Carlsmed (CARL) FCF Margin (2024 - 2026)
Carlsmed (CARL) posted FCF Margin of 81.2% for Q1 2026, down 156.91% on a QoQ basis from 31.61% in Q4 2025, and down 35.0% year-over-year from 124.92% in Q1 2025.
Carlsmed (CARL) FCF Margin (2024 - 2026) Analysis & Trends
Carlsmed's FCF Margin history runs 3 years deep, the most recent figure standing at 81.2% for 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 was 81.2% for Q1 2026 at Carlsmed, down from 31.61% in the prior quarter.
- Across five years, FCF Margin topped out at 31.61% in Q4 2025 and bottomed at 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 slumped 35 bps.
- Carlsmed's FCF Margin stood at 43.41% in 2024, then gained by 27 bps to 31.61% in 2025, then slumped by 157 bps to 81.2% in 2026.
- Business Quant data shows CARL's FCF Margin at 81.2% in Q1 2026, 31.61% in Q4 2025, and 65.92% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 29.34 Bn | 22.03 Bn | 662.02 Mn | 127.46% |
| 2 | BrightSpring Health Services | 13.49 Bn | 12.59 Bn | 482.22 Mn | 2.81% |
| 3 | Healthequity | 7.96 Bn | 7.70 Bn | 256.31 Mn | 23.01% |
| 4 | 10x Genomics | 6.17 Bn | 5.63 Bn | 106.18 Mn | 17.24% |
| 5 | Hinge Health | 6.02 Bn | 5.70 Bn | 154.23 Mn | 23.59% |
| 6 | MiniMed | 4.19 Bn | 3.89 Bn | 480.00 Mn | -27.00% |
| 7 | Waystar Holding | 4.14 Bn | 4.07 Bn | 216.84 Mn | 22.17% |
| 8 | Doximity | 3.82 Bn | 3.08 Bn | 125.97 Mn | 79.91% |
| 9 | Privia Health | 3.10 Bn | 2.73 Bn | - | -8.03% |
| 10 | Carlsmed | 295.19 Mn | 222.08 Mn | 12.43 Mn | -81.20% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |