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Apellis Pharmaceuticals, Inc.（APLS）与OCTAVE SPECIALTY GROUP INC（OSG）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OCTAVE SPECIALTY GROUP INC的1.9倍（$199.9M vs $104.2M），OCTAVE SPECIALTY GROUP INC净利率更高（-6.6% vs -29.5%，领先22.9%），OCTAVE SPECIALTY GROUP INC同比增速更快（66.0% vs -5.9%），过去两年OCTAVE SPECIALTY GROUP INC的营收复合增速更高（42.9% 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。
奥克塔夫专业集团是一家专业保险控股企业，主营定制化财产与意外伤害保险产品，核心业务聚焦超额剩余保险领域，为北美地区的商业及个人客户提供定制化风险保障解决方案。
APLS vs OSG — 直观对比
营收规模更大
APLS
是对方的1.9倍
$104.2M
营收增速更快
OSG
高出71.9%
-5.9%
净利率更高
OSG
高出22.9%
-29.5%
两年增速更快
OSG
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $104.2M |
| 净利润 | $-59.0M | $-6.9M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | — |
| 净利率 | -29.5% | -6.6% |
| 营收同比 | -5.9% | 66.0% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $-0.13 |
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APLSOSG
| Q1 26 | — | $104.2M | ||
| Q4 25 | $199.9M | $66.9M | ||
| Q3 25 | $458.6M | $66.6M | ||
| Q2 25 | $178.5M | $55.0M | ||
| Q1 25 | $166.8M | $62.8M | ||
| Q4 24 | $212.5M | $65.2M | ||
| Q3 24 | $196.8M | $70.0M | ||
| Q2 24 | $199.7M | $51.0M |
净利润APLSOSG
| Q1 26 | — | $-6.9M | ||
| Q4 25 | $-59.0M | $-29.7M | ||
| Q3 25 | $215.7M | $-112.6M | ||
| Q2 25 | $-42.2M | $-72.7M | ||
| Q1 25 | $-92.2M | $-44.7M | ||
| Q4 24 | $-36.4M | $-20.9M | ||
| Q3 24 | $-57.4M | $-27.5M | ||
| Q2 24 | $-37.7M | $-750.0K |
营业利润率APLSOSG
| Q1 26 | — | — | ||
| Q4 25 | -25.6% | -76.7% | ||
| Q3 25 | 48.7% | -48.2% | ||
| Q2 25 | -18.6% | -41.8% | ||
| Q1 25 | -50.0% | -24.1% | ||
| Q4 24 | -12.3% | -55.5% | ||
| Q3 24 | -24.0% | -29.7% | ||
| Q2 24 | -14.7% | -28.9% |
净利率APLSOSG
| Q1 26 | — | -6.6% | ||
| Q4 25 | -29.5% | -73.8% | ||
| Q3 25 | 47.0% | -169.1% | ||
| Q2 25 | -23.6% | -132.3% | ||
| Q1 25 | -55.3% | -71.3% | ||
| Q4 24 | -17.1% | -55.1% | ||
| Q3 24 | -29.2% | -39.3% | ||
| Q2 24 | -18.9% | -1.5% |
每股收益（稀释后）APLSOSG
| Q1 26 | — | $-0.13 | ||
| Q4 25 | $-0.40 | $-0.82 | ||
| Q3 25 | $1.67 | $-2.35 | ||
| Q2 25 | $-0.33 | $-1.54 | ||
| Q1 25 | $-0.74 | $-1.22 | ||
| Q4 24 | $-0.30 | $-11.75 | ||
| Q3 24 | $-0.46 | $-0.63 | ||
| Q2 24 | $-0.30 | $-0.02 |
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 | — | $117.1M |
| 股东权益账面价值 | $370.1M | $833.6M |
| 总资产 | $1.1B | $2.3B |
| 负债/权益比越低杠杆越低 | — | 0.14× |
8季度趋势，按日历期对齐
现金及短期投资APLSOSG
| Q1 26 | — | — | ||
| Q4 25 | $466.2M | $146.4M | ||
| Q3 25 | $479.2M | $27.5M | ||
| Q2 25 | $370.0M | $22.5M | ||
| Q1 25 | $358.4M | $34.1M | ||
| Q4 24 | $411.3M | $157.2M | ||
| Q3 24 | $396.9M | $40.8M | ||
| Q2 24 | $360.1M | $14.6M |
总债务APLSOSG
| Q1 26 | — | $117.1M | ||
| Q4 25 | — | $117.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $518.0M | ||
| Q2 24 | — | $515.0M |
股东权益APLSOSG
| Q1 26 | — | $833.6M | ||
| Q4 25 | $370.1M | $715.8M | ||
| Q3 25 | $401.2M | $843.4M | ||
| Q2 25 | $156.3M | $859.8M | ||
| Q1 25 | $164.2M | $852.2M | ||
| Q4 24 | $228.5M | $798.4M | ||
| Q3 24 | $237.1M | $1.5B | ||
| Q2 24 | $264.3M | $1.4B |
总资产APLSOSG
| Q1 26 | — | $2.3B | ||
| Q4 25 | $1.1B | $2.2B | ||
| Q3 25 | $1.1B | $2.1B | ||
| Q2 25 | $821.4M | $8.5B | ||
| Q1 25 | $807.3M | $8.3B | ||
| Q4 24 | $885.1M | $8.1B | ||
| Q3 24 | $901.9M | $9.3B | ||
| Q2 24 | $904.5M | $8.2B |
负债/权益比APLSOSG
| Q1 26 | — | 0.14× | ||
| Q4 25 | — | 0.16× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.38× |
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APLSOSG
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $-52.3M | ||
| Q3 25 | $108.5M | $-41.2M | ||
| Q2 25 | $4.4M | $2.1M | ||
| Q1 25 | $-53.4M | $-12.6M | ||
| Q4 24 | $19.4M | $762.0K | ||
| Q3 24 | $34.1M | $48.9M | ||
| Q2 24 | $-8.3M | $20.4M |
自由现金流APLSOSG
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | — | ||
| Q3 25 | $108.3M | — | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-8.4M | — |
自由现金流率APLSOSG
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | — | ||
| Q3 25 | 23.6% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -4.2% | — |
资本支出强度APLSOSG
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — |
现金转化率APLSOSG
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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% |
OSG
| Commissions | $68.2M | 65% |
| Other | $20.6M | 20% |
| Servicing and other fees | $9.4M | 9% |
| Program fees | $3.6M | 3% |
| Investment income | $2.4M | 2% |
