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Apellis Pharmaceuticals, Inc.（APLS）与奔特力系统（BSY）财务数据对比。点击上方公司名可切换其他公司
奔特力系统的季度营收约是Apellis Pharmaceuticals, Inc.的2.0倍（$391.6M vs $199.9M），奔特力系统净利率更高（15.0% vs -29.5%，领先44.5%），奔特力系统同比增速更快（11.9% vs -5.9%），奔特力系统自由现金流更多（$136.2M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% 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。
奔特力系统是总部位于美国的软件开发企业，面向全球基础设施的设计、建造及运营全周期，提供软件产品授权、销售及相关技术支持服务。旗下产品覆盖建筑、工厂、土木、地理空间等领域，广泛应用于建筑工程施工及运营场景，支撑各类大型建成资产的全生命周期管理。
APLS vs BSY — 直观对比
营收规模更大
BSY
是对方的2.0倍
$199.9M
营收增速更快
BSY
高出17.9%
-5.9%
净利率更高
BSY
高出44.5%
-29.5%
自由现金流更多
BSY
多$150.5M
$-14.3M
两年增速更快
APLS
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $391.6M |
| 净利润 | $-59.0M | $58.6M |
| 毛利率 | — | 81.9% |
| 营业利润率 | -25.6% | 20.0% |
| 净利率 | -29.5% | 15.0% |
| 营收同比 | -5.9% | 11.9% |
| 净利润同比 | -62.2% | 17.1% |
| 每股收益（稀释后） | $-0.40 | $0.17 |
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APLSBSY
| Q4 25 | $199.9M | $391.6M | ||
| Q3 25 | $458.6M | $375.5M | ||
| Q2 25 | $178.5M | $364.1M | ||
| Q1 25 | $166.8M | $370.5M | ||
| Q4 24 | $212.5M | $349.8M | ||
| Q3 24 | $196.8M | $335.2M | ||
| Q2 24 | $199.7M | $330.3M | ||
| Q1 24 | $172.3M | $337.8M |
净利润APLSBSY
| Q4 25 | $-59.0M | $58.6M | ||
| Q3 25 | $215.7M | $57.4M | ||
| Q2 25 | $-42.2M | $70.5M | ||
| Q1 25 | $-92.2M | $91.4M | ||
| Q4 24 | $-36.4M | $50.1M | ||
| Q3 24 | $-57.4M | $42.3M | ||
| Q2 24 | $-37.7M | $72.0M | ||
| Q1 24 | $-66.4M | $70.3M |
毛利率APLSBSY
| Q4 25 | — | 81.9% | ||
| Q3 25 | — | 80.8% | ||
| Q2 25 | — | 81.1% | ||
| Q1 25 | — | 82.3% | ||
| Q4 24 | — | 80.6% | ||
| Q3 24 | — | 80.7% | ||
| Q2 24 | — | 80.9% | ||
| Q1 24 | — | 81.7% |
营业利润率APLSBSY
| Q4 25 | -25.6% | 20.0% | ||
| Q3 25 | 48.7% | 22.5% | ||
| Q2 25 | -18.6% | 23.2% | ||
| Q1 25 | -50.0% | 31.1% | ||
| Q4 24 | -12.3% | 17.6% | ||
| Q3 24 | -24.0% | 20.5% | ||
| Q2 24 | -14.7% | 24.3% | ||
| Q1 24 | -36.0% | 27.2% |
净利率APLSBSY
| Q4 25 | -29.5% | 15.0% | ||
| Q3 25 | 47.0% | 15.3% | ||
| Q2 25 | -23.6% | 19.4% | ||
| Q1 25 | -55.3% | 24.7% | ||
| Q4 24 | -17.1% | 14.3% | ||
| Q3 24 | -29.2% | 12.6% | ||
| Q2 24 | -18.9% | 21.8% | ||
| Q1 24 | -38.5% | 20.8% |
每股收益（稀释后）APLSBSY
| Q4 25 | $-0.40 | $0.17 | ||
| Q3 25 | $1.67 | $0.18 | ||
| Q2 25 | $-0.33 | $0.22 | ||
| Q1 25 | $-0.74 | $0.28 | ||
| Q4 24 | $-0.30 | $0.15 | ||
| Q3 24 | $-0.46 | $0.13 | ||
| Q2 24 | $-0.30 | $0.22 | ||
| Q1 24 | $-0.54 | $0.22 |
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 | $123.3M |
| 总债务越低越好 | — | $1.2B |
| 股东权益账面价值 | $370.1M | $1.2B |
| 总资产 | $1.1B | $3.6B |
| 负债/权益比越低杠杆越低 | — | 1.05× |
8季度趋势，按日历期对齐
现金及短期投资APLSBSY
| Q4 25 | $466.2M | $123.3M | ||
| Q3 25 | $479.2M | $165.4M | ||
| Q2 25 | $370.0M | $89.6M | ||
| Q1 25 | $358.4M | $83.6M | ||
