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Apellis Pharmaceuticals, Inc.（APLS）与慧与（EFSC）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是慧与的1.1倍（$199.9M vs $185.2M），慧与净利率更高（26.6% vs -29.5%，领先56.1%），过去两年慧与的营收复合增速更高（9.0% 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。
慧与（Hewlett Packard Enterprise，简称HPE）是总部位于美国得克萨斯州斯普林的跨国信息技术企业，面向企业客户提供服务器、存储、网络、容器化软件及咨询支持服务，2018年位列美国《财富》500强第107位。
APLS vs EFSC — 直观对比
营收规模更大
APLS
是对方的1.1倍
$185.2M
净利率更高
EFSC
高出56.1%
-29.5%
两年增速更快
EFSC
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $185.2M |
| 净利润 | $-59.0M | $49.4M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | — |
| 净利率 | -29.5% | 26.6% |
| 营收同比 | -5.9% | — |
| 净利润同比 | -62.2% | -1.2% |
| 每股收益（稀释后） | $-0.40 | $1.30 |
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APLSEFSC
| Q1 26 | — | $185.2M | ||
| Q4 25 | $199.9M | $193.6M | ||
| Q3 25 | $458.6M | $206.9M | ||
| Q2 25 | $178.5M | $173.4M | ||
| Q1 25 | $166.8M | $166.0M | ||
| Q4 24 | $212.5M | $167.0M | ||
| Q3 24 | $196.8M | $164.9M | ||
| Q2 24 | $199.7M | $156.0M |
净利润APLSEFSC
| Q1 26 | — | $49.4M | ||
| Q4 25 | $-59.0M | $54.8M | ||
| Q3 25 | $215.7M | $45.2M | ||
| Q2 25 | $-42.2M | $51.4M | ||
| Q1 25 | $-92.2M | $50.0M | ||
| Q4 24 | $-36.4M | $48.8M | ||
| Q3 24 | $-57.4M | $50.6M | ||
| Q2 24 | $-37.7M | $45.4M |
营业利润率APLSEFSC
| Q1 26 | — | — | ||
| Q4 25 | -25.6% | — | ||
| Q3 25 | 48.7% | 42.9% | ||
| Q2 25 | -18.6% | 37.0% | ||
| Q1 25 | -50.0% | 36.8% | ||
| Q4 24 | -12.3% | — | ||
| Q3 24 | -24.0% | 38.1% | ||
| Q2 24 | -14.7% | 36.7% |
净利率APLSEFSC
| Q1 26 | — | 26.6% | ||
| Q4 25 | -29.5% | 28.3% | ||
| Q3 25 | 47.0% | 21.9% | ||
| Q2 25 | -23.6% | 29.6% | ||
| Q1 25 | -55.3% | 30.1% | ||
| Q4 24 | -17.1% | 29.2% | ||
| Q3 24 | -29.2% | 30.7% | ||
| Q2 24 | -18.9% | 29.1% |
每股收益（稀释后）APLSEFSC
| Q1 26 | — | $1.30 | ||
| Q4 25 | $-0.40 | $1.45 | ||
| Q3 25 | $1.67 | $1.19 | ||
| Q2 25 | $-0.33 | $1.36 | ||
| Q1 25 | $-0.74 | $1.31 | ||
| Q4 24 | $-0.30 | $1.27 | ||
| Q3 24 | $-0.46 | $1.32 | ||
| Q2 24 | $-0.30 | $1.19 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $2.1B |
| 总资产 | $1.1B | $17.3B |
| 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APLSEFSC
| Q1 26 | — | — | ||
| Q4 25 | $466.2M | — | ||
| Q3 25 | $479.2M | — | ||
| Q2 25 | $370.0M | — | ||
| Q1 25 | $358.4M | — | ||
| Q4 24 | $411.3M | — | ||
| Q3 24 | $396.9M | — | ||
| Q2 24 | $360.1M | — |
股东权益APLSEFSC
| Q1 26 | — | $2.1B | ||
| Q4 25 | $370.1M | $2.0B | ||
| Q3 25 | $401.2M | $2.0B | ||
| Q2 25 | $156.3M | $1.9B | ||
| Q1 25 | $164.2M | $1.9B | ||
| Q4 24 | $228.5M | $1.8B | ||
| Q3 24 | $237.1M | $1.8B | ||
| Q2 24 | $264.3M | $1.8B |
总资产APLSEFSC
| Q1 26 | — | $17.3B | ||
| Q4 25 | $1.1B | $17.3B | ||
| Q3 25 | $1.1B | $16.4B | ||
| Q2 25 | $821.4M | $16.1B | ||
| Q1 25 | $807.3M | $15.7B | ||
| Q4 24 | $885.1M | $15.6B | ||
| Q3 24 | $901.9M | $15.0B | ||
| Q2 24 | $904.5M | $14.6B |
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 | — |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | — |
| 自由现金流率自由现金流/营收 | -7.1% | — |
| 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 | — | — |
| 过去12个月自由现金流最近4个季度 | $45.0M | — |
8季度趋势，按日历期对齐
经营现金流APLSEFSC
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $193.5M | ||
| Q3 25 | $108.5M | $49.4M | ||
| Q2 25 | $4.4M | $61.3M | ||
| Q1 25 | $-53.4M | $40.0M | ||
| Q4 24 | $19.4M | $247.4M | ||
| Q3 24 | $34.1M | $89.0M | ||
| Q2 24 | $-8.3M | $76.5M |
自由现金流APLSEFSC
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | $181.5M | ||
| Q3 25 | $108.3M | $47.1M | ||
| Q2 25 | $4.4M | $59.0M | ||
| Q1 25 | $-53.4M | $35.6M | ||
| Q4 24 | $19.3M | $239.9M | ||
| Q3 24 | — | $88.2M | ||
| Q2 24 | $-8.4M | $74.7M |
自由现金流率APLSEFSC
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | 93.8% | ||
| Q3 25 | 23.6% | 22.8% | ||
| Q2 25 | 2.5% | 34.0% | ||
| Q1 25 | -32.0% | 21.5% | ||
| Q4 24 | 9.1% | 143.7% | ||
| Q3 24 | — | 53.5% | ||
| Q2 24 | -4.2% | 47.9% |
资本支出强度APLSEFSC
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 6.2% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.0% | 1.3% | ||
| Q1 25 | 0.0% | 2.7% | ||
| Q4 24 | 0.0% | 4.5% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 1.1% |
现金转化率APLSEFSC
| Q1 26 | — | — | ||
| Q4 25 | — | 3.53× | ||
| Q3 25 | 0.50× | 1.09× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | — | 0.80× | ||
| Q4 24 | — | 5.07× | ||
| Q3 24 | — | 1.76× | ||
| Q2 24 | — | 1.68× |
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% |
EFSC
| Net Interest Income | $166.1M | 90% |
| Noninterest Income | $19.1M | 10% |
