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Side-by-side financial comparison of NACCO INDUSTRIES INC (NC) 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 $62.8M, roughly 1.5× NACCO INDUSTRIES INC). Vericel Corp runs the higher net margin — 25.0% vs 14.1%, a 10.9% 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 9.5%).

NACCO Industries, Inc. is an American publicly traded holding company, headquartered in Cleveland, Ohio. Through a portfolio of mining and natural resources businesses, the company operates under three business segments: Coal Mining, North American Mining, and Minerals Management. The Coal Mining segment operates surface coal mines under long-term contracts with power generation companies and an activated carbon producer pursuant to a service-based business model. The North American Mining se...

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.

NC vs VCEL — Head-to-Head

Bigger by revenue
VCEL
VCEL
1.5× larger
VCEL
$92.9M
$62.8M
NC
Growing faster (revenue YoY)
VCEL
VCEL
+27.5% gap
VCEL
23.3%
-4.3%
NC
Higher net margin
VCEL
VCEL
10.9% more per $
VCEL
25.0%
14.1%
NC
Faster 2-yr revenue CAGR
VCEL
VCEL
Annualised
VCEL
34.6%
9.5%
NC

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
NC
NC
VCEL
VCEL
Revenue
$62.8M
$92.9M
Net Profit
$8.8M
$23.2M
Gross Margin
22.8%
78.7%
Operating Margin
17.5%
24.1%
Net Margin
14.1%
25.0%
Revenue YoY
-4.3%
23.3%
Net Profit YoY
80.0%
17.3%
EPS (diluted)
$1.17
$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.

Revenue
NC
NC
VCEL
VCEL
Q1 26
$62.8M
Q4 25
$66.8M
$92.9M
Q3 25
$76.6M
$67.5M
Q2 25
$68.2M
$63.2M
Q1 25
$65.6M
$52.6M
Q4 24
$70.4M
$75.4M
Q3 24
$61.7M
$57.9M
Q2 24
$52.3M
$52.7M
Net Profit
NC
NC
VCEL
VCEL
Q1 26
$8.8M
Q4 25
$-3.8M
$23.2M
Q3 25
$13.3M
$5.1M
Q2 25
$3.3M
$-553.0K
Q1 25
$4.9M
$-11.2M
Q4 24
$7.6M
$19.8M
Q3 24
$15.6M
$-901.0K
Q2 24
$6.0M
$-4.7M
Gross Margin
NC
NC
VCEL
VCEL
Q1 26
22.8%
Q4 25
18.0%
78.7%
Q3 25
13.0%
73.5%
Q2 25
10.0%
73.7%
Q1 25
14.7%
69.0%
Q4 24
12.0%
77.6%
Q3 24
11.7%
71.9%
Q2 24
13.4%
69.5%
Operating Margin
NC
NC
VCEL
VCEL
Q1 26
17.5%
Q4 25
11.3%
24.1%
Q3 25
8.8%
5.1%
Q2 25
-0.1%
-3.2%
Q1 25
11.7%
-24.3%
Q4 24
5.5%
24.5%
Q3 24
31.9%
-4.3%
Q2 24
14.1%
-11.5%
Net Margin
NC
NC
VCEL
VCEL
Q1 26
14.1%
Q4 25
-5.8%
25.0%
Q3 25
17.3%
7.5%
Q2 25
4.8%
-0.9%
Q1 25
7.5%
-21.4%
Q4 24
10.7%
26.3%
Q3 24
25.4%
-1.6%
Q2 24
11.4%
-8.9%
EPS (diluted)
NC
NC
VCEL
VCEL
Q1 26
$1.17
Q4 25
$-0.53
$0.46
Q3 25
$1.78
$0.10
Q2 25
$0.44
$-0.01
Q1 25
$0.66
$-0.23
Q4 24
$0.99
$0.40
Q3 24
$2.14
$-0.02
Q2 24
$0.81
$-0.10

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
NC
NC
VCEL
VCEL
Cash + ST InvestmentsLiquidity on hand
$137.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$354.6M
Total Assets
$488.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NC
NC
VCEL
VCEL
Q1 26
Q4 25
$49.7M
$137.5M
Q3 25
$52.7M
$135.4M
Q2 25
$49.4M
$116.9M
Q1 25
$61.9M
$112.9M
Q4 24
$72.8M
$116.2M
Q3 24
$63.1M
$101.7M
Q2 24
$62.4M
$102.5M
Total Debt
NC
NC
VCEL
VCEL
Q1 26
Q4 25
$100.8M
Q3 25
Q2 25
Q1 25
Q4 24
$99.4M
Q3 24
Q2 24
$29.0M
Stockholders' Equity
NC
NC
VCEL
VCEL
Q1 26
Q4 25
$429.2M
$354.6M
Q3 25
$426.4M
$321.9M
Q2 25
$413.1M
$306.8M
Q1 25
$409.1M
$295.5M
Q4 24
$404.9M
$292.0M
Q3 24
$397.3M
$257.5M
Q2 24
$384.1M
$243.0M
Total Assets
NC
NC
VCEL
VCEL
Q1 26
Q4 25
$661.2M
$488.0M
Q3 25
$637.6M
$453.3M
Q2 25
$631.3M
$435.6M
Q1 25
$634.2M
$424.6M
Q4 24
$631.7M
$432.7M
Q3 24
$597.4M
$390.4M
Q2 24
$560.1M
$376.8M
Debt / Equity
NC
NC
VCEL
VCEL
Q1 26
Q4 25
0.23×
Q3 25
Q2 25
Q1 25
Q4 24
0.25×
Q3 24
Q2 24
0.08×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
NC
NC
VCEL
VCEL
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.

Operating Cash Flow
NC
NC
VCEL
VCEL
Q1 26
Q4 25
$11.4M
$15.0M
Q3 25
$42.3M
$22.1M
Q2 25
$-7.8M
$8.2M
Q1 25
$5.0M
$6.6M
Q4 24
$25.2M
$22.2M
Q3 24
$2.8M
$10.2M
Q2 24
$4.1M
$18.5M
Free Cash Flow
NC
NC
VCEL
VCEL
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
FCF Margin
NC
NC
VCEL
VCEL
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%
Capex Intensity
NC
NC
VCEL
VCEL
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%
Cash Conversion
NC
NC
VCEL
VCEL
Q1 26
Q4 25
0.65×
Q3 25
3.19×
4.35×
Q2 25
-2.39×
Q1 25
1.03×
Q4 24
3.33×
1.12×
Q3 24
0.18×
Q2 24
0.68×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

NC
NC

Segment breakdown not available.

VCEL
VCEL

MACI Implants And Kits$84.1M90%
Other$8.8M10%

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