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AtriCure, Inc (ATRC) Fair Value & Analysis

Healthcare · US · Market cap $2.3B

AI AtriCure, Inc logo AtriCure, Inc ATRC · US
Price$44.30
Fair Value$6.26
Upside-85.9%
Quality69/100
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Mixed Growth
Thin margins · 1.9% net margin
Low debt · generates free cash flow
Trails peers (2/14)
Narrow moat 41/100
Evidence: Medium Range $5.09 – $7.44 Share as image

Fair value as of: Aug 16, 2026

From 11 valuation models · updated today

Share price +28.3% over the past month.

A solid business, but screening 86% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case ($7.44). The favourable scenario is already priced in.
  • Solid but not exceptional quality (69/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

$87.14 $19.86 Fair Value $6.26 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 16, 2026.

How to read this chart

60‑month range $19.86 – $87.14 · fair‑value band $5.09 – $7.44 · the $44.30 price screens above the $6.26 fair value. Dashed = 300-day average. As of Aug 16, 2026.

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Analysis

AtriCure, Inc (ATRC) currently trades at $44.30, while our model-based Fair Value estimate is $6.26, implying the stock looks roughly 85.9% overvalued today. The Quality Score stands at 69/100 (solid quality), in the Healthcare sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).

Over the trailing twelve months, AtriCure, Inc generated revenue of $570M at a net margin of 1.9%. Revenue grew 12.8% year over year. It earns a return on equity of 2.2%. The balance sheet holds a net cash position of $79.4M. Fundamentals as of Aug 16, 2026

Our scenario range runs from $5.09 (bear case) to $7.44 (bull case); at $44.30, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 75% above its 52-week low, currently above its 200-day average. For context, the median of 10 Healthcare peers we cover trades at -46% fair-value upside, at -86%, ATRC screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF $16.25 $27.56 $49.70 80
Rev-Margin DCF $13.69 $23.69 $43.25 74
EV/EBITDA $5.60 $6.78 $7.95 54
All 11 models by family
DCF Models
FCF DCF $17.17 $25.32 $50.72 38
Owner Earnings $2.08 $2.10 $2.12 31
5Y Revenue Exit $13.22 $20.97 $37.15 39
5Y EBITDA Exit $8.99 $12.42 $19.07 41
10Y Revenue Exit $14.21 $27.70 $35.98 36
10Y EBITDA Exit $11.57 $18.80 $30.03 37
Multiples
EV/EBITDA $5.60 $6.78 $7.95 54
EV/Revenue $10.71 $14.42 $18.12 43
Asset-Based
NCAV (Graham) $4.84 $6.48 $9.67 50
Growth DCF
Growth DCF $16.25 $27.56 $49.70 80
Rev-Margin DCF $13.69 $23.69 $43.25 74

Widest divergence: Growth DCF ($23.69) versus Asset-Based ($6.48). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) $570M
Revenue growth (YoY) +12.8%
Net margin 1.9%
Return on equity 2.2%
Free cash flow $48.3M FY2025
P/E ratio 211.0
More key figures
Operating margin 6.3%
EPS (TTM) $0.2100
Net cash $79.4M FY2025

Figures from reported company fundamentals · as of Aug 16, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 69/100

Of which business quality 68 · Market factors (momentum, volatility) 63

Profitability 37
Margins and returns on capital today
Quality Growth 78
Are margins and returns improving?
Cashflow 58
Earnings quality: real cash, not paper profit
Fin. Strength 95
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 37
Calm price path (market factor)
Momentum 72
Price trend over the last 3–12 months (market factor)
52W Momentum 78
Distance to the 52-week high (market factor)
Net Issuance 66
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

AtriCure, Inc. engages in the development, manufacture, and sale of devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, the Asia-Pacific, and internationally.

