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Side-by-side financial comparison of INSTEEL INDUSTRIES INC (IIIN) and Vericel Corp (VCEL). Click either name above to swap in a different company.
INSTEEL INDUSTRIES INC is the larger business by last-quarter revenue ($159.9M vs $92.9M, roughly 1.7× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs 4.7%, a 20.3% gap on every dollar of revenue. On growth, INSTEEL INDUSTRIES INC posted the faster year-over-year revenue change (23.3% vs 23.3%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-2.2M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 12.0%).
Insteel Industries Inc is a leading U.S. manufacturer of steel reinforcing products including welded wire reinforcement and steel fibers. It primarily serves non-residential construction, infrastructure, and precast concrete segments across North America, delivering high-performance reinforcement solutions for various construction projects.
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.
IIIN vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $159.9M | $92.9M |
| Net Profit | $7.6M | $23.2M |
| Gross Margin | 11.3% | 78.7% |
| Operating Margin | 6.0% | 24.1% |
| Net Margin | 4.7% | 25.0% |
| Revenue YoY | 23.3% | 23.3% |
| Net Profit YoY | 602.4% | 17.3% |
| EPS (diluted) | $0.39 | $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 | $159.9M | $92.9M | ||
| Q3 25 | $177.4M | $67.5M | ||
| Q2 25 | $179.9M | $63.2M | ||
| Q1 25 | $160.7M | $52.6M | ||
| Q4 24 | $129.7M | $75.4M | ||
| Q3 24 | $134.3M | $57.9M | ||
| Q2 24 | $145.8M | $52.7M | ||
| Q1 24 | $127.4M | $51.3M |
| Q4 25 | $7.6M | $23.2M | ||
| Q3 25 | $14.6M | $5.1M | ||
| Q2 25 | $15.2M | $-553.0K | ||
| Q1 25 | $10.2M | $-11.2M | ||
| Q4 24 | $1.1M | $19.8M | ||
| Q3 24 | $4.7M | $-901.0K | ||
| Q2 24 | $6.6M | $-4.7M | ||
| Q1 24 | $6.9M | $-3.9M |
| Q4 25 | 11.3% | 78.7% | ||
| Q3 25 | 16.1% | 73.5% | ||
| Q2 25 | 17.1% | 73.7% | ||
| Q1 25 | 15.3% | 69.0% | ||
| Q4 24 | 7.3% | 77.6% | ||
| Q3 24 | 9.1% | 71.9% | ||
| Q2 24 | 10.6% | 69.5% | ||
| Q1 24 | 12.3% | 68.9% |
| Q4 25 | 6.0% | 24.1% | ||
| Q3 25 | 10.8% | 5.1% | ||
| Q2 25 | 11.0% | -3.2% | ||
| Q1 25 | 8.3% | -24.3% | ||
| Q4 24 | 1.1% | 24.5% | ||
| Q3 24 | 4.5% | -4.3% | ||
| Q2 24 | 6.0% | -11.5% | ||
| Q1 24 | 7.0% | -10.7% |
| Q4 25 | 4.7% | 25.0% | ||
| Q3 25 | 8.2% | 7.5% | ||
| Q2 25 | 8.4% | -0.9% | ||
| Q1 25 | 6.4% | -21.4% | ||
| Q4 24 | 0.8% | 26.3% | ||
| Q3 24 | 3.5% | -1.6% | ||
| Q2 24 | 4.5% | -8.9% | ||
| Q1 24 | 5.4% | -7.5% |
| Q4 25 | $0.39 | $0.46 | ||
| Q3 25 | $0.74 | $0.10 | ||
| Q2 25 | $0.78 | $-0.01 | ||
| Q1 25 | $0.52 | $-0.23 | ||
