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Apellis Pharmaceuticals, Inc.（APLS）与美乐棵（SMG）财务数据对比。点击上方公司名可切换其他公司
美乐棵的季度营收约是Apellis Pharmaceuticals, Inc.的7.3倍（$1.5B vs $199.9M），美乐棵净利率更高（16.3% vs -29.5%，领先45.8%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -16.9%），过去两年美乐棵的营收复合增速更高（10.2% 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。
美乐棵公司是一家总部位于俄亥俄州马里斯维尔的美国跨国企业，其前身可追溯至1868年O.M.斯科特开始销售草种的业务。公司主营草坪养护、园艺种植、虫害防治类消费产品以及无土室内园艺设备，旗下拥有Scotts、Miracle-Gro、Ortho等知名品牌，同时在美国及中国等多个国际市场销售和分销除草剂Roundup。
APLS vs SMG — 直观对比
营收规模更大
SMG
是对方的7.3倍
$199.9M
营收增速更快
APLS
高出11.0%
-16.9%
净利率更高
SMG
高出45.8%
-29.5%
两年增速更快
SMG
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $1.5B |
| 净利润 | $-59.0M | $238.6M |
| 毛利率 | — | 41.8% |
| 营业利润率 | -25.6% | 27.5% |
| 净利率 | -29.5% | 16.3% |
| 营收同比 | -5.9% | -16.9% |
| 净利润同比 | -62.2% | 61.2% |
| 每股收益（稀释后） | $-0.40 | $-2.00 |
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APLSSMG
| Q1 26 | — | $1.5B | ||
| Q4 25 | $199.9M | $354.4M | ||
| Q3 25 | $458.6M | $387.3M | ||
| Q2 25 | $178.5M | $1.2B | ||
| Q1 25 | $166.8M | $1.4B | ||
| Q4 24 | $212.5M | $416.8M | ||
| Q3 24 | $196.8M | $414.7M | ||
| Q2 24 | $199.7M | $1.2B |
净利润APLSSMG
| Q1 26 | — | $238.6M | ||
| Q4 25 | $-59.0M | $-125.0M | ||
| Q3 25 | $215.7M | — | ||
| Q2 25 | $-42.2M | $149.1M | ||
| Q1 25 | $-92.2M | $217.5M | ||
| Q4 24 | $-36.4M | $-69.5M | ||
| Q3 24 | $-57.4M | — | ||
| Q2 24 | $-37.7M | $132.1M |
毛利率APLSSMG
| Q1 26 | — | 41.8% | ||
| Q4 25 | — | 25.0% | ||
| Q3 25 | — | 6.1% | ||
| Q2 25 | — | 31.8% | ||
| Q1 25 | — | 38.6% | ||
| Q4 24 | — | 22.7% | ||
| Q3 24 | — | -7.1% | ||
| Q2 24 | — | 29.5% |
营业利润率APLSSMG
| Q1 26 | — | 27.5% | ||
| Q4 25 | -25.6% | -6.2% | ||
| Q3 25 | 48.7% | -38.8% | ||
| Q2 25 | -18.6% | 18.1% | ||
| Q1 25 | -50.0% | 24.3% | ||
| Q4 24 | -12.3% | -12.2% | ||
| Q3 24 | -24.0% | -52.1% | ||
| Q2 24 | -14.7% | 16.6% |
净利率APLSSMG
| Q1 26 | — | 16.3% | ||
| Q4 25 | -29.5% | -35.3% | ||
| Q3 25 | 47.0% | — | ||
| Q2 25 | -23.6% | 12.6% | ||
| Q1 25 | -55.3% | 15.3% | ||
| Q4 24 | -17.1% | -16.7% | ||
| Q3 24 | -29.2% | — | ||
| Q2 24 | -18.9% | 11.0% |
每股收益（稀释后）APLSSMG
| Q1 26 | — | $-2.00 | ||
| Q4 25 | $-0.40 | $-2.16 | ||
| Q3 25 | $1.67 | $-2.58 | ||
| Q2 25 | $-0.33 | $2.54 | ||
| Q1 25 | $-0.74 | $3.72 | ||
| Q4 24 | $-0.30 | $-1.21 | ||
| Q3 24 | $-0.46 | $-4.21 | ||
| Q2 24 | $-0.30 | $2.28 |
