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Side-by-side financial comparison of Four Corners Property Trust, Inc. (FCPT) 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× Four Corners Property Trust, Inc.). Four Corners Property Trust, Inc. runs the higher net margin — 38.8% vs 25.0%, a 13.8% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 9.4%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 8.4%).
Four Corners Property Trust, Inc. is a publicly traded real estate investment trust that acquires, owns, and manages a portfolio of high-quality net-leased commercial properties. Its assets are primarily restaurant and retail locations across the United States, with tenants largely operating in stable consumer-facing industry segments with proven operational performance.
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.
FCPT vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $78.2M | $92.9M |
| Net Profit | $30.4M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 55.3% | 24.1% |
| Net Margin | 38.8% | 25.0% |
| Revenue YoY | 9.4% | 23.3% |
| Net Profit YoY | 16.0% | 17.3% |
| EPS (diluted) | $0.28 | $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.
| Q1 26 | $78.2M | — | ||
| Q4 25 | $75.7M | $92.9M | ||
| Q3 25 | $74.1M | $67.5M | ||
| Q2 25 | $72.8M | $63.2M | ||
| Q1 25 | $71.5M | $52.6M | ||
| Q4 24 | $68.3M | $75.4M | ||
| Q3 24 | $66.8M | $57.9M | ||
| Q2 24 | $66.5M | $52.7M |
| Q1 26 | $30.4M | — | ||
| Q4 25 | $29.4M | $23.2M | ||
| Q3 25 | $28.8M | $5.1M | ||
| Q2 25 | $27.9M | $-553.0K | ||
| Q1 25 | $26.2M | $-11.2M | ||
| Q4 24 | $26.2M | $19.8M | ||
| Q3 24 | $25.6M | $-901.0K | ||
| Q2 24 | $24.7M | $-4.7M |
| Q1 26 | — | — | ||
| 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 26 | 55.3% | — | ||
| Q4 25 | — | 24.1% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | — | -3.2% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | — | 24.5% | ||
| Q3 24 | — | -4.3% | ||
| Q2 24 | — | -11.5% |
| Q1 26 | 38.8% | — | ||
| Q4 25 | 38.9% | 25.0% | ||
| Q3 25 | 38.9% | 7.5% | ||
| Q2 25 | 38.3% | -0.9% | ||
| Q1 25 | 36.6% | -21.4% | ||
| Q4 24 | 38.3% | 26.3% | ||
| Q3 24 | 38.3% | -1.6% | ||
| Q2 24 | 37.1% | -8.9% |
| Q1 26 | $0.28 | — | ||
| Q4 25 | $0.27 | $0.46 | ||
| Q3 25 | $0.28 | $0.10 | ||
| Q2 25 | $0.28 | $-0.01 | ||
| Q1 25 | $0.26 | $-0.23 | ||
| Q4 24 | $0.27 | $0.40 | ||
| Q3 24 | $0.27 | $-0.02 | ||
| Q2 24 | $0.27 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.6M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.7B | $354.6M |
| Total Assets | $3.0B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $29.6M | — | ||
| Q4 25 | $12.1M | $137.5M | ||
| Q3 25 | $6.7M | $135.4M | ||
| Q2 25 | $6.0M | $116.9M | ||
| Q1 25 | $22.3M | $112.9M | ||
| Q4 24 | $4.1M | $116.2M | ||
| Q3 24 | $44.5M | $101.7M | ||
| Q2 24 | $17.2M | $102.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | — | ||
| Q3 25 | $1.2B | — | ||
| Q2 25 | $1.2B | — | ||
| Q1 25 | $1.2B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.2B | — |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.6B | $354.6M | ||
| Q3 25 | $1.5B | $321.9M | ||
| Q2 25 | $1.5B | $306.8M | ||
| Q1 25 | $1.4B | $295.5M | ||
| Q4 24 | $1.5B | $292.0M | ||
| Q3 24 | $1.4B | $257.5M | ||
| Q2 24 | $1.3B | $243.0M |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $488.0M | ||
| Q3 25 | $2.8B | $453.3M | ||
| Q2 25 | $2.8B | $435.6M | ||
| Q1 25 | $2.7B | $424.6M | ||
| Q4 24 | $2.7B | $432.7M | ||
| Q3 24 | $2.6B | $390.4M | ||
| Q2 24 | $2.5B | $376.8M |
| Q1 26 | — | — | ||
| Q4 25 | 0.74× | — | ||
| Q3 25 | 0.79× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | 0.84× | — | ||
| Q4 24 | 0.78× | — | ||
| Q3 24 | 0.84× | — | ||
| Q2 24 | 0.92× | — |
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 | — | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $192.3M | $15.0M | ||
| Q3 25 | $48.9M | $22.1M | ||
| Q2 25 | $43.8M | $8.2M | ||
| Q1 25 | $51.6M | $6.6M | ||
| Q4 24 | $144.1M | $22.2M | ||
| Q3 24 | $43.4M | $10.2M | ||
| Q2 24 | $39.7M | $18.5M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 31.8% |
| Q1 26 | — | — | ||
| Q4 25 | 6.53× | 0.65× | ||
| Q3 25 | 1.70× | 4.35× | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.97× | — | ||
| Q4 24 | 5.51× | 1.12× | ||
| Q3 24 | 1.70× | — | ||
| Q2 24 | 1.61× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FCPT
| Rental revenue | $69.8M | 89% |
| Restaurant revenue | $8.4M | 11% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
