Vericel (VCEL) Operating Margin (2011 - 2026)

Vericel (VCEL) posted Operating Margin of 0.56% for Q2 2026, up 104.75% sequentially from 11.79% in Q1 2026, and up 377.0% YoY from 0.12% in Q2 2025.

Analysis

Vericel (VCEL) Operating Margin (2011 - 2026) Analysis & Trends

Vericel has reported Operating Margin for 16 years, with the latest figure at 0.56% in Q2 2026.

Quarterly Operating Margin rose 377.0% year-over-year to 0.56% in Q2 2026, while the trailing twelve-month figure through Jun 2026 was 5.95% (up 547.0% YoY) and the FY2025 annual result came in at 4.0%, up 209.0% from the prior year.
Operating Margin grew to 0.56% in Q2 2026 per VCEL's latest filing, from 11.79% in the prior quarter.
Over five years, Operating Margin peaked at 24.52% in Q4 2024 and troughed at 24.52% in Q2 2022.
A 5-year average of 4.81% and a median of 10.87% in 2023 frame the typical range for Operating Margin.
The sharpest annual moves came in 2022 and 2026: Operating Margin tumbled 1508 bps in 2022, then soared 1254 bps in 2026.
Over 5 years, Operating Margin stood at 11.55% in 2022, then surged by 70 bps to 19.59% in 2023, then grew by 25 bps to 24.52% in 2024, then slipped by 2 bps to 24.12% in 2025, then slumped by 98 bps to 0.56% in 2026.
According to Business Quant data, Operating Margin over the past three periods registered 0.56%, 11.79%, and 24.12% for Q2 2026, Q1 2026, and Q4 2025 respectively.

Peer Set

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Qtr)
1	Vertex Pharmaceuticals	138.47 Bn	130.62 Bn	2.84 Bn	37.40%
2	Regeneron Pharmaceuticals	85.18 Bn	77.19 Bn	3.93 Bn	30.15%
3	Argenx Se	63.38 Bn	58.19 Bn	1.37 Bn	32.54%
4	Moderna	58.09 Bn	52.95 Bn	52.00 Mn	-562.07%
5	Revolution Medicines	44.33 Bn	44.33 Bn	-	-
6	BeOne Medicines	40.02 Bn	34.92 Bn	1.53 Bn	19.06%
7	Alnylam Pharmaceuticals	35.57 Bn	32.27 Bn	992.69 Mn	17.93%
8	Royalty Pharma	28.45 Bn	27.61 Bn	-	19.75%
9	Insmed	27.48 Bn	26.32 Bn	358.27 Mn	-0.36%
10	Vericel	2.05 Bn	1.89 Bn	56.40 Mn	0.56%

Historic Data

Download Data