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Apellis Pharmaceuticals, Inc.（APLS）与Empire State Realty OP, L.P.（ESBA）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Empire State Realty OP, L.P.的1.0倍（$199.9M vs $199.2M），Empire State Realty OP, L.P.净利率更高（16.1% vs -29.5%，领先45.6%），Empire State Realty OP, L.P.同比增速更快（0.8% vs -5.9%），Empire State Realty OP, L.P.自由现金流更多（$50.6M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 4.9%）
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。
Empire State Realty OP, L.P. 是一家房地产运营合伙企业，核心业务为持有、管理及出租优质商业与零售物业，主要布局纽约大都会区，旗下拥有帝国大厦等标志性地标，服务企业租户、零售品牌及旅游相关业务板块。
APLS vs ESBA — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $199.2M |
| 净利润 | $-59.0M | $32.2M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 17.8% |
| 净利率 | -29.5% | 16.1% |
| 营收同比 | -5.9% | 0.8% |
| 净利润同比 | -62.2% | 71.2% |
| 每股收益（稀释后） | $-0.40 | $0.11 |
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
| Q4 25 | $199.9M | $199.2M | ||
| Q3 25 | $458.6M | $197.7M | ||
| Q2 25 | $178.5M | $191.3M | ||
| Q1 25 | $166.8M | $180.1M | ||
| Q4 24 | $212.5M | $197.6M | ||
| Q3 24 | $196.8M | $199.6M | ||
| Q2 24 | $199.7M | $189.5M | ||
| Q1 24 | $172.3M | $181.2M |
| Q4 25 | $-59.0M | $32.2M | ||
| Q3 25 | $215.7M | $13.6M | ||
| Q2 25 | $-42.2M | $11.4M | ||
| Q1 25 | $-92.2M | $15.8M | ||
| Q4 24 | $-36.4M | $18.8M | ||
| Q3 24 | $-57.4M | $22.8M | ||
| Q2 24 | $-37.7M | $28.6M | ||
| Q1 24 | $-66.4M | $10.2M |
| Q4 25 | -25.6% | 17.8% | ||
| Q3 25 | 48.7% | 19.9% | ||
| Q2 25 | -18.6% | 18.4% | ||
| Q1 25 | -50.0% | 14.3% | ||
| Q4 24 | -12.3% | 21.7% | ||
| Q3 24 | -24.0% | 22.7% | ||
| Q2 24 | -14.7% | 20.8% | ||
| Q1 24 | -36.0% | 17.1% |
| Q4 25 | -29.5% | 16.1% | ||
| Q3 25 | 47.0% | 6.9% | ||
| Q2 25 | -23.6% | 6.0% | ||
| Q1 25 | -55.3% | 8.8% | ||
| Q4 24 | -17.1% | 9.5% | ||
| Q3 24 | -29.2% | 11.4% | ||
| Q2 24 | -18.9% | 15.1% | ||
| Q1 24 | -38.5% | 5.6% |
| Q4 25 | $-0.40 | $0.11 | ||
| Q3 25 | $1.67 | $0.05 | ||
| Q2 25 | $-0.33 | $0.04 | ||
| Q1 25 | $-0.74 | $0.05 | ||
| Q4 24 | $-0.30 | $0.07 | ||
| Q3 24 | $-0.46 | $0.08 | ||
| Q2 24 | $-0.30 | $0.10 | ||
| Q1 24 | $-0.54 | $0.03 |
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 | $132.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | — |
| 总资产 | $1.1B | $4.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $466.2M | $132.7M | ||
| Q3 25 | $479.2M | $154.1M | ||
| Q2 25 | $370.0M | $94.6M | ||
| Q1 25 | $358.4M | $187.8M | ||
| Q4 24 | $411.3M | $385.5M | ||
| Q3 24 | $396.9M | $421.9M | ||
| Q2 24 | $360.1M | $535.5M | ||
| Q1 24 | $325.9M | $333.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
| Q4 25 | $370.1M | — | ||
| Q3 25 | $401.2M | — | ||
| Q2 25 | $156.3M | — | ||
| Q1 25 | $164.2M | — | ||
| Q4 24 | $228.5M | — | ||
| Q3 24 | $237.1M | — | ||
| Q2 24 | $264.3M | — | ||
| Q1 24 | $266.7M | — |
| Q4 25 | $1.1B | $4.5B | ||
| Q3 25 | $1.1B | $4.1B | ||
| Q2 25 | $821.4M | $4.1B | ||
| Q1 25 | $807.3M | $4.1B | ||
| Q4 24 | $885.1M | $4.5B | ||
| Q3 24 | $901.9M | $4.4B | ||
| Q2 24 | $904.5M | $4.4B | ||
| Q1 24 | $831.9M | $4.2B |
| 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 | $249.1M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $50.6M |
| 自由现金流率自由现金流/营收 | -7.1% | 25.4% |
| 资本支出强度资本支出/营收 | 0.1% | 99.6% |
| 现金转化率经营现金流/净利润 | — | 7.74× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $109.3M |
8季度趋势，按日历期对齐
| Q4 25 | $-14.2M | $249.1M | ||
| Q3 25 | $108.5M | $105.3M | ||
| Q2 25 | $4.4M | $26.7M | ||
| Q1 25 | $-53.4M | $83.1M | ||
| Q4 24 | $19.4M | $260.9M | ||
| Q3 24 | $34.1M | $102.8M | ||
| Q2 24 | $-8.3M | $37.1M | ||
| Q1 24 | $-133.0M | $70.9M |
| Q4 25 | $-14.3M | $50.6M | ||
| Q3 25 | $108.3M | $72.8M | ||
| Q2 25 | $4.4M | $-55.1M | ||
| Q1 25 | $-53.4M | $41.1M | ||
| Q4 24 | $19.3M | $88.0M | ||
| Q3 24 | — | $-65.1M | ||
| Q2 24 | $-8.4M | $19.5M | ||
| Q1 24 | $-133.3M | $23.2M |
| Q4 25 | -7.1% | 25.4% | ||
| Q3 25 | 23.6% | 36.8% | ||
| Q2 25 | 2.5% | -28.8% | ||
| Q1 25 | -32.0% | 22.8% | ||
| Q4 24 | 9.1% | 44.5% | ||
| Q3 24 | — | -32.6% | ||
| Q2 24 | -4.2% | 10.3% | ||
| Q1 24 | -77.3% | 12.8% |
| Q4 25 | 0.1% | 99.6% | ||
| Q3 25 | 0.0% | 16.5% | ||
| Q2 25 | 0.0% | 42.8% | ||
| Q1 25 | 0.0% | 23.4% | ||
| Q4 24 | 0.0% | 87.5% | ||
| Q3 24 | 0.0% | 84.1% | ||
| Q2 24 | 0.0% | 9.3% | ||
| Q1 24 | 0.2% | 26.3% |
| Q4 25 | — | 7.74× | ||
| Q3 25 | 0.50× | 7.72× | ||
| Q2 25 | — | 2.35× | ||
| Q1 25 | — | 5.27× | ||
| Q4 24 | — | 13.88× | ||
| Q3 24 | — | 4.51× | ||
| Q2 24 | — | 1.30× | ||
| Q1 24 | — | 6.94× |
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% |
ESBA
| Real Estate Segment | $163.8M | 82% |
| Observatory Segment | $35.2M | 18% |
