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Apellis Pharmaceuticals, Inc.（APLS）与Asana, Inc.（ASAN）财务数据对比。点击上方公司名可切换其他公司
Asana, Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.0倍（$201.0M vs $199.9M），Apellis Pharmaceuticals, Inc.净利率更高（-29.5% vs -34.0%，领先4.6%），Asana, Inc.同比增速更快（9.3% vs -5.9%），Asana, Inc.自由现金流更多（$15.5M vs $-14.3M），过去两年Asana, Inc.的营收复合增速更高（8.4% 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。
Asana是一家总部位于美国旧金山的软件企业，由达斯汀·莫斯科维茨和贾斯汀·罗森斯坦于2008年创立，核心产品是同名工作管理平台，支持网页端与移动端使用，可帮助团队梳理、跟踪及统筹各类工作事项，2012年4月正式商业化推出，2020年9月直接上市，当时估值达55亿美元。
APLS vs ASAN — 直观对比
营收规模更大
ASAN
是对方的1.0倍
$199.9M
营收增速更快
ASAN
高出15.3%
-5.9%
净利率更高
APLS
高出4.6%
-34.0%
自由现金流更多
ASAN
多$29.8M
$-14.3M
两年增速更快
ASAN
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $201.0M |
| 净利润 | $-59.0M | $-68.4M |
| 毛利率 | — | 88.9% |
| 营业利润率 | -25.6% | -34.8% |
| 净利率 | -29.5% | -34.0% |
| 营收同比 | -5.9% | 9.3% |
| 净利润同比 | -62.2% | -19.4% |
| 每股收益（稀释后） | $-0.40 | $-0.29 |
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APLSASAN
| Q4 25 | $199.9M | $201.0M | ||
| Q3 25 | $458.6M | $196.9M | ||
| Q2 25 | $178.5M | $187.3M | ||
| Q1 25 | $166.8M | $188.3M | ||
| Q4 24 | $212.5M | $183.9M | ||
| Q3 24 | $196.8M | $179.2M | ||
| Q2 24 | $199.7M | $172.4M | ||
| Q1 24 | $172.3M | $171.1M |
净利润APLSASAN
| Q4 25 | $-59.0M | $-68.4M | ||
| Q3 25 | $215.7M | $-48.4M | ||
| Q2 25 | $-42.2M | $-40.0M | ||
| Q1 25 | $-92.2M | $-62.3M | ||
| Q4 24 | $-36.4M | $-57.3M | ||
| Q3 24 | $-57.4M | $-72.2M | ||
| Q2 24 | $-37.7M | $-63.7M | ||
| Q1 24 | $-66.4M | $-62.4M |
毛利率APLSASAN
| Q4 25 | — | 88.9% | ||
| Q3 25 | — | 89.7% | ||
| Q2 25 | — | 89.7% | ||
| Q1 25 | — | 89.6% | ||
| Q4 24 | — | 89.2% | ||
| Q3 24 | — | 88.8% | ||
| Q2 24 | — | 89.7% | ||
| Q1 24 | — | 89.8% |
营业利润率APLSASAN
| Q4 25 | -25.6% | -34.8% | ||
| Q3 25 | 48.7% | -25.1% | ||
| Q2 25 | -18.6% | -23.4% | ||
| Q1 25 | -50.0% | -33.8% | ||
| Q4 24 | -12.3% | -32.7% | ||
| Q3 24 | -24.0% | -42.9% | ||
| Q2 24 | -14.7% | -38.4% | ||
| Q1 24 | -36.0% | -39.7% |
净利率APLSASAN
| Q4 25 | -29.5% | -34.0% | ||
| Q3 25 | 47.0% | -24.6% | ||
| Q2 25 | -23.6% | -21.4% | ||
| Q1 25 | -55.3% | -33.1% | ||
| Q4 24 | -17.1% | -31.2% | ||
| Q3 24 | -29.2% | -40.3% | ||
| Q2 24 | -18.9% | -37.0% | ||
| Q1 24 | -38.5% | -36.5% |
每股收益（稀释后）APLSASAN
| Q4 25 | $-0.40 | $-0.29 | ||
| Q3 25 | $1.67 | $-0.20 | ||
| Q2 25 | $-0.33 | $-0.17 | ||
| Q1 25 | $-0.74 | $-0.27 | ||
| Q4 24 | $-0.30 | $-0.25 | ||
| Q3 24 | $-0.46 | $-0.31 | ||
| Q2 24 | $-0.30 | $-0.28 | ||
| Q1 24 | $-0.54 | $-0.28 |
