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Apellis Pharmaceuticals, Inc.（APLS）与丰田北美（MPAA）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是丰田北美的1.2倍（$199.9M vs $167.7M），丰田北美净利率更高（1.1% vs -29.5%，领先30.5%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -9.9%），丰田北美自由现金流更多（$-8.6M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -5.9%）
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。
丰田北美（TMNA）是丰田汽车旗下负责加拿大、墨西哥及美国全境业务的运营子公司，业务范围覆盖研发、生产制造、销售营销、售后及企业管理等板块，相关核心业务由TMNA统筹，部分板块由其他子公司及控股企业负责执行，公司总部位于得克萨斯州普莱诺，在肯塔基州乔治敦等多地设有分支机构。
APLS vs MPAA — 直观对比
营收规模更大
APLS
是对方的1.2倍
$167.7M
营收增速更快
APLS
高出4.0%
-9.9%
净利率更高
MPAA
高出30.5%
-29.5%
自由现金流更多
MPAA
多$5.6M
$-14.3M
两年增速更快
APLS
近两年复合增速
-5.9%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $167.7M |
| 净利润 | $-59.0M | $1.8M |
| 毛利率 | — | 19.6% |
| 营业利润率 | -25.6% | 5.0% |
| 净利率 | -29.5% | 1.1% |
| 营收同比 | -5.9% | -9.9% |
| 净利润同比 | -62.2% | -22.4% |
| 每股收益（稀释后） | $-0.40 | $0.09 |
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APLSMPAA
| Q4 25 | $199.9M | $167.7M | ||
| Q3 25 | $458.6M | $221.5M | ||
| Q2 25 | $178.5M | $188.4M | ||
| Q1 25 | $166.8M | $193.1M | ||
| Q4 24 | $212.5M | $186.2M | ||
| Q3 24 | $196.8M | $208.2M | ||
| Q2 24 | $199.7M | $169.9M | ||
| Q1 24 | $172.3M | $189.5M |
净利润APLSMPAA
| Q4 25 | $-59.0M | $1.8M | ||
| Q3 25 | $215.7M | $-2.1M | ||
| Q2 25 | $-42.2M | $3.0M | ||
| Q1 25 | $-92.2M | $-722.0K | ||
| Q4 24 | $-36.4M | $2.3M | ||
| Q3 24 | $-57.4M | $-3.0M | ||
| Q2 24 | $-37.7M | $-18.1M | ||
| Q1 24 | $-66.4M | $1.3M |
毛利率APLSMPAA
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 19.3% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | 19.9% | ||
| Q4 24 | — | 24.1% | ||
| Q3 24 | — | 19.8% | ||
| Q2 24 | — | 17.2% | ||
| Q1 24 | — | 18.4% |
营业利润率APLSMPAA
| Q4 25 | -25.6% | 5.0% | ||
| Q3 25 | 48.7% | 7.4% | ||
| Q2 25 | -18.6% | 10.7% | ||
| Q1 25 | -50.0% | 8.4% | ||
| Q4 24 | -12.3% | 9.4% | ||
| Q3 24 | -24.0% | 6.0% | ||
| Q2 24 | -14.7% | -3.8% | ||
| Q1 24 | -36.0% | 6.4% |
净利率APLSMPAA
| Q4 25 | -29.5% | 1.1% | ||
| Q3 25 | 47.0% | -1.0% | ||
| Q2 25 | -23.6% | 1.6% | ||
| Q1 25 | -55.3% | -0.4% | ||
| Q4 24 | -17.1% | 1.2% | ||
| Q3 24 | -29.2% | -1.4% | ||
| Q2 24 | -18.9% | -10.6% | ||
| Q1 24 | -38.5% | 0.7% |
每股收益（稀释后）APLSMPAA
| Q4 25 | $-0.40 | $0.09 | ||
| Q3 25 | $1.67 | $-0.11 | ||
| Q2 25 | $-0.33 | $0.15 | ||
| Q1 25 | $-0.74 | $-0.03 | ||
| Q4 24 | $-0.30 | $0.11 | ||
| Q3 24 | $-0.46 | $-0.15 | ||
| Q2 24 | $-0.30 | $-0.92 | ||
| Q1 24 | $-0.54 | $0.06 |
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 | $19.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $258.5M |
