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Side-by-side financial comparison of Limbach Holdings, Inc. (LMB) and Vericel Corp (VCEL). Click either name above to swap in a different company.
Limbach Holdings, Inc. is the larger business by last-quarter revenue ($138.9M vs $92.9M, roughly 1.5× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs 3.2%, a 21.9% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 4.3%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 6.6%).
Limbach Flugmotoren is a Chinese-owned company based in Germany that produces aircraft engines.
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.
LMB vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $138.9M | $92.9M |
| Net Profit | $4.4M | $23.2M |
| Gross Margin | 22.4% | 78.7% |
| Operating Margin | 0.8% | 24.1% |
| Net Margin | 3.2% | 25.0% |
| Revenue YoY | 4.3% | 23.3% |
| Net Profit YoY | — | 17.3% |
| EPS (diluted) | $0.36 | $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 | $138.9M | — | ||
| Q4 25 | $186.9M | $92.9M | ||
| Q3 25 | $184.6M | $67.5M | ||
| Q2 25 | $142.2M | $63.2M | ||
| Q1 25 | $133.1M | $52.6M | ||
| Q4 24 | $143.7M | $75.4M | ||
| Q3 24 | $133.9M | $57.9M | ||
| Q2 24 | $122.2M | $52.7M |
| Q1 26 | $4.4M | — | ||
| Q4 25 | $12.3M | $23.2M | ||
| Q3 25 | $8.8M | $5.1M | ||
| Q2 25 | $7.8M | $-553.0K | ||
| Q1 25 | $10.2M | $-11.2M | ||
| Q4 24 | $9.8M | $19.8M | ||
| Q3 24 | $7.5M | $-901.0K | ||
| Q2 24 | $6.0M | $-4.7M |
| Q1 26 | 22.4% | — | ||
| Q4 25 | 25.7% | 78.7% | ||
| Q3 25 | 24.2% | 73.5% | ||
| Q2 25 | 28.0% | 73.7% | ||
| Q1 25 | 27.6% | 69.0% | ||
| Q4 24 | 30.3% | 77.6% | ||
| Q3 24 | 27.0% | 71.9% | ||
| Q2 24 | 27.4% | 69.5% |
| Q1 26 | 0.8% | — | ||
| Q4 25 | 9.4% | 24.1% | ||
| Q3 25 | 7.2% | 5.1% | ||
| Q2 25 | 7.5% | -3.2% | ||
| Q1 25 | 5.9% | -24.3% | ||
| Q4 24 | 9.1% | 24.5% | ||
| Q3 24 | 8.1% | -4.3% | ||
| Q2 24 | 6.7% | -11.5% |
| Q1 26 | 3.2% | — | ||
| Q4 25 | 6.6% | 25.0% | ||
| Q3 25 | 4.8% | 7.5% | ||
| Q2 25 | 5.5% | -0.9% | ||
| Q1 25 | 7.7% | -21.4% | ||
| Q4 24 | 6.9% | 26.3% | ||
| Q3 24 | 5.6% | -1.6% | ||
| Q2 24 | 4.9% | -8.9% |
| Q1 26 | $0.36 | — | ||
| Q4 25 | $1.01 | $0.46 | ||
| Q3 25 | $0.73 | $0.10 | ||
| Q2 25 | $0.64 | $-0.01 | ||
| Q1 25 | $0.85 | $-0.23 | ||
| Q4 24 | $0.81 | $0.40 | ||
| Q3 24 | $0.62 | $-0.02 | ||
| Q2 24 | $0.50 | $-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 | $15.8M | $137.5M |
| Total DebtLower is stronger | $56.6M | — |
| Stockholders' EquityBook value | $196.3M | $354.6M |
| Total Assets | $377.0M | $488.0M |
