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Apellis Pharmaceuticals, Inc.（APLS）与Southland Holdings, Inc.（SLND）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Southland Holdings, Inc.的1.9倍（$199.9M vs $104.0M），Apellis Pharmaceuticals, Inc.净利率更高（-29.5% vs -208.2%，领先178.7%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -61.1%），Southland Holdings, Inc.自由现金流更多（$9.3M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -39.9%）
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。
Southland Holdings, Inc.是北美知名基础设施建设企业，主营公路、桥梁、机场等交通工程、水处理系统搭建及商业场地开发业务，服务公共部门及私营领域客户，业务覆盖北美核心市场。
APLS vs SLND — 直观对比
营收规模更大
APLS
是对方的1.9倍
$104.0M
营收增速更快
APLS
高出55.2%
-61.1%
净利率更高
APLS
高出178.7%
-208.2%
自由现金流更多
SLND
多$23.6M
$-14.3M
两年增速更快
APLS
近两年复合增速
-39.9%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $104.0M |
| 净利润 | $-59.0M | $-216.4M |
| 毛利率 | — | -186.0% |
| 营业利润率 | -25.6% | -202.4% |
| 净利率 | -29.5% | -208.2% |
| 营收同比 | -5.9% | -61.1% |
| 净利润同比 | -62.2% | -5108.5% |
| 每股收益（稀释后） | $-0.40 | $-4.01 |
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APLSSLND
| Q4 25 | $199.9M | $104.0M | ||
| Q3 25 | $458.6M | $213.3M | ||
| Q2 25 | $178.5M | $215.4M | ||
| Q1 25 | $166.8M | $239.5M | ||
| Q4 24 | $212.5M | $267.3M | ||
| Q3 24 | $196.8M | $173.3M | ||
| Q2 24 | $199.7M | $251.5M | ||
| Q1 24 | $172.3M | $288.1M |
净利润APLSSLND
| Q4 25 | $-59.0M | $-216.4M | ||
| Q3 25 | $215.7M | $-75.3M | ||
| Q2 25 | $-42.2M | $-10.3M | ||
| Q1 25 | $-92.2M | $-4.6M | ||
| Q4 24 | $-36.4M | $-4.2M | ||
| Q3 24 | $-57.4M | $-54.7M | ||
| Q2 24 | $-37.7M | $-46.1M | ||
| Q1 24 | $-66.4M | $-406.0K |
毛利率APLSSLND
| Q4 25 | — | -186.0% | ||
| Q3 25 | — | 1.5% | ||
| Q2 25 | — | 6.2% | ||
| Q1 25 | — | 9.0% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | -29.5% | ||
| Q2 24 | — | -15.9% | ||
| Q1 24 | — | 7.1% |
营业利润率APLSSLND
| Q4 25 | -25.6% | -202.4% | ||
| Q3 25 | 48.7% | -5.3% | ||
| Q2 25 | -18.6% | -0.1% | ||
| Q1 25 | -50.0% | 2.1% | ||
| Q4 24 | -12.3% | -3.0% | ||
| Q3 24 | -24.0% | -39.6% | ||
| Q2 24 | -14.7% | -22.1% | ||
| Q1 24 | -36.0% | 2.1% |
净利率APLSSLND
| Q4 25 | -29.5% | -208.2% | ||
| Q3 25 | 47.0% | -35.3% | ||
| Q2 25 | -23.6% | -4.8% | ||
| Q1 25 | -55.3% | -1.9% | ||
| Q4 24 | -17.1% | -1.6% | ||
| Q3 24 | -29.2% | -31.6% | ||
| Q2 24 | -18.9% | -18.3% | ||
| Q1 24 | -38.5% | -0.1% |
每股收益（稀释后）APLSSLND
| Q4 25 | $-0.40 | $-4.01 | ||
| Q3 25 | $1.67 | $-1.39 | ||
| Q2 25 | $-0.33 | $-0.19 | ||
| Q1 25 | $-0.74 | $-0.08 | ||
| Q4 24 | $-0.30 | $-0.08 | ||
| Q3 24 | $-0.46 | $-1.14 | ||
| Q2 24 | $-0.30 | $-0.96 | ||
| 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 | $52.7M |
| 总债务越低越好 | — | $257.7M |
| 股东权益账面价值 | $370.1M | $-140.9M |
