AORT
ARTIVION, INC.
Next earnings Aug 5, 2026 · consensus $0.02 EPS, $122M rev
Last earnings +2.0% on 2026-05-07
$23.97
▲ +7.06%$23.97▼ -23.15%
over 1Y
L $20.10H $47.63
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+7.1%
1W+5.8%
1M+17.4%
3M-29.9%
YTD-46.1%
1Y-23.1%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 14 analysts
Buy
Aortic-focused medtech finally crossed into GAAP profitability on 14% revenue growth, but a 108x P/E already prices in the turnaround.
Revenue $441M · FY2025
The read
Middling fundamentals and a rich price (~69% above fair value) leave little margin of safety — a wait-and-see.
Artivion is a specialty cardiac/vascular medtech with a focused franchise — aortic stent grafts (E-vita, NEXUS, E-nside), On-X mechanical heart valves, BioGlue surgical sealant, and preserved human cardiac/vascular tissues. The MD&A confirms FY2025 revenue of $441.3M (+14%, +13% ex-FX) was driven by the higher-margin stent grafts, On-X and sealants, partially offset by weakness in 'other products and preservation services' and 'limited impacts resulting from the Cybersecurity incident.' That is a real disclosure — cyber disruption hit the top line and is a reminder of operational fragility in a tissue-processing business.
The numbers tell a credible inflection story: after four straight years of GAAP losses (FY21 -$14.8M, FY22 -$19.2M, FY23 -$30.7M, FY24 -$13.4M), the company posted +$9.8M net income in FY25, and operating cash flow jumped 79% to $39.9M. The balance sheet was materially strengthened — long-term debt fell 31.5% to $215M, equity rose 62.3% to $448M (implying a meaningful equity raise, consistent with diluted shares up 13.9% to 47.9M), and liabilities/equity dropped to 0.97x. Gross margin of 64.4% is healthy for the device mix. Those are the marks of a company moving from 'turnaround' to 'execute.'
Is AORT a buy? The one-page verdict, explained →
The options angle
model · matches our verdictCovered call~60d expiry
- Long 100 shares @ ~23.97
- Short call 25 @ ~1.70 est
debit $2,227max +$273max −$2,226BE 22.27
HOLD means own it, don't chase it — harvesting premium against the position matches the verdict.
Educational template, not a trade recommendation. Strikes and premiums are Black-Scholes model estimates from the last close and 30-day realized volatility — real chains, spreads and IV will differ. Options involve substantial risk.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $299M | $314M | $354M | $389M | $441M |
| Gross profit | $198M | $203M | $229M | $249M | $284M |
| Operating income | $8.12M | $6.20M | $5.74M | $38.9M | $33.7M |
| Net income | -$14.8M | -$19.2M | -$30.7M | -$13.4M | $9.77M |
| Diluted EPS | -$0.38 | -$0.48 | -$0.75 | -$0.32 | $0.21 |
| Net margin | -5.0% | -6.1% | -8.7% | -3.4% | 2.2% |
10-year statements — income, cash flow, balance sheet & CSV export →
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$1.31B
EV / EBITDA23.4
EV / Sales3.0
EV / FCF1565.9
P / FCF1386.9
PEG (trailing)0.66
Earnings yield0.8%
FCF yield0.1%
Quality & risk
ROIC (est.)4.0%
Free cash flow$839K
Total debt$215M
Net cash-$150M
Altman Z-Score2.49 grey
Piotroski F-Score7/9
Capital returns
Buyback yield0.5%
Dividend yield (est.)0.3%
Shareholder yield0.8%
Shares Δ YoY+13.9%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Reg FD disclosure2026-05-18
Reg FD/other disclosure with exhibits; likely investor presentation or non-material update
- 8-K Shareholder vote2026-05-15
Annual meeting vote results disclosed; routine governance outcome
- 10-Q Quarterly report2026-05-08
Q1'26 10-Q: continued top-line growth post-cyber incident; balance sheet healthier
- 8-K Material agreement2026-05-07
Q1'26 earnings release plus new material agreement signed
- DEF 14A Proxy statement2026-04-01
Proxy: routine board/exec comp matters ahead of annual meeting
- 10-K Annual report2026-02-18
FY25 10-K: rev $441M (+14%), first net profit ($9.8M), LT debt cut 31% to $215M
- 8-K Earnings results2026-02-12
Q4'25 earnings release: FY rev +14% to $441M, swung to $9.8M net income
- 10-Q Quarterly report2025-11-07
Q3'25 10-Q: revenue growth on track; cyber incident had limited impact
- 8-K Earnings results2025-11-06
Q3'25 earnings release; revenue growth continuing toward FY +14%
Recent filings
all on EDGAR ↗4Period ending 2026-06-112026-06-15open ↗144Filing2026-06-11open ↗3Period ending 2026-06-012026-06-08open ↗4Period ending 2026-06-022026-06-04open ↗SDFiling2026-05-21open ↗4/APeriod ending 2026-05-182026-05-20open ↗4Period ending 2026-05-182026-05-20open ↗4Period ending 2026-05-182026-05-20open ↗4Period ending 2026-05-182026-05-20open ↗4Period ending 2026-05-182026-05-20open ↗4Period ending 2026-05-182026-05-20open ↗4Period ending 2026-05-182026-05-20open ↗
Frequently asked
- Is ARTIVION, INC. (AORT) a buy?
- AORT currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Aortic-focused medtech finally crossed into GAAP profitability on 14% revenue growth, but a 108x P/E already prices in the turnaround.
- What is AORT's fair value?
- A Modified-Graham model based on AORT's SEC fundamentals estimates a fair value of about $7.45. It is an estimate from reported earnings, not a price target.
- Is AORT overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, AORT currently appears overvalued relative to its SEC-grounded earnings power.
- What is ARTIVION, INC.'s quality score?
- AORT scores 60.41786774923789/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0000784199, latest 10-Q filed 2026-05-08) · EODHD · Proprietary analysis · as of 6/25/2026, 2:15:26 PM.
About this recommendation — produced by TENK/calls (tenkcalls.com), Luxembourg · not investment advice
AI-generated analysis, produced by our proprietary engine from SEC filing data.
Investment recommendation produced by TENK/calls (tenkcalls.com), Luxembourg. Completed Jun 25, 2026, 10:15 AM ET. Ratings & methodology: definitions · All recommendations to date: track record · Conflicts: disclosures. Not investment advice.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.