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 $2.9B against $1.9B — 1.5× the size. LeMaitre Vascular, Inc. trades at the lower P/E: 27.9× against 259×. 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 258.96 27.87 33.75
P/S 4.79 7.04 2.52
P/B 5.29 4.40 2.48
Price to free cash flow 118.10 25.03 25.19
EV/EBITDA 77.60 18.52 14.62
EV/Sales 4.66 6.26 2.88
Earnings yield 0.39% 3.59% (2.67%)
Free cash flow yield 0.85% 3.99% 0.09%

Profitability

Metric ATRC LMAT Medical Instruments & Supplies median
Gross margin 76.30% 72.90% 54.29%
Operating margin 2.26% 29.46% 1.07%
Net margin 1.85% 25.02% (1.61%)
Free cash flow margin 9.32% 28.13% 1.08%
Return on equity 2.15% 16.77% (1.32%)
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% 8.85%
EPS growth (last fiscal year) 74.74% 30.57% 8.65%
Revenue growth, 5-year CAGR 20.95% 14.05% 9.17%
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 0.10
Current ratio 4.22 16.31 2.48
Net debt to EBITDA (9.13) (2.40) 0.89

Dividend

Metric ATRC LMAT Medical Instruments & Supplies median
Dividend yield — 1.18% 1.11%
Payout ratio — 0.33 0.27

Size

Metric ATRC LMAT Medical Instruments & Supplies median
Market cap 2.94b 1.90b 619.84m

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