vs
Traeger, Inc.（COOK）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Traeger, Inc.的季度营收约是Vericel Corp的1.6倍（$145.4M vs $92.9M），Vericel Corp净利率更高（25.0% vs -11.8%，领先36.8%），Vericel Corp同比增速更快（23.3% vs -13.8%），Traeger, Inc.自由现金流更多（$14.2M vs $12.8M），过去两年Vericel Corp的营收复合增速更高（34.6% vs 0.2%）
Traeger, Inc.是一家专注于户外烹饪设备研发生产的企业，主营高端木颗粒烤炉、配套配件及专用木颗粒燃料，主要面向北美、欧洲、澳洲市场，通过零售渠道和直营模式服务家庭及商用餐饮客户。
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。
COOK vs VCEL — 直观对比
营收规模更大
COOK
是对方的1.6倍
$92.9M
营收增速更快
VCEL
高出37.1%
-13.8%
净利率更高
VCEL
高出36.8%
-11.8%
自由现金流更多
COOK
多$1.4M
$12.8M
两年增速更快
VCEL
近两年复合增速
0.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $145.4M | $92.9M |
| 净利润 | $-17.2M | $23.2M |
| 毛利率 | 37.4% | 78.7% |
| 营业利润率 | -8.0% | 24.1% |
| 净利率 | -11.8% | 25.0% |
| 营收同比 | -13.8% | 23.3% |
| 净利润同比 | -147.2% | 17.3% |
| 每股收益（稀释后） | $-0.13 | $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COOKVCEL
| Q4 25 | $145.4M | $92.9M | ||
| Q3 25 | $125.4M | $67.5M | ||
| Q2 25 | $145.5M | $63.2M | ||
| Q1 25 | $143.3M | $52.6M | ||
| Q4 24 | $168.6M | $75.4M | ||
| Q3 24 | $122.0M | $57.9M | ||
| Q2 24 | $168.5M | $52.7M | ||
| Q1 24 | $144.9M | $51.3M |
净利润COOKVCEL
| Q4 25 | $-17.2M | $23.2M | ||
| Q3 25 | $-89.8M | $5.1M | ||
| Q2 25 | $-7.4M | $-553.0K | ||
| Q1 25 | $-778.0K | $-11.2M | ||
| Q4 24 | $-7.0M | $19.8M | ||
| Q3 24 | $-19.8M | $-901.0K | ||
| Q2 24 | $-2.6M | $-4.7M | ||
| Q1 24 | $-4.7M | $-3.9M |
毛利率COOKVCEL
| Q4 25 | 37.4% | 78.7% | ||
| Q3 25 | 38.7% | 73.5% | ||
| Q2 25 | 39.2% | 73.7% | ||
| Q1 25 | 41.5% | 69.0% | ||
| Q4 24 | 40.9% | 77.6% | ||
| Q3 24 | 42.3% | 71.9% | ||
| Q2 24 | 42.9% | 69.5% | ||
| Q1 24 | 43.2% | 68.9% |
营业利润率COOKVCEL
| Q4 25 | -8.0% | 24.1% | ||
| Q3 25 | -66.5% | 5.1% | ||
| Q2 25 | -4.2% | -3.2% | ||
| Q1 25 | 2.4% | -24.3% | ||
| Q4 24 | -0.1% | 24.5% | ||
| Q3 24 | -6.1% | -4.3% | ||
| Q2 24 | 2.8% | -11.5% | ||
| Q1 24 | -0.1% | -10.7% |
净利率COOKVCEL
| Q4 25 | -11.8% | 25.0% | ||
| Q3 25 | -71.6% | 7.5% | ||
| Q2 25 | -5.1% | -0.9% | ||
| Q1 25 | -0.5% | -21.4% | ||
| Q4 24 | -4.1% | 26.3% | ||
| Q3 24 | -16.2% | -1.6% | ||
| Q2 24 | -1.5% | -8.9% | ||
| Q1 24 | -3.2% | -7.5% |
每股收益（稀释后）COOKVCEL
| Q4 25 | $-0.13 | $0.46 | ||
| Q3 25 | $-0.67 | $0.10 | ||
| Q2 25 | $-0.06 | $-0.01 | ||
| Q1 25 | $-0.01 | $-0.23 | ||
| Q4 24 | $-0.06 | $0.40 | ||
| Q3 24 | $-0.15 | $-0.02 | ||
| Q2 24 | $-0.02 | $-0.10 | ||
| Q1 24 | $-0.04 | $-0.08 |
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 | $19.6M | $137.5M |
| 总债务越低越好 | $403.3M | — |
| 股东权益账面价值 | $170.8M | $354.6M |
