vs
Apellis Pharmaceuticals, Inc.（APLS）与Ecovyst Inc.（ECVT）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Ecovyst Inc.的1.0倍（$199.9M vs $199.4M），Ecovyst Inc.同比增速更快（34.0% vs -5.9%），Ecovyst Inc.自由现金流更多（$22.9M vs $-14.3M），过去两年Ecovyst Inc.的营收复合增速更高（18.7% 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。
Ecovyst Inc.是一家全球可持续特种材料供应商，主营高性能催化剂与功能性添加剂的研发、生产，产品服务覆盖工业制造、消费品、环保等核心领域，助力全球客户提升运营效率、降低碳排放。
APLS vs ECVT — 直观对比
营收规模更大
APLS
是对方的1.0倍
$199.4M
营收增速更快
ECVT
高出39.9%
-5.9%
自由现金流更多
ECVT
多$37.2M
$-14.3M
两年增速更快
ECVT
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $199.4M |
| 净利润 | $-59.0M | — |
| 毛利率 | — | 23.4% |
| 营业利润率 | -25.6% | 10.9% |
| 净利率 | -29.5% | — |
| 营收同比 | -5.9% | 34.0% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $0.06 |
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APLSECVT
| Q4 25 | $199.9M | $199.4M | ||
| Q3 25 | $458.6M | $204.9M | ||
| Q2 25 | $178.5M | $176.1M | ||
| Q1 25 | $166.8M | $143.1M | ||
| Q4 24 | $212.5M | $148.9M | ||
| Q3 24 | $196.8M | $153.9M | ||
| Q2 24 | $199.7M | $154.0M | ||
| Q1 24 | $172.3M | $141.6M |
净利润APLSECVT
| Q4 25 | $-59.0M | — | ||
| Q3 25 | $215.7M | $-79.3M | ||
| Q2 25 | $-42.2M | $6.0M | ||
| Q1 25 | $-92.2M | $-3.6M | ||
| Q4 24 | $-36.4M | — | ||
| Q3 24 | $-57.4M | $14.3M | ||
| Q2 24 | $-37.7M | $8.3M | ||
| Q1 24 | $-66.4M | $1.2M |
毛利率APLSECVT
| Q4 25 | — | 23.4% | ||
| Q3 25 | — | 25.4% | ||
| Q2 25 | — | 22.8% | ||
| Q1 25 | — | 13.3% | ||
| Q4 24 | — | 28.9% | ||
| Q3 24 | — | 29.3% | ||
| Q2 24 | — | 27.3% | ||
| Q1 24 | — | 23.5% |
营业利润率APLSECVT
| Q4 25 | -25.6% | 10.9% | ||
| Q3 25 | 48.7% | 13.8% | ||
| Q2 25 | -18.6% | 9.0% | ||
| Q1 25 | -50.0% | -0.7% | ||
| Q4 24 | -12.3% | 15.1% | ||
| Q3 24 | -24.0% | 17.9% | ||
| Q2 24 | -14.7% | 14.1% | ||
| Q1 24 | -36.0% | 9.5% |
净利率APLSECVT
| Q4 25 | -29.5% | — | ||
| Q3 25 | 47.0% | -38.7% | ||
| Q2 25 | -23.6% | 3.4% | ||
| Q1 25 | -55.3% | -2.5% | ||
| Q4 24 | -17.1% | — | ||
| Q3 24 | -29.2% | 9.3% | ||
| Q2 24 | -18.9% | 5.4% | ||
| Q1 24 | -38.5% | 0.9% |
每股收益（稀释后）APLSECVT
| Q4 25 | $-0.40 | $0.06 | ||
| Q3 25 | $1.67 | $-0.69 | ||
| Q2 25 | $-0.33 | $0.05 | ||
| Q1 25 | $-0.74 | $-0.03 | ||
| Q4 24 | $-0.30 | $-0.26 | ||
| Q3 24 | $-0.46 | $0.12 | ||
| Q2 24 | $-0.30 | $0.07 | ||
| Q1 24 | $-0.54 | $0.01 |
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 | $197.2M |
| 总债务越低越好 | — | $392.6M |
| 股东权益账面价值 | $370.1M | $603.4M |
| 总资产 | $1.1B | $1.3B |
| 负债/权益比越低杠杆越低 | — | 0.65× |
8季度趋势，按日历期对齐
现金及短期投资APLSECVT
| Q4 25 | $466.2M | $197.2M | ||
| Q3 25 | $479.2M | $82.0M | ||
| Q2 25 | $370.0M | $69.6M | ||
| Q1 25 | $358.4M | $127.5M | ||
| Q4 24 | $411.3M | $131.4M | ||
