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CAMDEN NATIONAL CORP（CAC）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Vericel Corp的季度营收约是CAMDEN NATIONAL CORP的1.4倍（$92.9M vs $64.3M），CAMDEN NATIONAL CORP净利率更高（34.0% vs 25.0%，领先9.0%），过去两年Vericel Corp的营收复合增速更高（34.6% vs 22.6%）
卡姆登国民银行是一家总部位于美国缅因州卡姆登的商业银行，是上市银行控股公司卡姆登国民集团的核心子公司。该行创立于1875年，1984年完成企业重组后成为控股公司直接持有的全资子公司。2025年与诺斯韦金融合并后，合并后机构总资产约为70亿美元。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
CAC vs VCEL — 直观对比
营收规模更大
VCEL
是对方的1.4倍
$64.3M
净利率更高
CAC
高出9.0%
25.0%
两年增速更快
VCEL
近两年复合增速
22.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $64.3M | $92.9M |
| 净利润 | $21.9M | $23.2M |
| 毛利率 | — | 78.7% |
| 营业利润率 | — | 24.1% |
| 净利率 | 34.0% | 25.0% |
| 营收同比 | — | 23.3% |
| 净利润同比 | — | 17.3% |
| 每股收益（稀释后） | $1.29 | $0.46 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CACVCEL
| Q1 26 | $64.3M | — | ||
| Q4 25 | $68.1M | $92.9M | ||
| Q3 25 | $65.4M | $67.5M | ||
| Q2 25 | $62.3M | $63.2M | ||
| Q1 25 | $60.1M | $52.6M | ||
| Q4 24 | $47.6M | $75.4M | ||
| Q3 24 | $45.0M | $57.9M | ||
| Q2 24 | $42.8M | $52.7M |
净利润CACVCEL
| Q1 26 | $21.9M | — | ||
| Q4 25 | $22.6M | $23.2M | ||
| Q3 25 | $21.2M | $5.1M | ||
| Q2 25 | $14.1M | $-553.0K | ||
| Q1 25 | $7.3M | $-11.2M | ||
| Q4 24 | $14.7M | $19.8M | ||
| Q3 24 | $13.1M | $-901.0K | ||
| Q2 24 | $12.0M | $-4.7M |
毛利率CACVCEL
| Q1 26 | — | — | ||
| 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% |
营业利润率CACVCEL
| Q1 26 | — | — | ||
| Q4 25 | 41.5% | 24.1% | ||
| Q3 25 | 40.5% | 5.1% | ||
| Q2 25 | 28.5% | -3.2% | ||
| Q1 25 | 10.3% | -24.3% | ||
| Q4 24 | 38.7% | 24.5% | ||
| Q3 24 | 35.2% | -4.3% | ||
| Q2 24 | 34.7% | -11.5% |
净利率CACVCEL
| Q1 26 | 34.0% | — | ||
| Q4 25 | 33.1% | 25.0% | ||
| Q3 25 | 32.4% | 7.5% | ||
| Q2 25 | 22.6% | -0.9% | ||
| Q1 25 | 12.2% | -21.4% | ||
| Q4 24 | 30.8% | 26.3% | ||
| Q3 24 | 29.1% | -1.6% | ||
| Q2 24 | 28.0% | -8.9% |
每股收益（稀释后）CACVCEL
| Q1 26 | $1.29 | — | ||
| Q4 25 | $1.33 | $0.46 | ||
| Q3 25 | $1.25 | $0.10 | ||
| Q2 25 | $0.83 | $-0.01 | ||
| Q1 25 | $0.43 | $-0.23 | ||
| Q4 24 | $1.00 | $0.40 | ||
| Q3 24 | $0.90 | $-0.02 | ||
| Q2 24 | $0.81 | $-0.10 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | — | $137.5M |
| 总债务越低越好 | $514.4M | — |
| 股东权益账面价值 | $710.0M | $354.6M |
| 总资产 | $7.0B | $488.0M |
| 负债/权益比越低杠杆越低 | 0.72× | — |
8季度趋势，按日历期对齐
现金及短期投资CACVCEL
