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Apellis Pharmaceuticals, Inc.（APLS）与Fastly, Inc.（FSLY）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Fastly, Inc.的1.2倍（$199.9M vs $172.6M），Fastly, Inc.净利率更高（-9.0% vs -29.5%，领先20.5%），Fastly, Inc.同比增速更快（22.8% vs -5.9%），Fastly, Inc.自由现金流更多（$12.2M vs $-14.3M），过去两年Fastly, Inc.的营收复合增速更高（13.7% 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。
Fastly是总部位于美国旧金山的云计算服务商，主营内容分发网络（CDN）、图片优化、负载均衡服务，同时提供DDoS攻击防护、机器人流量治理、Web应用防火墙等云安全解决方案，助力企业提升网络访问效率与安全防护能力。
APLS vs FSLY — 直观对比
营收规模更大
APLS
是对方的1.2倍
$172.6M
营收增速更快
FSLY
高出28.7%
-5.9%
净利率更高
FSLY
高出20.5%
-29.5%
自由现金流更多
FSLY
多$26.5M
$-14.3M
两年增速更快
FSLY
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $172.6M |
| 净利润 | $-59.0M | $-15.5M |
| 毛利率 | — | 61.4% |
| 营业利润率 | -25.6% | -8.7% |
| 净利率 | -29.5% | -9.0% |
| 营收同比 | -5.9% | 22.8% |
| 净利润同比 | -62.2% | 52.9% |
| 每股收益（稀释后） | $-0.40 | $-0.10 |
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APLSFSLY
| Q4 25 | $199.9M | $172.6M | ||
| Q3 25 | $458.6M | $158.2M | ||
| Q2 25 | $178.5M | $148.7M | ||
| Q1 25 | $166.8M | $144.5M | ||
| Q4 24 | $212.5M | $140.6M | ||
| Q3 24 | $196.8M | $137.2M | ||
| Q2 24 | $199.7M | $132.4M | ||
| Q1 24 | $172.3M | $133.5M |
净利润APLSFSLY
| Q4 25 | $-59.0M | $-15.5M | ||
| Q3 25 | $215.7M | $-29.5M | ||
| Q2 25 | $-42.2M | $-37.5M | ||
| Q1 25 | $-92.2M | $-39.1M | ||
| Q4 24 | $-36.4M | $-32.9M | ||
| Q3 24 | $-57.4M | $-38.0M | ||
| Q2 24 | $-37.7M | $-43.7M | ||
| Q1 24 | $-66.4M | $-43.4M |
毛利率APLSFSLY
| Q4 25 | — | 61.4% | ||
| Q3 25 | — | 58.4% | ||
| Q2 25 | — | 54.5% | ||
| Q1 25 | — | 53.2% | ||
| Q4 24 | — | 53.4% | ||
| Q3 24 | — | 54.5% | ||
| Q2 24 | — | 55.1% | ||
| Q1 24 | — | 54.8% |
营业利润率APLSFSLY
| Q4 25 | -25.6% | -8.7% | ||
| Q3 25 | 48.7% | -18.2% | ||
| Q2 25 | -18.6% | -24.8% | ||
| Q1 25 | -50.0% | -26.4% | ||
| Q4 24 | -12.3% | -24.4% | ||
| Q3 24 | -24.0% | -29.6% | ||
| Q2 24 | -14.7% | -35.3% | ||
| Q1 24 | -36.0% | -34.6% |
净利率APLSFSLY
| Q4 25 | -29.5% | -9.0% | ||
| Q3 25 | 47.0% | -18.6% | ||
| Q2 25 | -23.6% | -25.2% | ||
| Q1 25 | -55.3% | -27.1% | ||
| Q4 24 | -17.1% | -23.4% | ||
| Q3 24 | -29.2% | -27.7% | ||
| Q2 24 | -18.9% | -33.0% | ||
| Q1 24 | -38.5% | -32.5% |
每股收益（稀释后）APLSFSLY
| Q4 25 | $-0.40 | $-0.10 | ||
| Q3 25 | $1.67 | $-0.20 | ||
| Q2 25 | $-0.33 | $-0.26 | ||
| Q1 25 | $-0.74 | $-0.27 | ||
| Q4 24 | $-0.30 | $-0.23 | ||
| Q3 24 | $-0.46 | $-0.27 | ||
