vs
Apellis Pharmaceuticals, Inc.（APLS）与网件（NTGR）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是网件的1.1倍（$199.9M vs $182.5M），网件同比增速更快（0.0% vs -5.9%），网件自由现金流更多（$13.6M vs $-14.3M），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。
网件是总部位于美国加利福尼亚州圣何塞的计算机网络设备企业，在全球约22个国家设有分支机构，面向个人消费者、企业及服务提供商研发生产各类网络硬件，业务分为零售、商业客户、服务供应商三大板块。
APLS vs NTGR — 直观对比
营收规模更大
APLS
是对方的1.1倍
$182.5M
营收增速更快
NTGR
高出6.0%
-5.9%
自由现金流更多
NTGR
多$27.9M
$-14.3M
两年增速更快
APLS
近两年复合增速
5.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $182.5M |
| 净利润 | $-59.0M | — |
| 毛利率 | — | 40.4% |
| 营业利润率 | -25.6% | -2.6% |
| 净利率 | -29.5% | — |
| 营收同比 | -5.9% | 0.0% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $-0.03 |
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APLSNTGR
| Q4 25 | $199.9M | $182.5M | ||
| Q3 25 | $458.6M | $184.6M | ||
| Q2 25 | $178.5M | $170.5M | ||
| Q1 25 | $166.8M | $162.1M | ||
| Q4 24 | $212.5M | $182.4M | ||
| Q3 24 | $196.8M | $182.9M | ||
| Q2 24 | $199.7M | $143.9M | ||
| Q1 24 | $172.3M | $164.6M |
净利润APLSNTGR
| Q4 25 | $-59.0M | — | ||
| Q3 25 | $215.7M | $-4.8M | ||
| Q2 25 | $-42.2M | $-6.4M | ||
| Q1 25 | $-92.2M | $-6.0M | ||
| Q4 24 | $-36.4M | $-8.9M | ||
| Q3 24 | $-57.4M | $85.1M | ||
| Q2 24 | $-37.7M | $-45.2M | ||
| Q1 24 | $-66.4M | $-18.6M |
毛利率APLSNTGR
| Q4 25 | — | 40.4% | ||
| Q3 25 | — | 39.1% | ||
| Q2 25 | — | 37.5% | ||
| Q1 25 | — | 34.8% | ||
| Q4 24 | — | 32.6% | ||
| Q3 24 | — | 30.9% | ||
| Q2 24 | — | 22.1% | ||
| Q1 24 | — | 29.3% |
营业利润率APLSNTGR
| Q4 25 | -25.6% | -2.6% | ||
| Q3 25 | 48.7% | -3.8% | ||
| Q2 25 | -18.6% | -5.6% | ||
| Q1 25 | -50.0% | -7.9% | ||
| Q4 24 | -12.3% | -8.3% | ||
| Q3 24 | -24.0% | 52.4% | ||
| Q2 24 | -14.7% | -32.6% | ||
| Q1 24 | -36.0% | -13.2% |
净利率APLSNTGR
| Q4 25 | -29.5% | — | ||
| Q3 25 | 47.0% | -2.6% | ||
| Q2 25 | -23.6% | -3.8% | ||
| Q1 25 | -55.3% | -3.7% | ||
| Q4 24 | -17.1% | -4.9% | ||
| Q3 24 | -29.2% | 46.5% | ||
| Q2 24 | -18.9% | -31.4% | ||
| Q1 24 | -38.5% | -11.3% |
每股收益（稀释后）APLSNTGR
| Q4 25 | $-0.40 | $-0.03 | ||
| Q3 25 | $1.67 | $-0.17 | ||
| Q2 25 | $-0.33 | $-0.22 | ||
| Q1 25 | $-0.74 | $-0.21 | ||
| Q4 24 | $-0.30 | $-0.29 | ||
| Q3 24 | $-0.46 | $2.90 | ||
| Q2 24 | $-0.30 | $-1.56 | ||
| Q1 24 | $-0.54 | $-0.63 |
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 | $323.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $497.8M |
| 总资产 | $1.1B | $836.3M |
