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Apellis Pharmaceuticals, Inc.（APLS）与PAR TECHNOLOGY CORP（PAR）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PAR TECHNOLOGY CORP的1.7倍（$199.9M vs $120.1M），PAR TECHNOLOGY CORP同比增速更快（14.4% vs -5.9%），PAR TECHNOLOGY CORP自由现金流更多（$-12.5M vs $-14.3M），过去两年PAR TECHNOLOGY CORP的营收复合增速更高（30.9% 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。
PAR科技公司是全球领先的销售点系统、餐饮酒店管理软件及集成技术解决方案提供商，核心业务覆盖餐饮服务、酒店文旅及政府安防领域，为各类规模客户提供云端工具以简化运营、提升消费体验与经营效率。
APLS vs PAR — 直观对比
营收规模更大
APLS
是对方的1.7倍
$120.1M
营收增速更快
PAR
高出20.3%
-5.9%
自由现金流更多
PAR
多$1.8M
$-14.3M
两年增速更快
PAR
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $120.1M |
| 净利润 | $-59.0M | — |
| 毛利率 | — | 41.2% |
| 营业利润率 | -25.6% | -15.0% |
| 净利率 | -29.5% | — |
| 营收同比 | -5.9% | 14.4% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $-0.52 |
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APLSPAR
| Q4 25 | $199.9M | $120.1M | ||
| Q3 25 | $458.6M | $119.2M | ||
| Q2 25 | $178.5M | $112.4M | ||
| Q1 25 | $166.8M | $103.9M | ||
| Q4 24 | $212.5M | $105.0M | ||
| Q3 24 | $196.8M | $96.8M | ||
| Q2 24 | $199.7M | $78.2M | ||
| Q1 24 | $172.3M | $70.1M |
净利润APLSPAR
| Q4 25 | $-59.0M | — | ||
| Q3 25 | $215.7M | $-18.2M | ||
| Q2 25 | $-42.2M | $-21.0M | ||
| Q1 25 | $-92.2M | $-24.4M | ||
| Q4 24 | $-36.4M | — | ||
| Q3 24 | $-57.4M | $-19.8M | ||
| Q2 24 | $-37.7M | $54.2M | ||
| Q1 24 | $-66.4M | $-18.3M |
毛利率APLSPAR
| Q4 25 | — | 41.2% | ||
| Q3 25 | — | 41.3% | ||
| Q2 25 | — | 45.4% | ||
| Q1 25 | — | 46.5% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 41.0% | ||
| Q1 24 | — | 37.2% |
营业利润率APLSPAR
| Q4 25 | -25.6% | -15.0% | ||
| Q3 25 | 48.7% | -14.8% | ||
| Q2 25 | -18.6% | -15.4% | ||
| Q1 25 | -50.0% | -15.2% | ||
| Q4 24 | -12.3% | -15.6% | ||
| Q3 24 | -24.0% | -15.7% | ||
| Q2 24 | -14.7% | -26.5% | ||
| Q1 24 | -36.0% | -38.2% |
净利率APLSPAR
| Q4 25 | -29.5% | — | ||
| Q3 25 | 47.0% | -15.3% | ||
| Q2 25 | -23.6% | -18.7% | ||
| Q1 25 | -55.3% | -23.4% | ||
| Q4 24 | -17.1% | — | ||
| Q3 24 | -29.2% | -20.5% | ||
| Q2 24 | -18.9% | 69.3% | ||
| Q1 24 | -38.5% | -26.1% |
每股收益（稀释后）APLSPAR
| Q4 25 | $-0.40 | $-0.52 | ||
| Q3 25 | $1.67 | $-0.45 | ||
| Q2 25 | $-0.33 | $-0.52 | ||
| Q1 25 | $-0.74 | $-0.60 | ||
| Q4 24 | $-0.30 | $-0.56 | ||
| Q3 24 | $-0.46 | $-0.56 | ||
| Q2 24 | $-0.30 | $1.60 | ||
| Q1 24 | $-0.54 | $-0.62 |
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 | $80.1M |
| 总债务越低越好 | — | $394.0M |
| 股东权益账面价值 | $370.1M | $825.1M |
| 总资产 | $1.1B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.48× |
8季度趋势，按日历期对齐
现金及短期投资APLSPAR
| Q4 25 | $466.2M | $80.1M | ||
| Q3 25 | $479.2M | $93.0M | ||
| Q2 25 | $370.0M | $85.7M | ||
