Latest Ratios: P/E Ratio 116.5x · EV/EBITDA 28.7x · ROE 2.7%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.2B | $2.2B | $1.2B | $728M | $485M | $793M | $894M | $1.0B | $1.0B | $654M | $629M |
| Enterprise Value | $1.4B | $2.4B | $1.5B | $1.0B | $803M | $1.1B | $1.1B | $1.2B | $1.2B | $840M | $643M |
| P/E Ratio → | 116.48 | 217.19 | — | — | — | — | — | 600.67 | — | 174.09 | 59.84 |
| P/S Ratio | 2.69 | 4.87 | 3.07 | 2.06 | 1.55 | 2.65 | 3.53 | 3.71 | 3.93 | 3.45 | 3.48 |
| P/B Ratio | 2.57 | 4.80 | 4.31 | 2.59 | 1.71 | 2.64 | 2.72 | 3.59 | 3.76 | 2.34 | 3.01 |
| P/FCF | — | — | 107.85 | 63.93 | — | — | 177.33 | 132.25 | 252.35 | 173.90 | 51.12 |
| P/OCF | 31.14 | 56.41 | 53.59 | 38.70 | — | — | 72.27 | 64.80 | 104.58 | 60.56 | 31.87 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.39 | 3.86 | 2.90 | 2.56 | 3.68 | 4.54 | 4.48 | 4.62 | 4.43 | 3.56 |
| EV / EBITDA | 28.75 | 48.33 | 23.78 | 35.67 | 28.02 | 34.28 | 49.66 | 34.98 | 44.35 | 47.44 | 21.28 |
| EV / EBIT | 52.89 | 88.92 | 56.06 | 276.83 | 247.74 | 534.14 | — | 74.83 | 100.35 | 99.49 | 38.02 |
| EV / FCF | — | — | 135.80 | 90.20 | — | — | 228.10 | 159.51 | 296.81 | 223.25 | 52.28 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 61.3% | 61.3% | 64.0% | 64.7% | 64.5% | 66.1% | 66.3% | 66.3% | 65.8% | 67.8% | 65.9% |
| Operating Margin | 6.1% | 6.1% | 10.0% | 1.6% | 2.0% | 2.7% | 1.0% | 6.2% | 3.5% | 4.2% | 12.1% |
| Net Profit Margin | 2.2% | 2.2% | -3.4% | -8.7% | -6.1% | -5.0% | -6.6% | 0.6% | -1.4% | 2.0% | 6.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.7% | 2.7% | -4.8% | -10.8% | -6.6% | -4.7% | -5.4% | 0.6% | -1.4% | 1.5% | 5.9% |
| ROA | 1.2% | 1.2% | -1.7% | -3.9% | -2.5% | -1.9% | -2.4% | 0.3% | -0.7% | 0.8% | 4.3% |
| ROIC | 3.2% | 3.2% | 5.0% | 0.7% | 0.8% | 1.0% | 0.3% | 2.7% | 1.5% | 1.7% | 9.8% |
| ROCE | 3.6% | 3.6% | 5.3% | 0.8% | 0.8% | 1.1% | 0.4% | 3.1% | 1.7% | 1.9% | 9.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.65 | 0.65 | 1.31 | 1.27 | 1.25 | 1.20 | 0.97 | 0.86 | 0.81 | 0.81 | 0.34 |
| Debt / EBITDA | 5.94 | 5.94 | 5.74 | 12.43 | 12.46 | 11.28 | 13.71 | 6.93 | 8.16 | 12.79 | 2.37 |
| Net Debt / Equity | — | 0.51 | 1.12 | 1.06 | 1.12 | 1.02 | 0.78 | 0.74 | 0.66 | 0.67 | 0.07 |
| Net Debt / EBITDA | 4.62 | 4.62 | 4.90 | 10.39 | 11.08 | 9.57 | 11.06 | 5.98 | 6.64 | 10.49 | 0.47 |
| Debt / FCF | — | — | 27.95 | 26.27 | — | — | 50.78 | 27.26 | 44.46 | 49.34 | 1.16 |
| Interest Coverage | 1.01 | 1.01 | 0.78 | 0.15 | 0.18 | 0.12 | -0.03 | 1.11 | 0.77 | 1.73 | 5.56 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.99 | 2.99 | 4.34 | 4.85 | 4.98 | 5.51 | 3.88 | 4.15 | 5.19 | 4.18 | 4.89 |
| Quick Ratio | 2.08 | 2.08 | 3.15 | 3.43 | 3.48 | 3.80 | 2.67 | 2.97 | 3.87 | 3.09 | 4.02 |
| Cash Ratio | 0.64 | 0.64 | 0.80 | 1.02 | 0.79 | 1.22 | 1.02 | 0.75 | 1.20 | 0.95 | 1.90 |
| Asset Turnover | — | 0.50 | 0.49 | 0.45 | 0.41 | 0.38 | 0.32 | 0.46 | 0.46 | 0.32 | 0.57 |
| Inventory Turnover | 1.85 | 1.85 | 1.75 | 1.52 | 1.49 | 1.32 | 1.17 | 1.76 | 1.98 | 1.31 | 2.34 |
| Days Sales Outstanding | — | 85.75 | 80.69 | 76.44 | 80.94 | 70.97 | 70.27 | 73.81 | 71.42 | 98.98 | 60.90 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.9% | 0.5% | — | — | — | — | — | 0.2% | — | 0.6% | 1.7% |
| FCF Yield | — | — | 0.9% | 1.6% | — | — | 0.6% | 0.8% | 0.4% | 0.6% | 2.0% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.1% | 0.4% | 0.2% | 0.2% | 0.3% | 0.2% | 0.2% | 0.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.1% | 0.4% | 0.2% | 0.2% | 0.3% | 0.2% | 0.2% | 0.1% |