| Q3 24 | $396.9M | $123.5M | ||
| Q2 24 | $360.1M | $83.3M | ||
| Q1 24 | $325.9M | $103.1M |
总债务APLSECVT
| Q4 25 | — | $392.6M | ||
| Q3 25 | — | $854.8M | ||
| Q2 25 | — | $856.6M | ||
| Q1 25 | — | $859.0M | ||
| Q4 24 | — | $860.8M | ||
| Q3 24 | — | $862.7M | ||
| Q2 24 | — | $862.4M | ||
| Q1 24 | $93.1M | $866.2M |
股东权益APLSECVT
| Q4 25 | $370.1M | $603.4M | ||
| Q3 25 | $401.2M | $607.9M | ||
| Q2 25 | $156.3M | $692.4M | ||
| Q1 25 | $164.2M | $698.7M | ||
| Q4 24 | $228.5M | $700.5M | ||
| Q3 24 | $237.1M | $729.4M | ||
| Q2 24 | $264.3M | $717.3M | ||
| Q1 24 | $266.7M | $711.4M |
总资产APLSECVT
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $821.4M | $1.8B | ||
| Q1 25 | $807.3M | $1.8B | ||
| Q4 24 | $885.1M | $1.8B | ||
| Q3 24 | $901.9M | $1.8B | ||
| Q2 24 | $904.5M | $1.8B | ||
| Q1 24 | $831.9M | $1.8B |
负债/权益比APLSECVT
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.23× | ||
| Q4 24 | — | 1.23× | ||
| Q3 24 | — | 1.18× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | 0.35× | 1.22× |
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 | $41.8M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $22.9M |
| 自由现金流率自由现金流/营收 | -7.1% | 11.5% |
| 资本支出强度资本支出/营收 | 0.1% | 9.4% |
| 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 | $69.9M |
8季度趋势，按日历期对齐
经营现金流APLSECVT
| Q4 25 | $-14.2M | $41.8M | ||
| Q3 25 | $108.5M | $55.3M | ||
| Q2 25 | $4.4M | $33.0M | ||
| Q1 25 | $-53.4M | $10.3M | ||
| Q4 24 | $19.4M | $43.5M | ||
| Q3 24 | $34.1M | $59.9M | ||
| Q2 24 | $-8.3M | $10.0M | ||
| Q1 24 | $-133.0M | $36.5M |
自由现金流APLSECVT
| Q4 25 | $-14.3M | $22.9M | ||
| Q3 25 | $108.3M | $53.2M | ||
| Q2 25 | $4.4M | $7.8M | ||
| Q1 25 | $-53.4M | $-14.0M | ||
| Q4 24 | $19.3M | $30.9M | ||
| Q3 24 | — | $53.6M | ||
| Q2 24 | $-8.4M | $-9.3M | ||
| Q1 24 | $-133.3M | $19.1M |
自由现金流率APLSECVT
| Q4 25 | -7.1% | 11.5% | ||
| Q3 25 | 23.6% | 26.0% | ||
| Q2 25 | 2.5% | 4.4% | ||
| Q1 25 | -32.0% | -9.8% | ||
| Q4 24 | 9.1% | 20.7% | ||
| Q3 24 | — | 34.9% | ||
| Q2 24 | -4.2% | -6.1% | ||
| Q1 24 | -77.3% | 13.5% |
资本支出强度APLSECVT
| Q4 25 | 0.1% | 9.4% | ||
| Q3 25 | 0.0% | 1.0% | ||
| Q2 25 | 0.0% | 14.4% | ||
| Q1 25 | 0.0% | 16.9% | ||
| Q4 24 | 0.0% | 8.5% | ||
| Q3 24 | 0.0% | 4.1% | ||
| Q2 24 | 0.0% | 12.5% | ||
| Q1 24 | 0.2% | 12.3% |
现金转化率APLSECVT
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | 5.52× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.21× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 29.90× |
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% |
ECVT
| Industrial Mining Automotive | $101.3M | 51% |
| Regeneration And Treatment Services | $90.0M | 45% |
| Other | $8.1M | 4% |
