.44	5.98	2.83	3.58
Total Liabilities & Shareholders' Equity	54	83	113	118	117	155	177	199
Total Liabilities	21	39	31	23	20	41	44	56
Total Current Liabilities	20	26	23	18	19	32	37	41
Short-Term Debt	0.00	1.75	1.84	1.48	0.00	1.07	0.41	1.09
Accounts Payable	5.88	4.70	2.10	3.24	2.65	4.18	5.32	7.33
Accrued Expenses	7.55	8.97	13	8.88	11	18	20	24
Current Deferred Revenue	2.59	3.32	3.41	3.75	4.62	6.21	6.69	7.52
Current Deferred & Payable Income Tax Liabilities	0.15	0.09	0.34	-	0.00	2.15	3.88	0.00
Other Current Liabilities	3.39	7.09	2.74	0.46	0.50	0.93	0.86	1.20
Total Noncurrent Liabilities	1.51	13	7.85	5.33	1.09	8.88	6.44	15
Long-Term Debt	0.00	7.63	5.80	4.31	0.00	6.00	3.59	11
Other Noncurrent Operating Liabilities	1.51	5.36	2.05	1.03	1.09	2.87	2.85	3.29
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	33	44	82	95	97	114	133	144
Total Preferred & Common Equity	33	44	82	95	97	114	131	142
Total Common Equity	33	44	82	95	97	114	131	142
Common Stock	5.46	9.74	17	22	27	34	42	39
Retained Earnings	27	34	66	73	70	79	90	103
Noncontrolling Interest	-	-	-	-	-	0.00	1.91	1.98

This table presents Viemed Healthcare's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	119	125	149	149	155	164	170	178	185	202	197
Total Current Assets	43	47	36	36	39	45	48	49	55	50	50
Cash & Equivalents	21	24	10	10	7.31	8.81	11	10	20	11	9.76
Accounts Receivable	15	16	18	18	24	27	27	27	27	27	31
Inventories, net	3.18	3.45	4.48	4.67	4.35	4.42	4.31	4.51	4.32	5.27	5.18
Prepaid Expenses	3.14	3.39	2.33	3.19	2.48	4.24	4.99	7.66	4.40	4.27	3.69
Current Deferred & Refundable Income Taxes	0.09	0.00	1.03	0.00	-	0.45	-	-	-	1.91	0.00
Plant, Property, & Equipment, net	68	68	73	73	74	75	74	81	80	81	76
Total Noncurrent Assets	6.23	5.44	40	40	43	41	45	48	50	72	72
Long-Term Investments	-	-	-	-	-	-	-	2.79	2.79	2.79	2.79
Goodwill	-	-	30	30	30	33	33	33	33	58	59
Intangible Assets	-	-	0.69	0.69	0.53	0.91	0.88	0.82	0.78	1.35	1.22
Noncurrent Deferred & Refundable Income Taxes	3.93	3.84	3.84	3.91	4.56	4.56	8.07	8.40	10	5.67	5.29
Other Noncurrent Operating Assets	2.30	1.60	5.46	5.28	7.59	2.89	2.76	2.88	2.64	3.59	3.30
Total Liabilities & Shareholders' Equity	119	125	149	149	155	164	170	178	185	202	197
Total Liabilities	26	25	45	41	39	43	43	41	43	67	52
Total Current Liabilities	21	23	32	32	30	31	36	35	37	44	41
Short-Term Debt	0.17	-	3.17	1.83	0.60	0.77	0.81	0.39	0.82	1.55	0.87
Accounts Payable	3.74	4.26	6.17	5.98	5.80	6.33	6.01	7.94	8.25	8.67	8.58
Accrued Expenses	12	13	16	17	14	17	20	18	19	25	22
Current Deferred Revenue	4.65	4.70	5.96	6.22	6.09	6.72	6.82	6.80	7.19	7.81	7.48
Current Deferred & Payable Income Tax Liabilities	-	1.25	-	0.23	2.68	0.00	2.08	1.88	1.45	0.00	1.04
Other Current Liabilities	-	0.40	0.77	0.58	0.90	0.85	0.81	0.94	0.91	1.15	1.20
Total Noncurrent Liabilities	4.95	1.17	13	9.03	8.49	11	6.29	5.84	5.71	23	11
Long-Term Debt	4.16	-	12	8.10	5.91	8.72	3.65	3.53	3.47	20	8.33
Other Noncurrent Operating Liabilities	0.56	1.17	0.92	0.94	2.58	2.57	2.64	2.31	2.24	3.09	2.53
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	94	100	105	109	116	121	127	137	142	135	146
Total Preferred & Common Equity	94	100	105	109	116	119	125	135	140	134	144
Total Common Equity	94	100	105	109	116	119	125	135	140	134	144
Common Stock	26	29	31	33	36	38	40	44	46	36	38
Retained Earnings	68	71	73	76	80	82	85	91	94	97	105
Noncontrolling Interest	-	-	-	-	-	1.81	1.84	1.99	1.89	1.89	1.93

