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Apellis Pharmaceuticals, Inc.（APLS）与EPR PROPERTIES（EPR）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EPR PROPERTIES的1.1倍（$199.9M vs $182.9M），EPR PROPERTIES净利率更高（36.6% vs -29.5%，领先66.1%），EPR PROPERTIES同比增速更快（3.2% vs -5.9%），EPR PROPERTIES自由现金流更多（$269.2M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 4.6%）
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。
EPR地产（前身为娱乐地产信托）是总部位于美国密苏里州堪萨斯城的房地产投资信托企业，专注投资游乐园、电影院、滑雪度假村等娱乐类地产项目，截至2022年共持有353处物业。
APLS vs EPR — 直观对比
营收规模更大
APLS
是对方的1.1倍
$182.9M
营收增速更快
EPR
高出9.2%
-5.9%
净利率更高
EPR
高出66.1%
-29.5%
自由现金流更多
EPR
多$283.5M
$-14.3M
两年增速更快
APLS
近两年复合增速
4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $182.9M |
| 净利润 | $-59.0M | $66.9M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 56.8% |
| 净利率 | -29.5% | 36.6% |
| 营收同比 | -5.9% | 3.2% |
| 净利润同比 | -62.2% | 897.0% |
| 每股收益（稀释后） | $-0.40 | $0.80 |
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APLSEPR
| Q4 25 | $199.9M | $182.9M | ||
| Q3 25 | $458.6M | $182.3M | ||
| Q2 25 | $178.5M | $178.1M | ||
| Q1 25 | $166.8M | $175.0M | ||
| Q4 24 | $212.5M | $177.2M | ||
| Q3 24 | $196.8M | $180.5M | ||
| Q2 24 | $199.7M | $173.1M | ||
| Q1 24 | $172.3M | $167.2M |
净利润APLSEPR
| Q4 25 | $-59.0M | $66.9M | ||
| Q3 25 | $215.7M | $66.6M | ||
| Q2 25 | $-42.2M | $75.6M | ||
| Q1 25 | $-92.2M | $65.8M | ||
| Q4 24 | $-36.4M | $-8.4M | ||
| Q3 24 | $-57.4M | $46.6M | ||
| Q2 24 | $-37.7M | $45.1M | ||
| Q1 24 | $-66.4M | $62.7M |
营业利润率APLSEPR
| Q4 25 | -25.6% | 56.8% | ||
| Q3 25 | 48.7% | 53.5% | ||
| Q2 25 | -18.6% | 62.5% | ||
| Q1 25 | -50.0% | 58.1% | ||
| Q4 24 | -12.3% | 25.5% | ||
| Q3 24 | -24.0% | 51.4% | ||
| Q2 24 | -14.7% | 45.9% | ||
| Q1 24 | -36.0% | 58.8% |
净利率APLSEPR
| Q4 25 | -29.5% | 36.6% | ||
| Q3 25 | 47.0% | 36.5% | ||
| Q2 25 | -23.6% | 42.5% | ||
| Q1 25 | -55.3% | 37.6% | ||
| Q4 24 | -17.1% | -4.7% | ||
| Q3 24 | -29.2% | 25.8% | ||
| Q2 24 | -18.9% | 26.1% | ||
| Q1 24 | -38.5% | 37.5% |
每股收益（稀释后）APLSEPR
| Q4 25 | $-0.40 | $0.80 | ||
| Q3 25 | $1.67 | $0.79 | ||
| Q2 25 | $-0.33 | $0.91 | ||
| Q1 25 | $-0.74 | $0.78 | ||
| Q4 24 | $-0.30 | $-0.19 | ||
| Q3 24 | $-0.46 | $0.53 | ||
| Q2 24 | $-0.30 | $0.51 | ||
| Q1 24 | $-0.54 | $0.75 |
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 | $90.6M |
| 总债务越低越好 | — | $2.9B |
| 股东权益账面价值 | $370.1M | $2.3B |
| 总资产 | $1.1B | $5.7B |
| 负债/权益比越低杠杆越低 | — | 1.26× |
8季度趋势，按日历期对齐
现金及短期投资APLSEPR
| Q4 25 | $466.2M | $90.6M | ||
| Q3 25 | $479.2M | $13.7M | ||
| Q2 25 | $370.0M | $13.0M | ||
| Q1 25 | $358.4M | $20.6M | ||
| Q4 24 | $411.3M | $22.1M | ||
