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Apellis Pharmaceuticals, Inc.（APLS）与DT Midstream, Inc.（DTM）财务数据对比。点击上方公司名可切换其他公司
DT Midstream, Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.6倍（$317.0M vs $199.9M），DT Midstream, Inc.净利率更高（35.0% vs -29.5%，领先64.5%），DT Midstream, Inc.同比增速更快（27.3% vs -5.9%），DT Midstream, Inc.自由现金流更多（$30.0M vs $-14.3M），过去两年DT Midstream, Inc.的营收复合增速更高（14.9% 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。
ONEOK是美国油气中游运营商，总部位于俄克拉荷马州塔尔萨，为油气行业提供收集、处理、分馏、运输及存储服务，是财富500强企业及标普500指数成分股。公司1906年成立时名为俄克拉荷马天然气公司，1980年更为现名。
APLS vs DTM — 直观对比
营收规模更大
DTM
是对方的1.6倍
$199.9M
营收增速更快
DTM
高出33.2%
-5.9%
净利率更高
DTM
高出64.5%
-29.5%
自由现金流更多
DTM
多$44.3M
$-14.3M
两年增速更快
DTM
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $317.0M |
| 净利润 | $-59.0M | $111.0M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 49.2% |
| 净利率 | -29.5% | 35.0% |
| 营收同比 | -5.9% | 27.3% |
| 净利润同比 | -62.2% | 52.1% |
| 每股收益（稀释后） | $-0.40 | $1.07 |
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APLSDTM
| Q4 25 | $199.9M | $317.0M | ||
| Q3 25 | $458.6M | $314.0M | ||
| Q2 25 | $178.5M | $309.0M | ||
| Q1 25 | $166.8M | $303.0M | ||
| Q4 24 | $212.5M | $249.0M | ||
| Q3 24 | $196.8M | $248.0M | ||
| Q2 24 | $199.7M | $244.0M | ||
| Q1 24 | $172.3M | $240.0M |
净利润APLSDTM
| Q4 25 | $-59.0M | $111.0M | ||
| Q3 25 | $215.7M | $115.0M | ||
| Q2 25 | $-42.2M | $107.0M | ||
| Q1 25 | $-92.2M | $108.0M | ||
| Q4 24 | $-36.4M | $73.0M | ||
| Q3 24 | $-57.4M | $88.0M | ||
| Q2 24 | $-37.7M | $96.0M | ||
| Q1 24 | $-66.4M | $97.0M |
营业利润率APLSDTM
| Q4 25 | -25.6% | 49.2% | ||
| Q3 25 | 48.7% | 49.4% | ||
| Q2 25 | -18.6% | 50.2% | ||
| Q1 25 | -50.0% | 48.8% | ||
| Q4 24 | -12.3% | 45.4% | ||
| Q3 24 | -24.0% | 49.2% | ||
| Q2 24 | -14.7% | 53.3% | ||
| Q1 24 | -36.0% | 51.7% |
净利率APLSDTM
| Q4 25 | -29.5% | 35.0% | ||
| Q3 25 | 47.0% | 36.6% | ||
| Q2 25 | -23.6% | 34.6% | ||
| Q1 25 | -55.3% | 35.6% | ||
| Q4 24 | -17.1% | 29.3% | ||
| Q3 24 | -29.2% | 35.5% | ||
| Q2 24 | -18.9% | 39.3% | ||
| Q1 24 | -38.5% | 40.4% |
每股收益（稀释后）APLSDTM
| Q4 25 | $-0.40 | $1.07 | ||
| Q3 25 | $1.67 | $1.13 | ||
| Q2 25 | $-0.33 | $1.04 | ||
| Q1 25 | $-0.74 | $1.06 | ||
| Q4 24 | $-0.30 | $0.73 | ||
| Q3 24 | $-0.46 | $0.90 | ||
| Q2 24 | $-0.30 | $0.98 | ||
| Q1 24 | $-0.54 | $0.99 |
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 | $54.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $4.7B |
| 总资产 | $1.1B | $10.1B |
| 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APLSDTM
| Q4 25 | $466.2M | $54.0M | ||