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 | $183.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $188.4M |
| 总资产 | $1.1B | $840.4M |
| 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APLSASAN
| Q4 25 | $466.2M | $183.5M | ||
| Q3 25 | $479.2M | $184.1M | ||
| Q2 25 | $370.0M | $193.8M | ||
| Q1 25 | $358.4M | $184.7M | ||
| Q4 24 | $411.3M | $196.8M | ||
| Q3 24 | $396.9M | $219.4M | ||
| Q2 24 | $360.1M | $222.0M | ||
| Q1 24 | $325.9M | $236.7M |
总债务APLSASAN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSASAN
| Q4 25 | $370.1M | $188.4M | ||
| Q3 25 | $401.2M | $224.6M | ||
| Q2 25 | $156.3M | $236.3M | ||
| Q1 25 | $164.2M | $227.5M | ||
| Q4 24 | $228.5M | $239.3M | ||
| Q3 24 | $237.1M | $291.9M | ||
| Q2 24 | $264.3M | $319.9M | ||
| Q1 24 | $266.7M | $326.4M |
总资产APLSASAN
| Q4 25 | $1.1B | $840.4M | ||
| Q3 25 | $1.1B | $883.2M | ||
| Q2 25 | $821.4M | $877.1M | ||
| Q1 25 | $807.3M | $891.4M | ||
| Q4 24 | $885.1M | $874.2M | ||
| Q3 24 | $901.9M | $945.4M | ||
| Q2 24 | $904.5M | $978.2M | ||
| Q1 24 | $831.9M | $962.0M |
负债/权益比APLSASAN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 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 | $-14.2M | $16.2M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $15.5M |
| 自由现金流率自由现金流/营收 | -7.1% | 7.7% |
| 资本支出强度资本支出/营收 | 0.1% | 0.3% |
| 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 | $74.5M |
8季度趋势，按日历期对齐
经营现金流APLSASAN
| Q4 25 | $-14.2M | $16.2M | ||
| Q3 25 | $108.5M | $39.8M | ||
| Q2 25 | $4.4M | $6.8M | ||
| Q1 25 | $-53.4M | $15.9M | ||
| Q4 24 | $19.4M | $-14.9M | ||
| Q3 24 | $34.1M | $15.9M | ||
| Q2 24 | $-8.3M | $-1.9M | ||
| Q1 24 | $-133.0M | $-15.3M |
自由现金流APLSASAN
| Q4 25 | $-14.3M | $15.5M | ||
| Q3 25 | $108.3M | $38.5M | ||
| Q2 25 | $4.4M | $6.1M | ||
| Q1 25 | $-53.4M | $14.3M | ||
| Q4 24 | $19.3M | $-16.3M | ||
| Q3 24 | — | $14.2M | ||
| Q2 24 | $-8.4M | $-2.9M | ||
| Q1 24 | $-133.3M | $-15.8M |
自由现金流率APLSASAN
| Q4 25 | -7.1% | 7.7% | ||
| Q3 25 | 23.6% | 19.6% | ||
| Q2 25 | 2.5% | 3.3% | ||
| Q1 25 | -32.0% | 7.6% | ||
| Q4 24 | 9.1% | -8.8% | ||
| Q3 24 | — | 7.9% | ||
| Q2 24 | -4.2% | -1.7% | ||
| Q1 24 | -77.3% | -9.3% |
资本支出强度APLSASAN
| Q4 25 | 0.1% | 0.3% | ||
| Q3 25 | 0.0% | 0.7% | ||
| Q2 25 | 0.0% | 0.3% | ||
| Q1 25 | 0.0% | 0.8% | ||
| Q4 24 | 0.0% | 0.7% | ||
| Q3 24 | 0.0% | 0.9% | ||
| Q2 24 | 0.0% | 0.6% | ||
| Q1 24 | 0.2% | 0.3% |
现金转化率APLSASAN
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
ASAN
| US | $118.5M | 59% |
| Non Us | $82.5M | 41% |
