vs
Apellis Pharmaceuticals, Inc.（APLS）与ROYAL GOLD INC（RGLD）财务数据对比。点击上方公司名可切换其他公司
ROYAL GOLD INC的季度营收约是Apellis Pharmaceuticals, Inc.的1.9倍（$375.3M vs $199.9M），ROYAL GOLD INC净利率更高（24.9% vs -29.5%，领先54.4%），ROYAL GOLD INC同比增速更快（85.3% vs -5.9%），过去两年ROYAL GOLD INC的营收复合增速更高（58.8% 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。
Royal Gold Inc.是全球领先的贵金属流权与特许权经营企业，收购并管理多元化的矿业项目流权、净熔炼收益特许权及相关权益，资产覆盖黄金、白银、铜等品类，业务遍及多地区，无需直接承担采矿运营风险。
APLS vs RGLD — 直观对比
营收规模更大
RGLD
是对方的1.9倍
$199.9M
营收增速更快
RGLD
高出91.2%
-5.9%
净利率更高
RGLD
高出54.4%
-29.5%
两年增速更快
RGLD
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $375.3M |
| 净利润 | $-59.0M | $93.6M |
| 毛利率 | — | 64.6% |
| 营业利润率 | -25.6% | 56.2% |
| 净利率 | -29.5% | 24.9% |
| 营收同比 | -5.9% | 85.3% |
| 净利润同比 | -62.2% | -12.8% |
| 每股收益（稀释后） | $-0.40 | $1.04 |
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APLSRGLD
| Q4 25 | $199.9M | $375.3M | ||
| Q3 25 | $458.6M | $252.1M | ||
| Q2 25 | $178.5M | $209.6M | ||
| Q1 25 | $166.8M | $193.4M | ||
| Q4 24 | $212.5M | $202.6M | ||
| Q3 24 | $196.8M | $193.8M | ||
| Q2 24 | $199.7M | $174.1M | ||
| Q1 24 | $172.3M | $148.9M |
净利润APLSRGLD
| Q4 25 | $-59.0M | $93.6M | ||
| Q3 25 | $215.7M | $126.8M | ||
| Q2 25 | $-42.2M | $132.3M | ||
| Q1 25 | $-92.2M | $113.5M | ||
| Q4 24 | $-36.4M | $107.4M | ||
| Q3 24 | $-57.4M | $96.2M | ||
| Q2 24 | $-37.7M | $81.2M | ||
| Q1 24 | $-66.4M | $47.2M |
毛利率APLSRGLD
| Q4 25 | — | 64.6% | ||
| Q3 25 | — | 73.6% | ||
| Q2 25 | — | 72.6% | ||
| Q1 25 | — | 69.4% | ||
| Q4 24 | — | 70.3% | ||
| Q3 24 | — | 66.6% | ||
| Q2 24 | — | 64.7% | ||
| Q1 24 | — | 58.4% |
营业利润率APLSRGLD
| Q4 25 | -25.6% | 56.2% | ||
| Q3 25 | 48.7% | 64.4% | ||
| Q2 25 | -18.6% | 67.7% | ||
| Q1 25 | -50.0% | 63.6% | ||
| Q4 24 | -12.3% | 65.9% | ||
| Q3 24 | -24.0% | 61.3% | ||
| Q2 24 | -14.7% | 58.6% | ||
| Q1 24 | -36.0% | 50.7% |
净利率APLSRGLD
| Q4 25 | -29.5% | 24.9% | ||
| Q3 25 | 47.0% | 50.3% | ||
| Q2 25 | -23.6% | 63.1% | ||
| Q1 25 | -55.3% | 58.7% | ||
| Q4 24 | -17.1% | 53.0% | ||
| Q3 24 | -29.2% | 49.7% | ||
| Q2 24 | -18.9% | 46.6% | ||
| Q1 24 | -38.5% | 31.7% |
每股收益（稀释后）APLSRGLD
| Q4 25 | $-0.40 | $1.04 | ||
| Q3 25 | $1.67 | $1.92 | ||
| Q2 25 | $-0.33 | $2.01 | ||
| Q1 25 | $-0.74 | $1.72 | ||
| Q4 24 | $-0.30 | $1.63 | ||
| Q3 24 | $-0.46 | $1.46 | ||
| Q2 24 | $-0.30 | $1.23 | ||
| Q1 24 | $-0.54 | $0.72 |
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 | $233.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $7.2B |
| 总资产 | $1.1B | $9.5B |
| 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APLSRGLD
| Q4 25 | $466.2M | $233.7M | ||
| Q3 25 | $479.2M | $172.8M | ||
| Q2 25 | $370.0M | $248.2M | ||
| Q1 25 | $358.4M | $240.8M | ||
| Q4 24 | $411.3M | $195.5M | ||
| Q3 24 | $396.9M | $127.9M | ||
| Q2 24 | $360.1M | $74.2M | ||
| Q1 24 | $325.9M | $137.9M |
总债务APLSRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $50.0M | ||
| Q1 24 | $93.1M | — |
股东权益APLSRGLD
| Q4 25 | $370.1M | $7.2B | ||
| Q3 25 | $401.2M | $3.4B | ||
| Q2 25 | $156.3M | $3.3B | ||
| Q1 25 | $164.2M | $3.2B | ||
| Q4 24 | $228.5M | $3.1B | ||
| Q3 24 | $237.1M | $3.0B | ||
| Q2 24 | $264.3M | $3.0B | ||
| Q1 24 | $266.7M | $2.9B |
总资产APLSRGLD
| Q4 25 | $1.1B | $9.5B | ||
| Q3 25 | $1.1B | $4.5B | ||
| Q2 25 | $821.4M | $3.6B | ||
| Q1 25 | $807.3M | $3.5B | ||
| Q4 24 | $885.1M | $3.4B | ||
| Q3 24 | $901.9M | $3.3B | ||
| Q2 24 | $904.5M | $3.3B | ||
| Q1 24 | $831.9M | $3.3B |
负债/权益比APLSRGLD
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.02× | ||
| 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 | $241.7M |
| 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 | — | 2.58× |
| 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APLSRGLD
| Q4 25 | $-14.2M | $241.7M | ||
| Q3 25 | $108.5M | $174.0M | ||
| Q2 25 | $4.4M | $152.8M | ||
| Q1 25 | $-53.4M | $136.4M | ||
| Q4 24 | $19.4M | $141.1M | ||
| Q3 24 | $34.1M | $136.7M | ||
| Q2 24 | $-8.3M | $113.5M | ||
| Q1 24 | $-133.0M | $138.3M |
自由现金流APLSRGLD
| 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APLSRGLD
| 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APLSRGLD
| 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APLSRGLD
| Q4 25 | — | 2.58× | ||
| Q3 25 | 0.50× | 1.37× | ||
| Q2 25 | — | 1.15× | ||
| Q1 25 | — | 1.20× | ||
| Q4 24 | — | 1.31× | ||
| Q3 24 | — | 1.42× | ||
| Q2 24 | — | 1.40× | ||
| Q1 24 | — | 2.93× |
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% |
RGLD
| Gold | $216.9M | 58% |
| Pueblo Viejo | $47.3M | 13% |
| Andacollo | $32.6M | 9% |
| Silver | $32.1M | 9% |
| Other | $27.2M | 7% |
| Copper | $13.7M | 4% |
| Cortez Legacy Zone | $5.4M | 1% |
