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Apellis Pharmaceuticals, Inc.（APLS）与飞汇（FLYW）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是飞汇的1.3倍（$199.9M vs $157.5M），飞汇净利率更高（0.0% vs -29.5%，领先29.5%），飞汇同比增速更快（34.0% vs -5.9%），飞汇自由现金流更多（$4.5M vs $-14.3M），过去两年飞汇的营收复合增速更高（17.5% 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。
Flywire Corp（飞汇）是一家全球支付解决方案提供商，核心服务覆盖教育、医疗、旅游及B2B商务领域，提供安全跨境支付处理、货币兑换及支付流程优化工具，为全球多国的机构与付款人简化交易流程。
APLS vs FLYW — 直观对比
营收规模更大
APLS
是对方的1.3倍
$157.5M
营收增速更快
FLYW
高出40.0%
-5.9%
净利率更高
FLYW
高出29.5%
-29.5%
自由现金流更多
FLYW
多$18.8M
$-14.3M
两年增速更快
FLYW
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $157.5M |
| 净利润 | $-59.0M | $33.0K |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | -0.6% |
| 净利率 | -29.5% | 0.0% |
| 营收同比 | -5.9% | 34.0% |
| 净利润同比 | -62.2% | 100.2% |
| 每股收益（稀释后） | $-0.40 | $0.01 |
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APLSFLYW
| Q4 25 | $199.9M | $157.5M | ||
| Q3 25 | $458.6M | $200.1M | ||
| Q2 25 | $178.5M | $131.9M | ||
| Q1 25 | $166.8M | $133.5M | ||
| Q4 24 | $212.5M | $117.5M | ||
| Q3 24 | $196.8M | $156.8M | ||
| Q2 24 | $199.7M | $103.7M | ||
| Q1 24 | $172.3M | $114.1M |
净利润APLSFLYW
| Q4 25 | $-59.0M | $33.0K | ||
| Q3 25 | $215.7M | $29.6M | ||
| Q2 25 | $-42.2M | $-12.0M | ||
| Q1 25 | $-92.2M | $-4.2M | ||
| Q4 24 | $-36.4M | $-15.9M | ||
| Q3 24 | $-57.4M | $38.9M | ||
| Q2 24 | $-37.7M | $-13.9M | ||
| Q1 24 | $-66.4M | $-6.2M |
营业利润率APLSFLYW
| Q4 25 | -25.6% | -0.6% | ||
| Q3 25 | 48.7% | 16.1% | ||
| Q2 25 | -18.6% | -6.8% | ||
| Q1 25 | -50.0% | -8.2% | ||
| Q4 24 | -12.3% | -4.9% | ||
| Q3 24 | -24.0% | 12.9% | ||
| Q2 24 | -14.7% | -15.2% | ||
| Q1 24 | -36.0% | -5.2% |
净利率APLSFLYW
| Q4 25 | -29.5% | 0.0% | ||
| Q3 25 | 47.0% | 14.8% | ||
| Q2 25 | -23.6% | -9.1% | ||
| Q1 25 | -55.3% | -3.1% | ||
| Q4 24 | -17.1% | -13.5% | ||
| Q3 24 | -29.2% | 24.8% | ||
| Q2 24 | -18.9% | -13.4% | ||
| Q1 24 | -38.5% | -5.4% |
每股收益（稀释后）APLSFLYW
| Q4 25 | $-0.40 | $0.01 | ||
| Q3 25 | $1.67 | $0.23 | ||
| Q2 25 | $-0.33 | $-0.10 | ||
| Q1 25 | $-0.74 | $-0.03 | ||
| Q4 24 | $-0.30 | $-0.12 | ||
| Q3 24 | $-0.46 | $0.30 | ||
| Q2 24 | $-0.30 | $-0.11 | ||
| Q1 24 | $-0.54 | $-0.05 |
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 | $355.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $835.2M |
| 总资产 | $1.1B | $1.3B |
| 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APLSFLYW
| Q4 25 | $466.2M | $355.0M | ||
| Q3 25 | $479.2M | $377.3M | ||
