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Apellis Pharmaceuticals, Inc.（APLS）与VIRTUS INVESTMENT PARTNERS, INC.（VRTS）财务数据对比。点击上方公司名可切换其他公司
VIRTUS INVESTMENT PARTNERS, INC.的季度营收约是Apellis Pharmaceuticals, Inc.的1.0倍（$208.0M vs $199.9M），VIRTUS INVESTMENT PARTNERS, INC.净利率更高（16.3% vs -29.5%，领先45.8%），Apellis Pharmaceuticals, Inc.同比增速更快（-5.9% vs -10.9%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-74.1M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -3.2%）
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。
Virtus Investment Partners是一家美国多管理人资产管理企业，旗下汇集多家具备独立投资流程与自有品牌的关联投资管理人，同时也提供非关联子投资顾问服务，为客户提供多元化的资产管理解决方案。
APLS vs VRTS — 直观对比
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $208.0M |
| 净利润 | $-59.0M | $33.9M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 19.1% |
| 净利率 | -29.5% | 16.3% |
| 营收同比 | -5.9% | -10.9% |
| 净利润同比 | -62.2% | -14.2% |
| 每股收益（稀释后） | $-0.40 | $5.15 |
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
| Q4 25 | $199.9M | $208.0M | ||
| Q3 25 | $458.6M | $216.4M | ||
| Q2 25 | $178.5M | $210.5M | ||
| Q1 25 | $166.8M | $217.9M | ||
| Q4 24 | $212.5M | $233.5M | ||
| Q3 24 | $196.8M | $227.0M | ||
| Q2 24 | $199.7M | $224.4M | ||
| Q1 24 | $172.3M | $222.0M |
| Q4 25 | $-59.0M | $33.9M | ||
| Q3 25 | $215.7M | $31.3M | ||
| Q2 25 | $-42.2M | $42.7M | ||
| Q1 25 | $-92.2M | $28.1M | ||
| Q4 24 | $-36.4M | $39.5M | ||
| Q3 24 | $-57.4M | $49.1M | ||
| Q2 24 | $-37.7M | $26.0M | ||
| Q1 24 | $-66.4M | $37.9M |
| Q4 25 | -25.6% | 19.1% | ||
| Q3 25 | 48.7% | 21.7% | ||
| Q2 25 | -18.6% | 21.5% | ||
| Q1 25 | -50.0% | 16.8% | ||
| Q4 24 | -12.3% | 21.7% | ||
| Q3 24 | -24.0% | 24.3% | ||
| Q2 24 | -14.7% | 19.7% | ||
| Q1 24 | -36.0% | 14.5% |
| Q4 25 | -29.5% | 16.3% | ||
| Q3 25 | 47.0% | 14.5% | ||
| Q2 25 | -23.6% | 20.3% | ||
| Q1 25 | -55.3% | 12.9% | ||
| Q4 24 | -17.1% | 16.9% | ||
| Q3 24 | -29.2% | 21.6% | ||
| Q2 24 | -18.9% | 11.6% | ||
| Q1 24 | -38.5% | 17.1% |
| Q4 25 | $-0.40 | $5.15 | ||
| Q3 25 | $1.67 | $4.65 | ||
| Q2 25 | $-0.33 | $6.12 | ||
| Q1 25 | $-0.74 | $4.05 | ||
| Q4 24 | $-0.30 | $4.65 | ||
| Q3 24 | $-0.46 | $5.71 | ||
| Q2 24 | $-0.30 | $2.43 | ||
| Q1 24 | $-0.54 | $4.10 |
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 | — | $390.0M |
| 股东权益账面价值 | $370.1M | $934.0M |
| 总资产 | $1.1B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.42× |
8季度趋势，按日历期对齐
| Q4 25 | $466.2M | — | ||
| Q3 25 | $479.2M | — | ||
| Q2 25 | $370.0M | — | ||
| Q1 25 | $358.4M | — | ||
| Q4 24 | $411.3M | — | ||
| Q3 24 | $396.9M | — | ||
| Q2 24 | $360.1M | — | ||
| Q1 24 | $325.9M | — |
| Q4 25 | — | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | — | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M | ||
| Q1 24 | $93.1M | $253.0M |
| Q4 25 | $370.1M | $934.0M | ||
| Q3 25 | $401.2M | $918.7M | ||
| Q2 25 | $156.3M | $896.4M | ||
| Q1 25 | $164.2M | $893.7M | ||
| Q4 24 | $228.5M | $897.5M | ||
| Q3 24 | $237.1M | $889.0M | ||
| Q2 24 | $264.3M | $868.7M | ||
| Q1 24 | $266.7M | $871.7M |
| Q4 25 | $1.1B | $4.3B | ||
| Q3 25 | $1.1B | $3.9B | ||
| Q2 25 | $821.4M | $3.7B | ||
| Q1 25 | $807.3M | $3.7B | ||
| Q4 24 | $885.1M | $4.0B | ||
| Q3 24 | $901.9M | $3.6B | ||
| Q2 24 | $904.5M | $3.6B | ||
| Q1 24 | $831.9M | $3.5B |
| Q4 25 | — | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | — | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× | ||
| Q1 24 | 0.35× | 0.29× |
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 | $-67.2M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-74.1M |
| 自由现金流率自由现金流/营收 | -7.1% | -35.6% |
| 资本支出强度资本支出/营收 | 0.1% | 3.3% |
| 现金转化率经营现金流/净利润 | — | -1.99× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $100.2M |
8季度趋势，按日历期对齐
| Q4 25 | $-14.2M | $-67.2M | ||
| Q3 25 | $108.5M | $108.3M | ||
| Q2 25 | $4.4M | $75.8M | ||
| Q1 25 | $-53.4M | $-3.8M | ||
| Q4 24 | $19.4M | $1.8M | ||
| Q3 24 | $34.1M | $69.1M | ||
| Q2 24 | $-8.3M | $70.0M | ||
| Q1 24 | $-133.0M | $-34.5M |
| Q4 25 | $-14.3M | $-74.1M | ||
| Q3 25 | $108.3M | $106.9M | ||
| Q2 25 | $4.4M | $74.2M | ||
| Q1 25 | $-53.4M | $-6.8M | ||
| Q4 24 | $19.3M | $-3.8M | ||
| Q3 24 | — | $68.7M | ||
| Q2 24 | $-8.4M | $68.6M | ||
| Q1 24 | $-133.3M | $-36.5M |
| Q4 25 | -7.1% | -35.6% | ||
| Q3 25 | 23.6% | 49.4% | ||
| Q2 25 | 2.5% | 35.2% | ||
| Q1 25 | -32.0% | -3.1% | ||
| Q4 24 | 9.1% | -1.6% | ||
| Q3 24 | — | 30.3% | ||
| Q2 24 | -4.2% | 30.6% | ||
| Q1 24 | -77.3% | -16.4% |
| Q4 25 | 0.1% | 3.3% | ||
| Q3 25 | 0.0% | 0.7% | ||
| Q2 25 | 0.0% | 0.7% | ||
| Q1 25 | 0.0% | 1.4% | ||
| Q4 24 | 0.0% | 2.4% | ||
| Q3 24 | 0.0% | 0.2% | ||
| Q2 24 | 0.0% | 0.6% | ||
| Q1 24 | 0.2% | 0.9% |
| Q4 25 | — | -1.99× | ||
| Q3 25 | 0.50× | 3.45× | ||
| Q2 25 | — | 1.77× | ||
| Q1 25 | — | -0.13× | ||
| Q4 24 | — | 0.04× | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 2.69× | ||
| Q1 24 | — | -0.91× |
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% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
