AtriCure, Inc. (ATRC) vs Pulse Biosciences, Inc (PLSE)

AtriCure, Inc. and Pulse Biosciences, Inc are both Medical Instruments & Supplies companies. Pulse Biosciences, Inc is the larger, with a market value of $3.8B against $3.1B — 1.2× the size. Pulse Biosciences, Inc has negative trailing earnings, so its P/E is not meaningful; AtriCure, Inc. trades at 270×. AtriCure, Inc. grew revenue faster over the last twelve months: 13.9% against −23.3%. AtriCure, Inc. has the higher net margin (1.85% vs −6,755.8%) and the higher return on invested capital (1.92% vs 0.00%). Across the 17 metrics below, AtriCure, Inc. leads on 15 and Pulse Biosciences, Inc on 2.

Valuation

Metric ATRC PLSE Medical Instruments & Supplies median
P/E 269.53 n/m 34.17
P/S 4.99 3,023.78 2.83
P/B 5.50 36.01 2.82
Price to free cash flow 122.92 n/m 25.69
EV/EBITDA 80.33 n/m 16.08
EV/Sales 4.82 2,945.94 3.06
Earnings yield 0.37% (2.28%) (1.84%)
Free cash flow yield 0.81% (1.71%) 0.17%

Profitability

Metric ATRC PLSE Medical Instruments & Supplies median
Gross margin 76.30% 0.25% 54.62%
Operating margin 2.26% (7,007.76%) 1.64%
Net margin 1.85% (6,755.78%) 0.00%
Free cash flow margin 9.32% (5,180.42%) 1.61%
Return on equity 2.15% (78.49%) 0.00%
Return on assets 1.64% (67.90%) 0.00%
Return on invested capital 1.92% 0.00% 0.00%

Growth

Metric ATRC PLSE Medical Instruments & Supplies median
Revenue growth (TTM) 13.94% (23.25%) 9.20%
EPS growth (last fiscal year) 74.74% (17.39%) —
Revenue growth, 5-year CAGR 20.95% — 9.48%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ATRC PLSE Medical Instruments & Supplies median
Debt to equity 0.14 0.00 0.08
Current ratio 4.22 9.63 2.49
Net debt to EBITDA (9.13) 1.06 0.83

Dividend

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

Size

Metric ATRC PLSE Medical Instruments & Supplies median
Market cap 3.09b 3.77b 938.39m

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