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Side-by-side financial comparison of SAUL CENTERS, INC. (BFS) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Vericel Corp is the larger business by last-quarter revenue ($92.9M vs $75.1M, roughly 1.2× SAUL CENTERS, INC.). Vericel Corp runs the higher net margin — 25.0% vs 8.7%, a 16.4% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 10.6%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 6.2%).
Saul Centers, Inc. is a self-administered real estate investment trust (REIT) headquartered in the United States. It primarily owns, operates, and develops high-quality shopping centers, mixed-use properties, and multifamily residential assets, with its core portfolio concentrated in the Washington D.C. metropolitan area and other select high-growth U.S. regional markets.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
BFS vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $92.9M |
| Net Profit | $6.5M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 65.4% | 24.1% |
| Net Margin | 8.7% | 25.0% |
| Revenue YoY | 10.6% | 23.3% |
| Net Profit YoY | -19.6% | 17.3% |
| EPS (diluted) | $0.15 | $0.46 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $75.1M | $92.9M | ||
| Q3 25 | $72.0M | $67.5M | ||
| Q2 25 | $70.8M | $63.2M | ||
| Q1 25 | $71.9M | $52.6M | ||
| Q4 24 | $67.9M | $75.4M | ||
| Q3 24 | $67.3M | $57.9M | ||
| Q2 24 | $66.9M | $52.7M | ||
| Q1 24 | $66.7M | $51.3M |
| Q4 25 | $6.5M | $23.2M | ||
| Q3 25 | $10.5M | $5.1M | ||
| Q2 25 | $10.7M | $-553.0K | ||
| Q1 25 | $9.8M | $-11.2M | ||
| Q4 24 | $8.1M | $19.8M | ||
| Q3 24 | $14.5M | $-901.0K | ||
| Q2 24 | $14.4M | $-4.7M | ||
| Q1 24 | $13.6M | $-3.9M |
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | 73.6% | 71.9% | ||
| Q2 24 | 74.2% | 69.5% | ||
| Q1 24 | 72.8% | 68.9% |
| Q4 25 | 65.4% | 24.1% | ||
| Q3 25 | 69.1% | 5.1% | ||
| Q2 25 | 68.7% | -3.2% | ||
| Q1 25 | 66.5% | -24.3% | ||
| Q4 24 | 82.9% | 24.5% | ||
| Q3 24 | 72.8% | -4.3% | ||
| Q2 24 | 75.0% | -11.5% | ||
| Q1 24 | 72.4% | -10.7% |
| Q4 25 | 8.7% | 25.0% | ||
| Q3 25 | 14.6% | 7.5% | ||
| Q2 25 | 15.1% | -0.9% | ||
| Q1 25 | 13.6% | -21.4% | ||
| Q4 24 | 11.9% | 26.3% | ||
| Q3 24 | 21.5% | -1.6% | ||
| Q2 24 | 21.6% | -8.9% | ||
| Q1 24 | 20.4% | -7.5% |
| Q4 25 | $0.15 | $0.46 | ||
| Q3 25 | $0.32 | $0.10 | ||
| Q2 25 | $0.33 | $-0.01 | ||
| Q1 25 | $0.29 | $-0.23 | ||
| Q4 24 | $0.22 | $0.40 | ||
| Q3 24 | $0.48 | $-0.02 | ||
| Q2 24 | $0.48 | $-0.10 | ||
| Q1 24 | $0.45 | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $8.7M | $137.5M |
| Total DebtLower is stronger | $468.4M | — |
| Stockholders' EquityBook value | $307.8M | $354.6M |
| Total Assets | $2.2B | $488.0M |
| Debt / EquityLower = less leverage | 1.52× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $137.5M | ||
| Q3 25 | $11.8M | $135.4M | ||
| Q2 25 | $5.3M | $116.9M | ||
| Q1 25 | $6.5M | $112.9M | ||
| Q4 24 | $10.3M | $116.2M | ||
| Q3 24 | $7.2M | $101.7M | ||
| Q2 24 | $6.9M | $102.5M | ||
| Q1 24 | $7.1M | $110.6M |
| Q4 25 | $468.4M | — | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $455.8M | — | ||
| Q3 24 | $1.5B | — | ||
| Q2 24 | $1.4B | — | ||
| Q1 24 | $1.4B | — |
| Q4 25 | $307.8M | $354.6M | ||
| Q3 25 | $316.6M | $321.9M | ||
| Q2 25 | $322.4M | $306.8M | ||
| Q1 25 | $328.4M | $295.5M | ||
| Q4 24 | $335.8M | $292.0M | ||
| Q3 24 | $341.8M | $257.5M | ||
| Q2 24 | $345.7M | $243.0M | ||
| Q1 24 | $347.1M | $233.9M |
| Q4 25 | $2.2B | $488.0M | ||
| Q3 25 | $2.2B | $453.3M | ||
| Q2 25 | $2.1B | $435.6M | ||
| Q1 25 | $2.1B | $424.6M | ||
| Q4 24 | $2.1B | $432.7M | ||
| Q3 24 | $2.1B | $390.4M | ||
| Q2 24 | $2.1B | $376.8M | ||
| Q1 24 | $2.0B | $356.7M |
| Q4 25 | 1.52× | — | ||
| Q3 25 | 5.02× | — | ||
| Q2 25 | 4.85× | — | ||
| Q1 25 | 4.70× | — | ||
| Q4 24 | 1.36× | — | ||
| Q3 24 | 4.37× | — | ||
| Q2 24 | 4.17× | — | ||
| Q1 24 | 4.06× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $99.8M | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 15.35× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.8M | $15.0M | ||
| Q3 25 | $20.6M | $22.1M | ||
| Q2 25 | $26.6M | $8.2M | ||
| Q1 25 | $30.4M | $6.6M | ||
| Q4 24 | $121.2M | $22.2M | ||
| Q3 24 | $26.5M | $10.2M | ||
| Q2 24 | $32.1M | $18.5M | ||
| Q1 24 | $33.8M | $7.2M |
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | $-28.3M | $-9.2M | ||
| Q2 24 | $-12.5M | $1.8M | ||
| Q1 24 | $-11.7M | $-6.8M |
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | -42.1% | -15.9% | ||
| Q2 24 | -18.7% | 3.4% | ||
| Q1 24 | -17.6% | -13.3% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | 81.5% | 33.5% | ||
| Q2 24 | 66.7% | 31.8% | ||
| Q1 24 | 68.3% | 27.3% |
| Q4 25 | 15.35× | 0.65× | ||
| Q3 25 | 1.97× | 4.35× | ||
| Q2 25 | 2.48× | — | ||
| Q1 25 | 3.10× | — | ||
| Q4 24 | 14.98× | 1.12× | ||
| Q3 24 | 1.83× | — | ||
| Q2 24 | 2.22× | — | ||
| Q1 24 | 2.48× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BFS
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
