AORT Healthcare

Artivion, Inc.

$23.71+0.55%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Healthcare
Industry: Medical Devices
Country: United States
Market cap: 1.2B USD
Enterprise value: 1.3B USD
Full-time employees: 1,800

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.22 vs a peer median of 0.63) and more debt relative to equity (0.82× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.22 vs peers 0.63) and more debt vs equity (0.82× vs peers 0.22×)
About average: profitability

Ranks #798 of 1,157 healthcare companies (bottom 32%)

See how it ranks against its peers

Worth knowing

Investment surge. Capital spending 8.8% of revenue, up from 3.4% in 2022.
Artivion is spending 8.8% of revenue on facilities and equipment, up from 3.4% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Artivion looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Profits growing faster than sales. Since 2022: revenue +41%, operating profit +444%.
Since 2022, Artivion's revenue grew 41% while operating profit grew 444%: each extra dollar of sales is adding more profit.
Not profitable yet. Reported a loss in the 12 months to June 2026.
Artivion reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

StockQuotient Score

42/ 100

Oct 5 42 → Nov 4 42

Valuation

Is the price right?

40/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Held back by:

▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-0.3%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0148 · MAD: 0.0148

EBITDA yield3.1%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.22Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield-0.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield38.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

65/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.8%

Why

Stronger than most peers on:

▲ Revenue growth
▲ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.29Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth12.8%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 0.82Sector median: 0.0584 · MAD: 0.0840

Revenue growth16.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.06Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

41/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Turned to a loss over the last 12 months
Operating margin fell 3.8 points to 4.4%
Free cash flow turned negative over the last 12 months

Why it changed since the Oct 27, 2026 close: Score 40 → 41

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin4.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.22Sector median: 0.0706 · MAD: 0.1217

Return on assets-0.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.36Sector median: 0.0166 · MAD: 0.0537

Return on invested capital2.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.25Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin64.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-0.7%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Debt up 69%
Operating profit now covers interest only 0.9x

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.22

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.77Sector median: 0.6250 · MAD: 0.3380

Current ratio3.47×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.64Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.82×

SEC filings · latest balance sheetReported value33% base weight · Z-score -2.91Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Artivion

Is Artivion getting weaker?: Its latest SEC filing (Aug 7, 2026) got weaker in some ways: turned to a loss over the last 12 months; operating margin fell 3.8 points to 4.4%. Its overall score is unchanged at 42/100 since Oct 28, 2026.
How is Artivion valued vs its peers?: Priced about in line with its peers. Valuation scores 40/100 against 1,393 healthcare peers. Earnings yield -0.3% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -0.3% vs peers 1.5% (weaker than 100% of peers).
Is Artivion growing?: Yes, faster than most of its peers. Growth scores 65/100 against 1,393 healthcare peers. Revenue growth 16.4% vs a peer median of 6.1% (stronger than 74% of peers).Revenue growth 16.4% vs peers 6.1% (stronger than 74% of peers).
How profitable is Artivion?: About as profitable as its peers. Profitability scores 41/100 against 1,393 healthcare peers.
How risky is Artivion?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 3.47× vs a peer median of 2.59× (stronger than 61% of peers).Current ratio 3.47× vs peers 2.59× (stronger than 61% of peers). Beta 1.22 vs a peer median of 0.63 (weaker than 81% of peers).Beta 1.22 vs peers 0.63 (weaker than 81% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 7, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Turned to a loss over the last 12 months
Operating margin fell 3.8 points to 4.4%
Debt up 69%
Free cash flow turned negative over the last 12 months
Operating profit now covers interest only 0.9x

	Previous quarter	Latest quarter	Change
Revenue (12 months)	458.7M USD	471.5M USD	+2.8%
Net income (12 months)	11.7M USD	−3.2M USD	turned negative
Operating margin	8.2%	4.4%	−3.8 pts
Free cash flow (12 months)	14.6M USD	−9.2M USD	turned negative
Debt	215.4M USD	363.4M USD	+68.8%
Cash	55.8M USD	77.3M USD	+38.6%
Shares outstanding	48.5M	48.8M	+0.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Medical Devices · 33 companies

Valuations in Medical Devices are near the bottom of their range since 2016.

7% of months since 2016 were valued lower than now.
4% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −8% and earnings +33% (medians): earnings grew faster than prices.
Median price-to-sales is +20% vs the whole market, against a usual +109%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	66.1%	64.5%	64.7%	64.0%	64.4%	▲ 0.4 pts
Operating margin	2.7%	2.0%	1.6%	10.0%	7.6%	▼ 2.4 pts
Net margin	-5.0%	-6.1%	-8.7%	-3.4%	2.2%	▲ 5.7 pts
Return on assets (ROA)	-1.9%	-2.5%	-3.9%	-1.7%	1.1%	▲ 2.8 pts
Return on equity (ROE)	-4.9%	-6.7%	-10.9%	-4.8%	2.2%	▲ 7.0 pts
Free cash flow margin	-5.2%	-5.1%	2.6%	2.8%	0.2%	▼ 2.7 pts
Current ratio	5.51×	4.98×	4.85×	4.34×	3.53×	▼ 19%
Quick ratio	3.80×	3.48×	3.43×	3.15×	2.62×	▼ 17%
Debt to equity	1.03×	1.08×	1.09×	1.14×	0.48×	▼ 58%
Interest coverage	0.48×	0.34×	0.23×	1.13×	1.27×	▲ 12%

AORT price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

BB Biotech AGBBZA.DE100/ 100

Arbutus Biopharma CorporationABUS97/ 100

Q32 Bio Inc.QTTB97/ 100

Bringing the fundamentals into focus…

Overall health

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.22 vs a peer median of 0.63) and more debt relative to equity (0.82× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.22 vs peers 0.63) and more debt vs equity (0.82× vs peers 0.22×)

About average: profitability

Ranks #798 of 1,157 healthcare companies (bottom 32%)

See how it ranks against its peers

Worth knowing

Investment surge. Capital spending 8.8% of revenue, up from 3.4% in 2022.

Artivion is spending 8.8% of revenue on facilities and equipment, up from 3.4% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Artivion looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Profits growing faster than sales. Since 2022: revenue +41%, operating profit +444%.

Since 2022, Artivion's revenue grew 41% while operating profit grew 444%: each extra dollar of sales is adding more profit.

Not profitable yet. Reported a loss in the 12 months to June 2026.

Artivion reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Questions investors ask about Artivion

Is Artivion getting weaker?

Its latest SEC filing (Aug 7, 2026) got weaker in some ways: turned to a loss over the last 12 months; operating margin fell 3.8 points to 4.4%. Its overall score is unchanged at 42/100 since Oct 28, 2026.

How is Artivion valued vs its peers?

Priced about in line with its peers. Valuation scores 40/100 against 1,393 healthcare peers. Earnings yield -0.3% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -0.3% vs peers 1.5% (weaker than 100% of peers).

Is Artivion growing?

Yes, faster than most of its peers. Growth scores 65/100 against 1,393 healthcare peers. Revenue growth 16.4% vs a peer median of 6.1% (stronger than 74% of peers).Revenue growth 16.4% vs peers 6.1% (stronger than 74% of peers).

How profitable is Artivion?

About as profitable as its peers. Profitability scores 41/100 against 1,393 healthcare peers.

How risky is Artivion?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 3.47× vs a peer median of 2.59× (stronger than 61% of peers).Current ratio 3.47× vs peers 2.59× (stronger than 61% of peers). Beta 1.22 vs a peer median of 0.63 (weaker than 81% of peers).Beta 1.22 vs peers 0.63 (weaker than 81% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

458.7M USD

471.5M USD

+2.8%

Net income (12 months)

11.7M USD

−3.2M USD

turned negative

Operating margin

8.2%

4.4%

−3.8 pts

Free cash flow (12 months)

14.6M USD

−9.2M USD

turned negative

Debt

215.4M USD

363.4M USD

+68.8%

Cash

55.8M USD

77.3M USD

+38.6%

Shares outstanding

48.5M

48.8M

+0.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

66.1%

64.5%

64.7%

64.0%

64.4%

▲ 0.4 pts

Operating margin

2.7%

2.0%

1.6%

10.0%

7.6%

▼ 2.4 pts

Net margin

-5.0%

-6.1%

-8.7%

-3.4%

2.2%

▲ 5.7 pts

Return on assets (ROA)

-1.9%

-2.5%

-3.9%

-1.7%

1.1%

▲ 2.8 pts

Return on equity (ROE)

-4.9%

-6.7%

-10.9%

-4.8%

2.2%

▲ 7.0 pts

Free cash flow margin

-5.2%

-5.1%

2.6%

2.8%

0.2%

▼ 2.7 pts

Current ratio

5.51×

4.98×

4.85×

4.34×

3.53×

▼ 19%

Quick ratio

3.80×

3.48×

3.43×

3.15×

2.62×

▼ 17%

Debt to equity

1.03×

1.08×

1.09×

1.14×

0.48×

▼ 58%

Interest coverage

0.48×

0.34×

0.23×

1.13×

1.27×

▲ 12%