vs
Vericel Corp（VCEL）与VIRCO MFG CORPORATION（VIRC）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VIRCO MFG CORPORATION的2.0倍（$92.9M vs $47.6M），Vericel Corp净利率更高（25.0% vs -2.8%，领先27.8%），Vericel Corp同比增速更快（23.3% vs -42.3%），VIRCO MFG CORPORATION自由现金流更多（$24.5M vs $12.8M），过去两年Vericel Corp的营收复合增速更高（34.6% vs 5.7%）
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。
维尔科制造公司（简称Virco）是总部位于美国加利福尼亚州托伦斯的家具制造商，主打教育场景家具产品，核心产品涵盖学生课桌、活动桌、校园及办公座椅、电脑台、轻质折叠桌与布艺沙发椅等。
VCEL vs VIRC — 直观对比
营收规模更大
VCEL
是对方的2.0倍
$47.6M
营收增速更快
VCEL
高出65.6%
-42.3%
净利率更高
VCEL
高出27.8%
-2.8%
自由现金流更多
VIRC
多$11.7M
$12.8M
两年增速更快
VCEL
近两年复合增速
5.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $92.9M | $47.6M |
| 净利润 | $23.2M | $-1.3M |
| 毛利率 | 78.7% | 38.0% |
| 营业利润率 | 24.1% | -3.6% |
| 净利率 | 25.0% | -2.8% |
| 营收同比 | 23.3% | -42.3% |
| 净利润同比 | 17.3% | -115.8% |
| 每股收益（稀释后） | $0.46 | $-0.08 |
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VCELVIRC
| Q4 25 | $92.9M | $47.6M | ||
| Q3 25 | $67.5M | $92.1M | ||
| Q2 25 | $63.2M | $33.8M | ||
| Q1 25 | $52.6M | $28.5M | ||
| Q4 24 | $75.4M | $82.6M | ||
| Q3 24 | $57.9M | $108.4M | ||
| Q2 24 | $52.7M | $46.7M | ||
| Q1 24 | $51.3M | $42.6M |
净利润VCELVIRC
| Q4 25 | $23.2M | $-1.3M | ||
| Q3 25 | $5.1M | $10.2M | ||
| Q2 25 | $-553.0K | $732.0K | ||
| Q1 25 | $-11.2M | $-5.7M | ||
| Q4 24 | $19.8M | $8.4M | ||
| Q3 24 | $-901.0K | $16.8M | ||
| Q2 24 | $-4.7M | $2.1M | ||
| Q1 24 | $-3.9M | $-2.3M |
毛利率VCELVIRC
| Q4 25 | 78.7% | 38.0% | ||
| Q3 25 | 73.5% | 44.4% | ||
| Q2 25 | 73.7% | 47.5% | ||
| Q1 25 | 69.0% | 26.2% | ||
| Q4 24 | 77.6% | 44.4% | ||
| Q3 24 | 71.9% | 46.3% | ||
| Q2 24 | 69.5% | 43.5% | ||
| Q1 24 | 68.9% | 37.7% |
营业利润率VCELVIRC
| Q4 25 | 24.1% | -3.6% | ||
| Q3 25 | 5.1% | 16.7% | ||
| Q2 25 | -3.2% | -0.3% | ||
| Q1 25 | -24.3% | -28.5% | ||
| Q4 24 | 24.5% | 13.5% | ||
| Q3 24 | -4.3% | 20.2% | ||
| Q2 24 | -11.5% | 6.4% | ||
| Q1 24 | -10.7% | -6.5% |
净利率VCELVIRC
| Q4 25 | 25.0% | -2.8% | ||
| Q3 25 | 7.5% | 11.1% | ||
| Q2 25 | -0.9% | 2.2% | ||
| Q1 25 | -21.4% | -20.1% | ||
| Q4 24 | 26.3% | 10.2% | ||
| Q3 24 | -1.6% | 15.5% | ||
| Q2 24 | -8.9% | 4.6% | ||
| Q1 24 | -7.5% | -5.5% |
每股收益（稀释后）VCELVIRC
| Q4 25 | $0.46 | $-0.08 | ||
| Q3 25 | $0.10 | $0.65 | ||
| Q2 25 | $-0.01 | $0.05 | ||
| Q1 25 | $-0.23 | $-0.37 | ||
| Q4 24 | $0.40 | $0.52 | ||
| Q3 24 | $-0.02 | $1.04 | ||
| Q2 24 | $-0.10 | $0.13 | ||
| Q1 24 | $-0.08 | $-0.14 |
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 | — | $3.9M |
| 股东权益账面价值 | $354.6M | $113.6M |
| 总资产 | $488.0M | $181.5M |
| 负债/权益比越低杠杆越低 | — | 0.03× |
8季度趋势，按日历期对齐
现金及短期投资VCELVIRC
