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Apellis Pharmaceuticals, Inc.（APLS）与Funko, Inc.（FNKO）财务数据对比。点击上方公司名可切换其他公司
Funko, Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.4倍（$273.1M vs $199.9M），Funko, Inc.净利率更高（-0.1% vs -29.5%，领先29.4%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -7.0%），Funko, Inc.自由现金流更多（$19.2M vs $-14.3M），过去两年Funko, Inc.的营收复合增速更高（12.5% 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。
Funko是一家美国知名流行文化周边收藏品牌，主打获得IP授权的限量收藏商品，以 vinyl 搪胶收藏人偶和摇头公仔闻名，同时也生产授权毛绒玩具、可动玩偶、服饰、配件及周边桌游。该品牌由迈克·贝克尔与克劳迪娅·贝克尔于1998年创立，最初只是主打复古怀旧风的小型手工玩具项目。
APLS vs FNKO — 直观对比
营收规模更大
FNKO
是对方的1.4倍
$199.9M
营收增速更快
APLS
高出1.1%
-7.0%
净利率更高
FNKO
高出29.4%
-29.5%
自由现金流更多
FNKO
多$33.5M
$-14.3M
两年增速更快
FNKO
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $273.1M |
| 净利润 | $-59.0M | $-183.0K |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 2.2% |
| 净利率 | -29.5% | -0.1% |
| 营收同比 | -5.9% | -7.0% |
| 净利润同比 | -62.2% | 87.8% |
| 每股收益（稀释后） | $-0.40 | $0.00 |
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APLSFNKO
| Q4 25 | $199.9M | $273.1M | ||
| Q3 25 | $458.6M | $250.9M | ||
| Q2 25 | $178.5M | $193.5M | ||
| Q1 25 | $166.8M | $190.7M | ||
| Q4 24 | $212.5M | $293.7M | ||
| Q3 24 | $196.8M | $292.8M | ||
| Q2 24 | $199.7M | $247.7M | ||
| Q1 24 | $172.3M | $215.7M |
净利润APLSFNKO
| Q4 25 | $-59.0M | $-183.0K | ||
| Q3 25 | $215.7M | $901.0K | ||
| Q2 25 | $-42.2M | $-40.5M | ||
| Q1 25 | $-92.2M | $-27.6M | ||
| Q4 24 | $-36.4M | $-1.5M | ||
| Q3 24 | $-57.4M | $4.3M | ||
| Q2 24 | $-37.7M | $5.1M | ||
| Q1 24 | $-66.4M | $-22.7M |
毛利率APLSFNKO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 40.9% | ||
| Q2 24 | — | 42.0% | ||
| Q1 24 | — | 40.0% |
营业利润率APLSFNKO
| Q4 25 | -25.6% | 2.2% | ||
| Q3 25 | 48.7% | 2.6% | ||
| Q2 25 | -18.6% | -18.0% | ||
| Q1 25 | -50.0% | -12.2% | ||
| Q4 24 | -12.3% | 1.8% | ||
| Q3 24 | -24.0% | 4.0% | ||
| Q2 24 | -14.7% | 4.3% | ||
| Q1 24 | -36.0% | -6.9% |
净利率APLSFNKO
| Q4 25 | -29.5% | -0.1% | ||
| Q3 25 | 47.0% | 0.4% | ||
| Q2 25 | -23.6% | -20.9% | ||
| Q1 25 | -55.3% | -14.5% | ||
| Q4 24 | -17.1% | -0.5% | ||
| Q3 24 | -29.2% | 1.5% | ||
| Q2 24 | -18.9% | 2.1% | ||
| Q1 24 | -38.5% | -10.5% |
每股收益（稀释后）APLSFNKO
| Q4 25 | $-0.40 | $0.00 | ||
| Q3 25 | $1.67 | $0.02 | ||
| Q2 25 | $-0.33 | $-0.74 | ||
| Q1 25 | $-0.74 | $-0.52 | ||
| Q4 24 | $-0.30 | $-0.01 | ||
| Q3 24 | $-0.46 | $0.08 | ||
| Q2 24 | $-0.30 | $0.10 | ||
| Q1 24 | $-0.54 | $-0.45 |
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 | $42.1M |
| 总债务越低越好 | — | $100.3M |
| 股东权益账面价值 | $370.1M | $185.8M |
| 总资产 | $1.1B | $685.2M |
| 负债/权益比越低杠杆越低 | — | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资APLSFNKO
| Q4 25 | $466.2M | $42.1M | ||
| Q3 25 | $479.2M | $39.2M | ||
| Q2 25 | $370.0M | $49.2M | ||