| Q4 24 | $0.06 | $0.40 | ||
| Q3 24 | $0.24 | $-0.02 | ||
| Q2 24 | $0.34 | $-0.10 | ||
| Q1 24 | $0.35 | $-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 | $15.6M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $358.8M | $354.6M |
| Total Assets | $456.1M | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $137.5M | ||
| Q3 25 | $38.6M | $135.4M | ||
| Q2 25 | $53.7M | $116.9M | ||
| Q1 25 | $28.4M | $112.9M | ||
| Q4 24 | $36.0M | $116.2M | ||
| Q3 24 | $111.5M | $101.7M | ||
| Q2 24 | $97.7M | $102.5M | ||
| Q1 24 | $83.9M | $110.6M |
| Q4 25 | $358.8M | $354.6M | ||
| Q3 25 | $371.5M | $321.9M | ||
| Q2 25 | $356.2M | $306.8M | ||
| Q1 25 | $341.4M | $295.5M | ||
| Q4 24 | $331.6M | $292.0M | ||
| Q3 24 | $350.9M | $257.5M | ||
| Q2 24 | $346.0M | $243.0M | ||
| Q1 24 | $340.6M | $233.9M |
| Q4 25 | $456.1M | $488.0M | ||
| Q3 25 | $462.6M | $453.3M | ||
| Q2 25 | $471.9M | $435.6M | ||
| Q1 25 | $421.9M | $424.6M | ||
| Q4 24 | $404.7M | $432.7M | ||
| Q3 24 | $422.6M | $390.4M | ||
| Q2 24 | $414.6M | $376.8M | ||
| Q1 24 | $397.2M | $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 | $-701.0K | $15.0M |
| Free Cash FlowOCF − Capex | $-2.2M | $12.8M |
| FCF MarginFCF / Revenue | -1.4% | 13.8% |
| Capex IntensityCapex / Revenue | 0.9% | 2.4% |
| Cash ConversionOCF / Net Profit | -0.09× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $439.0K | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-701.0K | $15.0M | ||
| Q3 25 | $-17.0M | $22.1M | ||
| Q2 25 | $28.5M | $8.2M | ||
| Q1 25 | $-3.3M | $6.6M | ||
| Q4 24 | $19.0M | $22.2M | ||
| Q3 24 | $16.2M | $10.2M | ||
| Q2 24 | $18.8M | $18.5M | ||
| Q1 24 | $1.4M | $7.2M |
| Q4 25 | $-2.2M | $12.8M | ||
| Q3 25 | $-18.7M | $19.5M | ||
| Q2 25 | $26.9M | $81.0K | ||
| Q1 25 | $-5.5M | $-7.6M | ||
| Q4 24 | $16.3M | $8.5M | ||
| Q3 24 | $14.5M | $-9.2M | ||
| Q2 24 | $15.5M | $1.8M | ||
| Q1 24 | $-580.0K | $-6.8M |
| Q4 25 | -1.4% | 13.8% | ||
| Q3 25 | -10.6% | 28.8% | ||
| Q2 25 | 15.0% | 0.1% | ||
| Q1 25 | -3.5% | -14.5% | ||
| Q4 24 | 12.6% | 11.2% | ||
| Q3 24 | 10.8% | -15.9% | ||
| Q2 24 | 10.7% | 3.4% | ||
| Q1 24 | -0.5% | -13.3% |
| Q4 25 | 0.9% | 2.4% | ||
| Q3 25 | 1.0% | 3.9% | ||
| Q2 25 | 0.9% | 12.9% | ||
| Q1 25 | 1.4% | 27.0% | ||
| Q4 24 | 2.1% | 18.3% | ||
| Q3 24 | 1.3% | 33.5% | ||
| Q2 24 | 2.2% | 31.8% | ||
| Q1 24 | 1.5% | 27.3% |
| Q4 25 | -0.09× | 0.65× | ||
| Q3 25 | -1.17× | 4.35× | ||
| Q2 25 | 1.88× | — | ||
| Q1 25 | -0.32× | — | ||
| Q4 24 | 17.56× | 1.12× | ||
| Q3 24 | 3.48× | — | ||
| Q2 24 | 2.86× | — | ||
| Q1 24 | 0.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
