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 $2.9B against $1.8B — 1.7× the size. DENTSPLY SIRONA 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 −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 258.96 n/m 33.75
P/S 4.79 0.47 2.52
P/B 5.29 1.27 2.48
Price to free cash flow 118.10 12.05 25.19
EV/EBITDA 77.60 8.50 14.62
EV/Sales 4.66 0.95 2.88
Earnings yield 0.39% (32.09%) (2.67%)
Free cash flow yield 0.85% 8.30% 0.09%

Profitability

Metric ATRC XRAY Medical Instruments & Supplies median
Gross margin 76.30% 49.52% 54.29%
Operating margin 2.26% (8.51%) 1.07%
Net margin 1.85% (14.99%) (1.61%)
Free cash flow margin 9.32% 4.04% 1.08%
Return on equity 2.15% (32.97%) (1.32%)
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%) 8.85%
EPS growth (last fiscal year) 74.74% 33.04% 8.65%
Revenue growth, 5-year CAGR 20.95% 1.96% 9.17%
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 0.10
Current ratio 4.22 1.63 2.48
Net debt to EBITDA (9.13) 3.71 0.89

Dividend

Metric ATRC XRAY Medical Instruments & Supplies median
Dividend yield — 1.87% 1.11%
Payout ratio — — 0.27

Size

Metric ATRC XRAY Medical Instruments & Supplies median
Market cap 2.94b 1.76b 619.84m

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