This table displays calculated financial ratios and metrics derived from Viemed Healthcare's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	37,952,660.00	39,145,182.00	39,630,446.00	-	-	-	38,017,907.00
DEI Adjusted Shares Outstanding	0.00	37,952,660.00	39,145,182.00	39,630,446.00	-	-	-	38,017,907.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	0.22	0.81	0.23	-	-	-	0.39
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	24.50%	63.61%	-10.85%	18.60%	31.82%	22.54%	20.52%
EBITDA Growth	0.00%	14.54%	132.84%	-37.05%	8.64%	45.91%	24.52%	20.24%
EBIT Growth	0.00%	-6.44%	190.56%	-56.76%	-20.20%	56.13%	36.07%	30.88%
NOPAT Growth	0.00%	-13.18%	273.13%	-73.61%	-32.43%	78.59%	23.83%	28.36%
Net Income Growth	0.00%	-10.34%	269.85%	-71.06%	-31.82%	64.63%	11.38%	34.77%
EPS Growth	0.00%	-12.50%	271.43%	-71.79%	-27.27%	56.25%	12.00%	32.14%
Operating Cash Flow Growth	0.00%	-14.67%	83.95%	-35.93%	23.36%	62.94%	-13.54%	32.81%
Free Cash Flow Firm Growth	0.00%	0.00%	249.38%	-140.32%	57.96%	-607.71%	113.16%	-404.12%
Invested Capital Growth	0.00%	79.21%	46.93%	23.75%	11.06%	32.76%	9.88%	19.36%
Revenue Q/Q Growth	0.00%	0.00%	8.02%	0.65%	4.16%	7.79%	4.65%	6.08%
EBITDA Q/Q Growth	0.00%	0.00%	10.35%	-1.37%	4.68%	10.33%	9.22%	3.56%
EBIT Q/Q Growth	0.00%	0.00%	10.64%	-4.94%	-1.51%	14.74%	19.34%	2.35%
NOPAT Q/Q Growth	0.00%	0.00%	8.19%	-13.05%	-19.10%	13.67%	7.77%	10.61%
Net Income Q/Q Growth	0.00%	0.00%	9.30%	-9.73%	-20.95%	11.29%	9.05%	9.95%
EPS Q/Q Growth	0.00%	0.00%	8.33%	-8.33%	-15.79%	4.17%	7.69%	12.12%
Operating Cash Flow Q/Q Growth	0.00%	-4.05%	-4.38%	14.59%	-3.38%	14.14%	4.56%	7.13%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	34.46%	-372.31%	34.95%	-32.73%	40.56%
Invested Capital Q/Q Growth	0.00%	0.00%	14.85%	5.00%	6.92%	-2.04%	-0.24%	-2.18%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	74.11%	69.78%	61.01%	62.71%	60.99%	61.63%	59.40%	57.52%
EBITDA Margin	21.15%	19.46%	27.69%	19.56%	17.91%	19.83%	20.15%	19.25%
Operating Margin	15.60%	11.04%	20.40%	9.89%	5.94%	7.83%	7.98%	8.49%
EBIT Margin	15.28%	11.48%	20.40%	9.89%	6.66%	7.88%	8.75%	8.58%
Profit (Net Income) Margin	14.75%	10.62%	24.01%	7.80%	4.48%	5.60%	5.09%	5.69%
Tax Burden Percent	98.32%	96.92%	119.60%	72.99%	69.21%	71.18%	70.56%	70.64%
Interest Burden Percent	98.16%	95.43%	98.44%	107.97%	97.28%	99.74%	82.37%	93.82%
Effective Tax Rate	1.68%	3.08%	-19.60%	27.01%	30.79%	28.82%	29.44%	29.36%
Return on Invested Capital (ROIC)	44.62%	27.75%	65.33%	12.95%	7.50%	10.93%	11.31%	12.64%
ROIC Less NNEP Spread (ROIC-NNEP)	48.27%	28.57%	68.99%	10.02%	4.91%	10.57%	21.57%	20.88%
Return on Net Nonoperating Assets (RNNOA)	-15.43%	-5.40%	-15.04%	-2.61%	-1.01%	-1.22%	-2.08%	-1.53%
Return on Equity (ROE)	29.19%	22.35%	50.29%	10.34%	6.48%	9.71%	9.23%	11.11%
Cash Return on Invested Capital (CROIC)	0.00%	-28.99%	27.32%	-8.28%	-2.98%	-17.22%	1.89%	-5.01%
Operating Return on Assets (OROA)	18.36%	13.53%	27.45%	10.05%	7.86%	10.61%	11.83%	12.33%
Return on Assets (ROA)	17.72%	12.51%	32.31%	7.92%	5.30%	7.53%	6.87%	8.17%
Return on Common Equity (ROCE)	29.19%	22.35%	50.29%	10.34%	6.48%	9.71%	9.16%	10.95%
Return on Equity Simple (ROE_SIMPLE)	29.19%	19.51%	38.60%	9.62%	6.41%	8.99%	8.68%	0.00%
