Is the business good?
How good a business is ATRC?
AtriCure, Inc. earns −0.58% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−0.58%
Return on invested capital · cost of capital 9.0% · 9.6 points below what the capital costs: growth destroys value
- Operating margin
- −0.54%
Operating margin · Medical Instruments & Supplies median 5.8% · 12 months to Q1 2026
- Share count, year on year
- +3.5%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 18%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −21% |
| FY2021 | 20% |
| FY2022 | −13% |
| FY2023 | −6.7% |
| FY2024 | −8.6% |
| FY2025 | −1.8% |
Details›
- Gross margin12 months to Q1 2026
- 76%
- Operating margin12 months to Q1 2026
- −0.54%
- Net margin12 months to Q1 2026
- −0.83%
- Free cash flow margin
- 9.7%
- R&D as % of revenue
- 18%
- Revenue, trailing twelve months
- $552M
- Free cash flow, trailing twelve months
- $54M
- Net income, trailing twelve months
- −$4.6M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −0.58%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Medical Instruments & Supplies
Ranks #10 of 27 by Smart Score