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Apellis Pharmaceuticals, Inc.（APLS）与STRATTEC SECURITY CORP（STRT）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STRATTEC SECURITY CORP的1.5倍（$199.9M vs $137.5M），STRATTEC SECURITY CORP净利率更高（3.6% vs -29.5%，领先33.1%），STRATTEC SECURITY CORP同比增速更快（5.9% vs -5.9%），STRATTEC SECURITY CORP自由现金流更多（$11.3M vs $-14.3M），过去两年STRATTEC SECURITY CORP的营收复合增速更高（7.7% 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。
STRATTEC安全公司是专业的汽车安全访问解决方案供应商，主营汽车机械与电子锁具、钥匙、无钥匙进入系统等产品，主要服务全球汽车整车厂商、重型车辆制造商及汽车后市场客户，业务覆盖北美、欧洲、亚太等地区。
APLS vs STRT — 直观对比
营收规模更大
APLS
是对方的1.5倍
$137.5M
营收增速更快
STRT
高出11.8%
-5.9%
净利率更高
STRT
高出33.1%
-29.5%
自由现金流更多
STRT
多$25.5M
$-14.3M
两年增速更快
STRT
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $137.5M |
| 净利润 | $-59.0M | $4.9M |
| 毛利率 | — | 16.5% |
| 营业利润率 | -25.6% | 3.5% |
| 净利率 | -29.5% | 3.6% |
| 营收同比 | -5.9% | 5.9% |
| 净利润同比 | -62.2% | 275.1% |
| 每股收益（稀释后） | $-0.40 | $1.20 |
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APLSSTRT
| Q4 25 | $199.9M | $137.5M | ||
| Q3 25 | $458.6M | $152.4M | ||
| Q2 25 | $178.5M | $152.0M | ||
| Q1 25 | $166.8M | $144.1M | ||
| Q4 24 | $212.5M | $129.9M | ||
| Q3 24 | $196.8M | $139.1M | ||
| Q2 24 | $199.7M | — | ||
| Q1 24 | $172.3M | $140.8M |
净利润APLSSTRT
| Q4 25 | $-59.0M | $4.9M | ||
| Q3 25 | $215.7M | $8.5M | ||
| Q2 25 | $-42.2M | $8.3M | ||
| Q1 25 | $-92.2M | $5.4M | ||
| Q4 24 | $-36.4M | $1.3M | ||
| Q3 24 | $-57.4M | $3.7M | ||
| Q2 24 | $-37.7M | — | ||
| Q1 24 | $-66.4M | $1.5M |
毛利率APLSSTRT
| Q4 25 | — | 16.5% | ||
| Q3 25 | — | 17.3% | ||
| Q2 25 | — | 16.7% | ||
| Q1 25 | — | 16.0% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | — | 13.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 10.4% |
营业利润率APLSSTRT
| Q4 25 | -25.6% | 3.5% | ||
| Q3 25 | 48.7% | 6.9% | ||
| Q2 25 | -18.6% | 5.6% | ||
| Q1 25 | -50.0% | 4.9% | ||
| Q4 24 | -12.3% | 1.6% | ||
| Q3 24 | -24.0% | 3.6% | ||
| Q2 24 | -14.7% | — | ||
| Q1 24 | -36.0% | 1.4% |
净利率APLSSTRT
| Q4 25 | -29.5% | 3.6% | ||
| Q3 25 | 47.0% | 5.6% | ||
| Q2 25 | -23.6% | 5.4% | ||
| Q1 25 | -55.3% | 3.7% | ||
| Q4 24 | -17.1% | 1.0% | ||
| Q3 24 | -29.2% | 2.7% | ||
| Q2 24 | -18.9% | — | ||
| Q1 24 | -38.5% | 1.1% |
每股收益（稀释后）APLSSTRT
| Q4 25 | $-0.40 | $1.20 | ||
| Q3 25 | $1.67 | $2.07 | ||
| Q2 25 | $-0.33 | $2.02 | ||
| Q1 25 | $-0.74 | $1.32 | ||
| Q4 24 | $-0.30 | $0.32 | ||
| Q3 24 | $-0.46 | $0.92 | ||
| Q2 24 | $-0.30 | — | ||
| Q1 24 | $-0.54 | $0.37 |
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 | $99.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $236.8M |
| 总资产 | $1.1B | $392.2M |
| 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APLSSTRT
| Q4 25 | $466.2M | $99.0M | ||
