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Apellis Pharmaceuticals, Inc.（APLS）与Kennedy-Wilson Holdings, Inc.（KW）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Kennedy-Wilson Holdings, Inc.的1.7倍（$199.9M vs $120.6M），Kennedy-Wilson Holdings, Inc.净利率更高（48.1% vs -29.5%，领先77.6%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -11.0%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-55.2M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -6.0%）
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。
肯尼迪-威尔逊控股是一家房地产投资企业，公司总部位于美国加利福尼亚州比弗利山庄，业务覆盖全球多地房地产领域的投资与运营相关业务。
APLS vs KW — 直观对比
营收规模更大
APLS
是对方的1.7倍
$120.6M
营收增速更快
APLS
高出5.1%
-11.0%
净利率更高
KW
高出77.6%
-29.5%
自由现金流更多
APLS
多$40.9M
$-55.2M
两年增速更快
APLS
近两年复合增速
-6.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $120.6M |
| 净利润 | $-59.0M | $58.0M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 57.3% |
| 净利率 | -29.5% | 48.1% |
| 营收同比 | -5.9% | -11.0% |
| 净利润同比 | -62.2% | 32.7% |
| 每股收益（稀释后） | $-0.40 | $0.22 |
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APLSKW
| Q4 25 | $199.9M | $120.6M | ||
| Q3 25 | $458.6M | $116.4M | ||
| Q2 25 | $178.5M | $135.7M | ||
| Q1 25 | $166.8M | $128.3M | ||
| Q4 24 | $212.5M | $135.5M | ||
| Q3 24 | $196.8M | $127.5M | ||
| Q2 24 | $199.7M | $132.0M | ||
| Q1 24 | $172.3M | $136.4M |
净利润APLSKW
| Q4 25 | $-59.0M | $58.0M | ||
| Q3 25 | $215.7M | $-10.2M | ||
| Q2 25 | $-42.2M | $5.6M | ||
| Q1 25 | $-92.2M | $-29.6M | ||
| Q4 24 | $-36.4M | $43.7M | ||
| Q3 24 | $-57.4M | $-66.8M | ||
| Q2 24 | $-37.7M | $-48.3M | ||
| Q1 24 | $-66.4M | $37.7M |
营业利润率APLSKW
| Q4 25 | -25.6% | 57.3% | ||
| Q3 25 | 48.7% | -6.2% | ||
| Q2 25 | -18.6% | 7.4% | ||
| Q1 25 | -50.0% | -26.9% | ||
| Q4 24 | -12.3% | 36.7% | ||
| Q3 24 | -24.0% | -60.8% | ||
| Q2 24 | -14.7% | -45.5% | ||
| Q1 24 | -36.0% | 47.2% |
净利率APLSKW
| Q4 25 | -29.5% | 48.1% | ||
| Q3 25 | 47.0% | -8.8% | ||
| Q2 25 | -23.6% | 4.1% | ||
| Q1 25 | -55.3% | -23.1% | ||
| Q4 24 | -17.1% | 32.3% | ||
| Q3 24 | -29.2% | -52.4% | ||
| Q2 24 | -18.9% | -36.6% | ||
| Q1 24 | -38.5% | 27.6% |
每股收益（稀释后）APLSKW
| Q4 25 | $-0.40 | $0.22 | ||
| Q3 25 | $1.67 | $-0.15 | ||
| Q2 25 | $-0.33 | $-0.05 | ||
| Q1 25 | $-0.74 | $-0.30 | ||
| Q4 24 | $-0.30 | $0.24 | ||
| Q3 24 | $-0.46 | $-0.56 | ||
| Q2 24 | $-0.30 | $-0.43 | ||
| Q1 24 | $-0.54 | $0.19 |
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 | $184.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.5B |
| 总资产 | $1.1B | $6.6B |
