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Side-by-side financial comparison of CVR PARTNERS, LP (UAN) and Vericel Corp (VCEL). Click either name above to swap in a different company.
CVR PARTNERS, LP is the larger business by last-quarter revenue ($180.0M vs $92.9M, roughly 1.9× Vericel Corp). CVR PARTNERS, LP runs the higher net margin — 27.7% vs 25.0%, a 2.7% gap on every dollar of revenue. On growth, CVR PARTNERS, LP posted the faster year-over-year revenue change (26.0% vs 23.3%). Over the past eight quarters, Vericel Corp's revenue compounded faster (34.6% CAGR vs 16.4%).
CVR Partners, LP is a leading North American producer of nitrogen-based fertilizer products, primarily urea ammonium nitrate (UAN) and ammonia. It serves agricultural, industrial and commercial markets across the U.S. and Canada, delivering cost-effective, high-quality nutrient solutions for crop production and diverse industrial use cases.
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.
UAN vs VCEL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $180.0M | $92.9M |
| Net Profit | $49.9M | $23.2M |
| Gross Margin | 37.5% | 78.7% |
| Operating Margin | 32.0% | 24.1% |
| Net Margin | 27.7% | 25.0% |
| Revenue YoY | 26.0% | 23.3% |
| Net Profit YoY | 84.3% | 17.3% |
| EPS (diluted) | — | $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 | $180.0M | — | ||
| Q4 25 | $131.1M | $92.9M | ||
| Q3 25 | $163.5M | $67.5M | ||
| Q2 25 | $168.6M | $63.2M | ||
| Q1 25 | $142.9M | $52.6M | ||
| Q4 24 | $139.6M | $75.4M | ||
| Q3 24 | $125.2M | $57.9M | ||
| Q2 24 | $132.9M | $52.7M |
| Q1 26 | $49.9M | — | ||
| Q4 25 | $-10.3M | $23.2M | ||
| Q3 25 | $43.1M | $5.1M | ||
| Q2 25 | $38.8M | $-553.0K | ||
| Q1 25 | $27.1M | $-11.2M | ||
| Q4 24 | $18.3M | $19.8M | ||
| Q3 24 | $3.8M | $-901.0K | ||
| Q2 24 | $26.2M | $-4.7M |
| Q1 26 | 37.5% | — | ||
| Q4 25 | 4.4% | 78.7% | ||
| Q3 25 | 37.0% | 73.5% | ||
| Q2 25 | 32.4% | 73.7% | ||
| Q1 25 | 29.7% | 69.0% | ||
| Q4 24 | 23.8% | 77.6% | ||
| Q3 24 | 14.7% | 71.9% | ||
| Q2 24 | 30.0% | 69.5% |
| Q1 26 | 32.0% | — | ||
| Q4 25 | -2.2% | 24.1% | ||
| Q3 25 | 31.0% | 5.1% | ||
| Q2 25 | 27.5% | -3.2% | ||
| Q1 25 | 24.2% | -24.3% | ||
| Q4 24 | 18.4% | 24.5% | ||
| Q3 24 | 8.8% | -4.3% | ||
| Q2 24 | 25.3% | -11.5% |
| Q1 26 | 27.7% | — | ||
| Q4 25 | -7.8% | 25.0% | ||
| Q3 25 | 26.3% | 7.5% | ||
| Q2 25 | 23.0% | -0.9% | ||
| Q1 25 | 19.0% | -21.4% | ||
| Q4 24 | 13.1% | 26.3% | ||
| Q3 24 | 3.0% | -1.6% | ||
| Q2 24 | 19.7% | -8.9% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.98 | $0.46 | ||
| Q3 25 | $4.08 | $0.10 | ||
| Q2 25 | $3.67 | $-0.01 | ||
| Q1 25 | $2.56 | $-0.23 | ||
| Q4 24 | $1.73 | $0.40 | ||
| Q3 24 | $0.36 | $-0.02 | ||
| Q2 24 | $2.48 | $-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 | $128.1M | $137.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $354.6M |
| Total Assets | $1.0B | $488.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $128.1M | — | ||
| Q4 25 | $69.2M | $137.5M | ||
| Q3 25 | $156.2M | $135.4M | ||
| Q2 25 | $114.4M | $116.9M | ||
| Q1 25 | $121.8M | $112.9M | ||
| Q4 24 | $90.9M | $116.2M | ||
| Q3 24 | $110.5M | $101.7M | ||
| Q2 24 | $47.5M | $102.5M |
| Q1 26 | — | — | ||
| Q4 25 | $569.1M | — | ||
| Q3 25 | $569.1M | — | ||
| Q2 25 | $569.2M | — | ||
| Q1 25 | $569.3M | — | ||
| Q4 24 | $568.0M | — | ||
| Q3 24 | $547.7M | — | ||
| Q2 24 | $547.6M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $354.6M | ||
| Q3 25 | — | $321.9M | ||
| Q2 25 | — | $306.8M | ||
| Q1 25 | — | $295.5M | ||
| Q4 24 | — | $292.0M | ||
| Q3 24 | — | $257.5M | ||
| Q2 24 | — | $243.0M |
| Q1 26 | $1.0B | — | ||
| Q4 25 | $969.5M | $488.0M | ||
| Q3 25 | $1.0B | $453.3M | ||
| Q2 25 | $998.0M | $435.6M | ||
| Q1 25 | $1.0B | $424.6M | ||
| Q4 24 | $1.0B | $432.7M | ||
| Q3 24 | $986.6M | $390.4M | ||
| Q2 24 | $959.4M | $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 | — | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | 7.6% | 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 | $-21.6M | $15.0M | ||
| Q3 25 | $91.7M | $22.1M | ||
| Q2 25 | $24.1M | $8.2M | ||
| Q1 25 | $55.4M | $6.6M | ||
| Q4 24 | $12.8M | $22.2M | ||
| Q3 24 | $86.7M | $10.2M | ||
| Q2 24 | $8.6M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | $-45.2M | $12.8M | ||
| Q3 25 | $80.1M | $19.5M | ||
| Q2 25 | $18.4M | $81.0K | ||
| Q1 25 | $45.5M | $-7.6M | ||
| Q4 24 | $-5.6M | $8.5M | ||
| Q3 24 | $82.3M | $-9.2M | ||
| Q2 24 | $2.4M | $1.8M |
| Q1 26 | — | — | ||
| Q4 25 | -34.5% | 13.8% | ||
| Q3 25 | 49.0% | 28.8% | ||
| Q2 25 | 10.9% | 0.1% | ||
| Q1 25 | 31.9% | -14.5% | ||
| Q4 24 | -4.0% | 11.2% | ||
| Q3 24 | 65.7% | -15.9% | ||
| Q2 24 | 1.8% | 3.4% |
| Q1 26 | 7.6% | — | ||
| Q4 25 | 18.0% | 2.4% | ||
| Q3 25 | 7.1% | 3.9% | ||
| Q2 25 | 3.4% | 12.9% | ||
| Q1 25 | 6.9% | 27.0% | ||
| Q4 24 | 13.1% | 18.3% | ||
| Q3 24 | 3.6% | 33.5% | ||
| Q2 24 | 4.6% | 31.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | 2.13× | 4.35× | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | 2.04× | — | ||
| Q4 24 | 0.70× | 1.12× | ||
| Q3 24 | 22.78× | — | ||
| Q2 24 | 0.33× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
UAN
| Fertilizer sales | $166.1M | 92% |
| Other | $14.0M | 8% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