| Q3 24 | $396.9M | $35.3M | ||
| Q2 24 | $360.1M | $33.7M | ||
| Q1 24 | $325.9M | $59.5M |
总债务APLSEPR
| Q4 25 | — | $2.9B | ||
| Q3 25 | — | $2.8B | ||
| Q2 25 | — | $2.8B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | — | $2.9B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | $93.1M | $2.8B |
股东权益APLSEPR
| Q4 25 | $370.1M | $2.3B | ||
| Q3 25 | $401.2M | $2.3B | ||
| Q2 25 | $156.3M | $2.3B | ||
| Q1 25 | $164.2M | $2.3B | ||
| Q4 24 | $228.5M | $2.3B | ||
| Q3 24 | $237.1M | $2.4B | ||
| Q2 24 | $264.3M | $2.4B | ||
| Q1 24 | $266.7M | $2.4B |
总资产APLSEPR
| Q4 25 | $1.1B | $5.7B | ||
| Q3 25 | $1.1B | $5.5B | ||
| Q2 25 | $821.4M | $5.6B | ||
| Q1 25 | $807.3M | $5.5B | ||
| Q4 24 | $885.1M | $5.6B | ||
| Q3 24 | $901.9M | $5.7B | ||
| Q2 24 | $904.5M | $5.6B | ||
| Q1 24 | $831.9M | $5.7B |
负债/权益比APLSEPR
| Q4 25 | — | 1.26× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.23× | ||
| Q3 24 | — | 1.19× | ||
| Q2 24 | — | 1.16× | ||
| Q1 24 | 0.35× | 1.15× |
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 | $421.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $269.2M |
| 自由现金流率自由现金流/营收 | -7.1% | 147.1% |
| 资本支出强度资本支出/营收 | 0.1% | 82.9% |
| 现金转化率经营现金流/净利润 | — | 6.29× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $568.5M |
8季度趋势，按日历期对齐
经营现金流APLSEPR
| Q4 25 | $-14.2M | $421.0M | ||
| Q3 25 | $108.5M | $136.5M | ||
| Q2 25 | $4.4M | $87.3M | ||
| Q1 25 | $-53.4M | $99.4M | ||
| Q4 24 | $19.4M | $393.1M | ||
| Q3 24 | $34.1M | $122.0M | ||
| Q2 24 | $-8.3M | $78.7M | ||
| Q1 24 | $-133.0M | $99.5M |
自由现金流APLSEPR
| Q4 25 | $-14.3M | $269.2M | ||
| Q3 25 | $108.3M | $132.1M | ||
| Q2 25 | $4.4M | $82.4M | ||
| Q1 25 | $-53.4M | $84.7M | ||
| Q4 24 | $19.3M | $129.2M | ||
| Q3 24 | — | $121.5M | ||
| Q2 24 | $-8.4M | $71.3M | ||
| Q1 24 | $-133.3M | $65.0M |
自由现金流率APLSEPR
| Q4 25 | -7.1% | 147.1% | ||
| Q3 25 | 23.6% | 72.5% | ||
| Q2 25 | 2.5% | 46.3% | ||
| Q1 25 | -32.0% | 48.4% | ||
| Q4 24 | 9.1% | 72.9% | ||
| Q3 24 | — | 67.3% | ||
| Q2 24 | -4.2% | 41.2% | ||
| Q1 24 | -77.3% | 38.9% |
资本支出强度APLSEPR
| Q4 25 | 0.1% | 82.9% | ||
| Q3 25 | 0.0% | 2.4% | ||
| Q2 25 | 0.0% | 2.7% | ||
| Q1 25 | 0.0% | 8.4% | ||
| Q4 24 | 0.0% | 148.9% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.0% | 4.2% | ||
| Q1 24 | 0.2% | 20.6% |
现金转化率APLSEPR
| Q4 25 | — | 6.29× | ||
| Q3 25 | 0.50× | 2.05× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.62× | ||
| Q2 24 | — | 1.74× | ||
| Q1 24 | — | 1.59× |
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% |
EPR
| Experiential Reportable Operating Segment | $173.3M | 95% |
| Education Reportable Operating Segment | $9.5M | 5% |