| 总资产 | $1.1B | $991.3M |
| 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APLSMPAA
| Q4 25 | $466.2M | $19.6M | ||
| Q3 25 | $479.2M | $17.7M | ||
| Q2 25 | $370.0M | $14.5M | ||
| Q1 25 | $358.4M | $11.3M | ||
| Q4 24 | $411.3M | $12.7M | ||
| Q3 24 | $396.9M | $12.3M | ||
| Q2 24 | $360.1M | $9.4M | ||
| Q1 24 | $325.9M | $15.8M |
总债务APLSMPAA
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSMPAA
| Q4 25 | $370.1M | $258.5M | ||
| Q3 25 | $401.2M | $258.5M | ||
| Q2 25 | $156.3M | $260.1M | ||
| Q1 25 | $164.2M | $257.7M | ||
| Q4 24 | $228.5M | $262.7M | ||
| Q3 24 | $237.1M | $264.0M | ||
| Q2 24 | $264.3M | $267.2M | ||
| Q1 24 | $266.7M | $285.1M |
总资产APLSMPAA
| Q4 25 | $1.1B | $991.3M | ||
| Q3 25 | $1.1B | $990.0M | ||
| Q2 25 | $821.4M | $973.4M | ||
| Q1 25 | $807.3M | $957.6M | ||
| Q4 24 | $885.1M | $949.5M | ||
| Q3 24 | $901.9M | $986.2M | ||
| Q2 24 | $904.5M | $978.0M | ||
| Q1 24 | $831.9M | $1.0B |
负债/权益比APLSMPAA
| 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 | $-8.2M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-8.6M |
| 自由现金流率自由现金流/营收 | -7.1% | -5.2% |
| 资本支出强度资本支出/营收 | 0.1% | 0.2% |
| 现金转化率经营现金流/净利润 | — | -4.63× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $27.7M |
8季度趋势，按日历期对齐
经营现金流APLSMPAA
| Q4 25 | $-14.2M | $-8.2M | ||
| Q3 25 | $108.5M | $21.9M | ||
| Q2 25 | $4.4M | $10.0M | ||
| Q1 25 | $-53.4M | $9.1M | ||
| Q4 24 | $19.4M | $34.4M | ||
| Q3 24 | $34.1M | $22.9M | ||
| Q2 24 | $-8.3M | $-20.8M | ||
| Q1 24 | $-133.0M | $-9.3M |
自由现金流APLSMPAA
| Q4 25 | $-14.3M | $-8.6M | ||
| Q3 25 | $108.3M | $20.8M | ||
| Q2 25 | $4.4M | $9.2M | ||
| Q1 25 | $-53.4M | $6.2M | ||
| Q4 24 | $19.3M | $33.7M | ||
| Q3 24 | — | $22.3M | ||
| Q2 24 | $-8.4M | $-21.3M | ||
| Q1 24 | $-133.3M | $-9.8M |
自由现金流率APLSMPAA
| Q4 25 | -7.1% | -5.2% | ||
| Q3 25 | 23.6% | 9.4% | ||
| Q2 25 | 2.5% | 4.9% | ||
| Q1 25 | -32.0% | 3.2% | ||
| Q4 24 | 9.1% | 18.1% | ||
| Q3 24 | — | 10.7% | ||
| Q2 24 | -4.2% | -12.6% | ||
| Q1 24 | -77.3% | -5.2% |
资本支出强度APLSMPAA
| Q4 25 | 0.1% | 0.2% | ||
| Q3 25 | 0.0% | 0.5% | ||
| Q2 25 | 0.0% | 0.4% | ||
| Q1 25 | 0.0% | 1.5% | ||
| Q4 24 | 0.0% | 0.4% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.0% | 0.3% | ||
| Q1 24 | 0.2% | 0.3% |
现金转化率APLSMPAA
| Q4 25 | — | -4.63× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | 3.30× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 15.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -6.93× |
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% |
MPAA
| Reportable Segment Aggregation Before Other Operating Segment | $156.3M | 93% |
| Other | $11.4M | 7% |
