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Apellis Pharmaceuticals, Inc.（APLS）与边疆航空（SNCY）财务数据对比。点击上方公司名可切换其他公司
边疆航空的季度营收约是Apellis Pharmaceuticals, Inc.的1.4倍（$281.0M vs $199.9M），边疆航空净利率更高（2.9% vs -29.5%，领先32.4%），边疆航空同比增速更快（7.9% vs -5.9%），边疆航空自由现金流更多（$34.9M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -5.0%）
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。
边疆航空是美国主流超低成本航空公司，总部位于科罗拉多州丹佛市。该航司运营飞往美国本土、加勒比地区、墨西哥及中美洲共120余个目的地的航线，员工规模超过5000人，目前为公开上市企业，枢纽基地覆盖丹佛国际机场、奥兰多国际机场，以及美国本土和波多黎各的另外11座城市。
APLS vs SNCY — 直观对比
营收规模更大
SNCY
是对方的1.4倍
$199.9M
营收增速更快
SNCY
高出13.8%
-5.9%
净利率更高
SNCY
高出32.4%
-29.5%
自由现金流更多
SNCY
多$49.2M
$-14.3M
两年增速更快
APLS
近两年复合增速
-5.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $281.0M |
| 净利润 | $-59.0M | $8.1M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 6.5% |
| 净利率 | -29.5% | 2.9% |
| 营收同比 | -5.9% | 7.9% |
| 净利润同比 | -62.2% | -39.4% |
| 每股收益（稀释后） | $-0.40 | $0.15 |
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APLSSNCY
| Q4 25 | $199.9M | $281.0M | ||
| Q3 25 | $458.6M | $255.5M | ||
| Q2 25 | $178.5M | $263.6M | ||
| Q1 25 | $166.8M | $326.6M | ||
| Q4 24 | $212.5M | $260.4M | ||
| Q3 24 | $196.8M | $249.5M | ||
| Q2 24 | $199.7M | $254.4M | ||
| Q1 24 | $172.3M | $311.5M |
净利润APLSSNCY
| Q4 25 | $-59.0M | $8.1M | ||
| Q3 25 | $215.7M | $1.6M | ||
| Q2 25 | $-42.2M | $6.6M | ||
| Q1 25 | $-92.2M | $36.5M | ||
| Q4 24 | $-36.4M | $13.4M | ||
| Q3 24 | $-57.4M | $2.3M | ||
| Q2 24 | $-37.7M | $1.8M | ||
| Q1 24 | $-66.4M | $35.3M |
营业利润率APLSSNCY
| Q4 25 | -25.6% | 6.5% | ||
| Q3 25 | 48.7% | 3.9% | ||
| Q2 25 | -18.6% | 6.2% | ||
| Q1 25 | -50.0% | 17.2% | ||
| Q4 24 | -12.3% | 10.0% | ||
| Q3 24 | -24.0% | 5.0% | ||
| Q2 24 | -14.7% | 4.9% | ||
| Q1 24 | -36.0% | 17.7% |
净利率APLSSNCY
| Q4 25 | -29.5% | 2.9% | ||
| Q3 25 | 47.0% | 0.6% | ||
| Q2 25 | -23.6% | 2.5% | ||
| Q1 25 | -55.3% | 11.2% | ||
| Q4 24 | -17.1% | 5.2% | ||
| Q3 24 | -29.2% | 0.9% | ||
| Q2 24 | -18.9% | 0.7% | ||
| Q1 24 | -38.5% | 11.3% |
每股收益（稀释后）APLSSNCY
| Q4 25 | $-0.40 | $0.15 | ||
| Q3 25 | $1.67 | $0.03 | ||
| Q2 25 | $-0.33 | $0.12 | ||
| Q1 25 | $-0.74 | $0.66 | ||
| Q4 24 | $-0.30 | $0.25 | ||
| Q3 24 | $-0.46 | $0.04 | ||
| Q2 24 | $-0.30 | $0.03 | ||
| Q1 24 | $-0.54 | $0.64 |
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 | $234.3M |
| 总债务越低越好 | — | $323.3M |
| 股东权益账面价值 | $370.1M | $625.2M |
| 总资产 | $1.1B | $1.7B |
| 负债/权益比越低杠杆越低 | — | 0.52× |
8季度趋势，按日历期对齐
现金及短期投资APLSSNCY
| Q4 25 | $466.2M | $234.3M | ||
| Q3 25 | $479.2M | $176.2M | ||
| Q2 25 | $370.0M | $138.3M | ||
| Q1 25 | $358.4M | $158.8M | ||
| Q4 24 | $411.3M | $187.3M | ||
| Q3 24 | $396.9M | $146.5M | ||
| Q2 24 | $360.1M | $135.2M | ||
| Q1 24 | $325.9M | $161.2M |
