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Apellis Pharmaceuticals, Inc.（APLS）与CSW INDUSTRIALS, INC.（CSW）财务数据对比。点击上方公司名可切换其他公司
CSW INDUSTRIALS, INC.的季度营收约是Apellis Pharmaceuticals, Inc.的1.2倍（$233.0M vs $199.9M），CSW INDUSTRIALS, INC.净利率更高（4.4% vs -29.5%，领先33.9%），CSW INDUSTRIALS, INC.同比增速更快（20.3% vs -5.9%），CSW INDUSTRIALS, INC.自由现金流更多（$22.7M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 5.1%）
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。
APLS vs CSW — 直观对比
营收规模更大
CSW
是对方的1.2倍
$199.9M
营收增速更快
CSW
高出26.3%
-5.9%
净利率更高
CSW
高出33.9%
-29.5%
自由现金流更多
CSW
多$37.0M
$-14.3M
两年增速更快
APLS
近两年复合增速
5.1%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $233.0M |
| 净利润 | $-59.0M | $10.3M |
| 毛利率 | — | 39.7% |
| 营业利润率 | -25.6% | 7.4% |
| 净利率 | -29.5% | 4.4% |
| 营收同比 | -5.9% | 20.3% |
| 净利润同比 | -62.2% | -61.9% |
| 每股收益（稀释后） | $-0.40 | $0.62 |
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APLSCSW
| Q4 25 | $199.9M | $233.0M | ||
| Q3 25 | $458.6M | $277.0M | ||
| Q2 25 | $178.5M | $263.6M | ||
| Q1 25 | $166.8M | $230.5M | ||
| Q4 24 | $212.5M | $193.6M | ||
| Q3 24 | $196.8M | $227.9M | ||
| Q2 24 | $199.7M | $226.2M | ||
| Q1 24 | $172.3M | $210.9M |
净利润APLSCSW
| Q4 25 | $-59.0M | $10.3M | ||
| Q3 25 | $215.7M | $40.7M | ||
| Q2 25 | $-42.2M | $40.9M | ||
| Q1 25 | $-92.2M | $35.1M | ||
| Q4 24 | $-36.4M | $26.9M | ||
| Q3 24 | $-57.4M | $36.1M | ||
| Q2 24 | $-37.7M | $38.6M | ||
| Q1 24 | $-66.4M | $31.8M |
毛利率APLSCSW
| Q4 25 | — | 39.7% | ||
| Q3 25 | — | 43.0% | ||
| Q2 25 | — | 43.8% | ||
| Q1 25 | — | 44.2% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | — | 47.5% | ||
| Q1 24 | — | 44.4% |
营业利润率APLSCSW
| Q4 25 | -25.6% | 7.4% | ||
| Q3 25 | 48.7% | 20.5% | ||
| Q2 25 | -18.6% | 20.8% | ||
| Q1 25 | -50.0% | 19.5% | ||
| Q4 24 | -12.3% | 15.3% | ||
| Q3 24 | -24.0% | 22.6% | ||
| Q2 24 | -14.7% | 24.3% | ||
| Q1 24 | -36.0% | 21.0% |
净利率APLSCSW
| Q4 25 | -29.5% | 4.4% | ||
| Q3 25 | 47.0% | 14.7% | ||
| Q2 25 | -23.6% | 15.5% | ||
| Q1 25 | -55.3% | 15.2% | ||
| Q4 24 | -17.1% | 13.9% | ||
| Q3 24 | -29.2% | 15.8% | ||
| Q2 24 | -18.9% | 17.1% | ||
| Q1 24 | -38.5% | 15.1% |
每股收益（稀释后）APLSCSW
| Q4 25 | $-0.40 | $0.62 | ||
| Q3 25 | $1.67 | $2.41 | ||
| Q2 25 | $-0.33 | $2.43 | ||
| Q1 25 | $-0.74 | $2.05 | ||
| Q4 24 | $-0.30 | $1.60 | ||
| Q3 24 | $-0.46 | $2.26 | ||
| Q2 24 | $-0.30 | $2.47 | ||
| Q1 24 | $-0.54 | $2.03 |
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 | $40.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.1B |
| 总资产 | $1.1B | $2.3B |
| 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APLSCSW
| Q4 25 | $466.2M | $40.2M | ||
| Q3 25 | $479.2M | $31.5M | ||
