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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. In the quarter to June 2026, revenue grew 12.8%, EPS grew 238.5%, free cash flow fell 2.79% and total debt fell 4.43%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.

56.09 1.69 −2.92%
Market cap
$2.9B
P/E
259×
Fwd P/E
591×
Dividend yield
—
F-score
7/9
Altman Z
7.31
Beneish M
−2.91
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 4.37
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 3 — — — 1 — 2 — 3 3 4 —
Insider Ownership 0.00%

Capital & Financial Ratios $m

Market Cap 2,940.00
Revenue 569.62
Net Income 10.55
Free Cash Flow 53.11
Net Debt (96.74)
Current Ratio 4.22 (at or above 1.5: strong)
Debt/Equity 0.14 (at or below 0.5: strong)
P/E ratio 258.96 (above 35: high)
Fwd P/E 591.00 (above 35: high)
P/S ratio 4.79
P/B ratio 5.29
Past 5Y EPS Growth —
This Y EPS Growth 145.15% (at or above 15%: strong)
Next Y EPS Growth 288.17% (at or above 15%: strong)
Next Y revenue growth 13.43% (at or above 10%: strong)
Next 5Y EPS Growth 62.27% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.7×, 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 52.41%
10-year low 10-year high
P/B against its own 10 years 77.07%
10-year low 10-year high
EV/Sales against its own 10 years 52.45%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 137 123 167 168
Receivables 53 60 67 80
Inventory 68 75 78 84
Other — — — —
266 268 323 346
2023 2024 2025 Q'26
Payables 27 25 25 36
ST’ Debt — — — —
Other — 3 3 3
75 73 82 82

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%

Revenue $m

Mar Jun Sep Dec Year
’26 141 154 — — —
’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 — — —
’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.

EPS $

Mar Jun Sep Dec Year
’26 0.00 0.18 — — —
’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.

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 13.44 14.78 14.88 22.57 23.17 52.54 32.51 32.27 18.94 28.29

Analyst estimates 2026–2028

Powerpack
High 22.42 25.18 36.49 33.92 58.03 89.18 72.31 59.61 39.05 43.11
People
People Employees 500 570 620 730 750 875 1,050 1,200 1,300 330
Revenue/emp, $m 0.31 0.31 0.33 0.32 0.28 0.31 0.31 0.33 0.36 1.62
Income, $m
Income, $m Revenue 155 175 202 231 207 274 330 399 465 535
Gross margin, % 71.63 72.21 72.97 73.80 72.29 75.04 74.44 75.23 74.69 74.98
EBT (33) (27) (21) (35) (48) 50 (46) (30) (44) (10)
EBT margin, % (21.47) (15.38) (10.37) (15.16) (23.26) 18.37 (13.98) (7.48) (9.39) (1.90)
Net income (33) (27) (21) (35) (48) 50 (46) (30) (45) (11)
Depreciation 10 9 9 9 11 96 14 16 19 21
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
Earnings (1.05) (0.83) (0.62) (0.94) (1.14) 1.11 (1.02) (0.66) (0.95) (0.24)
Cash flow (0.48) (0.28) (0.12) (0.42) (0.47) (0.31) (0.48) 0.10 0.26 1.20
Capex (0.24) (0.20) (0.18) (0.32) (0.12) (0.22) (0.37) (0.26) (0.24) (0.19)
Free cash flow (0.72) (0.47) (0.30) (0.74) (0.60) (0.52) (0.85) (0.16) 0.02 1.01
Book value 5.33 4.98 7.32 6.58 9.79 10.73 9.99 10.07 9.82 10.30
Shares, m 32 32 34 38 42 45 46 46 47 48
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 62.64 0.00 0.00 0.00 0.00
P/S 3.91 3.42 5.17 5.29 11.35 11.42 6.21 4.10 3.08 3.53
P/B 3.60 3.71 4.18 4.94 5.69 6.48 4.49 3.51 3.11 3.84
EV/Sales 3.89 3.45 4.81 5.26 10.49 11.25 6.06 3.96 3.00 3.40
EV/FCF (26.42) (39.35) (93.38) (43.42) (86.24) (131.13) (51.29) (42.11) (47.73) 99.30
Cash, $m
Cash, $m Operating cash flow (15) (9) (4) (16) (20) (14) (22) 4 12 57
Capex (8) (6) (6) (12) (5) (10) (17) (12) (11) (9)
Free cash flow (23) (15) (10) (28) (25) (24) (39) (8) 1 48
Balance, $m
Balance, $m Working capital 57 50 134 93 258 140 157 192 194 241
Total debt 39 37 52 74 66 72 71 61 62 62
Net debt (5) 3 (72) (8) (178) (48) (50) (77) (61) (106)
Shareholders’ equity 168 161 249 247 412 484 457 466 461 492
Returns, %
Returns, % ROA (12.13) (9.88) (6.77) (7.70) (7.57) 7.55 (7.74) (5.08) (7.31) (1.81)
ROIC (11.92) (9.51) (6.03) (8.66) (11.80) 7.91 (6.55) (4.28) (6.25) (1.53)
ROE (18.78) (16.32) (10.30) (14.17) (14.60) 11.20 (9.88) (6.60) (9.64) (2.40)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

