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Apellis Pharmaceuticals, Inc.（APLS）与NNN REIT, INC.（NNN）财务数据对比。点击上方公司名可切换其他公司
NNN REIT, INC.的季度营收约是Apellis Pharmaceuticals, Inc.的1.2倍（$240.4M vs $199.9M），NNN REIT, INC.净利率更高（39.1% vs -29.5%，领先68.6%），NNN REIT, INC.同比增速更快（4.1% vs -5.9%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 5.3%）
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。
NNN REIT是一家专业房地产投资信托机构，主要投资附带长期三净租约的餐饮类物业，交易多采用售后回租模式。公司注册地为美国马里兰州，总部位于佛罗里达州奥兰多市。
APLS vs NNN — 直观对比
营收规模更大
NNN
是对方的1.2倍
$199.9M
营收增速更快
NNN
高出10.1%
-5.9%
净利率更高
NNN
高出68.6%
-29.5%
两年增速更快
APLS
近两年复合增速
5.3%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $240.4M |
| 净利润 | $-59.0M | $94.0M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 61.0% |
| 净利率 | -29.5% | 39.1% |
| 营收同比 | -5.9% | 4.1% |
| 净利润同比 | -62.2% | -2.6% |
| 每股收益（稀释后） | $-0.40 | $0.50 |
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APLSNNN
| Q1 26 | — | $240.4M | ||
| Q4 25 | $199.9M | $238.4M | ||
| Q3 25 | $458.6M | $230.2M | ||
| Q2 25 | $178.5M | $226.8M | ||
| Q1 25 | $166.8M | $230.9M | ||
| Q4 24 | $212.5M | $218.5M | ||
| Q3 24 | $196.8M | $218.6M | ||
| Q2 24 | $199.7M | $216.8M |
净利润APLSNNN
| Q1 26 | — | $94.0M | ||
| Q4 25 | $-59.0M | $96.0M | ||
| Q3 25 | $215.7M | $96.8M | ||
| Q2 25 | $-42.2M | $100.5M | ||
| Q1 25 | $-92.2M | $96.5M | ||
| Q4 24 | $-36.4M | $97.9M | ||
| Q3 24 | $-57.4M | $97.9M | ||
| Q2 24 | $-37.7M | $106.7M |
营业利润率APLSNNN
| Q1 26 | — | 61.0% | ||
| Q4 25 | -25.6% | 62.3% | ||
| Q3 25 | 48.7% | 64.0% | ||
| Q2 25 | -18.6% | 66.0% | ||
| Q1 25 | -50.0% | 62.3% | ||
| Q4 24 | -12.3% | 65.8% | ||
| Q3 24 | -24.0% | 65.7% | ||
| Q2 24 | -14.7% | 70.2% |
净利率APLSNNN
| Q1 26 | — | 39.1% | ||
| Q4 25 | -29.5% | 40.2% | ||
| Q3 25 | 47.0% | 42.1% | ||
| Q2 25 | -23.6% | 44.3% | ||
| Q1 25 | -55.3% | 41.8% | ||
| Q4 24 | -17.1% | 44.8% | ||
| Q3 24 | -29.2% | 44.8% | ||
| Q2 24 | -18.9% | 49.2% |
每股收益（稀释后）APLSNNN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-0.40 | $0.51 | ||
| Q3 25 | $1.67 | $0.51 | ||
| Q2 25 | $-0.33 | $0.54 | ||
| Q1 25 | $-0.74 | $0.51 | ||
| Q4 24 | $-0.30 | $0.52 | ||
| Q3 24 | $-0.46 | $0.53 | ||
| Q2 24 | $-0.30 | $0.58 |
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 | $4.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $4.4B |
| 总资产 | $1.1B | $9.4B |
| 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APLSNNN
| Q1 26 | — | $4.6M | ||
| Q4 25 | $466.2M | $5.0M | ||
| Q3 25 | $479.2M | $157.9M | ||
| Q2 25 | $370.0M | $6.0M | ||
| Q1 25 | $358.4M | $5.1M | ||
| Q4 24 | $411.3M | $8.7M | ||
| Q3 24 | $396.9M | $173.5M | ||
| Q2 24 | $360.1M | $2.1M |
股东权益APLSNNN
| Q1 26 | — | $4.4B | ||
| Q4 25 | $370.1M | $4.4B | ||
| Q3 25 | $401.2M | $4.4B | ||
| Q2 25 | $156.3M | $4.4B | ||
| Q1 25 | $164.2M | $4.4B | ||
| Q4 24 | $228.5M | $4.4B | ||
| Q3 24 | $237.1M | $4.4B | ||
| Q2 24 | $264.3M | $4.2B |
总资产APLSNNN
| Q1 26 | — | $9.4B | ||
| Q4 25 | $1.1B | $9.4B | ||
| Q3 25 | $1.1B | $9.5B | ||
| Q2 25 | $821.4M | $9.1B | ||
| Q1 25 | $807.3M | $9.0B | ||
| Q4 24 | $885.1M | $8.9B | ||
| Q3 24 | $901.9M | $8.9B | ||
| Q2 24 | $904.5M | $8.7B |
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 | — |
| 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 | — | — |
| 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APLSNNN
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $667.1M | ||
| Q3 25 | $108.5M | $218.3M | ||
| Q2 25 | $4.4M | $119.4M | ||
| Q1 25 | $-53.4M | $203.3M | ||
| Q4 24 | $19.4M | $635.5M | ||
| Q3 24 | $34.1M | $206.6M | ||
| Q2 24 | $-8.3M | $120.5M |
自由现金流APLSNNN
| Q1 26 | — | — | ||
| 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 | — |
自由现金流率APLSNNN
| Q1 26 | — | — | ||
| 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% | — |
资本支出强度APLSNNN
| Q1 26 | — | — | ||
| 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% | — |
现金转化率APLSNNN
| Q1 26 | — | — | ||
| Q4 25 | — | 6.95× | ||
| Q3 25 | 0.50× | 2.25× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | — | 2.11× | ||
| Q4 24 | — | 6.49× | ||
| Q3 24 | — | 2.11× | ||
| Q2 24 | — | 1.13× |
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% |
NNN
暂无分部数据
