AtriCure, Inc. · Surgical & Medical Instruments & Apparatus

ATRC

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The short version

A company still losing money with growing sales. Institutions are adding.

Going well

Sales up 13% in the latest quarter vs a year ago
Sales up 15% last year
Little debt

Watch out for

Losing money

Money moves

No insider buying or selling in the last 30 days
Institutions added 5.7% to their holdings in the quarter ending June 2026 (150 bought, 83 sold)
Held by Ray Dalio (Bridgewater)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$61.14+3.6% that day

Company value: $3.1B; Share price times all shares
Price vs profit (P/E): 291.1x; You pay about $291 for each $1 of yearly profit
Price vs sales: 5.5x; Company value is 5.5 times a year of sales
Cash vs value: 5%; Cash as a share of company value
Debt vs value: 2%; Debt as a share of company value

From ATRC's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26

$153.6M+13% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $569.6M, up 14% from the 12 months before. Over 5 years, sales grew about 21% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of ATRC. Starting points are the company's recent numbers.

Sales growth+14% a yearRecently: +14% a yearProfit margin2%Last 12 months: 1.9%P/E at the end40xToday: 291.1x. Many steady companies trade at 12x to 25xShare count change+1% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.1B

Profit in 5 years$22M

Price these guesses point to$16.41-73% vs $61.14 todayAbout -23% a year, before dividends

What today's price needs: with a 2% margin and a 40x P/E, sales would have to grow about 48% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

3/7Mixed

MissReturn on equity 15%+Earns a lot on the money owners have in the business.-2.4%
PassDebt under half of equityNot relying on borrowed money.0.13x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-2.1%
MissProfitable every yearSteady profits, not one good year.1 of 10 years
PassFree cash flow positiveBrings in more cash than it spends to run and grow.$48.3M
MissShare count not growingNot diluting owners. Falling means buybacks.+4.4% in 3 years
PassGross margin 40%+Pricing power: sells for well above what it costs to make.75.0%

Revenue: $534.5M; +14.9% vs prior year
5-year growth: +20.9%/yr; revenue, per year
Total debt: $61.9M; 0.13x equity
Current ratio: 3.96x; short-term assets / bills due

From annual reports filed with the SEC. A checklist is a starting point for research, not a verdict.