AtriCure, Inc. (ATRC) vs MiniMed Group, Inc. (MMED)

AtriCure, Inc. and MiniMed Group, Inc. are both Medical Instruments & Supplies companies. MiniMed Group, Inc. is the larger, with a market value of $5.1B against $3.1B — 1.6× the size. MiniMed Group, Inc. has negative trailing earnings, so its P/E is not meaningful; AtriCure, Inc. trades at 199×. AtriCure, Inc. has the higher net margin (2.52% vs −4.86%) and the higher return on invested capital (2.61% vs −1.61%). Across the 16 metrics below, AtriCure, Inc. leads on 12 and MiniMed Group, Inc. on 4.

Valuation

Metric ATRC MMED Medical Instruments & Supplies median
P/E 198.82 n/m 30.28
P/S 5.03 1.68 2.49
P/B 5.57 1.42 2.34
Price to free cash flow 129.39 n/m 23.49
EV/EBITDA 83.71 n/m 14.87
EV/Sales 4.85 1.62 2.75
Earnings yield 0.50% (3.24%) 0.00%
Free cash flow yield 0.77% (8.82%) 0.59%

Profitability

Metric ATRC MMED Medical Instruments & Supplies median
Gross margin 76.74% 53.60% 53.60%
Operating margin 2.89% (2.89%) 1.97%
Net margin 2.52% (4.86%) 0.00%
Free cash flow margin 8.98% (14.85%) 2.36%
Return on equity 2.95% 0.00% 0.00%
Return on assets 2.20% (6.27%) 0.00%
Return on invested capital 2.61% (1.61%) 0.13%

Growth

Metric ATRC MMED Medical Instruments & Supplies median
Revenue growth (TTM) 13.79% — 8.97%
EPS growth (last fiscal year) 74.74% (53.57%) 6.51%
Revenue growth, 5-year CAGR 20.95% — 8.85%
Net income growth, 5-year CAGR 0.00% — 0.00%

Health

Metric ATRC MMED Medical Instruments & Supplies median
Debt to equity 0.11 0.00 0.10
Current ratio 4.33 1.81 2.47
Net debt to EBITDA (9.13) 8.76 0.97

Dividend

Metric ATRC MMED Medical Instruments & Supplies median
Dividend yield — — 1.02%
Payout ratio — — 0.27

Size

Metric ATRC MMED Medical Instruments & Supplies median
Market cap 3.12b 5.11b 1.71b

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