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Apellis Pharmaceuticals, Inc.（APLS）与GE医疗（CCRN）财务数据对比。点击上方公司名可切换其他公司
GE医疗的季度营收约是Apellis Pharmaceuticals, Inc.的1.2倍（$236.8M vs $199.9M），Apellis Pharmaceuticals, Inc.净利率更高（-29.5% vs -35.0%，领先5.5%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -23.6%），GE医疗自由现金流更多（$16.1M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -21.0%）
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。
GE医疗是总部位于美国伊利诺伊州芝加哥的医疗科技企业，品牌标识为GE HealthCare。公司主要业务分为四大板块：包含分子影像、CT、磁共振、妇科筛查及X光设备的医学影像业务、超声业务，以及聚焦远程患者监测、麻醉呼吸护理、心脏诊断、婴幼儿护理的患者护理解决方案业务，此外还开展医药相关业务。
APLS vs CCRN — 直观对比
营收规模更大
CCRN
是对方的1.2倍
$199.9M
营收增速更快
APLS
高出17.7%
-23.6%
净利率更高
APLS
高出5.5%
-35.0%
自由现金流更多
CCRN
多$30.4M
$-14.3M
两年增速更快
APLS
近两年复合增速
-21.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $236.8M |
| 净利润 | $-59.0M | $-82.9M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | -30.2% |
| 净利率 | -29.5% | -35.0% |
| 营收同比 | -5.9% | -23.6% |
| 净利润同比 | -62.2% | -2109.7% |
| 每股收益（稀释后） | $-0.40 | $-2.56 |
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APLSCCRN
| Q4 25 | $199.9M | $236.8M | ||
| Q3 25 | $458.6M | $250.1M | ||
| Q2 25 | $178.5M | $274.1M | ||
| Q1 25 | $166.8M | $293.4M | ||
| Q4 24 | $212.5M | $309.9M | ||
| Q3 24 | $196.8M | $315.1M | ||
| Q2 24 | $199.7M | $339.8M | ||
| Q1 24 | $172.3M | $379.2M |
净利润APLSCCRN
| Q4 25 | $-59.0M | $-82.9M | ||
| Q3 25 | $215.7M | $-4.8M | ||
| Q2 25 | $-42.2M | $-6.7M | ||
| Q1 25 | $-92.2M | $-490.0K | ||
| Q4 24 | $-36.4M | $-3.8M | ||
| Q3 24 | $-57.4M | $2.6M | ||
| Q2 24 | $-37.7M | $-16.1M | ||
| Q1 24 | $-66.4M | $2.7M |
毛利率APLSCCRN
| Q4 25 | — | — | ||
| Q3 25 | — | 20.4% | ||
| Q2 25 | — | 20.4% | ||
| Q1 25 | — | 20.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 20.4% | ||
| Q2 24 | — | 20.8% | ||
| Q1 24 | — | 20.4% |
营业利润率APLSCCRN
| Q4 25 | -25.6% | -30.2% | ||
| Q3 25 | 48.7% | -2.4% | ||
| Q2 25 | -18.6% | -2.1% | ||
| Q1 25 | -50.0% | -0.3% | ||
| Q4 24 | -12.3% | -1.1% | ||
| Q3 24 | -24.0% | 0.9% | ||
| Q2 24 | -14.7% | -5.7% | ||
| Q1 24 | -36.0% | 0.8% |
净利率APLSCCRN
| Q4 25 | -29.5% | -35.0% | ||
| Q3 25 | 47.0% | -1.9% | ||
| Q2 25 | -23.6% | -2.4% | ||
| Q1 25 | -55.3% | -0.2% | ||
| Q4 24 | -17.1% | -1.2% | ||
| Q3 24 | -29.2% | 0.8% | ||
| Q2 24 | -18.9% | -4.7% | ||
| Q1 24 | -38.5% | 0.7% |
每股收益（稀释后）APLSCCRN
| Q4 25 | $-0.40 | $-2.56 | ||
| Q3 25 | $1.67 | $-0.15 | ||
| Q2 25 | $-0.33 | $-0.20 | ||
| Q1 25 | $-0.74 | $-0.02 | ||
| Q4 24 | $-0.30 | $-0.13 | ||
| Q3 24 | $-0.46 | $0.08 | ||
| Q2 24 | $-0.30 | $-0.47 | ||
| Q1 24 | $-0.54 | $0.08 |
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 | $108.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $322.8M |
