vs
Apellis Pharmaceuticals, Inc.（APLS）与Freshpet, Inc.（FRPT）财务数据对比。点击上方公司名可切换其他公司
Freshpet, Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.4倍（$285.2M vs $199.9M），Freshpet, Inc.净利率更高（11.9% vs -29.5%，领先41.3%），Freshpet, Inc.同比增速更快（8.6% vs -5.9%），Freshpet, Inc.自由现金流更多（$2.1M vs $-14.3M），过去两年Freshpet, Inc.的营收复合增速更高（12.9% 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。
Freshpet, Inc.是一家美国宠物食品企业，主打鲜制猫粮、狗粮产品，相关产品需冷藏保存，目前在纳斯达克上市，股票代码为FRPT。
APLS vs FRPT — 直观对比
营收规模更大
FRPT
是对方的1.4倍
$199.9M
营收增速更快
FRPT
高出14.5%
-5.9%
净利率更高
FRPT
高出41.3%
-29.5%
自由现金流更多
FRPT
多$16.3M
$-14.3M
两年增速更快
FRPT
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $285.2M |
| 净利润 | $-59.0M | $33.8M |
| 毛利率 | — | 43.3% |
| 营业利润率 | -25.6% | 15.6% |
| 净利率 | -29.5% | 11.9% |
| 营收同比 | -5.9% | 8.6% |
| 净利润同比 | -62.2% | 86.6% |
| 每股收益（稀释后） | $-0.40 | $0.71 |
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APLSFRPT
| Q4 25 | $199.9M | $285.2M | ||
| Q3 25 | $458.6M | $288.8M | ||
| Q2 25 | $178.5M | $264.7M | ||
| Q1 25 | $166.8M | $263.2M | ||
| Q4 24 | $212.5M | $262.7M | ||
| Q3 24 | $196.8M | $253.4M | ||
| Q2 24 | $199.7M | $235.3M | ||
| Q1 24 | $172.3M | $223.8M |
净利润APLSFRPT
| Q4 25 | $-59.0M | $33.8M | ||
| Q3 25 | $215.7M | $101.7M | ||
| Q2 25 | $-42.2M | $16.4M | ||
| Q1 25 | $-92.2M | $-12.7M | ||
| Q4 24 | $-36.4M | $18.1M | ||
| Q3 24 | $-57.4M | $11.9M | ||
| Q2 24 | $-37.7M | $-1.7M | ||
| Q1 24 | $-66.4M | $18.6M |
毛利率APLSFRPT
| Q4 25 | — | 43.3% | ||
| Q3 25 | — | 39.5% | ||
| Q2 25 | — | 40.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 42.5% | ||
| Q3 24 | — | 40.4% | ||
| Q2 24 | — | 39.9% | ||
| Q1 24 | — | 39.4% |
营业利润率APLSFRPT
| Q4 25 | -25.6% | 15.6% | ||
| Q3 25 | 48.7% | 8.6% | ||
| Q2 25 | -18.6% | 6.7% | ||
| Q1 25 | -50.0% | -4.4% | ||
| Q4 24 | -12.3% | 7.4% | ||
| Q3 24 | -24.0% | 4.7% | ||
| Q2 24 | -14.7% | -0.7% | ||
| Q1 24 | -36.0% | 3.8% |
净利率APLSFRPT
| Q4 25 | -29.5% | 11.9% | ||
| Q3 25 | 47.0% | 35.2% | ||
| Q2 25 | -23.6% | 6.2% | ||
| Q1 25 | -55.3% | -4.8% | ||
| Q4 24 | -17.1% | 6.9% | ||
| Q3 24 | -29.2% | 4.7% | ||
| Q2 24 | -18.9% | -0.7% | ||
| Q1 24 | -38.5% | 8.3% |
每股收益（稀释后）APLSFRPT
| Q4 25 | $-0.40 | $0.71 | ||
| Q3 25 | $1.67 | $1.86 | ||
| Q2 25 | $-0.33 | $0.33 | ||
| Q1 25 | $-0.74 | $-0.26 | ||
| Q4 24 | $-0.30 | $0.35 | ||
| Q3 24 | $-0.46 | $0.24 | ||
| Q2 24 | $-0.30 | $-0.03 | ||
| Q1 24 | $-0.54 | $0.37 |
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 | $278.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.2B |
| 总资产 | $1.1B | $1.8B |
| 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APLSFRPT
