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Apellis Pharmaceuticals, Inc.（APLS）与ORMAT TECHNOLOGIES, INC.（ORA）财务数据对比。点击上方公司名可切换其他公司
ORMAT TECHNOLOGIES, INC.的季度营收约是Apellis Pharmaceuticals, Inc.的1.4倍（$276.0M vs $199.9M），ORMAT TECHNOLOGIES, INC.净利率更高（11.4% vs -29.5%，领先40.8%），ORMAT TECHNOLOGIES, INC.同比增速更快（19.6% vs -5.9%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-40.0M），过去两年ORMAT TECHNOLOGIES, INC.的营收复合增速更高（11.0% 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。
Ormat Technologies是总部位于美国内华达州里诺的跨国企业，主打可再生地热能源技术，累计建成超190座电站，总装机容量超3200兆瓦；截至2021年1月自主运营933兆瓦地热及余热回收电站，还向全球多国供应超千台涡轮增压器。
APLS vs ORA — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $276.0M |
| 净利润 | $-59.0M | $31.4M |
| 毛利率 | — | 28.6% |
| 营业利润率 | -25.6% | 15.4% |
| 净利率 | -29.5% | 11.4% |
| 营收同比 | -5.9% | 19.6% |
| 净利润同比 | -62.2% | -23.2% |
| 每股收益（稀释后） | $-0.40 | $0.51 |
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
| Q4 25 | $199.9M | $276.0M | ||
| Q3 25 | $458.6M | $249.7M | ||
| Q2 25 | $178.5M | $234.0M | ||
| Q1 25 | $166.8M | $229.8M | ||
| Q4 24 | $212.5M | $230.7M | ||
| Q3 24 | $196.8M | $211.8M | ||
| Q2 24 | $199.7M | $213.0M | ||
| Q1 24 | $172.3M | $224.2M |
| Q4 25 | $-59.0M | $31.4M | ||
| Q3 25 | $215.7M | $24.1M | ||
| Q2 25 | $-42.2M | $28.0M | ||
| Q1 25 | $-92.2M | $40.4M | ||
| Q4 24 | $-36.4M | $40.8M | ||
| Q3 24 | $-57.4M | $22.1M | ||
| Q2 24 | $-37.7M | $22.2M | ||
| Q1 24 | $-66.4M | $38.6M |
| Q4 25 | — | 28.6% | ||
| Q3 25 | — | 25.6% | ||
| Q2 25 | — | 24.3% | ||
| Q1 25 | — | 31.7% | ||
| Q4 24 | — | 31.9% | ||
| Q3 24 | — | 27.8% | ||
| Q2 24 | — | 28.8% | ||
| Q1 24 | — | 35.2% |
| Q4 25 | -25.6% | 15.4% | ||
| Q3 25 | 48.7% | 16.2% | ||
| Q2 25 | -18.6% | 15.1% | ||
| Q1 25 | -50.0% | 22.2% | ||
| Q4 24 | -12.3% | 21.3% | ||
| Q3 24 | -24.0% | 16.8% | ||
| Q2 24 | -14.7% | 16.5% | ||
| Q1 24 | -36.0% | 23.5% |
| Q4 25 | -29.5% | 11.4% | ||
| Q3 25 | 47.0% | 9.7% | ||
| Q2 25 | -23.6% | 12.0% | ||
| Q1 25 | -55.3% | 17.6% | ||
| Q4 24 | -17.1% | 17.7% | ||
| Q3 24 | -29.2% | 10.4% | ||
| Q2 24 | -18.9% | 10.4% | ||
| Q1 24 | -38.5% | 17.2% |
| Q4 25 | $-0.40 | $0.51 | ||
| Q3 25 | $1.67 | $0.39 | ||
| Q2 25 | $-0.33 | $0.46 | ||
| Q1 25 | $-0.74 | $0.66 | ||
| Q4 24 | $-0.30 | $0.67 | ||
| Q3 24 | $-0.46 | $0.36 | ||
| Q2 24 | $-0.30 | $0.37 | ||
| Q1 24 | $-0.54 | $0.64 |
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 | $147.4M |
| 总债务越低越好 | — | $2.7B |
| 股东权益账面价值 | $370.1M | $2.5B |
| 总资产 | $1.1B | $6.2B |
| 负债/权益比越低杠杆越低 | — | 1.05× |
8季度趋势，按日历期对齐
