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AtriCure, Inc.

ATRC Healthcare Medical Instruments & Supplies

AtriCure, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $534.5 million, up 14.9% from fiscal 2024.

Revenue
+15.0%
EPS
+1,583.9%
Free cash flow
−0.73%
Total debt
−17.3%

Quarter to September 2026, against a year earlier

60.70 4.83 −7.37%
Market cap
$3.1B
P/E
199×
Fwd P/E
573×
Dividend yield
—
F-score
7/9
Altman Z
7.31
Beneish M
−2.91
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 4.24
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — 2 — 3 3 4 — 1
Insider Ownership 0.05%

Capital & Financial Ratios $m

Size
Market Cap 3,120.00
Revenue ttm 589.80
Net income ttm 14.88
Free cash flow ttm 52.94
Net debt Q (126.03)
Valuation
P/E 198.82 (above 35: high)
Forward P/E 573.00 (above 35: high)
Price / sales 5.03
Forward P/S Powerpack
Price / FCF 129.39
Price / book 5.57
Financial health
Current ratio Q 4.33 (at or above 1.5: strong)
Debt / equity Q 0.11 (at or below 0.5: strong)
Interest coverage Q 2.70
Growth
Revenue growth Q +15.03% (above 0%: growing)
Operating income growth Q +1,992.79% (above 0%: growing)
EPS, this year +196.13% (at or above 15%: strong)
EPS, next year A +104.28% (at or above 15%: strong)
Revenue, next year A +13.43% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +62.27% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.9×, against a ten-year median of 4.5×; over the ten years it ranged from 2.3× in 2026 to 15.4× in 2021.
P/S against its own 10 years 55.81%
10-year low 10-year high
P/B against its own 10 years 78.80%
10-year low 10-year high
EV/Sales against its own 10 years 55.12%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 137 123 167 187
Receivables 53 60 67 76
Inventory 68 75 78 87
Other — — — —
266 268 323 363
2023 2024 2025 Q'26
Payables 27 25 25 80
ST’ Debt — — — —
Other — 3 3 4
75 73 82 84

Compound Annual Growth %

10y 5y 3y
Sales 15.21% 20.95% 17.40%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 10.17% 3.59% 2.50%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.01 Actual 0.17

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.02 0.06 Beat by 0.08
Q1 FY26 −0.07 0.00 Beat by 0.07
Q2 FY26 0.03 0.18 Beat by 0.15
Q3 FY26 0.01 0.17 Beat by 0.16
Q4 FY26 0.10 — Reports 16 February 2027

EPS $

Mar Jun Sep Dec Year
’26 0.00 0.18 0.08 — —
’25 (0.14) (0.13) (0.01) 0.04 (0.24)
’24 (0.28) (0.17) (0.17) (0.33) (0.95)
’23 (0.14) (0.11) (0.20) (0.21) (0.66)
’22 (0.33) (0.32) (0.27) (0.09) (1.02)
’21 (0.38) (0.36) 2.11 (0.30) 1.09
’20 (0.42) (0.20) (0.11) (0.42) (1.14)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 141 154 154 — —
’25 124 136 134 141 535
’24 109 116 116 124 465
’23 93 101 98 107 399
’22 75 85 83 88 330
’21 59 71 70 73 274
’20 53 41 55 58 207
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (4) 22 — — —
’25 (11) 22 27 20 57
’24 (21) 7 20 6 12
’23 (4) 3 2 4 4
’22 (25) 4 (2) 0 (22)
’21 (9) (5) 0 0 (14)
’20 (16) (12) 4 4 (20)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (8) 18 24 — —
’25 (13) 19 24 18 48
’24 (24) 5 16 3 1
’23 (7) (30) (2) 1 (8)
’22 (28) 0 (7) (4) (39)
’21 (11) (9) (2) (2) (24)
’20 (18) (13) 3 3 (25)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 155 175 202 231 207 274 330 399 465 535 590 +14.7% 606 680 765 +12.7%
Gross margin, % 71.63 72.21 72.97 73.80 72.29 75.04 74.44 75.23 74.69 74.98 76.74 +3.3 pt
EBT (33) (27) (21) (35) (48) 50 (46) (30) (44) (10) 16 (12.4%)
EBT margin, % (21.47) (15.38) (10.37) (15.16) (23.26) 18.37 (13.98) (7.48) (9.39) (1.90) 2.75 +19.6 pt
Net income (33) (27) (21) (35) (48) 50 (46) (30) (45) (11) 15 (11.2%)
Per share, $
Per share, $ Revenue 4.91 5.39 5.92 6.14 4.90 6.09 7.22 8.62 9.91 11.19 12.06 +9.6%
Earnings (1.05) (0.83) (0.62) (0.94) (1.14) 1.11 (1.02) (0.66) (0.95) (0.24) 0.31 (15.1%)
Cash flow (0.48) (0.28) (0.12) (0.42) (0.47) (0.31) (0.48) 0.10 0.26 1.20 1.40 n/m
Capex (0.24) (0.20) (0.18) (0.32) (0.12) (0.22) (0.37) (0.26) (0.24) (0.19) (0.32) (2.7%)
Free cash flow (0.72) (0.47) (0.30) (0.74) (0.60) (0.52) (0.85) (0.16) 0.02 1.01 1.08 n/m
Book value 5.33 4.98 7.32 6.58 9.79 10.73 9.99 10.07 9.82 10.30 10.91 +7.6%
Shares, m 32 32 34 38 42 45 46 46 47 48 48 +4.7%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 62.64 0.00 0.00 0.00 0.00 198.82 6.3
P/S 3.91 3.42 5.17 5.29 11.35 11.42 6.21 4.10 3.08 3.53 5.03 5.8
P/B 3.60 3.71 4.18 4.94 5.69 6.48 4.49 3.51 3.11 3.84 5.57 4.4
EV/Sales 3.89 3.45 4.81 5.26 10.49 11.25 6.06 3.96 3.00 3.40 4.85 5.6
EV/FCF (26.42) (39.35) (93.38) (43.42) (86.24) (131.13) (51.29) (42.11) (47.73) 99.30 124.80 (46.2)
Cash, $m
Cash, $m Operating cash flow (15) (9) (4) (16) (20) (14) (22) 4 12 57 69 n/m
Capex (8) (6) (6) (12) (5) (10) (17) (12) (11) (9) (16) +1.8%
Free cash flow (23) (15) (10) (28) (25) (24) (39) (8) 1 48 53 n/m
Balance, $m
Balance, $m Working capital 57 50 134 93 258 140 157 192 194 241 279 +17.4%
Net debt (5) 3 (72) (8) (178) (48) (50) (77) (61) (106) (126) +40.0%
Shareholders’ equity 168 161 249 247 412 484 457 466 461 492 533 +12.6%
Returns, %
Returns, % ROA (12.13) (9.88) (6.77) (7.70) (7.57) 7.55 (7.74) (5.08) (7.31) (1.81) 2.20 +10.3 pt
ROIC (11.92) (9.51) (6.03) (8.66) (11.80) 7.91 (6.55) (4.28) (6.25) (1.53) 2.61 +10.4 pt
ROE (18.78) (16.32) (10.30) (14.17) (14.60) 11.20 (9.88) (6.60) (9.64) (2.40) 2.95 +16.4 pt
People
People Employees 500 570 620 730 750 875 1,050 1,200 1,300 330 — (4.5%)
Revenue/emp, $m 0.31 0.31 0.33 0.32 0.28 0.31 0.31 0.33 0.36 1.62 — +20.2%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

