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Apellis Pharmaceuticals, Inc.（APLS）与合众银行（STBA）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是合众银行的2.0倍（$199.9M vs $102.1M），合众银行净利率更高（34.4% vs -29.5%，领先63.8%），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 2.6%）
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。
合众银行是总部位于美国明尼苏达州明尼阿波利斯、注册地为特拉华州的跨国银行机构，截至2025年为美国第五大银行，也是美国中西部规模最大的银行，被金融稳定委员会认定为系统重要性机构。旗下核心运营主体为美国合众银行全国协会，以“U.S. Bank”品牌开展业务，提供银行、投资、抵押贷款等多元金融服务。
APLS vs STBA — 直观对比
营收规模更大
APLS
是对方的2.0倍
$102.1M
净利率更高
STBA
高出63.8%
-29.5%
两年增速更快
APLS
近两年复合增速
2.6%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $102.1M |
| 净利润 | $-59.0M | $35.1M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | — |
| 净利率 | -29.5% | 34.4% |
| 营收同比 | -5.9% | — |
| 净利润同比 | -62.2% | 5.0% |
| 每股收益（稀释后） | $-0.40 | $0.94 |
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APLSSTBA
| Q1 26 | — | $102.1M | ||
| Q4 25 | $199.9M | $105.3M | ||
| Q3 25 | $458.6M | $103.0M | ||
| Q2 25 | $178.5M | $100.1M | ||
| Q1 25 | $166.8M | $93.8M | ||
| Q4 24 | $212.5M | $94.3M | ||
| Q3 24 | $196.8M | $96.4M | ||
| Q2 24 | $199.7M | $96.9M |
净利润APLSSTBA
| Q1 26 | — | $35.1M | ||
| Q4 25 | $-59.0M | $34.0M | ||
| Q3 25 | $215.7M | $35.0M | ||
| Q2 25 | $-42.2M | $31.9M | ||
| Q1 25 | $-92.2M | $33.4M | ||
| Q4 24 | $-36.4M | $33.1M | ||
| Q3 24 | $-57.4M | $32.6M | ||
| Q2 24 | $-37.7M | $34.4M |
营业利润率APLSSTBA
| Q1 26 | — | — | ||
| Q4 25 | -25.6% | 40.3% | ||
| Q3 25 | 48.7% | 42.6% | ||
| Q2 25 | -18.6% | 40.0% | ||
| Q1 25 | -50.0% | 44.5% | ||
| Q4 24 | -12.3% | 43.8% | ||
| Q3 24 | -24.0% | 43.0% | ||
| Q2 24 | -14.7% | 44.2% |
净利率APLSSTBA
| Q1 26 | — | 34.4% | ||
| Q4 25 | -29.5% | 32.3% | ||
| Q3 25 | 47.0% | 33.9% | ||
| Q2 25 | -23.6% | 31.9% | ||
| Q1 25 | -55.3% | 35.6% | ||
| Q4 24 | -17.1% | 35.1% | ||
| Q3 24 | -29.2% | 33.8% | ||
| Q2 24 | -18.9% | 35.5% |
每股收益（稀释后）APLSSTBA
| Q1 26 | — | $0.94 | ||
| Q4 25 | $-0.40 | $0.88 | ||
| Q3 25 | $1.67 | $0.91 | ||
| Q2 25 | $-0.33 | $0.83 | ||
| Q1 25 | $-0.74 | $0.87 | ||
| Q4 24 | $-0.30 | $0.86 | ||
| Q3 24 | $-0.46 | $0.85 | ||
| Q2 24 | $-0.30 | $0.89 |
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 | — | $100.8M |
| 股东权益账面价值 | $370.1M | $1.4B |
| 总资产 | $1.1B | $9.9B |
| 负债/权益比越低杠杆越低 | — | 0.07× |
8季度趋势，按日历期对齐
现金及短期投资APLSSTBA
| Q1 26 | — | — | ||
| Q4 25 | $466.2M | $163.4M | ||
| Q3 25 | $479.2M | $196.2M | ||
| Q2 25 | $370.0M | $203.1M | ||
| Q1 25 | $358.4M | $211.8M | ||
| Q4 24 | $411.3M | $244.8M | ||
| Q3 24 | $396.9M | $228.1M | ||
| Q2 24 | $360.1M | $246.3M |
总债务APLSSTBA
| Q1 26 | — | $100.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
股东权益APLSSTBA
| Q1 26 | — | $1.4B | ||
| Q4 25 | $370.1M | $1.5B | ||
| Q3 25 | $401.2M | $1.5B | ||
| Q2 25 | $156.3M | $1.4B | ||
| Q1 25 | $164.2M | $1.4B | ||
| Q4 24 | $228.5M | $1.4B | ||
| Q3 24 | $237.1M | $1.4B | ||
| Q2 24 | $264.3M | $1.3B |
总资产APLSSTBA
| Q1 26 | — | $9.9B | ||
| Q4 25 | $1.1B | $9.9B | ||
| Q3 25 | $1.1B | $9.8B | ||
| Q2 25 | $821.4M | $9.8B | ||
| Q1 25 | $807.3M | $9.7B | ||
| Q4 24 | $885.1M | $9.7B | ||
| Q3 24 | $901.9M | $9.6B | ||
| Q2 24 | $904.5M | $9.6B |
负债/权益比APLSSTBA
| Q1 26 | — | 0.07× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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APLSSTBA
| Q1 26 | — | — | ||
| Q4 25 | $-14.2M | $133.6M | ||
| Q3 25 | $108.5M | $40.5M | ||
| Q2 25 | $4.4M | $28.3M | ||
| Q1 25 | $-53.4M | $28.7M | ||
| Q4 24 | $19.4M | $173.4M | ||
| Q3 24 | $34.1M | $27.6M | ||
| Q2 24 | $-8.3M | $44.7M |
自由现金流APLSSTBA
| Q1 26 | — | — | ||
| Q4 25 | $-14.3M | $128.8M | ||
| Q3 25 | $108.3M | $39.9M | ||
| Q2 25 | $4.4M | $27.1M | ||
| Q1 25 | $-53.4M | $27.0M | ||
| Q4 24 | $19.3M | $170.4M | ||
| Q3 24 | — | $26.9M | ||
| Q2 24 | $-8.4M | $43.9M |
自由现金流率APLSSTBA
| Q1 26 | — | — | ||
| Q4 25 | -7.1% | 122.4% | ||
| Q3 25 | 23.6% | 38.7% | ||
| Q2 25 | 2.5% | 27.1% | ||
| Q1 25 | -32.0% | 28.8% | ||
| Q4 24 | 9.1% | 180.7% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | -4.2% | 45.3% |
资本支出强度APLSSTBA
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 4.5% | ||
| Q3 25 | 0.0% | 0.6% | ||
| Q2 25 | 0.0% | 1.2% | ||
| Q1 25 | 0.0% | 1.8% | ||
| Q4 24 | 0.0% | 3.1% | ||
| Q3 24 | 0.0% | 0.7% | ||
| Q2 24 | 0.0% | 0.9% |
现金转化率APLSSTBA
| Q1 26 | — | — | ||
| Q4 25 | — | 3.93× | ||
| Q3 25 | 0.50× | 1.16× | ||
| Q2 25 | — | 0.89× | ||
| Q1 25 | — | 0.86× | ||
| Q4 24 | — | 5.24× | ||
| Q3 24 | — | 0.85× | ||
| Q2 24 | — | 1.30× |
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% |
STBA
| Net Interest Income | $88.4M | 87% |
| Noninterest Income | $13.6M | 13% |
