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Side-by-side financial comparison of DORIAN LPG LTD. (LPG) and Vericel Corp (VCEL). Click either name above to swap in a different company.
DORIAN LPG LTD. is the larger business by last-quarter revenue ($120.0M vs $92.9M, roughly 1.3× Vericel Corp). DORIAN LPG LTD. runs the higher net margin — 39.3% vs 25.0%, a 14.3% gap on every dollar of revenue. On growth, DORIAN LPG LTD. posted the faster year-over-year revenue change (48.7% vs 23.3%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -7.9%).
Dorian LPG Ltd. is a leading international shipping company focused on the seaborne transportation of liquefied petroleum gas (LPG). It owns and operates a modern fleet of very large gas carriers, serving energy and petrochemical industry clients across key markets including North America, Asia and Europe.
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.
LPG vs VCEL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $120.0M | $92.9M |
| Net Profit | $47.2M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 42.8% | 24.1% |
| Net Margin | 39.3% | 25.0% |
| Revenue YoY | 48.7% | 23.3% |
| Net Profit YoY | 120.9% | 17.3% |
| EPS (diluted) | $1.11 | $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 | $120.0M | $92.9M | ||
| Q3 25 | $124.1M | $67.5M | ||
| Q2 25 | $84.2M | $63.2M | ||
| Q1 25 | $75.9M | $52.6M | ||
| Q4 24 | $80.7M | $75.4M | ||
| Q3 24 | $82.4M | $57.9M | ||
| Q2 24 | $114.4M | $52.7M | ||
| Q1 24 | $141.4M | $51.3M |
| Q4 25 | $47.2M | $23.2M | ||
| Q3 25 | $55.4M | $5.1M | ||
| Q2 25 | $10.1M | $-553.0K | ||
| Q1 25 | $8.1M | $-11.2M | ||
| Q4 24 | $21.4M | $19.8M | ||
| Q3 24 | $9.4M | $-901.0K | ||
| Q2 24 | $51.3M | $-4.7M | ||
| Q1 24 | $79.2M | $-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 | 42.8% | 24.1% | ||
| Q3 25 | 47.8% | 5.1% | ||
| Q2 25 | 18.5% | -3.2% | ||
| Q1 25 | 19.4% | -24.3% | ||
| Q4 24 | 29.0% | 24.5% | ||
| Q3 24 | 23.2% | -4.3% | ||
| Q2 24 | 48.5% | -11.5% | ||
| Q1 24 | 58.3% | -10.7% |
| Q4 25 | 39.3% | 25.0% | ||
| Q3 25 | 44.6% | 7.5% | ||
| Q2 25 | 12.0% | -0.9% | ||
| Q1 25 | 10.7% | -21.4% | ||
| Q4 24 | 26.5% | 26.3% | ||
| Q3 24 | 11.4% | -1.6% | ||
| Q2 24 | 44.9% | -8.9% | ||
| Q1 24 | 56.0% | -7.5% |
| Q4 25 | $1.11 | $0.46 | ||
| Q3 25 | $1.30 | $0.10 | ||
| Q2 25 | $0.24 | $-0.01 | ||
| Q1 25 | $0.17 | $-0.23 | ||
| Q4 24 | $0.50 | $0.40 | ||
| Q3 24 | $0.22 | $-0.02 | ||
| Q2 24 | $1.25 | $-0.10 | ||
| Q1 24 | $1.96 | $-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 | $294.5M | $137.5M |
| Total DebtLower is stronger | $513.2M | — |
| Stockholders' EquityBook value | $1.1B | $354.6M |
| Total Assets | $1.8B | $488.0M |
| Debt / EquityLower = less leverage | 0.47× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $294.5M | $137.5M | ||
| Q3 25 | $268.3M | $135.4M | ||
| Q2 25 | $277.9M | $116.9M | ||
| Q1 25 | $316.9M | $112.9M | ||
| Q4 24 | $314.5M | $116.2M | ||
| Q3 24 | $348.6M | $101.7M | ||
| Q2 24 | $353.3M | $102.5M | ||
| Q1 24 | $282.5M | $110.6M |
| Q4 25 | $513.2M | — | ||
| Q3 25 | $526.4M | — | ||
| Q2 25 | $539.6M | — | ||
| Q1 25 | $553.3M | — | ||
| Q4 24 | $565.9M | — | ||
| Q3 24 | $579.0M | — | ||
| Q2 24 | $592.1M | — | ||
| Q1 24 | $605.1M | — |
| Q4 25 | $1.1B | $354.6M | ||
| Q3 25 | $1.1B | $321.9M | ||
| Q2 25 | $1.0B | $306.8M | ||
| Q1 25 | $1.0B | $295.5M | ||
| Q4 24 | $1.1B | $292.0M | ||
| Q3 24 | $1.1B | $257.5M | ||
| Q2 24 | $1.1B | $243.0M | ||
| Q1 24 | $1.0B | $233.9M |
| Q4 25 | $1.8B | $488.0M | ||
| Q3 25 | $1.8B | $453.3M | ||
| Q2 25 | $1.7B | $435.6M | ||
| Q1 25 | $1.8B | $424.6M | ||
| Q4 24 | $1.8B | $432.7M | ||
| Q3 24 | $1.9B | $390.4M | ||
| Q2 24 | $1.9B | $376.8M | ||
| Q1 24 | $1.8B | $356.7M |
| Q4 25 | 0.47× | — | ||
| Q3 25 | 0.49× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.53× | — | ||
| Q3 24 | 0.53× | — | ||
| Q2 24 | 0.53× | — | ||
| Q1 24 | 0.59× | — |
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 | $80.8M | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 1.71× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.8M | $15.0M | ||
| Q3 25 | $46.4M | $22.1M | ||
| Q2 25 | $814.5K | $8.2M | ||
| Q1 25 | $50.2M | $6.6M | ||
| Q4 24 | $24.3M | $22.2M | ||
| Q3 24 | $57.3M | $10.2M | ||
| Q2 24 | $41.2M | $18.5M | ||
| Q1 24 | $154.2M | $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 | — | 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 24 | — | 27.3% |
| Q4 25 | 1.71× | 0.65× | ||
| Q3 25 | 0.84× | 4.35× | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 6.20× | — | ||
| Q4 24 | 1.14× | 1.12× | ||
| Q3 24 | 6.08× | — | ||
| Q2 24 | 0.80× | — | ||
| Q1 24 | 1.95× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LPG
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
