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Apellis Pharmaceuticals, Inc.（APLS）与Gentherm Inc（THRM）财务数据对比。点击上方公司名可切换其他公司
Gentherm Inc的季度营收约是Apellis Pharmaceuticals, Inc.的1.9倍（$382.8M vs $199.9M），Gentherm Inc净利率更高（0.8% vs -29.5%，领先30.3%），Gentherm Inc同比增速更快（8.5% vs -5.9%），Gentherm Inc自由现金流更多（$6.7M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 3.7%）
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。
金瑟公司（原阿梅里贡）是一家美国热管理技术企业，为汽车行业研发出了全球首款热电调温座椅系统——气候控制座椅系统。该系统于1999年率先被福特汽车采纳，作为选装配置搭载在2000款林肯领航员上，如今已应用于福特、通用、丰田（雷克萨斯）、起亚、现代、日产（英菲尼迪）等车企的50余款车型。
APLS vs THRM — 直观对比
营收规模更大
THRM
是对方的1.9倍
$199.9M
营收增速更快
THRM
高出14.4%
-5.9%
净利率更高
THRM
高出30.3%
-29.5%
自由现金流更多
THRM
多$21.0M
$-14.3M
两年增速更快
APLS
近两年复合增速
3.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $382.8M |
| 净利润 | $-59.0M | $3.0M |
| 毛利率 | — | 23.7% |
| 营业利润率 | -25.6% | 4.6% |
| 净利率 | -29.5% | 0.8% |
| 营收同比 | -5.9% | 8.5% |
| 净利润同比 | -62.2% | -80.5% |
| 每股收益（稀释后） | $-0.40 | $0.08 |
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APLSTHRM
| Q4 25 | $199.9M | $382.8M | ||
| Q3 25 | $458.6M | $386.9M | ||
| Q2 25 | $178.5M | $375.1M | ||
| Q1 25 | $166.8M | $353.9M | ||
| Q4 24 | $212.5M | $352.9M | ||
| Q3 24 | $196.8M | $371.5M | ||
| Q2 24 | $199.7M | $375.7M | ||
| Q1 24 | $172.3M | $356.0M |
净利润APLSTHRM
| Q4 25 | $-59.0M | $3.0M | ||
| Q3 25 | $215.7M | $14.9M | ||
| Q2 25 | $-42.2M | $477.0K | ||
| Q1 25 | $-92.2M | $-128.0K | ||
| Q4 24 | $-36.4M | $15.3M | ||
| Q3 24 | $-57.4M | $16.0M | ||
| Q2 24 | $-37.7M | $18.9M | ||
| Q1 24 | $-66.4M | $14.8M |
毛利率APLSTHRM
| Q4 25 | — | 23.7% | ||
| Q3 25 | — | 24.6% | ||
| Q2 25 | — | 23.9% | ||
| Q1 25 | — | 24.4% | ||
| Q4 24 | — | 24.4% | ||
| Q3 24 | — | 25.5% | ||
| Q2 24 | — | 25.7% | ||
| Q1 24 | — | 24.9% |
营业利润率APLSTHRM
| Q4 25 | -25.6% | 4.6% | ||
| Q3 25 | 48.7% | 6.2% | ||
| Q2 25 | -18.6% | 6.4% | ||
| Q1 25 | -50.0% | 4.8% | ||
| Q4 24 | -12.3% | 6.7% | ||
| Q3 24 | -24.0% | 8.7% | ||
| Q2 24 | -14.7% | 8.8% | ||
| Q1 24 | -36.0% | 5.1% |
净利率APLSTHRM
| Q4 25 | -29.5% | 0.8% | ||
| Q3 25 | 47.0% | 3.9% | ||
| Q2 25 | -23.6% | 0.1% | ||
| Q1 25 | -55.3% | -0.0% | ||
| Q4 24 | -17.1% | 4.3% | ||
| Q3 24 | -29.2% | 4.3% | ||
| Q2 24 | -18.9% | 5.0% | ||
| Q1 24 | -38.5% | 4.2% |
每股收益（稀释后）APLSTHRM
| Q4 25 | $-0.40 | $0.08 | ||
| Q3 25 | $1.67 | $0.49 | ||
| Q2 25 | $-0.33 | $0.02 | ||
| Q1 25 | $-0.74 | $0.00 | ||
| Q4 24 | $-0.30 | $0.48 | ||
| Q3 24 | $-0.46 | $0.51 | ||
| Q2 24 | $-0.30 | $0.60 | ||
| Q1 24 | $-0.54 | $0.47 |
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 | $160.8M |
| 总债务越低越好 | — | $189.0M |
| 股东权益账面价值 | $370.1M | $720.3M |
| 总资产 | $1.1B | $1.4B |
| 负债/权益比越低杠杆越低 | — | 0.26× |
8季度趋势，按日历期对齐
现金及短期投资APLSTHRM
| Q4 25 | $466.2M | $160.8M | ||
| Q3 25 | $479.2M | $154.3M | ||
| Q2 25 | $370.0M | $128.3M | ||
| Q1 25 | $358.4M | $163.1M | ||
| Q4 24 | $411.3M | $134.1M | ||
| Q3 24 | $396.9M | $150.6M | ||
