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Side-by-side financial comparison of GCM Grosvenor Inc. (GCMG) and Vericel Corp (VCEL). Click either name above to swap in a different company.
GCM Grosvenor Inc. is the larger business by last-quarter revenue ($177.1M vs $92.9M, roughly 1.9× Vericel Corp). GCM Grosvenor Inc. runs the higher net margin — 32.8% vs 25.0%, a 7.8% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 7.2%). GCM Grosvenor Inc. produced more free cash flow last quarter ($175.0M vs $12.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 27.5%).
GCM Grosvenor is an American alternative asset management firm, with approximately $76 billion in assets under management and approximately 530 professionals as of 2023.
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.
GCMG vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $177.1M | $92.9M |
| Net Profit | $58.2M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 30.9% | 24.1% |
| Net Margin | 32.8% | 25.0% |
| Revenue YoY | 7.2% | 23.3% |
| Net Profit YoY | 149.2% | 17.3% |
| EPS (diluted) | $0.23 | $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 | $177.1M | $92.9M | ||
| Q3 25 | $135.0M | $67.5M | ||
| Q2 25 | $119.7M | $63.2M | ||
| Q1 25 | $125.8M | $52.6M | ||
| Q4 24 | $165.3M | $75.4M | ||
| Q3 24 | $122.9M | $57.9M | ||
| Q2 24 | $117.0M | $52.7M | ||
| Q1 24 | $108.9M | $51.3M |
| Q4 25 | $58.2M | $23.2M | ||
| Q3 25 | $10.5M | $5.1M | ||
| Q2 25 | $15.4M | $-553.0K | ||
| Q1 25 | $463.0K | $-11.2M | ||
| Q4 24 | $7.6M | $19.8M | ||
| Q3 24 | $4.2M | $-901.0K | ||
| Q2 24 | $4.8M | $-4.7M | ||
| Q1 24 | $2.1M | $-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 | 30.9% | 24.1% | ||
| Q3 25 | 32.7% | 5.1% | ||
| Q2 25 | 16.1% | -3.2% | ||
| Q1 25 | 12.2% | -24.3% | ||
| Q4 24 | 26.4% | 24.5% | ||
| Q3 24 | 20.3% | -4.3% | ||
| Q2 24 | 17.8% | -11.5% | ||
| Q1 24 | -14.7% | -10.7% |
| Q4 25 | 32.8% | 25.0% | ||
| Q3 25 | 7.8% | 7.5% | ||
| Q2 25 | 12.9% | -0.9% | ||
| Q1 25 | 0.4% | -21.4% | ||
| Q4 24 | 4.6% | 26.3% | ||
| Q3 24 | 3.4% | -1.6% | ||
| Q2 24 | 4.1% | -8.9% | ||
| Q1 24 | 2.0% | -7.5% |
| Q4 25 | $0.23 | $0.46 | ||
| Q3 25 | $0.16 | $0.10 | ||
| Q2 25 | $0.05 | $-0.01 | ||
| Q1 25 | $-0.02 | $-0.23 | ||
| Q4 24 | $0.09 | $0.40 | ||
| Q3 24 | $0.03 | $-0.02 | ||
| Q2 24 | $0.04 | $-0.10 | ||
| Q1 24 | $-0.13 | $-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 | $242.1M | $137.5M |
| Total DebtLower is stronger | $428.4M | — |
| Stockholders' EquityBook value | $27.0M | $354.6M |
| Total Assets | $813.8M | $488.0M |
| Debt / EquityLower = less leverage | 15.87× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $242.1M | $137.5M | ||
| Q3 25 | $182.7M | $135.4M | ||
