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Apellis Pharmaceuticals, Inc.（APLS）与OLAPLEX HOLDINGS, INC.（OLPX）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OLAPLEX HOLDINGS, INC.的1.9倍（$199.9M vs $105.1M），OLAPLEX HOLDINGS, INC.净利率更高（-12.5% vs -29.5%，领先17.0%），OLAPLEX HOLDINGS, INC.同比增速更快（4.3% vs -5.9%），OLAPLEX HOLDINGS, INC.自由现金流更多（$32.6M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 3.1%）
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。
Olaplex Holdings是一家专业美容企业，主打专利头发键结构修复护发产品，运营沙龙专业分销、直面消费者销售、第三方零售三大核心板块，产品可修复烫染、高温等导致的发质损伤，销售网络覆盖北美、欧洲及亚太地区。
APLS vs OLPX — 直观对比
营收规模更大
APLS
是对方的1.9倍
$105.1M
营收增速更快
OLPX
高出10.3%
-5.9%
净利率更高
OLPX
高出17.0%
-29.5%
自由现金流更多
OLPX
多$46.8M
$-14.3M
两年增速更快
APLS
近两年复合增速
3.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $105.1M |
| 净利润 | $-59.0M | $-13.1M |
| 毛利率 | — | 68.0% |
| 营业利润率 | -25.6% | -4.3% |
| 净利率 | -29.5% | -12.5% |
| 营收同比 | -5.9% | 4.3% |
| 净利润同比 | -62.2% | -48.9% |
| 每股收益（稀释后） | $-0.40 | $-0.02 |
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APLSOLPX
| Q4 25 | $199.9M | $105.1M | ||
| Q3 25 | $458.6M | $114.6M | ||
| Q2 25 | $178.5M | $106.3M | ||
| Q1 25 | $166.8M | $97.0M | ||
| Q4 24 | $212.5M | $100.7M | ||
| Q3 24 | $196.8M | $119.1M | ||
| Q2 24 | $199.7M | $103.9M | ||
| Q1 24 | $172.3M | $98.9M |
净利润APLSOLPX
| Q4 25 | $-59.0M | $-13.1M | ||
| Q3 25 | $215.7M | $11.1M | ||
| Q2 25 | $-42.2M | $-7.7M | ||
| Q1 25 | $-92.2M | $465.0K | ||
| Q4 24 | $-36.4M | $-8.8M | ||
| Q3 24 | $-57.4M | $14.8M | ||
| Q2 24 | $-37.7M | $5.8M | ||
| Q1 24 | $-66.4M | $7.7M |
毛利率APLSOLPX
| Q4 25 | — | 68.0% | ||
| Q3 25 | — | 69.1% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | — | 69.5% | ||
| Q4 24 | — | 66.3% | ||
| Q3 24 | — | 68.6% | ||
| Q2 24 | — | 69.7% | ||
| Q1 24 | — | 72.1% |
营业利润率APLSOLPX
| Q4 25 | -25.6% | -4.3% | ||
| Q3 25 | 48.7% | 3.7% | ||
| Q2 25 | -18.6% | -1.1% | ||
| Q1 25 | -50.0% | 8.7% | ||
| Q4 24 | -12.3% | 3.0% | ||
| Q3 24 | -24.0% | 23.5% | ||
| Q2 24 | -14.7% | 15.7% | ||
| Q1 24 | -36.0% | 19.8% |
净利率APLSOLPX
| Q4 25 | -29.5% | -12.5% | ||
| Q3 25 | 47.0% | 9.7% | ||
| Q2 25 | -23.6% | -7.3% | ||
| Q1 25 | -55.3% | 0.5% | ||
| Q4 24 | -17.1% | -8.7% | ||
| Q3 24 | -29.2% | 12.4% | ||
| Q2 24 | -18.9% | 5.6% | ||
| Q1 24 | -38.5% | 7.8% |
每股收益（稀释后）APLSOLPX
| Q4 25 | $-0.40 | $-0.02 | ||
| Q3 25 | $1.67 | $0.02 | ||
| Q2 25 | $-0.33 | $-0.01 | ||
| Q1 25 | $-0.74 | $0.00 | ||
| Q4 24 | $-0.30 | $-0.01 | ||
| Q3 24 | $-0.46 | $0.02 | ||
| Q2 24 | $-0.30 | $0.01 | ||
| Q1 24 | $-0.54 | $0.01 |
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 | $318.7M |
| 总债务越低越好 | — | $352.3M |
| 股东权益账面价值 | $370.1M | $879.4M |
| 总资产 | $1.1B | $1.5B |
| 负债/权益比越低杠杆越低 | — | 0.40× |
8季度趋势，按日历期对齐
现金及短期投资APLSOLPX
| Q4 25 | $466.2M | $318.7M | ||
| Q3 25 | $479.2M | $286.4M | ||
| Q2 25 | $370.0M | $289.3M | ||
| Q1 25 | $358.4M | $580.9M | ||
