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Apellis Pharmaceuticals, Inc.（APLS）与汉美驰（HBB）财务数据对比。点击上方公司名可切换其他公司
汉美驰的季度营收约是Apellis Pharmaceuticals, Inc.的1.1倍（$212.9M vs $199.9M），汉美驰净利率更高（8.7% vs -29.5%，领先38.2%），汉美驰同比增速更快（-0.3% vs -5.9%），汉美驰自由现金流更多（$27.9M vs $-14.3M），过去两年汉美驰的营收复合增速更高（28.8% 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。
汉美驰品牌控股公司是美国家电与商用餐厨设备设计营销企业，核心业务覆盖美加墨地区，主要推出搅拌机、料理机、烤面包机、慢炖锅、电熨斗、空气净化器等家用及商用设备，在北美家电市场拥有较高知名度。
APLS vs HBB — 直观对比
营收规模更大
HBB
是对方的1.1倍
$199.9M
营收增速更快
HBB
高出5.7%
-5.9%
净利率更高
HBB
高出38.2%
-29.5%
自由现金流更多
HBB
多$42.2M
$-14.3M
两年增速更快
HBB
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $212.9M |
| 净利润 | $-59.0M | $18.5M |
| 毛利率 | — | 28.3% |
| 营业利润率 | -25.6% | 11.9% |
| 净利率 | -29.5% | 8.7% |
| 营收同比 | -5.9% | -0.3% |
| 净利润同比 | -62.2% | -22.7% |
| 每股收益（稀释后） | $-0.40 | $1.37 |
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APLSHBB
| Q4 25 | $199.9M | $212.9M | ||
| Q3 25 | $458.6M | $132.8M | ||
| Q2 25 | $178.5M | $127.8M | ||
| Q1 25 | $166.8M | $133.4M | ||
| Q4 24 | $212.5M | $213.5M | ||
| Q3 24 | $196.8M | $156.7M | ||
| Q2 24 | $199.7M | $156.2M | ||
| Q1 24 | $172.3M | $128.3M |
净利润APLSHBB
| Q4 25 | $-59.0M | $18.5M | ||
| Q3 25 | $215.7M | $1.7M | ||
| Q2 25 | $-42.2M | $4.5M | ||
| Q1 25 | $-92.2M | $1.8M | ||
| Q4 24 | $-36.4M | $24.0M | ||
| Q3 24 | $-57.4M | $1.9M | ||
| Q2 24 | $-37.7M | $6.0M | ||
| Q1 24 | $-66.4M | $-1.2M |
毛利率APLSHBB
| Q4 25 | — | 28.3% | ||
| Q3 25 | — | 21.1% | ||
| Q2 25 | — | 27.5% | ||
| Q1 25 | — | 24.6% | ||
| Q4 24 | — | 26.1% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | — | 25.9% | ||
| Q1 24 | — | 23.4% |
营业利润率APLSHBB
| Q4 25 | -25.6% | 11.9% | ||
| Q3 25 | 48.7% | 2.2% | ||
| Q2 25 | -18.6% | 4.7% | ||
| Q1 25 | -50.0% | 1.7% | ||
| Q4 24 | -12.3% | 11.0% | ||
| Q3 24 | -24.0% | 6.8% | ||
| Q2 24 | -14.7% | 6.4% | ||
| Q1 24 | -36.0% | -0.7% |
净利率APLSHBB
| Q4 25 | -29.5% | 8.7% | ||
| Q3 25 | 47.0% | 1.2% | ||
| Q2 25 | -23.6% | 3.5% | ||
| Q1 25 | -55.3% | 1.4% | ||
| Q4 24 | -17.1% | 11.2% | ||
| Q3 24 | -29.2% | 1.2% | ||
| Q2 24 | -18.9% | 3.8% | ||
| Q1 24 | -38.5% | -0.9% |
每股收益（稀释后）APLSHBB
| Q4 25 | $-0.40 | $1.37 | ||
| Q3 25 | $1.67 | $0.12 | ||
| Q2 25 | $-0.33 | $0.33 | ||
| Q1 25 | $-0.74 | $0.13 | ||
| Q4 24 | $-0.30 | $1.72 | ||
| Q3 24 | $-0.46 | $0.14 | ||
| Q2 24 | $-0.30 | $0.42 | ||
| Q1 24 | $-0.54 | $-0.08 |
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 | $47.3M |
| 总债务越低越好 | — | $50.0M |
| 股东权益账面价值 | $370.1M | $182.8M |
| 总资产 | $1.1B | $397.6M |
| 负债/权益比越低杠杆越低 | — | 0.27× |
8季度趋势，按日历期对齐
现金及短期投资APLSHBB
| Q4 25 | $466.2M | $47.3M | ||
