Vericel Corporation

VCELNASDAQHealthcare● Active

$35.77

$-0.53(-1.46%)

Market Cap$1.8B

P/E Ratio—

52W High$45.97

52W Low$28.95

Avg Volume664K

Open$36.38

Beta1.13

Free Cash Flow Financials Revenue

Vericel Corporation (VCEL) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

VCEL · free cash flow · updated Jun 9, 2026

Core FCF metrics

VCEL · FCF · TTM · margin & CAGR

Free cash flow was $24.7M for FY2025 (fiscal year ending 2025-12-31), up 525.9% year-over-year The FCF margin was 9.0%. Five-year CAGR stands at +10.6%.

FY2025 Free Cash Flow$24.7M▲ +525.9% YoY

Trailing 12M (TTM)$57.8Mtrailing 4 quarters sum

FCF Margin9.0%$24.7M ÷ revenue

3-Year CAGR+34.9%FY2022 → FY2025

5-Year CAGR+10.6%FY2020 → FY2025

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 9, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

VCEL · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$51.9M(27M)$24.7M▲ +525.9%9.0%

FY2024$58.2M(64M)−$5.8M▼ 174.5%-2.5%

FY2023$35.3M(28M)$7.8M▼ 22.7%4.0%

FY2022$17.7M(8M)$10.1M▼ 52.2%6.1%

FY2021$29.0M(8M)$21.1M▲ +41.3%13.5%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

VCEL · P/FCF · FCF yield · FCF per share

Vericel Corporation (VCEL) trades at a FCF yield of 3.16% and a price-to-free-cash-flow ratio of 31.4x. FCF per share stands at $1.14, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

3.16%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$1.14

TTM FCF ÷ Shares Outstanding

Price / FCF

x31.4

Share Price ÷ FCF per Share

EV / FCF (TTM)

x31.3

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

VCEL · cash flow statement · operating / investing / financing

For FY2025, Vericel Corporation generated $51.9M in operating cash flow and spent 27M in capital expenditures, yielding $24.7M in free cash flow.

Operating Activities

+$51.9M

Cash from core business operations

2025-12-31

Investing Activities

−$43.9M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$7.1M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($51.9M) − |CapEx| (27M) = FCF ($24.7M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

VCEL vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Vericel CorporationYOU

VCEL

$24.7M+525.9%9.0%

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Vericel Corporation (VCEL) reported free cash flow of $24.7M for FY2025 (fiscal year ending 2025-12-31), up 525.9% year-over-year. The FCF margin was 9.0%.

Based on available data, Vericel Corporation has maintained positive free cash flow for at least 5 fiscal year(s). FCF peaked at $24.7M in FY2025. The 5-year CAGR stands at +10.6%.

Vericel Corporation's FCF yield is 3.16% and price-to-FCF ratio is 31.4x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

VCEL free cash flow · 8 questions

Vericel Corporation free cash flow was $24.7M for FY2025, up 525.9% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $57.8M.

VCEL free cash flowVCEL FCFVCEL FCF 2025VCEL free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Vericel Corporation · Vericel Corporation SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026