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Apellis Pharmaceuticals, Inc.（APLS）与CPI Card Group Inc.（PMTS）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CPI Card Group Inc.的1.3倍（$199.9M vs $153.1M），CPI Card Group Inc.净利率更高（4.8% vs -29.5%，领先34.3%），CPI Card Group Inc.同比增速更快（22.3% vs -5.9%），CPI Card Group Inc.自由现金流更多（$35.2M vs $-14.3M），过去两年CPI Card Group Inc.的营收复合增速更高（16.9% 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。
CPI Card Group Inc.是知名的支付卡生产及配套解决方案供应商，主营接触式、非接触式信用卡、借记卡、预付卡的制造与个性化定制服务，客户以北美地区的金融机构、金融科技企业及零售品牌为主。
APLS vs PMTS — 直观对比
营收规模更大
APLS
是对方的1.3倍
$153.1M
营收增速更快
PMTS
高出28.3%
-5.9%
净利率更高
PMTS
高出34.3%
-29.5%
自由现金流更多
PMTS
多$49.5M
$-14.3M
两年增速更快
PMTS
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $153.1M |
| 净利润 | $-59.0M | $7.3M |
| 毛利率 | — | 31.5% |
| 营业利润率 | -25.6% | 12.0% |
| 净利率 | -29.5% | 4.8% |
| 营收同比 | -5.9% | 22.3% |
| 净利润同比 | -62.2% | 8.5% |
| 每股收益（稀释后） | $-0.40 | $0.62 |
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APLSPMTS
| Q4 25 | $199.9M | $153.1M | ||
| Q3 25 | $458.6M | $138.0M | ||
| Q2 25 | $178.5M | $129.8M | ||
| Q1 25 | $166.8M | $122.8M | ||
| Q4 24 | $212.5M | $125.1M | ||
| Q3 24 | $196.8M | $124.8M | ||
| Q2 24 | $199.7M | $118.8M | ||
| Q1 24 | $172.3M | $111.9M |
净利润APLSPMTS
| Q4 25 | $-59.0M | $7.3M | ||
| Q3 25 | $215.7M | $2.3M | ||
| Q2 25 | $-42.2M | $518.0K | ||
| Q1 25 | $-92.2M | $4.8M | ||
| Q4 24 | $-36.4M | $6.8M | ||
| Q3 24 | $-57.4M | $1.3M | ||
| Q2 24 | $-37.7M | $6.0M | ||
| Q1 24 | $-66.4M | $5.5M |
毛利率APLSPMTS
| Q4 25 | — | 31.5% | ||
| Q3 25 | — | 29.7% | ||
| Q2 25 | — | 30.9% | ||
| Q1 25 | — | 33.2% | ||
| Q4 24 | — | 34.1% | ||
| Q3 24 | — | 35.8% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 37.1% |
营业利润率APLSPMTS
| Q4 25 | -25.6% | 12.0% | ||
| Q3 25 | 48.7% | 9.4% | ||
| Q2 25 | -18.6% | 7.3% | ||
| Q1 25 | -50.0% | 11.5% | ||
| Q4 24 | -12.3% | 12.7% | ||
| Q3 24 | -24.0% | 14.3% | ||
| Q2 24 | -14.7% | 12.5% | ||
| Q1 24 | -36.0% | 12.6% |
净利率APLSPMTS
| Q4 25 | -29.5% | 4.8% | ||
| Q3 25 | 47.0% | 1.7% | ||
| Q2 25 | -23.6% | 0.4% | ||
| Q1 25 | -55.3% | 3.9% | ||
| Q4 24 | -17.1% | 5.4% | ||
| Q3 24 | -29.2% | 1.0% | ||
| Q2 24 | -18.9% | 5.1% | ||
| Q1 24 | -38.5% | 4.9% |
每股收益（稀释后）APLSPMTS
| Q4 25 | $-0.40 | $0.62 | ||
| Q3 25 | $1.67 | $0.19 | ||
| Q2 25 | $-0.33 | $0.04 | ||
| Q1 25 | $-0.74 | $0.40 | ||
| Q4 24 | $-0.30 | $0.56 | ||
| Q3 24 | $-0.46 | $0.11 | ||
| Q2 24 | $-0.30 | $0.51 | ||
| Q1 24 | $-0.54 | $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 | $21.7M |
| 总债务越低越好 | — | $286.7M |
| 股东权益账面价值 | $370.1M | $-17.3M |
| 总资产 | $1.1B | $403.2M |
| 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APLSPMTS
