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Apellis Pharmaceuticals, Inc.（APLS）与FIRST HAWAIIAN, INC.（FHB）财务数据对比。点击上方公司名可切换其他公司
FIRST HAWAIIAN, INC.的季度营收约是Apellis Pharmaceuticals, Inc.的1.1倍（$220.3M vs $199.9M），FIRST HAWAIIAN, INC.净利率更高（30.8% vs -29.5%，领先60.3%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 3.8%）
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。
第一夏威夷公司是总部位于夏威夷檀香山的银行控股企业，核心子公司第一夏威夷银行成立于1858年，是夏威夷历史最悠久、规模最大的金融机构，总部设在檀香山第一夏威夷中心。该行在夏威夷设有57家分支机构，关岛有3家，塞班岛有1家，为个人及商业客户提供存款、贷款、财富管理、保险、私人银行等多元金融服务。
APLS vs FHB — 直观对比
营收规模更大
FHB
是对方的1.1倍
$199.9M
净利率更高
FHB
高出60.3%
-29.5%
两年增速更快
APLS
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $220.3M |
| 净利润 | $-59.0M | $67.8M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | — |
| 净利率 | -29.5% | 30.8% |
| 营收同比 | -5.9% | — |
| 净利润同比 | -62.2% | 14.4% |
| 每股收益（稀释后） | $-0.40 | $0.55 |
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APLSFHB
| Q1 26 | — | $220.3M | ||
| Q4 25 | $199.9M | $225.9M | ||
| Q3 25 | $458.6M | $226.4M | ||
| Q2 25 | $178.5M | $217.5M | ||
| Q1 25 | $166.8M | $211.0M | ||
| Q4 24 | $212.5M | $188.1M | ||
| Q3 24 | $196.8M | $210.0M | ||
| Q2 24 | $199.7M | $204.6M |
净利润APLSFHB
| Q1 26 | — | $67.8M | ||
| Q4 25 | $-59.0M | $69.9M | ||
| Q3 25 | $215.7M | $73.8M | ||
| Q2 25 | $-42.2M | $73.2M | ||
| Q1 25 | $-92.2M | $59.2M | ||
| Q4 24 | $-36.4M | $52.5M | ||
| Q3 24 | $-57.4M | $61.5M | ||
| Q2 24 | $-37.7M | $61.9M |
营业利润率APLSFHB
| Q1 26 | — | — | ||
| Q4 25 | -25.6% | 41.2% | ||
| Q3 25 | 48.7% | 42.5% | ||
| Q2 25 | -18.6% | 40.5% | ||
| Q1 25 | -50.0% | 36.5% | ||
| Q4 24 | -12.3% | 34.4% | ||
| Q3 24 | -24.0% | 36.4% | ||
| Q2 24 | -14.7% | 39.5% |
净利率APLSFHB
| Q1 26 | — | 30.8% | ||
| Q4 25 | -29.5% | 31.0% | ||
| Q3 25 | 47.0% | 32.6% | ||
| Q2 25 | -23.6% | 33.7% | ||
| Q1 25 | -55.3% | 28.1% | ||
| Q4 24 | -17.1% | 27.9% | ||
| Q3 24 | -29.2% | 29.3% | ||
| Q2 24 | -18.9% | 30.3% |
每股收益（稀释后）APLSFHB
| Q1 26 | — | $0.55 | ||
| Q4 25 | $-0.40 | $0.56 | ||
| Q3 25 | $1.67 | $0.59 | ||
| Q2 25 | $-0.33 | $0.58 | ||
| Q1 25 | $-0.74 | $0.47 | ||
| Q4 24 | $-0.30 | $0.41 | ||
| Q3 24 | $-0.46 | $0.48 | ||
| Q2 24 | $-0.30 | $0.48 |
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 | — | $0 |
| 股东权益账面价值 | $370.1M | $2.8B |
| 总资产 | $1.1B | $24.3B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资APLSFHB
| 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 | — |
总债务APLSFHB
| Q1 26 | — | $0 | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APLSFHB
| Q1 26 | — | $2.8B | ||
| Q4 25 | $370.1M | $2.8B | ||
| Q3 25 | $401.2M | $2.7B | ||
| Q2 25 | $156.3M | $2.7B | ||
| Q1 25 | $164.2M | $2.6B | ||
| Q4 24 | $228.5M | $2.6B | ||
| Q3 24 | $237.1M | $2.6B | ||
| Q2 24 | $264.3M | $2.6B |
总资产APLSFHB
| Q1 26 | — | $24.3B | ||
| Q4 25 | $1.1B | $24.0B | ||
| Q3 25 | $1.1B | $24.1B | ||
| Q2 25 | $821.4M | $23.8B | ||
| Q1 25 | $807.3M | $23.7B | ||
| Q4 24 | $885.1M | $23.8B | ||
| Q3 24 | $901.9M | $23.8B | ||
| Q2 24 | $904.5M | $24.0B |
负债/权益比APLSFHB
| Q1 26 | — | 0.00× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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APLSFHB
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $335.1M | ||
| Q3 25 | $108.5M | $57.1M | ||
| Q2 25 | $4.4M | $136.4M | ||
| Q1 25 | $-53.4M | $36.7M | ||
| Q4 24 | $19.4M | $317.5M | ||
| Q3 24 | $34.1M | $58.9M | ||
| Q2 24 | $-8.3M | $78.2M |
自由现金流APLSFHB
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | $303.3M | ||
| Q3 25 | $108.3M | $49.5M | ||
| Q2 25 | $4.4M | $125.2M | ||
| Q1 25 | $-53.4M | $28.6M | ||
| Q4 24 | $19.3M | $288.7M | ||
| Q3 24 | — | $52.3M | ||
| Q2 24 | $-8.4M | $72.2M |
自由现金流率APLSFHB
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | 134.3% | ||
| Q3 25 | 23.6% | 21.9% | ||
| Q2 25 | 2.5% | 57.5% | ||
| Q1 25 | -32.0% | 13.6% | ||
| Q4 24 | 9.1% | 153.5% | ||
| Q3 24 | — | 24.9% | ||
| Q2 24 | -4.2% | 35.3% |
资本支出强度APLSFHB
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 14.1% | ||
| Q3 25 | 0.0% | 3.3% | ||
| Q2 25 | 0.0% | 5.2% | ||
| Q1 25 | 0.0% | 3.8% | ||
| Q4 24 | 0.0% | 15.3% | ||
| Q3 24 | 0.0% | 3.1% | ||
| Q2 24 | 0.0% | 2.9% |
现金转化率APLSFHB
| Q1 26 | — | — | ||
| Q4 25 | — | 4.79× | ||
| Q3 25 | 0.50× | 0.77× | ||
| Q2 25 | — | 1.86× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 6.05× | ||
| Q3 24 | — | 0.96× | ||
| Q2 24 | — | 1.26× |
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% |
FHB
| Net Interest Income | $167.5M | 76% |
| Noninterest Income | $52.8M | 24% |
