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Apellis Pharmaceuticals, Inc.（APLS）与Groupon, Inc.（GRPN）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Groupon, Inc.的1.5倍（$199.9M vs $132.7M），Groupon, Inc.净利率更高（6.0% vs -29.5%，领先35.5%），Groupon, Inc.同比增速更快（1.8% vs -5.9%），Groupon, Inc.自由现金流更多（$53.0M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 3.8%）
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。
Groupon股份有限公司是源自美国的电子商务平台，业务覆盖全球13个国家，主打本地生活服务领域，主打以团购优惠券的模式，连接消费者与本地商户，覆盖休闲活动、旅行、商品及各类生活服务等多个品类。
APLS vs GRPN — 直观对比
营收规模更大
APLS
是对方的1.5倍
$132.7M
营收增速更快
GRPN
高出7.7%
-5.9%
净利率更高
GRPN
高出35.5%
-29.5%
自由现金流更多
GRPN
多$67.3M
$-14.3M
两年增速更快
APLS
近两年复合增速
3.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $132.7M |
| 净利润 | $-59.0M | $7.9M |
| 毛利率 | — | 90.4% |
| 营业利润率 | -25.6% | 4.9% |
| 净利率 | -29.5% | 6.0% |
| 营收同比 | -5.9% | 1.8% |
| 净利润同比 | -62.2% | 115.8% |
| 每股收益（稀释后） | $-0.40 | $0.21 |
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APLSGRPN
| Q4 25 | $199.9M | $132.7M | ||
| Q3 25 | $458.6M | $122.8M | ||
| Q2 25 | $178.5M | $125.7M | ||
| Q1 25 | $166.8M | $117.2M | ||
| Q4 24 | $212.5M | $130.4M | ||
| Q3 24 | $196.8M | $114.5M | ||
| Q2 24 | $199.7M | $124.6M | ||
| Q1 24 | $172.3M | $123.1M |
净利润APLSGRPN
| Q4 25 | $-59.0M | $7.9M | ||
| Q3 25 | $215.7M | $-118.4M | ||
| Q2 25 | $-42.2M | $20.3M | ||
| Q1 25 | $-92.2M | $7.2M | ||
| Q4 24 | $-36.4M | $-50.1M | ||
| Q3 24 | $-57.4M | $13.9M | ||
| Q2 24 | $-37.7M | $-10.0M | ||
| Q1 24 | $-66.4M | $-12.3M |
毛利率APLSGRPN
| Q4 25 | — | 90.4% | ||
| Q3 25 | — | 91.1% | ||
| Q2 25 | — | 91.0% | ||
| Q1 25 | — | 90.7% | ||
| Q4 24 | — | 90.6% | ||
| Q3 24 | — | 89.9% | ||
| Q2 24 | — | 90.4% | ||
| Q1 24 | — | 89.8% |
营业利润率APLSGRPN
| Q4 25 | -25.6% | 4.9% | ||
| Q3 25 | 48.7% | 1.8% | ||
| Q2 25 | -18.6% | 10.4% | ||
| Q1 25 | -50.0% | 1.6% | ||
| Q4 24 | -12.3% | 2.0% | ||
| Q3 24 | -24.0% | -4.9% | ||
| Q2 24 | -14.7% | 3.5% | ||
| Q1 24 | -36.0% | 6.0% |
净利率APLSGRPN
| Q4 25 | -29.5% | 6.0% | ||
| Q3 25 | 47.0% | -96.4% | ||
| Q2 25 | -23.6% | 16.2% | ||
| Q1 25 | -55.3% | 6.1% | ||
| Q4 24 | -17.1% | -38.4% | ||
| Q3 24 | -29.2% | 12.2% | ||
| Q2 24 | -18.9% | -8.1% | ||
| Q1 24 | -38.5% | -10.0% |
每股收益（稀释后）APLSGRPN
| Q4 25 | $-0.40 | $0.21 | ||
| Q3 25 | $1.67 | $-2.92 | ||
| Q2 25 | $-0.33 | $0.46 | ||
| Q1 25 | $-0.74 | $0.17 | ||
| Q4 24 | $-0.30 | $-1.26 | ||
| Q3 24 | $-0.46 | $0.33 | ||
| Q2 24 | $-0.30 | $-0.25 | ||
| Q1 24 | $-0.54 | $-0.33 |
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 | $296.1M |
| 总债务越低越好 | — | $342.8M |
| 股东权益账面价值 | $370.1M | $-42.6M |
| 总资产 | $1.1B | $670.4M |
| 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APLSGRPN
