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Apellis Pharmaceuticals, Inc.（APLS）与IMAX（IMAX）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IMAX的1.6倍（$199.9M vs $125.2M），IMAX净利率更高（0.5% vs -29.5%，领先30.0%），IMAX同比增速更快（35.1% vs -5.9%），IMAX自由现金流更多（$28.0M vs $-14.3M），过去两年IMAX的营收复合增速更高（25.8% 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。
IMAX公司是加拿大的影视放映技术企业，1967年创立于蒙特利尔，总部位于多伦多地区，在纽约、洛杉矶均设有业务点。核心业务包括IMAX摄影机与放映系统的设计制造，同时面向全球合作影院提供影片开发、制作、后期及发行服务，是沉浸式观影技术领域的领先企业。
APLS vs IMAX — 直观对比
营收规模更大
APLS
是对方的1.6倍
$125.2M
营收增速更快
IMAX
高出41.0%
-5.9%
净利率更高
IMAX
高出30.0%
-29.5%
自由现金流更多
IMAX
多$42.2M
$-14.3M
两年增速更快
IMAX
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $125.2M |
| 净利润 | $-59.0M | $637.0K |
| 毛利率 | — | 57.6% |
| 营业利润率 | -25.6% | 19.3% |
| 净利率 | -29.5% | 0.5% |
| 营收同比 | -5.9% | 35.1% |
| 净利润同比 | -62.2% | -88.0% |
| 每股收益（稀释后） | $-0.40 | $0.02 |
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APLSIMAX
| Q4 25 | $199.9M | $125.2M | ||
| Q3 25 | $458.6M | $106.7M | ||
| Q2 25 | $178.5M | $91.7M | ||
| Q1 25 | $166.8M | $86.7M | ||
| Q4 24 | $212.5M | $92.7M | ||
| Q3 24 | $196.8M | $91.5M | ||
| Q2 24 | $199.7M | $89.0M | ||
| Q1 24 | $172.3M | $79.1M |
净利润APLSIMAX
| Q4 25 | $-59.0M | $637.0K | ||
| Q3 25 | $215.7M | $20.7M | ||
| Q2 25 | $-42.2M | $11.3M | ||
| Q1 25 | $-92.2M | $2.3M | ||
| Q4 24 | $-36.4M | $5.3M | ||
| Q3 24 | $-57.4M | $13.9M | ||
| Q2 24 | $-37.7M | $3.6M | ||
| Q1 24 | $-66.4M | $3.3M |
毛利率APLSIMAX
| Q4 25 | — | 57.6% | ||
| Q3 25 | — | 63.1% | ||
| Q2 25 | — | 58.5% | ||
| Q1 25 | — | 61.4% | ||
| Q4 24 | — | 52.2% | ||
| Q3 24 | — | 55.8% | ||
| Q2 24 | — | 49.4% | ||
| Q1 24 | — | 59.3% |
营业利润率APLSIMAX
| Q4 25 | -25.6% | 19.3% | ||
| Q3 25 | 48.7% | 27.2% | ||
| Q2 25 | -18.6% | 15.6% | ||
| Q1 25 | -50.0% | 19.3% | ||
| Q4 24 | -12.3% | 10.3% | ||
| Q3 24 | -24.0% | 21.2% | ||
| Q2 24 | -14.7% | 3.2% | ||
| Q1 24 | -36.0% | 15.3% |
净利率APLSIMAX
| Q4 25 | -29.5% | 0.5% | ||
| Q3 25 | 47.0% | 19.4% | ||
| Q2 25 | -23.6% | 12.3% | ||
| Q1 25 | -55.3% | 2.7% | ||
| Q4 24 | -17.1% | 5.7% | ||
| Q3 24 | -29.2% | 15.2% | ||
| Q2 24 | -18.9% | 4.0% | ||
| Q1 24 | -38.5% | 4.1% |
每股收益（稀释后）APLSIMAX
| Q4 25 | $-0.40 | $0.02 | ||
| Q3 25 | $1.67 | $0.37 | ||
| Q2 25 | $-0.33 | $0.20 | ||
| Q1 25 | $-0.74 | $0.04 | ||
| Q4 24 | $-0.30 | $0.09 | ||
| Q3 24 | $-0.46 | $0.26 | ||
| Q2 24 | $-0.30 | $0.07 | ||
| Q1 24 | $-0.54 | $0.06 |
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 | $151.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $337.9M |
