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Apellis Pharmaceuticals, Inc.（APLS）与Natural Grocers by Vitamin Cottage, Inc.（NGVC）财务数据对比。点击上方公司名可切换其他公司
Natural Grocers by Vitamin Cottage, Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.7倍（$335.6M vs $199.9M），Natural Grocers by Vitamin Cottage, Inc.净利率更高（3.4% vs -29.5%，领先32.9%），Natural Grocers by Vitamin Cottage, Inc.同比增速更快（1.6% vs -5.9%），Natural Grocers by Vitamin Cottage, Inc.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 4.4%）
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。
Natural Grocers by Vitamin Cottage, Inc.是美国本土的特色零售连锁企业，主营认证有机食品、膳食补充剂、天然个护及环保家居类产品，面向健康意识较强的消费群体，门店覆盖美国多州，执行严格品控标准，拒绝售卖含人工添加剂的商品。
APLS vs NGVC — 直观对比
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $335.6M |
| 净利润 | $-59.0M | $11.3M |
| 毛利率 | — | 29.5% |
| 营业利润率 | -25.6% | 4.4% |
| 净利率 | -29.5% | 3.4% |
| 营收同比 | -5.9% | 1.6% |
| 净利润同比 | -62.2% | 14.0% |
| 每股收益（稀释后） | $-0.40 | $0.49 |
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
| Q4 25 | $199.9M | $335.6M | ||
| Q3 25 | $458.6M | $336.1M | ||
| Q2 25 | $178.5M | $328.7M | ||
| Q1 25 | $166.8M | $335.8M | ||
| Q4 24 | $212.5M | $330.2M | ||
| Q3 24 | $196.8M | $322.7M | ||
| Q2 24 | $199.7M | $309.1M | ||
| Q1 24 | $172.3M | $308.1M |
| Q4 25 | $-59.0M | $11.3M | ||
| Q3 25 | $215.7M | $11.8M | ||
| Q2 25 | $-42.2M | $11.6M | ||
| Q1 25 | $-92.2M | $13.1M | ||
| Q4 24 | $-36.4M | $9.9M | ||
| Q3 24 | $-57.4M | $9.0M | ||
| Q2 24 | $-37.7M | $9.2M | ||
| Q1 24 | $-66.4M | $8.0M |
| Q4 25 | — | 29.5% | ||
| Q3 25 | — | 29.5% | ||
| Q2 25 | — | 29.9% | ||
| Q1 25 | — | 30.3% | ||
| Q4 24 | — | 29.9% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | — | 29.2% | ||
| Q1 24 | — | 29.3% |
| Q4 25 | -25.6% | 4.4% | ||
| Q3 25 | 48.7% | 4.6% | ||
| Q2 25 | -18.6% | 4.7% | ||
| Q1 25 | -50.0% | 5.2% | ||
| Q4 24 | -12.3% | 4.0% | ||
| Q3 24 | -24.0% | 3.7% | ||
| Q2 24 | -14.7% | 4.2% | ||
| Q1 24 | -36.0% | 3.7% |
| Q4 25 | -29.5% | 3.4% | ||
| Q3 25 | 47.0% | 3.5% | ||
| Q2 25 | -23.6% | 3.5% | ||
| Q1 25 | -55.3% | 3.9% | ||
| Q4 24 | -17.1% | 3.0% | ||
| Q3 24 | -29.2% | 2.8% | ||
| Q2 24 | -18.9% | 3.0% | ||
| Q1 24 | -38.5% | 2.6% |
| Q4 25 | $-0.40 | $0.49 | ||
| Q3 25 | $1.67 | $0.51 | ||
| Q2 25 | $-0.33 | $0.50 | ||
| Q1 25 | $-0.74 | $0.56 | ||
| Q4 24 | $-0.30 | $0.43 | ||
| Q3 24 | $-0.46 | $0.38 | ||
| Q2 24 | $-0.30 | $0.40 | ||
| Q1 24 | $-0.54 | $0.35 |
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 | $23.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $220.0M |
| 总资产 | $1.1B | $668.6M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | $466.2M | $23.2M | ||
| Q3 25 | $479.2M | $17.1M | ||
| Q2 25 | $370.0M | $13.2M | ||
| Q1 25 | $358.4M | $21.2M | ||
| Q4 24 | $411.3M | $6.3M | ||
| Q3 24 | $396.9M | $8.9M | ||
| Q2 24 | $360.1M | $13.9M | ||
| Q1 24 | $325.9M | $11.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
| Q4 25 | $370.1M | $220.0M | ||
| Q3 25 | $401.2M | $212.4M | ||
| Q2 25 | $156.3M | $202.5M | ||
| Q1 25 | $164.2M | $193.0M | ||
| Q4 24 | $228.5M | $181.9M | ||
| Q3 24 | $237.1M | $174.3M | ||
| Q2 24 | $264.3M | $167.8M | ||
| Q1 24 | $266.7M | $160.0M |
| Q4 25 | $1.1B | $668.6M | ||
| Q3 25 | $1.1B | $670.5M | ||
| Q2 25 | $821.4M | $659.0M | ||
| Q1 25 | $807.3M | $664.6M | ||
| Q4 24 | $885.1M | $648.9M | ||
| Q3 24 | $901.9M | $655.5M | ||
| Q2 24 | $904.5M | $654.4M | ||
| Q1 24 | $831.9M | $656.6M |
| 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 | $21.1M |
| 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% | 3.4% |
| 资本支出强度资本支出/营收 | 0.1% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 1.86× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $42.6M |
8季度趋势，按日历期对齐
| Q4 25 | $-14.2M | $21.1M | ||
| Q3 25 | $108.5M | $15.6M | ||
| Q2 25 | $4.4M | $2.9M | ||
| Q1 25 | $-53.4M | $34.1M | ||
| Q4 24 | $19.4M | $2.7M | ||
| Q3 24 | $34.1M | $24.5M | ||
| Q2 24 | $-8.3M | $12.4M | ||
| Q1 24 | $-133.0M | $20.2M |
| Q4 25 | $-14.3M | $11.6M | ||
| Q3 25 | $108.3M | $7.5M | ||
| Q2 25 | $4.4M | $-4.2M | ||
| Q1 25 | $-53.4M | $27.6M | ||
| Q4 24 | $19.3M | $-6.9M | ||
| Q3 24 | — | $18.0M | ||
| Q2 24 | $-8.4M | $3.6M | ||
| Q1 24 | $-133.3M | $9.8M |
| Q4 25 | -7.1% | 3.4% | ||
| Q3 25 | 23.6% | 2.2% | ||
| Q2 25 | 2.5% | -1.3% | ||
| Q1 25 | -32.0% | 8.2% | ||
| Q4 24 | 9.1% | -2.1% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | -4.2% | 1.2% | ||
| Q1 24 | -77.3% | 3.2% |
| Q4 25 | 0.1% | 2.9% | ||
| Q3 25 | 0.0% | 2.4% | ||
| Q2 25 | 0.0% | 2.2% | ||
| Q1 25 | 0.0% | 1.9% | ||
| Q4 24 | 0.0% | 2.9% | ||
| Q3 24 | 0.0% | 2.0% | ||
| Q2 24 | 0.0% | 2.9% | ||
| Q1 24 | 0.2% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | 0.50× | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | — | 2.54× |
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% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
