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Apellis Pharmaceuticals, Inc.（APLS）与三维系统（DDD）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是三维系统的1.9倍（$199.9M vs $106.3M），三维系统净利率更高（-18.4% vs -29.5%，领先11.1%），三维系统同比增速更快（-4.3% vs -5.9%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-16.6M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 1.6%）
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。
3D Systems是一家总部位于美国南卡罗来纳州罗克希尔的企业，核心业务涵盖3D打印机、3D打印材料的研发生产与销售，同时提供3D打印零部件定制及应用工程服务，可产品概念模型、精密功能原型、工裝母模以及直接数字化生产零部件等产品，服务各行各业的数字化制造需求。
APLS vs DDD — 直观对比
营收规模更大
APLS
是对方的1.9倍
$106.3M
营收增速更快
DDD
高出1.7%
-5.9%
净利率更高
DDD
高出11.1%
-29.5%
自由现金流更多
APLS
多$2.4M
$-16.6M
两年增速更快
APLS
近两年复合增速
1.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $106.3M |
| 净利润 | $-59.0M | $-19.5M |
| 毛利率 | — | 30.8% |
| 营业利润率 | -25.6% | -21.3% |
| 净利率 | -29.5% | -18.4% |
| 营收同比 | -5.9% | -4.3% |
| 净利润同比 | -62.2% | 41.7% |
| 每股收益（稀释后） | $-0.40 | $0.04 |
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APLSDDD
| Q4 25 | $199.9M | $106.3M | ||
| Q3 25 | $458.6M | $91.2M | ||
| Q2 25 | $178.5M | $94.8M | ||
| Q1 25 | $166.8M | $94.5M | ||
| Q4 24 | $212.5M | $111.0M | ||
| Q3 24 | $196.8M | $112.9M | ||
| Q2 24 | $199.7M | $113.3M | ||
| Q1 24 | $172.3M | $102.9M |
净利润APLSDDD
| Q4 25 | $-59.0M | $-19.5M | ||
| Q3 25 | $215.7M | $-18.1M | ||
| Q2 25 | $-42.2M | $104.4M | ||
| Q1 25 | $-92.2M | $-37.0M | ||
| Q4 24 | $-36.4M | $-33.5M | ||
| Q3 24 | $-57.4M | $-178.6M | ||
| Q2 24 | $-37.7M | $-27.3M | ||
| Q1 24 | $-66.4M | $-16.0M |
毛利率APLSDDD
| Q4 25 | — | 30.8% | ||
| Q3 25 | — | 32.3% | ||
| Q2 25 | — | 38.1% | ||
| Q1 25 | — | 34.6% | ||
| Q4 24 | — | 31.0% | ||
| Q3 24 | — | 36.9% | ||
| Q2 24 | — | 41.6% | ||
| Q1 24 | — | 39.8% |
营业利润率APLSDDD
| Q4 25 | -25.6% | -21.3% | ||
| Q3 25 | 48.7% | -23.4% | ||
| Q2 25 | -18.6% | -16.2% | ||
| Q1 25 | -50.0% | -38.9% | ||
| Q4 24 | -12.3% | -27.4% | ||
| Q3 24 | -24.0% | -160.0% | ||
| Q2 24 | -14.7% | -23.3% | ||
| Q1 24 | -36.0% | -38.7% |
净利率APLSDDD
| Q4 25 | -29.5% | -18.4% | ||
| Q3 25 | 47.0% | -19.8% | ||
| Q2 25 | -23.6% | 110.1% | ||
| Q1 25 | -55.3% | -39.1% | ||
| Q4 24 | -17.1% | -30.1% | ||
| Q3 24 | -29.2% | -158.2% | ||
| Q2 24 | -18.9% | -24.1% | ||
| Q1 24 | -38.5% | -15.5% |
每股收益（稀释后）APLSDDD
| Q4 25 | $-0.40 | $0.04 | ||
| Q3 25 | $1.67 | $-0.14 | ||
| Q2 25 | $-0.33 | $0.57 | ||
| Q1 25 | $-0.74 | $-0.28 | ||
| Q4 24 | $-0.30 | $-0.26 | ||
| Q3 24 | $-0.46 | $-1.35 | ||
| Q2 24 | $-0.30 | $-0.21 | ||
| Q1 24 | $-0.54 | $-0.12 |
