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Apellis Pharmaceuticals, Inc.（APLS）与Ribbon Communications Inc.（RBBN）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Ribbon Communications Inc.的1.2倍（$199.9M vs $162.6M），Ribbon Communications Inc.净利率更高（54.8% vs -29.5%，领先84.3%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -10.3%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -8.1%）
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。
睿宾通信公司（Ribbon Communications Inc.）主要为电信运营商、企业及关键基础设施领域提供软件、IP与光网络解决方案。公司于2017年由Genband与Sonus Networks合并成立，总部位于美国得克萨斯州普莱诺，是一家上市科技企业。
APLS vs RBBN — 直观对比
营收规模更大
APLS
是对方的1.2倍
$162.6M
营收增速更快
APLS
高出4.4%
-10.3%
净利率更高
RBBN
高出84.3%
-29.5%
两年增速更快
APLS
近两年复合增速
-8.1%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $162.6M |
| 净利润 | $-59.0M | $89.1M |
| 毛利率 | — | 42.9% |
| 营业利润率 | -25.6% | 37.6% |
| 净利率 | -29.5% | 54.8% |
| 营收同比 | -5.9% | -10.3% |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $0.50 |
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APLSRBBN
| Q1 26 | — | $162.6M | ||
| Q4 25 | $199.9M | $227.3M | ||
| Q3 25 | $458.6M | $215.4M | ||
| Q2 25 | $178.5M | $220.6M | ||
| Q1 25 | $166.8M | $181.3M | ||
| Q4 24 | $212.5M | $251.4M | ||
| Q3 24 | $196.8M | $210.2M | ||
| Q2 24 | $199.7M | $192.6M |
净利润APLSRBBN
| Q1 26 | — | $89.1M | ||
| Q4 25 | $-59.0M | — | ||
| Q3 25 | $215.7M | $-12.1M | ||
| Q2 25 | $-42.2M | $-11.1M | ||
| Q1 25 | $-92.2M | $-26.2M | ||
| Q4 24 | $-36.4M | — | ||
| Q3 24 | $-57.4M | $-13.4M | ||
| Q2 24 | $-37.7M | $-16.8M |
毛利率APLSRBBN
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 53.3% | ||
| Q3 25 | — | 50.1% | ||
| Q2 25 | — | 49.6% | ||
| Q1 25 | — | 45.4% | ||
| Q4 24 | — | 55.7% | ||
| Q3 24 | — | 52.1% | ||
| Q2 24 | — | 50.8% |
营业利润率APLSRBBN
| Q1 26 | — | 37.6% | ||
| Q4 25 | -25.6% | 4.1% | ||
| Q3 25 | 48.7% | 1.3% | ||
| Q2 25 | -18.6% | 1.9% | ||
| Q1 25 | -50.0% | -10.8% | ||
| Q4 24 | -12.3% | 13.2% | ||
| Q3 24 | -24.0% | -0.4% | ||
| Q2 24 | -14.7% | -1.0% |
净利率APLSRBBN
| Q1 26 | — | 54.8% | ||
| Q4 25 | -29.5% | — | ||
| Q3 25 | 47.0% | -5.6% | ||
| Q2 25 | -23.6% | -5.0% | ||
| Q1 25 | -55.3% | -14.5% | ||
| Q4 24 | -17.1% | — | ||
| Q3 24 | -29.2% | -6.4% | ||
| Q2 24 | -18.9% | -8.7% |
每股收益（稀释后）APLSRBBN
| Q1 26 | — | $0.50 | ||
| Q4 25 | $-0.40 | $0.50 | ||
| Q3 25 | $1.67 | $-0.07 | ||
| Q2 25 | $-0.33 | $-0.06 | ||
| Q1 25 | $-0.74 | $-0.15 | ||
| Q4 24 | $-0.30 | $0.05 | ||
| Q3 24 | $-0.46 | $-0.08 | ||
| Q2 24 | $-0.30 | $-0.10 |
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 | $67.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $419.1M |
| 总资产 | $1.1B | — |
| 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APLSRBBN
| Q1 26 | — | $67.6M | ||
| Q4 25 | $466.2M | $96.4M | ||
| Q3 25 | $479.2M | $74.8M | ||
| Q2 25 | $370.0M | $60.5M | ||
| Q1 25 | $358.4M | $71.2M | ||
| Q4 24 | $411.3M | $87.8M | ||
| Q3 24 | $396.9M | $37.2M | ||
| Q2 24 | $360.1M | $64.6M |
总债务APLSRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | $342.1M | ||
| Q3 25 | — | $344.3M | ||
| Q2 25 | — | $346.5M | ||
| Q1 25 | — | $347.4M | ||
| Q4 24 | — | $348.3M | ||
| Q3 24 | — | $349.1M | ||
| Q2 24 | — | $350.0M |
股东权益APLSRBBN
| Q1 26 | — | $419.1M | ||
| Q4 25 | $370.1M | $449.0M | ||
| Q3 25 | $401.2M | $360.1M | ||
| Q2 25 | $156.3M | $370.4M | ||
| Q1 25 | $164.2M | $381.8M | ||
| Q4 24 | $228.5M | $404.6M | ||
| Q3 24 | $237.1M | $395.5M | ||
| Q2 24 | $264.3M | $405.0M |
总资产APLSRBBN
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $1.2B | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $821.4M | $1.1B | ||
| Q1 25 | $807.3M | $1.1B | ||
| Q4 24 | $885.1M | $1.2B | ||
| Q3 24 | $901.9M | $1.1B | ||
| Q2 24 | $904.5M | $1.1B |
负债/权益比APLSRBBN
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.96× | ||
| Q2 25 | — | 0.94× | ||
| Q1 25 | — | 0.91× | ||
| Q4 24 | — | 0.86× | ||
| Q3 24 | — | 0.88× | ||
| Q2 24 | — | 0.86× |
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APLSRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $29.2M | ||
| Q3 25 | $108.5M | $26.5M | ||
| Q2 25 | $4.4M | $-795.0K | ||
| Q1 25 | $-53.4M | $-3.5M | ||
| Q4 24 | $19.4M | $61.8M | ||
| Q3 24 | $34.1M | $-14.8M | ||
| Q2 24 | $-8.3M | $-9.8M |
自由现金流APLSRBBN
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | $27.3M | ||
| Q3 25 | $108.3M | $21.0M | ||
| Q2 25 | $4.4M | $-6.5M | ||
| Q1 25 | $-53.4M | $-15.7M | ||
| Q4 24 | $19.3M | $53.8M | ||
| Q3 24 | — | $-23.7M | ||
| Q2 24 | $-8.4M | $-12.9M |
自由现金流率APLSRBBN
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | 12.0% | ||
| Q3 25 | 23.6% | 9.7% | ||
| Q2 25 | 2.5% | -2.9% | ||
| Q1 25 | -32.0% | -8.7% | ||
| Q4 24 | 9.1% | 21.4% | ||
| Q3 24 | — | -11.3% | ||
| Q2 24 | -4.2% | -6.7% |
资本支出强度APLSRBBN
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 0.9% | ||
| Q3 25 | 0.0% | 2.6% | ||
| Q2 25 | 0.0% | 2.6% | ||
| Q1 25 | 0.0% | 6.7% | ||
| Q4 24 | 0.0% | 3.2% | ||
| Q3 24 | 0.0% | 4.2% | ||
| Q2 24 | 0.0% | 1.6% |
现金转化率APLSRBBN
| 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% |
RBBN
| Service | $94.5M | 58% |
| Product | $68.1M | 42% |