| Q2 24 | $-0.30 | $-0.32 | ||
| Q1 24 | $-0.54 | $-0.32 |
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 | $361.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $929.6M |
| 总资产 | $1.1B | $1.5B |
| 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APLSFSLY
| Q4 25 | $466.2M | $361.8M | ||
| Q3 25 | $479.2M | $342.9M | ||
| Q2 25 | $370.0M | $321.2M | ||
| Q1 25 | $358.4M | $307.3M | ||
| Q4 24 | $411.3M | $295.9M | ||
| Q3 24 | $396.9M | $308.2M | ||
| Q2 24 | $360.1M | $311.8M | ||
| Q1 24 | $325.9M | $329.5M |
总债务APLSFSLY
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSFSLY
| Q4 25 | $370.1M | $929.6M | ||
| Q3 25 | $401.2M | $937.0M | ||
| Q2 25 | $156.3M | $942.6M | ||
| Q1 25 | $164.2M | $957.0M | ||
| Q4 24 | $228.5M | $965.3M | ||
| Q3 24 | $237.1M | $969.5M | ||
| Q2 24 | $264.3M | $981.2M | ||
| Q1 24 | $266.7M | $991.8M |
总资产APLSFSLY
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $821.4M | $1.5B | ||
| Q1 25 | $807.3M | $1.4B | ||
| Q4 24 | $885.1M | $1.5B | ||
| Q3 24 | $901.9M | $1.5B | ||
| Q2 24 | $904.5M | $1.5B | ||
| Q1 24 | $831.9M | $1.5B |
负债/权益比APLSFSLY
| 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 | $22.4M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $12.2M |
| 自由现金流率自由现金流/营收 | -7.1% | 7.1% |
| 资本支出强度资本支出/营收 | 0.1% | 5.9% |
| 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 | $65.8M |
8季度趋势，按日历期对齐
经营现金流APLSFSLY
| Q4 25 | $-14.2M | $22.4M | ||
| Q3 25 | $108.5M | $28.9M | ||
| Q2 25 | $4.4M | $25.8M | ||
| Q1 25 | $-53.4M | $17.3M | ||
| Q4 24 | $19.4M | $5.2M | ||
| Q3 24 | $34.1M | $5.0M | ||
| Q2 24 | $-8.3M | $-4.9M | ||
| Q1 24 | $-133.0M | $11.1M |
自由现金流APLSFSLY
| Q4 25 | $-14.3M | $12.2M | ||
| Q3 25 | $108.3M | $22.9M | ||
| Q2 25 | $4.4M | $15.9M | ||
| Q1 25 | $-53.4M | $14.7M | ||
| Q4 24 | $19.3M | $251.0K | ||
| Q3 24 | — | $3.0M | ||
| Q2 24 | $-8.4M | $-6.7M | ||
| Q1 24 | $-133.3M | $9.5M |
自由现金流率APLSFSLY
| Q4 25 | -7.1% | 7.1% | ||
| Q3 25 | 23.6% | 14.5% | ||
| Q2 25 | 2.5% | 10.7% | ||
| Q1 25 | -32.0% | 10.2% | ||
| Q4 24 | 9.1% | 0.2% | ||
| Q3 24 | — | 2.2% | ||
| Q2 24 | -4.2% | -5.1% | ||
| Q1 24 | -77.3% | 7.1% |
资本支出强度APLSFSLY
| Q4 25 | 0.1% | 5.9% | ||
| Q3 25 | 0.0% | 3.8% | ||
| Q2 25 | 0.0% | 6.6% | ||
| Q1 25 | 0.0% | 1.8% | ||
| Q4 24 | 0.0% | 3.5% | ||
| Q3 24 | 0.0% | 1.5% | ||
| Q2 24 | 0.0% | 1.3% | ||
| Q1 24 | 0.2% | 1.2% |
现金转化率APLSFSLY
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 4% |