| 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APLSNTGR
| Q4 25 | $466.2M | $323.0M | ||
| Q3 25 | $479.2M | $326.4M | ||
| Q2 25 | $370.0M | $363.5M | ||
| Q1 25 | $358.4M | $391.9M | ||
| Q4 24 | $411.3M | $408.7M | ||
| Q3 24 | $396.9M | $395.7M | ||
| Q2 24 | $360.1M | $294.3M | ||
| Q1 24 | $325.9M | $289.4M |
总债务APLSNTGR
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSNTGR
| Q4 25 | $370.1M | $497.8M | ||
| Q3 25 | $401.2M | $506.8M | ||
| Q2 25 | $156.3M | $523.2M | ||
| Q1 25 | $164.2M | $534.2M | ||
| Q4 24 | $228.5M | $541.1M | ||
| Q3 24 | $237.1M | $550.3M | ||
| Q2 24 | $264.3M | $459.4M | ||
| Q1 24 | $266.7M | $511.4M |
总资产APLSNTGR
| Q4 25 | $1.1B | $836.3M | ||
| Q3 25 | $1.1B | $810.8M | ||
| Q2 25 | $821.4M | $803.5M | ||
| Q1 25 | $807.3M | $814.2M | ||
| Q4 24 | $885.1M | $850.2M | ||
| Q3 24 | $901.9M | $862.6M | ||
| Q2 24 | $904.5M | $754.1M | ||
| Q1 24 | $831.9M | $801.3M |
负债/权益比APLSNTGR
| 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 | $19.5M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $13.6M |
| 自由现金流率自由现金流/营收 | -7.1% | 7.5% |
| 资本支出强度资本支出/营收 | 0.1% | 3.2% |
| 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 | $-18.9M |
8季度趋势，按日历期对齐
经营现金流APLSNTGR
| Q4 25 | $-14.2M | $19.5M | ||
| Q3 25 | $108.5M | $-7.4M | ||
| Q2 25 | $4.4M | $-1.8M | ||
| Q1 25 | $-53.4M | $-8.7M | ||
| Q4 24 | $19.4M | $21.5M | ||
| Q3 24 | $34.1M | $107.7M | ||
| Q2 24 | $-8.3M | $18.4M | ||
| Q1 24 | $-133.0M | $17.2M |
自由现金流APLSNTGR
| Q4 25 | $-14.3M | $13.6M | ||
| Q3 25 | $108.3M | $-17.1M | ||
| Q2 25 | $4.4M | $-5.3M | ||
| Q1 25 | $-53.4M | $-10.1M | ||
| Q4 24 | $19.3M | $19.0M | ||
| Q3 24 | — | $106.0M | ||
| Q2 24 | $-8.4M | $16.1M | ||
| Q1 24 | $-133.3M | $14.7M |
自由现金流率APLSNTGR
| Q4 25 | -7.1% | 7.5% | ||
| Q3 25 | 23.6% | -9.3% | ||
| Q2 25 | 2.5% | -3.1% | ||
| Q1 25 | -32.0% | -6.3% | ||
| Q4 24 | 9.1% | 10.4% | ||
| Q3 24 | — | 58.0% | ||
| Q2 24 | -4.2% | 11.2% | ||
| Q1 24 | -77.3% | 8.9% |
资本支出强度APLSNTGR
| Q4 25 | 0.1% | 3.2% | ||
| Q3 25 | 0.0% | 5.3% | ||
| Q2 25 | 0.0% | 2.1% | ||
| Q1 25 | 0.0% | 0.9% | ||
| Q4 24 | 0.0% | 1.4% | ||
| Q3 24 | 0.0% | 0.9% | ||
| Q2 24 | 0.0% | 1.6% | ||
| Q1 24 | 0.2% | 1.5% |
现金转化率APLSNTGR
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.27× | ||
| 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% |
NTGR
| Other | $93.4M | 51% |
| Sales Channel Directly To Consumer | $89.1M | 49% |
