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Apellis Pharmaceuticals, Inc.（APLS）与多邻国（DUOL）财务数据对比。点击上方公司名可切换其他公司
多邻国的季度营收约是Apellis Pharmaceuticals, Inc.的1.4倍（$282.9M vs $199.9M），多邻国净利率更高（14.8% vs -29.5%，领先44.3%），多邻国同比增速更快（35.0% vs -5.9%），多邻国自由现金流更多（$96.6M vs $-14.3M），过去两年多邻国的营收复合增速更高（29.9% 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。
多邻国是全球知名教育科技企业，提供覆盖40余种语言的免费及付费游戏化自适应学习课程，同时推出官方语言能力认证、数学学习、扫盲教育等服务，面向个人用户、教育机构及企业客户提供多元学习解决方案。
APLS vs DUOL — 直观对比
营收规模更大
DUOL
是对方的1.4倍
$199.9M
营收增速更快
DUOL
高出40.9%
-5.9%
净利率更高
DUOL
高出44.3%
-29.5%
自由现金流更多
DUOL
多$110.8M
$-14.3M
两年增速更快
DUOL
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $282.9M |
| 净利润 | $-59.0M | $42.0M |
| 毛利率 | — | 72.8% |
| 营业利润率 | -25.6% | 15.4% |
| 净利率 | -29.5% | 14.8% |
| 营收同比 | -5.9% | 35.0% |
| 净利润同比 | -62.2% | 201.7% |
| 每股收益（稀释后） | $-0.40 | $0.99 |
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APLSDUOL
| Q4 25 | $199.9M | $282.9M | ||
| Q3 25 | $458.6M | $271.7M | ||
| Q2 25 | $178.5M | $252.3M | ||
| Q1 25 | $166.8M | $230.7M | ||
| Q4 24 | $212.5M | $209.6M | ||
| Q3 24 | $196.8M | $192.6M | ||
| Q2 24 | $199.7M | $178.3M | ||
| Q1 24 | $172.3M | $167.6M |
净利润APLSDUOL
| Q4 25 | $-59.0M | $42.0M | ||
| Q3 25 | $215.7M | $292.2M | ||
| Q2 25 | $-42.2M | $44.8M | ||
| Q1 25 | $-92.2M | $35.1M | ||
| Q4 24 | $-36.4M | $13.9M | ||
| Q3 24 | $-57.4M | $23.4M | ||
| Q2 24 | $-37.7M | $24.4M | ||
| Q1 24 | $-66.4M | $27.0M |
毛利率APLSDUOL
| Q4 25 | — | 72.8% | ||
| Q3 25 | — | 72.5% | ||
| Q2 25 | — | 72.4% | ||
| Q1 25 | — | 71.1% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | — | 72.9% | ||
| Q2 24 | — | 73.4% | ||
| Q1 24 | — | 73.0% |
营业利润率APLSDUOL
| Q4 25 | -25.6% | 15.4% | ||
| Q3 25 | 48.7% | 12.9% | ||
| Q2 25 | -18.6% | 13.2% | ||
| Q1 25 | -50.0% | 10.2% | ||
| Q4 24 | -12.3% | 6.6% | ||
| Q3 24 | -24.0% | 7.0% | ||
| Q2 24 | -14.7% | 10.5% | ||
| Q1 24 | -36.0% | 9.8% |
净利率APLSDUOL
| Q4 25 | -29.5% | 14.8% | ||
| Q3 25 | 47.0% | 107.5% | ||
| Q2 25 | -23.6% | 17.8% | ||
| Q1 25 | -55.3% | 15.2% | ||
| Q4 24 | -17.1% | 6.6% | ||
| Q3 24 | -29.2% | 12.1% | ||
| Q2 24 | -18.9% | 13.7% | ||
| Q1 24 | -38.5% | 16.1% |
每股收益（稀释后）APLSDUOL
| Q4 25 | $-0.40 | $0.99 | ||
| Q3 25 | $1.67 | $5.95 | ||
| Q2 25 | $-0.33 | $0.91 | ||
| Q1 25 | $-0.74 | $0.72 | ||
| Q4 24 | $-0.30 | $0.31 | ||
| Q3 24 | $-0.46 | $0.49 | ||
| Q2 24 | $-0.30 | $0.51 | ||
| Q1 24 | $-0.54 | $0.57 |
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 | $1.0B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.3B |
| 总资产 | $1.1B | $2.0B |
| 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APLSDUOL
