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Vericel Corp（VCEL）与ZIPRECRUITER, INC.（ZIP）财务数据对比。点击上方公司名可切换其他公司
ZIPRECRUITER, INC.的季度营收约是Vericel Corp的1.2倍（$111.7M vs $92.9M），Vericel Corp净利率更高（25.0% vs -0.7%，领先25.8%），Vericel Corp同比增速更快（23.3% vs 0.6%），Vericel Corp自由现金流更多（$12.8M vs $7.6M），过去两年Vericel Corp的营收复合增速更高（34.6% vs -4.4%）
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。
ZipRecruiter, Inc.是一家美国线上招聘平台企业，主打面向求职者与招聘方的求职招聘匹配服务，为双方提供高效对接的人才服务市场，帮助求职者快速找到适配岗位，也助力企业高效完成招聘需求。
VCEL vs ZIP — 直观对比
营收规模更大
ZIP
是对方的1.2倍
$92.9M
营收增速更快
VCEL
高出22.7%
0.6%
净利率更高
VCEL
高出25.8%
-0.7%
自由现金流更多
VCEL
多$5.2M
$7.6M
两年增速更快
VCEL
近两年复合增速
-4.4%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $92.9M | $111.7M |
| 净利润 | $23.2M | $-835.0K |
| 毛利率 | 78.7% | 89.1% |
| 营业利润率 | 24.1% | 3.6% |
| 净利率 | 25.0% | -0.7% |
| 营收同比 | 23.3% | 0.6% |
| 净利润同比 | 17.3% | 92.3% |
| 每股收益（稀释后） | $0.46 | $-0.03 |
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VCELZIP
| Q4 25 | $92.9M | $111.7M | ||
| Q3 25 | $67.5M | $115.0M | ||
| Q2 25 | $63.2M | $112.2M | ||
| Q1 25 | $52.6M | $110.1M | ||
| Q4 24 | $75.4M | $111.0M | ||
| Q3 24 | $57.9M | $117.1M | ||
| Q2 24 | $52.7M | $123.7M | ||
| Q1 24 | $51.3M | $122.2M |
净利润VCELZIP
| Q4 25 | $23.2M | $-835.0K | ||
| Q3 25 | $5.1M | $-9.8M | ||
| Q2 25 | $-553.0K | $-9.5M | ||
| Q1 25 | $-11.2M | $-12.8M | ||
| Q4 24 | $19.8M | $-10.8M | ||
| Q3 24 | $-901.0K | $-2.6M | ||
| Q2 24 | $-4.7M | $7.0M | ||
| Q1 24 | $-3.9M | $-6.5M |
毛利率VCELZIP
| Q4 25 | 78.7% | 89.1% | ||
| Q3 25 | 73.5% | 89.1% | ||
| Q2 25 | 73.7% | 89.3% | ||
| Q1 25 | 69.0% | 89.4% | ||
| Q4 24 | 77.6% | 89.6% | ||
| Q3 24 | 71.9% | 89.4% | ||
| Q2 24 | 69.5% | 89.5% | ||
| Q1 24 | 68.9% | 89.1% |
营业利润率VCELZIP
| Q4 25 | 24.1% | 3.6% | ||
| Q3 25 | 5.1% | -4.4% | ||
| Q2 25 | -3.2% | -5.9% | ||
| Q1 25 | -24.3% | -10.6% | ||
| Q4 24 | 24.5% | -3.6% | ||
| Q3 24 | -4.3% | -2.8% | ||
| Q2 24 | -11.5% | 7.6% | ||
| Q1 24 | -10.7% | -0.7% |
净利率VCELZIP
| Q4 25 | 25.0% | -0.7% | ||
| Q3 25 | 7.5% | -8.5% | ||
| Q2 25 | -0.9% | -8.5% | ||
| Q1 25 | -21.4% | -11.7% | ||
| Q4 24 | 26.3% | -9.7% | ||
| Q3 24 | -1.6% | -2.2% | ||
| Q2 24 | -8.9% | 5.7% | ||
| Q1 24 | -7.5% | -5.3% |
每股收益（稀释后）VCELZIP
| Q4 25 | $0.46 | $-0.03 | ||
| Q3 25 | $0.10 | $-0.11 | ||
| Q2 25 | $-0.01 | $-0.10 | ||
| Q1 25 | $-0.23 | $-0.13 | ||
| Q4 24 | $0.40 | $-0.10 | ||
| Q3 24 | $-0.02 | $-0.03 | ||
| Q2 24 | $-0.10 | $0.07 | ||
| Q1 24 | $-0.08 | $-0.07 |