| Q3 25 | $479.2M | $98.0M | ||
| Q2 25 | $370.0M | $74.0M | ||
| Q1 25 | $358.4M | $83.0M | ||
| Q4 24 | $411.3M | $68.0M | ||
| Q3 24 | $396.9M | $77.0M | ||
| Q2 24 | $360.1M | $73.0M | ||
| Q1 24 | $325.9M | $41.0M |
总债务APLSDTM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSDTM
| Q4 25 | $370.1M | $4.7B | ||
| Q3 25 | $401.2M | $4.7B | ||
| Q2 25 | $156.3M | $4.7B | ||
| Q1 25 | $164.2M | $4.6B | ||
| Q4 24 | $228.5M | $4.6B | ||
| Q3 24 | $237.1M | $4.2B | ||
| Q2 24 | $264.3M | $4.2B | ||
| Q1 24 | $266.7M | $4.2B |
总资产APLSDTM
| Q4 25 | $1.1B | $10.1B | ||
| Q3 25 | $1.1B | $10.1B | ||
| Q2 25 | $821.4M | $10.0B | ||
| Q1 25 | $807.3M | $9.9B | ||
| Q4 24 | $885.1M | $9.9B | ||
| Q3 24 | $901.9M | $8.6B | ||
| Q2 24 | $904.5M | $9.0B | ||
| Q1 24 | $831.9M | $9.0B |
负债/权益比APLSDTM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.72× | ||
| 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 | $161.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $30.0M |
| 自由现金流率自由现金流/营收 | -7.1% | 9.5% |
| 资本支出强度资本支出/营收 | 0.1% | 41.3% |
| 现金转化率经营现金流/净利润 | — | 1.45× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $441.0M |
8季度趋势，按日历期对齐
经营现金流APLSDTM
| Q4 25 | $-14.2M | $161.0M | ||
| Q3 25 | $108.5M | $274.0M | ||
| Q2 25 | $4.4M | $185.0M | ||
| Q1 25 | $-53.4M | $247.0M | ||
| Q4 24 | $19.4M | $152.0M | ||
| Q3 24 | $34.1M | $205.0M | ||
| Q2 24 | $-8.3M | $165.0M | ||
| Q1 24 | $-133.0M | $241.0M |
自由现金流APLSDTM
| Q4 25 | $-14.3M | $30.0M | ||
| Q3 25 | $108.3M | $131.0M | ||
| Q2 25 | $4.4M | $104.0M | ||
| Q1 25 | $-53.4M | $176.0M | ||
| Q4 24 | $19.3M | $62.0M | ||
| Q3 24 | — | $124.0M | ||
| Q2 24 | $-8.4M | $84.0M | ||
| Q1 24 | $-133.3M | $143.0M |
自由现金流率APLSDTM
| Q4 25 | -7.1% | 9.5% | ||
| Q3 25 | 23.6% | 41.7% | ||
| Q2 25 | 2.5% | 33.7% | ||
| Q1 25 | -32.0% | 58.1% | ||
| Q4 24 | 9.1% | 24.9% | ||
| Q3 24 | — | 50.0% | ||
| Q2 24 | -4.2% | 34.4% | ||
| Q1 24 | -77.3% | 59.6% |
资本支出强度APLSDTM
| Q4 25 | 0.1% | 41.3% | ||
| Q3 25 | 0.0% | 45.5% | ||
| Q2 25 | 0.0% | 26.2% | ||
| Q1 25 | 0.0% | 23.4% | ||
| Q4 24 | 0.0% | 36.1% | ||
| Q3 24 | 0.0% | 32.7% | ||
| Q2 24 | 0.0% | 33.2% | ||
| Q1 24 | 0.2% | 40.8% |
现金转化率APLSDTM
| Q4 25 | — | 1.45× | ||
| Q3 25 | 0.50× | 2.38× | ||
| Q2 25 | — | 1.73× | ||
| Q1 25 | — | 2.29× | ||
| Q4 24 | — | 2.08× | ||
| Q3 24 | — | 2.33× | ||
| Q2 24 | — | 1.72× | ||
| Q1 24 | — | 2.48× |
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% |
DTM
| Pipeline Segment | $173.0M | 55% |
| Gathering Segment | $144.0M | 45% |
