AtriCure, Inc. (ATRC) Financial Ratios
22 years of historical data (2004–2025) · Healthcare · Medical - Instruments & Supplies
EV/EBITDA
↑
80.71
+4% vs avg
5yr avg: 77.59
30Y Low49.3·High49.3
P/FCF
30.20
↓-23% vs avg
5yr avg: 39.12
30Y Low39.1·High39.1
P/B Ratio
↓
2.80
↓-35% vs avg
5yr avg: 4.31
30Y Low1.1·High11.1
ROE
↓
-2.4%
↓+31% vs avg
5yr avg: -3.5%
30Y Low-160%·High11%
Debt/EBITDA
↑
5.15
↑+63% vs avg
5yr avg: 3.15
30Y Low1.2·High5.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ATRC Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
AtriCure, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 30.2x P/FCF, 23% below the 5-year average of 39.1x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.5B | $1.9B | $1.4B | $1.7B | $2.0B | $3.2B | $2.3B | $1.2B | $1.0B | $591M | $619M |
| Enterprise Value | $1.4B | $1.8B | $1.4B | $1.6B | $2.0B | $3.2B | $2.4B | $1.3B | $1.1B | $606M | $633M |
| P/E Ratio → | -120.00 | — | — | — | — | 63.79 | — | — | — | — | — |
| P/S Ratio | 2.73 | 3.53 | 3.08 | 4.14 | 6.14 | 11.67 | 11.35 | 5.29 | 5.17 | 3.38 | 3.99 |
| P/B Ratio | 2.80 | 3.84 | 3.11 | 3.55 | 4.44 | 6.62 | 5.69 | 4.94 | 4.18 | 3.67 | 3.67 |
| P/FCF | 30.20 | 39.12 | — | — | — | — | — | — | — | — | — |
| P/OCF | 25.43 | 32.95 | 117.60 | 368.59 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
ATRC EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
AtriCure, Inc.'s enterprise value stands at 80.7x EBITDA, roughly in line with its 5-year average of 77.6x. The Healthcare sector median is 14.2x, placing the stock at a 468% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.39 | 2.99 | 4.12 | 6.19 | 11.79 | 11.51 | 5.50 | 5.27 | 3.47 | 4.08 |
| EV / EBITDA | 80.71 | 105.92 | — | — | — | 49.25 | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | 58.46 | — | — | — | — | — |
| EV / FCF | — | 37.48 | — | — | — | — | — | — | — | — | — |
ATRC Profitability
Margins and return-on-capital ratios measuring operating efficiency
AtriCure, Inc. earns an operating margin of -0.6%. Operating margins have expanded from -6.7% to -0.6% over the past 3 years, signaling improving operational efficiency. A negative ROE of -2.4% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.4% | 74.4% | 74.7% | 75.2% | 74.4% | 75.0% | 72.3% | 73.8% | 73.0% | 72.2% | 71.6% |
| Operating Margin | -0.6% | -0.6% | -8.6% | -6.7% | -12.9% | 20.1% | -21.4% | -14.4% | -8.5% | -14.3% | -20.1% |
| Net Profit Margin | -2.1% | -2.1% | -9.6% | -7.6% | -14.1% | 18.3% | -23.3% | -15.2% | -10.5% | -15.4% | -21.5% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.4% | -2.4% | -9.6% | -6.6% | -9.9% | 11.2% | -14.6% | -14.2% | -10.3% | -16.3% | -18.8% |
| ROA | -1.8% | -1.8% | -7.3% | -5.1% | -7.7% | 7.5% | -7.6% | -7.7% | -6.8% | -9.9% | -12.1% |
| ROIC | -0.6% | -0.6% | -6.9% | -4.3% | -6.5% | 8.6% | -9.0% | -8.8% | -5.8% | -10.4% | -13.0% |
| ROCE | -0.6% | -0.6% | -7.4% | -5.0% | -7.9% | 9.0% | -7.5% | -8.0% | -6.2% | -10.3% | -12.7% |
ATRC Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
AtriCure, Inc. carries a Debt/EBITDA ratio of 5.2x, which is highly leveraged (60% above the sector average of 3.2x). The company holds a net cash position — cash of $167M exceeds total debt of $88M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.18 | 0.18 | 0.17 | 0.16 | 0.16 | 0.16 | 0.18 | 0.31 | 0.21 | 0.23 | 0.23 |
| Debt / EBITDA | 5.15 | 5.15 | — | — | — | 1.15 | — | — | — | — | — |
| Net Debt / Equity | — | -0.16 | -0.10 | -0.02 | 0.04 | 0.07 | 0.08 | 0.19 | 0.08 | 0.10 | 0.09 |
| Net Debt / EBITDA | -4.65 | -4.65 | — | — | — | 0.49 | — | — | — | — | — |
