AtriCure, Inc. (ATRC) vs DENTSPLY SIRONA Inc. (XRAY)

AtriCure, Inc. and DENTSPLY SIRONA Inc. are both Medical Instruments & Supplies companies. AtriCure, Inc. is the larger, with a market value of $3.1B against $1.9B — 1.6× the size. DENTSPLY SIRONA 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 −0.76%. AtriCure, Inc. has the higher net margin (1.85% vs −15.0%) and the higher return on invested capital (1.92% vs −6.23%). Across the 20 metrics below, AtriCure, Inc. leads on 14 and DENTSPLY SIRONA Inc. on 6.

Valuation

Metric ATRC XRAY Medical Instruments & Supplies median
P/E 269.53 n/m 34.17
P/S 4.99 0.52 2.83
P/B 5.50 1.39 2.82
Price to free cash flow 122.92 13.22 25.69
EV/EBITDA 80.33 8.91 16.08
EV/Sales 4.82 1.00 3.06
Earnings yield 0.37% (29.26%) (1.84%)
Free cash flow yield 0.81% 7.56% 0.17%

Profitability

Metric ATRC XRAY Medical Instruments & Supplies median
Gross margin 76.30% 49.52% 54.62%
Operating margin 2.26% (8.51%) 1.64%
Net margin 1.85% (14.99%) 0.00%
Free cash flow margin 9.32% 4.04% 1.61%
Return on equity 2.15% (32.97%) 0.00%
Return on assets 1.64% (9.69%) 0.00%
Return on invested capital 1.92% (6.23%) 0.00%

Growth

Metric ATRC XRAY Medical Instruments & Supplies median
Revenue growth (TTM) 13.94% (0.76%) 9.20%
EPS growth (last fiscal year) 74.74% 33.04% —
Revenue growth, 5-year CAGR 20.95% 1.96% 9.48%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric ATRC XRAY Medical Instruments & Supplies median
Debt to equity 0.14 1.48 0.08
Current ratio 4.22 1.63 2.49
Net debt to EBITDA (9.13) 3.71 0.83

Dividend

Metric ATRC XRAY Medical Instruments & Supplies median
Dividend yield — 1.54% 0.99%
Payout ratio 0.00 0.27 0.00

Size

Metric ATRC XRAY Medical Instruments & Supplies median
Market cap 3.09b 1.90b 938.39m

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