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Apellis Pharmaceuticals, Inc.（APLS）与PROASSURANCE CORP（PRA）财务数据对比。点击上方公司名可切换其他公司
PROASSURANCE CORP的季度营收约是Apellis Pharmaceuticals, Inc.的1.3倍（$269.6M vs $199.9M），PROASSURANCE CORP净利率更高（12.4% vs -29.5%，领先41.9%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -7.1%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -2.7%）
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。
保信集团（ProAssurance）总部位于美国阿拉巴马州伯明翰，是一家财产意外保险公司，主打面向医生的职业责任保险业务。公司前身为1976年成立的Mutual Assurance，1997年更名为Medical Assurance，2001年与Professionals Group合并后改为现名，目前是全美第四大医疗职业责任险承保机构，总资产超60亿美元。
APLS vs PRA — 直观对比
营收规模更大
PRA
是对方的1.3倍
$199.9M
营收增速更快
APLS
高出1.1%
-7.1%
净利率更高
PRA
高出41.9%
-29.5%
两年增速更快
APLS
近两年复合增速
-2.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $269.6M |
| 净利润 | $-59.0M | $33.4M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 17.3% |
| 净利率 | -29.5% | 12.4% |
| 营收同比 | -5.9% | -7.1% |
| 净利润同比 | -62.2% | 106.4% |
| 每股收益（稀释后） | $-0.40 | $0.65 |
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APLSPRA
| Q4 25 | $199.9M | $269.6M | ||
| Q3 25 | $458.6M | $279.6M | ||
| Q2 25 | $178.5M | $276.8M | ||
| Q1 25 | $166.8M | $272.1M | ||
| Q4 24 | $212.5M | $290.1M | ||
| Q3 24 | $196.8M | $285.3M | ||
| Q2 24 | $199.7M | $290.4M | ||
| Q1 24 | $172.3M | $284.7M |
净利润APLSPRA
| Q4 25 | $-59.0M | $33.4M | ||
| Q3 25 | $215.7M | $1.4M | ||
| Q2 25 | $-42.2M | $21.9M | ||
| Q1 25 | $-92.2M | $-5.8M | ||
| Q4 24 | $-36.4M | $16.2M | ||
| Q3 24 | $-57.4M | $16.4M | ||
| Q2 24 | $-37.7M | $15.5M | ||
| Q1 24 | $-66.4M | $4.6M |
营业利润率APLSPRA
| Q4 25 | -25.6% | 17.3% | ||
| Q3 25 | 48.7% | 1.6% | ||
| Q2 25 | -18.6% | 9.9% | ||
| Q1 25 | -50.0% | -2.3% | ||
| Q4 24 | -12.3% | 6.5% | ||
| Q3 24 | -24.0% | 7.4% | ||
| Q2 24 | -14.7% | 6.2% | ||
| Q1 24 | -36.0% | 1.9% |
净利率APLSPRA
| Q4 25 | -29.5% | 12.4% | ||
| Q3 25 | 47.0% | 0.5% | ||
| Q2 25 | -23.6% | 7.9% | ||
| Q1 25 | -55.3% | -2.1% | ||
| Q4 24 | -17.1% | 5.6% | ||
| Q3 24 | -29.2% | 5.8% | ||
| Q2 24 | -18.9% | 5.3% | ||
| Q1 24 | -38.5% | 1.6% |
每股收益（稀释后）APLSPRA
| Q4 25 | $-0.40 | $0.65 | ||
| Q3 25 | $1.67 | $0.03 | ||
| Q2 25 | $-0.33 | $0.42 | ||
| Q1 25 | $-0.74 | $-0.11 | ||
| Q4 24 | $-0.30 | $0.32 | ||
| Q3 24 | $-0.46 | $0.32 | ||
| Q2 24 | $-0.30 | $0.30 | ||
| Q1 24 | $-0.54 | $0.09 |
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 | $36.5M |
| 总债务越低越好 | — | $420.4M |
| 股东权益账面价值 | $370.1M | $1.3B |
| 总资产 | $1.1B | $5.4B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资APLSPRA
| Q4 25 | $466.2M | $36.5M | ||
| Q3 25 | $479.2M | $54.5M | ||
| Q2 25 | $370.0M | $41.6M | ||
| Q1 25 | $358.4M | $43.5M | ||
| Q4 24 | $411.3M | $54.9M | ||
| Q3 24 | $396.9M | $45.3M | ||
| Q2 24 | $360.1M | $36.9M | ||
| Q1 24 | $325.9M | $65.4M |
总债务APLSPRA
| Q4 25 | — | $420.4M | ||
| Q3 25 | — | $421.5M | ||
| Q2 25 | — | $422.6M | ||
| Q1 25 | — | $423.7M | ||
| Q4 24 | — | $424.9M | ||
| Q3 24 | — | $425.9M | ||
| Q2 24 | — | $426.9M | ||
| Q1 24 | $93.1M | $427.8M |
股东权益APLSPRA
| Q4 25 | $370.1M | $1.3B | ||
| Q3 25 | $401.2M | $1.3B | ||
| Q2 25 | $156.3M | $1.3B | ||
| Q1 25 | $164.2M | $1.2B | ||
| Q4 24 | $228.5M | $1.2B | ||
| Q3 24 | $237.1M | $1.2B | ||
| Q2 24 | $264.3M | $1.1B | ||
| Q1 24 | $266.7M | $1.1B |
总资产APLSPRA
| Q4 25 | $1.1B | $5.4B | ||
| Q3 25 | $1.1B | $5.6B | ||
| Q2 25 | $821.4M | $5.5B | ||
| Q1 25 | $807.3M | $5.5B | ||
| Q4 24 | $885.1M | $5.6B | ||
| Q3 24 | $901.9M | $5.7B | ||
| Q2 24 | $904.5M | $5.6B | ||
| Q1 24 | $831.9M | $5.7B |
负债/权益比APLSPRA
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.34× | ||
| Q4 24 | — | 0.35× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | 0.35× | 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 | $-25.6M |
| 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 | — | -0.77× |
| 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APLSPRA
| Q4 25 | $-14.2M | $-25.6M | ||
| Q3 25 | $108.5M | $27.2M | ||
| Q2 25 | $4.4M | $-28.1M | ||
| Q1 25 | $-53.4M | $-11.6M | ||
| Q4 24 | $19.4M | $-10.7M | ||
| Q3 24 | $34.1M | $14.0M | ||
| Q2 24 | $-8.3M | $-12.8M | ||
| Q1 24 | $-133.0M | $-11.6M |
自由现金流APLSPRA
| 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 | — | ||
| Q1 24 | $-133.3M | — |
自由现金流率APLSPRA
| 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% | — | ||
| Q1 24 | -77.3% | — |
资本支出强度APLSPRA
| 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% | — | ||
| Q1 24 | 0.2% | — |
现金转化率APLSPRA
| Q4 25 | — | -0.77× | ||
| Q3 25 | 0.50× | 18.81× | ||
| Q2 25 | — | -1.28× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -0.66× | ||
| Q3 24 | — | 0.85× | ||
| Q2 24 | — | -0.83× | ||
| Q1 24 | — | -2.52× |
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% |
PRA
| Workers Compensation Insurance Segment | $164.4M | 61% |
| Other | $59.6M | 22% |
| Segregated Portfolio Cell Reinsurance | $45.7M | 17% |