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 | $6.2M |
| 总债务越低越好 | — | $2.3B |
| 股东权益账面价值 | $370.1M | — |
| 总资产 | $1.1B | $3.4B |
| 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APLSSMG
| Q1 26 | — | $6.2M | ||
| Q4 25 | $466.2M | $8.3M | ||
| Q3 25 | $479.2M | $36.6M | ||
| Q2 25 | $370.0M | $51.1M | ||
| Q1 25 | $358.4M | $16.9M | ||
| Q4 24 | $411.3M | $9.8M | ||
| Q3 24 | $396.9M | $71.6M | ||
| Q2 24 | $360.1M | $279.9M |
总债务APLSSMG
| Q1 26 | — | $2.3B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $2.1B | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.2B | ||
| Q2 24 | — | — |
股东权益APLSSMG
| Q1 26 | — | — | ||
| Q4 25 | $370.1M | $-500.6M | ||
| Q3 25 | $401.2M | $-357.5M | ||
| Q2 25 | $156.3M | $-170.9M | ||
| Q1 25 | $164.2M | $-290.1M | ||
| Q4 24 | $228.5M | $-479.5M | ||
| Q3 24 | $237.1M | $-390.6M | ||
| Q2 24 | $264.3M | $-146.2M |
总资产APLSSMG
| Q1 26 | — | $3.4B | ||
| Q4 25 | $1.1B | $3.0B | ||
| Q3 25 | $1.1B | $2.7B | ||
| Q2 25 | $821.4M | $3.1B | ||
| Q1 25 | $807.3M | $3.5B | ||
| Q4 24 | $885.1M | $3.2B | ||
| Q3 24 | $901.9M | $2.9B | ||
| Q2 24 | $904.5M | $3.5B |
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APLSSMG
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $-370.4M | ||
| Q3 25 | $108.5M | $174.1M | ||
| Q2 25 | $4.4M | $454.4M | ||
| Q1 25 | $-53.4M | $188.1M | ||
| Q4 24 | $19.4M | $-445.3M | ||
| Q3 24 | $34.1M | $118.5M | ||
| Q2 24 | $-8.3M | $588.0M |
自由现金流APLSSMG
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | $-390.4M | ||
| Q3 25 | $108.3M | $131.2M | ||
| Q2 25 | $4.4M | $437.5M | ||
| Q1 25 | $-53.4M | $179.8M | ||
| Q4 24 | $19.3M | $-474.6M | ||
| Q3 24 | — | $101.9M | ||
| Q2 24 | $-8.4M | $574.8M |
自由现金流率APLSSMG
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | -110.2% | ||
| Q3 25 | 23.6% | 33.9% | ||
| Q2 25 | 2.5% | 36.8% | ||
| Q1 25 | -32.0% | 12.7% | ||
| Q4 24 | 9.1% | -113.9% | ||
| Q3 24 | — | 24.6% | ||
| Q2 24 | -4.2% | 47.8% |
资本支出强度APLSSMG
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 5.6% | ||
| Q3 25 | 0.0% | 11.1% | ||
| Q2 25 | 0.0% | 1.4% | ||
| Q1 25 | 0.0% | 0.6% | ||
| Q4 24 | 0.0% | 7.0% | ||
| Q3 24 | 0.0% | 4.0% | ||
| Q2 24 | 0.0% | 1.1% |
现金转化率APLSSMG
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | 3.05× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 4.45× |
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% |
SMG
暂无分部数据
