vs
Apellis Pharmaceuticals, Inc.（APLS）与COMMVAULT SYSTEMS INC（CVLT）财务数据对比。点击上方公司名可切换其他公司
COMMVAULT SYSTEMS INC的季度营收约是Apellis Pharmaceuticals, Inc.的1.6倍（$311.7M vs $199.9M），COMMVAULT SYSTEMS INC净利率更高（4.7% vs -29.5%，领先34.2%），COMMVAULT SYSTEMS INC同比增速更快（13.3% vs -5.9%），COMMVAULT SYSTEMS INC自由现金流更多（$131.8M vs $-14.3M），过去两年COMMVAULT SYSTEMS INC的营收复合增速更高（17.8% 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。
Commvault Systems Inc.是美国上市的网络安全与数据保护软件企业，核心业务覆盖数据安全、云服务及基础设施管理领域，旗下方案广泛应用于各类企业的数据资产防护与IT架构运维场景，助力客户降低数据风险、提升云环境运营效率。
APLS vs CVLT — 直观对比
营收规模更大
CVLT
是对方的1.6倍
$199.9M
营收增速更快
CVLT
高出19.3%
-5.9%
净利率更高
CVLT
高出34.2%
-29.5%
自由现金流更多
CVLT
多$146.1M
$-14.3M
两年增速更快
CVLT
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $311.7M |
| 净利润 | $-59.0M | $14.6M |
| 毛利率 | — | 81.4% |
| 营业利润率 | -25.6% | 5.3% |
| 净利率 | -29.5% | 4.7% |
| 营收同比 | -5.9% | 13.3% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $0.34 |
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APLSCVLT
| Q1 26 | — | $311.7M | ||
| Q4 25 | $199.9M | $313.8M | ||
| Q3 25 | $458.6M | $276.2M | ||
| Q2 25 | $178.5M | $282.0M | ||
| Q1 25 | $166.8M | $275.0M | ||
| Q4 24 | $212.5M | $262.6M | ||
| Q3 24 | $196.8M | $233.3M | ||
| Q2 24 | $199.7M | $224.7M |
净利润APLSCVLT
| Q1 26 | — | $14.6M | ||
| Q4 25 | $-59.0M | $17.8M | ||
| Q3 25 | $215.7M | $14.7M | ||
| Q2 25 | $-42.2M | $23.5M | ||
| Q1 25 | $-92.2M | $31.0M | ||
| Q4 24 | $-36.4M | $11.0M | ||
| Q3 24 | $-57.4M | $15.6M | ||
| Q2 24 | $-37.7M | $18.5M |
毛利率APLSCVLT
| Q1 26 | — | 81.4% | ||
| Q4 25 | — | 81.1% | ||
| Q3 25 | — | 80.1% | ||
| Q2 25 | — | 82.0% | ||
| Q1 25 | — | 82.6% | ||
| Q4 24 | — | 81.5% | ||
| Q3 24 | — | 81.6% | ||
| Q2 24 | — | 82.3% |
营业利润率APLSCVLT
| Q1 26 | — | 5.3% | ||
| Q4 25 | -25.6% | 6.3% | ||
| Q3 25 | 48.7% | 4.5% | ||
| Q2 25 | -18.6% | 8.9% | ||
| Q1 25 | -50.0% | 9.7% | ||
| Q4 24 | -12.3% | 5.2% | ||
| Q3 24 | -24.0% | 6.4% | ||
| Q2 24 | -14.7% | 8.2% |
净利率APLSCVLT
| Q1 26 | — | 4.7% | ||
| Q4 25 | -29.5% | 5.7% | ||
| Q3 25 | 47.0% | 5.3% | ||
| Q2 25 | -23.6% | 8.3% | ||
| Q1 25 | -55.3% | 11.3% | ||
| Q4 24 | -17.1% | 4.2% | ||
| Q3 24 | -29.2% | 6.7% | ||
| Q2 24 | -18.9% | 8.2% |
每股收益（稀释后）APLSCVLT
| Q1 26 | — | $0.34 | ||
| Q4 25 | $-0.40 | $0.40 | ||
| Q3 25 | $1.67 | $0.33 | ||
| Q2 25 | $-0.33 | $0.52 | ||
| Q1 25 | $-0.74 | $0.68 | ||
| Q4 24 | $-0.30 | $0.24 | ||
| Q3 24 | $-0.46 | $0.35 | ||
| 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 | $900.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $7.5M |
| 总资产 | $1.1B | $1.9B |
