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Apellis Pharmaceuticals, Inc.（APLS）与APPFOLIO INC（APPF）财务数据对比。点击上方公司名可切换其他公司
APPFOLIO INC的季度营收约是Apellis Pharmaceuticals, Inc.的1.3倍（$262.2M vs $199.9M），APPFOLIO INC净利率更高（16.2% vs -29.5%，领先45.7%），APPFOLIO INC同比增速更快（20.4% vs -5.9%），过去两年APPFOLIO INC的营收复合增速更高（15.3% vs 7.7%）
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。
AppFolio Inc.是一家2006年成立的美国企业，专注服务房地产行业，为客户提供软件即服务（SaaS）类应用产品及相关配套服务，助力房地产相关经营主体优化管理流程、提升运营效率。
APLS vs APPF — 直观对比
营收规模更大
APPF
是对方的1.3倍
$199.9M
营收增速更快
APPF
高出26.4%
-5.9%
净利率更高
APPF
高出45.7%
-29.5%
两年增速更快
APPF
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $262.2M |
| 净利润 | $-59.0M | $42.4M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 19.4% |
| 净利率 | -29.5% | 16.2% |
| 营收同比 | -5.9% | 20.4% |
| 净利润同比 | -62.2% | 35.2% |
| 每股收益（稀释后） | $-0.40 | $1.18 |
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APLSAPPF
| Q1 26 | — | $262.2M | ||
| Q4 25 | $199.9M | $248.2M | ||
| Q3 25 | $458.6M | $249.4M | ||
| Q2 25 | $178.5M | $235.6M | ||
| Q1 25 | $166.8M | $217.7M | ||
| Q4 24 | $212.5M | $203.7M | ||
| Q3 24 | $196.8M | $205.7M | ||
| Q2 24 | $199.7M | $197.4M |
净利润APLSAPPF
| Q1 26 | — | $42.4M | ||
| Q4 25 | $-59.0M | $39.9M | ||
| Q3 25 | $215.7M | $33.6M | ||
| Q2 25 | $-42.2M | $36.0M | ||
| Q1 25 | $-92.2M | $31.4M | ||
| Q4 24 | $-36.4M | $102.7M | ||
| Q3 24 | $-57.4M | $33.0M | ||
| Q2 24 | $-37.7M | $29.7M |
营业利润率APLSAPPF
| Q1 26 | — | 19.4% | ||
| Q4 25 | -25.6% | 17.6% | ||
| Q3 25 | 48.7% | 14.1% | ||
| Q2 25 | -18.6% | 17.2% | ||
| Q1 25 | -50.0% | 15.5% | ||
| Q4 24 | -12.3% | 11.3% | ||
| Q3 24 | -24.0% | 20.7% | ||
| Q2 24 | -14.7% | 18.3% |
净利率APLSAPPF
| Q1 26 | — | 16.2% | ||
| Q4 25 | -29.5% | 16.1% | ||
| Q3 25 | 47.0% | 13.5% | ||
| Q2 25 | -23.6% | 15.3% | ||
| Q1 25 | -55.3% | 14.4% | ||
| Q4 24 | -17.1% | 50.4% | ||
| Q3 24 | -29.2% | 16.0% | ||
| Q2 24 | -18.9% | 15.0% |
每股收益（稀释后）APLSAPPF
| Q1 26 | — | $1.18 | ||
| Q4 25 | $-0.40 | $1.10 | ||
| Q3 25 | $1.67 | $0.93 | ||
| Q2 25 | $-0.33 | $0.99 | ||
| Q1 25 | $-0.74 | $0.86 | ||
| Q4 24 | $-0.30 | $2.79 | ||
| Q3 24 | $-0.46 | $0.90 | ||
| Q2 24 | $-0.30 | $0.81 |
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 | $466.2M | $147.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $470.2M |
| 总资产 | $1.1B | $580.6M |
| 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APLSAPPF
| Q1 26 | — | $147.4M | ||
| Q4 25 | $466.2M | $107.0M | ||
| Q3 25 | $479.2M | $76.1M | ||
| Q2 25 | $370.0M | $73.5M | ||
| Q1 25 | $358.4M | $56.9M | ||
| Q4 24 | $411.3M | $42.5M | ||
| Q3 24 | $396.9M | $62.4M | ||
| Q2 24 | $360.1M | $59.6M |
股东权益APLSAPPF
| Q1 26 | — | $470.2M | ||
| Q4 25 | $370.1M | $542.6M | ||
| Q3 25 | $401.2M | $498.9M | ||
| Q2 25 | $156.3M | $455.6M | ||
| Q1 25 | $164.2M | $462.1M | ||
| Q4 24 | $228.5M | $519.3M | ||
| Q3 24 | $237.1M | $412.8M | ||
| Q2 24 | $264.3M | $371.4M |
总资产APLSAPPF
| Q1 26 | — | $580.6M | ||
| Q4 25 | $1.1B | $689.0M | ||
| Q3 25 | $1.1B | $640.5M | ||
| Q2 25 | $821.4M | $567.4M | ||
| Q1 25 | $807.3M | $564.7M | ||
| Q4 24 | $885.1M | $626.7M | ||
| Q3 24 | $901.9M | $523.3M | ||
| Q2 24 | $904.5M | $479.3M |
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 | $34.3M |
| 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 | 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 | $45.0M | — |
8季度趋势，按日历期对齐
经营现金流APLSAPPF
| Q1 26 | — | $34.3M | ||
| Q4 25 | $-14.2M | $65.0M | ||
| Q3 25 | $108.5M | $86.0M | ||
| Q2 25 | $4.4M | $52.6M | ||
| Q1 25 | $-53.4M | $38.5M | ||
| Q4 24 | $19.4M | $36.6M | ||
| Q3 24 | $34.1M | $57.8M | ||
| Q2 24 | $-8.3M | $50.9M |
自由现金流APLSAPPF
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | $63.7M | ||
| Q3 25 | $108.3M | $84.7M | ||
| Q2 25 | $4.4M | $52.4M | ||
| Q1 25 | $-53.4M | $38.2M | ||
| Q4 24 | $19.3M | $36.4M | ||
| Q3 24 | — | $57.4M | ||
| Q2 24 | $-8.4M | $50.8M |
自由现金流率APLSAPPF
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | 25.7% | ||
| Q3 25 | 23.6% | 34.0% | ||
| Q2 25 | 2.5% | 22.2% | ||
| Q1 25 | -32.0% | 17.6% | ||
| Q4 24 | 9.1% | 17.9% | ||
| Q3 24 | — | 27.9% | ||
| Q2 24 | -4.2% | 25.8% |
资本支出强度APLSAPPF
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 0.5% | ||
| Q3 25 | 0.0% | 0.5% | ||
| Q2 25 | 0.0% | 0.1% | ||
| Q1 25 | 0.0% | 0.1% | ||
| Q4 24 | 0.0% | 0.1% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.0% |
现金转化率APLSAPPF
| Q1 26 | — | 0.81× | ||
| Q4 25 | — | 1.63× | ||
| Q3 25 | 0.50× | 2.56× | ||
| Q2 25 | — | 1.46× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 1.75× | ||
| Q2 24 | — | 1.71× |
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
APLS
| Syfovre | $155.2M | 78% |
| Empaveli Pegcetacoplan | $35.1M | 18% |
| Licensing And Other Revenue | $9.6M | 5% |
APPF
| Value Added Services | $164.7M | 63% |
| Subscription Services | $58.2M | 22% |
| Other | $39.3M | 15% |