| Q2 25 | $370.0M | $38.0M | ||
| Q1 25 | $358.4M | $225.8M | ||
| Q4 24 | $411.3M | $213.8M | ||
| Q3 24 | $396.9M | $273.2M | ||
| Q2 24 | $360.1M | $18.9M | ||
| Q1 24 | $325.9M | $22.2M |
总债务APLSCSW
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $800.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | $166.0M |
股东权益APLSCSW
| Q4 25 | $370.1M | $1.1B | ||
| Q3 25 | $401.2M | $1.1B | ||
| Q2 25 | $156.3M | $1.1B | ||
| Q1 25 | $164.2M | $1.1B | ||
| Q4 24 | $228.5M | $1.0B | ||
| Q3 24 | $237.1M | $1.0B | ||
| Q2 24 | $264.3M | $650.2M | ||
| Q1 24 | $266.7M | $615.7M |
总资产APLSCSW
| Q4 25 | $1.1B | $2.3B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $821.4M | $1.5B | ||
| Q1 25 | $807.3M | $1.4B | ||
| Q4 24 | $885.1M | $1.4B | ||
| Q3 24 | $901.9M | $1.4B | ||
| Q2 24 | $904.5M | $1.1B | ||
| Q1 24 | $831.9M | $1.0B |
负债/权益比APLSCSW
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.35× | 0.27× |
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 | $28.9M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $22.7M |
| 自由现金流率自由现金流/营收 | -7.1% | 9.8% |
| 资本支出强度资本支出/营收 | 0.1% | 2.6% |
| 现金转化率经营现金流/净利润 | — | 2.81× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $162.0M |
8季度趋势，按日历期对齐
经营现金流APLSCSW
| Q4 25 | $-14.2M | $28.9M | ||
| Q3 25 | $108.5M | $61.8M | ||
| Q2 25 | $4.4M | $60.6M | ||
| Q1 25 | $-53.4M | $27.3M | ||
| Q4 24 | $19.4M | $11.6M | ||
| Q3 24 | $34.1M | $66.8M | ||
| Q2 24 | $-8.3M | $62.7M | ||
| Q1 24 | $-133.0M | $22.4M |
自由现金流APLSCSW
| Q4 25 | $-14.3M | $22.7M | ||
| Q3 25 | $108.3M | $58.7M | ||
| Q2 25 | $4.4M | $57.7M | ||
| Q1 25 | $-53.4M | $22.8M | ||
| Q4 24 | $19.3M | $8.5M | ||
| Q3 24 | — | $61.3M | ||
| Q2 24 | $-8.4M | $59.6M | ||
| Q1 24 | $-133.3M | $17.5M |
自由现金流率APLSCSW
| Q4 25 | -7.1% | 9.8% | ||
| Q3 25 | 23.6% | 21.2% | ||
| Q2 25 | 2.5% | 21.9% | ||
| Q1 25 | -32.0% | 9.9% | ||
| Q4 24 | 9.1% | 4.4% | ||
| Q3 24 | — | 26.9% | ||
| Q2 24 | -4.2% | 26.3% | ||
| Q1 24 | -77.3% | 8.3% |
资本支出强度APLSCSW
| Q4 25 | 0.1% | 2.6% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.0% | 1.1% | ||
| Q1 25 | 0.0% | 2.0% | ||
| Q4 24 | 0.0% | 1.6% | ||
| Q3 24 | 0.0% | 2.4% | ||
| Q2 24 | 0.0% | 1.4% | ||
| Q1 24 | 0.2% | 2.3% |
现金转化率APLSCSW
| Q4 25 | — | 2.81× | ||
| Q3 25 | 0.50× | 1.52× | ||
| Q2 25 | — | 1.48× | ||
| Q1 25 | — | 0.78× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 1.85× | ||
| Q2 24 | — | 1.62× | ||
| Q1 24 | — | 0.71× |
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% |
CSW
| Contractor Solutions Segment | $166.3M | 71% |
| Specialized Reliability Solutions Segment | $38.2M | 16% |
| Engineered Building Solutions Segment | $28.5M | 12% |
