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Apellis Pharmaceuticals, Inc.（APLS）与CARRIAGE SERVICES INC（CSV）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CARRIAGE SERVICES INC的1.9倍（$199.9M vs $105.5M），CARRIAGE SERVICES INC净利率更高（11.6% vs -29.5%，领先41.1%），CARRIAGE SERVICES INC同比增速更快（8.0% vs -5.9%），CARRIAGE SERVICES INC自由现金流更多（$6.2M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 1.0%）
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。
怡和Cycle & Carriage有限公司是怡和集团在东南亚的投资控股公司，目前该集团持有其75%的股份，是怡和集团在东南亚区域开展资本布局与投资业务的核心平台。
APLS vs CSV — 直观对比
营收规模更大
APLS
是对方的1.9倍
$105.5M
营收增速更快
CSV
高出13.9%
-5.9%
净利率更高
CSV
高出41.1%
-29.5%
自由现金流更多
CSV
多$20.5M
$-14.3M
两年增速更快
APLS
近两年复合增速
1.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $105.5M |
| 净利润 | $-59.0M | $12.3M |
| 毛利率 | — | 34.8% |
| 营业利润率 | -25.6% | 23.3% |
| 净利率 | -29.5% | 11.6% |
| 营收同比 | -5.9% | 8.0% |
| 净利润同比 | -62.2% | 24.5% |
| 每股收益（稀释后） | $-0.40 | $0.76 |
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APLSCSV
| Q4 25 | $199.9M | $105.5M | ||
| Q3 25 | $458.6M | $102.7M | ||
| Q2 25 | $178.5M | $102.1M | ||
| Q1 25 | $166.8M | $107.1M | ||
| Q4 24 | $212.5M | $97.7M | ||
| Q3 24 | $196.8M | $100.7M | ||
| Q2 24 | $199.7M | $102.3M | ||
| Q1 24 | $172.3M | $103.5M |
净利润APLSCSV
| Q4 25 | $-59.0M | $12.3M | ||
| Q3 25 | $215.7M | $6.6M | ||
| Q2 25 | $-42.2M | $11.7M | ||
| Q1 25 | $-92.2M | $20.9M | ||
| Q4 24 | $-36.4M | $9.9M | ||
| Q3 24 | $-57.4M | $9.9M | ||
| Q2 24 | $-37.7M | $6.3M | ||
| Q1 24 | $-66.4M | $7.0M |
毛利率APLSCSV
| Q4 25 | — | 34.8% | ||
| Q3 25 | — | 35.3% | ||
| Q2 25 | — | 35.2% | ||
| Q1 25 | — | 35.3% | ||
| Q4 24 | — | 34.4% | ||
| Q3 24 | — | 35.2% | ||
| Q2 24 | — | 36.2% | ||
| Q1 24 | — | 36.0% |
营业利润率APLSCSV
| Q4 25 | -25.6% | 23.3% | ||
| Q3 25 | 48.7% | 17.0% | ||
| Q2 25 | -18.6% | 23.5% | ||
| Q1 25 | -50.0% | 29.5% | ||
| Q4 24 | -12.3% | 21.6% | ||
| Q3 24 | -24.0% | 22.7% | ||
| Q2 24 | -14.7% | 18.0% | ||
| Q1 24 | -36.0% | 18.8% |
净利率APLSCSV
| Q4 25 | -29.5% | 11.6% | ||
| Q3 25 | 47.0% | 6.4% | ||
| Q2 25 | -23.6% | 11.5% | ||
| Q1 25 | -55.3% | 19.5% | ||
| Q4 24 | -17.1% | 10.1% | ||
| Q3 24 | -29.2% | 9.8% | ||
| Q2 24 | -18.9% | 6.1% | ||
| Q1 24 | -38.5% | 6.7% |
每股收益（稀释后）APLSCSV
| Q4 25 | $-0.40 | $0.76 | ||
| Q3 25 | $1.67 | $0.41 | ||
| Q2 25 | $-0.33 | $0.74 | ||
| Q1 25 | $-0.74 | $1.34 | ||
| Q4 24 | $-0.30 | $0.62 | ||
| Q3 24 | $-0.46 | $0.63 | ||
| Q2 24 | $-0.30 | $0.40 | ||
| Q1 24 | $-0.54 | $0.45 |
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 | $1.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $254.8M |
