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Adeia Inc.（ADEA）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Adeia Inc.的1.1倍（$199.9M vs $182.6M），Adeia Inc.净利率更高（40.4% vs -29.5%，领先69.8%），Adeia Inc.同比增速更快（53.3% vs -5.9%），Adeia Inc.自由现金流更多（$59.4M vs $-14.3M），过去两年Adeia Inc.的营收复合增速更高（48.0% vs 7.7%）
Adeia Inc.是一家全球化知识产权授权与创新企业，主营半导体制造、消费电子、媒体分发及智能设备领域的专利技术研发与商业化合作，与全球多家头部科技企业达成授权合作，推动相关行业技术升级。
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。
ADEA vs APLS — 直观对比
营收规模更大
APLS
是对方的1.1倍
$182.6M
营收增速更快
ADEA
高出59.2%
-5.9%
净利率更高
ADEA
高出69.8%
-29.5%
自由现金流更多
ADEA
多$73.7M
$-14.3M
两年增速更快
ADEA
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $182.6M | $199.9M |
| 净利润 | $73.7M | $-59.0M |
| 毛利率 | — | — |
| 营业利润率 | 59.5% | -25.6% |
| 净利率 | 40.4% | -29.5% |
| 营收同比 | 53.3% | -5.9% |
| 净利润同比 | 104.6% | -62.2% |
| 每股收益（稀释后） | $0.66 | $-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ADEAAPLS
| Q4 25 | $182.6M | $199.9M | ||
| Q3 25 | $87.3M | $458.6M | ||
| Q2 25 | $85.7M | $178.5M | ||
| Q1 25 | $87.7M | $166.8M | ||
| Q4 24 | $119.2M | $212.5M | ||
| Q3 24 | $86.1M | $196.8M | ||
| Q2 24 | $87.3M | $199.7M | ||
| Q1 24 | $83.4M | $172.3M |
净利润ADEAAPLS
| Q4 25 | $73.7M | $-59.0M | ||
| Q3 25 | $8.8M | $215.7M | ||
| Q2 25 | $16.7M | $-42.2M | ||
| Q1 25 | $11.8M | $-92.2M | ||
| Q4 24 | $36.0M | $-36.4M | ||
| Q3 24 | $19.3M | $-57.4M | ||
| Q2 24 | $8.4M | $-37.7M | ||
| Q1 24 | $899.0K | $-66.4M |
营业利润率ADEAAPLS
| Q4 25 | 59.5% | -25.6% | ||
| Q3 25 | 30.9% | 48.7% | ||
| Q2 25 | 19.1% | -18.6% | ||
| Q1 25 | 26.0% | -50.0% | ||
| Q4 24 | 48.2% | -12.3% | ||
| Q3 24 | 32.7% | -24.0% | ||
| Q2 24 | 27.1% | -14.7% | ||
| Q1 24 | 23.2% | -36.0% |
净利率ADEAAPLS
| Q4 25 | 40.4% | -29.5% | ||
| Q3 25 | 10.1% | 47.0% | ||
| Q2 25 | 19.5% | -23.6% | ||
| Q1 25 | 13.5% | -55.3% | ||
| Q4 24 | 30.2% | -17.1% | ||
| Q3 24 | 22.4% | -29.2% | ||
| Q2 24 | 9.6% | -18.9% | ||
| Q1 24 | 1.1% | -38.5% |
每股收益（稀释后）ADEAAPLS
| Q4 25 | $0.66 | $-0.40 | ||
| Q3 25 | $0.08 | $1.67 | ||
| Q2 25 | $0.15 | $-0.33 | ||
| Q1 25 | $0.10 | $-0.74 | ||
| Q4 24 | $0.32 | $-0.30 | ||
| Q3 24 | $0.17 | $-0.46 | ||
| Q2 24 | $0.07 | $-0.30 | ||
| Q1 24 | $0.01 | $-0.54 |
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 | $136.7M | $466.2M |
| 总债务越低越好 | $418.5M | — |
| 股东权益账面价值 | $480.5M | $370.1M |
| 总资产 | $1.0B | $1.1B |
| 负债/权益比越低杠杆越低 | 0.87× | — |
8季度趋势，按日历期对齐
现金及短期投资ADEAAPLS
| Q4 25 | $136.7M | $466.2M | ||
| Q3 25 | $115.1M | $479.2M | ||
| Q2 25 | $116.5M | $370.0M | ||
| Q1 25 | $116.5M | $358.4M | ||
| Q4 24 | $110.4M | $411.3M | ||
| Q3 24 | $89.2M | $396.9M | ||
| Q2 24 | $94.5M | $360.1M | ||
| Q1 24 | $89.0M | $325.9M |
总债务ADEAAPLS
| Q4 25 | $418.5M | — | ||