| Q4 25 | $466.2M | $296.1M | ||
| Q3 25 | $479.2M | $238.5M | ||
| Q2 25 | $370.0M | $262.6M | ||
| Q1 25 | $358.4M | $226.8M | ||
| Q4 24 | $411.3M | $228.8M | ||
| Q3 24 | $396.9M | $159.7M | ||
| Q2 24 | $360.1M | $178.1M | ||
| Q1 24 | $325.9M | $158.7M |
总债务APLSGRPN
| Q4 25 | — | $342.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $246.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSGRPN
| Q4 25 | $370.1M | $-42.6M | ||
| Q3 25 | $401.2M | $-59.6M | ||
| Q2 25 | $156.3M | $51.2M | ||
| Q1 25 | $164.2M | $45.5M | ||
| Q4 24 | $228.5M | $40.8M | ||
| Q3 24 | $237.1M | $40.0M | ||
| Q2 24 | $264.3M | $40.2M | ||
| Q1 24 | $266.7M | $41.2M |
总资产APLSGRPN
| Q4 25 | $1.1B | $670.4M | ||
| Q3 25 | $1.1B | $608.2M | ||
| Q2 25 | $821.4M | $647.4M | ||
| Q1 25 | $807.3M | $608.2M | ||
| Q4 24 | $885.1M | $612.7M | ||
| Q3 24 | $901.9M | $548.0M | ||
| Q2 24 | $904.5M | $572.8M | ||
| Q1 24 | $831.9M | $580.5M |
负债/权益比APLSGRPN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.03× | ||
| 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 | $56.6M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $53.0M |
| 自由现金流率自由现金流/营收 | -7.1% | 40.0% |
| 资本支出强度资本支出/营收 | 0.1% | 2.7% |
| 现金转化率经营现金流/净利润 | — | 7.13× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $49.9M |
8季度趋势，按日历期对齐
经营现金流APLSGRPN
| Q4 25 | $-14.2M | $56.6M | ||
| Q3 25 | $108.5M | $-20.5M | ||
| Q2 25 | $4.4M | $28.4M | ||
| Q1 25 | $-53.4M | $-22.0K | ||
| Q4 24 | $19.4M | $67.0M | ||
| Q3 24 | $34.1M | $-16.3M | ||
| Q2 24 | $-8.3M | $15.3M | ||
| Q1 24 | $-133.0M | $-10.1M |
自由现金流APLSGRPN
| Q4 25 | $-14.3M | $53.0M | ||
| Q3 25 | $108.3M | $-24.6M | ||
| Q2 25 | $4.4M | $25.2M | ||
| Q1 25 | $-53.4M | $-3.8M | ||
| Q4 24 | $19.3M | $63.2M | ||
| Q3 24 | — | $-19.7M | ||
| Q2 24 | $-8.4M | $10.8M | ||
| Q1 24 | $-133.3M | $-13.8M |
自由现金流率APLSGRPN
| Q4 25 | -7.1% | 40.0% | ||
| Q3 25 | 23.6% | -20.0% | ||
| Q2 25 | 2.5% | 20.0% | ||
| Q1 25 | -32.0% | -3.2% | ||
| Q4 24 | 9.1% | 48.5% | ||
| Q3 24 | — | -17.2% | ||
| Q2 24 | -4.2% | 8.7% | ||
| Q1 24 | -77.3% | -11.2% |
资本支出强度APLSGRPN
| Q4 25 | 0.1% | 2.7% | ||
| Q3 25 | 0.0% | 3.3% | ||
| Q2 25 | 0.0% | 2.6% | ||
| Q1 25 | 0.0% | 3.2% | ||
| Q4 24 | 0.0% | 2.9% | ||
| Q3 24 | 0.0% | 3.0% | ||
| Q2 24 | 0.0% | 3.6% | ||
| Q1 24 | 0.2% | 3.0% |
现金转化率APLSGRPN
| Q4 25 | — | 7.13× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | 1.40× | ||
| Q1 25 | — | -0.00× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -1.17× | ||
| 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% |
GRPN
| Service Local | $94.8M | 71% |
| Other | $35.6M | 27% |
| Service Travel | $2.3M | 2% |
