vs
Apellis Pharmaceuticals, Inc.（APLS）与医疗房产信托（SVC）财务数据对比。点击上方公司名可切换其他公司
医疗房产信托的季度营收约是Apellis Pharmaceuticals, Inc.的1.5倍（$296.5M vs $199.9M），医疗房产信托净利率更高（-0.3% vs -29.5%，领先29.2%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -17.0%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-95.2M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -6.1%）
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。
医疗房产信托（MPT）是总部位于阿拉巴马州伯明翰的国际房地产投资信托（REIT），主要在美国和欧洲地区收购投资医疗设施与营利性医疗控股公司。该公司的房产收购多采用售后回租模式，原产权方出售房产给MPT后成为承租租户，其租户普遍签订长期三净租约。
APLS vs SVC — 直观对比
营收规模更大
SVC
是对方的1.5倍
$199.9M
营收增速更快
APLS
高出11.0%
-17.0%
净利率更高
SVC
高出29.2%
-29.5%
自由现金流更多
APLS
多$80.9M
$-95.2M
两年增速更快
APLS
近两年复合增速
-6.1%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $296.5M |
| 净利润 | $-59.0M | $-782.0K |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | -3.9% |
| 净利率 | -29.5% | -0.3% |
| 营收同比 | -5.9% | -17.0% |
| 净利润同比 | -62.2% | 99.0% |
| 每股收益（稀释后） | $-0.40 | $-0.01 |
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APLSSVC
| Q4 25 | $199.9M | $296.5M | ||
| Q3 25 | $458.6M | $377.6M | ||
| Q2 25 | $178.5M | $404.4M | ||
| Q1 25 | $166.8M | $335.0M | ||
| Q4 24 | $212.5M | $357.0M | ||
| Q3 24 | $196.8M | $390.9M | ||
| Q2 24 | $199.7M | $412.5M | ||
| Q1 24 | $172.3M | $336.2M |
净利润APLSSVC
| Q4 25 | $-59.0M | $-782.0K | ||
| Q3 25 | $215.7M | $-46.9M | ||
| Q2 25 | $-42.2M | $-38.2M | ||
| Q1 25 | $-92.2M | $-116.4M | ||
| Q4 24 | $-36.4M | $-76.4M | ||
| Q3 24 | $-57.4M | $-46.9M | ||
| Q2 24 | $-37.7M | $-73.8M | ||
| Q1 24 | $-66.4M | $-78.4M |
营业利润率APLSSVC
| Q4 25 | -25.6% | -3.9% | ||
| Q3 25 | 48.7% | -12.8% | ||
| Q2 25 | -18.6% | -9.2% | ||
| Q1 25 | -50.0% | -33.3% | ||
| Q4 24 | -12.3% | -19.4% | ||
| Q3 24 | -24.0% | -12.8% | ||
| Q2 24 | -14.7% | -17.1% | ||
| Q1 24 | -36.0% | -21.4% |
净利率APLSSVC
| Q4 25 | -29.5% | -0.3% | ||
| Q3 25 | 47.0% | -12.4% | ||
| Q2 25 | -23.6% | -9.4% | ||
| Q1 25 | -55.3% | -34.8% | ||
| Q4 24 | -17.1% | -21.4% | ||
| Q3 24 | -29.2% | -12.0% | ||
| Q2 24 | -18.9% | -17.9% | ||
| Q1 24 | -38.5% | -23.3% |
每股收益（稀释后）APLSSVC
| Q4 25 | $-0.40 | $-0.01 | ||
| Q3 25 | $1.67 | $-0.28 | ||
| Q2 25 | $-0.33 | $-0.23 | ||
| Q1 25 | $-0.74 | $-0.70 | ||
| Q4 24 | $-0.30 | $-0.46 | ||
| Q3 24 | $-0.46 | $-0.28 | ||
| Q2 24 | $-0.30 | $-0.45 | ||
| Q1 24 | $-0.54 | $-0.48 |
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 | $346.8M |
| 总债务越低越好 | — | $5.5B |
| 股东权益账面价值 | $370.1M | $646.1M |
| 总资产 | $1.1B | $6.5B |