| 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APLSCVLT
| Q1 26 | — | $900.0M | ||
| Q4 25 | $466.2M | $1.0B | ||
| Q3 25 | $479.2M | $1.1B | ||
| Q2 25 | $370.0M | $363.2M | ||
| Q1 25 | $358.4M | $302.1M | ||
| Q4 24 | $411.3M | $243.6M | ||
| Q3 24 | $396.9M | $303.1M | ||
| Q2 24 | $360.1M | $287.9M |
股东权益APLSCVLT
| Q1 26 | — | $7.5M | ||
| Q4 25 | $370.1M | $216.7M | ||
| Q3 25 | $401.2M | $210.5M | ||
| Q2 25 | $156.3M | $364.7M | ||
| Q1 25 | $164.2M | $325.1M | ||
| Q4 24 | $228.5M | $287.8M | ||
| Q3 24 | $237.1M | $277.8M | ||
| Q2 24 | $264.3M | $281.8M |
总资产APLSCVLT
| Q1 26 | — | $1.9B | ||
| Q4 25 | $1.1B | $2.0B | ||
| Q3 25 | $1.1B | $1.9B | ||
| Q2 25 | $821.4M | $1.2B | ||
| Q1 25 | $807.3M | $1.1B | ||
| Q4 24 | $885.1M | $1.0B | ||
| Q3 24 | $901.9M | $958.5M | ||
| Q2 24 | $904.5M | $934.9M |
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 | $132.2M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $131.8M |
| 自由现金流率自由现金流/营收 | -7.1% | 42.3% |
| 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 | — | 9.02× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $237.2M |
8季度趋势，按日历期对齐
经营现金流APLSCVLT
| Q1 26 | — | $132.2M | ||
| Q4 25 | $-14.2M | $4.0M | ||
| Q3 25 | $108.5M | $76.8M | ||
| Q2 25 | $4.4M | $31.7M | ||
| Q1 25 | $-53.4M | $77.0M | ||
| Q4 24 | $19.4M | $30.1M | ||
| Q3 24 | $34.1M | $55.6M | ||
| Q2 24 | $-8.3M | $44.7M |
自由现金流APLSCVLT
| Q1 26 | — | $131.8M | ||
| Q4 25 | $-14.3M | $1.9M | ||
| Q3 25 | $108.3M | $73.6M | ||
| Q2 25 | $4.4M | $29.8M | ||
| Q1 25 | $-53.4M | $76.2M | ||
| Q4 24 | $19.3M | $29.9M | ||
| Q3 24 | — | $53.7M | ||
| Q2 24 | $-8.4M | $43.8M |
自由现金流率APLSCVLT
| Q1 26 | — | 42.3% | ||
| Q4 25 | -7.1% | 0.6% | ||
| Q3 25 | 23.6% | 26.6% | ||
| Q2 25 | 2.5% | 10.6% | ||
| Q1 25 | -32.0% | 27.7% | ||
| Q4 24 | 9.1% | 11.4% | ||
| Q3 24 | — | 23.0% | ||
| Q2 24 | -4.2% | 19.5% |
资本支出强度APLSCVLT
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 0.7% | ||
| Q3 25 | 0.0% | 1.2% | ||
| Q2 25 | 0.0% | 0.7% | ||
| Q1 25 | 0.0% | 0.3% | ||
| Q4 24 | 0.0% | 0.1% | ||
| Q3 24 | 0.0% | 0.8% | ||
| Q2 24 | 0.0% | 0.4% |
现金转化率APLSCVLT
| Q1 26 | — | 9.02× | ||
| Q4 25 | — | 0.23× | ||
| Q3 25 | 0.50× | 5.21× | ||
| Q2 25 | — | 1.35× | ||
| Q1 25 | — | 2.48× | ||
| Q4 24 | — | 2.74× | ||
| Q3 24 | — | 3.57× | ||
| Q2 24 | — | 2.41× |
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% |
CVLT
| Term-based license | $114.4M | 37% |
| Software-as-a-service | $93.1M | 30% |
| Customer support | $80.9M | 26% |
| Other | $13.1M | 4% |
| Perpetual license | $10.1M | 3% |
