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Apellis Pharmaceuticals, Inc.（APLS）与柯达（KODK）财务数据对比。点击上方公司名可切换其他公司
柯达的季度营收约是Apellis Pharmaceuticals, Inc.的1.5倍（$290.0M vs $199.9M），Apellis Pharmaceuticals, Inc.净利率更高（-29.5% vs -37.2%，领先7.8%），柯达同比增速更快（9.0% vs -5.9%），柯达自由现金流更多（$483.0M vs $-14.3M），过去两年柯达的营收复合增速更高（7.9% 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。
伊士曼柯达公司，常简称为柯达，是一家源自美国的知名影像企业，总部位于纽约州罗切斯特，注册于新泽西州。柯达在摄影胶片领域拥有悠久的历史，曾率先将摄影胶片产品推向大众市场，如今仍围绕传统胶片影像业务开发各类相关产品。
APLS vs KODK — 直观对比
营收规模更大
KODK
是对方的1.5倍
$199.9M
营收增速更快
KODK
高出15.0%
-5.9%
净利率更高
APLS
高出7.8%
-37.2%
自由现金流更多
KODK
多$497.3M
$-14.3M
两年增速更快
KODK
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $290.0M |
| 净利润 | $-59.0M | $-108.0M |
| 毛利率 | — | 23.1% |
| 营业利润率 | -25.6% | -0.3% |
| 净利率 | -29.5% | -37.2% |
| 营收同比 | -5.9% | 9.0% |
| 净利润同比 | -62.2% | -515.4% |
| 每股收益（稀释后） | $-0.40 | $-1.22 |
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APLSKODK
| Q4 25 | $199.9M | $290.0M | ||
| Q3 25 | $458.6M | $269.0M | ||
| Q2 25 | $178.5M | $263.0M | ||
| Q1 25 | $166.8M | $247.0M | ||
| Q4 24 | $212.5M | $266.0M | ||
| Q3 24 | $196.8M | $261.0M | ||
| Q2 24 | $199.7M | $267.0M | ||
| Q1 24 | $172.3M | $249.0M |
净利润APLSKODK
| Q4 25 | $-59.0M | $-108.0M | ||
| Q3 25 | $215.7M | $13.0M | ||
| Q2 25 | $-42.2M | $-26.0M | ||
| Q1 25 | $-92.2M | $-7.0M | ||
| Q4 24 | $-36.4M | $26.0M | ||
| Q3 24 | $-57.4M | $18.0M | ||
| Q2 24 | $-37.7M | $26.0M | ||
| Q1 24 | $-66.4M | $32.0M |
毛利率APLSKODK
| Q4 25 | — | 23.1% | ||
| Q3 25 | — | 25.3% | ||
| Q2 25 | — | 19.4% | ||
| Q1 25 | — | 18.6% | ||
| Q4 24 | — | 19.2% | ||
| Q3 24 | — | 17.2% | ||
| Q2 24 | — | 21.7% | ||
| Q1 24 | — | 19.7% |
营业利润率APLSKODK
| Q4 25 | -25.6% | -0.3% | ||
| Q3 25 | 48.7% | 7.1% | ||
| Q2 25 | -18.6% | -1.9% | ||
| Q1 25 | -50.0% | -5.3% | ||
| Q4 24 | -12.3% | -3.0% | ||
| Q3 24 | -24.0% | -3.1% | ||
| Q2 24 | -14.7% | 0.7% | ||
| Q1 24 | -36.0% | 2.8% |
净利率APLSKODK
| Q4 25 | -29.5% | -37.2% | ||
| Q3 25 | 47.0% | 4.8% | ||
| Q2 25 | -23.6% | -9.9% | ||
| Q1 25 | -55.3% | -2.8% | ||
| Q4 24 | -17.1% | 9.8% | ||
| Q3 24 | -29.2% | 6.9% | ||
| Q2 24 | -18.9% | 9.7% | ||
| Q1 24 | -38.5% | 12.9% |
每股收益（稀释后）APLSKODK
| Q4 25 | $-0.40 | $-1.22 | ||
| Q3 25 | $1.67 | $-0.08 | ||
| Q2 25 | $-0.33 | $-0.36 | ||
| Q1 25 | $-0.74 | $-0.12 | ||
| Q4 24 | $-0.30 | $0.22 | ||
| Q3 24 | $-0.46 | $0.15 | ||
| Q2 24 | $-0.30 | $0.23 | ||
| Q1 24 | $-0.54 | $0.30 |
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 | $436.0M |
| 总债务越低越好 | — | $209.0M |
| 股东权益账面价值 | $370.1M | $614.0M |
| 总资产 | $1.1B | $1.6B |
| 负债/权益比越低杠杆越低 | — | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资APLSKODK
| Q4 25 | $466.2M | $436.0M | ||
