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莱迪思半导体（LSCC）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
莱迪思半导体的季度营收约是Vericel Corp的1.6倍（$145.8M vs $92.9M），Vericel Corp净利率更高（25.0% vs -5.2%，领先30.3%），Vericel Corp同比增速更快（23.3% vs 9.3%），莱迪思半导体自由现金流更多（$44.0M vs $12.8M），过去两年Vericel Corp的营收复合增速更高（34.6% vs 8.4%）
莱迪思半导体是美国专注于低功耗现场可编程门阵列（FPGA）设计制造的半导体企业，1983年成立，1989年上市，总部位于俄勒冈州希尔斯伯勒硅林区，在圣何塞、上海、马尼拉、槟城、新加坡等地设有运营网点，截至2022年员工超1000人，年营收超6.6亿美元。
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。
LSCC vs VCEL — 直观对比
营收规模更大
LSCC
是对方的1.6倍
$92.9M
营收增速更快
VCEL
高出14.0%
9.3%
净利率更高
VCEL
高出30.3%
-5.2%
自由现金流更多
LSCC
多$31.1M
$12.8M
两年增速更快
VCEL
近两年复合增速
8.4%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $145.8M | $92.9M |
| 净利润 | $-7.6M | $23.2M |
| 毛利率 | 68.5% | 78.7% |
| 营业利润率 | 30.7% | 24.1% |
| 净利率 | -5.2% | 25.0% |
| 营收同比 | 9.3% | 23.3% |
| 净利润同比 | 14.6% | 17.3% |
| 每股收益（稀释后） | $-0.06 | $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LSCCVCEL
| Q1 26 | $145.8M | — | ||
| Q4 25 | — | $92.9M | ||
| Q3 25 | $133.3M | $67.5M | ||
| Q2 25 | $124.0M | $63.2M | ||
| Q1 25 | $120.2M | $52.6M | ||
| Q4 24 | $117.4M | $75.4M | ||
| Q3 24 | $127.1M | $57.9M | ||
| Q2 24 | $124.1M | $52.7M |
净利润LSCCVCEL
| Q1 26 | $-7.6M | — | ||
| Q4 25 | — | $23.2M | ||
| Q3 25 | $2.8M | $5.1M | ||
| Q2 25 | $2.9M | $-553.0K | ||
| Q1 25 | $5.0M | $-11.2M | ||
| Q4 24 | $16.5M | $19.8M | ||
| Q3 24 | $7.2M | $-901.0K | ||
| Q2 24 | $22.6M | $-4.7M |
毛利率LSCCVCEL
| Q1 26 | 68.5% | — | ||
| Q4 25 | — | 78.7% | ||
| Q3 25 | 67.9% | 73.5% | ||
| Q2 25 | 68.4% | 73.7% | ||
| Q1 25 | 68.0% | 69.0% | ||
| Q4 24 | 61.1% | 77.6% | ||
| Q3 24 | 69.0% | 71.9% | ||
| Q2 24 | 68.3% | 69.5% |
营业利润率LSCCVCEL
| Q1 26 | 0.7% | — | ||
| Q4 25 | — | 24.1% | ||
| Q3 25 | -1.2% | 5.1% | ||
| Q2 25 | 3.8% | -3.2% | ||
| Q1 25 | 5.8% | -24.3% | ||
| Q4 24 | -10.4% | 24.5% | ||
| Q3 24 | 5.9% | -4.3% | ||
| Q2 24 | 18.2% | -11.5% |
净利率LSCCVCEL
| Q1 26 | -5.2% | — | ||
| Q4 25 | — | 25.0% | ||
| Q3 25 | 2.1% | 7.5% | ||
| Q2 25 | 2.3% | -0.9% | ||
| Q1 25 | 4.2% | -21.4% | ||
| Q4 24 | 14.1% | 26.3% | ||
| Q3 24 | 5.7% | -1.6% | ||
| Q2 24 | 18.2% | -8.9% |
每股收益（稀释后）LSCCVCEL
| Q1 26 | $-0.06 | — | ||
| Q4 25 | — | $0.46 | ||
| Q3 25 | $0.02 | $0.10 | ||
| Q2 25 | $0.02 | $-0.01 | ||
| Q1 25 | $0.04 | $-0.23 | ||
| Q4 24 | $0.12 | $0.40 | ||
| Q3 24 | $0.05 | $-0.02 | ||
| Q2 24 | $0.16 | $-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 | $133.9M | $137.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $714.1M | $354.6M |