| Q2 25 | $136.3M | $116.9M | ||
| Q1 25 | $94.5M | $112.9M | ||
| Q4 24 | $89.5M | $116.2M | ||
| Q3 24 | $98.4M | $101.7M | ||
| Q2 24 | $73.9M | $102.5M | ||
| Q1 24 | $41.9M | $110.6M |
| Q4 25 | $428.4M | — | ||
| Q3 25 | $429.3M | — | ||
| Q2 25 | $430.2M | — | ||
| Q1 25 | $431.1M | — | ||
| Q4 24 | $432.0M | — | ||
| Q3 24 | $432.9M | — | ||
| Q2 24 | $433.8M | — | ||
| Q1 24 | $384.0M | — |
| Q4 25 | $27.0M | $354.6M | ||
| Q3 25 | $-7.4M | $321.9M | ||
| Q2 25 | $-12.3M | $306.8M | ||
| Q1 25 | $-28.3M | $295.5M | ||
| Q4 24 | $-27.6M | $292.0M | ||
| Q3 24 | $-31.9M | $257.5M | ||
| Q2 24 | $-28.5M | $243.0M | ||
| Q1 24 | $-26.4M | $233.9M |
| Q4 25 | $813.8M | $488.0M | ||
| Q3 25 | $685.9M | $453.3M | ||
| Q2 25 | $636.9M | $435.6M | ||
| Q1 25 | $579.8M | $424.6M | ||
| Q4 24 | $612.7M | $432.7M | ||
| Q3 24 | $575.0M | $390.4M | ||
| Q2 24 | $543.9M | $376.8M | ||
| Q1 24 | $497.3M | $356.7M |
| Q4 25 | 15.87× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $183.5M | $15.0M |
| Free Cash FlowOCF − Capex | $175.0M | $12.8M |
| FCF MarginFCF / Revenue | 98.8% | 13.8% |
| Capex IntensityCapex / Revenue | 4.8% | 2.4% |
| Cash ConversionOCF / Net Profit | 3.16× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $326.2M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $183.5M | $15.0M | ||
| Q3 25 | $79.8M | $22.1M | ||
| Q2 25 | $42.0M | $8.2M | ||
| Q1 25 | $33.3M | $6.6M | ||
| Q4 24 | $148.8M | $22.2M | ||
| Q3 24 | $69.0M | $10.2M | ||
| Q2 24 | $17.5M | $18.5M | ||
| Q1 24 | $24.2M | $7.2M |
| Q4 25 | $175.0M | $12.8M | ||
| Q3 25 | $78.3M | $19.5M | ||
| Q2 25 | $40.8M | $81.0K | ||
| Q1 25 | $32.1M | $-7.6M | ||
| Q4 24 | $132.0M | $8.5M | ||
| Q3 24 | $62.2M | $-9.2M | ||
| Q2 24 | $12.8M | $1.8M | ||
| Q1 24 | $20.0M | $-6.8M |
| Q4 25 | 98.8% | 13.8% | ||
| Q3 25 | 58.0% | 28.8% | ||
| Q2 25 | 34.1% | 0.1% | ||
| Q1 25 | 25.5% | -14.5% | ||
| Q4 24 | 79.9% | 11.2% | ||
| Q3 24 | 50.6% | -15.9% | ||
| Q2 24 | 10.9% | 3.4% | ||
| Q1 24 | 18.4% | -13.3% |
| Q4 25 | 4.8% | 2.4% | ||
| Q3 25 | 1.1% | 3.9% | ||
| Q2 25 | 1.0% | 12.9% | ||
| Q1 25 | 0.9% | 27.0% | ||
| Q4 24 | 10.1% | 18.3% | ||
| Q3 24 | 5.5% | 33.5% | ||
| Q2 24 | 4.0% | 31.8% | ||
| Q1 24 | 3.9% | 27.3% |
| Q4 25 | 3.16× | 0.65× | ||
| Q3 25 | 7.61× | 4.35× | ||
| Q2 25 | 2.72× | — | ||
| Q1 25 | 71.84× | — | ||
| Q4 24 | 19.54× | 1.12× | ||
| Q3 24 | 16.60× | — | ||
| Q2 24 | 3.64× | — | ||
| Q1 24 | 11.40× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GCMG
| Asset Management1 | $108.6M | 61% |
| Management Service Incentive Performance Fees | $61.7M | 35% |
| Management Service Incentive Carried Interest | $5.1M | 3% |
| Service Other | $1.8M | 1% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