Net Operating Profit after Tax (NOPAT)	9.89	8.58	32	8.45	5.71	10	13	16
NOPAT Margin	15.34%	10.70%	24.39%	7.22%	4.11%	5.57%	5.63%	6.00%
Net Nonoperating Expense Percent (NNEP)	-3.64%	-0.82%	-3.66%	2.93%	2.58%	0.36%	-10.27%	-8.25%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	5.88%	8.43%	9.20%	10.40%
Cost of Revenue to Revenue	25.89%	30.22%	38.99%	37.29%	39.01%	38.37%	40.60%	42.48%
SG&A Expenses to Revenue	53.32%	51.56%	40.23%	46.89%	49.10%	48.02%	47.36%	44.90%
R&D to Revenue	0.00%	1.06%	0.82%	1.80%	1.94%	1.52%	1.37%	1.12%
Operating Expenses to Revenue	58.51%	58.74%	40.61%	52.82%	55.76%	53.85%	52.19%	49.12%
Earnings before Interest and Taxes (EBIT)	9.85	9.22	27	12	9.24	14	20	23
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	14	16	36	23	25	36	45	52
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	5.38	3.72	2.18	2.96	2.65	2.38	2.00
Price to Tangible Book Value (P/TBV)	0.00	5.38	3.72	2.18	2.96	3.62	3.20	3.47
Price to Revenue (P/Rev)	0.00	2.93	2.31	1.77	2.07	1.65	1.39	1.05
Price to Earnings (P/E)	0.00	27.60	9.63	22.67	46.20	29.50	27.72	18.91
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	3.62%	10.38%	4.41%	2.16%	3.39%	3.61%	5.29%
Enterprise Value to Invested Capital (EV/IC)	0.00	5.83	4.81	2.55	3.37	2.77	2.55	2.01
Enterprise Value to Revenue (EV/Rev)	0.00	2.88	2.14	1.57	1.95	1.61	1.33	1.04
Enterprise Value to EBITDA (EV/EBITDA)	0.00	14.81	7.71	8.05	10.88	8.12	6.59	5.39
Enterprise Value to EBIT (EV/EBIT)	0.00	25.10	10.47	15.91	29.27	20.43	15.17	12.09
Enterprise Value to NOPAT (EV/NOPAT)	0.00	26.95	8.75	21.80	47.37	28.89	23.58	17.31
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	12.12	7.99	8.19	9.75	6.52	7.62	5.40
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	20.93	0.00	0.00	0.00	140.85	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.21	0.09	0.06	0.00	0.06	0.03	0.09
Long-Term Debt to Equity	0.00	0.17	0.07	0.05	0.00	0.05	0.03	0.08
Financial Leverage	-0.32	-0.19	-0.22	-0.26	-0.21	-0.12	-0.10	-0.07
Leverage Ratio	1.65	1.79	1.56	1.31	1.22	1.29	1.34	1.36
Compound Leverage Factor	1.62	1.70	1.53	1.41	1.19	1.29	1.11	1.28
Debt to Total Capital	0.00%	17.67%	8.54%	5.75%	0.00%	5.85%	2.91%	7.94%
Short-Term Debt to Total Capital	0.00%	3.30%	2.06%	1.47%	0.00%	0.89%	0.30%	0.70%
Long-Term Debt to Total Capital	0.00%	14.37%	6.49%	4.28%	0.00%	4.96%	2.61%	7.24%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.39%	1.27%
Common Equity to Total Capital	100.00%	82.33%	91.46%	94.25%	100.00%	94.15%	95.70%	90.79%
Debt to EBITDA	0.00	0.60	0.21	0.25	0.00	0.19	0.09	0.24
Net Debt to EBITDA	0.00	-0.26	-0.64	-0.99	0.00	-0.21	-0.36	-0.08
Long-Term Debt to EBITDA	0.00	0.49	0.16	0.19	0.00	0.17	0.08	0.22
Debt to NOPAT	0.00	1.09	0.24	0.68	0.00	0.69	0.32	0.76
Net Debt to NOPAT	0.00	-0.46	-0.73	-2.68	0.00	-0.73	-1.29	-0.24
Long-Term Debt to NOPAT	0.00	0.89	0.18	0.51	0.00	0.59	0.28	0.70
Altman Z-Score	0.00	5.58	8.93	7.85	11.14	6.68	6.73	5.56
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.77%	1.40%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	1.18	1.07	2.05	2.66	2.11	1.19	1.42	1.18
Quick Ratio	0.98	0.96	1.88	2.31	1.71	0.97	1.14	0.95
