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Apellis Pharmaceuticals, Inc.（APLS）与OneWater Marine Inc.（ONEW）财务数据对比。点击上方公司名可切换其他公司
OneWater Marine Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的2.2倍（$442.3M vs $199.9M），OneWater Marine Inc.净利率更高（-2.9% vs -29.5%，领先26.6%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -8.5%），过去两年OneWater Marine Inc.的营收复合增速更高（8.2% vs 7.7%）
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。
OneWater Marine Inc.是美国头部休闲船舶零售企业，主营全新及二手船只、游艇、船舶零配件销售，同时提供船只维修保养、配套融资等服务，通过覆盖北美多州的经销商网络服务个人及商业休闲船艇客户。
APLS vs ONEW — 直观对比
营收规模更大
ONEW
是对方的2.2倍
$199.9M
营收增速更快
APLS
高出2.6%
-8.5%
净利率更高
ONEW
高出26.6%
-29.5%
两年增速更快
ONEW
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $442.3M |
| 净利润 | $-59.0M | $-12.9M |
| 毛利率 | — | 23.9% |
| 营业利润率 | -25.6% | 1.7% |
| 净利率 | -29.5% | -2.9% |
| 营收同比 | -5.9% | -8.5% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $-0.78 |
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APLSONEW
| Q2 26 | — | $442.3M | ||
| Q1 26 | — | $380.6M | ||
| Q4 25 | $199.9M | $380.6M | ||
| Q3 25 | $458.6M | $460.1M | ||
| Q2 25 | $178.5M | $552.9M | ||
| Q1 25 | $166.8M | $483.5M | ||
| Q4 24 | $212.5M | $375.8M | ||
| Q3 24 | $196.8M | $377.9M |
净利润APLSONEW
| Q2 26 | — | $-12.9M | ||
| Q1 26 | — | $-7.7M | ||
| Q4 25 | $-59.0M | $-7.7M | ||
| Q3 25 | $215.7M | $-113.0M | ||
| Q2 25 | $-42.2M | $10.7M | ||
| Q1 25 | $-92.2M | $-368.0K | ||
| Q4 24 | $-36.4M | $-12.0M | ||
| Q3 24 | $-57.4M | $-9.2M |
毛利率APLSONEW
| Q2 26 | — | 23.9% | ||
| Q1 26 | — | 23.5% | ||
| Q4 25 | — | 23.5% | ||
| Q3 25 | — | 22.6% | ||
| Q2 25 | — | 23.3% | ||
| Q1 25 | — | 22.8% | ||
| Q4 24 | — | 22.4% | ||
| Q3 24 | — | 24.0% |
营业利润率APLSONEW
| Q2 26 | — | 1.7% | ||
| Q1 26 | — | — | ||
| Q4 25 | -25.6% | -1.4% | ||
| Q3 25 | 48.7% | -28.3% | ||
| Q2 25 | -18.6% | 5.5% | ||
| Q1 25 | -50.0% | 3.4% | ||
| Q4 24 | -12.3% | -0.5% | ||
| Q3 24 | -24.0% | 1.2% |
净利率APLSONEW
| Q2 26 | — | -2.9% | ||
| Q1 26 | — | -2.0% | ||
| Q4 25 | -29.5% | -2.0% | ||
| Q3 25 | 47.0% | -24.5% | ||
| Q2 25 | -23.6% | 1.9% | ||
| Q1 25 | -55.3% | -0.1% | ||
| Q4 24 | -17.1% | -3.2% | ||
| Q3 24 | -29.2% | -2.4% |
每股收益（稀释后）APLSONEW
| Q2 26 | — | $-0.78 | ||
| Q1 26 | — | $-0.47 | ||
| Q4 25 | $-0.40 | — | ||
| Q3 25 | $1.67 | — | ||
| Q2 25 | $-0.33 | — | ||
| Q1 25 | $-0.74 | — | ||
| Q4 24 | $-0.30 | — | ||
| Q3 24 | $-0.46 | — |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $269.4M |
| 总资产 | $1.1B | $1.4B |
| 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APLSONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $466.2M | — | ||
| Q3 25 | $479.2M | — | ||
| Q2 25 | $370.0M | — | ||
| Q1 25 | $358.4M | — | ||
| Q4 24 | $411.3M | — | ||
| Q3 24 | $396.9M | — |
股东权益APLSONEW
| Q2 26 | — | $269.4M | ||
| Q1 26 | — | $277.5M | ||
| Q4 25 | $370.1M | $277.5M | ||
| Q3 25 | $401.2M | $285.0M | ||
| Q2 25 | $156.3M | $393.2M | ||
| Q1 25 | $164.2M | $381.6M | ||
| Q4 24 | $228.5M | $354.8M | ||
| Q3 24 | $237.1M | $360.8M |
总资产APLSONEW
| Q2 26 | — | $1.4B | ||
| Q1 26 | — | $1.4B | ||
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $821.4M | $1.5B | ||
| Q1 25 | $807.3M | $1.6B | ||
| Q4 24 | $885.1M | $1.6B | ||
| Q3 24 | $901.9M | $1.6B |
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APLSONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $-76.3M | ||
| Q3 25 | $108.5M | $9.9M | ||
| Q2 25 | $4.4M | $90.8M | ||
| Q1 25 | $-53.4M | $28.5M | ||
| Q4 24 | $19.4M | $-37.4M | ||
| Q3 24 | $34.1M | $27.3M |
自由现金流APLSONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | $-78.2M | ||
| Q3 25 | $108.3M | $7.2M | ||
| Q2 25 | $4.4M | $88.9M | ||
| Q1 25 | $-53.4M | $23.7M | ||
| Q4 24 | $19.3M | $-40.0M | ||
| Q3 24 | — | $23.2M |
自由现金流率APLSONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | -20.6% | ||
| Q3 25 | 23.6% | 1.6% | ||
| Q2 25 | 2.5% | 16.1% | ||
| Q1 25 | -32.0% | 4.9% | ||
| Q4 24 | 9.1% | -10.7% | ||
| Q3 24 | — | 6.1% |
资本支出强度APLSONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 0.5% | ||
| Q3 25 | 0.0% | 0.6% | ||
| Q2 25 | 0.0% | 0.4% | ||
| Q1 25 | 0.0% | 1.0% | ||
| Q4 24 | 0.0% | 0.7% | ||
| Q3 24 | 0.0% | 1.1% |
现金转化率APLSONEW
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | 8.47× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 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% |
ONEW
| New boat | $272.0M | 62% |
| Pre-owned boat | $94.4M | 21% |
| Service, parts & other | $61.9M | 14% |
| Finance & insurance income | $14.0M | 3% |