| Q4 24 | $411.3M | $586.0M | ||
| Q3 24 | $396.9M | $538.8M | ||
| Q2 24 | $360.1M | $507.9M | ||
| Q1 24 | $325.9M | $507.5M |
总债务APLSOLPX
| Q4 25 | — | $352.3M | ||
| Q3 25 | — | $352.1M | ||
| Q2 25 | — | $351.9M | ||
| Q1 25 | — | $649.1M | ||
| Q4 24 | — | $650.5M | ||
| Q3 24 | — | $651.8M | ||
| Q2 24 | — | $653.1M | ||
| Q1 24 | $93.1M | $654.4M |
股东权益APLSOLPX
| Q4 25 | $370.1M | $879.4M | ||
| Q3 25 | $401.2M | $888.7M | ||
| Q2 25 | $156.3M | $874.2M | ||
| Q1 25 | $164.2M | $878.3M | ||
| Q4 24 | $228.5M | $874.4M | ||
| Q3 24 | $237.1M | $879.7M | ||
| Q2 24 | $264.3M | $863.3M | ||
| Q1 24 | $266.7M | $855.7M |
总资产APLSOLPX
| Q4 25 | $1.1B | $1.5B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $821.4M | $1.5B | ||
| Q1 25 | $807.3M | $1.8B | ||
| Q4 24 | $885.1M | $1.8B | ||
| Q3 24 | $901.9M | $1.8B | ||
| Q2 24 | $904.5M | $1.8B | ||
| Q1 24 | $831.9M | $1.8B |
负债/权益比APLSOLPX
| Q4 25 | — | 0.40× | ||
| Q3 25 | — | 0.40× | ||
| Q2 25 | — | 0.40× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.74× | ||
| Q2 24 | — | 0.76× | ||
| Q1 24 | 0.35× | 0.76× |
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 | $32.7M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $32.6M |
| 自由现金流率自由现金流/营收 | -7.1% | 31.0% |
| 资本支出强度资本支出/营收 | 0.1% | 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 | $58.3M |
8季度趋势，按日历期对齐
经营现金流APLSOLPX
| Q4 25 | $-14.2M | $32.7M | ||
| Q3 25 | $108.5M | $8.0M | ||
| Q2 25 | $4.4M | $20.9M | ||
| Q1 25 | $-53.4M | $-2.9M | ||
| Q4 24 | $19.4M | $49.7M | ||
| Q3 24 | $34.1M | $33.5M | ||
| Q2 24 | $-8.3M | $16.2M | ||
| Q1 24 | $-133.0M | $43.7M |
自由现金流APLSOLPX
| Q4 25 | $-14.3M | $32.6M | ||
| Q3 25 | $108.3M | $7.9M | ||
| Q2 25 | $4.4M | $20.8M | ||
| Q1 25 | $-53.4M | $-3.0M | ||
| Q4 24 | $19.3M | $49.2M | ||
| Q3 24 | — | $33.3M | ||
| Q2 24 | $-8.4M | $16.1M | ||
| Q1 24 | $-133.3M | $43.3M |
自由现金流率APLSOLPX
| Q4 25 | -7.1% | 31.0% | ||
| Q3 25 | 23.6% | 6.9% | ||
| Q2 25 | 2.5% | 19.6% | ||
| Q1 25 | -32.0% | -3.1% | ||
| Q4 24 | 9.1% | 48.9% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | -4.2% | 15.5% | ||
| Q1 24 | -77.3% | 43.7% |
资本支出强度APLSOLPX
| Q4 25 | 0.1% | 0.1% | ||
| Q3 25 | 0.0% | 0.1% | ||
| Q2 25 | 0.0% | 0.1% | ||
| Q1 25 | 0.0% | 0.0% | ||
| Q4 24 | 0.0% | 0.4% | ||
| Q3 24 | 0.0% | 0.1% | ||
| Q2 24 | 0.0% | 0.1% | ||
| Q1 24 | 0.2% | 0.5% |
现金转化率APLSOLPX
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | 0.72× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.27× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.26× | ||
| Q2 24 | — | 2.81× | ||
| Q1 24 | — | 5.64× |
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% |
OLPX
| Sales Channel Directly To Consumer | $43.6M | 42% |
| Sales Channel Through Intermediary Professional | $36.8M | 35% |
| Sales Channel Through Intermediary Specialty Retail | $24.7M | 23% |