| Q4 25 | $466.2M | $147.4M | ||
| Q3 25 | $479.2M | $79.6M | ||
| Q2 25 | $370.0M | $88.5M | ||
| Q1 25 | $358.4M | $112.7M | ||
| Q4 24 | $411.3M | $94.4M | ||
| Q3 24 | $396.9M | $88.1M | ||
| Q2 24 | $360.1M | $66.3M | ||
| Q1 24 | $325.9M | $201.5M |
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
| Q4 25 | $370.1M | $2.5B | ||
| Q3 25 | $401.2M | $2.5B | ||
| Q2 25 | $156.3M | $2.5B | ||
| Q1 25 | $164.2M | $2.5B | ||
| Q4 24 | $228.5M | $2.4B | ||
| Q3 24 | $237.1M | $2.4B | ||
| Q2 24 | $264.3M | $2.4B | ||
| Q1 24 | $266.7M | $2.4B |
| Q4 25 | $1.1B | $6.2B | ||
| Q3 25 | $1.1B | $6.1B | ||
| Q2 25 | $821.4M | $6.0B | ||
| Q1 25 | $807.3M | $5.8B | ||
| Q4 24 | $885.1M | $5.7B | ||
| Q3 24 | $901.9M | $5.6B | ||
| Q2 24 | $904.5M | $5.5B | ||
| Q1 24 | $831.9M | $5.5B |
| Q4 25 | — | 1.05× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.97× | ||
| 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 | $105.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-40.0M |
| 自由现金流率自由现金流/营收 | -7.1% | -14.5% |
| 资本支出强度资本支出/营收 | 0.1% | 52.6% |
| 现金转化率经营现金流/净利润 | — | 3.35× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $-284.7M |
8季度趋势，按日历期对齐
| Q4 25 | $-14.2M | $105.0M | ||
| Q3 25 | $108.5M | $45.2M | ||
| Q2 25 | $4.4M | $96.9M | ||
| Q1 25 | $-53.4M | $88.0M | ||
| Q4 24 | $19.4M | $158.6M | ||
| Q3 24 | $34.1M | $106.4M | ||
| Q2 24 | $-8.3M | $30.7M | ||
| Q1 24 | $-133.0M | $115.2M |
| Q4 25 | $-14.3M | $-40.0M | ||
| Q3 25 | $108.3M | $-102.1M | ||
| Q2 25 | $4.4M | $-37.9M | ||
| Q1 25 | $-53.4M | $-104.6M | ||
| Q4 24 | $19.3M | $30.9M | ||
| Q3 24 | — | $-3.3M | ||
| Q2 24 | $-8.4M | $-116.1M | ||
| Q1 24 | $-133.3M | $11.8M |
| Q4 25 | -7.1% | -14.5% | ||
| Q3 25 | 23.6% | -40.9% | ||
| Q2 25 | 2.5% | -16.2% | ||
| Q1 25 | -32.0% | -45.5% | ||
| Q4 24 | 9.1% | 13.4% | ||
| Q3 24 | — | -1.6% | ||
| Q2 24 | -4.2% | -54.5% | ||
| Q1 24 | -77.3% | 5.3% |
| Q4 25 | 0.1% | 52.6% | ||
| Q3 25 | 0.0% | 59.0% | ||
| Q2 25 | 0.0% | 57.6% | ||
| Q1 25 | 0.0% | 83.8% | ||
| Q4 24 | 0.0% | 55.4% | ||
| Q3 24 | 0.0% | 51.8% | ||
| Q2 24 | 0.0% | 69.0% | ||
| Q1 24 | 0.2% | 46.1% |
| Q4 25 | — | 3.35× | ||
| Q3 25 | 0.50× | 1.87× | ||
| Q2 25 | — | 3.45× | ||
| Q1 25 | — | 2.18× | ||
| Q4 24 | — | 3.89× | ||
| Q3 24 | — | 4.82× | ||
| Q2 24 | — | 1.38× | ||
| Q1 24 | — | 2.99× |
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% |
ORA
| Electricity | $186.6M | 68% |
| Products | $63.1M | 23% |
| Energy Storage Segment | $26.3M | 10% |
| Product Segment | $1.2M | 0% |