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-8.97	13	-5.40	-2.27	-16	2.11	-6.43
Operating Cash Flow to CapEx	421.96%	148.99%	450.94%	113.92%	126.27%	192.19%	137.40%	217.82%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	1.20	1.18	1.35	1.02	1.18	1.35	1.35	1.44
Accounts Receivable Turnover	7.29	7.88	10.99	9.29	9.85	10.82	10.34	10.70
Inventory Turnover	5.78	11.42	27.90	18.31	17.96	17.12	20.35	24.52
Fixed Asset Turnover	2.11	1.88	0.00	0.00	0.00	2.59	2.99	3.49
Accounts Payable Turnover	2.84	4.58	15.07	16.36	18.39	20.56	19.17	18.15
Days Sales Outstanding (DSO)	50.05	46.33	33.23	39.28	37.07	33.74	35.29	34.10
Days Inventory Outstanding (DIO)	63.14	31.96	13.08	19.93	20.33	21.32	17.93	14.89
Days Payable Outstanding (DPO)	128.69	79.65	24.23	22.30	19.85	17.75	19.04	20.11
Cash Conversion Cycle (CCC)	-15.50	-1.36	22.08	36.91	37.55	37.30	34.18	28.87
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	22	40	58	72	80	106	117	140
Invested Capital Turnover	2.91	2.59	2.68	1.79	1.82	1.96	2.01	2.11
Increase / (Decrease) in Invested Capital	0.00	18	19	14	7.98	26	11	23
Enterprise Value (EV)	0.00	231	280	184	271	295	298	281
Market Capitalization	0.00	235	304	207	287	302	312	282
Book Value per Share	$0.86	$1.15	$2.09	$2.39	$2.55	$2.96	$3.37	$3.72
Tangible Book Value per Share	$0.86	$1.15	$2.09	$2.39	$2.55	$2.17	$2.51	$2.14
Total Capital	33	53	89	101	97	121	137	156
Total Debt	0.00	9.38	7.63	5.79	0.00	7.07	4.00	12
Total Long-Term Debt	0.00	7.63	5.80	4.31	0.00	6.00	3.59	11
Net Debt	-10	-3.99	-23	-23	-17	-7.45	-16	-3.91
Capital Expenditures (CapEx)	5.30	13	7.79	20	22	24	28	24
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-6.89	-9.71	-4.99	2.57	3.97	-5.52	-1.58	-4.97
Debt-free Net Working Capital (DFNWC)	3.52	3.65	26	31	21	7.32	16	8.53
Net Working Capital (NWC)	3.52	1.90	24	29	21	6.24	16	7.44
Net Nonoperating Expense (NNE)	0.38	0.06	0.50	-0.67	-0.51	-0.04	1.22	0.83
Net Nonoperating Obligations (NNO)	-10	-3.99	-23	-23	-17	-7.45	-16	-3.91
Total Depreciation and Amortization (D&A)	3.78	6.40	9.58	11	16	22	26	29
Debt-free, Cash-free Net Working Capital to Revenue	-10.69%	-12.09%	-3.80%	2.20%	2.86%	-3.02%	-0.70%	-1.84%
Debt-free Net Working Capital to Revenue	5.46%	4.55%	19.80%	26.46%	15.04%	4.00%	7.12%	3.15%
Net Working Capital to Revenue	5.46%	2.37%	18.40%	25.20%	15.04%	3.41%	6.94%	2.75%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.81	$0.23	$0.16	$0.27	$0.29	$0.38
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	38.74M	39.49M	38.66M	38.35M	38.75M	38.90M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.78	$0.22	$0.16	$0.25	$0.28	$0.37
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	40.53M	40.68M	39.81M	40.38M	40.81M	40.82M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	39.56M	39.68M	38.17M	38.76M	39.52M	38.60M
Normalized Net Operating Profit after Tax (NOPAT)	9.94	8.93	17	8.78	5.95	11	13	15
Normalized NOPAT Margin	15.42%	11.13%	13.04%	7.50%	4.29%	5.82%	5.63%	5.41%
Pre Tax Income Margin	15.00%	10.96%	20.08%	10.68%	6.48%	7.86%	7.21%	8.05%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	2.43%
Augmented Payout Ratio	16.76%	17.85%	0.00%	0.00%	153.78%	0.00%	0.32%	88.44%

