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American Assets Trust, Inc.（AAT）与Apellis Pharmaceuticals, Inc.（APLS）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是American Assets Trust, Inc.的1.8倍（$199.9M vs $110.6M），American Assets Trust, Inc.净利率更高（6.1% vs -29.5%，领先35.6%），American Assets Trust, Inc.同比增速更快（1.8% vs -5.9%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -0.1%）
该公司是一家大型英国投资信托，在伦敦证券交易所上市，同时是富时250指数的成分股，现任董事长为获颁CBE勋章的伊恩·弗格森。
Apellis Pharmaceuticals是一家临床阶段生物制药企业，专注于开发调节补体系统的靶向疗法，适应症覆盖年龄相关性黄斑变性继发地图样萎缩等眼科疾病、罕见血液病及自身免疫性疾病，核心市场为美国及欧盟地区。
AAT vs APLS — 直观对比
营收规模更大
APLS
是对方的1.8倍
$110.6M
营收增速更快
AAT
高出7.8%
-5.9%
净利率更高
AAT
高出35.6%
-29.5%
两年增速更快
APLS
近两年复合增速
-0.1%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $110.6M | $199.9M |
| 净利润 | $6.7M | $-59.0M |
| 毛利率 | — | — |
| 营业利润率 | 23.4% | -25.6% |
| 净利率 | 6.1% | -29.5% |
| 营收同比 | 1.8% | -5.9% |
| 净利润同比 | -16.3% | -62.2% |
| 每股收益（稀释后） | $0.08 | $-0.40 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AATAPLS
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $199.9M | ||
| Q3 25 | $109.6M | $458.6M | ||
| Q2 25 | $107.9M | $178.5M | ||
| Q1 25 | $108.6M | $166.8M | ||
| Q4 24 | $113.5M | $212.5M | ||
| Q3 24 | $122.8M | $196.8M | ||
| Q2 24 | $110.9M | $199.7M |
净利润AATAPLS
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | $-59.0M | ||
| Q3 25 | $4.5M | $215.7M | ||
| Q2 25 | $5.5M | $-42.2M | ||
| Q1 25 | $42.5M | $-92.2M | ||
| Q4 24 | — | $-36.4M | ||
| Q3 24 | $16.7M | $-57.4M | ||
| Q2 24 | $11.9M | $-37.7M |
毛利率AATAPLS
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | — | ||
| Q3 25 | 60.5% | — | ||
| Q2 25 | 62.6% | — | ||
| Q1 25 | 62.0% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 65.5% | — | ||
| Q2 24 | 63.6% | — |
营业利润率AATAPLS
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -25.6% | ||
| Q3 25 | 22.6% | 48.7% | ||
| Q2 25 | 24.1% | -18.6% | ||
| Q1 25 | 66.3% | -50.0% | ||
| Q4 24 | 26.5% | -12.3% | ||
| Q3 24 | 30.8% | -24.0% | ||
| Q2 24 | 27.8% | -14.7% |
净利率AATAPLS
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | -29.5% | ||
| Q3 25 | 4.1% | 47.0% | ||
| Q2 25 | 5.1% | -23.6% | ||
| Q1 25 | 39.2% | -55.3% | ||
| Q4 24 | — | -17.1% | ||
| Q3 24 | 13.6% | -29.2% | ||
| Q2 24 | 10.7% | -18.9% |
每股收益（稀释后）AATAPLS
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | $-0.40 | ||
| Q3 25 | $0.07 | $1.67 | ||
| Q2 25 | $0.09 | $-0.33 | ||
| Q1 25 | $0.70 | $-0.74 | ||
| Q4 24 | $0.14 | $-0.30 | ||
| Q3 24 | $0.28 | $-0.46 | ||
| Q2 24 | $0.20 | $-0.30 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $118.3M | $466.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $1.1B | $370.1M |
| 总资产 | $2.9B | $1.1B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AATAPLS
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $466.2M | ||
| Q3 25 | $138.7M | $479.2M | ||
| Q2 25 | $143.7M | $370.0M | ||
| Q1 25 | $143.9M | $358.4M | ||
| Q4 24 | $425.7M | $411.3M | ||
| Q3 24 | $533.0M | $396.9M | ||
| Q2 24 | $114.9M | $360.1M |
总债务AATAPLS
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益AATAPLS
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $370.1M | ||
| Q3 25 | $1.2B | $401.2M | ||
| Q2 25 | $1.2B | $156.3M | ||
| Q1 25 | $1.2B | $164.2M | ||
| Q4 24 | $1.2B | $228.5M | ||
| Q3 24 | $1.2B | $237.1M | ||
| Q2 24 | $1.2B | $264.3M |
总资产AATAPLS
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $1.1B | ||
| Q3 25 | $2.9B | $1.1B | ||
| Q2 25 | $3.0B | $821.4M | ||
| Q1 25 | $3.0B | $807.3M | ||
| Q4 24 | $3.3B | $885.1M | ||
| Q3 24 | $3.4B | $901.9M | ||
| Q2 24 | $3.0B | $904.5M |
负债/权益比AATAPLS
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $-14.2M |
| 自由现金流经营现金流 - 资本支出 | — | $-14.3M |
| 自由现金流率自由现金流/营收 | — | -7.1% |
| 资本支出强度资本支出/营收 | 14.5% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $45.0M |
8季度趋势，按日历期对齐
经营现金流AATAPLS
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $-14.2M | ||
| Q3 25 | $40.5M | $108.5M | ||
| Q2 25 | $49.2M | $4.4M | ||
| Q1 25 | $36.9M | $-53.4M | ||
| Q4 24 | $207.1M | $19.4M | ||
| Q3 24 | $52.4M | $34.1M | ||
| Q2 24 | $59.3M | $-8.3M |
自由现金流AATAPLS
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $-14.3M | ||
| Q3 25 | $23.1M | $108.3M | ||
| Q2 25 | $28.4M | $4.4M | ||
| Q1 25 | $20.4M | $-53.4M | ||
| Q4 24 | $136.9M | $19.3M | ||
| Q3 24 | $28.0M | — | ||
| Q2 24 | $43.6M | $-8.4M |
自由现金流率AATAPLS
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | -7.1% | ||
| Q3 25 | 21.1% | 23.6% | ||
| Q2 25 | 26.3% | 2.5% | ||
| Q1 25 | 18.8% | -32.0% | ||
| Q4 24 | 120.7% | 9.1% | ||
| Q3 24 | 22.8% | — | ||
| Q2 24 | 39.3% | -4.2% |
资本支出强度AATAPLS
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 0.1% | ||
| Q3 25 | 15.9% | 0.0% | ||
| Q2 25 | 19.3% | 0.0% | ||
| Q1 25 | 15.1% | 0.0% | ||
| Q4 24 | 61.9% | 0.0% | ||
| Q3 24 | 19.9% | 0.0% | ||
| Q2 24 | 14.1% | 0.0% |
现金转化率AATAPLS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | 0.50× | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
APLS
| Syfovre | $155.2M | 78% |
| Empaveli Pegcetacoplan | $35.1M | 18% |
| Licensing And Other Revenue | $9.6M | 5% |
