VCEL · Nasdaq · Healthcare
Vericel Corporation (VCEL) — Rank #126 by gross profitability (GP/assets 0.41) · ROE 4.5% · Piotroski F-Score N/A.
As-of 2026-10-30 · CIK 0000887359 · all metrics point-in-time as of the filing date.
About
Vericel Corporation, a commercial-stage biopharmaceutical company, engages in the research, development, manufacture, and distribution of cellular therapies and specialty biologic products for sports medicine and severe burn care markets in North America.
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The company markets autologous cell therapy products comprising MACI, an autologous cultured chondrocytes on porcine collagen membrane for the repair of symptomatic, and single or multiple full-thickness cartilage defects of the knee; Epicel, a permanent skin replacement humanitarian use device for the treatment of adult and pediatric patients with deep-dermal or full-thickness burns; and NexoBrid, a biological orphan product for eschar removal in adults and pediatric patients with deep partial-thickness and/or full-thickness thermal burns. Vericel Corporation was formerly known as Aastrom Biosciences, Inc. and changed its name to Vericel Corporation in November 2014.
The company was incorporated in 1989 and is headquartered in Burlington, Massachusetts.
- Industry
- Biotechnology
- Sector
- Healthcare
- State
- MI
- Filer Category
- Large accelerated filer
- Fiscal Year End
- December 31
- Website
- vcel.com
Company Snapshot
P/E and reverse DCF are the primary valuation lenses at this stage.
Market Cap
—
P/E (annual)
—
P/S (annual)
—
P/B
—
P/OCF (annual)
—
Shareholder Yield
—
Employees
398
Industry
Biotechnology
Exchange
Nasdaq
11/11
Flags passed
VCEL passes 11/11 quality flags
- PASSGross margin holding
- PASSDilution within 2%
- PASSFCF not negative from investment
- PASSDisclosure consistent
- PASSRevenue not declining
- PASSOperating margin holding
- PASSFree cash flow intact
- PASSPasses safety gate
- PASSNo competitive retreat
- PASSSBC not compressing margin
- PASSNo valuation convergence
Strengths Operating leverage expanding · Sequential beat (rev + EPS)
No data Balance sheet — not counted as a pass.
A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
2/2 passOperating margin expansion and free cash flow are the primary reads at this stage.
Profitability
Does it make money well?
No warning flags · GP/assets 0.41
Gross profitability (GP / assets)
0.41
Primary signal (Novy-Marx).
2nd of 5 SIC 2836 peers
Return on equity
4.5%
Gross margin
74.4%
2nd of 5 SIC 2836 peers
Revenue growth (YoY)
16.5%
Gross margin improving
Margin trend vs prior year.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| Revenue vs COGS | ||||
| Revenue vs OpEx | ||||
| Op. Income vs Revenue |
Growth
Revenue CAGR (3Y)
18.9%
Revenue CAGR (5Y)
17.3%
Earnings CAGR (3Y)
—
FCF CAGR (3Y)
34.9%
Cash Flow Health
Is the cash real?
No warning flags · FCF 50% above net income
Free cash flow
$24.75M
Operating cash flow minus capex.
Positive free cash flow
FCF vs net income
49.8%
(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.
FCF not below net income
Fails when free cash flow is below net income (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
14.0%
Stock-based comp intensity.
Balance Sheet Strength
Can it survive a storm?
No warning flags · net cash $162.46M
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
0.36
Current ratio
5.04×
2nd of 5 SIC 2836 peers
Quick ratio
4.53×
Net cash
$162.46M
Cash & equivalents minus total debt.
Piotroski F-Score
N/A
Only 8/9 components determinable.
Valuation
Is the price reasonable?
No warning flags
Capital allocation quality
Composite score
3.0 / 5
Lifecycle Phase History
Price History
Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports