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Apellis Pharmaceuticals, Inc.（APLS）与AZZ INC（AZZ）财务数据对比。点击上方公司名可切换其他公司
AZZ INC的季度营收约是Apellis Pharmaceuticals, Inc.的1.9倍（$385.1M vs $199.9M），AZZ INC净利率更高（4.1% vs -29.5%，领先33.6%），AZZ INC同比增速更快（9.4% vs -5.9%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -3.5%）
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。
AZZ公司是全球领先的金属防护解决方案供应商，主营热浸镀锌、表面涂层处理服务及特种电气、工业零部件，主要服务于北美及其他核心国际市场的建筑、能源、基建、制造等下游领域。
APLS vs AZZ — 直观对比
营收规模更大
AZZ
是对方的1.9倍
$199.9M
营收增速更快
AZZ
高出15.4%
-5.9%
净利率更高
AZZ
高出33.6%
-29.5%
两年增速更快
APLS
近两年复合增速
-3.5%
损益表 — Q4 FY2025 vs Q4 FY2027
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $385.1M |
| 净利润 | $-59.0M | $15.9M |
| 毛利率 | — | 22.7% |
| 营业利润率 | -25.6% | 14.8% |
| 净利率 | -29.5% | 4.1% |
| 营收同比 | -5.9% | 9.4% |
| 净利润同比 | -62.2% | 146.3% |
| 每股收益（稀释后） | $-0.40 | $0.53 |
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APLSAZZ
| Q4 26 | — | $385.1M | ||
| Q4 25 | $199.9M | $425.7M | ||
| Q3 25 | $458.6M | $417.3M | ||
| Q2 25 | $178.5M | $422.0M | ||
| Q1 25 | $166.8M | $351.9M | ||
| Q4 24 | $212.5M | $403.7M | ||
| Q3 24 | $196.8M | $409.0M | ||
| Q2 24 | $199.7M | $413.2M |
净利润APLSAZZ
| Q4 26 | — | $15.9M | ||
| Q4 25 | $-59.0M | $41.1M | ||
| Q3 25 | $215.7M | $89.3M | ||
| Q2 25 | $-42.2M | $170.9M | ||
| Q1 25 | $-92.2M | $20.2M | ||
| Q4 24 | $-36.4M | $33.6M | ||
| Q3 24 | $-57.4M | $35.4M | ||
| Q2 24 | $-37.7M | $39.6M |
毛利率APLSAZZ
| Q4 26 | — | 22.7% | ||
| Q4 25 | — | 23.9% | ||
| Q3 25 | — | 24.3% | ||
| Q2 25 | — | 24.7% | ||
| Q1 25 | — | 22.4% | ||
| Q4 24 | — | 24.2% | ||
| Q3 24 | — | 25.3% | ||
| Q2 24 | — | 24.8% |
营业利润率APLSAZZ
| Q4 26 | — | 14.8% | ||
| Q4 25 | -25.6% | 16.3% | ||
| Q3 25 | 48.7% | 16.4% | ||
| Q2 25 | -18.6% | 16.5% | ||
| Q1 25 | -50.0% | 11.5% | ||
| Q4 24 | -12.3% | 14.5% | ||
| Q3 24 | -24.0% | 16.5% | ||
| Q2 24 | -14.7% | 16.9% |
净利率APLSAZZ
| Q4 26 | — | 4.1% | ||
| Q4 25 | -29.5% | 9.6% | ||
| Q3 25 | 47.0% | 21.4% | ||
| Q2 25 | -23.6% | 40.5% | ||
| Q1 25 | -55.3% | 5.7% | ||
| Q4 24 | -17.1% | 8.3% | ||
| Q3 24 | -29.2% | 8.7% | ||
| Q2 24 | -18.9% | 9.6% |
每股收益（稀释后）APLSAZZ
| Q4 26 | — | $0.53 | ||
| Q4 25 | $-0.40 | $1.36 | ||
| Q3 25 | $1.67 | $2.95 | ||
| Q2 25 | $-0.33 | $5.66 | ||
| Q1 25 | $-0.74 | $0.87 | ||
| Q4 24 | $-0.30 | $1.12 | ||
| Q3 24 | $-0.46 | $1.18 | ||
| Q2 24 | $-0.30 | $-1.38 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.3B |