| Q2 24 | $360.1M | $123.5M | ||
| Q1 24 | $325.9M | $125.1M |
总债务APLSTHRM
| Q4 25 | — | $189.0M | ||
| Q3 25 | — | $189.0M | ||
| Q2 25 | — | $209.0M | ||
| Q1 25 | — | $262.0M | ||
| Q4 24 | — | $220.1M | ||
| Q3 24 | — | $222.1M | ||
| Q2 24 | — | $222.1M | ||
| Q1 24 | $93.1M | $222.2M |
股东权益APLSTHRM
| Q4 25 | $370.1M | $720.3M | ||
| Q3 25 | $401.2M | $717.9M | ||
| Q2 25 | $156.3M | $699.7M | ||
| Q1 25 | $164.2M | $646.5M | ||
| Q4 24 | $228.5M | $616.9M | ||
| Q3 24 | $237.1M | $660.7M | ||
| Q2 24 | $264.3M | $640.3M | ||
| Q1 24 | $266.7M | $647.1M |
总资产APLSTHRM
| Q4 25 | $1.1B | $1.4B | ||
| Q3 25 | $1.1B | $1.4B | ||
| Q2 25 | $821.4M | $1.4B | ||
| Q1 25 | $807.3M | $1.3B | ||
| Q4 24 | $885.1M | $1.2B | ||
| Q3 24 | $901.9M | $1.3B | ||
| Q2 24 | $904.5M | $1.2B | ||
| Q1 24 | $831.9M | $1.3B |
负债/权益比APLSTHRM
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.26× | ||
| Q2 25 | — | 0.30× | ||
| Q1 25 | — | 0.41× | ||
| Q4 24 | — | 0.36× | ||
| Q3 24 | — | 0.34× | ||
| Q2 24 | — | 0.35× | ||
| Q1 24 | 0.35× | 0.34× |
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 | $29.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $6.7M |
| 自由现金流率自由现金流/营收 | -7.1% | 1.7% |
| 资本支出强度资本支出/营收 | 0.1% | 5.8% |
| 现金转化率经营现金流/净利润 | — | 9.70× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $61.1M |
8季度趋势，按日历期对齐
经营现金流APLSTHRM
| Q4 25 | $-14.2M | $29.0M | ||
| Q3 25 | $108.5M | $56.1M | ||
| Q2 25 | $4.4M | $45.0M | ||
| Q1 25 | $-53.4M | $-13.3M | ||
| Q4 24 | $19.4M | $36.6M | ||
| Q3 24 | $34.1M | $46.3M | ||
| Q2 24 | $-8.3M | $37.1M | ||
| Q1 24 | $-133.0M | $-10.3M |
自由现金流APLSTHRM
| Q4 25 | $-14.3M | $6.7M | ||
| Q3 25 | $108.3M | $46.5M | ||
| Q2 25 | $4.4M | $36.2M | ||
| Q1 25 | $-53.4M | $-28.2M | ||
| Q4 24 | $19.3M | $13.6M | ||
| Q3 24 | — | $26.6M | ||
| Q2 24 | $-8.4M | $17.8M | ||
| Q1 24 | $-133.3M | $-21.6M |
自由现金流率APLSTHRM
| Q4 25 | -7.1% | 1.7% | ||
| Q3 25 | 23.6% | 12.0% | ||
| Q2 25 | 2.5% | 9.6% | ||
| Q1 25 | -32.0% | -8.0% | ||
| Q4 24 | 9.1% | 3.9% | ||
| Q3 24 | — | 7.2% | ||
| Q2 24 | -4.2% | 4.7% | ||
| Q1 24 | -77.3% | -6.1% |
资本支出强度APLSTHRM
| Q4 25 | 0.1% | 5.8% | ||
| Q3 25 | 0.0% | 2.5% | ||
| Q2 25 | 0.0% | 2.4% | ||
| Q1 25 | 0.0% | 4.2% | ||
| Q4 24 | 0.0% | 6.5% | ||
| Q3 24 | 0.0% | 5.3% | ||
| Q2 24 | 0.0% | 5.2% | ||
| Q1 24 | 0.2% | 3.2% |
现金转化率APLSTHRM
| Q4 25 | — | 9.70× | ||
| Q3 25 | 0.50× | 3.75× | ||
| Q2 25 | — | 94.43× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.39× | ||
| Q3 24 | — | 2.90× | ||
| Q2 24 | — | 1.97× | ||
| Q1 24 | — | -0.70× |
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% |
THRM
| Climate Control Seats | $200.9M | 52% |
| Lumbar And Massage Comfort Solutions | $58.5M | 15% |
| Climate Control Interiors | $50.3M | 13% |
| Other Automotive | $27.6M | 7% |
| Valve Systems | $24.1M | 6% |
| Medical Segments | $13.9M | 4% |
| Climate And Comfort Electronics | $7.4M | 2% |