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 | $188.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $354.6M | $-77.2M |
| 总资产 | $488.0M | $569.7M |
| 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VCELZIP
| Q4 25 | $137.5M | $188.0M | ||
| Q3 25 | $135.4M | $211.8M | ||
| Q2 25 | $116.9M | $203.5M | ||
| Q1 25 | $112.9M | $221.1M | ||
| Q4 24 | $116.2M | $218.4M | ||
| Q3 24 | $101.7M | $225.6M | ||
| Q2 24 | $102.5M | $271.7M | ||
| Q1 24 | $110.6M | $282.5M |
股东权益VCELZIP
| Q4 25 | $354.6M | $-77.2M | ||
| Q3 25 | $321.9M | $-76.1M | ||
| Q2 25 | $306.8M | $-65.9M | ||
| Q1 25 | $295.5M | $-11.3M | ||
| Q4 24 | $292.0M | $13.4M | ||
| Q3 24 | $257.5M | $13.6M | ||
| Q2 24 | $243.0M | $24.4M | ||
| Q1 24 | $233.9M | $12.7M |
总资产VCELZIP
| Q4 25 | $488.0M | $569.7M | ||
| Q3 25 | $453.3M | $573.6M | ||
| Q2 25 | $435.6M | $592.4M | ||
| Q1 25 | $424.6M | $629.4M | ||
| Q4 24 | $432.7M | $664.1M | ||
| Q3 24 | $390.4M | $652.0M | ||
| Q2 24 | $376.8M | $665.3M | ||
| Q1 24 | $356.7M | $662.4M |
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 | $7.7M |
| 自由现金流经营现金流 - 资本支出 | $12.8M | $7.6M |
| 自由现金流率自由现金流/营收 | 13.8% | 6.8% |
| 资本支出强度资本支出/营收 | 2.4% | 0.1% |
| 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 | $9.9M |
8季度趋势，按日历期对齐
经营现金流VCELZIP
| Q4 25 | $15.0M | $7.7M | ||
| Q3 25 | $22.1M | $2.6M | ||
| Q2 25 | $8.2M | $10.5M | ||
| Q1 25 | $6.6M | $-9.9M | ||
| Q4 24 | $22.2M | $12.5M | ||
| Q3 24 | $10.2M | $9.3M | ||
| Q2 24 | $18.5M | $21.9M | ||
| Q1 24 | $7.2M | $2.0M |
自由现金流VCELZIP
| Q4 25 | $12.8M | $7.6M | ||
| Q3 25 | $19.5M | $2.2M | ||
| Q2 25 | $81.0K | $10.2M | ||
| Q1 25 | $-7.6M | $-10.2M | ||
| Q4 24 | $8.5M | $12.0M | ||
| Q3 24 | $-9.2M | $9.2M | ||
| Q2 24 | $1.8M | $21.7M | ||
| Q1 24 | $-6.8M | $1.9M |
自由现金流率VCELZIP
| Q4 25 | 13.8% | 6.8% | ||
| Q3 25 | 28.8% | 1.9% | ||
| Q2 25 | 0.1% | 9.1% | ||
| Q1 25 | -14.5% | -9.3% | ||
| Q4 24 | 11.2% | 10.8% | ||
| Q3 24 | -15.9% | 7.8% | ||
| Q2 24 | 3.4% | 17.6% | ||
| Q1 24 | -13.3% | 1.6% |
资本支出强度VCELZIP
| Q4 25 | 2.4% | 0.1% | ||
| Q3 25 | 3.9% | 0.3% | ||
| Q2 25 | 12.9% | 0.3% | ||
| Q1 25 | 27.0% | 0.3% | ||
| Q4 24 | 18.3% | 0.4% | ||
| Q3 24 | 33.5% | 0.2% | ||
| Q2 24 | 31.8% | 0.1% | ||
| Q1 24 | 27.3% | 0.1% |
现金转化率VCELZIP
| Q4 25 | 0.65× | — | ||
| Q3 25 | 4.35× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.12× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.12× | ||
| 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% |
ZIP
| License | $84.3M | 75% |
| Services | $27.4M | 25% |
