AtriCure, Inc. (ATRC) Key Metrics
ATRC valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $2.85B
- Enterprise value
- $2.95B
- P/E (TTM)
- 267.0
- Forward P/E
- 232.6
- PEG ratio
- 10.00
- Price / sales
- 5.0 10-yr median 4.7
- Price / book
- 5.8 10-yr median 4.0
- EV / EBITDA
- 75.1
- Dividend yield
- —
- Beta
- 1.25
ATRC key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsATRC valuation Price multiples at each fiscal year-end price.
ATRC returns How much profit the business earns on the capital it uses.
ATRC per-share figures Results divided by the shares outstanding at year-end.
ATRC financial health Debt, liquidity and how easily interest is covered.
ATRC efficiency & capital use Working capital cycle and where the cash goes.
ATRC valuation history
ATRC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ATRC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ATRC cash returned to shareholders
ATRC price vs earnings per share
ATRC key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $1.89B | $1.44B | $1.65B | $2.03B | $3.20B | $2.35B | $1.22B | $1.04B | $590.7M | $618.6M |
| Enterprise value | $1.81B | $1.39B | $1.59B | $1.98B | $3.16B | $2.17B | $1.22B | $971.1M | $593.7M | $613.5M |
| P/E ratio | — | — | — | — | 63.8 | — | — | — | — | — |
| Price / sales | 3.5 | 3.1 | 4.1 | 6.1 | 11.7 | 11.4 | 5.3 | 5.2 | 3.4 | 4.0 |
| Price / book | 3.8 | 3.1 | 3.5 | 4.4 | 6.6 | 5.7 | 4.9 | 4.2 | 3.7 | 3.7 |
| Price / free cash flow | 39.1 | — | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 32.9 | 117.6 | 368.6 | — | — | — | — | — | — | — |
| EV / sales | 3.4 | 3.0 | 4.0 | 6.0 | 11.5 | 10.5 | 5.3 | 4.8 | 3.4 | 4.0 |
| EV / EBITDA | 111.4 | — | — | — | 48.0 | — | — | — | — | — |
| EV / free cash flow | 37.5 | — | — | — | — | — | — | — | — | — |
| Earnings yield | −0.6% | −3.1% | −1.8% | −2.3% | 1.6% | −2.1% | −2.9% | −2.0% | −4.6% | −5.4% |
| Free cash flow yield | 2.6% | −0.8% | −2.3% | −1.9% | −0.7% | −1.1% | −2.3% | −1.0% | −2.6% | −3.7% |
| Dividend yield | 0.0% | 0.0% | 0.0% | 0.3% | 0.4% | 0.6% | 0.3% | 2.5% | 0.7% | 4.6% |
| Shareholder yield (dividends + buybacks) | 0.6% | 0.5% | 0.4% | 0.9% | 0.9% | 1.2% | 1.1% | 2.9% | 1.1% | 4.9% |
| Share price at fiscal year-end | $39.56 | $30.56 | $35.69 | $44.38 | $69.53 | $55.67 | $32.51 | $30.60 | $18.24 | $19.57 |
| Per share | ||||||||||
| Revenue per share | $11.19 | $9.91 | $8.62 | $7.22 | $5.96 | $4.90 | $6.14 | $5.92 | $5.39 | $4.91 |
| Earnings per share | −$0.24 | −$0.95 | −$0.66 | −$1.02 | $1.09 | −$1.14 | −$0.94 | −$0.62 | −$0.83 | −$1.05 |
| Operating cash flow per share | $1.20 | $0.26 | $0.10 | −$0.48 | −$0.30 | −$0.47 | −$0.42 | −$0.12 | −$0.28 | −$0.48 |
| Free cash flow per share | $1.01 | −$0.24 | −$0.81 | −$0.85 | −$0.51 | −$0.60 | −$0.74 | −$0.30 | −$0.47 | −$0.72 |
| Cash per share | $3.51 | $2.61 | $2.96 | $2.65 | $2.59 | $5.80 | $2.18 | $3.65 | $1.06 | $1.39 |
| Book value per share | $10.30 | $9.82 | $10.07 | $9.99 | $10.51 | $9.79 | $6.58 | $7.32 | $4.98 | $5.33 |
| Tangible book value per share | $4.38 | $3.61 | $3.61 | $3.99 | $4.47 | $1.17 | −$3.12 | $2.78 | $0.16 | $0.35 |
| Dividends per share | $0.00 | $0.00 | $0.00 | $0.13 | $0.27 | $0.34 | $0.10 | $0.76 | $0.14 | $0.90 |
| Capex per share | $0.19 | $0.50 | $0.91 | $0.37 | $0.21 | $0.12 | $0.32 | $0.18 | $0.20 | $0.24 |
| Debt per share | $1.84 | $1.63 | $1.61 | $1.63 | $1.64 | $1.76 | $2.03 | $1.54 | $1.16 | $1.23 |
