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Apellis Pharmaceuticals, Inc.（APLS）与MARCUS CORP（MCS）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MARCUS CORP的1.0倍（$199.9M vs $193.5M），MARCUS CORP同比增速更快（2.8% vs -5.9%），MARCUS CORP自由现金流更多（$26.4M vs $-14.3M），过去两年MARCUS CORP的营收复合增速更高（18.2% 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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
APLS vs MCS — 直观对比
营收规模更大
APLS
是对方的1.0倍
$193.5M
营收增速更快
MCS
高出8.7%
-5.9%
自由现金流更多
MCS
多$40.7M
$-14.3M
两年增速更快
MCS
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $193.5M |
| 净利润 | $-59.0M | — |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 0.9% |
| 净利率 | -29.5% | — |
| 营收同比 | -5.9% | 2.8% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | — |
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APLSMCS
| Q4 25 | $199.9M | $193.5M | ||
| Q3 25 | $458.6M | $210.2M | ||
| Q2 25 | $178.5M | $206.0M | ||
| Q1 25 | $166.8M | $148.8M | ||
| Q4 24 | $212.5M | $188.3M | ||
| Q3 24 | $196.8M | $232.7M | ||
| Q2 24 | $199.7M | $176.0M | ||
| Q1 24 | $172.3M | $138.5M |
净利润APLSMCS
| Q4 25 | $-59.0M | — | ||
| Q3 25 | $215.7M | $16.2M | ||
| Q2 25 | $-42.2M | $7.3M | ||
| Q1 25 | $-92.2M | $-16.8M | ||
| Q4 24 | $-36.4M | $986.0K | ||
| Q3 24 | $-57.4M | $23.3M | ||
| Q2 24 | $-37.7M | $-20.2M | ||
| Q1 24 | $-66.4M | $-11.9M |
营业利润率APLSMCS
| Q4 25 | -25.6% | 0.9% | ||
| Q3 25 | 48.7% | 10.8% | ||
| Q2 25 | -18.6% | 6.3% | ||
| Q1 25 | -50.0% | -13.7% | ||
| Q4 24 | -12.3% | -1.2% | ||
| Q3 24 | -24.0% | 14.1% | ||
| Q2 24 | -14.7% | 1.3% | ||
| Q1 24 | -36.0% | -12.0% |
净利率APLSMCS
| Q4 25 | -29.5% | — | ||
| Q3 25 | 47.0% | 7.7% | ||
| Q2 25 | -23.6% | 3.6% | ||
| Q1 25 | -55.3% | -11.3% | ||
| Q4 24 | -17.1% | 0.5% | ||
| Q3 24 | -29.2% | 10.0% | ||
| Q2 24 | -18.9% | -11.5% | ||
| Q1 24 | -38.5% | -8.6% |
每股收益（稀释后）APLSMCS
| Q4 25 | $-0.40 | — | ||
| Q3 25 | $1.67 | — | ||
| Q2 25 | $-0.33 | — | ||
| Q1 25 | $-0.74 | — | ||
| Q4 24 | $-0.30 | — | ||
| Q3 24 | $-0.46 | — | ||
| Q2 24 | $-0.30 | — | ||
| Q1 24 | $-0.54 | — |
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 | $23.4M |
| 总债务越低越好 | — | $159.0M |
| 股东权益账面价值 | $370.1M | $457.4M |
| 总资产 | $1.1B | $1.0B |
| 负债/权益比越低杠杆越低 | — | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资APLSMCS
| Q4 25 | $466.2M | $23.4M | ||
| Q3 25 | $479.2M | $7.4M | ||
| Q2 25 | $370.0M | $14.9M | ||
| Q1 25 | $358.4M | $11.9M | ||
| Q4 24 | $411.3M | $40.8M | ||
| Q3 24 | $396.9M | $28.4M | ||
| Q2 24 | $360.1M | $32.8M | ||
| Q1 24 | $325.9M | $17.3M |
总债务APLSMCS
| Q4 25 | — | $159.0M | ||
| Q3 25 | — | $162.0M | ||
| Q2 25 | — | $179.9M | ||
| Q1 25 | — | $198.9M | ||
| Q4 24 | — | $159.1M | ||
| Q3 24 | — | $173.1M | ||
| Q2 24 | — | $175.7M | ||
| Q1 24 | $93.1M | $169.8M |
股东权益APLSMCS
| Q4 25 | $370.1M | $457.4M | ||
| Q3 25 | $401.2M | $454.3M | ||
| Q2 25 | $156.3M | $448.4M | ||
| Q1 25 | $164.2M | $441.8M | ||
| Q4 24 | $228.5M | $464.9M | ||
| Q3 24 | $237.1M | $462.3M | ||
| Q2 24 | $264.3M | $449.4M | ||
| Q1 24 | $266.7M | $459.3M |
总资产APLSMCS
| Q4 25 | $1.1B | $1.0B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $821.4M | $1.0B | ||
| Q1 25 | $807.3M | $1.0B | ||
| Q4 24 | $885.1M | $1.0B | ||
| Q3 24 | $901.9M | $1.0B | ||
| Q2 24 | $904.5M | $1.1B | ||
| Q1 24 | $831.9M | $1.0B |
负债/权益比APLSMCS
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 0.34× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.39× | ||
| Q1 24 | 0.35× | 0.37× |
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 | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $26.4M |
| 自由现金流率自由现金流/营收 | -7.1% | 13.6% |
| 资本支出强度资本支出/营收 | 0.1% | 11.6% |
| 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 | $989.0K |
8季度趋势，按日历期对齐
经营现金流APLSMCS
| Q4 25 | $-14.2M | $48.8M | ||
| Q3 25 | $108.5M | $39.1M | ||
| Q2 25 | $4.4M | $31.6M | ||
| Q1 25 | $-53.4M | $-35.3M | ||
| Q4 24 | $19.4M | $52.6M | ||
| Q3 24 | $34.1M | $30.5M | ||
| Q2 24 | $-8.3M | $36.0M | ||
| Q1 24 | $-133.0M | $-15.1M |
自由现金流APLSMCS
| Q4 25 | $-14.3M | $26.4M | ||
| Q3 25 | $108.3M | $18.2M | ||
| Q2 25 | $4.4M | $14.7M | ||
| Q1 25 | $-53.4M | $-58.3M | ||
| Q4 24 | $19.3M | $27.1M | ||
| Q3 24 | — | $12.0M | ||
| Q2 24 | $-8.4M | $16.1M | ||
| Q1 24 | $-133.3M | $-30.5M |
自由现金流率APLSMCS
| Q4 25 | -7.1% | 13.6% | ||
| Q3 25 | 23.6% | 8.7% | ||
| Q2 25 | 2.5% | 7.1% | ||
| Q1 25 | -32.0% | -39.2% | ||
| Q4 24 | 9.1% | 14.4% | ||
| Q3 24 | — | 5.2% | ||
| Q2 24 | -4.2% | 9.2% | ||
| Q1 24 | -77.3% | -22.0% |
资本支出强度APLSMCS
| Q4 25 | 0.1% | 11.6% | ||
| Q3 25 | 0.0% | 9.9% | ||
| Q2 25 | 0.0% | 8.2% | ||
| Q1 25 | 0.0% | 15.5% | ||
| Q4 24 | 0.0% | 13.5% | ||
| Q3 24 | 0.0% | 7.9% | ||
| Q2 24 | 0.0% | 11.3% | ||
| Q1 24 | 0.2% | 11.1% |
现金转化率APLSMCS
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | 2.41× | ||
| Q2 25 | — | 4.32× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 53.31× | ||
| Q3 24 | — | 1.31× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
