AtriCure, Inc. (ATRC) vs Azenta, Inc. (AZTA)

AtriCure, Inc. and Azenta, Inc. are both Medical Instruments & Supplies companies. AtriCure, Inc. is the larger, with a market value of $3.1B against $1.5B — 2.1× the size. Azenta, Inc. has negative trailing earnings, so its P/E is not meaningful; AtriCure, Inc. trades at 270×. AtriCure, Inc. grew revenue faster over the last twelve months: 13.9% against 4.80%. AtriCure, Inc. has the higher net margin (1.85% vs −20.0%) and the higher return on invested capital (1.92% vs −9.27%). Across the 20 metrics below, AtriCure, Inc. leads on 14 and Azenta, Inc. on 6.

Valuation

Metric ATRC AZTA Medical Instruments & Supplies median
P/E 269.53 n/m 34.17
P/S 4.99 2.51 2.83
P/B 5.50 1.02 2.82
Price to free cash flow 122.92 155.92 25.69
EV/EBITDA 80.33 45.72 16.08
EV/Sales 4.82 2.09 3.06
Earnings yield 0.37% (8.08%) (1.84%)
Free cash flow yield 0.81% 0.64% 0.17%

Profitability

Metric ATRC AZTA Medical Instruments & Supplies median
Gross margin 76.30% 44.05% 54.62%
Operating margin 2.26% (28.56%) 1.64%
Net margin 1.85% (20.02%) 0.00%
Free cash flow margin 9.32% 1.61% 1.61%
Return on equity 2.15% (7.72%) 0.00%
Return on assets 1.64% (6.31%) 0.00%
Return on invested capital 1.92% (9.27%) 0.00%

Growth

Metric ATRC AZTA Medical Instruments & Supplies median
Revenue growth (TTM) 13.94% 4.80% 9.20%
EPS growth (last fiscal year) 74.74% 57.93% —
Revenue growth, 5-year CAGR 20.95% 8.85% 9.48%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ATRC AZTA Medical Instruments & Supplies median
Debt to equity 0.14 0.00 0.08
Current ratio 4.22 2.50 2.49
Net debt to EBITDA (9.13) (10.47) 0.83

Dividend

Metric ATRC AZTA Medical Instruments & Supplies median
Dividend yield — 0.55% 0.99%
Payout ratio 0.00 0.00 0.00

Size

Metric ATRC AZTA Medical Instruments & Supplies median
Market cap 3.09b 1.50b 938.39m

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