Vericel Corporation (VCEL) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Biotechnology
EV/EBITDA
↓
92.16
↓-50% vs avg
5yr avg: 184.58
30Y Low83.6·High83.6
P/FCF
↓
83.51
↓-34% vs avg
5yr avg: 125.64
30Y Low75.8·High123.0
P/B Ratio
↓
5.94
↓-25% vs avg
5yr avg: 7.94
30Y Low1.0·High12.6
ROE
↑
5.1%
↓+491% vs avg
5yr avg: -1.3%
30Y Low-310%·High5%
Debt/EBITDA
↓
4.39
↓-38% vs avg
5yr avg: 7.12
30Y Low4.4·High11.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
VCEL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Vericel Corporation trades at 126.5x earnings, 35% below its 5-year average of 193.5x, sitting at the 100th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 472%. On a free-cash-flow basis, the stock trades at 83.5x P/FCF, 34% below the 5-year average of 125.6x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.1B | $1.9B | $2.8B | $1.7B | $1.2B | $1.8B | $1.5B | $769M | $700M | $182M | $69M |
| Enterprise Value | $2.1B | $1.9B | $2.9B | $1.7B | $1.2B | $1.8B | $1.5B | $770M | $682M | $172M | $56M |
| P/E Ratio → | 126.47 | 112.53 | 274.55 | — | — | — | 509.57 | — | — | — | — |
| P/S Ratio | 7.48 | 6.79 | 11.96 | 8.58 | 7.55 | 11.69 | 11.76 | 6.52 | 7.71 | 2.84 | 1.27 |
| P/B Ratio | 5.94 | 5.29 | 9.72 | 7.50 | 6.46 | 10.71 | 10.87 | 6.92 | 6.85 | 8.06 | 2.80 |
| P/FCF | 83.51 | 75.77 | — | 217.32 | 123.02 | 86.45 | 97.69 | — | — | — | — |
| P/OCF | 39.81 | 36.12 | 48.79 | 47.99 | 70.19 | 62.89 | 83.09 | — | — | — | — |
P/E links to full P/E history page with 30-year chart
VCEL EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Vericel Corporation's enterprise value stands at 92.2x EBITDA, 50% below its 5-year average of 184.6x. The Healthcare sector median is 14.2x, placing the stock at a 549% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.78 | 12.06 | 8.68 | 7.53 | 11.58 | 11.92 | 6.53 | 7.51 | 2.69 | 1.04 |
| EV / EBITDA | 92.16 | 83.61 | 285.55 | — | — | — | 311.20 | — | — | — | — |
| EV / EBIT | 186.97 | 98.94 | 257.28 | — | — | — | 485.16 | — | — | — | — |
| EV / FCF | — | 75.69 | — | 219.75 | 122.67 | 85.60 | 99.01 | — | — | — | — |
VCEL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Vericel Corporation earns an operating margin of 4.0%. Operating margins have expanded from -3.3% to 4.0% over the past 3 years, signaling improving operational efficiency. ROE of 5.1% is modest. ROIC of 2.5% represents below-average returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.4% | 74.4% | 72.6% | 68.6% | 66.8% | 67.9% | 67.8% | 68.1% | 64.6% | 52.5% | 47.9% |
| Operating Margin | 4.0% | 4.0% | 1.9% | -3.3% | -10.4% | -5.0% | 1.9% | -9.5% | -4.3% | -23.4% | -35.4% |
| Net Profit Margin | 6.0% | 6.0% | 4.4% | -1.6% | -10.2% | -4.8% | 2.3% | -8.2% | -9.0% | -27.0% | -36.0% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 5.1% | 5.1% | 4.0% | -1.5% | -9.2% | -4.9% | 2.3% | -9.1% | -13.0% | -73.2% | -83.5% |
| ROA | 3.6% | 3.6% | 2.6% | -1.0% | -6.5% | -3.3% | 1.6% | -7.1% | -9.4% | -33.5% | -47.2% |
| ROIC | 2.5% | 2.5% | 1.2% | -2.2% | -7.5% | -3.8% | 1.3% | -8.6% | -6.1% | -90.7% | -148.2% |
| ROCE | 2.7% | 2.7% | 1.3% | -2.4% | -7.5% | -3.9% | 1.5% | -9.5% | -5.4% | -38.8% | -66.4% |
VCEL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Vericel Corporation carries a Debt/EBITDA ratio of 4.4x, which is highly leveraged (36% above the sector average of 3.2x). The company holds a net cash position — cash of $100M exceeds total debt of $98M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 12.2x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.28 | 0.28 | 0.34 | 0.39 | 0.25 | 0.29 | 0.40 | 0.25 | — | 0.76 | 0.41 |
| Debt / EBITDA | 4.39 | 4.39 | 9.86 | — | — | — | 11.21 | — | — | — | — |
