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Apellis Pharmaceuticals, Inc.（APLS）与Brixmor Property Group Inc.（BRX）财务数据对比。点击上方公司名可切换其他公司
Brixmor Property Group Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.8倍（$354.8M vs $199.9M），Brixmor Property Group Inc.净利率更高（36.0% vs -29.5%，领先65.5%），Brixmor Property Group Inc.同比增速更快（5.1% vs -5.9%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 6.0%）
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。
Brixmor Property Group是一家公开上市的房地产投资信托（REIT），核心业务为投资购物中心类商业地产，专注于挖掘零售不动产的商业价值，在为股东创造稳定投资回报的同时，也为入驻商户的运营发展提供物业配套支持。
APLS vs BRX — 直观对比
营收规模更大
BRX
是对方的1.8倍
$199.9M
营收增速更快
BRX
高出11.1%
-5.9%
净利率更高
BRX
高出65.5%
-29.5%
两年增速更快
APLS
近两年复合增速
6.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $354.8M |
| 净利润 | $-59.0M | $127.8M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 37.8% |
| 净利率 | -29.5% | 36.0% |
| 营收同比 | -5.9% | 5.1% |
| 净利润同比 | -62.2% | 83.2% |
| 每股收益（稀释后） | $-0.40 | $0.41 |
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APLSBRX
| Q1 26 | — | $354.8M | ||
| Q4 25 | $199.9M | $353.8M | ||
| Q3 25 | $458.6M | $340.8M | ||
| Q2 25 | $178.5M | $339.5M | ||
| Q1 25 | $166.8M | $337.5M | ||
| Q4 24 | $212.5M | $328.4M | ||
| Q3 24 | $196.8M | $320.7M | ||
| Q2 24 | $199.7M | $315.7M |
净利润APLSBRX
| Q1 26 | — | $127.8M | ||
| Q4 25 | $-59.0M | $137.1M | ||
| Q3 25 | $215.7M | $94.2M | ||
| Q2 25 | $-42.2M | $85.1M | ||
| Q1 25 | $-92.2M | $69.7M | ||
| Q4 24 | $-36.4M | $83.4M | ||
| Q3 24 | $-57.4M | $96.8M | ||
| Q2 24 | $-37.7M | $70.1M |
营业利润率APLSBRX
| Q1 26 | — | 37.8% | ||
| Q4 25 | -25.6% | — | ||
| Q3 25 | 48.7% | — | ||
| Q2 25 | -18.6% | — | ||
| Q1 25 | -50.0% | — | ||
| Q4 24 | -12.3% | — | ||
| Q3 24 | -24.0% | — | ||
| Q2 24 | -14.7% | — |
净利率APLSBRX
| Q1 26 | — | 36.0% | ||
| Q4 25 | -29.5% | 38.8% | ||
| Q3 25 | 47.0% | 27.6% | ||
| Q2 25 | -23.6% | 25.1% | ||
| Q1 25 | -55.3% | 20.7% | ||
| Q4 24 | -17.1% | 25.4% | ||
| Q3 24 | -29.2% | 30.2% | ||
| Q2 24 | -18.9% | 22.2% |
每股收益（稀释后）APLSBRX
| Q1 26 | — | $0.41 | ||
| Q4 25 | $-0.40 | $0.43 | ||
| Q3 25 | $1.67 | $0.31 | ||
| Q2 25 | $-0.33 | $0.28 | ||
| Q1 25 | $-0.74 | $0.23 | ||
| Q4 24 | $-0.30 | $0.27 | ||
| Q3 24 | $-0.46 | $0.32 | ||
| Q2 24 | $-0.30 | $0.23 |
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 | $323.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $3.0B |
| 总资产 | $1.1B | $9.1B |
| 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APLSBRX
| Q1 26 | — | $323.9M | ||
| Q4 25 | $466.2M | $334.4M | ||
| Q3 25 | $479.2M | $331.5M | ||
| Q2 25 | $370.0M | $105.0M | ||
| Q1 25 | $358.4M | $106.5M | ||
| Q4 24 | $411.3M | $377.6M | ||
| Q3 24 | $396.9M | $451.3M | ||
| Q2 24 | $360.1M | $473.6M |
总债务APLSBRX
| Q1 26 | — | — | ||
| Q4 25 | — | $5.5B | ||
| Q3 25 | — | $5.5B | ||
| Q2 25 | — | $5.1B | ||
| Q1 25 | — | $5.1B | ||
| Q4 24 | — | $5.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APLSBRX
| Q1 26 | — | $3.0B | ||
| Q4 25 | $370.1M | $3.0B | ||
| Q3 25 | $401.2M | $3.0B | ||
| Q2 25 | $156.3M | $3.0B | ||
| Q1 25 | $164.2M | $3.0B | ||
| Q4 24 | $228.5M | $3.0B | ||
| Q3 24 | $237.1M | $2.9B | ||
| Q2 24 | $264.3M | $2.9B |
总资产APLSBRX
| Q1 26 | — | $9.1B | ||
| Q4 25 | $1.1B | $9.1B | ||
| Q3 25 | $1.1B | $9.0B | ||
| Q2 25 | $821.4M | $8.6B | ||
| Q1 25 | $807.3M | $8.6B | ||
| Q4 24 | $885.1M | $8.9B | ||
| Q3 24 | $901.9M | $8.7B | ||
| Q2 24 | $904.5M | $8.7B |
负债/权益比APLSBRX
| Q1 26 | — | — | ||
| Q4 25 | — | 1.83× | ||
| Q3 25 | — | 1.85× | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 1.79× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| 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% | 3.4% |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流APLSBRX
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $652.0M | ||
| Q3 25 | $108.5M | $168.3M | ||
| Q2 25 | $4.4M | $181.5M | ||
| Q1 25 | $-53.4M | $130.1M | ||
| Q4 24 | $19.4M | $624.7M | ||
| Q3 24 | $34.1M | $157.5M | ||
| Q2 24 | $-8.3M | $183.5M |
自由现金流APLSBRX
| Q1 26 | — | — | ||
| 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APLSBRX
| Q1 26 | — | — | ||
| 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APLSBRX
| Q1 26 | — | 3.4% | ||
| 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APLSBRX
| Q1 26 | — | — | ||
| Q4 25 | — | 4.75× | ||
| Q3 25 | 0.50× | 1.79× | ||
| Q2 25 | — | 2.13× | ||
| Q1 25 | — | 1.87× | ||
| Q4 24 | — | 7.49× | ||
| Q3 24 | — | 1.63× | ||
| Q2 24 | — | 2.62× |
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% |
BRX
| Rental income | $354.3M | 100% |
| Other revenues | $482.0K | 0% |