| Q3 25 | $479.2M | $17.2M | ||
| Q2 25 | $370.0M | $11.3M | ||
| Q1 25 | $358.4M | $48.3M | ||
| Q4 24 | $411.3M | $45.6M | ||
| Q3 24 | $396.9M | $22.6M | ||
| Q2 24 | $360.1M | $37.2M | ||
| Q1 24 | $325.9M | $26.3M |
总债务APLSHBB
| Q4 25 | — | $50.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $50.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSHBB
| Q4 25 | $370.1M | $182.8M | ||
| Q3 25 | $401.2M | $164.0M | ||
| Q2 25 | $156.3M | $164.0M | ||
| Q1 25 | $164.2M | $163.2M | ||
| Q4 24 | $228.5M | $165.9M | ||
| Q3 24 | $237.1M | $150.0M | ||
| Q2 24 | $264.3M | $145.7M | ||
| Q1 24 | $266.7M | $145.4M |
总资产APLSHBB
| Q4 25 | $1.1B | $397.6M | ||
| Q3 25 | $1.1B | $392.4M | ||
| Q2 25 | $821.4M | $363.8M | ||
| Q1 25 | $807.3M | $418.0M | ||
| Q4 24 | $885.1M | $415.1M | ||
| Q3 24 | $901.9M | $408.7M | ||
| Q2 24 | $904.5M | $369.9M | ||
| Q1 24 | $831.9M | $368.9M |
负债/权益比APLSHBB
| Q4 25 | — | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.30× | ||
| 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 | $28.5M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $27.9M |
| 自由现金流率自由现金流/营收 | -7.1% | 13.1% |
| 资本支出强度资本支出/营收 | 0.1% | 0.3% |
| 现金转化率经营现金流/净利润 | — | 1.53× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $11.0M |
8季度趋势，按日历期对齐
经营现金流APLSHBB
| Q4 25 | $-14.2M | $28.5M | ||
| Q3 25 | $108.5M | $9.1M | ||
| Q2 25 | $4.4M | $-30.4M | ||
| Q1 25 | $-53.4M | $6.6M | ||
| Q4 24 | $19.4M | $30.2M | ||
| Q3 24 | $34.1M | $-1.9M | ||
| Q2 24 | $-8.3M | $17.4M | ||
| Q1 24 | $-133.0M | $19.7M |
自由现金流APLSHBB
| Q4 25 | $-14.3M | $27.9M | ||
| Q3 25 | $108.3M | $8.4M | ||
| Q2 25 | $4.4M | $-31.3M | ||
| Q1 25 | $-53.4M | $6.1M | ||
| Q4 24 | $19.3M | $29.4M | ||
| Q3 24 | — | $-2.7M | ||
| Q2 24 | $-8.4M | $16.8M | ||
| Q1 24 | $-133.3M | $18.8M |
自由现金流率APLSHBB
| Q4 25 | -7.1% | 13.1% | ||
| Q3 25 | 23.6% | 6.3% | ||
| Q2 25 | 2.5% | -24.5% | ||
| Q1 25 | -32.0% | 4.6% | ||
| Q4 24 | 9.1% | 13.8% | ||
| Q3 24 | — | -1.7% | ||
| Q2 24 | -4.2% | 10.7% | ||
| Q1 24 | -77.3% | 14.6% |
资本支出强度APLSHBB
| Q4 25 | 0.1% | 0.3% | ||
| Q3 25 | 0.0% | 0.6% | ||
| Q2 25 | 0.0% | 0.7% | ||
| Q1 25 | 0.0% | 0.4% | ||
| Q4 24 | 0.0% | 0.4% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.4% | ||
| Q1 24 | 0.2% | 0.7% |
现金转化率APLSHBB
| Q4 25 | — | 1.53× | ||
| Q3 25 | 0.50× | 5.52× | ||
| Q2 25 | — | -6.83× | ||
| Q1 25 | — | 3.67× | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | -0.98× | ||
| Q2 24 | — | 2.90× | ||
| 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% |
HBB
| Consumer Product | $191.6M | 90% |
| Commercial Product | $17.5M | 8% |
| Health Beacon | $2.3M | 1% |
