Krystal Biotech vs Vericel
Krystal Biotech reported revenue of $389 million in fiscal 2025, 1.4 times Vericel's $276 million in fiscal 2025. Krystal Biotech's revenue grew 33.9% in its latest year, and Vericel's grew 16.4%. Krystal Biotech had an operating margin of 41.5%, against 4.0% at Vericel. Free cash flow was $189 million at Krystal Biotech and $25 million at Vericel.
Side by side
| Krystal Biotech | Vericel | |
|---|---|---|
| Latest fiscal year | FY2025, Dec 31, 2025 | FY2025, Dec 31, 2025 |
| Revenue | $389M | $276M |
| Revenue growth | 33.9% | 16.4% |
| Revenue growth a year, last 5 years | — | 17.3% |
| Gross margin | — | 74.4% |
| Operating margin | 41.5% | 4.0% |
| Net margin | 52.6% | 6.0% |
| Free cash flow | $189M | $25M |
| Free cash flow margin | 48.5% | 9.0% |
| Return on capital | 43.6% | — |
| Net debt to EBITDA | −5.0x | — |
| Dividends and buybacks | $0M | $0M |
| Change in diluted share count | 0.7% | 0.9% |
| Last close | $300.88 | $54.62 |
| P/E at the last close | 40.8× | 85.3× |
| Insider trades, last 12 months | sold $105.3 million | sold $8.7 million |
| Piotroski F-score | 5 of 8 | — |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
Krystal BiotechVericel
Operating margin
Percent of revenue
Krystal BiotechVericel
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
Krystal BiotechVericel
Source: the companies' Form 10-K filings, from SEC EDGAR, and the last close. For information only, not investment advice: the figures describe results, not which company is the better investment. The Filing Desk is not affiliated with either company. Full figures on the Krystal Biotech and Vericel pages.