| Q4 24 | $411.3M | $64.0M | ||
| Q3 24 | $396.9M | $72.2M | ||
| Q2 24 | $360.1M | $51.3M | ||
| Q1 24 | $325.9M | $141.6M |
总债务APLSBSY
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | $93.1M | $1.4B |
股东权益APLSBSY
| Q4 25 | $370.1M | $1.2B | ||
| Q3 25 | $401.2M | $1.2B | ||
| Q2 25 | $156.3M | $1.2B | ||
| Q1 25 | $164.2M | $1.1B | ||
| Q4 24 | $228.5M | $1.0B | ||
| Q3 24 | $237.1M | $1.0B | ||
| Q2 24 | $264.3M | $984.5M | ||
| Q1 24 | $266.7M | $932.6M |
总资产APLSBSY
| Q4 25 | $1.1B | $3.6B | ||
| Q3 25 | $1.1B | $3.5B | ||
| Q2 25 | $821.4M | $3.4B | ||
| Q1 25 | $807.3M | $3.4B | ||
| Q4 24 | $885.1M | $3.4B | ||
| Q3 24 | $901.9M | $3.4B | ||
| Q2 24 | $904.5M | $3.3B | ||
| Q1 24 | $831.9M | $3.4B |
负债/权益比APLSBSY
| Q4 25 | — | 1.05× | ||
| Q3 25 | — | 1.04× | ||
| Q2 25 | — | 1.07× | ||
| Q1 25 | — | 1.13× | ||
| Q4 24 | — | 1.33× | ||
| Q3 24 | — | 1.37× | ||
| Q2 24 | — | 1.36× | ||
| Q1 24 | 0.35× | 1.54× |
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 | $141.6M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $136.2M |
| 自由现金流率自由现金流/营收 | -7.1% | 34.8% |
| 资本支出强度资本支出/营收 | 0.1% | 1.4% |
| 现金转化率经营现金流/净利润 | — | 2.41× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $520.2M |
8季度趋势，按日历期对齐
经营现金流APLSBSY
| Q4 25 | $-14.2M | $141.6M | ||
| Q3 25 | $108.5M | $116.4M | ||
| Q2 25 | $4.4M | $61.1M | ||
| Q1 25 | $-53.4M | $219.4M | ||
| Q4 24 | $19.4M | $81.6M | ||
| Q3 24 | $34.1M | $86.1M | ||
| Q2 24 | $-8.3M | $62.6M | ||
| Q1 24 | $-133.0M | $205.0M |
自由现金流APLSBSY
| Q4 25 | $-14.3M | $136.2M | ||
| Q3 25 | $108.3M | $110.7M | ||
| Q2 25 | $4.4M | $57.0M | ||
| Q1 25 | $-53.4M | $216.4M | ||
| Q4 24 | $19.3M | $76.1M | ||
| Q3 24 | — | $84.3M | ||
| Q2 24 | $-8.4M | $59.5M | ||
| Q1 24 | $-133.3M | $201.4M |
自由现金流率APLSBSY
| Q4 25 | -7.1% | 34.8% | ||
| Q3 25 | 23.6% | 29.5% | ||
| Q2 25 | 2.5% | 15.7% | ||
| Q1 25 | -32.0% | 58.4% | ||
| Q4 24 | 9.1% | 21.7% | ||
| Q3 24 | — | 25.1% | ||
| Q2 24 | -4.2% | 18.0% | ||
| Q1 24 | -77.3% | 59.6% |
资本支出强度APLSBSY
| Q4 25 | 0.1% | 1.4% | ||
| Q3 25 | 0.0% | 1.5% | ||
| Q2 25 | 0.0% | 1.1% | ||
| Q1 25 | 0.0% | 0.8% | ||
| Q4 24 | 0.0% | 1.6% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.9% | ||
| Q1 24 | 0.2% | 1.1% |
现金转化率APLSBSY
| Q4 25 | — | 2.41× | ||
| Q3 25 | 0.50× | 2.03× | ||
| Q2 25 | — | 0.87× | ||
| Q1 25 | — | 2.40× | ||
| Q4 24 | — | 1.63× | ||
| Q3 24 | — | 2.03× | ||
| Q2 24 | — | 0.87× | ||
| Q1 24 | — | 2.92× |
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% |
BSY
| Enterprise License Subscriptions | $163.4M | 42% |
| Term License Subscriptions | $122.7M | 31% |
| SELECT Subscriptions | $70.6M | 18% |
| Professional Services Other | $17.2M | 4% |
| Perpetual Licenses | $14.3M | 4% |
| Professional Services Recurring | $3.5M | 1% |