| Debt / EquityLower = less leverage | 0.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $15.8M | — | ||
| Q4 25 | $11.3M | $137.5M | ||
| Q3 25 | $9.8M | $135.4M | ||
| Q2 25 | $38.9M | $116.9M | ||
| Q1 25 | $38.1M | $112.9M | ||
| Q4 24 | $44.9M | $116.2M | ||
| Q3 24 | $51.2M | $101.7M | ||
| Q2 24 | $59.5M | $102.5M |
| Q1 26 | $56.6M | — | ||
| Q4 25 | $30.5M | — | ||
| Q3 25 | $56.3M | — | ||
| Q2 25 | $28.4M | — | ||
| Q1 25 | $23.7M | — | ||
| Q4 24 | $23.6M | — | ||
| Q3 24 | $20.5M | — | ||
| Q2 24 | $19.7M | — |
| Q1 26 | $196.3M | — | ||
| Q4 25 | $195.7M | $354.6M | ||
| Q3 25 | $181.6M | $321.9M | ||
| Q2 25 | $170.5M | $306.8M | ||
| Q1 25 | $161.1M | $295.5M | ||
| Q4 24 | $153.5M | $292.0M | ||
| Q3 24 | $142.2M | $257.5M | ||
| Q2 24 | $133.0M | $243.0M |
| Q1 26 | $377.0M | — | ||
| Q4 25 | $381.1M | $488.0M | ||
| Q3 25 | $409.1M | $453.3M | ||
| Q2 25 | $343.0M | $435.6M | ||
| Q1 25 | $336.4M | $424.6M | ||
| Q4 24 | $352.1M | $432.7M | ||
| Q3 24 | $324.4M | $390.4M | ||
| Q2 24 | $303.9M | $376.8M |
| Q1 26 | 0.29× | — | ||
| Q4 25 | 0.16× | — | ||
| Q3 25 | 0.31× | — | ||
| Q2 25 | 0.17× | — | ||
| Q1 25 | 0.15× | — | ||
| Q4 24 | 0.15× | — | ||
| Q3 24 | 0.14× | — | ||
| Q2 24 | 0.15× | — |
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 | $28.1M | $15.0M | ||
| Q3 25 | $13.3M | $22.1M | ||
| Q2 25 | $2.0M | $8.2M | ||
| Q1 25 | $2.2M | $6.6M | ||
| Q4 24 | $19.3M | $22.2M | ||
| Q3 24 | $4.9M | $10.2M | ||
| Q2 24 | $16.5M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | $27.9M | $12.8M | ||
| Q3 25 | $12.8M | $19.5M | ||
| Q2 25 | $1.2M | $81.0K | ||
| Q1 25 | $11.0K | $-7.6M | ||
| Q4 24 | $18.0M | $8.5M | ||
| Q3 24 | $4.6M | $-9.2M | ||
| Q2 24 | $13.2M | $1.8M |
| Q1 26 | — | — | ||
| Q4 25 | 14.9% | 13.8% | ||
| Q3 25 | 7.0% | 28.8% | ||
| Q2 25 | 0.8% | 0.1% | ||
| Q1 25 | 0.0% | -14.5% | ||
| Q4 24 | 12.5% | 11.2% | ||
| Q3 24 | 3.4% | -15.9% | ||
| Q2 24 | 10.8% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 2.4% | ||
| Q3 25 | 0.3% | 3.9% | ||
| Q2 25 | 0.6% | 12.9% | ||
| Q1 25 | 1.7% | 27.0% | ||
| Q4 24 | 0.9% | 18.3% | ||
| Q3 24 | 0.3% | 33.5% | ||
| Q2 24 | 2.7% | 31.8% |
| Q1 26 | — | — | ||
| Q4 25 | 2.29× | 0.65× | ||
| Q3 25 | 1.52× | 4.35× | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.22× | — | ||
| Q4 24 | 1.96× | 1.12× | ||
| Q3 24 | 0.66× | — | ||
| Q2 24 | 2.77× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LMB
| ODR | $99.8M | 72% |
| GCR | $39.0M | 28% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
