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 $3.3B against $2.9B — 1.1× the size. Pulse Biosciences, Inc has negative trailing earnings, so its P/E is not meaningful; AtriCure, Inc. trades at 259×. 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 258.96 n/m 33.75
P/S 4.79 2,585.22 2.52
P/B 5.29 30.79 2.48
Price to free cash flow 118.10 n/m 25.19
EV/EBITDA 77.60 n/m 14.62
EV/Sales 4.66 2,554.99 2.88
Earnings yield 0.39% (2.67%) (2.67%)
Free cash flow yield 0.85% (2.00%) 0.09%

Profitability

Metric ATRC PLSE Medical Instruments & Supplies median
Gross margin 76.30% 0.25% 54.29%
Operating margin 2.26% (7,007.76%) 1.07%
Net margin 1.85% (6,755.78%) (1.61%)
Free cash flow margin 9.32% (5,180.42%) 1.08%
Return on equity 2.15% (78.49%) (1.32%)
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%) 8.85%
EPS growth (last fiscal year) 74.74% (17.39%) 8.65%
Revenue growth, 5-year CAGR 20.95% — 9.17%
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 0.10
Current ratio 4.22 9.63 2.48
Net debt to EBITDA (9.13) 1.06 0.89

Dividend

Metric ATRC PLSE Medical Instruments & Supplies median
Dividend yield — — 1.11%
Payout ratio — — 0.27

Size

Metric ATRC PLSE Medical Instruments & Supplies median
Market cap 2.94b 3.31b 619.84m

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