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Apellis Pharmaceuticals, Inc.（APLS）与Vital Farms, Inc.（VITL）财务数据对比。点击上方公司名可切换其他公司
Vital Farms, Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.1倍（$213.6M vs $199.9M），Vital Farms, Inc.净利率更高（7.6% vs -29.5%，领先37.1%），Vital Farms, Inc.同比增速更快（28.7% vs -5.9%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-32.1M），过去两年Vital Farms, Inc.的营收复合增速更高（20.2% 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。
维塔托摩西乳业有限公司是一家位于乌干达的乳制品加工企业，由聚焦撒哈拉以南非洲的影响力投资基金维塔资本基金，与乌干达本土乳制品生产商托摩西奶牛场共同出资成立。
APLS vs VITL — 直观对比
营收规模更大
VITL
是对方的1.1倍
$199.9M
营收增速更快
VITL
高出34.6%
-5.9%
净利率更高
VITL
高出37.1%
-29.5%
自由现金流更多
APLS
多$17.9M
$-32.1M
两年增速更快
VITL
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $213.6M |
| 净利润 | $-59.0M | $16.3M |
| 毛利率 | — | 35.8% |
| 营业利润率 | -25.6% | 10.0% |
| 净利率 | -29.5% | 7.6% |
| 营收同比 | -5.9% | 28.7% |
| 净利润同比 | -62.2% | 54.3% |
| 每股收益（稀释后） | $-0.40 | $0.35 |
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APLSVITL
| Q4 25 | $199.9M | $213.6M | ||
| Q3 25 | $458.6M | $198.9M | ||
| Q2 25 | $178.5M | $184.8M | ||
| Q1 25 | $166.8M | $162.2M | ||
| Q4 24 | $212.5M | $166.0M | ||
| Q3 24 | $196.8M | $145.0M | ||
| Q2 24 | $199.7M | $147.4M | ||
| Q1 24 | $172.3M | $147.9M |
净利润APLSVITL
| Q4 25 | $-59.0M | $16.3M | ||
| Q3 25 | $215.7M | $16.4M | ||
| Q2 25 | $-42.2M | $16.6M | ||
| Q1 25 | $-92.2M | $16.9M | ||
| Q4 24 | $-36.4M | $10.6M | ||
| Q3 24 | $-57.4M | $7.4M | ||
| Q2 24 | $-37.7M | $16.3M | ||
| Q1 24 | $-66.4M | $19.0M |
毛利率APLSVITL
| Q4 25 | — | 35.8% | ||
| Q3 25 | — | 37.7% | ||
| Q2 25 | — | 38.9% | ||
| Q1 25 | — | 38.5% | ||
| Q4 24 | — | 36.1% | ||
| Q3 24 | — | 36.9% | ||
| Q2 24 | — | 39.1% | ||
| Q1 24 | — | 39.8% |
营业利润率APLSVITL
| Q4 25 | -25.6% | 10.0% | ||
| Q3 25 | 48.7% | 10.8% | ||
| Q2 25 | -18.6% | 12.9% | ||
| Q1 25 | -50.0% | 13.4% | ||
| Q4 24 | -12.3% | 7.8% | ||
| Q3 24 | -24.0% | 6.4% | ||
| Q2 24 | -14.7% | 11.6% | ||
| Q1 24 | -36.0% | 16.3% |
净利率APLSVITL
| Q4 25 | -29.5% | 7.6% | ||
| Q3 25 | 47.0% | 8.3% | ||
| Q2 25 | -23.6% | 9.0% | ||
| Q1 25 | -55.3% | 10.4% | ||
| Q4 24 | -17.1% | 6.4% | ||
| Q3 24 | -29.2% | 5.1% | ||
| Q2 24 | -18.9% | 11.1% | ||
| Q1 24 | -38.5% | 12.9% |
每股收益（稀释后）APLSVITL
| Q4 25 | $-0.40 | $0.35 | ||
| Q3 25 | $1.67 | $0.36 | ||
| Q2 25 | $-0.33 | $0.36 | ||
| Q1 25 | $-0.74 | $0.37 | ||
| Q4 24 | $-0.30 | $0.23 | ||
| Q3 24 | $-0.46 | $0.16 | ||
| Q2 24 | $-0.30 | $0.36 | ||
| Q1 24 | $-0.54 | $0.43 |
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 | $48.8M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $351.3M |
| 总资产 | $1.1B | $518.7M |
