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Apellis Pharmaceuticals, Inc.（APLS）与Soho House & Co Inc.（SHCO）财务数据对比。点击上方公司名可切换其他公司
Soho House & Co Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.9倍（$370.8M vs $199.9M），Soho House & Co Inc.净利率更高（-5.0% vs -29.5%，领先24.4%），Soho House & Co Inc.同比增速更快（11.2% vs -5.9%），Soho House & Co Inc.自由现金流更多（$3.5M vs $-14.3M），过去两年Soho House & Co Inc.的营收复合增速更高（13.5% 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。
Soho House & Co Inc.是面向媒体、艺术及时尚领域从业者的国际私人会员俱乐部，主打为创意产业相关人群提供专属社交、休闲与资源对接空间，在全球多个核心城市布局线下据点，服务注重圈层属性与文化氛围的高端用户群体。
APLS vs SHCO — 直观对比
营收规模更大
SHCO
是对方的1.9倍
$199.9M
营收增速更快
SHCO
高出17.1%
-5.9%
净利率更高
SHCO
高出24.4%
-29.5%
自由现金流更多
SHCO
多$17.8M
$-14.3M
两年增速更快
SHCO
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $370.8M |
| 净利润 | $-59.0M | $-18.7M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | -1.6% |
| 净利率 | -29.5% | -5.0% |
| 营收同比 | -5.9% | 11.2% |
| 净利润同比 | -62.2% | -10790.3% |
| 每股收益（稀释后） | $-0.40 | $-0.10 |
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APLSSHCO
| Q4 25 | $199.9M | — | ||
| Q3 25 | $458.6M | $370.8M | ||
| Q2 25 | $178.5M | $329.8M | ||
| Q1 25 | $166.8M | $282.9M | ||
| Q4 24 | $212.5M | $305.6M | ||
| Q3 24 | $196.8M | $333.4M | ||
| Q2 24 | $199.7M | $302.9M | ||
| Q1 24 | $172.3M | $261.9M |
净利润APLSSHCO
| Q4 25 | $-59.0M | — | ||
| Q3 25 | $215.7M | $-18.7M | ||
| Q2 25 | $-42.2M | $24.9M | ||
| Q1 25 | $-92.2M | $8.2M | ||
| Q4 24 | $-36.4M | $-91.7M | ||
| Q3 24 | $-57.4M | $175.0K | ||
| Q2 24 | $-37.7M | $-29.9M | ||
| Q1 24 | $-66.4M | $-41.6M |
营业利润率APLSSHCO
| Q4 25 | -25.6% | — | ||
| Q3 25 | 48.7% | -1.6% | ||
| Q2 25 | -18.6% | 18.1% | ||
| Q1 25 | -50.0% | 12.3% | ||
| Q4 24 | -12.3% | -23.1% | ||
| Q3 24 | -24.0% | 11.4% | ||
| Q2 24 | -14.7% | -4.3% | ||
| Q1 24 | -36.0% | -9.3% |
净利率APLSSHCO
| Q4 25 | -29.5% | — | ||
| Q3 25 | 47.0% | -5.0% | ||
| Q2 25 | -23.6% | 7.5% | ||
| Q1 25 | -55.3% | 2.9% | ||
| Q4 24 | -17.1% | -30.0% | ||
| Q3 24 | -29.2% | 0.1% | ||
| Q2 24 | -18.9% | -9.9% | ||
| Q1 24 | -38.5% | -15.9% |
每股收益（稀释后）APLSSHCO
| Q4 25 | $-0.40 | — | ||
| Q3 25 | $1.67 | $-0.10 | ||
| Q2 25 | $-0.33 | $0.13 | ||
| Q1 25 | $-0.74 | $0.04 | ||
| Q4 24 | $-0.30 | $-0.48 | ||
| Q3 24 | $-0.46 | $0.00 | ||
| Q2 24 | $-0.30 | $-0.15 | ||
| Q1 24 | $-0.54 | $-0.21 |
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 | $142.5M |
| 总债务越低越好 | — | $735.8M |
| 股东权益账面价值 | $370.1M | $-351.6M |
| 总资产 | $1.1B | $2.7B |
| 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APLSSHCO
| Q4 25 | $466.2M | — | ||
| Q3 25 | $479.2M | $142.5M | ||
| Q2 25 | $370.0M | $150.3M | ||
| Q1 25 | $358.4M | $150.1M | ||
| Q4 24 | $411.3M | $152.7M | ||
| Q3 24 | $396.9M | $142.8M | ||