总债务APLSSNCY
| Q4 25 | — | $323.3M | ||
| Q3 25 | — | $301.3M | ||
| Q2 25 | — | $282.1M | ||
| Q1 25 | — | $312.6M | ||
| Q4 24 | — | $327.1M | ||
| Q3 24 | — | $351.8M | ||
| Q2 24 | — | $365.5M | ||
| Q1 24 | $93.1M | $388.1M |
股东权益APLSSNCY
| Q4 25 | $370.1M | $625.2M | ||
| Q3 25 | $401.2M | $610.2M | ||
| Q2 25 | $156.3M | $613.0M | ||
| Q1 25 | $164.2M | $603.0M | ||
| Q4 24 | $228.5M | $570.4M | ||
| Q3 24 | $237.1M | $552.5M | ||
| Q2 24 | $264.3M | $546.9M | ||
| Q1 24 | $266.7M | $541.0M |
总资产APLSSNCY
| Q4 25 | $1.1B | $1.7B | ||
| Q3 25 | $1.1B | $1.6B | ||
| Q2 25 | $821.4M | $1.6B | ||
| Q1 25 | $807.3M | $1.6B | ||
| Q4 24 | $885.1M | $1.6B | ||
| Q3 24 | $901.9M | $1.6B | ||
| Q2 24 | $904.5M | $1.6B | ||
| Q1 24 | $831.9M | $1.6B |
负债/权益比APLSSNCY
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.49× | ||
| Q2 25 | — | 0.46× | ||
| Q1 25 | — | 0.52× | ||
| Q4 24 | — | 0.57× | ||
| Q3 24 | — | 0.64× | ||
| Q2 24 | — | 0.67× | ||
| Q1 24 | 0.35× | 0.72× |
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 | $78.9M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $34.9M |
| 自由现金流率自由现金流/营收 | -7.1% | 12.4% |
| 资本支出强度资本支出/营收 | 0.1% | 15.7% |
| 现金转化率经营现金流/净利润 | — | 9.69× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $84.0M |
8季度趋势，按日历期对齐
经营现金流APLSSNCY
| Q4 25 | $-14.2M | $78.9M | ||
| Q3 25 | $108.5M | $41.9M | ||
| Q2 25 | $4.4M | $19.8M | ||
| Q1 25 | $-53.4M | $16.4M | ||
| Q4 24 | $19.4M | $90.6M | ||
| Q3 24 | $34.1M | $35.4M | ||
| Q2 24 | $-8.3M | $8.2M | ||
| Q1 24 | $-133.0M | $30.7M |
自由现金流APLSSNCY
| Q4 25 | $-14.3M | $34.9M | ||
| Q3 25 | $108.3M | $34.0M | ||
| Q2 25 | $4.4M | $14.0M | ||
| Q1 25 | $-53.4M | $1.0M | ||
| Q4 24 | $19.3M | $85.8M | ||
| Q3 24 | — | $31.0M | ||
| Q2 24 | $-8.4M | $-382.0K | ||
| Q1 24 | $-133.3M | $1.0M |
自由现金流率APLSSNCY
| Q4 25 | -7.1% | 12.4% | ||
| Q3 25 | 23.6% | 13.3% | ||
| Q2 25 | 2.5% | 5.3% | ||
| Q1 25 | -32.0% | 0.3% | ||
| Q4 24 | 9.1% | 33.0% | ||
| Q3 24 | — | 12.4% | ||
| Q2 24 | -4.2% | -0.2% | ||
| Q1 24 | -77.3% | 0.3% |
资本支出强度APLSSNCY
| Q4 25 | 0.1% | 15.7% | ||
| Q3 25 | 0.0% | 3.1% | ||
| Q2 25 | 0.0% | 2.2% | ||
| Q1 25 | 0.0% | 4.7% | ||
| Q4 24 | 0.0% | 1.8% | ||
| Q3 24 | 0.0% | 1.8% | ||
| Q2 24 | 0.0% | 3.4% | ||
| Q1 24 | 0.2% | 9.5% |
现金转化率APLSSNCY
| Q4 25 | — | 9.69× | ||
| Q3 25 | 0.50× | 27.03× | ||
| Q2 25 | — | 3.01× | ||
| Q1 25 | — | 0.45× | ||
| Q4 24 | — | 6.74× | ||
| Q3 24 | — | 15.13× | ||
| Q2 24 | — | 4.50× | ||
| Q1 24 | — | 0.87× |
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% |
SNCY
| Scheduled Service | $95.6M | 34% |
| Ancillary | $69.3M | 25% |
| Charter Service | $56.6M | 20% |
| Cargo And Freight | $48.0M | 17% |
| Service Other | $11.4M | 4% |