| Q3 25 | $479.2M | $90.5M | ||
| Q2 25 | $370.0M | $84.6M | ||
| Q1 25 | $358.4M | $62.1M | ||
| Q4 24 | $411.3M | $42.6M | ||
| Q3 24 | $396.9M | $34.4M | ||
| Q2 24 | $360.1M | — | ||
| Q1 24 | $325.9M | $9.6M |
总债务APLSSTRT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSSTRT
| Q4 25 | $370.1M | $236.8M | ||
| Q3 25 | $401.2M | $230.5M | ||
| Q2 25 | $156.3M | $221.6M | ||
| Q1 25 | $164.2M | $210.7M | ||
| Q4 24 | $228.5M | $204.5M | ||
| Q3 24 | $237.1M | $203.0M | ||
| Q2 24 | $264.3M | — | ||
| Q1 24 | $266.7M | $193.8M |
总资产APLSSTRT
| Q4 25 | $1.1B | $392.2M | ||
| Q3 25 | $1.1B | $390.1M | ||
| Q2 25 | $821.4M | $391.5M | ||
| Q1 25 | $807.3M | $387.4M | ||
| Q4 24 | $885.1M | $355.9M | ||
| Q3 24 | $901.9M | $366.9M | ||
| Q2 24 | $904.5M | — | ||
| Q1 24 | $831.9M | $348.5M |
负债/权益比APLSSTRT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.35× | — |
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 | $13.9M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $11.3M |
| 自由现金流率自由现金流/营收 | -7.1% | 8.2% |
| 资本支出强度资本支出/营收 | 0.1% | 1.9% |
| 现金转化率经营现金流/净利润 | — | 2.81× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $67.8M |
8季度趋势，按日历期对齐
经营现金流APLSSTRT
| Q4 25 | $-14.2M | $13.9M | ||
| Q3 25 | $108.5M | $11.3M | ||
| Q2 25 | $4.4M | $30.2M | ||
| Q1 25 | $-53.4M | $20.7M | ||
| Q4 24 | $19.4M | $9.4M | ||
| Q3 24 | $34.1M | $11.3M | ||
| Q2 24 | $-8.3M | — | ||
| Q1 24 | $-133.0M | $-309.0K |
自由现金流APLSSTRT
| Q4 25 | $-14.3M | $11.3M | ||
| Q3 25 | $108.3M | $9.8M | ||
| Q2 25 | $4.4M | $27.2M | ||
| Q1 25 | $-53.4M | $19.6M | ||
| Q4 24 | $19.3M | $8.5M | ||
| Q3 24 | — | $9.3M | ||
| Q2 24 | $-8.4M | — | ||
| Q1 24 | $-133.3M | $-2.0M |
自由现金流率APLSSTRT
| Q4 25 | -7.1% | 8.2% | ||
| Q3 25 | 23.6% | 6.4% | ||
| Q2 25 | 2.5% | 17.9% | ||
| Q1 25 | -32.0% | 13.6% | ||
| Q4 24 | 9.1% | 6.6% | ||
| Q3 24 | — | 6.7% | ||
| Q2 24 | -4.2% | — | ||
| Q1 24 | -77.3% | -1.4% |
资本支出强度APLSSTRT
| Q4 25 | 0.1% | 1.9% | ||
| Q3 25 | 0.0% | 1.0% | ||
| Q2 25 | 0.0% | 2.0% | ||
| Q1 25 | 0.0% | 0.8% | ||
| Q4 24 | 0.0% | 0.7% | ||
| Q3 24 | 0.0% | 1.5% | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.2% | 1.2% |
现金转化率APLSSTRT
| Q4 25 | — | 2.81× | ||
| Q3 25 | 0.50× | 1.33× | ||
| Q2 25 | — | 3.65× | ||
| Q1 25 | — | 3.84× | ||
| Q4 24 | — | 7.16× | ||
| Q3 24 | — | 3.06× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.21× |
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% |
STRT
| Door Handles And Exterior Trim | $35.0M | 25% |
| Power Access Solutions | $34.5M | 25% |
| Keys And Locksets | $26.8M | 19% |
| Latches | $16.3M | 12% |
| User Interface Controls | $12.5M | 9% |
| Aftermarket And Service | $9.4M | 7% |
| Other Product | $3.1M | 2% |
| Related Party | $1.3M | 1% |