| Debt / FCF | — | -1.64 | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -0.73 | -0.73 | -5.82 | -3.31 | -8.27 | 11.25 | -8.83 | -7.51 | -3.54 | -10.87 | -17.49 |
Net cash position: cash ($167M) exceeds total debt ($88M)
ATRC Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
AtriCure, Inc.'s current ratio of 3.96x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.99x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 3.57x to 3.96x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.96 | 3.96 | 3.65 | 3.57 | 3.69 | 3.47 | 6.24 | 2.87 | 4.34 | 2.58 | 2.97 |
| Quick Ratio | 2.99 | 2.99 | 2.62 | 2.66 | 2.90 | 2.78 | 5.53 | 2.28 | 3.78 | 1.87 | 2.36 |
| Cash Ratio | 2.05 | 2.05 | 1.67 | 1.84 | 2.07 | 2.11 | 4.97 | 1.64 | 3.09 | 1.08 | 1.53 |
| Asset Turnover | — | 0.82 | 0.76 | 0.65 | 0.56 | 0.45 | 0.29 | 0.41 | 0.57 | 0.65 | 0.56 |
| Inventory Turnover | 1.74 | 1.74 | 1.56 | 1.46 | 1.84 | 1.76 | 1.63 | 2.06 | 2.42 | 2.16 | 2.49 |
| Days Sales Outstanding | — | 45.51 | 47.33 | 48.00 | 47.17 | 43.94 | 40.91 | 44.35 | 45.61 | 48.22 | 49.64 |
ATRC Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
AtriCure, Inc. returns 0.8% to shareholders annually primarily through share buybacks.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 1.6% | — | — | — | — | — |
| FCF Yield | 3.3% | 2.6% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.8% | 0.6% | 0.5% | 0.4% | 0.6% | 0.6% | 0.6% | 0.7% | 0.4% | 0.3% | 0.3% |
| Total Shareholder Yield | 0.8% | 0.6% | 0.5% | 0.4% | 0.6% | 0.6% | 0.6% | 0.7% | 0.4% | 0.3% | 0.3% |
| Shares Outstanding | — | $48M | $47M | $46M | $46M | $46M | $42M | $38M | $34M | $32M | $32M |
Peer Comparison
Compare ATRC with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ATRCYou | $1B | -120.0 | 80.7 | 30.2 | 74.4% | -0.6% | -2.4% | -0.6% | 5.2 |
 NVCR | $2B | -11.7 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 IRTC | $3B | -75.3 | — | 99.6 | 70.6% | -4.9% | -36.6% | -5.2% | — |
 BEAT | $26M | -1.2 | — | — | — | — | -987.3% | — | — |
 ABT | $154B | 11.6 | 16.1 | 24.2 | 50.8% | 16.3% | 30.9% | 9.9% | 1.5 |
 MDT | $102B | 22.0 | 14.5 | 19.6 | 65.3% | 17.8% | 9.4% | 6.0% | 3.2 |
 BSX | $67B | 23.3 | 20.8 | 18.4 | 69.0% | 19.8% | 12.4% | 8.8% | 3.3 |
 JNJ | $550B | 39.4 | 19.1 | 27.7 | 69.1% | 24.9% | 20.1% | 20.7% | 1.2 |
 EW | $50B | 47.7 | 26.8 | 37.7 | 78.1% | 27.0% | 10.5% | 15.5% | 0.4 |
 HOLX | $17B | 30.5 | 17.4 | 18.4 | 61.0% | 17.4% | 11.1% | 9.4% | 2.6 |
 SYK | $118B | 36.6 | 21.2 | 27.5 | 64.0% | 19.5% | 15.1% | 11.4% | 2.4 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 22 years · Updated daily
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ATRC — Frequently Asked Questions
Quick answers to the most common questions about buying ATRC stock.
What is AtriCure, Inc.'s P/E ratio?
AtriCure, Inc.'s current P/E ratio is -120.0x. The historical average is 63.8x.
What is AtriCure, Inc.'s EV/EBITDA?
AtriCure, Inc.'s current EV/EBITDA is 80.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 49.3x.
What is AtriCure, Inc.'s ROE?
AtriCure, Inc.'s return on equity (ROE) is -2.4%. The historical average is -28.3%.
Is ATRC stock overvalued?
Based on historical data, AtriCure, Inc. is trading at a P/E of -120.0x. Compare with industry peers and growth rates for a complete picture.
What are AtriCure, Inc.'s profit margins?
AtriCure, Inc. has 74.4% gross margin and -0.6% operating margin.
How much debt does AtriCure, Inc. have?
AtriCure, Inc.'s Debt/EBITDA ratio is 5.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.