Full company description

AtriCure, Inc. engages in the development, manufacture, and sale of devices for surgical ablation of cardiac tissue, exclusion of the left atrial appendage, and temporarily blocking pain by ablating peripheral nerves to medical centers in the United States, the Asia-Pacific, and internationally. It offers Isolator Synergy Ablation System clamps, a single-use disposable radio frequency products; multifunctional pens and linear ablation devices, a single-use disposable RF products for the treatment of cardiac arrhythmias; cryoICE Cryoablation System that enables the user to make linear ablations of varied lengths; and EPi-Sense Systems, a single-use disposable device used for the treatment of symptomatic, drug-refractory, and long-standing persistent atrial fibrillation. It also provides cryoSPHERE probe, which provides temporary pain relief by applying cryothermic energy to targeted intercoastal peripheral nerves in the ribcage; AtriClip System, an implantable device coupled to a single-use disposable applier; cryoXT probes, a cryoablation device designed specifically for Cryo Nerve Block therapy; LARIAT System, a solution for soft-tissue closure; Lumitip dissectors to separate tissues to provide access to key anatomical structures that are targeted for ablation; Glidepath guides for placement of clamps; and Subtle Cannula's to support access for EPi-Sense catheters. In addition, the company sells various reusable cardiac surgery instruments. It markets and sells its products through independent distributors and direct sales personnel. The company was incorporated in 2000 and is headquartered in Mason, Ohio.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

AtriCure, Inc reported revenue of $535M in FY2025 versus $274M in FY2021, a compound +18.1%/yr. Reported net income was −$11.4M in FY2025.

Growth Quality 81/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2025)
$535M
Latest YoY
+14.9%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+17.4%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+20.9%
Avg. growth/yr (24Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+52.9%
Revenue +18.1%/yr
FY21 $274M
FY22 $330M
FY23 $399M
FY24 $465M
FY25 $535M
Net income
FY21 $50.2M
FY22 −$46.5M
FY23 −$30.4M
FY24 −$44.7M
FY25 −$11.4M

ATRC screens 86% overvalued. Compare with Intuitive Surgical, Inc →

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Cite: Fair Value Calculator (2026). "AtriCure, Inc Fair Value". https://www.fairvalue-calculator.com/stock/ATRC

Peer Group

Medical Instruments & Supplies · 202 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 69 · Top 25%
Fair Value upside −86% · Bottom 25%
Return on equity (TTM) 2% · Below median
Return on assets 1% · Below median
Net margin (TTM) 2% · Below median
Operating margin (TTM) 6% · Below median
Revenue growth 13% · Above median
Debt / equity 0.13× · Higher than median

Valuation Multiples vs Medical Instruments & Supplies median · lower = cheaper

P/E (TTM) 211.0× · Pricier than 75% of peers
P/B 4.58× · Pricier than 75% of peers
P/S (TTM) 3.96× · Pricier than median
P/FCF 46.7× · Pricier than 75% of peers
EV/EBITDA 63.7× · Pricier than 75% of peers
PEG 10.00× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 0
FUTURE 64 · sector 26
PAST 9 · sector 25
HEALTH 94 · sector 96
DIVIDEND 0 · sector 36

VALUE 0: the price sits above our fair-value range.

Insider activity: 46/100

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Medical Instruments & Supplies stocks, each showing price versus our Fair Value estimate (as of Aug 16, 2026).

Stock Price Fair Value vs Fair Value
Intuitive Surgical, Inc ISRG $401.27 $150.04 -63%
EssilorLuxottica Société anonyme 1EL €164.40 €68.55 -58%
Medline Inc MDLN $35.50 $30.15 -15%
Becton, Dickinson and Company BDX $181.41 $100.46 -45%
Alcon Inc ALC $73.58 $39.78 -46%
ResMed Inc RMD $226.00 $187.89 -17%
West Pharmaceutical Services, Inc WST $352.29 $141.58 -60%
Sartorius Stedim Biotech S.A DIM €180.30 €48.88 -73%
Coloplast A/S COLOB kr 429.70 kr 382.22 -11%
Gan & Lee Pharmaceuticals., a biopharmaceutical company, 603087 ¥77.48 ¥27.22 -65%

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Frequently asked questions

Is AtriCure, Inc (ATRC) overvalued or undervalued?
As of Aug 16, 2026, our model estimates a fair value of $6.26 versus a price of $44.30, about −86% (overvalued).
What is the fair value of ATRC?
Our model-based fair value for AtriCure, Inc is $6.26 (as of Aug 16, 2026), built from audited fundamentals. The current price is $44.30.
What is the quality score of ATRC?
AtriCure, Inc has a Quality Score of 69/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of AtriCure, Inc (ATRC)?
AtriCure, Inc reported trailing-twelve-month revenue of about $570M (latest available figure, as of Aug 16, 2026).
What is the net profit margin of ATRC?
The net profit margin of AtriCure, Inc is about 1.9%, meaning it keeps roughly 1.9% of revenue as net income. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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