| 总资产 | $1.1B | $2.2B |
| 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APLSAZZ
| Q4 26 | — | — | ||
| Q4 25 | $466.2M | $623.0K | ||
| Q3 25 | $479.2M | $897.0K | ||
| Q2 25 | $370.0M | $3.0M | ||
| Q1 25 | $358.4M | $1.5M | ||
| Q4 24 | $411.3M | $1.5M | ||
| Q3 24 | $396.9M | $2.2M | ||
| Q2 24 | $360.1M | $10.5M |
股东权益APLSAZZ
| Q4 26 | — | $1.3B | ||
| Q4 25 | $370.1M | $1.3B | ||
| Q3 25 | $401.2M | $1.3B | ||
| Q2 25 | $156.3M | $1.2B | ||
| Q1 25 | $164.2M | $1.0B | ||
| Q4 24 | $228.5M | $1.0B | ||
| Q3 24 | $237.1M | $999.8M | ||
| Q2 24 | $264.3M | $967.2M |
总资产APLSAZZ
| Q4 26 | — | $2.2B | ||
| Q4 25 | $1.1B | $2.2B | ||
| Q3 25 | $1.1B | $2.2B | ||
| Q2 25 | $821.4M | $2.2B | ||
| Q1 25 | $807.3M | $2.2B | ||
| Q4 24 | $885.1M | $2.2B | ||
| Q3 24 | $901.9M | $2.2B | ||
| Q2 24 | $904.5M | $2.2B |
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 | $525.4M |
| 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 | — | 32.98× |
| 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APLSAZZ
| Q4 26 | — | $525.4M | ||
| Q4 25 | $-14.2M | $79.7M | ||
| Q3 25 | $108.5M | $58.4M | ||
| Q2 25 | $4.4M | $314.8M | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.4M | $66.2M | ||
| Q3 24 | $34.1M | $47.5M | ||
| Q2 24 | $-8.3M | $71.9M |
自由现金流APLSAZZ
| Q4 26 | — | — | ||
| Q4 25 | $-14.3M | $61.2M | ||
| Q3 25 | $108.3M | $39.1M | ||
| Q2 25 | $4.4M | $293.9M | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | $39.7M | ||
| Q3 24 | — | $15.4M | ||
| Q2 24 | $-8.4M | $44.5M |
自由现金流率APLSAZZ
| Q4 26 | — | — | ||
| Q4 25 | -7.1% | 14.4% | ||
| Q3 25 | 23.6% | 9.4% | ||
| Q2 25 | 2.5% | 69.6% | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | 9.8% | ||
| Q3 24 | — | 3.8% | ||
| Q2 24 | -4.2% | 10.8% |
资本支出强度APLSAZZ
| Q4 26 | — | — | ||
| Q4 25 | 0.1% | 4.4% | ||
| Q3 25 | 0.0% | 4.6% | ||
| Q2 25 | 0.0% | 5.0% | ||
| Q1 25 | 0.0% | 8.5% | ||
| Q4 24 | 0.0% | 6.6% | ||
| Q3 24 | 0.0% | 7.8% | ||
| Q2 24 | 0.0% | 6.6% |
现金转化率APLSAZZ
| Q4 26 | — | 32.98× | ||
| Q4 25 | — | 1.94× | ||
| Q3 25 | 0.50× | 0.65× | ||
| Q2 25 | — | 1.84× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.97× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | — | 1.82× |
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% |
AZZ
| Precoat Metals | $198.6M | 52% |
| Metal Coatings | $186.5M | 48% |