| 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APLSVITL
| Q4 25 | $466.2M | $48.8M | ||
| Q3 25 | $479.2M | $93.8M | ||
| Q2 25 | $370.0M | $108.2M | ||
| Q1 25 | $358.4M | $156.3M | ||
| Q4 24 | $411.3M | $150.6M | ||
| Q3 24 | $396.9M | $149.5M | ||
| Q2 24 | $360.1M | $133.2M | ||
| Q1 24 | $325.9M | $113.8M |
总债务APLSVITL
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSVITL
| Q4 25 | $370.1M | $351.3M | ||
| Q3 25 | $401.2M | $331.2M | ||
| Q2 25 | $156.3M | $309.8M | ||
| Q1 25 | $164.2M | $288.9M | ||
| Q4 24 | $228.5M | $269.3M | ||
| Q3 24 | $237.1M | $253.4M | ||
| Q2 24 | $264.3M | $238.4M | ||
| Q1 24 | $266.7M | $213.3M |
总资产APLSVITL
| Q4 25 | $1.1B | $518.7M | ||
| Q3 25 | $1.1B | $481.5M | ||
| Q2 25 | $821.4M | $430.8M | ||
| Q1 25 | $807.3M | $376.9M | ||
| Q4 24 | $885.1M | $359.3M | ||
| Q3 24 | $901.9M | $344.7M | ||
| Q2 24 | $904.5M | $320.5M | ||
| Q1 24 | $831.9M | $300.2M |
负债/权益比APLSVITL
| 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 | $5.8M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-32.1M |
| 自由现金流率自由现金流/营收 | -7.1% | -15.1% |
| 资本支出强度资本支出/营收 | 0.1% | 17.8% |
| 现金转化率经营现金流/净利润 | — | 0.35× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $-48.2M |
8季度趋势，按日历期对齐
经营现金流APLSVITL
| Q4 25 | $-14.2M | $5.8M | ||
| Q3 25 | $108.5M | $23.4M | ||
| Q2 25 | $4.4M | $-761.0K | ||
| Q1 25 | $-53.4M | $5.3M | ||
| Q4 24 | $19.4M | $14.8M | ||
| Q3 24 | $34.1M | $10.0M | ||
| Q2 24 | $-8.3M | $16.1M | ||
| Q1 24 | $-133.0M | $23.9M |
自由现金流APLSVITL
| Q4 25 | $-14.3M | $-32.1M | ||
| Q3 25 | $108.3M | $-10.6M | ||
| Q2 25 | $4.4M | $-7.6M | ||
| Q1 25 | $-53.4M | $2.1M | ||
| Q4 24 | $19.3M | $-3.4M | ||
| Q3 24 | — | $6.4M | ||
| Q2 24 | $-8.4M | $10.5M | ||
| Q1 24 | $-133.3M | $22.6M |
自由现金流率APLSVITL
| Q4 25 | -7.1% | -15.1% | ||
| Q3 25 | 23.6% | -5.3% | ||
| Q2 25 | 2.5% | -4.1% | ||
| Q1 25 | -32.0% | 1.3% | ||
| Q4 24 | 9.1% | -2.0% | ||
| Q3 24 | — | 4.4% | ||
| Q2 24 | -4.2% | 7.2% | ||
| Q1 24 | -77.3% | 15.3% |
资本支出强度APLSVITL
| Q4 25 | 0.1% | 17.8% | ||
| Q3 25 | 0.0% | 17.1% | ||
| Q2 25 | 0.0% | 3.7% | ||
| Q1 25 | 0.0% | 1.9% | ||
| Q4 24 | 0.0% | 10.9% | ||
| Q3 24 | 0.0% | 2.5% | ||
| Q2 24 | 0.0% | 3.8% | ||
| Q1 24 | 0.2% | 0.9% |
现金转化率APLSVITL
| Q4 25 | — | 0.35× | ||
| Q3 25 | 0.50× | 1.43× | ||
| Q2 25 | — | -0.05× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 1.40× | ||
| Q3 24 | — | 1.34× | ||
| Q2 24 | — | 0.99× | ||
| Q1 24 | — | 1.26× |
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% |
VITL
| Eggs And Egg Related Products | $205.8M | 96% |
| Butter And Butter Related Products | $7.7M | 4% |