This table displays calculated financial ratios and metrics derived from Viemed Healthcare's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	39,521,618.00	39,523,787.00	38,785,759.00	38,017,907.00	38,602,631.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	39,521,618.00	39,523,787.00	38,785,759.00	38,017,907.00	38,602,631.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	0.07	0.08	0.09	0.15	0.07
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	38.15%	35.28%	27.90%	26.91%	17.41%	19.62%	16.87%	14.72%	23.98%	25.51%	27.54%
EBITDA Growth	81.02%	41.42%	25.65%	15.45%	20.94%	32.92%	24.06%	20.97%	7.44%	29.78%	13.76%
EBIT Growth	178.31%	48.92%	10.67%	5.17%	39.02%	60.46%	75.61%	43.61%	-3.69%	40.65%	10.60%
NOPAT Growth	182.38%	50.70%	14.57%	7.63%	37.99%	24.96%	70.64%	40.25%	-1.03%	34.31%	2.74%
Net Income Growth	176.68%	42.62%	5.67%	-36.61%	33.78%	27.24%	69.06%	120.04%	-7.81%	31.46%	0.11%
EPS Growth	133.33%	14.29%	0.00%	-33.33%	42.86%	25.00%	50.00%	100.00%	-10.00%	40.00%	0.00%
Operating Cash Flow Growth	73.22%	72.88%	-88.81%	33.57%	-7.71%	12.82%	142.89%	20.35%	44.11%	23.05%	182.80%
Free Cash Flow Firm Growth	-491.90%	-306.01%	-3,796.13%	77.18%	85.12%	73.56%	77.25%	90.22%	-369.94%	-176.59%	-25.55%
Invested Capital Growth	44.91%	32.76%	59.38%	8.67%	7.89%	9.88%	10.61%	3.39%	21.73%	19.36%	11.53%
Revenue Q/Q Growth	14.06%	2.71%	-0.29%	8.64%	5.53%	4.64%	-2.58%	6.64%	14.05%	5.93%	-1.01%
EBITDA Q/Q Growth	26.06%	9.39%	-23.85%	9.95%	32.04%	20.23%	-14.90%	14.42%	9.89%	21.28%	-25.40%
EBIT Q/Q Growth	46.30%	23.92%	-57.63%	36.91%	93.38%	43.04%	-34.68%	31.95%	10.04%	48.29%	-48.64%
NOPAT Q/Q Growth	31.03%	25.09%	-54.02%	42.82%	68.00%	13.27%	-37.21%	17.38%	18.55%	53.72%	-51.97%
Net Income Q/Q Growth	25.28%	19.12%	-53.90%	-7.86%	164.39%	13.29%	-38.74%	19.93%	10.77%	61.56%	-53.35%
EPS Q/Q Growth	16.67%	14.29%	-50.00%	0.00%	150.00%	0.00%	-40.00%	33.33%	12.50%	55.56%	-57.14%
Operating Cash Flow Q/Q Growth	81.15%	-3.80%	-91.15%	766.55%	25.17%	17.59%	-80.96%	329.36%	49.89%	0.40%	-56.23%
Free Cash Flow Firm Q/Q Growth	1.38%	26.42%	-69.99%	82.78%	35.71%	-30.76%	-57.09%	92.59%	-2,989.55%	23.04%	28.69%
Invested Capital Q/Q Growth	-0.82%	-2.04%	6.78%	3.12%	-1.53%	-0.24%	9.19%	-3.61%	15.94%	-2.18%	2.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.86%	63.29%	58.91%	59.84%	59.26%	59.54%	56.28%	58.25%	57.49%	57.89%	56.79%
EBITDA Margin	20.69%	22.04%	16.83%	17.03%	21.31%	24.49%	17.87%	19.17%	18.47%	21.15%	15.94%
Operating Margin	8.51%	10.42%	4.36%	6.58%	9.70%	10.63%	6.50%	8.08%	7.85%	10.99%	5.70%
EBIT Margin	8.60%	10.37%	4.41%	5.55%	10.18%	13.91%	6.62%	8.19%	7.91%	11.07%	5.74%
Profit (Net Income) Margin	5.91%	6.85%	3.17%	2.69%	6.73%	7.29%	4.58%	5.15%	5.01%	7.63%	3.60%
Tax Burden Percent	68.86%	68.50%	75.58%	65.79%	71.01%	70.17%	74.00%	65.48%	70.11%	72.64%	67.98%
Interest Burden Percent	99.81%	96.45%	95.11%	73.53%	93.14%	74.66%	93.51%	96.05%	90.31%	94.96%	92.15%
Effective Tax Rate	31.14%	31.50%	24.42%	34.21%	28.99%	29.83%	26.00%	34.52%	29.89%	27.36%	32.02%
Return on Invested Capital (ROIC)	10.84%	14.00%	6.80%	7.79%	13.07%	14.97%	9.20%	10.53%	10.78%	16.82%	8.22%
ROIC Less NNEP Spread (ROIC-NNEP)	10.60%	15.20%	7.24%	-53.47%	14.96%	15.84%	11.90%	11.36%	41.27%	19.43%	11.56%
Return on Net Nonoperating Assets (RNNOA)	-1.00%	-1.76%	-0.95%	-0.70%	-0.62%	-1.52%	-0.46%	-0.89%	-0.37%	-1.42%	-0.51%
Return on Equity (ROE)	9.84%	12.25%	5.85%	7.09%	12.46%	13.45%	8.74%	9.63%	10.42%	15.39%	7.71%
Cash Return on Invested Capital (CROIC)	-26.90%	-17.22%	-34.71%	0.97%	2.78%	1.89%	1.28%	8.81%	-8.32%	-5.01%	1.15%
Operating Return on Assets (OROA)	10.86%	13.96%	6.12%	7.30%	13.68%	18.80%	9.26%	11.33%	10.83%	15.90%	8.77%
Return on Assets (ROA)	7.46%	9.22%	4.40%	3.53%	9.05%	9.85%	6.41%	7.12%	6.86%	10.97%	5.49%
Return on Common Equity (ROCE)	9.84%	12.25%	5.85%	7.03%	12.36%	13.35%	8.67%	9.50%	10.27%	15.18%	7.60%
Return on Equity Simple (ROE_SIMPLE)	8.46%	0.00%	8.88%	7.94%	8.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	2.90	3.62	1.67	2.38	4.00	4.53	2.84	3.34	3.96	6.08	2.92
NOPAT Margin	5.86%	7.14%	3.29%	4.33%	6.89%	7.46%	4.81%	5.29%	5.50%	7.98%	3.87%
