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Apellis Pharmaceuticals, Inc.（APLS）与迈梭电子（MEI）财务数据对比。点击上方公司名可切换其他公司
迈梭电子的季度营收约是Apellis Pharmaceuticals, Inc.的1.2倍（$246.9M vs $199.9M），迈梭电子净利率更高（-4.0% vs -29.5%，领先25.5%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -15.6%），迈梭电子自由现金流更多（$-11.6M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -2.5%）
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。
迈梭电子是一家总部位于美国伊利诺伊州芝加哥的跨国企业，主要业务涵盖工程研发、生产制造与销售服务，目前在全球14个国家设有超过35个运营网点，全球员工总数约6500人。
APLS vs MEI — 直观对比
营收规模更大
MEI
是对方的1.2倍
$199.9M
营收增速更快
APLS
高出9.7%
-15.6%
净利率更高
MEI
高出25.5%
-29.5%
自由现金流更多
MEI
多$2.7M
$-14.3M
两年增速更快
APLS
近两年复合增速
-2.5%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $246.9M |
| 净利润 | $-59.0M | $-9.9M |
| 毛利率 | — | 19.3% |
| 营业利润率 | -25.6% | 1.2% |
| 净利率 | -29.5% | -4.0% |
| 营收同比 | -5.9% | -15.6% |
| 净利润同比 | -62.2% | -518.8% |
| 每股收益（稀释后） | $-0.40 | $-0.28 |
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APLSMEI
| Q4 25 | $199.9M | $246.9M | ||
| Q3 25 | $458.6M | $240.5M | ||
| Q2 25 | $178.5M | $257.1M | ||
| Q1 25 | $166.8M | $239.9M | ||
| Q4 24 | $212.5M | $292.6M | ||
| Q3 24 | $196.8M | $258.5M | ||
| Q2 24 | $199.7M | $277.3M | ||
| Q1 24 | $172.3M | $259.5M |
净利润APLSMEI
| Q4 25 | $-59.0M | $-9.9M | ||
| Q3 25 | $215.7M | $-10.3M | ||
| Q2 25 | $-42.2M | $-28.3M | ||
| Q1 25 | $-92.2M | $-14.4M | ||
| Q4 24 | $-36.4M | $-1.6M | ||
| Q3 24 | $-57.4M | $-18.3M | ||
| Q2 24 | $-37.7M | $-57.3M | ||
| Q1 24 | $-66.4M | $-11.6M |
毛利率APLSMEI
| Q4 25 | — | 19.3% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | 17.2% | ||
| Q4 24 | — | 19.8% | ||
| Q3 24 | — | 17.3% | ||
| Q2 24 | — | 12.8% | ||
| Q1 24 | — | 14.3% |
营业利润率APLSMEI
| Q4 25 | -25.6% | 1.2% | ||
| Q3 25 | 48.7% | 0.5% | ||
| Q2 25 | -18.6% | -9.2% | ||
| Q1 25 | -50.0% | -0.9% | ||
| Q4 24 | -12.3% | 3.2% | ||
| Q3 24 | -24.0% | -2.9% | ||
| Q2 24 | -14.7% | -22.2% | ||
| Q1 24 | -36.0% | -1.2% |
净利率APLSMEI
| Q4 25 | -29.5% | -4.0% | ||
| Q3 25 | 47.0% | -4.3% | ||
| Q2 25 | -23.6% | -11.0% | ||
| Q1 25 | -55.3% | -6.0% | ||
| Q4 24 | -17.1% | -0.5% | ||
| Q3 24 | -29.2% | -7.1% | ||
| Q2 24 | -18.9% | -20.7% | ||
| Q1 24 | -38.5% | -4.5% |
每股收益（稀释后）APLSMEI
| Q4 25 | $-0.40 | $-0.28 | ||
| Q3 25 | $1.67 | $-0.29 | ||
| Q2 25 | $-0.33 | $-0.79 | ||
| Q1 25 | $-0.74 | $-0.41 | ||
| Q4 24 | $-0.30 | $-0.05 | ||
| Q3 24 | $-0.46 | $-0.52 | ||
| Q2 24 | $-0.30 | $-1.62 | ||
| Q1 24 | $-0.54 | $-0.33 |
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 | $118.5M |
| 总债务越低越好 | — | $332.5M |
| 股东权益账面价值 | $370.1M | $679.3M |