AtriCure, Inc. vs peers in Medical Instruments & Supplies (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
MMSI Merit Medical Systems, Inc. $5.4B 33.2× 30.7× +8.35% (above 0%: growing) +50.53% (above 0%: growing) +50.18% (above 0%: growing) 48.20% 14.12% Compare
MMED MiniMed Group, Inc. $5.1B — (loss-making) 27.8× — n/m −13.92% (below 0%: shrinking) 55.16% 0.47% Compare
ICUI ICU Medical, Inc. $4.2B 69.3× 48.8× +4.37% (above 0%: growing) n/m +292.20% (above 0%: growing) 41.89% 9.34% Compare
NVST Envista Holdings Corporation $4.0B 6.4× 21.5× +3.22% (above 0%: growing) n/m −6.48% (below 0%: shrinking) 57.93% 74.50% Compare
PLSE Pulse Biosciences, Inc $3.9B — (loss-making) — (loss-making) +359.30% (above 0%: growing) n/m −1,180.54% (below 0%: shrinking) 51.65% (6,149.87%) Compare
STVN Stevanato Group S.p.A. $3.6B 22.4× 30.2× +5.91% (above 0%: growing) +17.53% (above 0%: growing) +4,089.92% (above 0%: growing) 29.12% 18.51% Compare
WRBY Warby Parker Inc. $3.2B 434× 208× +10.40% (above 0%: growing) −20.00% (below 0%: shrinking) −30.28% (below 0%: shrinking) 54.41% 1.45% Compare
ATRC AtriCure, Inc. $3.1B 199× 573× +15.03% (above 0%: growing) n/m −0.73% (below 0%: shrinking) 77.27% 2.82%
XRAY DENTSPLY SIRONA Inc. $2.0B — (loss-making) 24.5× −7.52% (below 0%: shrinking) n/m −17.95% (below 0%: shrinking) 52.99% 4.43% Compare
Median of peers $3.9B 33.2× 30.2× +5.91% +17.53% −10.20% 52.32% 6.89%

All 53 Medical Instruments & Supplies stocks →

Pay and ownership Proxy statement filed 6 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 9.22m 14.94m 71.06
2024 11.07m 6.77m 54.89
2023 8.75m 4.76m 64.11
2022 8.35m 248.18k 79.72
2021 7.54m 13.12m 124.90

Ownership

Directors and executive officers, together 4.00%
Wellington Management Company, LLP 7.80%
BlackRock, Inc. 7.60%
AllianceBernstein L.P. 6.70%
Hood River Capital Management LLC 6.10%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

AtriCure, Inc. (ATRC) Latest News

5 Nov

Impact 3 · · Simply Wall St.

4 Nov

Impact 3 · · The Motley Fool transcript

3 Nov

Impact 3 · · MarketBeat
Impact 3 · · Zacks
Impact 3 · · Zacks
Impact 3 · · Associated Press
Impact 3 · · Business Wire

4 Oct

Impact 3 · · Simply Wall St.

25 Sep

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

11 Aug

Impact 4 · · MarketBeat

28 Jul

Impact 3 ·

24 Jul

Impact 4 · transcript

23 Jul

Impact 3 ·
Impact 3 · · MarketBeat
Impact 3 ·
Impact 3 ·

29 Jun

Impact 4 · · medtechdive.com

7 Jun

Impact 4 · · Simply Wall St.

4 Jun

Impact 4 · · Insider Monkey

12 May

Impact 4 · · MarketBeat

6 May

Impact 4 · · The Motley Fool transcript
Impact 4 · · Moby

5 May

Impact 4 · · Zacks
Impact 4 · · MarketBeat
Impact 4 · · Business Wire
Impact 3 · · Zacks
Impact 3 · · Insider Monkey

21 Mar

Impact 4 · · The Motley Fool
Impact 4 · · The Motley Fool

ATRC metrics, ten years each

stockrow.com/ATRC · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com