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Apellis Pharmaceuticals, Inc.（APLS）与MACH NATURAL RESOURCES LP（MNR）财务数据对比。点击上方公司名可切换其他公司
MACH NATURAL RESOURCES LP的季度营收约是Apellis Pharmaceuticals, Inc.的1.9倍（$387.5M vs $199.9M），MACH NATURAL RESOURCES LP净利率更高（18.9% vs -29.5%，领先48.3%），MACH NATURAL RESOURCES LP同比增速更快（65.0% vs -5.9%），过去两年MACH NATURAL RESOURCES LP的营收复合增速更高（27.3% 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。
Mach Natural Resources LP是一家总部位于美国的上游能源企业，主要从事石油、天然气及液化天然气的勘探、开发与生产业务，核心运营资产分布在二叠纪盆地等美国陆上油气产区，专注于开发低成本高收益资产，为利益相关方创造可持续回报。
APLS vs MNR — 直观对比
营收规模更大
MNR
是对方的1.9倍
$199.9M
营收增速更快
MNR
高出70.9%
-5.9%
净利率更高
MNR
高出48.3%
-29.5%
两年增速更快
MNR
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $387.5M |
| 净利润 | $-59.0M | $73.1M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 26.1% |
| 净利率 | -29.5% | 18.9% |
| 营收同比 | -5.9% | 65.0% |
| 净利润同比 | -62.2% | 100.2% |
| 每股收益（稀释后） | $-0.40 | $0.47 |
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APLSMNR
| Q4 25 | $199.9M | $387.5M | ||
| Q3 25 | $458.6M | $272.6M | ||
| Q2 25 | $178.5M | $288.5M | ||
| Q1 25 | $166.8M | $226.8M | ||
| Q4 24 | $212.5M | $234.9M | ||
| Q3 24 | $196.8M | $255.5M | ||
| Q2 24 | $199.7M | $240.0M | ||
| Q1 24 | $172.3M | $239.2M |
净利润APLSMNR
| Q4 25 | $-59.0M | $73.1M | ||
| Q3 25 | $215.7M | $-35.7M | ||
| Q2 25 | $-42.2M | $89.7M | ||
| Q1 25 | $-92.2M | $15.9M | ||
| Q4 24 | $-36.4M | $36.5M | ||
| Q3 24 | $-57.4M | $67.4M | ||
| Q2 24 | $-37.7M | $39.5M | ||
| Q1 24 | $-66.4M | $41.7M |
营业利润率APLSMNR
| Q4 25 | -25.6% | 26.1% | ||
| Q3 25 | 48.7% | -7.0% | ||
| Q2 25 | -18.6% | 38.6% | ||
| Q1 25 | -50.0% | 22.8% | ||
| Q4 24 | -12.3% | 24.9% | ||
| Q3 24 | -24.0% | 37.1% | ||
| Q2 24 | -14.7% | 29.4% | ||
| Q1 24 | -36.0% | 28.1% |
净利率APLSMNR
| Q4 25 | -29.5% | 18.9% | ||
| Q3 25 | 47.0% | -13.1% | ||
| Q2 25 | -23.6% | 31.1% | ||
| Q1 25 | -55.3% | 7.0% | ||
| Q4 24 | -17.1% | 15.5% | ||
| Q3 24 | -29.2% | 26.4% | ||
| Q2 24 | -18.9% | 16.5% | ||
| Q1 24 | -38.5% | 17.4% |
每股收益（稀释后）APLSMNR
| Q4 25 | $-0.40 | $0.47 | ||
| Q3 25 | $1.67 | $-0.28 | ||
| Q2 25 | $-0.33 | $0.76 | ||
| Q1 25 | $-0.74 | $0.14 | ||
| Q4 24 | $-0.30 | $0.34 | ||
| Q3 24 | $-0.46 | $0.70 | ||
| Q2 24 | $-0.30 | $0.42 | ||
| Q1 24 | $-0.54 | $0.44 |
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 | $42.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | — |
| 总资产 | $1.1B | $3.8B |
| 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APLSMNR
| Q4 25 | $466.2M | $42.6M | ||
| Q3 25 | $479.2M | $53.6M | ||
| Q2 25 | $370.0M | $13.8M | ||
| Q1 25 | $358.4M | $7.8M | ||
| Q4 24 | $411.3M | $105.8M | ||
| Q3 24 | $396.9M | $184.5M | ||
| Q2 24 | $360.1M | $144.6M | ||
| Q1 24 | $325.9M | $151.3M |
总债务APLSMNR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSMNR
| Q4 25 | $370.1M | — | ||
| Q3 25 | $401.2M | — | ||
| Q2 25 | $156.3M | — | ||
| Q1 25 | $164.2M | — | ||
| Q4 24 | $228.5M | — | ||
| Q3 24 | $237.1M | — | ||
| Q2 24 | $264.3M | — | ||
| Q1 24 | $266.7M | — |
总资产APLSMNR
| Q4 25 | $1.1B | $3.8B | ||
| Q3 25 | $1.1B | $3.8B | ||
| Q2 25 | $821.4M | $2.3B | ||
| Q1 25 | $807.3M | $2.2B | ||
| Q4 24 | $885.1M | $2.3B | ||
| Q3 24 | $901.9M | $2.3B | ||
| Q2 24 | $904.5M | $2.2B | ||
| Q1 24 | $831.9M | $2.3B |
负债/权益比APLSMNR
| 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 | $128.7M |
| 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 | — | 1.76× |
| 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APLSMNR
| Q4 25 | $-14.2M | $128.7M | ||
| Q3 25 | $108.5M | $105.5M | ||
| Q2 25 | $4.4M | $130.1M | ||
| Q1 25 | $-53.4M | $142.5M | ||
| Q4 24 | $19.4M | $133.7M | ||
| Q3 24 | $34.1M | $110.8M | ||
| Q2 24 | $-8.3M | $116.8M | ||
| Q1 24 | $-133.0M | $144.0M |
自由现金流APLSMNR
| 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APLSMNR
| 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APLSMNR
| 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APLSMNR
| Q4 25 | — | 1.76× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | 1.45× | ||
| Q1 25 | — | 8.97× | ||
| Q4 24 | — | 3.66× | ||
| Q3 24 | — | 1.64× | ||
| Q2 24 | — | 2.96× | ||
| Q1 24 | — | 3.45× |
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% |
MNR
| Oil Gas And Natural Gas Liquids Net | $331.0M | 85% |
| Natural Gas Liquids Reserves | $44.8M | 12% |
| Natural Gas Midstream | $8.6M | 2% |
| Products | $6.3M | 2% |