| Q1 25 | $358.4M | $92.2M | ||
| Q4 24 | $411.3M | $108.6M | ||
| Q3 24 | $396.9M | $118.4M | ||
| Q2 24 | $360.1M | $142.5M | ||
| Q1 24 | $325.9M | $72.5M |
总债务APLSPAR
| Q4 25 | — | $394.0M | ||
| Q3 25 | — | $393.4M | ||
| Q2 25 | — | $392.8M | ||
| Q1 25 | — | $392.3M | ||
| Q4 24 | — | $368.4M | ||
| Q3 24 | — | $466.7M | ||
| Q2 24 | — | $378.7M | ||
| Q1 24 | $93.1M | $378.2M |
股东权益APLSPAR
| Q4 25 | $370.1M | $825.1M | ||
| Q3 25 | $401.2M | $838.0M | ||
| Q2 25 | $156.3M | $859.1M | ||
| Q1 25 | $164.2M | $852.0M | ||
| Q4 24 | $228.5M | $871.7M | ||
| Q3 24 | $237.1M | $692.7M | ||
| Q2 24 | $264.3M | $588.3M | ||
| Q1 24 | $266.7M | $526.4M |
总资产APLSPAR
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $821.4M | $1.4B | ||
| Q1 25 | $807.3M | $1.4B | ||
| Q4 24 | $885.1M | $1.4B | ||
| Q3 24 | $901.9M | $1.3B | ||
| Q2 24 | $904.5M | $1.1B | ||
| Q1 24 | $831.9M | $1.0B |
负债/权益比APLSPAR
| Q4 25 | — | 0.48× | ||
| Q3 25 | — | 0.47× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.46× | ||
| Q4 24 | — | 0.42× | ||
| Q3 24 | — | 0.67× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | 0.35× | 0.72× |
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 | $-11.8M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-12.5M |
| 自由现金流率自由现金流/营收 | -7.1% | -10.4% |
| 资本支出强度资本支出/营收 | 0.1% | 0.7% |
| 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 | $-30.5M |
8季度趋势，按日历期对齐
经营现金流APLSPAR
| Q4 25 | $-14.2M | $-11.8M | ||
| Q3 25 | $108.5M | $8.4M | ||
| Q2 25 | $4.4M | $-6.6M | ||
| Q1 25 | $-53.4M | $-17.2M | ||
| Q4 24 | $19.4M | $3.4M | ||
| Q3 24 | $34.1M | $8.8M | ||
| Q2 24 | $-8.3M | $-13.8M | ||
| Q1 24 | $-133.0M | $-23.6M |
自由现金流APLSPAR
| Q4 25 | $-14.3M | $-12.5M | ||
| Q3 25 | $108.3M | $7.0M | ||
| Q2 25 | $4.4M | $-7.4M | ||
| Q1 25 | $-53.4M | $-17.6M | ||
| Q4 24 | $19.3M | $3.2M | ||
| Q3 24 | — | $8.4M | ||
| Q2 24 | $-8.4M | $-14.2M | ||
| Q1 24 | $-133.3M | $-23.6M |
自由现金流率APLSPAR
| Q4 25 | -7.1% | -10.4% | ||
| Q3 25 | 23.6% | 5.9% | ||
| Q2 25 | 2.5% | -6.6% | ||
| Q1 25 | -32.0% | -16.9% | ||
| Q4 24 | 9.1% | 3.0% | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | -4.2% | -18.2% | ||
| Q1 24 | -77.3% | -33.7% |
资本支出强度APLSPAR
| Q4 25 | 0.1% | 0.7% | ||
| Q3 25 | 0.0% | 1.1% | ||
| Q2 25 | 0.0% | 0.7% | ||
| Q1 25 | 0.0% | 0.4% | ||
| Q4 24 | 0.0% | 0.2% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 0.0% | 0.5% | ||
| Q1 24 | 0.2% | 0.1% |
现金转化率APLSPAR
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.26× | ||
| Q1 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% |
PAR
| Subscription Service | $76.1M | 63% |
| Hardware | $27.8M | 23% |
| Professional Service | $16.2M | 13% |
