Vericel Corporation (VCEL) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Biotechnology
EV/EBITDA
↑
652.83
↑+38% vs avg
5yr avg: 471.52
P/FCF
↓
35.87
↓-69% vs avg
5yr avg: 115.73
30Y Low36.1·High123.0
P/B Ratio
↓
5.40
↓-32% 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
↑
33.82
↑+55% vs avg
5yr avg: 21.84
30Y Low9.9·High33.8
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 114.9x earnings, 41% 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 419%. On a free-cash-flow basis, the stock trades at 35.9x P/FCF, 69% below the 5-year average of 115.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.9B | $1.9B | $2.8B | $1.7B | $1.2B | $1.8B | $1.5B | $769M | $700M | $182M | $69M |
| Enterprise Value | $1.9B | $1.9B | $2.9B | $1.7B | $1.2B | $1.8B | $1.5B | $770M | $682M | $172M | $56M |
| P/E Ratio → | 114.94 | 112.53 | 274.55 | — | — | — | 509.57 | — | — | — | — |
| P/S Ratio | 6.74 | 6.79 | 11.96 | 8.58 | 7.55 | 11.69 | 11.76 | 6.52 | 7.71 | 2.84 | 1.27 |
| P/B Ratio | 5.40 | 5.29 | 9.72 | 7.50 | 6.46 | 10.71 | 10.87 | 6.92 | 6.85 | 8.06 | 2.80 |
| P/FCF | 35.87 | 36.12 | — | 217.32 | 123.02 | 86.45 | 97.69 | — | — | — | — |
| P/OCF | 35.87 | 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 652.8x EBITDA, 38% above its 5-year average of 471.5x. The Healthcare sector median is 14.1x, placing the stock at a 4517% 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 | — | 6.77 | 12.06 | 8.68 | 7.53 | 11.58 | 11.92 | 6.53 | 7.51 | 2.69 | 1.04 |
| EV / EBITDA | 652.83 | 657.50 | 285.55 | — | — | — | 311.20 | — | — | — | — |
| EV / EBIT | 168.23 | — | 257.28 | — | — | — | 485.16 | — | — | — | — |
| EV / FCF | — | 36.05 | — | 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 33.8x, which is highly leveraged (940% above the sector average of 3.3x). The company holds a net cash position — cash of $100M exceeds total debt of $96M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.27 | 0.27 | 0.34 | 0.39 | 0.25 | 0.29 | 0.40 | 0.25 | — | 0.76 | 0.41 |
| Debt / EBITDA | 33.82 | 33.82 | 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 | -1.35 | -1.35 | 2.43 | — | — | — | 4.14 | — | — | — | — |
| Debt / FCF | — | -0.07 | — | 2.43 | -0.35 | -0.86 | 1.32 | — | — | — | — |
| Interest Coverage | — | — | 7.36 | -10.77 | -46.61 | -1963.50 | 395.33 | -1406.38 | -2.26 | -13.54 | -61.29 |
Net cash position: cash ($100M) exceeds total debt ($96M)
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 0.9% (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 | 0.9% | 0.9% | 0.4% | — | — | — | 0.2% | — | — | — | — |
| FCF Yield | 2.8% | 2.8% | — | 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 | 114.9 | 652.8 | 35.9 | 74.4% | 4.0% | 5.1% | 2.5% | 33.8 |
 MGTX | $797M | -4.7 | — | — | 28.5% | -493.4% | -143.5% | -167.7% | — |
 RCKT | $418M | -1.9 | — | — | — | — | -60.3% | -63.2% | — |
 FATE | $264M | -2.0 | — | — | — | -2222.4% | -51.8% | -36.5% | — |
 AGIO | $2B | -3.8 | — | — | 78.7% | -873.9% | -30.2% | -26.3% | — |
 NTLA | $2B | -3.6 | — | — | — | — | -53.5% | — | — |
 SGMO | $38M | -0.4 | — | — | 100.0% | -179.9% | -185.4% | -178.8% | — |
 MDXG | $544M | 11.4 | 5.1 | 7.5 | 82.6% | 15.3% | 21.6% | 42.3% | 0.3 |
 TELA | $40M | -0.7 | — | — | 67.1% | -49.2% | -159.9% | -151.6% | — |
 NVCR | $2B | -13.5 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 OSUR | $216M | -3.2 | — | — | 41.9% | -59.2% | -18.3% | -20.0% | — |
| Healthcare Median | — | 22.1 | 14.1 | 18.7 | 63.9% | -5.3% | -33.7% | -10.8% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Start ComparisonVCEL — 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 114.9x. 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 652.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
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 114.9x. 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 33.8x, indicating high leverage. A ratio above 4x may signal elevated financial risk.