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Apellis Pharmaceuticals, Inc.（APLS）与Pacira BioSciences, Inc.（PCRX）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Pacira BioSciences, Inc.的1.0倍（$199.9M vs $196.9M），Pacira BioSciences, Inc.同比增速更快（5.1% vs -5.9%），Pacira BioSciences, Inc.自由现金流更多（$43.5M vs $-14.3M），过去两年Pacira BioSciences, Inc.的营收复合增速更高（8.5% 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。
Pacira BioSciences是一家专科制药企业，专注于非阿片类疼痛管理药物的研发与商业化，核心产品线面向术后镇痛场景，服务以美国为主的医院、门诊手术中心等医疗服务机构，同时推进部分国际市场的拓展工作。
APLS vs PCRX — 直观对比
营收规模更大
APLS
是对方的1.0倍
$196.9M
营收增速更快
PCRX
高出11.1%
-5.9%
自由现金流更多
PCRX
多$57.8M
$-14.3M
两年增速更快
PCRX
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $196.9M |
| 净利润 | $-59.0M | — |
| 毛利率 | — | 79.5% |
| 营业利润率 | -25.6% | 1.2% |
| 净利率 | -29.5% | — |
| 营收同比 | -5.9% | 5.1% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $0.05 |
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APLSPCRX
| Q4 25 | $199.9M | $196.9M | ||
| Q3 25 | $458.6M | $179.5M | ||
| Q2 25 | $178.5M | $181.1M | ||
| Q1 25 | $166.8M | $168.9M | ||
| Q4 24 | $212.5M | $187.3M | ||
| Q3 24 | $196.8M | $168.6M | ||
| Q2 24 | $199.7M | $178.0M | ||
| Q1 24 | $172.3M | $167.1M |
净利润APLSPCRX
| Q4 25 | $-59.0M | — | ||
| Q3 25 | $215.7M | $5.4M | ||
| Q2 25 | $-42.2M | $-4.8M | ||
| Q1 25 | $-92.2M | $4.8M | ||
| Q4 24 | $-36.4M | — | ||
| Q3 24 | $-57.4M | $-143.5M | ||
| Q2 24 | $-37.7M | $18.9M | ||
| Q1 24 | $-66.4M | $9.0M |
毛利率APLSPCRX
| Q4 25 | — | 79.5% | ||
| Q3 25 | — | 80.9% | ||
| Q2 25 | — | 77.4% | ||
| Q1 25 | — | 79.7% | ||
| Q4 24 | — | 78.7% | ||
| Q3 24 | — | 76.9% | ||
| Q2 24 | — | 75.1% | ||
| Q1 24 | — | 71.6% |
营业利润率APLSPCRX
| Q4 25 | -25.6% | 1.2% | ||
| Q3 25 | 48.7% | 3.5% | ||
| Q2 25 | -18.6% | 4.7% | ||
| Q1 25 | -50.0% | 1.2% | ||
| Q4 24 | -12.3% | 13.2% | ||
| Q3 24 | -24.0% | -82.8% | ||
| Q2 24 | -14.7% | 15.9% | ||
| Q1 24 | -36.0% | 7.9% |
净利率APLSPCRX
| Q4 25 | -29.5% | — | ||
| Q3 25 | 47.0% | 3.0% | ||
| Q2 25 | -23.6% | -2.7% | ||
| Q1 25 | -55.3% | 2.8% | ||
| Q4 24 | -17.1% | — | ||
| Q3 24 | -29.2% | -85.1% | ||
| Q2 24 | -18.9% | 10.6% | ||
| Q1 24 | -38.5% | 5.4% |
每股收益（稀释后）APLSPCRX
| Q4 25 | $-0.40 | $0.05 | ||
| Q3 25 | $1.67 | $0.12 | ||
| Q2 25 | $-0.33 | $-0.11 | ||
| Q1 25 | $-0.74 | $0.10 | ||
| Q4 24 | $-0.30 | $0.38 | ||
| Q3 24 | $-0.46 | $-3.11 | ||
| Q2 24 | $-0.30 | $0.39 | ||
| Q1 24 | $-0.54 | $0.19 |
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 | $238.4M |
| 总债务越低越好 | — | $372.2M |
| 股东权益账面价值 | $370.1M | $693.1M |
| 总资产 | $1.1B | $1.3B |
| 负债/权益比越低杠杆越低 | — | 0.54× |
8季度趋势，按日历期对齐
现金及短期投资APLSPCRX
| Q4 25 | $466.2M | $238.4M | ||
| Q3 25 | $479.2M | $246.3M | ||