| Q3 25 | $479.2M | $168.0M | ||
| Q2 25 | $370.0M | $155.0M | ||
| Q1 25 | $358.4M | $158.0M | ||
| Q4 24 | $411.3M | $201.0M | ||
| Q3 24 | $396.9M | $214.0M | ||
| Q2 24 | $360.1M | $251.0M | ||
| Q1 24 | $325.9M | $262.0M |
总债务APLSKODK
| Q4 25 | — | $209.0M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $467.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSKODK
| Q4 25 | $370.1M | $614.0M | ||
| Q3 25 | $401.2M | $762.0M | ||
| Q2 25 | $156.3M | $528.0M | ||
| Q1 25 | $164.2M | $563.0M | ||
| Q4 24 | $228.5M | $641.0M | ||
| Q3 24 | $237.1M | $982.0M | ||
| Q2 24 | $264.3M | $961.0M | ||
| Q1 24 | $266.7M | $951.0M |
总资产APLSKODK
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $821.4M | $1.9B | ||
| Q1 25 | $807.3M | $1.9B | ||
| Q4 24 | $885.1M | $2.0B | ||
| Q3 24 | $901.9M | $2.4B | ||
| Q2 24 | $904.5M | $2.4B | ||
| Q1 24 | $831.9M | $2.3B |
负债/权益比APLSKODK
| Q4 25 | — | 0.34× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.73× | ||
| 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 | $489.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $483.0M |
| 自由现金流率自由现金流/营收 | -7.1% | 166.6% |
| 资本支出强度资本支出/营收 | 0.1% | 2.1% |
| 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 | $446.0M |
8季度趋势，按日历期对齐
经营现金流APLSKODK
| Q4 25 | $-14.2M | $489.0M | ||
| Q3 25 | $108.5M | $21.0M | ||
| Q2 25 | $4.4M | $8.0M | ||
| Q1 25 | $-53.4M | $-38.0M | ||
| Q4 24 | $19.4M | $4.0M | ||
| Q3 24 | $34.1M | $-21.0M | ||
| Q2 24 | $-8.3M | $-7.0M | ||
| Q1 24 | $-133.0M | $17.0M |
自由现金流APLSKODK
| Q4 25 | $-14.3M | $483.0M | ||
| Q3 25 | $108.3M | $17.0M | ||
| Q2 25 | $4.4M | $-4.0M | ||
| Q1 25 | $-53.4M | $-50.0M | ||
| Q4 24 | $19.3M | $-13.0M | ||
| Q3 24 | — | $-41.0M | ||
| Q2 24 | $-8.4M | $-16.0M | ||
| Q1 24 | $-133.3M | $7.0M |
自由现金流率APLSKODK
| Q4 25 | -7.1% | 166.6% | ||
| Q3 25 | 23.6% | 6.3% | ||
| Q2 25 | 2.5% | -1.5% | ||
| Q1 25 | -32.0% | -20.2% | ||
| Q4 24 | 9.1% | -4.9% | ||
| Q3 24 | — | -15.7% | ||
| Q2 24 | -4.2% | -6.0% | ||
| Q1 24 | -77.3% | 2.8% |
资本支出强度APLSKODK
| Q4 25 | 0.1% | 2.1% | ||
| Q3 25 | 0.0% | 1.5% | ||
| Q2 25 | 0.0% | 4.6% | ||
| Q1 25 | 0.0% | 4.9% | ||
| Q4 24 | 0.0% | 6.4% | ||
| Q3 24 | 0.0% | 7.7% | ||
| Q2 24 | 0.0% | 3.4% | ||
| Q1 24 | 0.2% | 4.0% |
现金转化率APLSKODK
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | 1.62× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.15× | ||
| Q3 24 | — | -1.17× | ||
| Q2 24 | — | -0.27× | ||
| Q1 24 | — | 0.53× |
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% |
KODK
| Segment Continuing Operations | $195.0M | 67% |
| Advanced Materials And Chemicals | $85.0M | 29% |
| Other | $7.0M | 2% |
| All Other | $3.0M | 1% |
