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Apellis Pharmaceuticals, Inc.（APLS）与Mister Car Wash, Inc.（MCW）财务数据对比。点击上方公司名可切换其他公司
Mister Car Wash, Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.3倍（$261.2M vs $199.9M），Mister Car Wash, Inc.净利率更高（7.7% vs -29.5%，领先37.2%），Mister Car Wash, Inc.同比增速更快（4.0% vs -5.9%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-16.8M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 4.5%）
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。
棕熊洗车是总部位于美国华盛顿州的连锁洗车品牌，1957年在西雅图成立，截至2021年拥有49家门店，是美国排名第12位的大型洗车连锁企业，在当地洗车服务市场拥有较高的市场认可度。
APLS vs MCW — 直观对比
营收规模更大
MCW
是对方的1.3倍
$199.9M
营收增速更快
MCW
高出9.9%
-5.9%
净利率更高
MCW
高出37.2%
-29.5%
自由现金流更多
APLS
多$2.5M
$-16.8M
两年增速更快
APLS
近两年复合增速
4.5%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $261.2M |
| 净利润 | $-59.0M | $20.1M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 15.8% |
| 净利率 | -29.5% | 7.7% |
| 营收同比 | -5.9% | 4.0% |
| 净利润同比 | -62.2% | 118.9% |
| 每股收益（稀释后） | $-0.40 | $0.06 |
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APLSMCW
| Q4 25 | $199.9M | $261.2M | ||
| Q3 25 | $458.6M | $263.4M | ||
| Q2 25 | $178.5M | $265.4M | ||
| Q1 25 | $166.8M | $261.7M | ||
| Q4 24 | $212.5M | $251.2M | ||
| Q3 24 | $196.8M | $249.3M | ||
| Q2 24 | $199.7M | $255.0M | ||
| Q1 24 | $172.3M | $239.2M |
净利润APLSMCW
| Q4 25 | $-59.0M | $20.1M | ||
| Q3 25 | $215.7M | $27.4M | ||
| Q2 25 | $-42.2M | $28.6M | ||
| Q1 25 | $-92.2M | $27.0M | ||
| Q4 24 | $-36.4M | $9.2M | ||
| Q3 24 | $-57.4M | $22.3M | ||
| Q2 24 | $-37.7M | $22.1M | ||
| Q1 24 | $-66.4M | $16.6M |
营业利润率APLSMCW
| Q4 25 | -25.6% | 15.8% | ||
| Q3 25 | 48.7% | 19.7% | ||
| Q2 25 | -18.6% | 20.4% | ||
| Q1 25 | -50.0% | 20.2% | ||
| Q4 24 | -12.3% | 12.7% | ||
| Q3 24 | -24.0% | 19.9% | ||
| Q2 24 | -14.7% | 21.6% | ||
| Q1 24 | -36.0% | 17.8% |
净利率APLSMCW
| Q4 25 | -29.5% | 7.7% | ||
| Q3 25 | 47.0% | 10.4% | ||
| Q2 25 | -23.6% | 10.8% | ||
| Q1 25 | -55.3% | 10.3% | ||
| Q4 24 | -17.1% | 3.7% | ||
| Q3 24 | -29.2% | 9.0% | ||
| Q2 24 | -18.9% | 8.7% | ||
| Q1 24 | -38.5% | 7.0% |
每股收益（稀释后）APLSMCW
| Q4 25 | $-0.40 | $0.06 | ||
| Q3 25 | $1.67 | $0.08 | ||
| Q2 25 | $-0.33 | $0.09 | ||
| Q1 25 | $-0.74 | $0.08 | ||
| Q4 24 | $-0.30 | $0.02 | ||
| Q3 24 | $-0.46 | $0.07 | ||
| Q2 24 | $-0.30 | $0.07 | ||
| Q1 24 | $-0.54 | $0.05 |
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 | $28.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.1B |
| 总资产 | $1.1B | $3.2B |
| 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APLSMCW
