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Side-by-side financial comparison of Ellington Financial Inc. (EFC) 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 $78.2M, roughly 1.2× Ellington Financial Inc.). Ellington Financial Inc. runs the higher net margin — 28.9% vs 25.0%, a 3.9% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 8.7%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 1.8%).
Ellington Management Group is an American hedge fund firm. As of June 2019, the firm was reportedly managing $8.5 billion in structured products and other credit instruments.
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.
EFC vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $92.9M |
| Net Profit | $22.6M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 7.4% | 24.1% |
| Net Margin | 28.9% | 25.0% |
| Revenue YoY | 8.7% | 23.3% |
| Net Profit YoY | -26.2% | 17.3% |
| EPS (diluted) | $0.10 | $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 | $78.2M | $92.9M | ||
| Q3 25 | $82.8M | $67.5M | ||
| Q2 25 | $92.5M | $63.2M | ||
| Q1 25 | $82.9M | $52.6M | ||
| Q4 24 | $72.0M | $75.4M | ||
| Q3 24 | $67.0M | $57.9M | ||
| Q2 24 | $91.2M | $52.7M | ||
| Q1 24 | $75.5M | $51.3M |
| Q4 25 | $22.6M | $23.2M | ||
| Q3 25 | $29.5M | $5.1M | ||
| Q2 25 | $42.9M | $-553.0K | ||
| Q1 25 | $31.6M | $-11.2M | ||
| Q4 24 | $30.7M | $19.8M | ||
| Q3 24 | $16.2M | $-901.0K | ||
| Q2 24 | $52.3M | $-4.7M | ||
| Q1 24 | $26.9M | $-3.9M |
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 68.9% |
| Q4 25 | 7.4% | 24.1% | ||
| Q3 25 | 31.1% | 5.1% | ||
| Q2 25 | 38.3% | -3.2% | ||
| Q1 25 | 37.3% | -24.3% | ||
| Q4 24 | 28.0% | 24.5% | ||
| Q3 24 | 24.0% | -4.3% | ||
| Q2 24 | 52.8% | -11.5% | ||
| Q1 24 | 42.2% | -10.7% |
| Q4 25 | 28.9% | 25.0% | ||
| Q3 25 | 35.7% | 7.5% | ||
| Q2 25 | 46.4% | -0.9% | ||
| Q1 25 | 38.2% | -21.4% | ||
| Q4 24 | 42.6% | 26.3% | ||
| Q3 24 | 24.1% | -1.6% | ||
| Q2 24 | 57.4% | -8.9% | ||
| Q1 24 | 35.6% | -7.5% |
| Q4 25 | $0.10 | $0.46 | ||
| Q3 25 | $0.29 | $0.10 | ||
| Q2 25 | $0.45 | $-0.01 | ||
| Q1 25 | $0.35 | $-0.23 | ||
| Q4 24 | $0.23 | $0.40 | ||
| Q3 24 | $0.19 | $-0.02 | ||
| Q2 24 | $0.62 | $-0.10 | ||
| Q1 24 | $0.32 | $-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 | $201.9M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.8B | $354.6M |
| Total Assets | $19.4B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $201.9M | $137.5M | ||
| Q3 25 | $184.8M | $135.4M | ||
| Q2 25 | $211.0M | $116.9M | ||
| Q1 25 | $203.3M | $112.9M | ||
| Q4 24 | $192.4M | $116.2M | ||
| Q3 24 | $217.7M | $101.7M | ||
| Q2 24 | $198.5M | $102.5M | ||
| Q1 24 | $187.5M | $110.6M |
| Q4 25 | $1.8B | $354.6M | ||
| Q3 25 | $1.8B | $321.9M | ||
| Q2 25 | $1.7B | $306.8M | ||
| Q1 25 | $1.6B | $295.5M | ||
| Q4 24 | $1.6B | $292.0M | ||
| Q3 24 | $1.6B | $257.5M | ||
| Q2 24 | $1.6B | $243.0M | ||
| Q1 24 | $1.5B | $233.9M |
| Q4 25 | $19.4B | $488.0M | ||
| Q3 25 | $17.8B | $453.3M | ||
| Q2 25 | $17.1B | $435.6M | ||
| Q1 25 | $16.6B | $424.6M | ||
| Q4 24 | $16.3B | $432.7M | ||
| Q3 24 | $16.0B | $390.4M | ||
| Q2 24 | $15.1B | $376.8M | ||
| Q1 24 | $15.1B | $356.7M |
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 | $-925.5M | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | 0.0% | 2.4% |
| Cash ConversionOCF / Net Profit | -40.92× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-925.5M | $15.0M | ||
| Q3 25 | $-290.4M | $22.1M | ||
| Q2 25 | $-210.5M | $8.2M | ||
| Q1 25 | $-126.4M | $6.6M | ||
| Q4 24 | $-430.5M | $22.2M | ||
| Q3 24 | $-141.7M | $10.2M | ||
| Q2 24 | $-88.6M | $18.5M | ||
| Q1 24 | $-59.5M | $7.2M |
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $-6.8M |
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | -13.3% |
| Q4 25 | 0.0% | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | 0.0% | 18.3% | ||
| Q3 24 | 0.0% | 33.5% | ||
| Q2 24 | 0.0% | 31.8% | ||
| Q1 24 | 0.0% | 27.3% |
| Q4 25 | -40.92× | 0.65× | ||
| Q3 25 | -9.84× | 4.35× | ||
| Q2 25 | -4.90× | — | ||
| Q1 25 | -3.99× | — | ||
| Q4 24 | -14.04× | 1.12× | ||
| Q3 24 | -8.76× | — | ||
| Q2 24 | -1.69× | — | ||
| Q1 24 | -2.21× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EFC
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
