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 $2.9B against $1.6B — 1.8× the size. Azenta, Inc. has negative trailing earnings, so its P/E is not meaningful; AtriCure, Inc. trades at 259×. 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 258.96 n/m 33.75
P/S 4.79 2.52 2.52
P/B 5.29 1.02 2.48
Price to free cash flow 118.10 156.24 25.19
EV/EBITDA 77.60 45.05 14.62
EV/Sales 4.66 2.06 2.88
Earnings yield 0.39% (8.07%) (2.67%)
Free cash flow yield 0.85% 0.64% 0.09%

Profitability

Metric ATRC AZTA Medical Instruments & Supplies median
Gross margin 76.30% 44.05% 54.29%
Operating margin 2.26% (28.56%) 1.07%
Net margin 1.85% (20.02%) (1.61%)
Free cash flow margin 9.32% 1.61% 1.08%
Return on equity 2.15% (7.72%) (1.32%)
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% 8.85%
EPS growth (last fiscal year) 74.74% 57.93% 8.65%
Revenue growth, 5-year CAGR 20.95% 8.85% 9.17%
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 0.10
Current ratio 4.22 2.50 2.48
Net debt to EBITDA (9.13) (10.47) 0.89

Dividend

Metric ATRC AZTA Medical Instruments & Supplies median
Dividend yield — — 1.11%
Payout ratio — — 0.27

Size

Metric ATRC AZTA Medical Instruments & Supplies median
Market cap 2.94b 1.60b 619.84m

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