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Apellis Pharmaceuticals, Inc.（APLS）与Northwest Natural Holding Co（NWN）财务数据对比。点击上方公司名可切换其他公司
Northwest Natural Holding Co的季度营收约是Apellis Pharmaceuticals, Inc.的2.0倍（$394.2M vs $199.9M），Northwest Natural Holding Co同比增速更快（6.3% vs -5.9%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-131.0M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -4.6%）
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。
西北天然气控股公司是美国上市公用事业企业，总部位于俄勒冈州波特兰，成立于1859年。核心业务为天然气配送，服务俄勒冈州西部、华盛顿州西南部的居民、商业及工业客户，同时运营水务业务，目前服务约80万用户，年营收超10亿美元。
APLS vs NWN — 直观对比
营收规模更大
NWN
是对方的2.0倍
$199.9M
营收增速更快
NWN
高出12.2%
-5.9%
自由现金流更多
APLS
多$116.7M
$-131.0M
两年增速更快
APLS
近两年复合增速
-4.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $394.2M |
| 净利润 | $-59.0M | — |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 28.4% |
| 净利率 | -29.5% | — |
| 营收同比 | -5.9% | 6.3% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $1.38 |
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APLSNWN
| Q4 25 | $199.9M | $394.2M | ||
| Q3 25 | $458.6M | $164.7M | ||
| Q2 25 | $178.5M | $236.2M | ||
| Q1 25 | $166.8M | $494.3M | ||
| Q4 24 | $212.5M | $370.9M | ||
| Q3 24 | $196.8M | $136.9M | ||
| Q2 24 | $199.7M | $211.7M | ||
| Q1 24 | $172.3M | $433.5M |
净利润APLSNWN
| Q4 25 | $-59.0M | — | ||
| Q3 25 | $215.7M | $-29.9M | ||
| Q2 25 | $-42.2M | $-2.5M | ||
| Q1 25 | $-92.2M | $87.9M | ||
| Q4 24 | $-36.4M | — | ||
| Q3 24 | $-57.4M | $-27.2M | ||
| Q2 24 | $-37.7M | $-2.8M | ||
| Q1 24 | $-66.4M | $63.8M |
营业利润率APLSNWN
| Q4 25 | -25.6% | 28.4% | ||
| Q3 25 | 48.7% | -7.5% | ||
| Q2 25 | -18.6% | 11.5% | ||
| Q1 25 | -50.0% | 31.2% | ||
| Q4 24 | -12.3% | 22.9% | ||
| Q3 24 | -24.0% | -14.1% | ||
| Q2 24 | -14.7% | 7.4% | ||
| Q1 24 | -36.0% | 25.3% |
净利率APLSNWN
| Q4 25 | -29.5% | — | ||
| Q3 25 | 47.0% | -18.1% | ||
| Q2 25 | -23.6% | -1.1% | ||
| Q1 25 | -55.3% | 17.8% | ||
| Q4 24 | -17.1% | — | ||
| Q3 24 | -29.2% | -19.8% | ||
| Q2 24 | -18.9% | -1.3% | ||
| Q1 24 | -38.5% | 14.7% |
每股收益（稀释后）APLSNWN
| Q4 25 | $-0.40 | $1.38 | ||
| Q3 25 | $1.67 | $-0.73 | ||
| Q2 25 | $-0.33 | $-0.06 | ||
| Q1 25 | $-0.74 | $2.18 | ||
| Q4 24 | $-0.30 | $1.12 | ||
| Q3 24 | $-0.46 | $-0.71 | ||
| Q2 24 | $-0.30 | $-0.07 | ||
| Q1 24 | $-0.54 | $1.69 |
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 | $36.7M |
| 总债务越低越好 | — | $2.4B |
| 股东权益账面价值 | $370.1M | $1.5B |
| 总资产 | $1.1B | $6.2B |
| 负债/权益比越低杠杆越低 | — | 1.65× |
8季度趋势，按日历期对齐
现金及短期投资APLSNWN
| Q4 25 | $466.2M | $36.7M | ||
| Q3 25 | $479.2M | $32.2M | ||
| Q2 25 | $370.0M | $102.6M | ||
| Q1 25 | $358.4M | $100.0M | ||
| Q4 24 | $411.3M | $38.5M | ||