| Shares outstanding | 47.8M | 47.0M | 46.3M | 45.7M | 46.0M | 42.1M | 37.6M | 34.1M | 32.4M | 31.6M |
| Change in shares outstanding | +1.7% | +1.4% | +1.2% | −0.6% | +9.3% | +12.1% | +10.3% | +5.2% | +2.5% | +12.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −2.4% | −9.6% | −6.6% | −9.9% | 11.2% | −14.6% | −14.2% | −10.3% | −16.3% | −18.8% |
| Return on invested capital (ROIC) | −0.7% | −7.7% | −5.2% | −7.9% | 16.1% | −14.4% | −12.5% | −7.9% | −12.1% | −14.9% |
| Return on assets (ROA) | −1.8% | −7.3% | −5.1% | −7.7% | 7.5% | −7.6% | −7.7% | −6.8% | −9.9% | −12.1% |
| Return on tangible assets | −3.1% | −14.1% | −9.7% | −14.9% | 14.9% | −13.7% | −18.2% | −10.5% | −24.1% | −28.0% |
| Free cash flow margin | 9.0% | −2.4% | −9.4% | −11.8% | −8.6% | −12.2% | −12.1% | −5.1% | −8.8% | −14.7% |
| Income quality (OCF / net income) | — | — | — | — | −0.27 | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $88.0M | $76.5M | $74.5M | $74.5M | $75.6M | $74.0M | $76.4M | $52.5M | $37.4M | $38.9M |
| Cash & short-term investments | $167.4M | $122.7M | $137.3M | $121.1M | $119.1M | $244.2M | $81.8M | $124.4M | $34.5M | $44.0M |
| Net debt | −$79.4M | −$46.2M | −$62.8M | −$46.6M | −$43.4M | −$170.2M | −$5.4M | −$71.9M | $3.0M | −$5.1M |
| Debt / equity | 0.18 | 0.17 | 0.16 | 0.16 | 0.16 | 0.18 | 0.31 | 0.21 | 0.23 | 0.23 |
| Debt / assets | 0.13 | 0.13 | 0.12 | 0.13 | 0.12 | 0.10 | 0.14 | 0.15 | 0.14 | 0.14 |
| Net debt / EBITDA | −4.89 | — | — | — | −0.66 | — | — | — | — | — |
| Current ratio | 3.96 | 3.65 | 3.57 | 3.69 | 3.47 | 6.24 | 2.87 | 4.34 | 2.58 | 2.97 |
| Quick ratio | 2.99 | 2.62 | 2.66 | 2.90 | 2.78 | 5.53 | 2.28 | 3.78 | 1.87 | 2.36 |
| Interest coverage | -0.6 | -6.2 | -3.9 | -8.6 | 11.2 | -9.1 | -8.1 | -3.7 | -11.0 | -17.3 |
| Working capital | $241.0M | $194.4M | $191.7M | $156.8M | $139.6M | $257.6M | $93.2M | $134.5M | $50.4M | $56.9M |
| Invested capital | $412.5M | $414.8M | $403.4M | $410.2M | $440.3M | $242.2M | $242.0M | $177.4M | $164.1M | $163.3M |
| Tangible asset value | $209.1M | $169.7M | $167.4M | $182.6M | $206.0M | $49.4M | −$117.3M | $94.9M | $5.1M | $11.1M |
| Net current asset value | $160.3M | $119.5M | $118.5M | $86.5M | $64.5M | $4.6M | −$167.4M | $67.3M | −$24.3M | −$22.3M |
| Graham number | — | — | — | — | $16.06 | — | — | — | — | — |
| Graham net-net per share | $1.98 | $1.22 | $1.36 | $1.04 | $0.69 | −$0.55 | −$5.13 | $1.38 | −$1.34 | −$1.24 |
| Capital allocation | ||||||||||
| Dividends paid | $0 | $0 | $60,000 | $6.0M | $12.4M | $14.2M | $3.9M | $25.8M | $4.4M | $28.3M |
| Share buybacks (net) | $11.2M | $7.0M | $6.6M | $12.2M | $18.0M | $13.0M | $9.0M | $4.5M | $2.0M | $1.7M |
| Dividend payout ratio | — | — | — | — | 24.6% | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 23.1% | — | — | — | — | — | — | — | — | — |
| Capex / revenue | 1.7% | 5.0% | 10.5% | 5.1% | 3.6% | 2.5% | 5.3% | 3.1% | 3.7% | 5.0% |
| Capex / operating cash flow | 15.8% | 192.2% | 936.6% | — | — | — | — | — | — | — |
| Capex / depreciation | 0.44 | 1.25 | 2.84 | 1.44 | 0.93 | 0.55 | 1.30 | 0.71 | 0.70 | 0.83 |
| Stock-based compensation / revenue | 8.4% | 8.7% | 8.9% | 8.7% | 10.2% | 11.0% | 7.8% | 8.2% | 8.4% | 7.5% |
| R&D / revenue | 16.9% | 20.7% | 18.5% | 17.4% | 17.7% | 20.9% | 17.9% | 17.2% | 19.5% | 23.1% |
| SG&A / revenue | 58.2% | 62.6% | 63.4% | 70.0% | 7.2% | 72.9% | 70.3% | 64.2% | 67.0% | 68.6% |