| Q2 25 | $370.0M | $274.2M | ||
| Q1 25 | $358.4M | $255.3M | ||
| Q4 24 | $411.3M | $611.1M | ||
| Q3 24 | $396.9M | $681.1M | ||
| Q2 24 | $360.1M | $571.0M | ||
| Q1 24 | $325.9M | $619.0M |
总债务APLSFLYW
| Q4 25 | — | — | ||
| Q3 25 | — | $15.0M | ||
| Q2 25 | — | $60.0M | ||
| Q1 25 | — | $60.0M | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSFLYW
| Q4 25 | $370.1M | $835.2M | ||
| Q3 25 | $401.2M | $829.1M | ||
| Q2 25 | $156.3M | $792.4M | ||
| Q1 25 | $164.2M | $784.3M | ||
| Q4 24 | $228.5M | $814.8M | ||
| Q3 24 | $237.1M | $843.2M | ||
| Q2 24 | $264.3M | $802.6M | ||
| Q1 24 | $266.7M | $-797.0M |
总资产APLSFLYW
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $821.4M | $1.1B | ||
| Q1 25 | $807.3M | $1.1B | ||
| Q4 24 | $885.1M | $1.1B | ||
| Q3 24 | $901.9M | $1.2B | ||
| Q2 24 | $904.5M | $998.7M | ||
| Q1 24 | $831.9M | $998.7M |
负债/权益比APLSFLYW
| Q4 25 | — | — | ||
| Q3 25 | — | 0.02× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.08× | ||
| Q4 24 | — | 0.00× | ||
| 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 | $4.9M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $4.5M |
| 自由现金流率自由现金流/营收 | -7.1% | 2.9% |
| 资本支出强度资本支出/营收 | 0.1% | 0.2% |
| 现金转化率经营现金流/净利润 | — | 148.06× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $98.8M |
8季度趋势，按日历期对齐
经营现金流APLSFLYW
| Q4 25 | $-14.2M | $4.9M | ||
| Q3 25 | $108.5M | $150.1M | ||
| Q2 25 | $4.4M | $24.1M | ||
| Q1 25 | $-53.4M | $-78.9M | ||
| Q4 24 | $19.4M | $-28.6M | ||
| Q3 24 | $34.1M | $184.6M | ||
| Q2 24 | $-8.3M | $-19.3M | ||
| Q1 24 | $-133.0M | $-38.1M |
自由现金流APLSFLYW
| Q4 25 | $-14.3M | $4.5M | ||
| Q3 25 | $108.3M | $149.9M | ||
| Q2 25 | $4.4M | $23.5M | ||
| Q1 25 | $-53.4M | $-79.1M | ||
| Q4 24 | $19.3M | $-28.7M | ||
| Q3 24 | — | $184.4M | ||
| Q2 24 | $-8.4M | $-19.7M | ||
| Q1 24 | $-133.3M | $-38.3M |
自由现金流率APLSFLYW
| Q4 25 | -7.1% | 2.9% | ||
| Q3 25 | 23.6% | 74.9% | ||
| Q2 25 | 2.5% | 17.8% | ||
| Q1 25 | -32.0% | -59.3% | ||
| Q4 24 | 9.1% | -24.4% | ||
| Q3 24 | — | 117.6% | ||
| Q2 24 | -4.2% | -19.0% | ||
| Q1 24 | -77.3% | -33.6% |
资本支出强度APLSFLYW
| Q4 25 | 0.1% | 0.2% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.0% | 0.4% | ||
| Q1 25 | 0.0% | 0.1% | ||
| Q4 24 | 0.0% | 0.1% | ||
| Q3 24 | 0.0% | 0.1% | ||
| Q2 24 | 0.0% | 0.3% | ||
| Q1 24 | 0.2% | 0.2% |
现金转化率APLSFLYW
| Q4 25 | — | 148.06× | ||
| Q3 25 | 0.50× | 5.07× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 4.75× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