| 总资产 | $1.1B | $1.3B |
| 负债/权益比越低杠杆越低 | — | 0.49× |
8季度趋势，按日历期对齐
现金及短期投资APLSMEI
| Q4 25 | $466.2M | $118.5M | ||
| Q3 25 | $479.2M | $121.1M | ||
| Q2 25 | $370.0M | $103.6M | ||
| Q1 25 | $358.4M | $103.8M | ||
| Q4 24 | $411.3M | $97.0M | ||
| Q3 24 | $396.9M | $111.3M | ||
| Q2 24 | $360.1M | $161.5M | ||
| Q1 24 | $325.9M | $122.9M |
总债务APLSMEI
| Q4 25 | — | $332.5M | ||
| Q3 25 | — | $323.4M | ||
| Q2 25 | — | $317.6M | ||
| Q1 25 | — | $327.9M | ||
| Q4 24 | — | $340.6M | ||
| Q3 24 | — | $296.0M | ||
| Q2 24 | — | $330.9M | ||
| Q1 24 | $93.1M | $331.3M |
股东权益APLSMEI
| Q4 25 | $370.1M | $679.3M | ||
| Q3 25 | $401.2M | $688.1M | ||
| Q2 25 | $156.3M | $693.3M | ||
| Q1 25 | $164.2M | $704.3M | ||
| Q4 24 | $228.5M | $738.3M | ||
| Q3 24 | $237.1M | $744.4M | ||
| Q2 24 | $264.3M | $766.0M | ||
| Q1 24 | $266.7M | $835.0M |
总资产APLSMEI
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $821.4M | $1.3B | ||
| Q1 25 | $807.3M | $1.3B | ||
| Q4 24 | $885.1M | $1.4B | ||
| Q3 24 | $901.9M | $1.4B | ||
| Q2 24 | $904.5M | $1.4B | ||
| Q1 24 | $831.9M | $1.5B |
负债/权益比APLSMEI
| Q4 25 | — | 0.49× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.43× | ||
| Q1 24 | 0.35× | 0.40× |
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 | $-7.4M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-11.6M |
| 自由现金流率自由现金流/营收 | -7.1% | -4.7% |
| 资本支出强度资本支出/营收 | 0.1% | 1.7% |
| 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 | $52.3M |
8季度趋势，按日历期对齐
经营现金流APLSMEI
| Q4 25 | $-14.2M | $-7.4M | ||
| Q3 25 | $108.5M | $25.1M | ||
| Q2 25 | $4.4M | $35.4M | ||
| Q1 25 | $-53.4M | $28.1M | ||
| Q4 24 | $19.4M | $-48.0M | ||
| Q3 24 | $34.1M | $10.9M | ||
| Q2 24 | $-8.3M | $24.9M | ||
| Q1 24 | $-133.0M | $28.8M |
自由现金流APLSMEI
| Q4 25 | $-14.3M | $-11.6M | ||
| Q3 25 | $108.3M | $18.0M | ||
| Q2 25 | $4.4M | $26.3M | ||
| Q1 25 | $-53.4M | $19.6M | ||
| Q4 24 | $19.3M | $-58.4M | ||
| Q3 24 | — | $-2.7M | ||
| Q2 24 | $-8.4M | $15.8M | ||
| Q1 24 | $-133.3M | $12.2M |
自由现金流率APLSMEI
| Q4 25 | -7.1% | -4.7% | ||
| Q3 25 | 23.6% | 7.5% | ||
| Q2 25 | 2.5% | 10.2% | ||
| Q1 25 | -32.0% | 8.2% | ||
| Q4 24 | 9.1% | -20.0% | ||
| Q3 24 | — | -1.0% | ||
| Q2 24 | -4.2% | 5.7% | ||
| Q1 24 | -77.3% | 4.7% |
资本支出强度APLSMEI
| Q4 25 | 0.1% | 1.7% | ||
| Q3 25 | 0.0% | 3.0% | ||
| Q2 25 | 0.0% | 3.5% | ||
| Q1 25 | 0.0% | 3.5% | ||
| Q4 24 | 0.0% | 3.6% | ||
| Q3 24 | 0.0% | 5.3% | ||
| Q2 24 | 0.0% | 3.3% | ||
| Q1 24 | 0.2% | 6.4% |
现金转化率APLSMEI
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
MEI
暂无分部数据