| Shares Outstanding | — | $47M | $42M | $41M | $40M | $39M | $38M | $38M | $36M | $34M | $33M |
Regulatory approval timeline delays
Based on reported figures, Artivion trades at a trailing P/E of 112.43, which suggests that the market is pricing in significant future earnings expansion rather than current profitability, a valuation stance that appears aggressive when compared to the more established, profitable peers in the medical device sector.
The forward P/E of 248.53 indicates that investors are paying a substantial premium for the expected transition of the JOTEC portfolio into the U.S. market. This valuation multiple warrants caution, as it implies that any delay in regulatory milestones could lead to a significant contraction in the stock's price-to-earnings multiple.
According to recent financial statements, Artivion's ROIC has struggled to gain traction, hovering at a modest 0.8% in 2026Q1, which indicates that the company has yet to generate meaningful returns on the capital deployed for its strategic pivot toward high-tech aortic device manufacturing.
The low ROIC suggests that the heavy investment in manufacturing infrastructure and the integration of acquired assets are currently acting as a drag on capital efficiency. Investors should monitor whether the company can improve its asset turnover as these new product lines reach higher penetration levels in the domestic market.
As reported in quarterly filings, Artivion's cash conversion cycle remains elevated at 243 days in 2026Q1, primarily driven by a high days-inventory-outstanding metric of 197 days, which reflects the operational challenges of managing a complex, consignment-heavy supply chain for specialized aortic medical devices.
The persistent length of the cash conversion cycle suggests that a significant portion of the company's capital is tied up in inventory, which may be susceptible to obsolescence risks. Improving the efficiency of this cycle is critical for the company to transition toward a more self-sustaining cash flow profile.
The price-to-earnings ratio is frequently misapplied to Artivion, as it obscures the company's underlying cash-generative potential by failing to account for the significant non-cash amortization and acquisition-related expenses that currently depress reported net income during this intensive strategic transition phase.
Investors should instead focus on EV/Sales or adjusted EBITDA metrics to better gauge the company's operational progress. Relying on P/E ratios in this context may lead to an inaccurate assessment of the company's true value, as it ignores the structural shift toward higher-margin proprietary products.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying AORT stock.
Artivion, Inc.'s current P/E ratio is 116.5x. The historical average is 60.0x. This places it at the 82th percentile of its historical range.
Artivion, Inc.'s current EV/EBITDA is 28.7x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 31.2x.
Artivion, Inc.'s return on equity (ROE) is 2.7%. The historical average is -0.4%.
Based on historical data, Artivion, Inc. is trading at a P/E of 116.5x. This is at the 82th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Artivion, Inc. has 61.3% gross margin and 6.1% operating margin.
Artivion, Inc.'s Debt/EBITDA ratio is 5.9x, indicating high leverage. A ratio above 4x may signal elevated financial risk.