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Apellis Pharmaceuticals, Inc.（APLS）与EXPONENT INC（EXPO）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EXPONENT INC的1.4倍（$199.9M vs $147.4M），EXPONENT INC净利率更高（16.8% vs -29.5%，领先46.3%），EXPONENT INC同比增速更快（7.8% vs -5.9%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 0.9%）
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。
Exponent Inc.是美国知名工程与科学咨询企业，汇集科学家、医师、工程师及商业咨询专家，可在90余个技术领域开展研究与分析工作，目前在美国本土设有20个办事处，境外另有5个办事网点。
APLS vs EXPO — 直观对比
营收规模更大
APLS
是对方的1.4倍
$147.4M
营收增速更快
EXPO
高出13.7%
-5.9%
净利率更高
EXPO
高出46.3%
-29.5%
两年增速更快
APLS
近两年复合增速
0.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $147.4M |
| 净利润 | $-59.0M | $24.8M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 19.8% |
| 净利率 | -29.5% | 16.8% |
| 营收同比 | -5.9% | 7.8% |
| 净利润同比 | -62.2% | 5.0% |
| 每股收益（稀释后） | $-0.40 | $0.49 |
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APLSEXPO
| Q4 25 | $199.9M | $147.1M | ||
| Q3 25 | $458.6M | $142.0M | ||
| Q2 25 | $178.5M | $145.5M | ||
| Q1 25 | $166.8M | $136.8M | ||
| Q4 24 | $212.5M | — | ||
| Q3 24 | $196.8M | $136.3M | ||
| Q2 24 | $199.7M | $140.5M | ||
| Q1 24 | $172.3M | $144.9M |
净利润APLSEXPO
| Q4 25 | $-59.0M | $28.0M | ||
| Q3 25 | $215.7M | $26.6M | ||
| Q2 25 | $-42.2M | $26.6M | ||
| Q1 25 | $-92.2M | $23.6M | ||
| Q4 24 | $-36.4M | — | ||
| Q3 24 | $-57.4M | $26.0M | ||
| Q2 24 | $-37.7M | $29.2M | ||
| Q1 24 | $-66.4M | $30.1M |
营业利润率APLSEXPO
| Q4 25 | -25.6% | 19.7% | ||
| Q3 25 | 48.7% | 12.1% | ||
| Q2 25 | -18.6% | 30.5% | ||
| Q1 25 | -50.0% | 19.9% | ||
| Q4 24 | -12.3% | — | ||
| Q3 24 | -24.0% | 19.0% | ||
| Q2 24 | -14.7% | 25.4% | ||
| Q1 24 | -36.0% | 21.2% |
净利率APLSEXPO
| Q4 25 | -29.5% | 19.1% | ||
| Q3 25 | 47.0% | 18.7% | ||
| Q2 25 | -23.6% | 18.3% | ||
| Q1 25 | -55.3% | 17.2% | ||
| Q4 24 | -17.1% | — | ||
| Q3 24 | -29.2% | 19.1% | ||
| Q2 24 | -18.9% | 20.8% | ||
| Q1 24 | -38.5% | 20.8% |
每股收益（稀释后）APLSEXPO
| Q4 25 | $-0.40 | $0.55 | ||
| Q3 25 | $1.67 | $0.52 | ||
| Q2 25 | $-0.33 | $0.52 | ||
| Q1 25 | $-0.74 | $0.45 | ||
| Q4 24 | $-0.30 | — | ||
| Q3 24 | $-0.46 | $0.50 | ||
| Q2 24 | $-0.30 | $0.57 | ||
| Q1 24 | $-0.54 | $0.59 |
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 | $221.9M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $390.3M |
| 总资产 | $1.1B | $777.5M |
| 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APLSEXPO
| Q4 25 | $466.2M | $207.4M | ||
| Q3 25 | $479.2M | $231.8M | ||
| Q2 25 | $370.0M | $245.1M | ||
| Q1 25 | $358.4M | $258.9M | ||
| Q4 24 | $411.3M | — | ||
| Q3 24 | $396.9M | $219.7M | ||
| Q2 24 | $360.1M | $203.3M | ||
| Q1 24 | $325.9M | $168.7M |
总债务APLSEXPO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSEXPO
| Q4 25 | $370.1M | $402.9M | ||
| Q3 25 | $401.2M | $427.8M | ||
| Q2 25 | $156.3M | $441.4M | ||
| Q1 25 | $164.2M | $421.1M | ||
| Q4 24 | $228.5M | — | ||
| Q3 24 | $237.1M | $410.3M | ||
| Q2 24 | $264.3M | $393.2M | ||
| Q1 24 | $266.7M | $374.3M |
总资产APLSEXPO
| Q4 25 | $1.1B | $761.4M | ||
| Q3 25 | $1.1B | $759.4M | ||
| Q2 25 | $821.4M | $763.2M | ||
| Q1 25 | $807.3M | $777.3M | ||
| Q4 24 | $885.1M | — | ||
| Q3 24 | $901.9M | $744.1M | ||
| Q2 24 | $904.5M | $709.2M | ||
| Q1 24 | $831.9M | $629.4M |
负债/权益比APLSEXPO
| 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 | — |
| 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APLSEXPO
| Q4 25 | $-14.2M | $32.7M | ||
| Q3 25 | $108.5M | $36.2M | ||
| Q2 25 | $4.4M | $7.3M | ||
| Q1 25 | $-53.4M | $56.1M | ||
| Q4 24 | $19.4M | — | ||
| Q3 24 | $34.1M | $29.7M | ||
| Q2 24 | $-8.3M | $48.3M | ||
| Q1 24 | $-133.0M | $10.4M |
自由现金流APLSEXPO
| Q4 25 | $-14.3M | $30.0M | ||
| Q3 25 | $108.3M | $33.9M | ||
| Q2 25 | $4.4M | $5.5M | ||
| Q1 25 | $-53.4M | $53.5M | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | — | $28.0M | ||
| Q2 24 | $-8.4M | $47.2M | ||
| Q1 24 | $-133.3M | $8.9M |
自由现金流率APLSEXPO
| Q4 25 | -7.1% | 20.4% | ||
| Q3 25 | 23.6% | 23.9% | ||
| Q2 25 | 2.5% | 3.8% | ||
| Q1 25 | -32.0% | 39.1% | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | — | 20.5% | ||
| Q2 24 | -4.2% | 33.6% | ||
| Q1 24 | -77.3% | 6.2% |
资本支出强度APLSEXPO
| Q4 25 | 0.1% | 1.8% | ||
| Q3 25 | 0.0% | 1.6% | ||
| Q2 25 | 0.0% | 1.2% | ||
| Q1 25 | 0.0% | 1.9% | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | 1.3% | ||
| Q2 24 | 0.0% | 0.8% | ||
| Q1 24 | 0.2% | 1.0% |
现金转化率APLSEXPO
| Q4 25 | — | 1.16× | ||
| Q3 25 | 0.50× | 1.36× | ||
| Q2 25 | — | 0.27× | ||
| Q1 25 | — | 2.38× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.14× | ||
| Q2 24 | — | 1.65× | ||
| Q1 24 | — | 0.35× |
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% |
EXPO
| Revenues before reimbursements | $129.4M | 88% |
| Reimbursements | $18.0M | 12% |
