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Apellis Pharmaceuticals, Inc.（APLS）与RAYONIER INC（RYN）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RAYONIER INC的1.7倍（$199.9M vs $117.5M），RAYONIER INC净利率更高（22.1% vs -29.5%，领先51.5%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -81.9%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 1.7%）
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。
Rayonier Inc.是总部位于佛罗里达州怀尔德莱特的林地房地产投资信托（REIT），资产分布在美国和新西兰的软木种植区域，核心业务板块为木材业务与房地产业务。
APLS vs RYN — 直观对比
营收规模更大
APLS
是对方的1.7倍
$117.5M
营收增速更快
APLS
高出76.0%
-81.9%
净利率更高
RYN
高出51.5%
-29.5%
两年增速更快
APLS
近两年复合增速
1.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $117.5M |
| 净利润 | $-59.0M | $25.9M |
| 毛利率 | — | 41.9% |
| 营业利润率 | -25.6% | 23.0% |
| 净利率 | -29.5% | 22.1% |
| 营收同比 | -5.9% | -81.9% |
| 净利润同比 | -62.2% | -92.1% |
| 每股收益（稀释后） | $-0.40 | $0.14 |
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APLSRYN
| Q4 25 | $199.9M | $117.5M | ||
| Q3 25 | $458.6M | $177.5M | ||
| Q2 25 | $178.5M | $106.5M | ||
| Q1 25 | $166.8M | $82.9M | ||
| Q4 24 | $212.5M | $650.5M | ||
| Q3 24 | $196.8M | $124.1M | ||
| Q2 24 | $199.7M | $99.6M | ||
| Q1 24 | $172.3M | $113.7M |
净利润APLSRYN
| Q4 25 | $-59.0M | $25.9M | ||
| Q3 25 | $215.7M | $43.2M | ||
| Q2 25 | $-42.2M | $408.7M | ||
| Q1 25 | $-92.2M | $-3.4M | ||
| Q4 24 | $-36.4M | $327.1M | ||
| Q3 24 | $-57.4M | $28.8M | ||
| Q2 24 | $-37.7M | $1.9M | ||
| Q1 24 | $-66.4M | $1.4M |
毛利率APLSRYN
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 32.9% | ||
| Q2 25 | — | 29.7% | ||
| Q1 25 | — | 21.7% | ||
| Q4 24 | — | 53.8% | ||
| Q3 24 | — | 30.4% | ||
| Q2 24 | — | 25.4% | ||
| Q1 24 | — | 24.3% |
营业利润率APLSRYN
| Q4 25 | -25.6% | 23.0% | ||
| Q3 25 | 48.7% | 23.5% | ||
| Q2 25 | -18.6% | 13.7% | ||
| Q1 25 | -50.0% | 0.1% | ||
| Q4 24 | -12.3% | 47.7% | ||
| Q3 24 | -24.0% | 15.2% | ||
| Q2 24 | -14.7% | 4.6% | ||
| Q1 24 | -36.0% | 7.6% |
净利率APLSRYN
| Q4 25 | -29.5% | 22.1% | ||
| Q3 25 | 47.0% | 24.3% | ||
| Q2 25 | -23.6% | 383.6% | ||
| Q1 25 | -55.3% | -4.1% | ||
| Q4 24 | -17.1% | 45.1% | ||
| Q3 24 | -29.2% | 23.2% | ||
| Q2 24 | -18.9% | 1.9% | ||
| Q1 24 | -38.5% | 1.2% |
每股收益（稀释后）APLSRYN
| Q4 25 | $-0.40 | $0.14 | ||
| Q3 25 | $1.67 | $0.28 | ||
| Q2 25 | $-0.33 | $2.63 | ||
| Q1 25 | $-0.74 | $-0.02 | ||
| Q4 24 | $-0.30 | $2.18 | ||
| Q3 24 | $-0.46 | $0.19 | ||
| Q2 24 | $-0.30 | $0.01 | ||
| Q1 24 | $-0.54 | $0.01 |
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 | $842.9M |
| 总债务越低越好 | — | $845.3M |
| 股东权益账面价值 | $370.1M | $2.2B |
| 总资产 | $1.1B | $3.4B |
| 负债/权益比越低杠杆越低 | — | 0.38× |
8季度趋势，按日历期对齐
现金及短期投资APLSRYN
| Q4 25 | $466.2M | $842.9M | ||
| Q3 25 | $479.2M | $919.6M | ||
| Q2 25 | $370.0M | $892.3M | ||
