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Apellis Pharmaceuticals, Inc.（APLS）与CubeSmart（CUBE）财务数据对比。点击上方公司名可切换其他公司
CubeSmart的季度营收约是Apellis Pharmaceuticals, Inc.的1.4倍（$281.9M vs $199.9M），CubeSmart净利率更高（29.4% vs -29.5%，领先58.8%），CubeSmart同比增速更快（3.3% vs -5.9%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 2.9%）
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。
CubeSmart是一家专注于投资自助仓储设施的美国房地产投资信托，为美国第三大自助仓储运营商。截至2024年12月31日，公司在全美25个州及哥伦比亚特区共持有631座自助仓储物业，可出租总面积达4580万平方英尺。
APLS vs CUBE — 直观对比
营收规模更大
CUBE
是对方的1.4倍
$199.9M
营收增速更快
CUBE
高出9.2%
-5.9%
净利率更高
CUBE
高出58.8%
-29.5%
两年增速更快
APLS
近两年复合增速
2.9%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $281.9M |
| 净利润 | $-59.0M | $82.8M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 40.2% |
| 净利率 | -29.5% | 29.4% |
| 营收同比 | -5.9% | 3.3% |
| 净利润同比 | -62.2% | -6.8% |
| 每股收益（稀释后） | $-0.40 | $0.36 |
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APLSCUBE
| Q1 26 | — | $281.9M | ||
| Q4 25 | $199.9M | $282.7M | ||
| Q3 25 | $458.6M | $285.1M | ||
| Q2 25 | $178.5M | $282.3M | ||
| Q1 25 | $166.8M | $273.0M | ||
| Q4 24 | $212.5M | $267.7M | ||
| Q3 24 | $196.8M | $270.9M | ||
| Q2 24 | $199.7M | $266.2M |
净利润APLSCUBE
| Q1 26 | — | $82.8M | ||
| Q4 25 | $-59.0M | $77.7M | ||
| Q3 25 | $215.7M | $82.4M | ||
| Q2 25 | $-42.2M | $82.4M | ||
| Q1 25 | $-92.2M | $88.7M | ||
| Q4 24 | $-36.4M | $101.9M | ||
| Q3 24 | $-57.4M | $101.0M | ||
| Q2 24 | $-37.7M | $94.2M |
毛利率APLSCUBE
| Q1 26 | — | — | ||
| Q4 25 | — | 68.7% | ||
| Q3 25 | — | 68.1% | ||
| Q2 25 | — | 68.5% | ||
| Q1 25 | — | 69.6% | ||
| Q4 24 | — | 71.7% | ||
| Q3 24 | — | 69.8% | ||
| Q2 24 | — | 68.8% |
营业利润率APLSCUBE
| Q1 26 | — | 40.2% | ||
| 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% | — |
净利率APLSCUBE
| Q1 26 | — | 29.4% | ||
| Q4 25 | -29.5% | 27.5% | ||
| Q3 25 | 47.0% | 28.9% | ||
| Q2 25 | -23.6% | 29.2% | ||
| Q1 25 | -55.3% | 32.5% | ||
| Q4 24 | -17.1% | 38.1% | ||
| Q3 24 | -29.2% | 37.3% | ||
| Q2 24 | -18.9% | 35.4% |
每股收益（稀释后）APLSCUBE
| Q1 26 | — | $0.36 | ||
| Q4 25 | $-0.40 | $0.35 | ||
| Q3 25 | $1.67 | $0.36 | ||
| Q2 25 | $-0.33 | $0.36 | ||
| Q1 25 | $-0.74 | $0.39 | ||
| Q4 24 | $-0.30 | $0.45 | ||
| Q3 24 | $-0.46 | $0.44 | ||
| Q2 24 | $-0.30 | $0.41 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $2.7B |
| 总资产 | $1.1B | $6.6B |
| 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APLSCUBE
| Q1 26 | — | — | ||
| Q4 25 | $466.2M | $5.8M | ||
| Q3 25 | $479.2M | $108.4M | ||
| Q2 25 | $370.0M | $8.7M | ||
| Q1 25 | $358.4M | $10.8M | ||
| Q4 24 | $411.3M | $71.6M | ||
| Q3 24 | $396.9M | $43.5M | ||
| Q2 24 | $360.1M | $5.7M |
股东权益APLSCUBE
| Q1 26 | — | $2.7B | ||
| Q4 25 | $370.1M | $2.7B | ||
| Q3 25 | $401.2M | $2.8B | ||
| Q2 25 | $156.3M | $2.8B | ||
| Q1 25 | $164.2M | $2.8B | ||
| Q4 24 | $228.5M | $2.9B | ||
| Q3 24 | $237.1M | $2.8B | ||
| Q2 24 | $264.3M | $2.8B |
总资产APLSCUBE
| Q1 26 | — | $6.6B | ||
| Q4 25 | $1.1B | $6.6B | ||
| Q3 25 | $1.1B | $6.8B | ||
| Q2 25 | $821.4M | $6.7B | ||
| Q1 25 | $807.3M | $6.7B | ||
| Q4 24 | $885.1M | $6.4B | ||
| Q3 24 | $901.9M | $6.2B | ||
| Q2 24 | $904.5M | $6.2B |
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 | — |
| 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 | — | — |
| 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APLSCUBE
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $608.5M | ||
| Q3 25 | $108.5M | $168.2M | ||
| Q2 25 | $4.4M | $157.5M | ||
| Q1 25 | $-53.4M | $146.3M | ||
| Q4 24 | $19.4M | $631.1M | ||
| Q3 24 | $34.1M | $145.4M | ||
| Q2 24 | $-8.3M | $170.9M |
自由现金流APLSCUBE
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | — | ||
| Q3 25 | $108.3M | — | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-8.4M | — |
自由现金流率APLSCUBE
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.2% | — |
资本支出强度APLSCUBE
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — |
现金转化率APLSCUBE
| Q1 26 | — | — | ||
| Q4 25 | — | 7.83× | ||
| Q3 25 | 0.50× | 2.04× | ||
| Q2 25 | — | 1.91× | ||
| Q1 25 | — | 1.65× | ||
| Q4 24 | — | 6.19× | ||
| Q3 24 | — | 1.44× | ||
| Q2 24 | — | 1.81× |
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% |
CUBE
| Rental income | $239.9M | 85% |
| Other | $32.1M | 11% |
| Property management fee income | $9.9M | 4% |
