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Side-by-side financial comparison of TREX CO INC (TREX) and Vericel Corp (VCEL). Click either name above to swap in a different company.
TREX CO INC is the larger business by last-quarter revenue ($343.4M vs $92.9M, roughly 3.7× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs 17.9%, a 7.1% gap on every dollar of revenue. On growth, Vericel Corp posted the faster year-over-year revenue change (23.3% vs 1.0%). Vericel Corp produced more free cash flow last quarter ($12.8M vs $-143.4M). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs -4.5%).
Trex Company, Inc. is a manufacturer of wood-alternative composite decking, residential railing, and other outdoor items made from recycled materials. Its headquarters is in Winchester, Virginia.
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.
TREX vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $343.4M | $92.9M |
| Net Profit | $61.4M | $23.2M |
| Gross Margin | 40.5% | 78.7% |
| Operating Margin | 24.3% | 24.1% |
| Net Margin | 17.9% | 25.0% |
| Revenue YoY | 1.0% | 23.3% |
| Net Profit YoY | 1.6% | 17.3% |
| EPS (diluted) | $0.58 | $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 | $343.4M | — | ||
| Q4 25 | $161.1M | $92.9M | ||
| Q3 25 | $285.3M | $67.5M | ||
| Q2 25 | $387.8M | $63.2M | ||
| Q1 25 | $340.0M | $52.6M | ||
| Q4 24 | $167.6M | $75.4M | ||
| Q3 24 | $233.7M | $57.9M | ||
| Q2 24 | $376.5M | $52.7M |
| Q1 26 | $61.4M | — | ||
| Q4 25 | $2.3M | $23.2M | ||
| Q3 25 | $51.8M | $5.1M | ||
| Q2 25 | $75.9M | $-553.0K | ||
| Q1 25 | $60.4M | $-11.2M | ||
| Q4 24 | $9.8M | $19.8M | ||
| Q3 24 | $40.6M | $-901.0K | ||
| Q2 24 | $87.0M | $-4.7M |
| Q1 26 | 40.5% | — | ||
| Q4 25 | 30.2% | 78.7% | ||
| Q3 25 | 40.5% | 73.5% | ||
| Q2 25 | 40.8% | 73.7% | ||
| Q1 25 | 40.5% | 69.0% | ||
| Q4 24 | 32.7% | 77.6% | ||
| Q3 24 | 39.9% | 71.9% | ||
| Q2 24 | 44.7% | 69.5% |
| Q1 26 | 24.3% | — | ||
| Q4 25 | 2.2% | 24.1% | ||
| Q3 25 | 24.7% | 5.1% | ||
| Q2 25 | 26.4% | -3.2% | ||
| Q1 25 | 24.0% | -24.3% | ||
| Q4 24 | 9.2% | 24.5% | ||
| Q3 24 | 23.2% | -4.3% | ||
| Q2 24 | 31.1% | -11.5% |
| Q1 26 | 17.9% | — | ||
| Q4 25 | 1.4% | 25.0% | ||
| Q3 25 | 18.1% | 7.5% | ||
| Q2 25 | 19.6% | -0.9% | ||
| Q1 25 | 17.8% | -21.4% | ||
| Q4 24 | 5.8% | 26.3% | ||
| Q3 24 | 17.4% | -1.6% | ||
| Q2 24 | 23.1% | -8.9% |
| Q1 26 | $0.58 | — | ||
| Q4 25 | $0.03 | $0.46 | ||
| Q3 25 | $0.48 | $0.10 | ||
| Q2 25 | $0.71 | $-0.01 | ||
| Q1 25 | $0.56 | $-0.23 | ||
| Q4 24 | $0.10 | $0.40 | ||
| Q3 24 | $0.37 | $-0.02 | ||
| Q2 24 | $0.80 | $-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 | $4.5M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $995.8M | $354.6M |
| Total Assets | $1.7B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $4.5M | — | ||
| Q4 25 | $3.8M | $137.5M | ||
| Q3 25 | $11.4M | $135.4M | ||
| Q2 25 | $5.5M | $116.9M | ||
| Q1 25 | $5.0M | $112.9M | ||
| Q4 24 | $1.3M | $116.2M | ||
| Q3 24 | $12.8M | $101.7M | ||
| Q2 24 | $1.2M | $102.5M |
| Q1 26 | $995.8M | — | ||
| Q4 25 | $1.0B | $354.6M | ||
| Q3 25 | $1.0B | $321.9M | ||
| Q2 25 | $989.3M | $306.8M | ||
| Q1 25 | $910.1M | $295.5M | ||
| Q4 24 | $850.1M | $292.0M | ||
| Q3 24 | $887.9M | $257.5M | ||
| Q2 24 | $894.9M | $243.0M |
| Q1 26 | $1.7B | — | ||
| Q4 25 | $1.5B | $488.0M | ||
| Q3 25 | $1.5B | $453.3M | ||
| Q2 25 | $1.5B | $435.6M | ||
| Q1 25 | $1.6B | $424.6M | ||
| Q4 24 | $1.3B | $432.7M | ||
| Q3 24 | $1.3B | $390.4M | ||
| Q2 24 | $1.3B | $376.8M |
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 | $-118.4M | $15.0M |
| Free Cash FlowOCF − Capex | $-143.4M | $12.8M |
| FCF MarginFCF / Revenue | -41.8% | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | -1.93× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | $224.6M | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $-118.4M | — | ||
| Q4 25 | $65.5M | $15.0M | ||
| Q3 25 | $196.9M | $22.1M | ||
| Q2 25 | $249.8M | $8.2M | ||
| Q1 25 | $-154.0M | $6.6M | ||
| Q4 24 | $-8.5M | $22.2M | ||
| Q3 24 | $132.8M | $10.2M | ||
| Q2 24 | $193.7M | $18.5M |
| Q1 26 | $-143.4M | — | ||
| Q4 25 | $22.1M | $12.8M | ||
| Q3 25 | $142.9M | $19.5M | ||
| Q2 25 | $203.0M | $81.0K | ||
| Q1 25 | $-233.5M | $-7.6M | ||
| Q4 24 | $-89.3M | $8.5M | ||
| Q3 24 | $54.5M | $-9.2M | ||
| Q2 24 | $158.2M | $1.8M |
| Q1 26 | -41.8% | — | ||
| Q4 25 | 13.7% | 13.8% | ||
| Q3 25 | 50.1% | 28.8% | ||
| Q2 25 | 52.3% | 0.1% | ||
| Q1 25 | -68.7% | -14.5% | ||
| Q4 24 | -53.3% | 11.2% | ||
| Q3 24 | 23.3% | -15.9% | ||
| Q2 24 | 42.0% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | 26.9% | 2.4% | ||
| Q3 25 | 18.9% | 3.9% | ||
| Q2 25 | 12.1% | 12.9% | ||
| Q1 25 | 23.4% | 27.0% | ||
| Q4 24 | 48.2% | 18.3% | ||
| Q3 24 | 33.5% | 33.5% | ||
| Q2 24 | 9.4% | 31.8% |
| Q1 26 | -1.93× | — | ||
| Q4 25 | 28.45× | 0.65× | ||
| Q3 25 | 3.80× | 4.35× | ||
| Q2 25 | 3.29× | — | ||
| Q1 25 | -2.55× | — | ||
| Q4 24 | -0.87× | 1.12× | ||
| Q3 24 | 3.27× | — | ||
| Q2 24 | 2.23× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TREX
Segment breakdown not available.
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