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 | $95.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $240.4M |
| 总资产 | $1.1B | $521.7M |
| 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APLSDDD
| Q4 25 | $466.2M | $95.6M | ||
| Q3 25 | $479.2M | $95.5M | ||
| Q2 25 | $370.0M | $116.4M | ||
| Q1 25 | $358.4M | $135.0M | ||
| Q4 24 | $411.3M | $171.3M | ||
| Q3 24 | $396.9M | $190.0M | ||
| Q2 24 | $360.1M | $192.7M | ||
| Q1 24 | $325.9M | $212.0M |
总债务APLSDDD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSDDD
| Q4 25 | $370.1M | $240.4M | ||
| Q3 25 | $401.2M | $221.1M | ||
| Q2 25 | $156.3M | $241.2M | ||
| Q1 25 | $164.2M | $145.6M | ||
| Q4 24 | $228.5M | $176.2M | ||
| Q3 24 | $237.1M | $218.0M | ||
| Q2 24 | $264.3M | $381.7M | ||
| Q1 24 | $266.7M | $408.4M |
总资产APLSDDD
| Q4 25 | $1.1B | $521.7M | ||
| Q3 25 | $1.1B | $554.5M | ||
| Q2 25 | $821.4M | $587.8M | ||
| Q1 25 | $807.3M | $583.4M | ||
| Q4 24 | $885.1M | $608.8M | ||
| Q3 24 | $901.9M | $658.3M | ||
| Q2 24 | $904.5M | $821.5M | ||
| Q1 24 | $831.9M | $857.2M |
负债/权益比APLSDDD
| 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 | $-14.7M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-16.6M |
| 自由现金流率自由现金流/营收 | -7.1% | -15.7% |
| 资本支出强度资本支出/营收 | 0.1% | 1.8% |
| 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 | $-97.8M |
8季度趋势，按日历期对齐
经营现金流APLSDDD
| Q4 25 | $-14.2M | $-14.7M | ||
| Q3 25 | $108.5M | $-13.5M | ||
| Q2 25 | $4.4M | $-25.8M | ||
| Q1 25 | $-53.4M | $-33.8M | ||
| Q4 24 | $19.4M | $-7.8M | ||
| Q3 24 | $34.1M | $-801.0K | ||
| Q2 24 | $-8.3M | $-10.8M | ||
| Q1 24 | $-133.0M | $-25.5M |
自由现金流APLSDDD
| Q4 25 | $-14.3M | $-16.6M | ||
| Q3 25 | $108.3M | $-15.8M | ||
| Q2 25 | $4.4M | $-28.8M | ||
| Q1 25 | $-53.4M | $-36.6M | ||
| Q4 24 | $19.3M | $-13.1M | ||
| Q3 24 | — | $-4.4M | ||
| Q2 24 | $-8.4M | $-14.7M | ||
| Q1 24 | $-133.3M | $-28.7M |
自由现金流率APLSDDD
| Q4 25 | -7.1% | -15.7% | ||
| Q3 25 | 23.6% | -17.3% | ||
| Q2 25 | 2.5% | -30.4% | ||
| Q1 25 | -32.0% | -38.7% | ||
| Q4 24 | 9.1% | -11.8% | ||
| Q3 24 | — | -3.9% | ||
| Q2 24 | -4.2% | -13.0% | ||
| Q1 24 | -77.3% | -27.9% |
资本支出强度APLSDDD
| Q4 25 | 0.1% | 1.8% | ||
| Q3 25 | 0.0% | 2.5% | ||
| Q2 25 | 0.0% | 3.1% | ||
| Q1 25 | 0.0% | 3.0% | ||
| Q4 24 | 0.0% | 4.8% | ||
| Q3 24 | 0.0% | 3.2% | ||
| Q2 24 | 0.0% | 3.5% | ||
| Q1 24 | 0.2% | 3.1% |
现金转化率APLSDDD
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | -0.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
DDD
| Products | $62.6M | 59% |
| Services | $43.7M | 41% |