| Q1 25 | $358.4M | $216.2M | ||
| Q4 24 | $411.3M | $303.1M | ||
| Q3 24 | $396.9M | $51.9M | ||
| Q2 24 | $360.1M | $120.2M | ||
| Q1 24 | $325.9M | $142.1M |
总债务APLSRYN
| Q4 25 | — | $845.3M | ||
| Q3 25 | — | $845.1M | ||
| Q2 25 | — | $844.9M | ||
| Q1 25 | — | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $93.1M | $1.4B |
股东权益APLSRYN
| Q4 25 | $370.1M | $2.2B | ||
| Q3 25 | $401.2M | $2.3B | ||
| Q2 25 | $156.3M | $2.3B | ||
| Q1 25 | $164.2M | $1.9B | ||
| Q4 24 | $228.5M | $1.8B | ||
| Q3 24 | $237.1M | $1.8B | ||
| Q2 24 | $264.3M | $1.8B | ||
| Q1 24 | $266.7M | $1.8B |
总资产APLSRYN
| Q4 25 | $1.1B | $3.4B | ||
| Q3 25 | $1.1B | $3.5B | ||
| Q2 25 | $821.4M | $3.5B | ||
| Q1 25 | $807.3M | $3.4B | ||
| Q4 24 | $885.1M | $3.5B | ||
| Q3 24 | $901.9M | $3.5B | ||
| Q2 24 | $904.5M | $3.5B | ||
| Q1 24 | $831.9M | $3.6B |
负债/权益比APLSRYN
| Q4 25 | — | 0.38× | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | 0.55× | ||
| Q4 24 | — | 0.59× | ||
| Q3 24 | — | 0.72× | ||
| Q2 24 | — | 0.75× | ||
| Q1 24 | 0.35× | 0.74× |
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 | $256.7M |
| 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 | — | 9.91× |
| 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APLSRYN
| Q4 25 | $-14.2M | $256.7M | ||
| Q3 25 | $108.5M | $116.2M | ||
| Q2 25 | $4.4M | $61.0M | ||
| Q1 25 | $-53.4M | $27.7M | ||
| Q4 24 | $19.4M | $261.6M | ||
| Q3 24 | $34.1M | $66.2M | ||
| Q2 24 | $-8.3M | $55.3M | ||
| Q1 24 | $-133.0M | $52.3M |
自由现金流APLSRYN
| Q4 25 | $-14.3M | — | ||
| Q3 25 | $108.3M | $99.9M | ||
| Q2 25 | $4.4M | — | ||
| Q1 25 | $-53.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | — | $42.2M | ||
| Q2 24 | $-8.4M | — | ||
| Q1 24 | $-133.3M | — |
自由现金流率APLSRYN
| Q4 25 | -7.1% | — | ||
| Q3 25 | 23.6% | 56.3% | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | -32.0% | — | ||
| Q4 24 | 9.1% | — | ||
| Q3 24 | — | 34.0% | ||
| Q2 24 | -4.2% | — | ||
| Q1 24 | -77.3% | — |
资本支出强度APLSRYN
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | 9.2% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.0% | 19.3% | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.2% | — |
现金转化率APLSRYN
| Q4 25 | — | 9.91× | ||
| Q3 25 | 0.50× | 2.69× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 2.30× | ||
| Q2 24 | — | 29.07× | ||
| Q1 24 | — | 38.54× |
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% |
RYN
| Real Estate Segment | $42.3M | 36% |
| Pacific Northwest Timber Segment | $19.8M | 17% |
| Stumpage Pay As Cut | $19.3M | 16% |
| Improved Development | $14.8M | 13% |
| Nontimber | $13.2M | 11% |
| License Revenue Primarily From Hunting | $5.3M | 4% |
| Land Based Solutions | $2.9M | 2% |
