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Apellis Pharmaceuticals, Inc.（APLS）与BALCHEM CORP（BCPC）财务数据对比。点击上方公司名可切换其他公司
BALCHEM CORP的季度营收约是Apellis Pharmaceuticals, Inc.的1.4倍（$270.7M vs $199.9M），BALCHEM CORP净利率更高（14.9% vs -29.5%，领先44.4%），BALCHEM CORP同比增速更快（8.1% vs -5.9%），BALCHEM CORP自由现金流更多（$33.8M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 7.5%）
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。
Balchem Corp是一家全球特种化学品与营养原料供应商，核心业务覆盖人类营养、动物保健、制药、工业应用四大领域，为北美、欧洲、亚太等地区的客户提供定制化专用原料产品。
APLS vs BCPC — 直观对比
营收规模更大
BCPC
是对方的1.4倍
$199.9M
营收增速更快
BCPC
高出14.0%
-5.9%
净利率更高
BCPC
高出44.4%
-29.5%
自由现金流更多
BCPC
多$48.1M
$-14.3M
两年增速更快
APLS
近两年复合增速
7.5%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $270.7M |
| 净利润 | $-59.0M | $40.3M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 20.5% |
| 净利率 | -29.5% | 14.9% |
| 营收同比 | -5.9% | 8.1% |
| 净利润同比 | -62.2% | 8.7% |
| 每股收益（稀释后） | $-0.40 | $1.25 |
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APLSBCPC
| Q1 26 | — | $270.7M | ||
| Q4 25 | $199.9M | $263.6M | ||
| Q3 25 | $458.6M | $267.6M | ||
| Q2 25 | $178.5M | $255.5M | ||
| Q1 25 | $166.8M | $250.5M | ||
| Q4 24 | $212.5M | $240.0M | ||
| Q3 24 | $196.8M | $239.9M | ||
| Q2 24 | $199.7M | $234.1M |
净利润APLSBCPC
| Q1 26 | — | $40.3M | ||
| Q4 25 | $-59.0M | $39.2M | ||
| Q3 25 | $215.7M | $40.3M | ||
| Q2 25 | $-42.2M | $38.3M | ||
| Q1 25 | $-92.2M | $37.1M | ||
| Q4 24 | $-36.4M | $33.6M | ||
| Q3 24 | $-57.4M | $33.8M | ||
| Q2 24 | $-37.7M | $32.1M |
毛利率APLSBCPC
| Q1 26 | — | — | ||
| Q4 25 | — | 35.6% | ||
| Q3 25 | — | 35.7% | ||
| Q2 25 | — | 36.4% | ||
| Q1 25 | — | 35.2% | ||
| Q4 24 | — | 36.0% | ||
| Q3 24 | — | 35.6% | ||
| Q2 24 | — | 35.5% |
营业利润率APLSBCPC
| Q1 26 | — | 20.5% | ||
| Q4 25 | -25.6% | 19.8% | ||
| Q3 25 | 48.7% | 20.4% | ||
| Q2 25 | -18.6% | 20.1% | ||
| Q1 25 | -50.0% | 20.4% | ||
| Q4 24 | -12.3% | 19.8% | ||
| Q3 24 | -24.0% | 20.0% | ||
| Q2 24 | -14.7% | 19.6% |
净利率APLSBCPC
| Q1 26 | — | 14.9% | ||
| Q4 25 | -29.5% | 14.9% | ||
| Q3 25 | 47.0% | 15.1% | ||
| Q2 25 | -23.6% | 15.0% | ||
| Q1 25 | -55.3% | 14.8% | ||
| Q4 24 | -17.1% | 14.0% | ||
| Q3 24 | -29.2% | 14.1% | ||
| Q2 24 | -18.9% | 13.7% |
每股收益（稀释后）APLSBCPC
| Q1 26 | — | $1.25 | ||
| Q4 25 | $-0.40 | $1.21 | ||
| Q3 25 | $1.67 | $1.24 | ||
| Q2 25 | $-0.33 | $1.17 | ||
| Q1 25 | $-0.74 | $1.13 | ||
| Q4 24 | $-0.30 | $1.03 | ||
| Q3 24 | $-0.46 | $1.03 | ||
| Q2 24 | $-0.30 | $0.98 |
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 | $72.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.3B |
| 总资产 | $1.1B | $1.7B |
| 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APLSBCPC
| Q1 26 | — | $72.9M | ||
| Q4 25 | $466.2M | $74.6M | ||
| Q3 25 | $479.2M | $65.1M | ||
| Q2 25 | $370.0M | $65.4M | ||
| Q1 25 | $358.4M | $49.9M | ||
| Q4 24 | $411.3M | $49.5M | ||
| Q3 24 | $396.9M | $73.7M | ||
| Q2 24 | $360.1M | $63.7M |
股东权益APLSBCPC
| Q1 26 | — | $1.3B | ||
| Q4 25 | $370.1M | $1.3B | ||
| Q3 25 | $401.2M | $1.3B | ||
| Q2 25 | $156.3M | $1.3B | ||
| Q1 25 | $164.2M | $1.2B | ||
| Q4 24 | $228.5M | $1.1B | ||
| Q3 24 | $237.1M | $1.2B | ||
| Q2 24 | $264.3M | $1.1B |
总资产APLSBCPC
| Q1 26 | — | $1.7B | ||
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $821.4M | $1.7B | ||
| Q1 25 | $807.3M | $1.6B | ||
| Q4 24 | $885.1M | $1.6B | ||
| Q3 24 | $901.9M | $1.6B | ||
| Q2 24 | $904.5M | $1.6B |
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 | $40.1M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $33.8M |
| 自由现金流率自由现金流/营收 | -7.1% | 12.5% |
| 资本支出强度资本支出/营收 | 0.1% | 2.3% |
| 现金转化率经营现金流/净利润 | — | 0.99× |
| 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APLSBCPC
| Q1 26 | — | $40.1M | ||
| Q4 25 | $-14.2M | $67.3M | ||
| Q3 25 | $108.5M | $65.6M | ||
| Q2 25 | $4.4M | $47.3M | ||
| Q1 25 | $-53.4M | $36.5M | ||
| Q4 24 | $19.4M | $52.3M | ||
| Q3 24 | $34.1M | $51.3M | ||
| Q2 24 | $-8.3M | $45.0M |
自由现金流APLSBCPC
| Q1 26 | — | $33.8M | ||
| Q4 25 | $-14.3M | — | ||
| Q3 25 | $108.3M | — | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-8.4M | — |
自由现金流率APLSBCPC
| Q1 26 | — | 12.5% | ||
| Q4 25 | -7.1% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.2% | — |
资本支出强度APLSBCPC
| Q1 26 | — | 2.3% | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — |
现金转化率APLSBCPC
| Q1 26 | — | 0.99× | ||
| Q4 25 | — | 1.72× | ||
| Q3 25 | 0.50× | 1.63× | ||
| Q2 25 | — | 1.23× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 1.56× | ||
| Q3 24 | — | 1.52× | ||
| Q2 24 | — | 1.40× |
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% |
BCPC
暂无分部数据