| Q1 25 | $358.4M | $25.9M | ||
| Q4 24 | $411.3M | $34.7M | ||
| Q3 24 | $396.9M | $28.5M | ||
| Q2 24 | $360.1M | $41.6M | ||
| Q1 24 | $325.9M | $26.1M |
总债务APLSFNKO
| Q4 25 | — | $100.3M | ||
| Q3 25 | — | $106.0M | ||
| Q2 25 | — | $111.6M | ||
| Q1 25 | — | $117.2M | ||
| Q4 24 | — | $122.8M | ||
| Q3 24 | — | $128.4M | ||
| Q2 24 | — | $133.9M | ||
| Q1 24 | $93.1M | $139.4M |
股东权益APLSFNKO
| Q4 25 | $370.1M | $185.8M | ||
| Q3 25 | $401.2M | $182.7M | ||
| Q2 25 | $156.3M | $181.2M | ||
| Q1 25 | $164.2M | $212.8M | ||
| Q4 24 | $228.5M | $233.0M | ||
| Q3 24 | $237.1M | $236.5M | ||
| Q2 24 | $264.3M | $223.5M | ||
| Q1 24 | $266.7M | $212.5M |
总资产APLSFNKO
| Q4 25 | $1.1B | $685.2M | ||
| Q3 25 | $1.1B | $699.3M | ||
| Q2 25 | $821.4M | $694.9M | ||
| Q1 25 | $807.3M | $648.4M | ||
| Q4 24 | $885.1M | $707.3M | ||
| Q3 24 | $901.9M | $783.6M | ||
| Q2 24 | $904.5M | $737.8M | ||
| Q1 24 | $831.9M | $725.5M |
负债/权益比APLSFNKO
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | 0.58× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | 0.53× | ||
| Q3 24 | — | 0.54× | ||
| Q2 24 | — | 0.60× | ||
| Q1 24 | 0.35× | 0.66× |
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 | $28.1M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $19.2M |
| 自由现金流率自由现金流/营收 | -7.1% | 7.0% |
| 资本支出强度资本支出/营收 | 0.1% | 3.3% |
| 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 | $-38.1M |
8季度趋势，按日历期对齐
经营现金流APLSFNKO
| Q4 25 | $-14.2M | $28.1M | ||
| Q3 25 | $108.5M | $11.2M | ||
| Q2 25 | $4.4M | $-22.2M | ||
| Q1 25 | $-53.4M | $-22.3M | ||
| Q4 24 | $19.4M | $59.8M | ||
| Q3 24 | $34.1M | $3.3M | ||
| Q2 24 | $-8.3M | $45.9M | ||
| Q1 24 | $-133.0M | $14.5M |
自由现金流APLSFNKO
| Q4 25 | $-14.3M | $19.2M | ||
| Q3 25 | $108.3M | $3.4M | ||
| Q2 25 | $4.4M | $-31.8M | ||
| Q1 25 | $-53.4M | $-28.8M | ||
| Q4 24 | $19.3M | $47.8M | ||
| Q3 24 | — | $-4.2M | ||
| Q2 24 | $-8.4M | $36.8M | ||
| Q1 24 | $-133.3M | $10.3M |
自由现金流率APLSFNKO
| Q4 25 | -7.1% | 7.0% | ||
| Q3 25 | 23.6% | 1.3% | ||
| Q2 25 | 2.5% | -16.5% | ||
| Q1 25 | -32.0% | -15.1% | ||
| Q4 24 | 9.1% | 16.3% | ||
| Q3 24 | — | -1.4% | ||
| Q2 24 | -4.2% | 14.9% | ||
| Q1 24 | -77.3% | 4.8% |
资本支出强度APLSFNKO
| Q4 25 | 0.1% | 3.3% | ||
| Q3 25 | 0.0% | 3.1% | ||
| Q2 25 | 0.0% | 5.0% | ||
| Q1 25 | 0.0% | 3.4% | ||
| Q4 24 | 0.0% | 4.1% | ||
| Q3 24 | 0.0% | 2.6% | ||
| Q2 24 | 0.0% | 3.7% | ||
| Q1 24 | 0.2% | 1.9% |
现金转化率APLSFNKO
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | 12.47× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.77× | ||
| Q2 24 | — | 8.97× | ||
| 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% |
FNKO
| Core Collectibles | $221.0M | 81% |
| Loungefly LLC | $43.1M | 16% |
| Other Products Excluding Core Collectibles And Loungefly Brands | $9.0M | 3% |