| Efficiency | ||||||||||
| Days sales outstanding | 43.4 | 44.3 | 43.5 | 41.8 | 37.4 | 45.2 | 42.1 | 43.7 | 46.1 | 47.7 |
| Days of inventory on hand | 205.2 | 221.9 | 210.1 | 183.5 | 197.2 | 205.5 | 156.6 | 150.4 | 150.8 | 146.5 |
| Days payables outstanding | 138.0 | 81.2 | 87.2 | 83.2 | 83.5 | 88.3 | 74.3 | 74.0 | 86.8 | 97.1 |
| Cash conversion cycle (days) | 110.6 | 185.0 | 166.4 | 142.1 | 151.1 | 162.5 | 124.5 | 120.2 | 110.1 | 97.0 |
| Receivables turnover | 8.42 | 8.25 | 8.39 | 8.73 | 9.77 | 8.07 | 8.67 | 8.35 | 7.91 | 7.66 |
| Payables turnover | 2.65 | 4.50 | 4.19 | 4.39 | 4.37 | 4.13 | 4.92 | 4.94 | 4.20 | 3.76 |
| Inventory turnover | 1.78 | 1.64 | 1.74 | 1.99 | 1.85 | 1.78 | 2.33 | 2.43 | 2.42 | 2.49 |
| Asset turnover | 0.85 | 0.76 | 0.67 | 0.55 | 0.41 | 0.32 | 0.50 | 0.65 | 0.64 | 0.56 |
| Average receivables | $63.5M | $56.4M | $47.6M | $37.9M | $28.1M | $25.6M | $26.6M | $24.1M | $22.1M | $20.3M |
| Average payables | $51.7M | $26.2M | $23.6M | $19.2M | $15.7M | $13.8M | $12.3M | $11.0M | $11.6M | $11.7M |
| Average inventory | $76.9M | $71.6M | $56.9M | $42.4M | $37.0M | $32.2M | $25.9M | $22.5M | $20.1M | $17.7M |
| Intangibles / total assets | 43.2% | 47.8% | 48.7% | 46.8% | 45.1% | 50.8% | 65.4% | 43.3% | 58.3% | 56.9% |
Computed from ATRC's annual financial statements (latest annual report filed February 19, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ATRC valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 267.0 and the forward P/E is 232.6. AtriCure earned a return on equity of −2.4% and a return on invested capital of −0.7% in fiscal 2025. It ended the year with $88.0 million of debt and $167.4 million in cash and short-term investments, a net cash position of $79.4 million. It returned $11.2 million to shareholders: $0 in dividends and $11.2 million in share buybacks, 23% of free cash flow. The share count rose 51.1% from 31.6M to 47.8M over 9 years.
See the ATRC income statement, the ATRC chart for price history, or the ATRC stock overview for the latest quote and news.
ATRC key metrics FAQ
What is AtriCure's P/E ratio?
AtriCure's trailing P/E ratio is 267.0 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 232.6. At the end of fiscal 2025 it was —.
What is AtriCure's EV/EBITDA?
AtriCure's enterprise value was 111.4 times EBITDA at the end of fiscal 2025 (enterprise value $1.8 billion, EBITDA $16.2 million); the current EV/EBITDA is 75.1.
What is AtriCure's return on equity?
AtriCure's return on equity (ROE) was −2.4% in fiscal 2025: net income of -$11.4 million on average shareholders' equity of $476.5 million.
What is AtriCure's ROIC?
AtriCure's return on invested capital was −0.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does AtriCure have?
AtriCure had total debt of $88.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.18 and more cash than debt.
Does AtriCure pay a dividend?
AtriCure did not pay a dividend in fiscal 2025.
Does AtriCure buy back its shares?
Yes. AtriCure spent $11.2 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.7% over the year, to 47.8M..
What is AtriCure's free cash flow yield?
AtriCure generated $48.3 million of free cash flow in fiscal 2025, a free cash flow yield of 2.6% on its market value at year-end ($1.9 billion).
What is AtriCure's current ratio?
AtriCure's current ratio was 3.96 at the end of fiscal 2025: current assets were 3.96 times current liabilities.