| Q2 24 | $360.1M | $148.5M | ||
| Q1 24 | $325.9M | $139.8M |
总债务APLSSHCO
| Q4 25 | — | — | ||
| Q3 25 | — | $735.8M | ||
| Q2 25 | — | $729.8M | ||
| Q1 25 | — | $705.1M | ||
| Q4 24 | — | $691.5M | ||
| Q3 24 | — | $694.8M | ||
| Q2 24 | — | $682.1M | ||
| Q1 24 | $93.1M | $671.7M |
股东权益APLSSHCO
| Q4 25 | $370.1M | — | ||
| Q3 25 | $401.2M | $-351.6M | ||
| Q2 25 | $156.3M | $-348.6M | ||
| Q1 25 | $164.2M | $-340.1M | ||
| Q4 24 | $228.5M | $-335.1M | ||
| Q3 24 | $237.1M | $-279.4M | ||
| Q2 24 | $264.3M | $-231.7M | ||
| Q1 24 | $266.7M | $-193.0M |
总资产APLSSHCO
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | $2.7B | ||
| Q2 25 | $821.4M | $2.6B | ||
| Q1 25 | $807.3M | $2.5B | ||
| Q4 24 | $885.1M | $2.4B | ||
| Q3 24 | $901.9M | $2.6B | ||
| Q2 24 | $904.5M | $2.6B | ||
| Q1 24 | $831.9M | $2.5B |
负债/权益比APLSSHCO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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 | $34.9M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $3.5M |
| 自由现金流率自由现金流/营收 | -7.1% | 0.9% |
| 资本支出强度资本支出/营收 | 0.1% | 8.5% |
| 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 | $41.9M |
8季度趋势，按日历期对齐
经营现金流APLSSHCO
| Q4 25 | $-14.2M | — | ||
| Q3 25 | $108.5M | $34.9M | ||
| Q2 25 | $4.4M | $41.0M | ||
| Q1 25 | $-53.4M | $22.8M | ||
| Q4 24 | $19.4M | $26.9M | ||
| Q3 24 | $34.1M | $20.6M | ||
| Q2 24 | $-8.3M | $36.0M | ||
| Q1 24 | $-133.0M | $6.2M |
自由现金流APLSSHCO
| Q4 25 | $-14.3M | — | ||
| Q3 25 | $108.3M | $3.5M | ||
| Q2 25 | $4.4M | $12.4M | ||
| Q1 25 | $-53.4M | $7.5M | ||
| Q4 24 | $19.3M | $18.5M | ||
| Q3 24 | — | $10.3M | ||
| Q2 24 | $-8.4M | $10.2M | ||
| Q1 24 | $-133.3M | $-13.5M |
自由现金流率APLSSHCO
| Q4 25 | -7.1% | — | ||
| Q3 25 | 23.6% | 0.9% | ||
| Q2 25 | 2.5% | 3.8% | ||
| Q1 25 | -32.0% | 2.7% | ||
| Q4 24 | 9.1% | 6.1% | ||
| Q3 24 | — | 3.1% | ||
| Q2 24 | -4.2% | 3.4% | ||
| Q1 24 | -77.3% | -5.2% |
资本支出强度APLSSHCO
| Q4 25 | 0.1% | — | ||
| Q3 25 | 0.0% | 8.5% | ||
| Q2 25 | 0.0% | 8.7% | ||
| Q1 25 | 0.0% | 5.4% | ||
| Q4 24 | 0.0% | 2.7% | ||
| Q3 24 | 0.0% | 3.1% | ||
| Q2 24 | 0.0% | 8.5% | ||
| Q1 24 | 0.2% | 7.5% |
现金转化率APLSSHCO
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | 1.65× | ||
| Q1 25 | — | 2.79× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 117.70× | ||
| Q2 24 | — | — | ||
| Q1 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% |
SHCO
| Membership | $122.7M | 33% |
| Other | $122.0M | 33% |
| Membership Revenue | $58.5M | 16% |
| Other Revenue | $28.5M | 8% |
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $24.8M | 7% |
| Elimination Of Equity Accounted Revenue | $13.4M | 4% |
| Related Party | $2.0M | 1% |
| Soho House | $1.0M | 0% |