| Q3 24 | $396.9M | $35.0M | ||
| Q2 24 | $360.1M | $65.2M | ||
| Q1 24 | $325.9M | $72.4M |
总债务APLSNWN
| Q4 25 | — | $2.4B | ||
| Q3 25 | — | $2.2B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.2B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.6B | ||
| Q2 24 | — | $1.6B | ||
| Q1 24 | $93.1M | $1.6B |
股东权益APLSNWN
| Q4 25 | $370.1M | $1.5B | ||
| Q3 25 | $401.2M | $1.4B | ||
| Q2 25 | $156.3M | $1.5B | ||
| Q1 25 | $164.2M | $1.5B | ||
| Q4 24 | $228.5M | $1.4B | ||
| Q3 24 | $237.1M | $1.4B | ||
| Q2 24 | $264.3M | $1.3B | ||
| Q1 24 | $266.7M | $1.3B |
总资产APLSNWN
| Q4 25 | $1.1B | $6.2B | ||
| Q3 25 | $1.1B | $5.9B | ||
| Q2 25 | $821.4M | $5.8B | ||
| Q1 25 | $807.3M | $5.7B | ||
| Q4 24 | $885.1M | $5.2B | ||
| Q3 24 | $901.9M | $4.9B | ||
| Q2 24 | $904.5M | $4.8B | ||
| Q1 24 | $831.9M | $4.8B |
负债/权益比APLSNWN
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.56× | ||
| Q2 25 | — | 1.53× | ||
| Q1 25 | — | 1.53× | ||
| Q4 24 | — | 1.23× | ||
| Q3 24 | — | 1.16× | ||
| Q2 24 | — | 1.17× | ||
| Q1 24 | 0.35× | 1.17× |
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 | $3.3M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-131.0M |
| 自由现金流率自由现金流/营收 | -7.1% | -33.2% |
| 资本支出强度资本支出/营收 | 0.1% | 34.1% |
| 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 | $-197.8M |
8季度趋势，按日历期对齐
经营现金流APLSNWN
| Q4 25 | $-14.2M | $3.3M | ||
| Q3 25 | $108.5M | $-15.9M | ||
| Q2 25 | $4.4M | $102.2M | ||
| Q1 25 | $-53.4M | $179.6M | ||
| Q4 24 | $19.4M | $-19.4M | ||
| Q3 24 | $34.1M | $-26.4M | ||
| Q2 24 | $-8.3M | $121.0M | ||
| Q1 24 | $-133.0M | $125.0M |
自由现金流APLSNWN
| Q4 25 | $-14.3M | $-131.0M | ||
| Q3 25 | $108.3M | $-125.9M | ||
| Q2 25 | $4.4M | $-18.3M | ||
| Q1 25 | $-53.4M | $77.4M | ||
| Q4 24 | $19.3M | $-119.6M | ||
| Q3 24 | — | $-121.7M | ||
| Q2 24 | $-8.4M | $4.3M | ||
| Q1 24 | $-133.3M | $42.8M |
自由现金流率APLSNWN
| Q4 25 | -7.1% | -33.2% | ||
| Q3 25 | 23.6% | -76.4% | ||
| Q2 25 | 2.5% | -7.8% | ||
| Q1 25 | -32.0% | 15.7% | ||
| Q4 24 | 9.1% | -32.2% | ||
| Q3 24 | — | -88.9% | ||
| Q2 24 | -4.2% | 2.0% | ||
| Q1 24 | -77.3% | 9.9% |
资本支出强度APLSNWN
| Q4 25 | 0.1% | 34.1% | ||
| Q3 25 | 0.0% | 66.8% | ||
| Q2 25 | 0.0% | 51.0% | ||
| Q1 25 | 0.0% | 20.7% | ||
| Q4 24 | 0.0% | 27.0% | ||
| Q3 24 | 0.0% | 69.6% | ||
| Q2 24 | 0.0% | 55.1% | ||
| Q1 24 | 0.2% | 19.0% |
现金转化率APLSNWN
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.96× |
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% |
NWN
| NWN Gas Utility | $341.4M | 87% |
| Alternativerevenue | $27.2M | 7% |
| Si Energy Gas Utility | $20.0M | 5% |
| NW Natural Other | $6.9M | 2% |