| 总资产 | $1.1B | $1.3B |
| 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APLSCSV
| Q4 25 | $466.2M | $1.7M | ||
| Q3 25 | $479.2M | $1.2M | ||
| Q2 25 | $370.0M | $1.4M | ||
| Q1 25 | $358.4M | $4.6M | ||
| Q4 24 | $411.3M | $1.2M | ||
| Q3 24 | $396.9M | $1.3M | ||
| Q2 24 | $360.1M | $1.5M | ||
| Q1 24 | $325.9M | $1.7M |
总债务APLSCSV
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSCSV
| Q4 25 | $370.1M | $254.8M | ||
| Q3 25 | $401.2M | $242.1M | ||
| Q2 25 | $156.3M | $235.4M | ||
| Q1 25 | $164.2M | $223.1M | ||
| Q4 24 | $228.5M | $208.6M | ||
| Q3 24 | $237.1M | $198.1M | ||
| Q2 24 | $264.3M | $187.9M | ||
| Q1 24 | $266.7M | $179.6M |
总资产APLSCSV
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $821.4M | $1.3B | ||
| Q1 25 | $807.3M | $1.3B | ||
| Q4 24 | $885.1M | $1.3B | ||
| Q3 24 | $901.9M | $1.3B | ||
| Q2 24 | $904.5M | $1.3B | ||
| Q1 24 | $831.9M | $1.3B |
负债/权益比APLSCSV
| 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 | $14.1M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $6.2M |
| 自由现金流率自由现金流/营收 | -7.1% | 5.9% |
| 资本支出强度资本支出/营收 | 0.1% | 7.5% |
| 现金转化率经营现金流/净利润 | — | 1.15× |
| 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APLSCSV
| Q4 25 | $-14.2M | $14.1M | ||
| Q3 25 | $108.5M | $24.7M | ||
| Q2 25 | $4.4M | $8.1M | ||
| Q1 25 | $-53.4M | $13.8M | ||
| Q4 24 | $19.4M | $9.3M | ||
| Q3 24 | $34.1M | $20.9M | ||
| Q2 24 | $-8.3M | $2.2M | ||
| Q1 24 | $-133.0M | $19.7M |
自由现金流APLSCSV
| Q4 25 | $-14.3M | $6.2M | ||
| Q3 25 | $108.3M | $18.0M | ||
| Q2 25 | $4.4M | $5.2M | ||
| Q1 25 | $-53.4M | $10.6M | ||
| Q4 24 | $19.3M | $4.9M | ||
| Q3 24 | — | $16.2M | ||
| Q2 24 | $-8.4M | $-1.4M | ||
| Q1 24 | $-133.3M | $16.2M |
自由现金流率APLSCSV
| Q4 25 | -7.1% | 5.9% | ||
| Q3 25 | 23.6% | 17.5% | ||
| Q2 25 | 2.5% | 5.1% | ||
| Q1 25 | -32.0% | 9.9% | ||
| Q4 24 | 9.1% | 5.0% | ||
| Q3 24 | — | 16.1% | ||
| Q2 24 | -4.2% | -1.4% | ||
| Q1 24 | -77.3% | 15.6% |
资本支出强度APLSCSV
| Q4 25 | 0.1% | 7.5% | ||
| Q3 25 | 0.0% | 6.5% | ||
| Q2 25 | 0.0% | 2.8% | ||
| Q1 25 | 0.0% | 3.0% | ||
| Q4 24 | 0.0% | 4.5% | ||
| Q3 24 | 0.0% | 4.6% | ||
| Q2 24 | 0.0% | 3.5% | ||
| Q1 24 | 0.2% | 3.4% |
现金转化率APLSCSV
| Q4 25 | — | 1.15× | ||
| Q3 25 | 0.50× | 3.76× | ||
| Q2 25 | — | 0.69× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.94× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 2.83× |
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% |
CSV
| Propertyand Merchandise | $47.8M | 45% |
| Cemetery Interment Rights | $24.8M | 23% |
| Merchandise | $18.9M | 18% |
| Other Revenue | $10.2M | 10% |
| Other | $3.9M | 4% |