Net Nonoperating Expense Percent (NNEP)	0.24%	-1.20%	-0.44%	61.26%	-1.89%	-0.87%	-2.69%	-0.84%	-30.48%	-2.61%	-3.35%
Return On Investment Capital (ROIC_SIMPLE)	-	2.99%	-	-	-	3.30%	2.02%	2.29%	2.53%	3.90%	1.88%
Cost of Revenue to Revenue	38.14%	36.71%	41.09%	40.16%	40.74%	40.46%	43.72%	41.75%	42.51%	42.11%	43.21%
SG&A Expenses to Revenue	47.88%	47.11%	49.05%	48.22%	45.98%	46.48%	48.07%	45.68%	44.39%	42.29%	46.13%
R&D to Revenue	1.20%	1.28%	1.48%	1.38%	1.31%	1.32%	1.35%	1.34%	1.08%	0.79%	0.77%
Operating Expenses to Revenue	53.43%	52.81%	54.60%	52.24%	50.03%	52.19%	49.91%	50.29%	49.71%	46.98%	51.14%
Earnings before Interest and Taxes (EBIT)	4.25	5.26	2.23	3.05	5.90	8.45	3.92	5.17	5.69	8.43	4.33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	10	11	8.52	9.36	12	15	11	12	13	16	12
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.38	2.65	3.14	2.13	2.28	2.38	2.14	1.95	1.97	2.00	2.47
Price to Tangible Book Value (P/TBV)	3.30	3.62	4.25	2.98	3.12	3.20	2.85	2.58	3.57	3.47	4.25
Price to Revenue (P/Rev)	1.52	1.65	1.88	1.24	1.33	1.39	1.24	1.13	1.03	1.05	1.24
Price to Earnings (P/E)	27.58	29.50	35.38	26.86	27.30	27.72	23.42	19.54	19.35	18.91	23.88
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.63%	3.39%	2.83%	3.72%	3.66%	3.61%	4.27%	5.12%	5.17%	5.29%	4.19%
Enterprise Value to Invested Capital (EV/IC)	2.38	2.77	3.16	2.14	2.37	2.55	2.20	2.08	1.91	2.01	2.49
Enterprise Value to Revenue (EV/Rev)	1.52	1.61	1.88	1.24	1.30	1.33	1.21	1.06	1.07	1.04	1.24
Enterprise Value to EBITDA (EV/EBITDA)	7.85	8.12	9.59	6.49	6.71	6.59	6.19	5.20	5.42	5.39	6.62
Enterprise Value to EBIT (EV/EBIT)	20.54	20.43	24.90	17.24	16.88	15.17	14.46	11.21	12.02	12.09	14.99
Enterprise Value to NOPAT (EV/NOPAT)	28.79	28.89	35.05	24.04	23.70	23.58	20.33	17.45	18.59	17.31	21.74
Enterprise Value to Operating Cash Flow (EV/OCF)	6.52	6.52	10.16	6.63	7.43	7.62	6.88	5.99	5.62	5.40	6.20
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	230.58	88.35	140.85	180.22	24.05	0.00	0.00	227.09
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.09	0.06	0.06	0.08	0.04	0.03	0.03	0.03	0.16	0.09	0.06
Long-Term Debt to Equity	0.07	0.05	0.05	0.07	0.03	0.03	0.03	0.02	0.14	0.08	0.06
Financial Leverage	-0.09	-0.12	-0.13	0.01	-0.04	-0.10	-0.04	-0.08	-0.01	-0.07	-0.04
Leverage Ratio	1.33	1.29	1.29	1.39	1.35	1.34	1.32	1.33	1.42	1.36	1.33
Compound Leverage Factor	1.32	1.24	1.23	1.02	1.26	1.00	1.23	1.27	1.28	1.29	1.22
Debt to Total Capital	8.36%	5.85%	5.30%	7.26%	3.40%	2.91%	2.79%	2.94%	13.50%	7.94%	5.94%
Short-Term Debt to Total Capital	1.54%	0.89%	0.49%	0.59%	0.62%	0.30%	0.28%	0.56%	0.99%	0.70%	0.56%
Long-Term Debt to Total Capital	6.82%	4.96%	4.81%	6.67%	2.78%	2.61%	2.51%	2.37%	12.50%	7.24%	5.38%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	1.38%	1.40%	1.39%	1.42%	1.30%	1.20%	1.27%	1.25%
Common Equity to Total Capital	91.64%	94.15%	94.70%	91.36%	95.20%	95.70%	95.80%	95.77%	85.30%	90.79%	92.81%
Debt to EBITDA	0.30	0.19	0.17	0.24	0.11	0.09	0.09	0.09	0.42	0.24	0.17
Net Debt to EBITDA	0.00	-0.21	-0.02	-0.03	-0.21	-0.36	-0.20	-0.38	0.14	-0.08	-0.06
Long-Term Debt to EBITDA	0.25	0.17	0.16	0.22	0.09	0.08	0.08	0.07	0.39	0.22	0.16
Debt to NOPAT	1.11	0.69	0.62	0.89	0.38	0.32	0.28	0.29	1.44	0.76	0.57
Net Debt to NOPAT	-0.02	-0.73	-0.08	-0.11	-0.74	-1.29	-0.65	-1.26	0.49	-0.24	-0.21
Long-Term Debt to NOPAT	0.90	0.59	0.57	0.82	0.31	0.28	0.26	0.24	1.34	0.70	0.51
Altman Z-Score	5.80	6.48	7.77	5.68	6.16	6.52	6.36	6.04	4.42	5.31	6.46
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.80%	0.78%	0.77%	0.79%	1.41%	1.42%	1.40%	1.39%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.14	1.19	1.28	1.43	1.31	1.42	1.38	1.48	1.13	1.18	1.22
Quick Ratio	0.89	0.97	1.06	1.20	1.10	1.14	1.04	1.25	0.87	0.95	1.01
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-31	-23	-41	-7.12	-4.58	-5.99	-9.41	-0.70	-22	-17	-12
Operating Cash Flow to CapEx	195.90%	177.47%	21.90%	124.66%	256.49%	150.65%	33.46%	709.55%	307.91%	242.26%	147.15%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-52.55	0.00	0.00	0.00	-38.72
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	15.94	0.00	0.00	0.00	26.46