| Q3 25 | $438.7M | — | ||
| Q2 25 | $448.9M | — | ||
| Q1 25 | $459.2M | — | ||
| Q4 24 | $475.5M | — | ||
| Q3 24 | $524.4M | — | ||
| Q2 24 | $535.6M | — | ||
| Q1 24 | $546.3M | $93.1M |
股东权益ADEAAPLS
| Q4 25 | $480.5M | $370.1M | ||
| Q3 25 | $413.7M | $401.2M | ||
| Q2 25 | $402.9M | $156.3M | ||
| Q1 25 | $389.5M | $164.2M | ||
| Q4 24 | $396.6M | $228.5M | ||
| Q3 24 | $378.2M | $237.1M | ||
| Q2 24 | $359.1M | $264.3M | ||
| Q1 24 | $350.0M | $266.7M |
总资产ADEAAPLS
| Q4 25 | $1.0B | $1.1B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $1.1B | $821.4M | ||
| Q1 25 | $1.1B | $807.3M | ||
| Q4 24 | $1.1B | $885.1M | ||
| Q3 24 | $1.1B | $901.9M | ||
| Q2 24 | $1.1B | $904.5M | ||
| Q1 24 | $1.1B | $831.9M |
负债/权益比ADEAAPLS
| Q4 25 | 0.87× | — | ||
| Q3 25 | 1.06× | — | ||
| Q2 25 | 1.11× | — | ||
| Q1 25 | 1.18× | — | ||
| Q4 24 | 1.20× | — | ||
| Q3 24 | 1.39× | — | ||
| Q2 24 | 1.49× | — | ||
| Q1 24 | 1.56× | 0.35× |
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 | $60.0M | $-14.2M |
| 自由现金流经营现金流 - 资本支出 | $59.4M | $-14.3M |
| 自由现金流率自由现金流/营收 | 32.5% | -7.1% |
| 资本支出强度资本支出/营收 | 0.3% | 0.1% |
| 现金转化率经营现金流/净利润 | 0.81× | — |
| 过去12个月自由现金流最近4个季度 | $156.3M | $45.0M |
8季度趋势，按日历期对齐
经营现金流ADEAAPLS
| Q4 25 | $60.0M | $-14.2M | ||
| Q3 25 | $17.8M | $108.5M | ||
| Q2 25 | $23.1M | $4.4M | ||
| Q1 25 | $57.1M | $-53.4M | ||
| Q4 24 | $107.5M | $19.4M | ||
| Q3 24 | $14.3M | $34.1M | ||
| Q2 24 | $23.5M | $-8.3M | ||
| Q1 24 | $67.2M | $-133.0M |
自由现金流ADEAAPLS
| Q4 25 | $59.4M | $-14.3M | ||
| Q3 25 | $17.0M | $108.3M | ||
| Q2 25 | $22.9M | $4.4M | ||
| Q1 25 | $56.9M | $-53.4M | ||
| Q4 24 | $106.9M | $19.3M | ||
| Q3 24 | $14.3M | — | ||
| Q2 24 | $23.0M | $-8.4M | ||
| Q1 24 | $66.4M | $-133.3M |
自由现金流率ADEAAPLS
| Q4 25 | 32.5% | -7.1% | ||
| Q3 25 | 19.5% | 23.6% | ||
| Q2 25 | 26.7% | 2.5% | ||
| Q1 25 | 64.9% | -32.0% | ||
| Q4 24 | 89.7% | 9.1% | ||
| Q3 24 | 16.6% | — | ||
| Q2 24 | 26.4% | -4.2% | ||
| Q1 24 | 79.7% | -77.3% |
资本支出强度ADEAAPLS
| Q4 25 | 0.3% | 0.1% | ||
| Q3 25 | 0.9% | 0.0% | ||
| Q2 25 | 0.2% | 0.0% | ||
| Q1 25 | 0.3% | 0.0% | ||
| Q4 24 | 0.5% | 0.0% | ||
| Q3 24 | 0.1% | 0.0% | ||
| Q2 24 | 0.5% | 0.0% | ||
| Q1 24 | 1.0% | 0.2% |
现金转化率ADEAAPLS
| Q4 25 | 0.81× | — | ||
| Q3 25 | 2.02× | 0.50× | ||
| Q2 25 | 1.38× | — | ||
| Q1 25 | 4.84× | — | ||
| Q4 24 | 2.98× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 2.80× | — | ||
| Q1 24 | 74.78× | — |
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
ADEA
| Media Platform | $172.9M | 95% |
| Semiconductor | $9.7M | 5% |
APLS
| Syfovre | $155.2M | 78% |
| Empaveli Pegcetacoplan | $35.1M | 18% |
| Licensing And Other Revenue | $9.6M | 5% |
