AtriCure, Inc. (ATRC) vs LeMaitre Vascular, Inc. (LMAT)

AtriCure, Inc. and LeMaitre Vascular, Inc. are both Medical Instruments & Supplies companies. AtriCure, Inc. is the larger, with a market value of $3.1B against $1.9B — 1.7× the size. LeMaitre Vascular, Inc. trades at the lower P/E: 28.1× against 270×. AtriCure, Inc. grew revenue faster over the last twelve months: 13.9% against 11.9%. LeMaitre Vascular, Inc. has the higher net margin (25.0% vs 1.85%) and the higher return on invested capital (22.7% vs 1.92%). Across the 22 metrics below, LeMaitre Vascular, Inc. leads on 14 and AtriCure, Inc. on 8.

Valuation

Metric ATRC LMAT Medical Instruments & Supplies median
P/E 269.53 28.11 34.17
P/S 4.99 7.10 2.83
P/B 5.50 4.43 2.82
Price to free cash flow 122.92 25.25 25.69
EV/EBITDA 80.33 18.70 16.08
EV/Sales 4.82 6.32 3.06
Earnings yield 0.37% 3.56% (1.84%)
Free cash flow yield 0.81% 3.96% 0.17%

Profitability

Metric ATRC LMAT Medical Instruments & Supplies median
Gross margin 76.30% 72.90% 54.62%
Operating margin 2.26% 29.46% 1.64%
Net margin 1.85% 25.02% 0.00%
Free cash flow margin 9.32% 28.13% 1.61%
Return on equity 2.15% 16.77% 0.00%
Return on assets 1.64% 10.78% 0.00%
Return on invested capital 1.92% 22.67% 0.00%

Growth

Metric ATRC LMAT Medical Instruments & Supplies median
Revenue growth (TTM) 13.94% 11.85% 9.20%
EPS growth (last fiscal year) 74.74% 30.57% —
Revenue growth, 5-year CAGR 20.95% 14.05% 9.48%
Net income growth, 5-year CAGR 0.00% 22.16% 0.00%

Health

Metric ATRC LMAT Medical Instruments & Supplies median
Debt to equity 0.14 0.40 0.08
Current ratio 4.22 16.31 2.49
Net debt to EBITDA (9.13) (2.40) 0.83

Dividend

Metric ATRC LMAT Medical Instruments & Supplies median
Dividend yield — 0.92% 0.99%
Payout ratio 0.00 0.47 0.00

Size

Metric ATRC LMAT Medical Instruments & Supplies median
Market cap 3.09b 1.85b 938.39m

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