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Side-by-side financial comparison of NPK International Inc. (NPKI) 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 $75.2M, roughly 1.2× NPK International Inc.). On growth, NPK International Inc. posted the faster year-over-year revenue change (30.7% vs 23.3%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $5.8M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 23.9%).
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.
NPKI vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.2M | $92.9M |
| Net Profit | — | $23.2M |
| Gross Margin | 37.7% | 78.7% |
| Operating Margin | 16.7% | 24.1% |
| Net Margin | — | 25.0% |
| Revenue YoY | 30.7% | 23.3% |
| Net Profit YoY | — | 17.3% |
| EPS (diluted) | $0.17 | $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.
| Q4 25 | $75.2M | $92.9M | ||
| Q3 25 | $68.8M | $67.5M | ||
| Q2 25 | $68.2M | $63.2M | ||
| Q1 25 | $64.8M | $52.6M | ||
| Q4 24 | $57.5M | $75.4M | ||
| Q3 24 | $44.2M | $57.9M | ||
| Q2 24 | $66.8M | $52.7M | ||
| Q1 24 | $49.0M | $51.3M |
| Q4 25 | — | $23.2M | ||
| Q3 25 | $5.7M | $5.1M | ||
| Q2 25 | $8.7M | $-553.0K | ||
| Q1 25 | $10.0M | $-11.2M | ||
| Q4 24 | — | $19.8M | ||
| Q3 24 | $-174.3M | $-901.0K | ||
| Q2 24 | $8.0M | $-4.7M | ||
| Q1 24 | $7.3M | $-3.9M |
| Q4 25 | 37.7% | 78.7% | ||
| Q3 25 | 31.9% | 73.5% | ||
| Q2 25 | 36.9% | 73.7% | ||
| Q1 25 | 39.0% | 69.0% | ||
| Q4 24 | 39.2% | 77.6% | ||
| Q3 24 | 27.5% | 71.9% | ||
| Q2 24 | 37.2% | 69.5% | ||
| Q1 24 | 36.0% | 68.9% |
| Q4 25 | 16.7% | 24.1% | ||
| Q3 25 | 13.2% | 5.1% | ||
| Q2 25 | 17.0% | -3.2% | ||
| Q1 25 | 20.9% | -24.3% | ||
| Q4 24 | 20.2% | 24.5% | ||
| Q3 24 | 2.8% | -4.3% | ||
| Q2 24 | 18.7% | -11.5% | ||
| Q1 24 | 14.2% | -10.7% |
| Q4 25 | — | 25.0% | ||
| Q3 25 | 8.2% | 7.5% | ||
| Q2 25 | 12.7% | -0.9% | ||
| Q1 25 | 15.4% | -21.4% | ||
| Q4 24 | — | 26.3% | ||
| Q3 24 | -394.3% | -1.6% | ||
| Q2 24 | 12.0% | -8.9% | ||
| Q1 24 | 14.9% | -7.5% |
| Q4 25 | $0.17 | $0.46 | ||
| Q3 25 | $0.07 | $0.10 | ||
| Q2 25 | $0.10 | $-0.01 | ||
| Q1 25 | $0.11 | $-0.23 | ||
| Q4 24 | $0.10 | $0.40 | ||
| Q3 24 | $-1.99 | $-0.02 | ||
| Q2 24 | $0.09 | $-0.10 | ||
| Q1 24 | $0.08 | $-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 | $5.1M | $137.5M |
| Total DebtLower is stronger | $16.9M | — |
| Stockholders' EquityBook value | $351.2M | $354.6M |
| Total Assets | $441.8M | $488.0M |
| Debt / EquityLower = less leverage | 0.05× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.1M | $137.5M | ||
| Q3 25 | $35.6M | $135.4M | ||
| Q2 25 | $26.0M | $116.9M | ||
| Q1 25 | $20.8M | $112.9M | ||
| Q4 24 | $17.8M | $116.2M | ||