| 负债/权益比越低杠杆越低 | — | 8.52× |
8季度趋势，按日历期对齐
现金及短期投资APLSSVC
| Q4 25 | $466.2M | $346.8M | ||
| Q3 25 | $479.2M | $417.4M | ||
| Q2 25 | $370.0M | $63.2M | ||
| Q1 25 | $358.4M | $80.1M | ||
| Q4 24 | $411.3M | $143.5M | ||
| Q3 24 | $396.9M | $48.6M | ||
| Q2 24 | $360.1M | $14.6M | ||
| Q1 24 | $325.9M | $71.3M |
总债务APLSSVC
| Q4 25 | — | $5.5B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $5.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSSVC
| Q4 25 | $370.1M | $646.1M | ||
| Q3 25 | $401.2M | $647.9M | ||
| Q2 25 | $156.3M | $695.9M | ||
| Q1 25 | $164.2M | $734.6M | ||
| Q4 24 | $228.5M | $851.9M | ||
| Q3 24 | $237.1M | $929.0M | ||
| Q2 24 | $264.3M | $1.0B | ||
| Q1 24 | $266.7M | $1.1B |
总资产APLSSVC
| Q4 25 | $1.1B | $6.5B | ||
| Q3 25 | $1.1B | $7.0B | ||
| Q2 25 | $821.4M | $6.9B | ||
| Q1 25 | $807.3M | $7.0B | ||
| Q4 24 | $885.1M | $7.1B | ||
| Q3 24 | $901.9M | $7.1B | ||
| Q2 24 | $904.5M | $7.1B | ||
| Q1 24 | $831.9M | $7.2B |
负债/权益比APLSSVC
| Q4 25 | — | 8.52× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.85× | ||
| 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 | $-18.5M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-95.2M |
| 自由现金流率自由现金流/营收 | -7.1% | -32.1% |
| 资本支出强度资本支出/营收 | 0.1% | 25.9% |
| 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 | $-107.0M |
8季度趋势，按日历期对齐
经营现金流APLSSVC
| Q4 25 | $-14.2M | $-18.5M | ||
| Q3 25 | $108.5M | $98.1M | ||
| Q2 25 | $4.4M | $-7.0K | ||
| Q1 25 | $-53.4M | $38.2M | ||
| Q4 24 | $19.4M | $-9.7M | ||
| Q3 24 | $34.1M | $106.2M | ||
| Q2 24 | $-8.3M | $43.8M | ||
| Q1 24 | $-133.0M | $-926.0K |
自由现金流APLSSVC
| Q4 25 | $-14.3M | $-95.2M | ||
| Q3 25 | $108.3M | $57.9M | ||
| Q2 25 | $4.4M | $-46.6M | ||
| Q1 25 | $-53.4M | $-23.2M | ||
| Q4 24 | $19.3M | $-88.9M | ||
| Q3 24 | — | $24.1M | ||
| Q2 24 | $-8.4M | $-22.3M | ||
| Q1 24 | $-133.3M | $-77.2M |
自由现金流率APLSSVC
| Q4 25 | -7.1% | -32.1% | ||
| Q3 25 | 23.6% | 15.3% | ||
| Q2 25 | 2.5% | -11.5% | ||
| Q1 25 | -32.0% | -6.9% | ||
| Q4 24 | 9.1% | -24.9% | ||
| Q3 24 | — | 6.2% | ||
| Q2 24 | -4.2% | -5.4% | ||
| Q1 24 | -77.3% | -23.0% |
资本支出强度APLSSVC
| Q4 25 | 0.1% | 25.9% | ||
| Q3 25 | 0.0% | 10.6% | ||
| Q2 25 | 0.0% | 11.5% | ||
| Q1 25 | 0.0% | 18.3% | ||
| Q4 24 | 0.0% | 22.2% | ||
| Q3 24 | 0.0% | 21.0% | ||
| Q2 24 | 0.0% | 16.0% | ||
| Q1 24 | 0.2% | 22.7% |
现金转化率APLSSVC
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| 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% |
SVC
暂无分部数据