| 总资产 | $1.1B | $449.0M |
| 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APLSCCRN
| Q4 25 | $466.2M | $108.7M | ||
| Q3 25 | $479.2M | $99.1M | ||
| Q2 25 | $370.0M | $81.2M | ||
| Q1 25 | $358.4M | $80.7M | ||
| Q4 24 | $411.3M | $81.6M | ||
| Q3 24 | $396.9M | $64.0M | ||
| Q2 24 | $360.1M | $69.6M | ||
| Q1 24 | $325.9M | $5.2M |
总债务APLSCCRN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSCCRN
| Q4 25 | $370.1M | $322.8M | ||
| Q3 25 | $401.2M | $408.1M | ||
| Q2 25 | $156.3M | $412.2M | ||
| Q1 25 | $164.2M | $418.2M | ||
| Q4 24 | $228.5M | $419.0M | ||
| Q3 24 | $237.1M | $424.7M | ||
| Q2 24 | $264.3M | $433.3M | ||
| Q1 24 | $266.7M | $462.4M |
总资产APLSCCRN
| Q4 25 | $1.1B | $449.0M | ||
| Q3 25 | $1.1B | $538.2M | ||
| Q2 25 | $821.4M | $553.8M | ||
| Q1 25 | $807.3M | $576.2M | ||
| Q4 24 | $885.1M | $589.3M | ||
| Q3 24 | $901.9M | $597.4M | ||
| Q2 24 | $904.5M | $602.9M | ||
| Q1 24 | $831.9M | $648.4M |
负债/权益比APLSCCRN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.35× | — |
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 | $18.2M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $16.1M |
| 自由现金流率自由现金流/营收 | -7.1% | 6.8% |
| 资本支出强度资本支出/营收 | 0.1% | 0.9% |
| 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 | $40.1M |
8季度趋势，按日历期对齐
经营现金流APLSCCRN
| Q4 25 | $-14.2M | $18.2M | ||
| Q3 25 | $108.5M | $20.1M | ||
| Q2 25 | $4.4M | $4.2M | ||
| Q1 25 | $-53.4M | $5.7M | ||
| Q4 24 | $19.4M | $24.2M | ||
| Q3 24 | $34.1M | $7.5M | ||
| Q2 24 | $-8.3M | $82.4M | ||
| Q1 24 | $-133.0M | $6.0M |
自由现金流APLSCCRN
| Q4 25 | $-14.3M | $16.1M | ||
| Q3 25 | $108.3M | $17.9M | ||
| Q2 25 | $4.4M | $2.3M | ||
| Q1 25 | $-53.4M | $3.8M | ||
| Q4 24 | $19.3M | $21.7M | ||
| Q3 24 | — | $6.3M | ||
| Q2 24 | $-8.4M | $79.6M | ||
| Q1 24 | $-133.3M | $3.8M |
自由现金流率APLSCCRN
| Q4 25 | -7.1% | 6.8% | ||
| Q3 25 | 23.6% | 7.2% | ||
| Q2 25 | 2.5% | 0.8% | ||
| Q1 25 | -32.0% | 1.3% | ||
| Q4 24 | 9.1% | 7.0% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | -4.2% | 23.4% | ||
| Q1 24 | -77.3% | 1.0% |
资本支出强度APLSCCRN
| Q4 25 | 0.1% | 0.9% | ||
| Q3 25 | 0.0% | 0.9% | ||
| Q2 25 | 0.0% | 0.7% | ||
| Q1 25 | 0.0% | 0.6% | ||
| Q4 24 | 0.0% | 0.8% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 0.0% | 0.8% | ||
| Q1 24 | 0.2% | 0.6% |
现金转化率APLSCCRN
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.92× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.23× |
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% |
CCRN
| Temporary Staffing Services | $189.6M | 80% |
| Physician Staffing | $42.5M | 18% |
| Other Services | $4.7M | 2% |