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-31.71	0.00	0.00	0.00	8.48
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.26	1.35	1.39	1.31	1.34	1.35	1.40	1.38	1.37	1.44	1.53
Accounts Receivable Turnover	10.32	10.82	9.51	9.15	9.53	10.34	9.08	8.99	9.36	10.70	9.89
Inventory Turnover	16.87	17.12	19.36	18.05	18.96	20.35	21.70	22.95	22.40	24.52	25.08
Fixed Asset Turnover	2.40	2.59	2.73	2.79	2.90	2.99	3.01	3.12	3.29	3.49	3.65
Accounts Payable Turnover	13.63	20.56	15.00	12.85	14.21	19.17	13.99	13.76	14.62	18.15	14.72
Days Sales Outstanding (DSO)	35.37	33.74	38.37	39.89	38.30	35.29	40.19	40.62	39.01	34.10	36.92
Days Inventory Outstanding (DIO)	21.63	21.32	18.85	20.22	19.25	17.93	16.82	15.91	16.29	14.89	14.55
Days Payable Outstanding (DPO)	26.78	17.75	24.33	28.40	25.69	19.04	26.10	26.52	24.96	20.11	24.80
Cash Conversion Cycle (CCC)	30.23	37.30	32.89	31.71	31.86	34.18	30.91	30.00	30.34	28.87	26.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	109	106	115	119	117	117	128	123	143	140	142
Invested Capital Turnover	1.85	1.96	2.07	1.80	1.90	2.01	1.91	1.99	1.96	2.11	2.12
Increase / (Decrease) in Invested Capital	34	26	43	9.50	8.58	11	12	4.03	25	23	15
Enterprise Value (EV)	258	295	365	255	278	298	281	256	272	281	354
Market Capitalization	258	302	365	254	285	312	288	273	263	282	356
Book Value per Share	$2.83	$2.96	$3.00	$3.07	$3.22	$3.37	$3.41	$3.54	$3.44	$3.72	$3.73
Tangible Book Value per Share	$2.04	$2.17	$2.22	$2.20	$2.35	$2.51	$2.55	$2.68	$1.90	$2.14	$2.17
Total Capital	119	121	123	131	131	137	141	146	157	156	155
Total Debt	9.93	7.07	6.50	9.49	4.46	4.00	3.92	4.29	21	12	9.21
Total Long-Term Debt	8.10	6.00	5.91	8.72	3.65	3.59	3.53	3.47	20	11	8.33
Net Debt	-0.15	-7.45	-0.81	-1.11	-8.68	-16	-9.03	-19	7.22	-3.91	-3.35
Capital Expenditures (CapEx)	7.05	7.49	5.37	8.17	4.97	9.95	8.53	1.73	5.97	7.61	5.49
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3.94	-5.52	1.79	3.67	-1.08	-1.58	3.86	-1.18	-3.78	-4.97	0.21
Debt-free Net Working Capital (DFNWC)	6.14	7.32	9.10	14	12	16	14	19	7.35	8.53	9.98
Net Working Capital (NWC)	4.31	6.24	8.50	13	11	16	14	18	5.79	7.44	9.11
Net Nonoperating Expense (NNE)	-0.02	0.15	0.06	0.90	0.09	0.10	0.13	0.09	0.36	0.26	0.21
Net Nonoperating Obligations (NNO)	-0.15	-7.45	-0.81	-2.11	-9.55	-16	-9.03	-19	7.22	-3.91	-3.35
Total Depreciation and Amortization (D&A)	5.98	5.92	6.29	6.31	6.46	6.42	6.65	6.92	7.60	7.68	7.69
Debt-free, Cash-free Net Working Capital to Revenue	-2.32%	-3.02%	0.92%	1.78%	-0.50%	-0.70%	1.66%	-0.49%	-1.48%	-1.84%	0.07%
Debt-free Net Working Capital to Revenue	3.62%	4.00%	4.69%	6.94%	5.63%	7.12%	6.02%	7.82%	2.88%	3.15%	3.48%
Net Working Capital to Revenue	2.54%	3.41%	4.38%	6.56%	5.25%	6.94%	5.86%	7.48%	2.27%	2.75%	3.18%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.08	$0.09	$0.04	$0.04	$0.10	$0.11	$0.07	$0.08	$0.09	$0.14	$0.07
Adjusted Weighted Average Basic Shares Outstanding	38.44M	38.35M	38.72M	38.82M	38.87M	38.75M	39.43M	39.52M	38.64M	38.90M	38.43M
Adjusted Diluted Earnings per Share	$0.07	$0.08	$0.04	$0.04	$0.10	$0.10	$0.06	$0.08	$0.09	$0.14	$0.06
Adjusted Weighted Average Diluted Shares Outstanding	40.42M	40.38M	40.58M	40.55M	40.78M	40.81M	41.63M	41.08M	40.50M	40.82M	40.49M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	38.49M	38.76M	38.82M	38.83M	38.94M	39.52M	39.52M	38.79M	38.02M	38.60M	38.34M
Normalized Net Operating Profit after Tax (NOPAT)	3.09	3.81	1.83	2.02	3.66	4.53	1.09	2.92	4.29	6.29	3.16
Normalized NOPAT Margin	6.25%	7.51%	3.61%	3.68%	6.32%	7.46%	1.84%	4.63%	5.96%	8.26%	4.19%
Pre Tax Income Margin	8.58%	10.00%	4.19%	4.08%	9.48%	10.39%	6.19%	7.87%	7.14%	10.51%	5.29%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	21.88	0.00	0.00	0.00	14.20
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	15.88	0.00	0.00	0.00	9.57
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-25.78	0.00	0.00	0.00	-3.78
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-31.77	0.00	0.00	0.00	-8.41
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	0.00%	1.60%	2.30%	2.43%	3.56%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.32%	0.00%	13.25%	96.88%	88.44%	98.91%