| Q1 26 | — | — | ||
| Q4 25 | — | $137.5M | ||
| Q3 25 | — | $135.4M | ||
| Q2 25 | — | $116.9M | ||
| Q1 25 | — | $112.9M | ||
| Q4 24 | — | $116.2M | ||
| Q3 24 | — | $101.7M | ||
| Q2 24 | — | $102.5M |
总债务CACVCEL
| Q1 26 | $514.4M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益CACVCEL
| Q1 26 | $710.0M | — | ||
| Q4 25 | $696.6M | $354.6M | ||
| Q3 25 | $676.4M | $321.9M | ||
| Q2 25 | $652.1M | $306.8M | ||
| Q1 25 | $640.1M | $295.5M | ||
| Q4 24 | $531.2M | $292.0M | ||
| Q3 24 | $529.9M | $257.5M | ||
| Q2 24 | $508.3M | $243.0M |
总资产CACVCEL
| Q1 26 | $7.0B | — | ||
| Q4 25 | $7.0B | $488.0M | ||
| Q3 25 | $7.0B | $453.3M | ||
| Q2 25 | $6.9B | $435.6M | ||
| Q1 25 | $7.0B | $424.6M | ||
| Q4 24 | $5.8B | $432.7M | ||
| Q3 24 | $5.7B | $390.4M | ||
| Q2 24 | $5.7B | $376.8M |
负债/权益比CACVCEL
| Q1 26 | 0.72× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $15.0M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.65× |
| 过去12个月自由现金流最近4个季度 | — | $24.7M |
8季度趋势，按日历期对齐
经营现金流CACVCEL
| Q1 26 | — | — | ||
| Q4 25 | $63.9M | $15.0M | ||
| Q3 25 | $36.1M | $22.1M | ||
| Q2 25 | $6.0M | $8.2M | ||
| Q1 25 | $1.0M | $6.6M | ||
| Q4 24 | $60.9M | $22.2M | ||
| Q3 24 | $-14.5M | $10.2M | ||
| Q2 24 | $14.5M | $18.5M |
自由现金流CACVCEL
| Q1 26 | — | — | ||
| Q4 25 | $58.2M | $12.8M | ||
| Q3 25 | $35.4M | $19.5M | ||
| Q2 25 | $4.5M | $81.0K | ||
| Q1 25 | $-727.0K | $-7.6M | ||
| Q4 24 | $55.4M | $8.5M | ||
| Q3 24 | $-16.2M | $-9.2M | ||
| Q2 24 | $13.2M | $1.8M |
自由现金流率CACVCEL
| Q1 26 | — | — | ||
| Q4 25 | 85.5% | 13.8% | ||
| Q3 25 | 54.1% | 28.8% | ||
| Q2 25 | 7.3% | 0.1% | ||
| Q1 25 | -1.2% | -14.5% | ||
| Q4 24 | 116.4% | 11.2% | ||
| Q3 24 | -36.0% | -15.9% | ||
| Q2 24 | 30.8% | 3.4% |
资本支出强度CACVCEL
| Q1 26 | — | — | ||
| Q4 25 | 8.4% | 2.4% | ||
| Q3 25 | 1.1% | 3.9% | ||
| Q2 25 | 2.4% | 12.9% | ||
| Q1 25 | 2.9% | 27.0% | ||
| Q4 24 | 11.7% | 18.3% | ||
| Q3 24 | 3.8% | 33.5% | ||
| Q2 24 | 3.0% | 31.8% |
现金转化率CACVCEL
| Q1 26 | — | — | ||
| Q4 25 | 2.83× | 0.65× | ||
| Q3 25 | 1.70× | 4.35× | ||
| Q2 25 | 0.43× | — | ||
| Q1 25 | 0.14× | — | ||
| Q4 24 | 4.15× | 1.12× | ||
| Q3 24 | -1.11× | — | ||
| Q2 24 | 1.21× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
CAC
| Net Interest Income | $52.4M | 81% |
| Noninterest Income | $12.0M | 19% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
