AtriCure, Inc. (ATRC) vs Envista Holdings Corporation (NVST)

AtriCure, Inc. and Envista Holdings Corporation are both Medical Instruments & Supplies companies. Envista Holdings Corporation is the larger, with a market value of $3.9B against $3.1B — 1.3× the size. Envista Holdings Corporation trades at the lower P/E: 40.6× against 270×. AtriCure, Inc. grew revenue faster over the last twelve months: 13.9% against 11.9%. Envista Holdings Corporation has the higher net margin (3.33% vs 1.85%) and the higher return on invested capital (5.05% vs 1.92%). Across the 22 metrics below, Envista Holdings Corporation leads on 15 and AtriCure, Inc. on 7.

Valuation

Metric ATRC NVST Medical Instruments & Supplies median
P/E 269.53 40.59 34.17
P/S 4.99 1.36 2.83
P/B 5.50 1.26 2.82
Price to free cash flow 122.92 15.57 25.69
EV/EBITDA 80.33 10.04 16.08
EV/Sales 4.82 1.51 3.06
Earnings yield 0.37% 2.46% (1.84%)
Free cash flow yield 0.81% 6.42% 0.17%

Profitability

Metric ATRC NVST Medical Instruments & Supplies median
Gross margin 76.30% 55.24% 54.62%
Operating margin 2.26% 9.58% 1.64%
Net margin 1.85% 3.33% 0.00%
Free cash flow margin 9.32% 8.72% 1.61%
Return on equity 2.15% 3.06% 0.00%
Return on assets 1.64% 1.69% 0.00%
Return on invested capital 1.92% 5.05% 0.00%

Growth

Metric ATRC NVST Medical Instruments & Supplies median
Revenue growth (TTM) 13.94% 11.89% 9.20%
EPS growth (last fiscal year) 74.74% 104.31% —
Revenue growth, 5-year CAGR 20.95% 7.11% 9.48%
Net income growth, 5-year CAGR 0.00% 7.13% 0.00%

Health

Metric ATRC NVST Medical Instruments & Supplies median
Debt to equity 0.14 0.47 0.08
Current ratio 4.22 2.43 2.49
Net debt to EBITDA (9.13) 0.64 0.83

Dividend

Metric ATRC NVST Medical Instruments & Supplies median
Dividend yield — — 0.99%
Payout ratio 0.00 0.00 0.00

Size

Metric ATRC NVST Medical Instruments & Supplies median
Market cap 3.09b 3.87b 938.39m

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