| 总资产 | $1.1B | $894.0M |
| 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APLSIMAX
| Q4 25 | $466.2M | $151.2M | ||
| Q3 25 | $479.2M | $143.1M | ||
| Q2 25 | $370.0M | $109.3M | ||
| Q1 25 | $358.4M | $97.1M | ||
| Q4 24 | $411.3M | $100.6M | ||
| Q3 24 | $396.9M | $104.5M | ||
| Q2 24 | $360.1M | $91.6M | ||
| Q1 24 | $325.9M | $81.0M |
总债务APLSIMAX
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSIMAX
| Q4 25 | $370.1M | $337.9M | ||
| Q3 25 | $401.2M | $349.5M | ||
| Q2 25 | $156.3M | $320.4M | ||
| Q1 25 | $164.2M | $299.5M | ||
| Q4 24 | $228.5M | $299.5M | ||
| Q3 24 | $237.1M | $289.4M | ||
| Q2 24 | $264.3M | $267.2M | ||
| Q1 24 | $266.7M | $258.8M |
总资产APLSIMAX
| Q4 25 | $1.1B | $894.0M | ||
| Q3 25 | $1.1B | $889.6M | ||
| Q2 25 | $821.4M | $868.6M | ||
| Q1 25 | $807.3M | $848.3M | ||
| Q4 24 | $885.1M | $830.4M | ||
| Q3 24 | $901.9M | $847.6M | ||
| Q2 24 | $904.5M | $827.4M | ||
| Q1 24 | $831.9M | $824.1M |
负债/权益比APLSIMAX
| 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 | $29.4M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $28.0M |
| 自由现金流率自由现金流/营收 | -7.1% | 22.3% |
| 资本支出强度资本支出/营收 | 0.1% | 1.1% |
| 现金转化率经营现金流/净利润 | — | 46.11× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $118.9M |
8季度趋势，按日历期对齐
经营现金流APLSIMAX
| Q4 25 | $-14.2M | $29.4M | ||
| Q3 25 | $108.5M | $67.5M | ||
| Q2 25 | $4.4M | $23.2M | ||
| Q1 25 | $-53.4M | $7.0M | ||
| Q4 24 | $19.4M | $11.5M | ||
| Q3 24 | $34.1M | $35.3M | ||
| Q2 24 | $-8.3M | $35.0M | ||
| Q1 24 | $-133.0M | $-11.0M |
自由现金流APLSIMAX
| Q4 25 | $-14.3M | $28.0M | ||
| Q3 25 | $108.3M | $64.8M | ||
| Q2 25 | $4.4M | $20.9M | ||
| Q1 25 | $-53.4M | $5.3M | ||
| Q4 24 | $19.3M | $6.9M | ||
| Q3 24 | — | $34.2M | ||
| Q2 24 | $-8.4M | $33.5M | ||
| Q1 24 | $-133.3M | $-12.1M |
自由现金流率APLSIMAX
| Q4 25 | -7.1% | 22.3% | ||
| Q3 25 | 23.6% | 60.7% | ||
| Q2 25 | 2.5% | 22.8% | ||
| Q1 25 | -32.0% | 6.1% | ||
| Q4 24 | 9.1% | 7.4% | ||
| Q3 24 | — | 37.3% | ||
| Q2 24 | -4.2% | 37.6% | ||
| Q1 24 | -77.3% | -15.3% |
资本支出强度APLSIMAX
| Q4 25 | 0.1% | 1.1% | ||
| Q3 25 | 0.0% | 2.6% | ||
| Q2 25 | 0.0% | 2.6% | ||
| Q1 25 | 0.0% | 1.9% | ||
| Q4 24 | 0.0% | 5.0% | ||
| Q3 24 | 0.0% | 1.2% | ||
| Q2 24 | 0.0% | 1.8% | ||
| Q1 24 | 0.2% | 1.4% |
现金转化率APLSIMAX
| Q4 25 | — | 46.11× | ||
| Q3 25 | 0.50× | 3.27× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 9.78× | ||
| Q1 24 | — | -3.35× |
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% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
