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Apellis Pharmaceuticals, Inc.（APLS）与Loar Holdings Inc.（LOAR）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Loar Holdings Inc.的1.5倍（$199.9M vs $131.8M），Loar Holdings Inc.净利率更高（9.5% vs -29.5%，领先39.0%），Loar Holdings Inc.同比增速更快（19.3% vs -5.9%），过去两年Loar Holdings Inc.的营收复合增速更高（19.8% 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。
APLS vs LOAR — 直观对比
营收规模更大
APLS
是对方的1.5倍
$131.8M
营收增速更快
LOAR
高出25.2%
-5.9%
净利率更高
LOAR
高出39.0%
-29.5%
两年增速更快
LOAR
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $131.8M |
| 净利润 | $-59.0M | $12.5M |
| 毛利率 | — | 52.1% |
| 营业利润率 | -25.6% | 18.0% |
| 净利率 | -29.5% | 9.5% |
| 营收同比 | -5.9% | 19.3% |
| 净利润同比 | -62.2% | 239.5% |
| 每股收益（稀释后） | $-0.40 | $0.13 |
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APLSLOAR
| Q4 25 | $199.9M | $131.8M | ||
| Q3 25 | $458.6M | $126.8M | ||
| Q2 25 | $178.5M | $123.1M | ||
| Q1 25 | $166.8M | $114.7M | ||
| Q4 24 | $212.5M | $110.4M | ||
| Q3 24 | $196.8M | $103.5M | ||
| Q2 24 | $199.7M | $97.0M | ||
| Q1 24 | $172.3M | $91.8M |
净利润APLSLOAR
| Q4 25 | $-59.0M | $12.5M | ||
| Q3 25 | $215.7M | $27.6M | ||
| Q2 25 | $-42.2M | $16.7M | ||
| Q1 25 | $-92.2M | $15.3M | ||
| Q4 24 | $-36.4M | $3.7M | ||
| Q3 24 | $-57.4M | $8.7M | ||
| Q2 24 | $-37.7M | $7.6M | ||
| Q1 24 | $-66.4M | $2.2M |
毛利率APLSLOAR
| Q4 25 | — | 52.1% | ||
| Q3 25 | — | 52.7% | ||
| Q2 25 | — | 53.8% | ||
| Q1 25 | — | 52.1% | ||
| Q4 24 | — | 48.9% | ||
| Q3 24 | — | 51.1% | ||
| Q2 24 | — | 49.0% | ||
| Q1 24 | — | 48.4% |
营业利润率APLSLOAR
| Q4 25 | -25.6% | 18.0% | ||
| Q3 25 | 48.7% | 22.9% | ||
| Q2 25 | -18.6% | 22.2% | ||
| Q1 25 | -50.0% | 22.8% | ||
| Q4 24 | -12.3% | 19.2% | ||
| Q3 24 | -24.0% | 22.1% | ||
| Q2 24 | -14.7% | 22.9% | ||
| Q1 24 | -36.0% | 23.3% |
净利率APLSLOAR
| Q4 25 | -29.5% | 9.5% | ||
| Q3 25 | 47.0% | 21.8% | ||
| Q2 25 | -23.6% | 13.6% | ||
| Q1 25 | -55.3% | 13.4% | ||
| Q4 24 | -17.1% | 3.3% | ||
| Q3 24 | -29.2% | 8.4% | ||
| Q2 24 | -18.9% | 7.9% | ||
| Q1 24 | -38.5% | 2.4% |
每股收益（稀释后）APLSLOAR
| Q4 25 | $-0.40 | $0.13 | ||
| Q3 25 | $1.67 | $0.29 | ||
| Q2 25 | $-0.33 | $0.17 | ||
| Q1 25 | $-0.74 | $0.16 | ||
| Q4 24 | $-0.30 | $-11023.48 | ||
| Q3 24 | $-0.46 | $0.09 | ||
| Q2 24 | $-0.30 | $0.09 | ||
| Q1 24 | $-0.54 | $11023.54 |
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 | $84.8M |
| 总债务越低越好 | — | $715.7M |
| 股东权益账面价值 | $370.1M | $1.2B |
| 总资产 | $1.1B | $2.0B |
| 负债/权益比越低杠杆越低 | — | 0.61× |
8季度趋势，按日历期对齐
现金及短期投资APLSLOAR