| 总资产 | $676.0M | $488.0M |
| 负债/权益比越低杠杆越低 | 2.36× | — |
8季度趋势，按日历期对齐
现金及短期投资COOKVCEL
| Q4 25 | $19.6M | $137.5M | ||
| Q3 25 | $5.9M | $135.4M | ||
| Q2 25 | $10.3M | $116.9M | ||
| Q1 25 | $12.0M | $112.9M | ||
| Q4 24 | $15.0M | $116.2M | ||
| Q3 24 | $16.9M | $101.7M | ||
| Q2 24 | $18.0M | $102.5M | ||
| Q1 24 | $23.6M | $110.6M |
总债务COOKVCEL
| Q4 25 | $403.3M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $403.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
股东权益COOKVCEL
| Q4 25 | $170.8M | $354.6M | ||
| Q3 25 | $186.1M | $321.9M | ||
| Q2 25 | $274.2M | $306.8M | ||
| Q1 25 | $279.6M | $295.5M | ||
| Q4 24 | $276.4M | $292.0M | ||
| Q3 24 | $279.8M | $257.5M | ||
| Q2 24 | $297.3M | $243.0M | ||
| Q1 24 | $294.6M | $233.9M |
总资产COOKVCEL
| Q4 25 | $676.0M | $488.0M | ||
| Q3 25 | $689.6M | $453.3M | ||
| Q2 25 | $780.6M | $435.6M | ||
| Q1 25 | $825.6M | $424.6M | ||
| Q4 24 | $830.7M | $432.7M | ||
| Q3 24 | $818.1M | $390.4M | ||
| Q2 24 | $842.4M | $376.8M | ||
| Q1 24 | $862.1M | $356.7M |
负债/权益比COOKVCEL
| Q4 25 | 2.36× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.46× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $15.5M | $15.0M |
| 自由现金流经营现金流 - 资本支出 | $14.2M | $12.8M |
| 自由现金流率自由现金流/营收 | 9.8% | 13.8% |
| 资本支出强度资本支出/营收 | 0.9% | 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 | $13.6M | $24.7M |
8季度趋势，按日历期对齐
经营现金流COOKVCEL
| Q4 25 | $15.5M | $15.0M | ||
| Q3 25 | $7.6M | $22.1M | ||
| Q2 25 | $18.3M | $8.2M | ||
| Q1 25 | $-20.8M | $6.6M | ||
| Q4 24 | $7.5M | $22.2M | ||
| Q3 24 | $15.1M | $10.2M | ||
| Q2 24 | $13.9M | $18.5M | ||
| Q1 24 | $-12.6M | $7.2M |
自由现金流COOKVCEL
| Q4 25 | $14.2M | $12.8M | ||
| Q3 25 | $6.4M | $19.5M | ||
| Q2 25 | $15.7M | $81.0K | ||
| Q1 25 | $-22.7M | $-7.6M | ||
| Q4 24 | $5.5M | $8.5M | ||
| Q3 24 | $12.8M | $-9.2M | ||
| Q2 24 | $11.8M | $1.8M | ||
| Q1 24 | $-18.3M | $-6.8M |
自由现金流率COOKVCEL
| Q4 25 | 9.8% | 13.8% | ||
| Q3 25 | 5.1% | 28.8% | ||
| Q2 25 | 10.8% | 0.1% | ||
| Q1 25 | -15.8% | -14.5% | ||
| Q4 24 | 3.3% | 11.2% | ||
| Q3 24 | 10.5% | -15.9% | ||
| Q2 24 | 7.0% | 3.4% | ||
| Q1 24 | -12.6% | -13.3% |
资本支出强度COOKVCEL
| Q4 25 | 0.9% | 2.4% | ||
| Q3 25 | 0.9% | 3.9% | ||
| Q2 25 | 1.8% | 12.9% | ||
| Q1 25 | 1.3% | 27.0% | ||
| Q4 24 | 1.2% | 18.3% | ||
| Q3 24 | 1.9% | 33.5% | ||
| Q2 24 | 1.2% | 31.8% | ||
| Q1 24 | 3.9% | 27.3% |
现金转化率COOKVCEL
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
COOK
| Grills | $60.6M | 42% |
| Accessories | $49.2M | 34% |
| Consumables | $35.5M | 24% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