| Q4 25 | $466.2M | $278.0M | ||
| Q3 25 | $479.2M | $274.6M | ||
| Q2 25 | $370.0M | $243.7M | ||
| Q1 25 | $358.4M | $243.7M | ||
| Q4 24 | $411.3M | $268.6M | ||
| Q3 24 | $396.9M | $274.6M | ||
| Q2 24 | $360.1M | $251.7M | ||
| Q1 24 | $325.9M | $257.9M |
总债务APLSFRPT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSFRPT
| Q4 25 | $370.1M | $1.2B | ||
| Q3 25 | $401.2M | $1.2B | ||
| Q2 25 | $156.3M | $1.1B | ||
| Q1 25 | $164.2M | $1.0B | ||
| Q4 24 | $228.5M | $1.1B | ||
| Q3 24 | $237.1M | $1.0B | ||
| Q2 24 | $264.3M | $995.8M | ||
| Q1 24 | $266.7M | $977.8M |
总资产APLSFRPT
| Q4 25 | $1.1B | $1.8B | ||
| Q3 25 | $1.1B | $1.7B | ||
| Q2 25 | $821.4M | $1.6B | ||
| Q1 25 | $807.3M | $1.6B | ||
| Q4 24 | $885.1M | $1.6B | ||
| Q3 24 | $901.9M | $1.5B | ||
| Q2 24 | $904.5M | $1.5B | ||
| Q1 24 | $831.9M | $1.5B |
负债/权益比APLSFRPT
| 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 | $55.1M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $2.1M |
| 自由现金流率自由现金流/营收 | -7.1% | 0.7% |
| 资本支出强度资本支出/营收 | 0.1% | 18.6% |
| 现金转化率经营现金流/净利润 | — | 1.63× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $12.4M |
8季度趋势，按日历期对齐
经营现金流APLSFRPT
| Q4 25 | $-14.2M | $55.1M | ||
| Q3 25 | $108.5M | $66.8M | ||
| Q2 25 | $4.4M | $33.9M | ||
| Q1 25 | $-53.4M | $4.8M | ||
| Q4 24 | $19.4M | $50.4M | ||
| Q3 24 | $34.1M | $56.1M | ||
| Q2 24 | $-8.3M | $42.4M | ||
| Q1 24 | $-133.0M | $5.4M |
自由现金流APLSFRPT
| Q4 25 | $-14.3M | $2.1M | ||
| Q3 25 | $108.3M | $31.6M | ||
| Q2 25 | $4.4M | $445.0K | ||
| Q1 25 | $-53.4M | $-21.7M | ||
| Q4 24 | $19.3M | $-7.9M | ||
| Q3 24 | — | $22.1M | ||
| Q2 24 | $-8.4M | $-5.9M | ||
| Q1 24 | $-133.3M | $-41.1M |
自由现金流率APLSFRPT
| Q4 25 | -7.1% | 0.7% | ||
| Q3 25 | 23.6% | 10.9% | ||
| Q2 25 | 2.5% | 0.2% | ||
| Q1 25 | -32.0% | -8.2% | ||
| Q4 24 | 9.1% | -3.0% | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | -4.2% | -2.5% | ||
| Q1 24 | -77.3% | -18.3% |
资本支出强度APLSFRPT
| Q4 25 | 0.1% | 18.6% | ||
| Q3 25 | 0.0% | 12.2% | ||
| Q2 25 | 0.0% | 12.6% | ||
| Q1 25 | 0.0% | 10.1% | ||
| Q4 24 | 0.0% | 22.2% | ||
| Q3 24 | 0.0% | 13.4% | ||
| Q2 24 | 0.0% | 20.5% | ||
| Q1 24 | 0.2% | 20.8% |
现金转化率APLSFRPT
| Q4 25 | — | 1.63× | ||
| Q3 25 | 0.50× | 0.66× | ||
| Q2 25 | — | 2.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.78× | ||
| Q3 24 | — | 4.72× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.29× |
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% |
FRPT
| Sales Channel Grocery Mass International And Digital | $228.4M | 80% |
| Sales Channel Pet Specialty And Club | $56.8M | 20% |