| Net Debt / Equity | — | -0.01 | 0.08 | 0.08 | -0.02 | -0.11 | 0.15 | 0.01 | -0.18 | -0.43 | -0.52 |
| Net Debt / EBITDA | -0.08 | -0.08 | 2.43 | — | — | — | 4.14 | — | — | — | — |
| Debt / FCF | — | -0.07 | — | 2.43 | -0.35 | -0.86 | 1.32 | — | — | — | — |
| Interest Coverage | 12.17 | 12.17 | 18.12 | -2.95 | -42.68 | -1894.50 | 508.33 | -1207.13 | -3.70 | -14.62 | -61.31 |
Net cash position: cash ($100M) exceeds total debt ($98M)
VCEL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Vericel Corporation's current ratio of 5.03x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 4.68x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 4.49x to 5.03x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.03 | 5.03 | 4.23 | 4.49 | 4.99 | 6.08 | 5.50 | 5.64 | 7.62 | 3.86 | 3.48 |
| Quick Ratio | 4.68 | 4.68 | 3.89 | 4.21 | 4.56 | 5.57 | 5.08 | 5.30 | 7.38 | 3.57 | 3.21 |
| Cash Ratio | 2.80 | 2.80 | 2.31 | 2.39 | 3.19 | 3.97 | 3.37 | 3.52 | 5.61 | 2.05 | 1.79 |
| Asset Turnover | — | 0.57 | 0.55 | 0.56 | 0.60 | 0.64 | 0.60 | 0.77 | 0.77 | 1.17 | 1.12 |
| Inventory Turnover | 4.02 | 4.02 | 3.75 | 4.73 | 3.41 | 3.75 | 4.27 | 5.51 | 9.04 | 8.00 | 8.12 |
| Days Sales Outstanding | — | 111.82 | 94.43 | 107.84 | 103.35 | 87.49 | 101.42 | 99.63 | 94.22 | 104.32 | 114.72 |
VCEL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Vericel Corporation does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.8% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.8% | 0.9% | 0.4% | — | — | — | 0.2% | — | — | — | — |
| FCF Yield | 1.2% | 1.3% | — | 0.5% | 0.8% | 1.2% | 1.0% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $52M | $52M | $48M | $47M | $46M | $47M | $44M | $40M | $33M | $23M |
Peer Comparison
Compare VCEL with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 VCELYou | $2B | 126.5 | 92.2 | 83.5 | 74.4% | 4.0% | 5.1% | 2.5% | 4.4 |
 MGTX | $1B | -8.1 | — | — | 94.0% | -130.2% | -368.2% | -241.1% | — |
 RCKT | $378M | -1.7 | — | — | — | — | -60.3% | -62.4% | — |
 FATE | $251M | -1.9 | — | — | -94.1% | -2222.4% | -51.8% | -36.5% | — |
 AGIO | $2B | -4.9 | — | — | 78.7% | -873.9% | -30.2% | -26.3% | — |
 NTLA | $2B | -4.1 | — | — | 76.5% | -651.7% | -53.5% | -44.0% | — |
 SGMO | $73M | -0.4 | — | — | 80.8% | -273.1% | -2891.8% | -5405.6% | — |
 MDXG | $545M | 11.5 | 5.1 | 7.5 | 82.6% | 15.3% | 21.6% | 42.3% | 0.3 |
 TELA | $36M | -1.0 | — | — | 67.7% | -42.0% | -223.4% | -169.0% | — |
 NVCR | $2B | -11.2 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 OSUR | $299M | -4.4 | — | — | 41.9% | -59.2% | -18.3% | -20.0% | — |
| Healthcare Median | — | 22.1 | 14.2 | 18.4 | 63.9% | -4.4% | -33.2% | -11.7% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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VCEL — Frequently Asked Questions
Quick answers to the most common questions about buying VCEL stock.
What is Vericel Corporation's P/E ratio?
Vericel Corporation's current P/E ratio is 126.5x. The historical average is 112.5x. This places it at the 100th percentile of its historical range.
What is Vericel Corporation's EV/EBITDA?
Vericel Corporation's current EV/EBITDA is 92.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 83.6x.
What is Vericel Corporation's ROE?
Vericel Corporation's return on equity (ROE) is 5.1%. The historical average is -78.8%.
Is VCEL stock overvalued?
Based on historical data, Vericel Corporation is trading at a P/E of 126.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Vericel Corporation's profit margins?
Vericel Corporation has 74.4% gross margin and 4.0% operating margin.
How much debt does Vericel Corporation have?
Vericel Corporation's Debt/EBITDA ratio is 4.4x, indicating high leverage. A ratio above 4x may signal elevated financial risk.