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Apellis Pharmaceuticals, Inc.（APLS）与Global Net Lease, Inc.（GNL）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Global Net Lease, Inc.的1.7倍（$199.9M vs $117.0M），Global Net Lease, Inc.净利率更高（41.2% vs -29.5%，领先70.7%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -15.1%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -11.1%）
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。
Global Net Lease, Inc. 是一家上市房地产投资信托机构，主要收购、持有并运营多元化商业地产资产，通过长期净租赁协议出租物业，项目覆盖北美、欧洲多地，涵盖工业、办公、零售等领域，为股东提供稳定的长期收益。
APLS vs GNL — 直观对比
营收规模更大
APLS
是对方的1.7倍
$117.0M
营收增速更快
APLS
高出9.2%
-15.1%
净利率更高
GNL
高出70.7%
-29.5%
两年增速更快
APLS
近两年复合增速
-11.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $117.0M |
| 净利润 | $-59.0M | $48.2M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 94.7% |
| 净利率 | -29.5% | 41.2% |
| 营收同比 | -5.9% | -15.1% |
| 净利润同比 | -62.2% | 838.7% |
| 每股收益（稀释后） | $-0.40 | $0.14 |
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APLSGNL
| Q4 25 | $199.9M | $117.0M | ||
| Q3 25 | $458.6M | $121.0M | ||
| Q2 25 | $178.5M | $124.9M | ||
| Q1 25 | $166.8M | $132.4M | ||
| Q4 24 | $212.5M | $137.8M | ||
| Q3 24 | $196.8M | $138.7M | ||
| Q2 24 | $199.7M | $145.5M | ||
| Q1 24 | $172.3M | $147.9M |
净利润APLSGNL
| Q4 25 | $-59.0M | $48.2M | ||
| Q3 25 | $215.7M | $-60.1M | ||
| Q2 25 | $-42.2M | $-24.1M | ||
| Q1 25 | $-92.2M | $-189.4M | ||
| Q4 24 | $-36.4M | $-6.5M | ||
| Q3 24 | $-57.4M | $-65.6M | ||
| Q2 24 | $-37.7M | $-35.7M | ||
| Q1 24 | $-66.4M | $-23.8M |
营业利润率APLSGNL
| Q4 25 | -25.6% | 94.7% | ||
| Q3 25 | 48.7% | -11.7% | ||
| Q2 25 | -18.6% | 33.9% | ||
| Q1 25 | -50.0% | -21.1% | ||
| Q4 24 | -12.3% | 40.8% | ||
| Q3 24 | -24.0% | 9.3% | ||
| Q2 24 | -14.7% | 42.6% | ||
| Q1 24 | -36.0% | 38.6% |
净利率APLSGNL
| Q4 25 | -29.5% | 41.2% | ||
| Q3 25 | 47.0% | -49.7% | ||
| Q2 25 | -23.6% | -19.3% | ||
| Q1 25 | -55.3% | -143.0% | ||
| Q4 24 | -17.1% | -4.7% | ||
| Q3 24 | -29.2% | -47.3% | ||
| Q2 24 | -18.9% | -24.5% | ||
| Q1 24 | -38.5% | -16.1% |
每股收益（稀释后）APLSGNL
| Q4 25 | $-0.40 | $0.14 | ||
| Q3 25 | $1.67 | $-0.32 | ||
| Q2 25 | $-0.33 | $-0.16 | ||
| Q1 25 | $-0.74 | $-0.87 | ||
| Q4 24 | $-0.30 | $-0.08 | ||
| Q3 24 | $-0.46 | $-0.33 | ||
| Q2 24 | $-0.30 | $-0.20 | ||
| Q1 24 | $-0.54 | $-0.15 |
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 | $180.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.7B |
| 总资产 | $1.1B | $4.3B |
| 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APLSGNL
| Q4 25 | $466.2M | $180.1M | ||
| Q3 25 | $479.2M | $165.1M | ||
| Q2 25 | $370.0M | $144.8M | ||
| Q1 25 | $358.4M | $147.0M | ||
| Q4 24 | $411.3M | $159.7M | ||
| Q3 24 | $396.9M | $127.2M | ||
| Q2 24 | $360.1M | $122.2M | ||
| Q1 24 | $325.9M | $131.9M |
总债务APLSGNL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSGNL
| Q4 25 | $370.1M | $1.7B | ||
| Q3 25 | $401.2M | $1.7B | ||
| Q2 25 | $156.3M | $1.8B | ||
| Q1 25 | $164.2M | $1.9B | ||
| Q4 24 | $228.5M | $2.2B | ||
| Q3 24 | $237.1M | $2.3B | ||
| Q2 24 | $264.3M | $2.4B | ||
| Q1 24 | $266.7M | $2.5B |
总资产APLSGNL
| Q4 25 | $1.1B | $4.3B | ||
| Q3 25 | $1.1B | $4.8B | ||
| Q2 25 | $821.4M | $5.0B | ||
| Q1 25 | $807.3M | $5.8B | ||
| Q4 24 | $885.1M | $7.0B | ||
| Q3 24 | $901.9M | $7.3B | ||
| Q2 24 | $904.5M | $7.6B | ||
| Q1 24 | $831.9M | $8.0B |
负债/权益比APLSGNL
| 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 | $222.8M |
| 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 | — | 4.62× |
| 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APLSGNL
| Q4 25 | $-14.2M | $222.8M | ||
| Q3 25 | $108.5M | $56.0M | ||
| Q2 25 | $4.4M | $52.0M | ||
| Q1 25 | $-53.4M | $59.2M | ||
| Q4 24 | $19.4M | $299.5M | ||
| Q3 24 | $34.1M | $62.1M | ||
| Q2 24 | $-8.3M | $70.4M | ||
| Q1 24 | $-133.0M | $92.2M |
自由现金流APLSGNL
| Q4 25 | $-14.3M | — | ||
| Q3 25 | $108.3M | — | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-8.4M | — | ||
| Q1 24 | $-133.3M | — |
自由现金流率APLSGNL
| Q4 25 | -7.1% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.2% | — | ||
| Q1 24 | -77.3% | — |
资本支出强度APLSGNL
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.2% | — |
现金转化率APLSGNL
| Q4 25 | — | 4.62× | ||
| 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% |
GNL
| Industrial And Distribution Segment | $56.0M | 48% |
| Office Segment | $30.8M | 26% |
| Single Tenant Retail Segment | $30.2M | 26% |