| Q4 25 | $466.2M | $28.4M | ||
| Q3 25 | $479.2M | $35.7M | ||
| Q2 25 | $370.0M | $26.4M | ||
| Q1 25 | $358.4M | $39.1M | ||
| Q4 24 | $411.3M | $67.5M | ||
| Q3 24 | $396.9M | $16.5M | ||
| Q2 24 | $360.1M | $3.6M | ||
| Q1 24 | $325.9M | $10.7M |
总债务APLSMCW
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSMCW
| Q4 25 | $370.1M | $1.1B | ||
| Q3 25 | $401.2M | $1.1B | ||
| Q2 25 | $156.3M | $1.1B | ||
| Q1 25 | $164.2M | $1.0B | ||
| Q4 24 | $228.5M | $998.4M | ||
| Q3 24 | $237.1M | $979.4M | ||
| Q2 24 | $264.3M | $949.4M | ||
| Q1 24 | $266.7M | $928.7M |
总资产APLSMCW
| Q4 25 | $1.1B | $3.2B | ||
| Q3 25 | $1.1B | $3.1B | ||
| Q2 25 | $821.4M | $3.1B | ||
| Q1 25 | $807.3M | $3.1B | ||
| Q4 24 | $885.1M | $3.1B | ||
| Q3 24 | $901.9M | $3.0B | ||
| Q2 24 | $904.5M | $3.0B | ||
| Q1 24 | $831.9M | $2.9B |
负债/权益比APLSMCW
| 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 | $60.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-16.8M |
| 自由现金流率自由现金流/营收 | -7.1% | -6.4% |
| 资本支出强度资本支出/营收 | 0.1% | 29.4% |
| 现金转化率经营现金流/净利润 | — | 2.99× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $30.3M |
8季度趋势，按日历期对齐
经营现金流APLSMCW
| Q4 25 | $-14.2M | $60.0M | ||
| Q3 25 | $108.5M | $91.4M | ||
| Q2 25 | $4.4M | $46.8M | ||
| Q1 25 | $-53.4M | $87.5M | ||
| Q4 24 | $19.4M | $49.8M | ||
| Q3 24 | $34.1M | $80.0M | ||
| Q2 24 | $-8.3M | $60.9M | ||
| Q1 24 | $-133.0M | $58.0M |
自由现金流APLSMCW
| Q4 25 | $-14.3M | $-16.8M | ||
| Q3 25 | $108.3M | $25.8M | ||
| Q2 25 | $4.4M | $-11.2M | ||
| Q1 25 | $-53.4M | $32.5M | ||
| Q4 24 | $19.3M | $-20.4M | ||
| Q3 24 | — | $-16.8M | ||
| Q2 24 | $-8.4M | $-20.4M | ||
| Q1 24 | $-133.3M | $-23.9M |
自由现金流率APLSMCW
| Q4 25 | -7.1% | -6.4% | ||
| Q3 25 | 23.6% | 9.8% | ||
| Q2 25 | 2.5% | -4.2% | ||
| Q1 25 | -32.0% | 12.4% | ||
| Q4 24 | 9.1% | -8.1% | ||
| Q3 24 | — | -6.8% | ||
| Q2 24 | -4.2% | -8.0% | ||
| Q1 24 | -77.3% | -10.0% |
资本支出强度APLSMCW
| Q4 25 | 0.1% | 29.4% | ||
| Q3 25 | 0.0% | 24.9% | ||
| Q2 25 | 0.0% | 21.9% | ||
| Q1 25 | 0.0% | 21.1% | ||
| Q4 24 | 0.0% | 27.9% | ||
| Q3 24 | 0.0% | 38.8% | ||
| Q2 24 | 0.0% | 31.9% | ||
| Q1 24 | 0.2% | 34.2% |
现金转化率APLSMCW
| Q4 25 | — | 2.99× | ||
| Q3 25 | 0.50× | 3.33× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | — | 3.24× | ||
| Q4 24 | — | 5.43× | ||
| Q3 24 | — | 3.58× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 3.49× |
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% |
MCW
| Transferred Over Time | $205.7M | 79% |
| Transferred At Point In Time | $55.2M | 21% |