| Q4 25 | $466.2M | $21.7M | ||
| Q3 25 | $479.2M | $16.0M | ||
| Q2 25 | $370.0M | $17.1M | ||
| Q1 25 | $358.4M | $31.5M | ||
| Q4 24 | $411.3M | $33.5M | ||
| Q3 24 | $396.9M | $14.7M | ||
| Q2 24 | $360.1M | $7.5M | ||
| Q1 24 | $325.9M | $17.1M |
总债务APLSPMTS
| Q4 25 | — | $286.7M | ||
| Q3 25 | — | $308.4M | ||
| Q2 25 | — | $310.9M | ||
| Q1 25 | — | $280.7M | ||
| Q4 24 | — | $280.4M | ||
| Q3 24 | — | $280.2M | ||
| Q2 24 | — | $269.7M | ||
| Q1 24 | $93.1M | $265.3M |
股东权益APLSPMTS
| Q4 25 | $370.1M | $-17.3M | ||
| Q3 25 | $401.2M | $-25.7M | ||
| Q2 25 | $156.3M | $-29.0M | ||
| Q1 25 | $164.2M | $-29.7M | ||
| Q4 24 | $228.5M | $-35.6M | ||
| Q3 24 | $237.1M | $-42.8M | ||
| Q2 24 | $264.3M | $-44.6M | ||
| Q1 24 | $266.7M | $-48.5M |
总资产APLSPMTS
| Q4 25 | $1.1B | $403.2M | ||
| Q3 25 | $1.1B | $407.1M | ||
| Q2 25 | $821.4M | $399.8M | ||
| Q1 25 | $807.3M | $351.9M | ||
| Q4 24 | $885.1M | $349.7M | ||
| Q3 24 | $901.9M | $342.3M | ||
| Q2 24 | $904.5M | $321.4M | ||
| Q1 24 | $831.9M | $319.8M |
负债/权益比APLSPMTS
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $39.6M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $35.2M |
| 自由现金流率自由现金流/营收 | -7.1% | 23.0% |
| 资本支出强度资本支出/营收 | 0.1% | 2.9% |
| 现金转化率经营现金流/净利润 | — | 5.39× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $41.3M |
8季度趋势，按日历期对齐
经营现金流APLSPMTS
| Q4 25 | $-14.2M | $39.6M | ||
| Q3 25 | $108.5M | $10.0M | ||
| Q2 25 | $4.4M | $4.3M | ||
| Q1 25 | $-53.4M | $5.6M | ||
| Q4 24 | $19.4M | $26.7M | ||
| Q3 24 | $34.1M | $12.5M | ||
| Q2 24 | $-8.3M | $-4.8M | ||
| Q1 24 | $-133.0M | $8.9M |
自由现金流APLSPMTS
| Q4 25 | $-14.3M | $35.2M | ||
| Q3 25 | $108.3M | $5.3M | ||
| Q2 25 | $4.4M | $533.0K | ||
| Q1 25 | $-53.4M | $292.0K | ||
| Q4 24 | $19.3M | $21.6M | ||
| Q3 24 | — | $11.1M | ||
| Q2 24 | $-8.4M | $-6.0M | ||
| Q1 24 | $-133.3M | $7.4M |
自由现金流率APLSPMTS
| Q4 25 | -7.1% | 23.0% | ||
| Q3 25 | 23.6% | 3.8% | ||
| Q2 25 | 2.5% | 0.4% | ||
| Q1 25 | -32.0% | 0.2% | ||
| Q4 24 | 9.1% | 17.3% | ||
| Q3 24 | — | 8.9% | ||
| Q2 24 | -4.2% | -5.0% | ||
| Q1 24 | -77.3% | 6.6% |
资本支出强度APLSPMTS
| Q4 25 | 0.1% | 2.9% | ||
| Q3 25 | 0.0% | 3.4% | ||
| Q2 25 | 0.0% | 2.9% | ||
| Q1 25 | 0.0% | 4.3% | ||
| Q4 24 | 0.0% | 4.0% | ||
| Q3 24 | 0.0% | 1.2% | ||
| Q2 24 | 0.0% | 1.0% | ||
| Q1 24 | 0.2% | 1.3% |
现金转化率APLSPMTS
| Q4 25 | — | 5.39× | ||
| Q3 25 | 0.50× | 4.32× | ||
| Q2 25 | — | 8.39× | ||
| Q1 25 | — | 1.17× | ||
| Q4 24 | — | 3.94× | ||
| Q3 24 | — | 9.70× | ||
| Q2 24 | — | -0.79× | ||
| Q1 24 | — | 1.63× |
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% |
PMTS
| US Debit And Credit | $128.9M | 84% |
| US Prepaid Debit | $24.4M | 16% |