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
STVN Stevanato Group S.p.A. $5.3B 33.8× 27.5× +10.46% (above 0%: growing) −25.00% (below 0%: shrinking) −167.02% (below 0%: shrinking) 28.75% 12.93% Compare
ICUI ICU Medical, Inc. $4.2B 136× 49.5× +0.51% (above 0%: growing) −46.85% (below 0%: shrinking) +655.98% (above 0%: growing) 42.61% 7.09% Compare
NVST Envista Holdings Corporation $3.8B 38.8× 24.4× +7.10% (above 0%: growing) +106.25% (above 0%: growing) +37.57% (above 0%: growing) 55.72% 10.99% Compare
PLSE Pulse Biosciences, Inc $3.3B — (loss-making) — (loss-making) +4,922.22% (above 0%: growing) n/m −45.39% (below 0%: shrinking) 37.10% (5,823.04%) Compare
WRBY Warby Parker Inc. $3.0B 334× 122× +9.81% (above 0%: growing) n/m −71.75% (below 0%: shrinking) 57.94% 1.34% Compare
ATRC AtriCure, Inc. $2.9B 259× 591× +12.83% (above 0%: growing) n/m −2.79% (below 0%: shrinking) 77.23% 6.29%
LMAT LeMaitre Vascular, Inc. $1.9B 27.9× 31.5× +9.57% (above 0%: growing) +22.95% (above 0%: growing) −27.95% (below 0%: shrinking) 72.13% 28.98% Compare
XRAY DENTSPLY SIRONA Inc. $1.8B — (loss-making) 27.0× −4.06% (below 0%: shrinking) n/m +252.94% (above 0%: growing) 54.90% 9.13% Compare
KMTS Kestra Medical Technologies, Ltd. $1.7B — (loss-making) — (loss-making) +59.88% (above 0%: growing) n/m −17.75% (below 0%: shrinking) 56.50% (121.59%) Compare
Median of peers $3.2B 38.8× 29.5× +9.69% −1.02% −22.85% 55.31% 8.11%

All 55 Medical Instruments & Supplies stocks →

AtriCure, Inc. (ATRC) key facts

  • Strength: AtriCure, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $534.5 million, up 14.9% from fiscal 2024.
  • AtriCure, Inc. (ATRC) is a Medical Instruments & Supplies company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, ATRC traded at $56.09, a market capitalization of $2.9 billion.
  • Return on equity was −2.40% and debt-to-equity 0.14.
  • Its Piotroski F-score is 7 out of 9 and its Altman Z-score is 7.31 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

AtriCure, Inc. (ATRC) Latest News

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stockrow.com/ATRC · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com