| 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APLSKW
| Q4 25 | $466.2M | $184.5M | ||
| Q3 25 | $479.2M | $382.6M | ||
| Q2 25 | $370.0M | $309.1M | ||
| Q1 25 | $358.4M | $356.6M | ||
| Q4 24 | $411.3M | $217.5M | ||
| Q3 24 | $396.9M | $367.1M | ||
| Q2 24 | $360.1M | $366.5M | ||
| Q1 24 | $325.9M | $541.9M |
总债务APLSKW
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSKW
| Q4 25 | $370.1M | $1.5B | ||
| Q3 25 | $401.2M | $1.5B | ||
| Q2 25 | $156.3M | $1.6B | ||
| Q1 25 | $164.2M | $1.6B | ||
| Q4 24 | $228.5M | $1.6B | ||
| Q3 24 | $237.1M | $1.6B | ||
| Q2 24 | $264.3M | $1.7B | ||
| Q1 24 | $266.7M | $1.7B |
总资产APLSKW
| Q4 25 | $1.1B | $6.6B | ||
| Q3 25 | $1.1B | $6.7B | ||
| Q2 25 | $821.4M | $6.8B | ||
| Q1 25 | $807.3M | $7.2B | ||
| Q4 24 | $885.1M | $7.0B | ||
| Q3 24 | $901.9M | $7.4B | ||
| Q2 24 | $904.5M | $7.5B | ||
| Q1 24 | $831.9M | $7.7B |
负债/权益比APLSKW
| 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 | $11.4M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-55.2M |
| 自由现金流率自由现金流/营收 | -7.1% | -45.8% |
| 资本支出强度资本支出/营收 | 0.1% | 55.2% |
| 现金转化率经营现金流/净利润 | — | 0.20× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $-103.5M |
8季度趋势，按日历期对齐
经营现金流APLSKW
| Q4 25 | $-14.2M | $11.4M | ||
| Q3 25 | $108.5M | $-7.6M | ||
| Q2 25 | $4.4M | $42.0M | ||
| Q1 25 | $-53.4M | $-51.9M | ||
| Q4 24 | $19.4M | $55.1M | ||
| Q3 24 | $34.1M | $-5.6M | ||
| Q2 24 | $-8.3M | $36.7M | ||
| Q1 24 | $-133.0M | $-5.6M |
自由现金流APLSKW
| Q4 25 | $-14.3M | $-55.2M | ||
| Q3 25 | $108.3M | $-18.0M | ||
| Q2 25 | $4.4M | $29.4M | ||
| Q1 25 | $-53.4M | $-59.7M | ||
| Q4 24 | $19.3M | $-76.5M | ||
| Q3 24 | — | $-27.7M | ||
| Q2 24 | $-8.4M | $-500.0K | ||
| Q1 24 | $-133.3M | $-57.1M |
自由现金流率APLSKW
| Q4 25 | -7.1% | -45.8% | ||
| Q3 25 | 23.6% | -15.5% | ||
| Q2 25 | 2.5% | 21.7% | ||
| Q1 25 | -32.0% | -46.5% | ||
| Q4 24 | 9.1% | -56.5% | ||
| Q3 24 | — | -21.7% | ||
| Q2 24 | -4.2% | -0.4% | ||
| Q1 24 | -77.3% | -41.9% |
资本支出强度APLSKW
| Q4 25 | 0.1% | 55.2% | ||
| Q3 25 | 0.0% | 8.9% | ||
| Q2 25 | 0.0% | 9.3% | ||
| Q1 25 | 0.0% | 6.1% | ||
| Q4 24 | 0.0% | 97.1% | ||
| Q3 24 | 0.0% | 17.3% | ||
| Q2 24 | 0.0% | 28.2% | ||
| Q1 24 | 0.2% | 37.8% |
现金转化率APLSKW
| Q4 25 | — | 0.20× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | 7.50× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.15× |
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% |
KW
| Consolidated Portfolio Segment | $84.9M | 70% |
| Investment Management Fees | $30.4M | 25% |
| Real Estate | $5.1M | 4% |
