2 models fit Viemed Healthcare Inc. Common Shares and they disagree: 0 of 2 land within 15% of the average. The price is below every model.
Two or more of our models back this value.
Discount(i)Silver72
Valued as a growth company: Discounted cash flow, P/E comparison, and EV/EBITDA comparison.
ACCE opinionViemed Healthcare Inc. Common Shares (VMD)
Fair value (2 models)
$12.36
ACCE price target
$10.50
Rating
Undervalued
Horizon
12 months
Fair value published on 11 Oct 2026, 00:00 CEST; previously $10.88 since 7 Oct 2026, 00:00 CEST.
ACCE price target published on 15 Oct 2026, 00:00 CEST.
Rating published on 20 Oct 2026, 16:04 CEST.
Price used: $9.80 at the close on 23 Oct 2026, 22:00 CEST.
Models: Discounted cash flow, EV/EBITDA comparison, and P/E comparison.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
20.7% below
+26.1% to fair value
ACCE score
64
out of 100
Analysts
50% buy
2 covering
P/E
26.8x
forward 18.3x
1-year return
+43.5%
Dividend yield
0.00%
Viemed Healthcare Inc. Common Shares in four questions
Plain answers, details below
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Overview
ACCE thesis
Viemed Healthcare rents and services home ventilators, oxygen concentrators and sleep therapy devices, and runs the respiratory therapy staffing that goes with them, mostly to Medicare patients with chronic lung disease. The moat is less the equipment than the reimbursement and clinical infrastructure: payer contracts, a patient base that stays on rental for years, and a service footprint that is hard to replicate quickly. Revenue growth of 23.9% is the number that matters, and the near-term question is whether that growth carries through to operating income, since the 6.5% operating margin is thin for a business with a 57.5% gross margin. At 18.3x forward earnings against 26.4x trailing, the market is pricing in the earnings catch-up, so the thesis rests on margin expansion from the existing fleet and service volumes rather than new capital. With a 10.4% ROE and no index membership at a $371M market cap, the name sits in the coverage gap where mispricing is more likely, which earns it a deeper look on the margin trajectory.
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
moderate
Earnings declining despite revenue growth
Revenue rose 23.9% year over year, but earnings fell 12.4%, so growth is not reaching the bottom line. Operating margin of 6.5% and net margin of 4.8% leave little room for further squeeze.
moderate
Insider selling with no buying
Insiders sold $2.53M across the last 10 disclosed transactions and bought nothing. Insiders hold 13.9% of shares, so the selling is worth tracking.
AI research notes
AI-assisted·How I use AIWritten Oct 13, 2026 · figures from 2026-06-30 · prices to Oct 23, 2026
Why it could do well
Revenue grew 23.9% year over year, well above its 15.5% average annual pace over the past five years.
The stock trades at 18.3x forward earnings, below the sector median of 23.6x, and consensus fair value sits 28.7% above the $9.60 price.
Debt is light at 0.11 times equity, and free cash flow over the last twelve months reached $12M.
Why it could disappoint
Earnings missed expectations last quarter, with EPS of $0.07 against $0.10 expected, a 30.0% shortfall.
Returns are thin: a 4.8% net margin, 10.4% return on equity and 7.8% return on invested capital leave little room for error.
The trailing P/E of 26.4x is well above the forward multiple, and only 2 of 3 valuation models support the fair value estimate.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.
Next results
Nov 4, 2026
We update the fair value about 2 days after the results, once the new figures are filed.Add to calendarGoogle
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Valuation
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Where VMD's valuation models land
Price
$9.80
Model fair value
$12.36
Model range
$9.95 to $14.77
Fair value $12.36
Price $9.80
The price is below the whole model range.
Model
Fair value
Upside
Discounted cash flow
EV/EBITDA comparison
P/E comparison
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Quality
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