Financials Breakdown Chart

Key Financial Trends

Viemed Healthcare (NASDAQ: VMD) showed a mixed but generally improving operating profile in Q1 2026, with strong revenue growth and solid operating cash flow, but weaker quarterly profitability and a notable step-up in leverage versus a year ago.

For the quarter ended March 31, 2026, revenue rose to $75.4 million, up from $59.1 million in Q1 2025 and $50.6 million in Q1 2024. That continued top-line expansion is a positive sign for a healthcare services company, especially since it came alongside gross profit of $42.8 million and operating income of $4.3 million.

However, profitability was down sharply from the immediately preceding quarter. Net income attributable to common shareholders was $2.6 million, compared with $5.6 million in Q4 2025. The drop was driven mainly by higher operating costs and expenses, with selling, general and administrative expense remaining the largest cost item at $34.8 million.

From a cash-flow perspective, the quarter was stronger than the income statement alone suggests. Viemed generated $8.1 million in operating cash flow in Q1 2026, which supports the business model and suggests reported earnings are still being converted into cash. That said, the company spent $6.7 million on capital expenditures, resulting in negative investing cash flow of $5.5 million.

The balance sheet showed a meaningful shift in the capital structure over the past year. Total debt increased to $9.2 million from $4.3 million in Q1 2025, while cash and equivalents fell to $9.8 million from $10.2 million a year earlier and from $20.0 million in Q2 2025. At the same time, total assets increased to $197.4 million and equity rose to $143.9 million, reflecting continued business growth.

Revenue growth remains strong with Q1 2026 revenue of $75.4 million, well above $59.1 million in Q1 2025.
Operating cash flow was healthy at $8.1 million, showing the business is still producing cash.
Operating income stayed positive at $4.3 million despite higher costs.
Gross profit improved in absolute dollars to $42.8 million, supported by a larger revenue base.
Equity increased year over year to $143.9 million from $134.8 million in Q1 2025.
Capital spending remained elevated at $6.7 million, indicating continued investment in the business.
Accounts receivable rose to $31.2 million, which is worth watching for collection trends.
Cash declined sequentially from $20.0 million in Q2 2025 to $9.8 million in Q1 2026.
Noncontrolling interest remains material at $1.9 million, which slightly reduces earnings attributable to common shareholders.
Quarterly net income fell sharply to $2.7 million from $5.8 million in Q4 2025.
Debt increased materially to $9.2 million from $4.3 million a year earlier.
Operating assets and liabilities were a cash drag in the quarter, reducing operating cash flow by $5.1 million.

Bottom line: Viemed Healthcare is still growing revenue and generating positive cash flow, but the first quarter of 2026 showed some margin pressure and a higher debt load. For investors, the key question is whether management can keep revenue growing while stabilizing expenses and preserving cash.

07/21/26 07:23 AM ETAI Generated. May Contain Errors.

Viemed Healthcare Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Viemed Healthcare's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Viemed Healthcare's net income were at $15.38 million at the end of 2025, a 34.8% increase from 2024, and a 61.7% increase since 2018. See Viemed Healthcare's forecast for analyst expectations on what's next for the company.

Viemed Healthcare's total operating income in 2025 was $22.95 million, based on the following breakdown:

Total Gross Profit: $155.46 million
Total Operating Expenses: $132.76 million

Over the last 7 years, Viemed Healthcare's total revenue changed from $64.46 million in 2018 to $270.28 million in 2025, a change of 319.3%.

Viemed Healthcare's total liabilities were at $55.63 million at the end of 2025, a 27.1% increase from 2024, and a 163.9% increase since 2018.

In the past 7 years, Viemed Healthcare's cash and equivalents has ranged from $10.41 million in 2018 to $30.98 million in 2020, and is currently $13.50 million as of their latest financial filing in 2025.

Over the last 7 years, Viemed Healthcare's book value per share changed from 0.86 in 2018 to 3.72 in 2025, a change of 333.1%.

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Financial statements for NASDAQ:VMD last updated on 7/2/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Viemed Healthcare (VMD) Financials

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Viemed Healthcare (VMD) Financials

Annual Income Statements for Viemed Healthcare

Quarterly Income Statements for Viemed Healthcare

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Quarterly Cash Flow Statements for Viemed Healthcare

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Quarterly Balance Sheets for Viemed Healthcare

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Quarterly Metrics And Ratios for Viemed Healthcare

Financials Breakdown Chart

Key Financial Trends

Viemed Healthcare Financials - Frequently Asked Questions

When does Viemed Healthcare's fiscal year end?

How has Viemed Healthcare's net income changed over the last 7 years?

What is Viemed Healthcare's operating income?

How has Viemed Healthcare's revenue changed over the last 7 years?

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How has Viemed Healthcare's book value per share changed over the last 7 years?

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