Carlsmed (CARL) FCF Margin (2024 - 2026)
Carlsmed's (CARL) quarterly FCF Margin came in at 81.2% in Q1 2026, down 35.0% YoY from 124.92% in Q1 2025, and down 156.91% on a QoQ basis from 31.61% in Q4 2025.
Carlsmed (CARL) FCF Margin (2024 - 2026) Analysis & Trends
Carlsmed (CARL) has 3 years of FCF Margin data on file, last reported at 81.2% in Q1 2026.
- Quarterly FCF Margin fell 35.0% year-over-year to 81.2% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 60.01% (up 183.0% YoY) and the FY2025 annual result came in at 57.45%, up 3630.0% from the prior year.
- FCF Margin retreated to 81.2% in Q1 2026, from 31.61% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 31.61% in Q4 2025 to a low of 115.81% in Q3 2024.
- A 3-year average of 68.54% and a median of 65.92% in 2025 frame the typical range for FCF Margin.
- Annual changes were most pronounced in 2025 — FCF Margin surged 4989 bps — and 2026, when it tumbled 35 bps.
- Tracing CARL's FCF Margin over 3 years: stood at 43.41% in 2024, then increased by 27 bps to 31.61% in 2025, then plunged by 157 bps to 81.2% in 2026.
- The last three FCF Margin figures came in at 81.2% (Q1 2026), 31.61% (Q4 2025), and 65.92% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 127.46% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 0.38% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 23.01% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | 10.19% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 46.84% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | -27.00% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 13.54% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 25.33% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | - |
| 10 | Carlsmed | 389.87 Mn | 276.57 Mn | 14.54 Mn | -42.16% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -42.16% |
| Mar 31, 2026 | -81.20% |
| Dec 31, 2025 | -31.61% |
| Sep 30, 2025 | -65.92% |
| Jun 30, 2025 | -60.99% |
| Mar 31, 2025 | -80.85% |
| Dec 31, 2024 | -43.41% |
| Sep 30, 2024 | -115.81% |