| 总资产 | — | $488.0M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LSCCVCEL
| Q1 26 | $133.9M | — | ||
| Q4 25 | — | $137.5M | ||
| Q3 25 | $117.9M | $135.4M | ||
| Q2 25 | $107.2M | $116.9M | ||
| Q1 25 | $127.6M | $112.9M | ||
| Q4 24 | $136.3M | $116.2M | ||
| Q3 24 | $124.3M | $101.7M | ||
| Q2 24 | $109.2M | $102.5M |
股东权益LSCCVCEL
| Q1 26 | $714.1M | — | ||
| Q4 25 | — | $354.6M | ||
| Q3 25 | $706.4M | $321.9M | ||
| Q2 25 | $687.0M | $306.8M | ||
| Q1 25 | $707.9M | $295.5M | ||
| Q4 24 | $710.9M | $292.0M | ||
| Q3 24 | $703.5M | $257.5M | ||
| Q2 24 | $698.8M | $243.0M |
总资产LSCCVCEL
| Q1 26 | $883.1M | — | ||
| Q4 25 | — | $488.0M | ||
| Q3 25 | $844.4M | $453.3M | ||
| Q2 25 | $808.6M | $435.6M | ||
| Q1 25 | $823.6M | $424.6M | ||
| Q4 24 | $843.9M | $432.7M | ||
| Q3 24 | $853.7M | $390.4M | ||
| Q2 24 | $827.5M | $376.8M |
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 | $57.6M | $15.0M |
| 自由现金流经营现金流 - 资本支出 | $44.0M | $12.8M |
| 自由现金流率自由现金流/营收 | 30.2% | 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 | $153.3M | $24.7M |
8季度趋势，按日历期对齐
经营现金流LSCCVCEL
| Q1 26 | $57.6M | — | ||
| Q4 25 | — | $15.0M | ||
| Q3 25 | $47.1M | $22.1M | ||
| Q2 25 | $38.5M | $8.2M | ||
| Q1 25 | $31.9M | $6.6M | ||
| Q4 24 | $45.4M | $22.2M | ||
| Q3 24 | $44.0M | $10.2M | ||
| Q2 24 | $21.9M | $18.5M |
自由现金流LSCCVCEL
| Q1 26 | $44.0M | — | ||
| Q4 25 | — | $12.8M | ||
| Q3 25 | $34.0M | $19.5M | ||
| Q2 25 | $31.3M | $81.0K | ||
| Q1 25 | $23.3M | $-7.6M | ||
| Q4 24 | $39.7M | $8.5M | ||
| Q3 24 | $39.4M | $-9.2M | ||
| Q2 24 | $14.8M | $1.8M |
自由现金流率LSCCVCEL
| Q1 26 | 30.2% | — | ||
| Q4 25 | — | 13.8% | ||
| Q3 25 | 25.5% | 28.8% | ||
| Q2 25 | 25.2% | 0.1% | ||
| Q1 25 | 19.4% | -14.5% | ||
| Q4 24 | 33.8% | 11.2% | ||
| Q3 24 | 31.0% | -15.9% | ||
| Q2 24 | 11.9% | 3.4% |
资本支出强度LSCCVCEL
| Q1 26 | 9.3% | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | 9.8% | 3.9% | ||
| Q2 25 | 5.8% | 12.9% | ||
| Q1 25 | 7.2% | 27.0% | ||
| Q4 24 | 4.9% | 18.3% | ||
| Q3 24 | 3.7% | 33.5% | ||
| Q2 24 | 5.8% | 31.8% |
现金转化率LSCCVCEL
| Q1 26 | — | — | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | 16.86× | 4.35× | ||
| Q2 25 | 13.23× | — | ||
| Q1 25 | 6.35× | — | ||
| Q4 24 | 2.75× | 1.12× | ||
| Q3 24 | 6.12× | — | ||
| Q2 24 | 0.97× | — |
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
LSCC
暂无分部数据
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