| 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 | — | ||
| Q1 24 | $110.6M | $5.3M |
总债务VCELVIRC
| Q4 25 | — | $3.9M | ||
| Q3 25 | — | $4.0M | ||
| Q2 25 | — | $4.1M | ||
| Q1 25 | — | $4.1M | ||
| Q4 24 | — | $4.2M | ||
| Q3 24 | — | $4.3M | ||
| Q2 24 | — | $7.0M | ||
| Q1 24 | — | $4.4M |
股东权益VCELVIRC
| Q4 25 | $354.6M | $113.6M | ||
| Q3 25 | $321.9M | $115.4M | ||
| Q2 25 | $306.8M | $105.6M | ||
| Q1 25 | $295.5M | $109.3M | ||
| Q4 24 | $292.0M | $115.9M | ||
| Q3 24 | $257.5M | $107.8M | ||
| Q2 24 | $243.0M | $91.6M | ||
| Q1 24 | $233.9M | $91.2M |
总资产VCELVIRC
| Q4 25 | $488.0M | $181.5M | ||
| Q3 25 | $453.3M | $198.6M | ||
| Q2 25 | $435.6M | $183.8M | ||
| Q1 25 | $424.6M | $191.9M | ||
| Q4 24 | $432.7M | $210.1M | ||
| Q3 24 | $390.4M | $216.3M | ||
| Q2 24 | $376.8M | $152.5M | ||
| Q1 24 | $356.7M | $146.4M |
负债/权益比VCELVIRC
| Q4 25 | — | 0.03× | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.04× | ||
| Q1 25 | — | 0.04× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 0.04× | ||
| Q2 24 | — | 0.08× | ||
| Q1 24 | — | 0.05× |
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 | $25.8M |
| 自由现金流经营现金流 - 资本支出 | $12.8M | $24.5M |
| 自由现金流率自由现金流/营收 | 13.8% | 51.5% |
| 资本支出强度资本支出/营收 | 2.4% | 2.7% |
| 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 | $-4.3M |
8季度趋势，按日历期对齐
经营现金流VCELVIRC
| Q4 25 | $15.0M | $25.8M | ||
| Q3 25 | $22.1M | $3.2M | ||
| Q2 25 | $8.2M | $-19.0M | ||
| Q1 25 | $6.6M | $-8.3M | ||
| Q4 24 | $22.2M | $33.5M | ||
| Q3 24 | $10.2M | $12.5M | ||
| Q2 24 | $18.5M | $-4.5M | ||
| Q1 24 | $7.2M | $4.7M |
自由现金流VCELVIRC
| Q4 25 | $12.8M | $24.5M | ||
| Q3 25 | $19.5M | $1.8M | ||
| Q2 25 | $81.0K | $-21.5M | ||
| Q1 25 | $-7.6M | $-9.2M | ||
| Q4 24 | $8.5M | $31.0M | ||
| Q3 24 | $-9.2M | $10.7M | ||
| Q2 24 | $1.8M | $-5.6M | ||
| Q1 24 | $-6.8M | $4.0M |
自由现金流率VCELVIRC
| Q4 25 | 13.8% | 51.5% | ||
| Q3 25 | 28.8% | 2.0% | ||
| Q2 25 | 0.1% | -63.6% | ||
| Q1 25 | -14.5% | -32.4% | ||
| Q4 24 | 11.2% | 37.5% | ||
| Q3 24 | -15.9% | 9.8% | ||
| Q2 24 | 3.4% | -12.0% | ||
| Q1 24 | -13.3% | 9.5% |
资本支出强度VCELVIRC
| Q4 25 | 2.4% | 2.7% | ||
| Q3 25 | 3.9% | 1.5% | ||
| Q2 25 | 12.9% | 7.2% | ||
| Q1 25 | 27.0% | 3.3% | ||
| Q4 24 | 18.3% | 3.0% | ||
| Q3 24 | 33.5% | 1.7% | ||
| Q2 24 | 31.8% | 2.3% | ||
| Q1 24 | 27.3% | 1.5% |
现金转化率VCELVIRC
| Q4 25 | 0.65× | — | ||
| Q3 25 | 4.35× | 0.31× | ||
| Q2 25 | — | -26.00× | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.12× | 3.98× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | -2.11× | ||
| 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
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
VIRC
暂无分部数据
