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Apellis Pharmaceuticals, Inc.（APLS）与CBL & ASSOCIATES PROPERTIES INC（CBL）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是CBL & ASSOCIATES PROPERTIES INC的1.3倍（$199.9M vs $156.4M），CBL & ASSOCIATES PROPERTIES INC净利率更高（31.3% vs -29.5%，领先60.8%），CBL & ASSOCIATES PROPERTIES INC同比增速更快（18.8% vs -5.9%），过去两年CBL & ASSOCIATES PROPERTIES INC的营收复合增速更高（10.1% 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。
CBL联合地产是一家美国房地产投资信托企业，核心投资布局为购物中心与商业摩尔，业务主要集中在美国东南部与中西部地区。公司在特拉华州注册，总部设于田纳西州查塔努加，该城市也是其最大的布局市场，公司名称取自创始人查尔斯·B·勒博维茨的姓名首字母。
APLS vs CBL — 直观对比
营收规模更大
APLS
是对方的1.3倍
$156.4M
营收增速更快
CBL
高出24.7%
-5.9%
净利率更高
CBL
高出60.8%
-29.5%
两年增速更快
CBL
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $156.4M |
| 净利润 | $-59.0M | $49.0M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | — |
| 净利率 | -29.5% | 31.3% |
| 营收同比 | -5.9% | 18.8% |
| 净利润同比 | -62.2% | 29.0% |
| 每股收益（稀释后） | $-0.40 | $1.61 |
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APLSCBL
| Q4 25 | $199.9M | $156.4M | ||
| Q3 25 | $458.6M | $139.3M | ||
| Q2 25 | $178.5M | $140.9M | ||
| Q1 25 | $166.8M | $141.8M | ||
| Q4 24 | $212.5M | $131.7M | ||
| Q3 24 | $196.8M | $125.1M | ||
| Q2 24 | $199.7M | $129.7M | ||
| Q1 24 | $172.3M | $129.1M |
净利润APLSCBL
| Q4 25 | $-59.0M | $49.0M | ||
| Q3 25 | $215.7M | $75.4M | ||
| Q2 25 | $-42.2M | $2.8M | ||
| Q1 25 | $-92.2M | $8.8M | ||
| Q4 24 | $-36.4M | $38.0M | ||
| Q3 24 | $-57.4M | $16.2M | ||
| Q2 24 | $-37.7M | $4.7M | ||
| Q1 24 | $-66.4M | $50.0K |
营业利润率APLSCBL
| 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% | — | ||
| Q1 24 | -36.0% | — |
净利率APLSCBL
| Q4 25 | -29.5% | 31.3% | ||
| Q3 25 | 47.0% | 54.2% | ||
| Q2 25 | -23.6% | 2.0% | ||
| Q1 25 | -55.3% | 6.2% | ||
| Q4 24 | -17.1% | 28.8% | ||
| Q3 24 | -29.2% | 12.9% | ||
| Q2 24 | -18.9% | 3.7% | ||
| Q1 24 | -38.5% | 0.0% |
每股收益（稀释后）APLSCBL
| Q4 25 | $-0.40 | $1.61 | ||
| Q3 25 | $1.67 | $2.38 | ||
| Q2 25 | $-0.33 | $0.08 | ||
| Q1 25 | $-0.74 | $0.27 | ||
| Q4 24 | $-0.30 | $1.22 | ||
| Q3 24 | $-0.46 | $0.52 | ||
| Q2 24 | $-0.30 | $0.14 | ||
| Q1 24 | $-0.54 | $-0.01 |
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 | $42.3M |
| 总债务越低越好 | — | $2.2B |
| 股东权益账面价值 | $370.1M | $374.9M |
| 总资产 | $1.1B | $2.7B |
| 负债/权益比越低杠杆越低 | — | 5.79× |
8季度趋势，按日历期对齐
现金及短期投资APLSCBL
| Q4 25 | $466.2M | $42.3M | ||
| Q3 25 | $479.2M | $52.6M | ||
| Q2 25 | $370.0M | $100.3M | ||
| Q1 25 | $358.4M | $100.3M | ||
| Q4 24 | $411.3M | $40.8M | ||
| Q3 24 | $396.9M | $65.1M | ||
| Q2 24 | $360.1M | $57.7M | ||
| Q1 24 | $325.9M | $57.7M |
总债务APLSCBL
| Q4 25 | — | $2.2B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.1B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $2.2B | ||
| Q3 24 | — | $1.8B | ||
| Q2 24 | — | $1.9B | ||
| Q1 24 | $93.1M | $1.9B |
股东权益APLSCBL
| Q4 25 | $370.1M | $374.9M | ||
| Q3 25 | $401.2M | $351.4M | ||
| Q2 25 | $156.3M | $289.4M | ||
| Q1 25 | $164.2M | $295.0M | ||
| Q4 24 | $228.5M | $323.5M | ||
| Q3 24 | $237.1M | $308.3M | ||
| Q2 24 | $264.3M | $308.8M | ||
| Q1 24 | $266.7M | $324.2M |
总资产APLSCBL
| Q4 25 | $1.1B | $2.7B | ||
| Q3 25 | $1.1B | $2.7B | ||
| Q2 25 | $821.4M | $2.6B | ||
| Q1 25 | $807.3M | $2.6B | ||
| Q4 24 | $885.1M | $2.7B | ||
| Q3 24 | $901.9M | $2.2B | ||
| Q2 24 | $904.5M | $2.3B | ||
| Q1 24 | $831.9M | $2.3B |
负债/权益比APLSCBL
| Q4 25 | — | 5.79× | ||
| Q3 25 | — | 6.21× | ||
| Q2 25 | — | 7.39× | ||
| Q1 25 | — | 7.29× | ||
| Q4 24 | — | 6.84× | ||
| Q3 24 | — | 5.76× | ||
| Q2 24 | — | 6.00× | ||
| Q1 24 | 0.35× | 5.74× |
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 | $249.7M |
| 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 | — | 5.10× |
| 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APLSCBL
| Q4 25 | $-14.2M | $249.7M | ||
| Q3 25 | $108.5M | $69.6M | ||
| Q2 25 | $4.4M | $68.3M | ||
| Q1 25 | $-53.4M | $31.7M | ||
| Q4 24 | $19.4M | $202.2M | ||
| Q3 24 | $34.1M | $61.1M | ||
| Q2 24 | $-8.3M | $64.2M | ||
| Q1 24 | $-133.0M | $30.7M |
自由现金流APLSCBL
| Q4 25 | $-14.3M | — | ||
| Q3 25 | $108.3M | — | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | — | $46.0M | ||
| Q2 24 | $-8.4M | $54.8M | ||
| Q1 24 | $-133.3M | $24.7M |
自由现金流率APLSCBL
| Q4 25 | -7.1% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | — | 36.8% | ||
| Q2 24 | -4.2% | 42.2% | ||
| Q1 24 | -77.3% | 19.1% |
资本支出强度APLSCBL
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | 12.1% | ||
| Q2 24 | 0.0% | 7.3% | ||
| Q1 24 | 0.2% | 4.7% |
现金转化率APLSCBL
| Q4 25 | — | 5.10× | ||
| Q3 25 | 0.50× | 0.92× | ||
| Q2 25 | — | 24.74× | ||
| Q1 25 | — | 3.60× | ||
| Q4 24 | — | 5.32× | ||
| Q3 24 | — | 3.77× | ||
| Q2 24 | — | 13.54× | ||
| Q1 24 | — | 614.76× |
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% |
CBL
暂无分部数据