| Q2 25 | $370.0M | $445.9M | ||
| Q1 25 | $358.4M | $493.6M | ||
| Q4 24 | $411.3M | $484.6M | ||
| Q3 24 | $396.9M | $453.8M | ||
| Q2 24 | $360.1M | $404.2M | ||
| Q1 24 | $325.9M | $325.9M |
总债务APLSPCRX
| Q4 25 | — | $372.2M | ||
| Q3 25 | — | $376.7M | ||
| Q2 25 | — | $580.5M | ||
| Q1 25 | — | $583.4M | ||
| Q4 24 | — | $585.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSPCRX
| Q4 25 | $370.1M | $693.1M | ||
| Q3 25 | $401.2M | $727.2M | ||
| Q2 25 | $156.3M | $757.8M | ||
| Q1 25 | $164.2M | $798.5M | ||
| Q4 24 | $228.5M | $778.3M | ||
| Q3 24 | $237.1M | $749.6M | ||
| Q2 24 | $264.3M | $879.3M | ||
| Q1 24 | $266.7M | $892.2M |
总资产APLSPCRX
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $1.1B | $1.3B | ||
| Q2 25 | $821.4M | $1.5B | ||
| Q1 25 | $807.3M | $1.6B | ||
| Q4 24 | $885.1M | $1.6B | ||
| Q3 24 | $901.9M | $1.5B | ||
| Q2 24 | $904.5M | $1.6B | ||
| Q1 24 | $831.9M | $1.6B |
负债/权益比APLSPCRX
| Q4 25 | — | 0.54× | ||
| Q3 25 | — | 0.52× | ||
| Q2 25 | — | 0.77× | ||
| Q1 25 | — | 0.73× | ||
| Q4 24 | — | 0.75× | ||
| 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 | $43.7M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $43.5M |
| 自由现金流率自由现金流/营收 | -7.1% | 22.1% |
| 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 | $136.7M |
8季度趋势，按日历期对齐
经营现金流APLSPCRX
| Q4 25 | $-14.2M | $43.7M | ||
| Q3 25 | $108.5M | $60.8M | ||
| Q2 25 | $4.4M | $12.0M | ||
| Q1 25 | $-53.4M | $35.5M | ||
| Q4 24 | $19.4M | $33.1M | ||
| Q3 24 | $34.1M | $53.9M | ||
| Q2 24 | $-8.3M | $53.2M | ||
| Q1 24 | $-133.0M | $49.1M |
自由现金流APLSPCRX
| Q4 25 | $-14.3M | $43.5M | ||
| Q3 25 | $108.3M | $57.0M | ||
| Q2 25 | $4.4M | $9.3M | ||
| Q1 25 | $-53.4M | $26.9M | ||
| Q4 24 | $19.3M | $31.0M | ||
| Q3 24 | — | $49.8M | ||
| Q2 24 | $-8.4M | $51.6M | ||
| Q1 24 | $-133.3M | $46.3M |
自由现金流率APLSPCRX
| Q4 25 | -7.1% | 22.1% | ||
| Q3 25 | 23.6% | 31.7% | ||
| Q2 25 | 2.5% | 5.1% | ||
| Q1 25 | -32.0% | 15.9% | ||
| Q4 24 | 9.1% | 16.6% | ||
| Q3 24 | — | 29.6% | ||
| Q2 24 | -4.2% | 29.0% | ||
| Q1 24 | -77.3% | 27.7% |
资本支出强度APLSPCRX
| Q4 25 | 0.1% | 0.1% | ||
| Q3 25 | 0.0% | 2.2% | ||
| Q2 25 | 0.0% | 1.5% | ||
| Q1 25 | 0.0% | 5.1% | ||
| Q4 24 | 0.0% | 1.1% | ||
| Q3 24 | 0.0% | 2.4% | ||
| Q2 24 | 0.0% | 0.9% | ||
| Q1 24 | 0.2% | 1.7% |
现金转化率APLSPCRX
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | 11.20× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 7.37× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.82× | ||
| Q1 24 | — | 5.47× |
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% |
PCRX
| EXPAREL | $155.8M | 79% |
| ZILRETTA | $33.0M | 17% |
| Iovera | $7.0M | 4% |
