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Apellis Pharmaceuticals, Inc.（APLS）与INSTEEL INDUSTRIES INC（IIIN）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INSTEEL INDUSTRIES INC的1.3倍（$199.9M vs $159.9M），INSTEEL INDUSTRIES INC净利率更高（4.7% vs -29.5%，领先34.2%），INSTEEL INDUSTRIES INC同比增速更快（23.3% vs -5.9%），INSTEEL INDUSTRIES INC自由现金流更多（$-2.2M vs $-14.3M），过去两年INSTEEL INDUSTRIES INC的营收复合增速更高（12.0% 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。
Insteel Industries Inc是美国领先的钢材加固产品制造商，主营焊接钢筋网、工程结构网、钢纤维等产品，主要服务北美地区非住宅建筑、基础设施、预制混凝土构件等领域客户，提供高性能建筑加固解决方案。
APLS vs IIIN — 直观对比
营收规模更大
APLS
是对方的1.3倍
$159.9M
营收增速更快
IIIN
高出29.2%
-5.9%
净利率更高
IIIN
高出34.2%
-29.5%
自由现金流更多
IIIN
多$12.1M
$-14.3M
两年增速更快
IIIN
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $159.9M |
| 净利润 | $-59.0M | $7.6M |
| 毛利率 | — | 11.3% |
| 营业利润率 | -25.6% | 6.0% |
| 净利率 | -29.5% | 4.7% |
| 营收同比 | -5.9% | 23.3% |
| 净利润同比 | -62.2% | 602.4% |
| 每股收益（稀释后） | $-0.40 | $0.39 |
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APLSIIIN
| Q4 25 | $199.9M | $159.9M | ||
| Q3 25 | $458.6M | $177.4M | ||
| Q2 25 | $178.5M | $179.9M | ||
| Q1 25 | $166.8M | $160.7M | ||
| Q4 24 | $212.5M | $129.7M | ||
| Q3 24 | $196.8M | $134.3M | ||
| Q2 24 | $199.7M | $145.8M | ||
| Q1 24 | $172.3M | $127.4M |
净利润APLSIIIN
| Q4 25 | $-59.0M | $7.6M | ||
| Q3 25 | $215.7M | $14.6M | ||
| Q2 25 | $-42.2M | $15.2M | ||
| Q1 25 | $-92.2M | $10.2M | ||
| Q4 24 | $-36.4M | $1.1M | ||
| Q3 24 | $-57.4M | $4.7M | ||
| Q2 24 | $-37.7M | $6.6M | ||
| Q1 24 | $-66.4M | $6.9M |
毛利率APLSIIIN
| Q4 25 | — | 11.3% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 17.1% | ||
| Q1 25 | — | 15.3% | ||
| Q4 24 | — | 7.3% | ||
| Q3 24 | — | 9.1% | ||
| Q2 24 | — | 10.6% | ||
| Q1 24 | — | 12.3% |
营业利润率APLSIIIN
| Q4 25 | -25.6% | 6.0% | ||
| Q3 25 | 48.7% | 10.8% | ||
| Q2 25 | -18.6% | 11.0% | ||
| Q1 25 | -50.0% | 8.3% | ||
| Q4 24 | -12.3% | 1.1% | ||
| Q3 24 | -24.0% | 4.5% | ||
| Q2 24 | -14.7% | 6.0% | ||
| Q1 24 | -36.0% | 7.0% |
净利率APLSIIIN
| Q4 25 | -29.5% | 4.7% | ||
| Q3 25 | 47.0% | 8.2% | ||
| Q2 25 | -23.6% | 8.4% | ||
| Q1 25 | -55.3% | 6.4% | ||
| Q4 24 | -17.1% | 0.8% | ||
| Q3 24 | -29.2% | 3.5% | ||
| Q2 24 | -18.9% | 4.5% | ||
| Q1 24 | -38.5% | 5.4% |
每股收益（稀释后）APLSIIIN
| Q4 25 | $-0.40 | $0.39 | ||
| Q3 25 | $1.67 | $0.74 | ||
| Q2 25 | $-0.33 | $0.78 | ||
| Q1 25 | $-0.74 | $0.52 | ||
| Q4 24 | $-0.30 | $0.06 | ||
| Q3 24 | $-0.46 | $0.24 | ||
| Q2 24 | $-0.30 | $0.34 | ||
| Q1 24 | $-0.54 | $0.35 |
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 | $15.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $358.8M |