| 总资产 | $1.1B | $989.3M |
| 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APLSSLND
| Q4 25 | $466.2M | $52.7M | ||
| Q3 25 | $479.2M | $40.5M | ||
| Q2 25 | $370.0M | $46.5M | ||
| Q1 25 | $358.4M | $65.1M | ||
| Q4 24 | $411.3M | $72.2M | ||
| Q3 24 | $396.9M | $91.4M | ||
| Q2 24 | $360.1M | $52.4M | ||
| Q1 24 | $325.9M | $31.2M |
总债务APLSSLND
| Q4 25 | — | $257.7M | ||
| Q3 25 | — | $267.8M | ||
| Q2 25 | — | $278.6M | ||
| Q1 25 | — | $288.1M | ||
| Q4 24 | — | $300.1M | ||
| Q3 24 | — | $318.3M | ||
| Q2 24 | — | $307.8M | ||
| Q1 24 | $93.1M | $302.0M |
股东权益APLSSLND
| Q4 25 | $370.1M | $-140.9M | ||
| Q3 25 | $401.2M | $75.0M | ||
| Q2 25 | $156.3M | $151.1M | ||
| Q1 25 | $164.2M | $159.1M | ||
| Q4 24 | $228.5M | $163.7M | ||
| Q3 24 | $237.1M | $149.1M | ||
| Q2 24 | $264.3M | $203.3M | ||
| Q1 24 | $266.7M | $249.3M |
总资产APLSSLND
| Q4 25 | $1.1B | $989.3M | ||
| Q3 25 | $1.1B | $1.1B | ||
| Q2 25 | $821.4M | $1.2B | ||
| Q1 25 | $807.3M | $1.2B | ||
| Q4 24 | $885.1M | $1.2B | ||
| Q3 24 | $901.9M | $1.2B | ||
| Q2 24 | $904.5M | $1.3B | ||
| Q1 24 | $831.9M | $1.2B |
负债/权益比APLSSLND
| Q4 25 | — | — | ||
| Q3 25 | — | 3.57× | ||
| Q2 25 | — | 1.84× | ||
| Q1 25 | — | 1.81× | ||
| Q4 24 | — | 1.83× | ||
| Q3 24 | — | 2.14× | ||
| Q2 24 | — | 1.51× | ||
| Q1 24 | 0.35× | 1.21× |
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 | $9.7M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $9.3M |
| 自由现金流率自由现金流/营收 | -7.1% | 8.9% |
| 资本支出强度资本支出/营收 | 0.1% | 0.4% |
| 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 | $12.7M |
8季度趋势，按日历期对齐
经营现金流APLSSLND
| Q4 25 | $-14.2M | $9.7M | ||
| Q3 25 | $108.5M | $5.9M | ||
| Q2 25 | $4.4M | $-5.4M | ||
| Q1 25 | $-53.4M | $6.4M | ||
| Q4 24 | $19.4M | $-10.3M | ||
| Q3 24 | $34.1M | $-5.3M | ||
| Q2 24 | $-8.3M | $27.4M | ||
| Q1 24 | $-133.0M | $-9.9M |
自由现金流APLSSLND
| Q4 25 | $-14.3M | $9.3M | ||
| Q3 25 | $108.3M | $5.3M | ||
| Q2 25 | $4.4M | $-6.5M | ||
| Q1 25 | $-53.4M | $4.6M | ||
| Q4 24 | $19.3M | $-11.5M | ||
| Q3 24 | — | $-7.3M | ||
| Q2 24 | $-8.4M | $26.3M | ||
| Q1 24 | $-133.3M | $-13.0M |
自由现金流率APLSSLND
| Q4 25 | -7.1% | 8.9% | ||
| Q3 25 | 23.6% | 2.5% | ||
| Q2 25 | 2.5% | -3.0% | ||
| Q1 25 | -32.0% | 1.9% | ||
| Q4 24 | 9.1% | -4.3% | ||
| Q3 24 | — | -4.2% | ||
| Q2 24 | -4.2% | 10.5% | ||
| Q1 24 | -77.3% | -4.5% |
资本支出强度APLSSLND
| Q4 25 | 0.1% | 0.4% | ||
| Q3 25 | 0.0% | 0.3% | ||
| Q2 25 | 0.0% | 0.5% | ||
| Q1 25 | 0.0% | 0.7% | ||
| Q4 24 | 0.0% | 0.5% | ||
| Q3 24 | 0.0% | 1.1% | ||
| Q2 24 | 0.0% | 0.4% | ||
| Q1 24 | 0.2% | 1.1% |
现金转化率APLSSLND
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
SLND
| Civil | $58.4M | 56% |
| Transportation | $45.6M | 44% |
