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Apellis Pharmaceuticals, Inc.（APLS）与IREN Ltd（IREN）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IREN Ltd的1.1倍（$199.9M vs $184.7M），Apellis Pharmaceuticals, Inc.净利率更高（-29.5% vs -84.1%，领先54.7%），IREN Ltd同比增速更快（59.0% vs -5.9%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-468.0M）
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。
IREN Ltd是一家垂直整合的数据中心企业，依托可再生能源为比特币、人工智能等前沿领域发展提供算力支撑，旗下设施策略性布局于美国及加拿大境内可再生能源丰富、光纤网络完善的区域。
APLS vs IREN — 直观对比
营收规模更大
APLS
是对方的1.1倍
$184.7M
营收增速更快
IREN
高出65.0%
-5.9%
净利率更高
APLS
高出54.7%
-84.1%
自由现金流更多
APLS
多$453.8M
$-468.0M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $184.7M |
| 净利润 | $-59.0M | $-155.4M |
| 毛利率 | — | 64.4% |
| 营业利润率 | -25.6% | -63.0% |
| 净利率 | -29.5% | -84.1% |
| 营收同比 | -5.9% | 59.0% |
| 净利润同比 | -62.2% | -610.0% |
| 每股收益（稀释后） | $-0.40 | $-0.52 |
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APLSIREN
| Q4 25 | $199.9M | $184.7M | ||
| Q3 25 | $458.6M | $240.3M | ||
| Q2 25 | $178.5M | — | ||
| Q1 25 | $166.8M | — | ||
| Q4 24 | $212.5M | $116.1M | ||
| Q3 24 | $196.8M | $52.8M | ||
| Q2 24 | $199.7M | — | ||
| Q1 24 | $172.3M | $54.3M |
净利润APLSIREN
| Q4 25 | $-59.0M | $-155.4M | ||
| Q3 25 | $215.7M | $384.6M | ||
| Q2 25 | $-42.2M | — | ||
| Q1 25 | $-92.2M | — | ||
| Q4 24 | $-36.4M | $-21.9M | ||
| Q3 24 | $-57.4M | $-51.7M | ||
| Q2 24 | $-37.7M | — | ||
| Q1 24 | $-66.4M | $8.6M |
毛利率APLSIREN
| Q4 25 | — | 64.4% | ||
| Q3 25 | — | 66.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 72.2% | ||
| Q3 24 | — | 39.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
营业利润率APLSIREN
| Q4 25 | -25.6% | -63.0% | ||
| Q3 25 | 48.7% | -31.8% | ||
| Q2 25 | -18.6% | — | ||
| Q1 25 | -50.0% | — | ||
| Q4 24 | -12.3% | 14.9% | ||
| Q3 24 | -24.0% | -89.2% | ||
| Q2 24 | -14.7% | — | ||
| Q1 24 | -36.0% | 11.1% |
净利率APLSIREN
| Q4 25 | -29.5% | -84.1% | ||
| Q3 25 | 47.0% | 160.1% | ||
| Q2 25 | -23.6% | — | ||
| Q1 25 | -55.3% | — | ||
| Q4 24 | -17.1% | -18.8% | ||
| Q3 24 | -29.2% | -98.0% | ||
| Q2 24 | -18.9% | — | ||
| Q1 24 | -38.5% | 15.9% |
每股收益（稀释后）APLSIREN
| Q4 25 | $-0.40 | $-0.52 | ||
| Q3 25 | $1.67 | $1.08 | ||
| Q2 25 | $-0.33 | — | ||
| Q1 25 | $-0.74 | — | ||
| Q4 24 | $-0.30 | $-0.10 | ||
| Q3 24 | $-0.46 | $-0.27 | ||
| Q2 24 | $-0.30 | — | ||
| Q1 24 | $-0.54 | $0.00 |
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 | $3.3B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $2.5B |
| 总资产 | $1.1B | $7.0B |
| 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APLSIREN
| Q4 25 | $466.2M | $3.3B | ||
| Q3 25 | $479.2M | $1.0B | ||
| Q2 25 | $370.0M | — | ||
| Q1 25 | $358.4M | — | ||
| Q4 24 | $411.3M | $427.3M | ||
| Q3 24 | $396.9M | $98.6M | ||
| Q2 24 | $360.1M | — | ||
| Q1 24 | $325.9M | $259.7M |
总债务APLSIREN
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSIREN
| Q4 25 | $370.1M | $2.5B | ||
| Q3 25 | $401.2M | $2.9B | ||
| Q2 25 | $156.3M | — | ||
| Q1 25 | $164.2M | — | ||
| Q4 24 | $228.5M | $1.2B | ||
| Q3 24 | $237.1M | $1.1B | ||
| Q2 24 | $264.3M | — | ||
| Q1 24 | $266.7M | $677.2M |
总资产APLSIREN
| Q4 25 | $1.1B | $7.0B | ||
| Q3 25 | $1.1B | $4.3B | ||
| Q2 25 | $821.4M | — | ||
| Q1 25 | $807.3M | — | ||
| Q4 24 | $885.1M | $1.9B | ||
| Q3 24 | $901.9M | $1.3B | ||
| Q2 24 | $904.5M | — | ||
| Q1 24 | $831.9M | $723.6M |
负债/权益比APLSIREN
| 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 | $71.7M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-468.0M |
| 自由现金流率自由现金流/营收 | -7.1% | -253.4% |
| 资本支出强度资本支出/营收 | 0.1% | 292.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $45.0M | $-701.2M |
8季度趋势，按日历期对齐
经营现金流APLSIREN
| Q4 25 | $-14.2M | $71.7M | ||
| Q3 25 | $108.5M | $142.4M | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.4M | $53.6M | ||
| Q3 24 | $34.1M | $-3.9M | ||
| Q2 24 | $-8.3M | — | ||
| Q1 24 | $-133.0M | $-27.1M |
自由现金流APLSIREN
| Q4 25 | $-14.3M | $-468.0M | ||
| Q3 25 | $108.3M | $-38.0M | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | $-85.5M | ||
| Q3 24 | — | $-109.7M | ||
| Q2 24 | $-8.4M | — | ||
| Q1 24 | $-133.3M | $-108.3M |
自由现金流率APLSIREN
| Q4 25 | -7.1% | -253.4% | ||
| Q3 25 | 23.6% | -15.8% | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | -73.6% | ||
| Q3 24 | — | -208.0% | ||
| Q2 24 | -4.2% | — | ||
| Q1 24 | -77.3% | -199.4% |
资本支出强度APLSIREN
| Q4 25 | 0.1% | 292.2% | ||
| Q3 25 | 0.0% | 75.0% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | 119.7% | ||
| Q3 24 | 0.0% | 200.6% | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.2% | 149.5% |
现金转化率APLSIREN
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | 0.37× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -3.13× |
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% |
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
