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Apellis Pharmaceuticals, Inc.（APLS）与Sphere Entertainment Co.（SPHR）财务数据对比。点击上方公司名可切换其他公司
Sphere Entertainment Co.的季度营收约是Apellis Pharmaceuticals, Inc.的2.0倍（$393.8M vs $199.9M），Sphere Entertainment Co.净利率更高（16.4% vs -29.5%，领先45.9%），过去两年Sphere Entertainment Co.的营收复合增速更高（12.1% 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。
Sphere Entertainment Co.是总部位于纽约的美国娱乐控股企业，由查尔斯·多兰家族掌控，旗下拥有位于内华达州拉斯维加斯谷帕拉代斯的Sphere演艺场馆，以及总部位于纽约的区域体育网络连锁品牌MSG Networks。
APLS vs SPHR — 直观对比
营收规模更大
SPHR
是对方的2.0倍
$199.9M
净利率更高
SPHR
高出45.9%
-29.5%
两年增速更快
SPHR
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $393.8M |
| 净利润 | $-59.0M | $64.7M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 7.3% |
| 净利率 | -29.5% | 16.4% |
| 营收同比 | -5.9% | — |
| 净利润同比 | -62.2% | — |
| 每股收益（稀释后） | $-0.40 | $2.42 |
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APLSSPHR
| Q4 25 | $199.9M | $393.8M | ||
| Q3 25 | $458.6M | $262.1M | ||
| Q2 25 | $178.5M | $282.2M | ||
| Q1 25 | $166.8M | $280.1M | ||
| Q4 24 | $212.5M | — | ||
| Q3 24 | $196.8M | $227.1M | ||
| Q2 24 | $199.7M | $272.6M | ||
| Q1 24 | $172.3M | $320.6M |
净利润APLSSPHR
| Q4 25 | $-59.0M | $64.7M | ||
| Q3 25 | $215.7M | $-101.2M | ||
| Q2 25 | $-42.2M | $151.8M | ||
| Q1 25 | $-92.2M | $-82.0M | ||
| Q4 24 | $-36.4M | — | ||
| Q3 24 | $-57.4M | $-105.3M | ||
| Q2 24 | $-37.7M | $-46.6M | ||
| Q1 24 | $-66.4M | $-47.2M |
营业利润率APLSSPHR
| Q4 25 | -25.6% | 7.3% | ||
| Q3 25 | 48.7% | -49.5% | ||
| Q2 25 | -18.6% | -17.8% | ||
| Q1 25 | -50.0% | -28.1% | ||
| Q4 24 | -12.3% | — | ||
| Q3 24 | -24.0% | -51.8% | ||
| Q2 24 | -14.7% | -66.3% | ||
| Q1 24 | -36.0% | -12.6% |
净利率APLSSPHR
| Q4 25 | -29.5% | 16.4% | ||
| Q3 25 | 47.0% | -38.6% | ||
| Q2 25 | -23.6% | 53.8% | ||
| Q1 25 | -55.3% | -29.3% | ||
| Q4 24 | -17.1% | — | ||
| Q3 24 | -29.2% | -46.4% | ||
| Q2 24 | -18.9% | -17.1% | ||
| Q1 24 | -38.5% | -14.7% |
每股收益（稀释后）APLSSPHR
| Q4 25 | $-0.40 | $2.42 | ||
| Q3 25 | $1.67 | $-2.80 | ||
| Q2 25 | $-0.33 | $3.39 | ||
| Q1 25 | $-0.74 | $-2.27 | ||
| Q4 24 | $-0.30 | — | ||
| Q3 24 | $-0.46 | $-2.95 | ||
| Q2 24 | $-0.30 | $-1.33 | ||
| Q1 24 | $-0.54 | $-1.33 |
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 | — |
| 总债务越低越好 | — | $692.7M |
| 股东权益账面价值 | $370.1M | $2.2B |
| 总资产 | $1.1B | $4.2B |
| 负债/权益比越低杠杆越低 | — | 0.31× |
8季度趋势，按日历期对齐
现金及短期投资APLSSPHR
| Q4 25 | $466.2M | — | ||
| Q3 25 | $479.2M | $384.8M | ||
| Q2 25 | $370.0M | $355.7M | ||
| Q1 25 | $358.4M | $465.0M | ||
| Q4 24 | $411.3M | — | ||
| Q3 24 | $396.9M | — | ||
| Q2 24 | $360.1M | $559.8M | ||
| Q1 24 | $325.9M | — |
总债务APLSSPHR
| Q4 25 | — | $692.7M | ||
| Q3 25 | — | $733.8M | ||
| Q2 25 | — | $743.8M | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | $93.1M | $1.4B |
股东权益APLSSPHR
| Q4 25 | $370.1M | $2.2B | ||
| Q3 25 | $401.2M | $2.2B | ||
| Q2 25 | $156.3M | $2.3B | ||
| Q1 25 | $164.2M | $2.1B | ||
| Q4 24 | $228.5M | — | ||
| Q3 24 | $237.1M | $2.3B | ||
| Q2 24 | $264.3M | $2.4B | ||
| Q1 24 | $266.7M | $2.4B |
总资产APLSSPHR
| Q4 25 | $1.1B | $4.2B | ||
| Q3 25 | $1.1B | $4.1B | ||
| Q2 25 | $821.4M | $4.2B | ||
| Q1 25 | $807.3M | $4.4B | ||
| Q4 24 | $885.1M | — | ||
| Q3 24 | $901.9M | $4.6B | ||
| Q2 24 | $904.5M | — | ||
| Q1 24 | $831.9M | $4.9B |
负债/权益比APLSSPHR
| Q4 25 | — | 0.31× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | 0.32× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.59× | ||
| Q2 24 | — | 0.57× | ||
| Q1 24 | 0.35× | 0.57× |
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 | $180.2M |
| 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 | — | 2.78× |
| 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APLSSPHR
| Q4 25 | $-14.2M | $180.2M | ||
| Q3 25 | $108.5M | $115.8M | ||
| Q2 25 | $4.4M | $-59.1M | ||
| Q1 25 | $-53.4M | $6.3M | ||
| Q4 24 | $19.4M | — | ||
| Q3 24 | $34.1M | $34.1M | ||
| Q2 24 | $-8.3M | $-72.4M | ||
| Q1 24 | $-133.0M | $101.0M |
自由现金流APLSSPHR
| 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 | — | ||
| Q1 24 | $-133.3M | — |
自由现金流率APLSSPHR
| 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% | — | ||
| Q1 24 | -77.3% | — |
资本支出强度APLSSPHR
| 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% | — | ||
| Q1 24 | 0.2% | — |
现金转化率APLSSPHR
| Q4 25 | — | 2.78× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | -0.39× | ||
| 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% |
SPHR
| Ticketing And Venue License Fee Revenues | $198.5M | 50% |
| Media Networks Revenue | $120.1M | 30% |
| Sponsorship Signage Exosphere Advertising And Suite Licenses | $32.2M | 8% |
| Food Beverage And Merchandise Revenues | $27.6M | 7% |
| Other | $13.2M | 3% |
| Related Party | $2.3M | 1% |