| 总资产 | $1.1B | $456.1M |
| 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APLSIIIN
| Q4 25 | $466.2M | $15.6M | ||
| Q3 25 | $479.2M | $38.6M | ||
| Q2 25 | $370.0M | $53.7M | ||
| Q1 25 | $358.4M | $28.4M | ||
| Q4 24 | $411.3M | $36.0M | ||
| Q3 24 | $396.9M | $111.5M | ||
| Q2 24 | $360.1M | $97.7M | ||
| Q1 24 | $325.9M | $83.9M |
总债务APLSIIIN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSIIIN
| Q4 25 | $370.1M | $358.8M | ||
| Q3 25 | $401.2M | $371.5M | ||
| Q2 25 | $156.3M | $356.2M | ||
| Q1 25 | $164.2M | $341.4M | ||
| Q4 24 | $228.5M | $331.6M | ||
| Q3 24 | $237.1M | $350.9M | ||
| Q2 24 | $264.3M | $346.0M | ||
| Q1 24 | $266.7M | $340.6M |
总资产APLSIIIN
| Q4 25 | $1.1B | $456.1M | ||
| Q3 25 | $1.1B | $462.6M | ||
| Q2 25 | $821.4M | $471.9M | ||
| Q1 25 | $807.3M | $421.9M | ||
| Q4 24 | $885.1M | $404.7M | ||
| Q3 24 | $901.9M | $422.6M | ||
| Q2 24 | $904.5M | $414.6M | ||
| Q1 24 | $831.9M | $397.2M |
负债/权益比APLSIIIN
| 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 | $-701.0K |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-2.2M |
| 自由现金流率自由现金流/营收 | -7.1% | -1.4% |
| 资本支出强度资本支出/营收 | 0.1% | 0.9% |
| 现金转化率经营现金流/净利润 | — | -0.09× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $439.0K |
8季度趋势，按日历期对齐
经营现金流APLSIIIN
| Q4 25 | $-14.2M | $-701.0K | ||
| Q3 25 | $108.5M | $-17.0M | ||
| Q2 25 | $4.4M | $28.5M | ||
| Q1 25 | $-53.4M | $-3.3M | ||
| Q4 24 | $19.4M | $19.0M | ||
| Q3 24 | $34.1M | $16.2M | ||
| Q2 24 | $-8.3M | $18.8M | ||
| Q1 24 | $-133.0M | $1.4M |
自由现金流APLSIIIN
| Q4 25 | $-14.3M | $-2.2M | ||
| Q3 25 | $108.3M | $-18.7M | ||
| Q2 25 | $4.4M | $26.9M | ||
| Q1 25 | $-53.4M | $-5.5M | ||
| Q4 24 | $19.3M | $16.3M | ||
| Q3 24 | — | $14.5M | ||
| Q2 24 | $-8.4M | $15.5M | ||
| Q1 24 | $-133.3M | $-580.0K |
自由现金流率APLSIIIN
| Q4 25 | -7.1% | -1.4% | ||
| Q3 25 | 23.6% | -10.6% | ||
| Q2 25 | 2.5% | 15.0% | ||
| Q1 25 | -32.0% | -3.5% | ||
| Q4 24 | 9.1% | 12.6% | ||
| Q3 24 | — | 10.8% | ||
| Q2 24 | -4.2% | 10.7% | ||
| Q1 24 | -77.3% | -0.5% |
资本支出强度APLSIIIN
| Q4 25 | 0.1% | 0.9% | ||
| Q3 25 | 0.0% | 1.0% | ||
| Q2 25 | 0.0% | 0.9% | ||
| Q1 25 | 0.0% | 1.4% | ||
| Q4 24 | 0.0% | 2.1% | ||
| Q3 24 | 0.0% | 1.3% | ||
| Q2 24 | 0.0% | 2.2% | ||
| Q1 24 | 0.2% | 1.5% |
现金转化率APLSIIIN
| Q4 25 | — | -0.09× | ||
| Q3 25 | 0.50× | -1.17× | ||
| Q2 25 | — | 1.88× | ||
| Q1 25 | — | -0.32× | ||
| Q4 24 | — | 17.56× | ||
| Q3 24 | — | 3.48× | ||
| Q2 24 | — | 2.86× | ||
| Q1 24 | — | 0.20× |
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% |
IIIN
| Welded Wire Reinforcement | $108.4M | 68% |
| PC Strand | $51.6M | 32% |
