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Apellis Pharmaceuticals, Inc.（APLS）与ServisFirst Bancshares, Inc.（SFBS）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ServisFirst Bancshares, Inc.的1.3倍（$199.9M vs $159.0M），ServisFirst Bancshares, Inc.净利率更高（52.2% vs -29.5%，领先81.7%），过去两年ServisFirst Bancshares, Inc.的营收复合增速更高（17.7% 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。
ServisFirst Bancshares是一家总部位于美国的银行控股公司，主要在美国东南部地区运营全服务银行网点，为中小企业、专业客户及个人消费者提供商业银行、个人银行、财富管理及抵押贷款等多元金融服务。
APLS vs SFBS — 直观对比
营收规模更大
APLS
是对方的1.3倍
$159.0M
净利率更高
SFBS
高出81.7%
-29.5%
两年增速更快
SFBS
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $159.0M |
| 净利润 | $-59.0M | $83.0M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | — |
| 净利率 | -29.5% | 52.2% |
| 营收同比 | -5.9% | — |
| 净利润同比 | -62.2% | 31.2% |
| 每股收益（稀释后） | $-0.40 | $1.52 |
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APLSSFBS
| Q1 26 | — | $159.0M | ||
| Q4 25 | $199.9M | $162.2M | ||
| Q3 25 | $458.6M | $136.3M | ||
| Q2 25 | $178.5M | $132.1M | ||
| Q1 25 | $166.8M | $131.8M | ||
| Q4 24 | $212.5M | $131.9M | ||
| Q3 24 | $196.8M | $123.7M | ||
| Q2 24 | $199.7M | $114.8M |
净利润APLSSFBS
| Q1 26 | — | $83.0M | ||
| Q4 25 | $-59.0M | $86.4M | ||
| Q3 25 | $215.7M | $65.6M | ||
| Q2 25 | $-42.2M | $61.4M | ||
| Q1 25 | $-92.2M | $63.2M | ||
| Q4 24 | $-36.4M | $65.2M | ||
| Q3 24 | $-57.4M | $59.9M | ||
| Q2 24 | $-37.7M | $52.1M |
营业利润率APLSSFBS
| Q1 26 | — | — | ||
| Q4 25 | -25.6% | 66.3% | ||
| Q3 25 | 48.7% | 57.8% | ||
| Q2 25 | -18.6% | 58.0% | ||
| Q1 25 | -50.0% | 60.0% | ||
| Q4 24 | -12.3% | 60.2% | ||
| Q3 24 | -24.0% | 58.5% | ||
| Q2 24 | -14.7% | 58.0% |
净利率APLSSFBS
| Q1 26 | — | 52.2% | ||
| Q4 25 | -29.5% | 59.0% | ||
| Q3 25 | 47.0% | 48.1% | ||
| Q2 25 | -23.6% | 46.5% | ||
| Q1 25 | -55.3% | 48.0% | ||
| Q4 24 | -17.1% | 52.9% | ||
| Q3 24 | -29.2% | 48.4% | ||
| Q2 24 | -18.9% | 45.4% |
每股收益（稀释后）APLSSFBS
| Q1 26 | — | $1.52 | ||
| Q4 25 | $-0.40 | $1.58 | ||
| Q3 25 | $1.67 | $1.20 | ||
| Q2 25 | $-0.33 | $1.12 | ||
| Q1 25 | $-0.74 | $1.16 | ||
| Q4 24 | $-0.30 | $1.19 | ||
| Q3 24 | $-0.46 | $1.10 | ||
| Q2 24 | $-0.30 | $0.95 |
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 | $1.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $1.9B |
| 总资产 | $1.1B | $18.2B |
| 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APLSSFBS
| Q1 26 | — | $1.8B | ||
| Q4 25 | $466.2M | — | ||
| Q3 25 | $479.2M | — | ||
| Q2 25 | $370.0M | — | ||
| Q1 25 | $358.4M | — | ||
| Q4 24 | $411.3M | — | ||
| Q3 24 | $396.9M | — | ||
| Q2 24 | $360.1M | — |
股东权益APLSSFBS
| Q1 26 | — | $1.9B | ||
| Q4 25 | $370.1M | $1.8B | ||
| Q3 25 | $401.2M | $1.8B | ||
| Q2 25 | $156.3M | $1.7B | ||
| Q1 25 | $164.2M | $1.7B | ||
| Q4 24 | $228.5M | $1.6B | ||
| Q3 24 | $237.1M | $1.6B | ||
| Q2 24 | $264.3M | $1.5B |
总资产APLSSFBS
| Q1 26 | — | $18.2B | ||
| Q4 25 | $1.1B | $17.7B | ||
| Q3 25 | $1.1B | $17.6B | ||
| Q2 25 | $821.4M | $17.4B | ||
| Q1 25 | $807.3M | $18.6B | ||
| Q4 24 | $885.1M | $17.4B | ||
| Q3 24 | $901.9M | $16.4B | ||
| Q2 24 | $904.5M | $16.0B |
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APLSSFBS
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $355.2M | ||
| Q3 25 | $108.5M | $140.9M | ||
| Q2 25 | $4.4M | $67.6M | ||
| Q1 25 | $-53.4M | $48.0M | ||
| Q4 24 | $19.4M | $252.9M | ||
| Q3 24 | $34.1M | $84.0M | ||
| Q2 24 | $-8.3M | $48.3M |
自由现金流APLSSFBS
| Q1 26 | — | — | ||
| 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 | — |
自由现金流率APLSSFBS
| Q1 26 | — | — | ||
| 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% | — |
资本支出强度APLSSFBS
| Q1 26 | — | — | ||
| 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% | — |
现金转化率APLSSFBS
| Q1 26 | — | — | ||
| Q4 25 | — | 4.11× | ||
| Q3 25 | 0.50× | 2.15× | ||
| Q2 25 | — | 1.10× | ||
| Q1 25 | — | 0.76× | ||
| Q4 24 | — | 3.88× | ||
| Q3 24 | — | 1.40× | ||
| Q2 24 | — | 0.93× |
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% |
SFBS
| Net Interest Income | $148.1M | 93% |
| Noninterest Income | $10.8M | 7% |