| Q4 25 | $466.2M | $1.0B | ||
| Q3 25 | $479.2M | $1.0B | ||
| Q2 25 | $370.0M | $976.2M | ||
| Q1 25 | $358.4M | $884.0M | ||
| Q4 24 | $411.3M | $785.8M | ||
| Q3 24 | $396.9M | $854.4M | ||
| Q2 24 | $360.1M | $888.2M | ||
| Q1 24 | $325.9M | $829.7M |
总债务APLSDUOL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSDUOL
| Q4 25 | $370.1M | $1.3B | ||
| Q3 25 | $401.2M | $1.3B | ||
| Q2 25 | $156.3M | $977.0M | ||
| Q1 25 | $164.2M | $893.8M | ||
| Q4 24 | $228.5M | $824.5M | ||
| Q3 24 | $237.1M | $822.5M | ||
| Q2 24 | $264.3M | $766.9M | ||
| Q1 24 | $266.7M | $711.1M |
总资产APLSDUOL
| Q4 25 | $1.1B | $2.0B | ||
| Q3 25 | $1.1B | $1.9B | ||
| Q2 25 | $821.4M | $1.5B | ||
| Q1 25 | $807.3M | $1.4B | ||
| Q4 24 | $885.1M | $1.3B | ||
| Q3 24 | $901.9M | $1.2B | ||
| Q2 24 | $904.5M | $1.1B | ||
| Q1 24 | $831.9M | $1.1B |
负债/权益比APLSDUOL
| 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 | $107.3M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $96.6M |
| 自由现金流率自由现金流/营收 | -7.1% | 34.1% |
| 资本支出强度资本支出/营收 | 0.1% | 3.8% |
| 现金转化率经营现金流/净利润 | — | 2.56× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $369.7M |
8季度趋势，按日历期对齐
经营现金流APLSDUOL
| Q4 25 | $-14.2M | $107.3M | ||
| Q3 25 | $108.5M | $84.2M | ||
| Q2 25 | $4.4M | $90.7M | ||
| Q1 25 | $-53.4M | $105.6M | ||
| Q4 24 | $19.4M | $83.3M | ||
| Q3 24 | $34.1M | $56.3M | ||
| Q2 24 | $-8.3M | $62.4M | ||
| Q1 24 | $-133.0M | $83.5M |
自由现金流APLSDUOL
| Q4 25 | $-14.3M | $96.6M | ||
| Q3 25 | $108.3M | $79.4M | ||
| Q2 25 | $4.4M | $89.5M | ||
| Q1 25 | $-53.4M | $104.3M | ||
| Q4 24 | $19.3M | $81.4M | ||
| Q3 24 | — | $53.1M | ||
| Q2 24 | $-8.4M | $56.8M | ||
| Q1 24 | $-133.3M | $82.1M |
自由现金流率APLSDUOL
| Q4 25 | -7.1% | 34.1% | ||
| Q3 25 | 23.6% | 29.2% | ||
| Q2 25 | 2.5% | 35.5% | ||
| Q1 25 | -32.0% | 45.2% | ||
| Q4 24 | 9.1% | 38.8% | ||
| Q3 24 | — | 27.6% | ||
| Q2 24 | -4.2% | 31.9% | ||
| Q1 24 | -77.3% | 49.0% |
资本支出强度APLSDUOL
| Q4 25 | 0.1% | 3.8% | ||
| Q3 25 | 0.0% | 1.8% | ||
| Q2 25 | 0.0% | 0.5% | ||
| Q1 25 | 0.0% | 0.6% | ||
| Q4 24 | 0.0% | 0.9% | ||
| Q3 24 | 0.0% | 1.7% | ||
| Q2 24 | 0.0% | 3.1% | ||
| Q1 24 | 0.2% | 0.8% |
现金转化率APLSDUOL
| Q4 25 | — | 2.56× | ||
| Q3 25 | 0.50× | 0.29× | ||
| Q2 25 | — | 2.02× | ||
| Q1 25 | — | 3.01× | ||
| Q4 24 | — | 5.99× | ||
| Q3 24 | — | 2.41× | ||
| Q2 24 | — | 2.56× | ||
| Q1 24 | — | 3.10× |
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% |
DUOL
| License And Service | $242.3M | 86% |
| Advertising | $20.2M | 7% |
| English Test | $10.3M | 4% |
| Other | $10.1M | 4% |
