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Immucell vs QuidelOrtho: revenue, profit, margins and growth compared

Immucell brought in $27.6M of revenue in fiscal 2025, QuidelOrtho $2.7B in fiscal 2025. Revenue changed by +4.3% at Immucell and -1.9% at QuidelOrtho on the year before, so Immucell grew faster. Immucell kept -3.8% of its revenue as net profit, QuidelOrtho -41.5%. Free cash flow was $1.2M at Immucell and -$83M at QuidelOrtho.

Side by side, latest fiscal year

ICCCQDEL
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 28, 2025)
Revenue$27.6M$2.7B
Revenue growth+4.3%-1.9%
Net income-$1M-$1.1B
Net margin-3.8%-41.5%
Free cash flow$1.2M-$83M
Free cash flow margin4.4%-3.0%
Earnings per share (diluted)-$0.12-$16.69
Cash$3.8M$169.8M
Debt$9.1M$2.7B
Price to earningsn/an/a
Market value$90.1M$750.2M
Dividend yieldn/an/a
Rank by revenue in sector#396 of 523 · Health care#90 of 523 · Health care

Over the years

Revenue
ICCC FY2018: $11MICCC FY2019: $13.7MICCC FY2020: $15.3MICCC FY2021: $19.2MICCC FY2022: $18.6MICCC FY2023: $17.5MICCC FY2024: $26.5MICCC FY2025: $27.6MQDEL FY2020: $1.7BQDEL FY2022: $1.7BQDEL FY2022: $3.3BQDEL FY2023: $3BQDEL FY2024: $2.8BQDEL FY2025: $2.7BFY18FY19FY20FY21FY22FY23FY24FY25
ICCC $27.6MQDEL $2.7B
Net income
ICCC FY2018: -$2.3MICCC FY2019: -$1.3MICCC FY2020: -$1MICCC FY2021: -$78.3KICCC FY2022: -$2.5MICCC FY2023: -$5.8MICCC FY2024: -$2.2MICCC FY2025: -$1MQDEL FY2020: $810.3MQDEL FY2022: $704.2MQDEL FY2022: $548.7MQDEL FY2023: -$10.1MQDEL FY2024: -$2.1BQDEL FY2025: -$1.1BFY18FY19FY20FY21FY22FY23FY24FY25
ICCC -$1MQDEL -$1.1B
Net margin
ICCC FY2018: -21.1%ICCC FY2019: -9.4%ICCC FY2020: -6.7%ICCC FY2021: -0.4%ICCC FY2022: -13.4%ICCC FY2023: -33.1%ICCC FY2024: -8.1%ICCC FY2025: -3.8%QDEL FY2020: 48.8%QDEL FY2022: 41.5%QDEL FY2022: 16.8%QDEL FY2023: -0.3%QDEL FY2024: -73.7%QDEL FY2025: -41.5%FY18FY19FY20FY21FY22FY23FY24FY25
ICCC -3.8%QDEL -41.5%
Revenue growth
ICCC FY2019: +24.9%ICCC FY2020: +11.8%ICCC FY2021: +25.4%ICCC FY2022: -3.5%ICCC FY2023: -5.9%ICCC FY2024: +51.6%ICCC FY2025: +4.3%QDEL FY2022: +2.2%QDEL FY2022: +92.3%QDEL FY2023: -8.2%QDEL FY2024: -7.2%QDEL FY2025: -1.9%FY19FY20FY21FY22FY23FY24FY25
ICCC +4.3%QDEL -1.9%
Free cash flow
ICCC FY2018: -$2.4MICCC FY2019: -$1.2MICCC FY2020: -$2.8MICCC FY2021: -$1.7MICCC FY2022: -$5.5MICCC FY2023: -$6.6MICCC FY2024: -$107.8KICCC FY2025: $1.2MQDEL FY2020: $564.8MQDEL FY2022: $513.1MQDEL FY2022: $744.4MQDEL FY2023: $70.9MQDEL FY2024: -$112.1MQDEL FY2025: -$83MFY18FY19FY20FY21FY22FY23FY24FY25
ICCC $1.2MQDEL -$83M

Fiscal years as each company reports them; the two may end in different months.

Questions about Immucell and QuidelOrtho

Which is bigger by revenue, Immucell or QuidelOrtho?

QuidelOrtho is bigger by revenue: $2.7B in fiscal 2025, against $27.6M for Immucell in fiscal 2025.

Which keeps more of its revenue as profit, Immucell or QuidelOrtho?

Immucell had a net margin of -3.8% in fiscal 2025; QuidelOrtho had -41.5% in fiscal 2025.

Which grew revenue faster, Immucell or QuidelOrtho?

In their latest fiscal years revenue changed by +4.3% at Immucell and -1.9% at QuidelOrtho.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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