| Q3 24 | $42.9M | $101.7M | ||
| Q2 24 | $35.1M | $102.5M | ||
| Q1 24 | $37.7M | $110.6M |
| Q4 25 | $16.9M | — | ||
| Q3 25 | $9.5M | — | ||
| Q2 25 | $9.3M | — | ||
| Q1 25 | $8.1M | — | ||
| Q4 24 | $7.7M | — | ||
| Q3 24 | $14.0M | — | ||
| Q2 24 | $58.0M | — | ||
| Q1 24 | $77.4M | — |
| Q4 25 | $351.2M | $354.6M | ||
| Q3 25 | $333.9M | $321.9M | ||
| Q2 25 | $328.8M | $306.8M | ||
| Q1 25 | $326.9M | $295.5M | ||
| Q4 24 | $326.5M | $292.0M | ||
| Q3 24 | $316.5M | $257.5M | ||
| Q2 24 | $426.6M | $243.0M | ||
| Q1 24 | $421.6M | $233.9M |
| Q4 25 | $441.8M | $488.0M | ||
| Q3 25 | $404.5M | $453.3M | ||
| Q2 25 | $393.7M | $435.6M | ||
| Q1 25 | $390.0M | $424.6M | ||
| Q4 24 | $393.7M | $432.7M | ||
| Q3 24 | $389.6M | $390.4M | ||
| Q2 24 | $624.8M | $376.8M | ||
| Q1 24 | $640.8M | $356.7M |
| Q4 25 | 0.05× | — | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.02× | — | ||
| Q4 24 | 0.02× | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.18× | — |
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 | $18.0M | $15.0M |
| Free Cash FlowOCF − Capex | $5.8M | $12.8M |
| FCF MarginFCF / Revenue | 7.6% | 13.8% |
| Capex IntensityCapex / Revenue | 16.3% | 2.4% |
| Cash ConversionOCF / Net Profit | — | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $26.3M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.0M | $15.0M | ||
| Q3 25 | $24.7M | $22.1M | ||
| Q2 25 | $21.4M | $8.2M | ||
| Q1 25 | $8.8M | $6.6M | ||
| Q4 24 | $-4.1M | $22.2M | ||
| Q3 24 | $2.8M | $10.2M | ||
| Q2 24 | $27.6M | $18.5M | ||
| Q1 24 | $11.9M | $7.2M |
| Q4 25 | $5.8M | $12.8M | ||
| Q3 25 | $12.0M | $19.5M | ||
| Q2 25 | $9.7M | $81.0K | ||
| Q1 25 | $-1.2M | $-7.6M | ||
| Q4 24 | $-17.7M | $8.5M | ||
| Q3 24 | $-6.7M | $-9.2M | ||
| Q2 24 | $21.0M | $1.8M | ||
| Q1 24 | $-1.9M | $-6.8M |
| Q4 25 | 7.6% | 13.8% | ||
| Q3 25 | 17.4% | 28.8% | ||
| Q2 25 | 14.3% | 0.1% | ||
| Q1 25 | -1.8% | -14.5% | ||
| Q4 24 | -30.8% | 11.2% | ||
| Q3 24 | -15.2% | -15.9% | ||
| Q2 24 | 31.4% | 3.4% | ||
| Q1 24 | -3.9% | -13.3% |
| Q4 25 | 16.3% | 2.4% | ||
| Q3 25 | 18.5% | 3.9% | ||
| Q2 25 | 17.1% | 12.9% | ||
| Q1 25 | 15.5% | 27.0% | ||
| Q4 24 | 23.6% | 18.3% | ||
| Q3 24 | 21.4% | 33.5% | ||
| Q2 24 | 9.9% | 31.8% | ||
| Q1 24 | 28.3% | 27.3% |
| Q4 25 | — | 0.65× | ||
| Q3 25 | 4.37× | 4.35× | ||
| Q2 25 | 2.47× | — | ||
| Q1 25 | 0.88× | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | 3.43× | — | ||
| Q1 24 | 1.64× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NPKI
| Rental Revenue | $34.8M | 46% |
| Products | $25.5M | 34% |
| Services | $14.9M | 20% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