| Q4 25 | $466.2M | $84.8M | ||
| Q3 25 | $479.2M | $99.0M | ||
| Q2 25 | $370.0M | $103.3M | ||
| Q1 25 | $358.4M | $80.5M | ||
| Q4 24 | $411.3M | $54.1M | ||
| Q3 24 | $396.9M | $55.2M | ||
| Q2 24 | $360.1M | $73.2M | ||
| Q1 24 | $325.9M | $28.2M |
总债务APLSLOAR
| Q4 25 | — | $715.7M | ||
| Q3 25 | — | $279.4M | ||
| Q2 25 | — | $277.7M | ||
| Q1 25 | — | $277.5M | ||
| Q4 24 | — | $277.3M | ||
| Q3 24 | — | $602.1M | ||
| Q2 24 | — | $250.7M | ||
| Q1 24 | $93.1M | $534.2M |
股东权益APLSLOAR
| Q4 25 | $370.1M | $1.2B | ||
| Q3 25 | $401.2M | $1.2B | ||
| Q2 25 | $156.3M | $1.1B | ||
| Q1 25 | $164.2M | $1.1B | ||
| Q4 24 | $228.5M | $1.1B | ||
| Q3 24 | $237.1M | $769.8M | ||
| Q2 24 | $264.3M | $758.4M | ||
| Q1 24 | $266.7M | $420.6M |
总资产APLSLOAR
| Q4 25 | $1.1B | $2.0B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $821.4M | $1.5B | ||
| Q1 25 | $807.3M | $1.5B | ||
| Q4 24 | $885.1M | $1.5B | ||
| Q3 24 | $901.9M | $1.5B | ||
| Q2 24 | $904.5M | $1.1B | ||
| Q1 24 | $831.9M | $1.1B |
负债/权益比APLSLOAR
| Q4 25 | — | 0.61× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | — | 0.25× | ||
| Q3 24 | — | 0.78× | ||
| Q2 24 | — | 0.33× | ||
| Q1 24 | 0.35× | 1.27× |
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 | $30.4M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | — |
| 自由现金流率自由现金流/营收 | -7.1% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | — | 2.43× |
| 过去12个月自由现金流最近4个季度 | $45.0M | — |
8季度趋势，按日历期对齐
经营现金流APLSLOAR
| Q4 25 | $-14.2M | $30.4M | ||
| Q3 25 | $108.5M | $29.7M | ||
| Q2 25 | $4.4M | $23.8M | ||
| Q1 25 | $-53.4M | $28.4M | ||
| Q4 24 | $19.4M | $20.7M | ||
| Q3 24 | $34.1M | $16.3M | ||
| Q2 24 | $-8.3M | $7.1M | ||
| Q1 24 | $-133.0M | $10.8M |
自由现金流APLSLOAR
| Q4 25 | $-14.3M | — | ||
| Q3 25 | $108.3M | — | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-8.4M | — | ||
| Q1 24 | $-133.3M | — |
自由现金流率APLSLOAR
| Q4 25 | -7.1% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.2% | — | ||
| Q1 24 | -77.3% | — |
资本支出强度APLSLOAR
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.2% | — |
现金转化率APLSLOAR
| Q4 25 | — | 2.43× | ||
| Q3 25 | 0.50× | 1.08× | ||
| Q2 25 | — | 1.42× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | — | 5.62× | ||
| Q3 24 | — | 1.89× | ||
| Q2 24 | — | 0.93× | ||
| Q1 24 | — | 4.81× |
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% |
LOAR
| Other | $76.8M | 58% |
| Commercial Aerospace | $21.2M | 16% |
| Business Jet And General Aviation | $17.6M | 13% |
| Defense | $16.2M | 12% |
