ATRCNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
AtriCure, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 27, 2026
$55.53−0.54 (-0.96%)
Close on Oct 19, 2026
- Market cap
- $2.71B
- P/E (TTM)
- 264.4
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
75.0%+2.7 pts over 5 years
Operating margin
-1.8%+19.6 pts over 5 years
Net margin
-2.1%+21.2 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +14.9% | +17.4% | +20.9% | +15.2% | |
| Gross profit | +15.3% | +17.7% | +21.8% | +15.7% | |
| Free cash flow | +6381.1% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -18.8% | -14.6% | -2.4% | |
| Return on assets | -12.1% | -7.6% | -1.8% | |
| Current ratio | 2.97 | 6.24 | 3.96 | |
| Debt to equity | 0.15 | 0.15 | 0.13 | |
| Interest coverage | -17.3× | -9.1× | -1.6× | |
| Inventory turnover | 2.5× | 1.8× | 1.7× | |
| Capex to revenue | 5.0% | 2.5% | 1.7% | |
| Diluted shares | 32M | 42M | 48M |
Where the cash went
Fiscal 2021 to 2025, five years combined
AtriCure generated $109.94M from operations and spent $59.14M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$109.94M
Used
$59.14M
Capital expenditure$59.14M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-2.1%
×Asset turnover0.85×
×Equity multiplier1.33×
=Return on equity, FY2025-2.4%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -2.1% | 0.85× | 1.33× | -2.4% |
| FY2024 | -9.6% | 0.76× | 1.32× | -9.6% |
| FY2023 | -7.6% | 0.67× | 1.30× | -6.6% |
| FY2022 | -14.1% | 0.55× | 1.28× | -9.9% |
| FY2021 | 18.3% | 0.41× | 1.48× | 11.2% |
| FY2020 | -23.3% | 0.32× | 1.93× | -14.6% |
| FY2019 | -15.2% | 0.50× | 1.84× | -14.2% |
| FY2018 | -10.5% | 0.65× | 1.52× | -10.3% |
| FY2017 | -15.4% | 0.64× | 1.65× | -16.3% |
| FY2016 | -21.5% | 0.56× | 1.55× | -18.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
7of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$11.45M
- Cash generatingOperating cash flow above zero$57.33M
- Return on assets improvedROA up on the prior year-7.3% → -1.9%
- Earnings backed by cashOperating cash flow above net income$57.33M vs -$11.45M
- Less leverageLong-term debt to assets fell10.2% → 9.5%
- Better liquidityCurrent ratio rose3.65 → 3.96
- No dilutionShare count did not rise47M → 48M
- Gross margin improvedGross margin up on the prior year74.69% → 74.98%
- More efficientAsset turnover rose0.76 → 0.88