AtriCure, Inc. (ATRC) vs ICU Medical, Inc. (ICUI)

AtriCure, Inc. and ICU Medical, Inc. are both Medical Instruments & Supplies companies. ICU Medical, Inc. is the larger, with a market value of $4.2B against $2.9B — 1.4× the size. ICU Medical, Inc. trades at the lower P/E: 136× against 259×. AtriCure, Inc. grew revenue faster over the last twelve months: 13.9% against −8.97%. AtriCure, Inc. has the higher net margin (1.85% vs 1.39%) and the higher return on invested capital (1.92% vs 1.46%). Across the 22 metrics below, AtriCure, Inc. leads on 12 and ICU Medical, Inc. on 10.

Valuation

Metric ATRC ICUI Medical Instruments & Supplies median
P/E 258.96 135.83 33.75
P/S 4.79 1.89 2.52
P/B 5.29 1.89 2.48
Price to free cash flow 118.10 26.65 25.19
EV/EBITDA 77.60 18.04 14.62
EV/Sales 4.66 2.32 2.88
Earnings yield 0.39% 0.74% (2.67%)
Free cash flow yield 0.85% 3.75% 0.09%

Profitability

Metric ATRC ICUI Medical Instruments & Supplies median
Gross margin 76.30% 39.13% 54.29%
Operating margin 2.26% 3.34% 1.07%
Net margin 1.85% 1.39% (1.61%)
Free cash flow margin 9.32% 7.08% 1.08%
Return on equity 2.15% 1.41% (1.32%)
Return on assets 1.64% 0.74% 0.00%
Return on invested capital 1.92% 1.46% 0.00%

Growth

Metric ATRC ICUI Medical Instruments & Supplies median
Revenue growth (TTM) 13.94% (8.97%) 8.85%
EPS growth (last fiscal year) 74.74% 100.62% 8.65%
Revenue growth, 5-year CAGR 20.95% 11.91% 9.17%
Net income growth, 5-year CAGR 0.00% (61.53%) 0.00%

Health

Metric ATRC ICUI Medical Instruments & Supplies median
Debt to equity 0.14 0.57 0.10
Current ratio 4.22 2.43 2.48
Net debt to EBITDA (9.13) 3.91 0.89

Dividend

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

Size

Metric ATRC ICUI Medical Instruments & Supplies median
Market cap 2.94b 4.18b 619.84m

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