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Apellis Pharmaceuticals, Inc.（APLS）与WD 40 CO（WDFC）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WD 40 CO的1.3倍（$199.9M vs $154.4M），WD 40 CO净利率更高（11.3% vs -29.5%，领先40.8%），WD 40 CO同比增速更快（0.6% vs -5.9%），WD 40 CO自由现金流更多（$9.1M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 5.4%）
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。
WD-40公司是全球知名的消费及工业维护用品生产商，核心产品为同名多功能防锈润滑剂，同时布局清洁剂、除油剂、特殊润滑产品等品类，业务覆盖全球170余个国家和地区，服务零售、工业、汽车后市场等多个领域。
APLS vs WDFC — 直观对比
营收规模更大
APLS
是对方的1.3倍
$154.4M
营收增速更快
WDFC
高出6.5%
-5.9%
净利率更高
WDFC
高出40.8%
-29.5%
自由现金流更多
WDFC
多$23.3M
$-14.3M
两年增速更快
APLS
近两年复合增速
5.4%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $154.4M |
| 净利润 | $-59.0M | $17.5M |
| 毛利率 | — | 56.2% |
| 营业利润率 | -25.6% | 15.1% |
| 净利率 | -29.5% | 11.3% |
| 营收同比 | -5.9% | 0.6% |
| 净利润同比 | -62.2% | -7.8% |
| 每股收益（稀释后） | $-0.40 | $1.28 |
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APLSWDFC
| Q4 25 | $199.9M | $154.4M | ||
| Q3 25 | $458.6M | $163.5M | ||
| Q2 25 | $178.5M | $156.9M | ||
| Q1 25 | $166.8M | $146.1M | ||
| Q4 24 | $212.5M | $153.5M | ||
| Q3 24 | $196.8M | $156.0M | ||
| Q2 24 | $199.7M | $155.0M | ||
| Q1 24 | $172.3M | $139.1M |
净利润APLSWDFC
| Q4 25 | $-59.0M | $17.5M | ||
| Q3 25 | $215.7M | $21.2M | ||
| Q2 25 | $-42.2M | $21.0M | ||
| Q1 25 | $-92.2M | $29.9M | ||
| Q4 24 | $-36.4M | $18.9M | ||
| Q3 24 | $-57.4M | $16.8M | ||
| Q2 24 | $-37.7M | $19.8M | ||
| Q1 24 | $-66.4M | $15.5M |
毛利率APLSWDFC
| Q4 25 | — | 56.2% | ||
| Q3 25 | — | 54.7% | ||
| Q2 25 | — | 56.2% | ||
| Q1 25 | — | 54.6% | ||
| Q4 24 | — | 54.8% | ||
| Q3 24 | — | 54.1% | ||
| Q2 24 | — | 53.1% | ||
| Q1 24 | — | 52.4% |
营业利润率APLSWDFC
| Q4 25 | -25.6% | 15.1% | ||
| Q3 25 | 48.7% | 17.1% | ||
| Q2 25 | -18.6% | 17.4% | ||
| Q1 25 | -50.0% | 15.9% | ||
| Q4 24 | -12.3% | 16.4% | ||
| Q3 24 | -24.0% | 15.4% | ||
| Q2 24 | -14.7% | 17.5% | ||
| Q1 24 | -36.0% | 15.1% |
净利率APLSWDFC
| Q4 25 | -29.5% | 11.3% | ||
| Q3 25 | 47.0% | 13.0% | ||
| Q2 25 | -23.6% | 13.4% | ||
| Q1 25 | -55.3% | 20.4% | ||
| Q4 24 | -17.1% | 12.3% | ||
| Q3 24 | -29.2% | 10.8% | ||
| Q2 24 | -18.9% | 12.8% | ||
| Q1 24 | -38.5% | 11.2% |
每股收益（稀释后）APLSWDFC
| Q4 25 | $-0.40 | $1.28 | ||
| Q3 25 | $1.67 | $1.57 | ||
| Q2 25 | $-0.33 | $1.54 | ||
| Q1 25 | $-0.74 | $2.19 | ||
| Q4 24 | $-0.30 | $1.39 | ||
| Q3 24 | $-0.46 | $1.23 | ||
| Q2 24 | $-0.30 | $1.46 | ||
| Q1 24 | $-0.54 | $1.14 |
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 | $48.6M |
| 总债务越低越好 | — | $85.7M |
| 股东权益账面价值 | $370.1M | $264.1M |
| 总资产 | $1.1B | $459.7M |
| 负债/权益比越低杠杆越低 | — | 0.32× |
8季度趋势，按日历期对齐
现金及短期投资APLSWDFC
| Q4 25 | $466.2M | $48.6M | ||
| Q3 25 | $479.2M | $58.1M | ||
| Q2 25 | $370.0M | $51.7M | ||
| Q1 25 | $358.4M | $53.0M | ||
| Q4 24 | $411.3M | $54.9M | ||
| Q3 24 | $396.9M | $46.7M | ||
| Q2 24 | $360.1M | $45.3M | ||
| Q1 24 | $325.9M | $55.4M |
总债务APLSWDFC
| Q4 25 | — | $85.7M | ||
| Q3 25 | — | $86.2M | ||
| Q2 25 | — | $85.6M | ||
| Q1 25 | — | $84.4M | ||
| Q4 24 | — | $84.6M | ||
| Q3 24 | — | $86.0M | ||
| Q2 24 | — | $85.5M | ||
| Q1 24 | $93.1M | $85.9M |
股东权益APLSWDFC
| Q4 25 | $370.1M | $264.1M | ||
| Q3 25 | $401.2M | $268.2M | ||
| Q2 25 | $156.3M | $257.1M | ||
| Q1 25 | $164.2M | $242.1M | ||
| Q4 24 | $228.5M | $226.3M | ||
| Q3 24 | $237.1M | $230.5M | ||
| Q2 24 | $264.3M | $222.2M | ||
| Q1 24 | $266.7M | $216.3M |
总资产APLSWDFC
| Q4 25 | $1.1B | $459.7M | ||
| Q3 25 | $1.1B | $475.8M | ||
| Q2 25 | $821.4M | $456.0M | ||
| Q1 25 | $807.3M | $458.3M | ||
| Q4 24 | $885.1M | $447.3M | ||
| Q3 24 | $901.9M | $449.0M | ||
| Q2 24 | $904.5M | $443.6M | ||
| Q1 24 | $831.9M | $442.0M |
负债/权益比APLSWDFC
| Q4 25 | — | 0.32× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.33× | ||
| Q1 25 | — | 0.35× | ||
| Q4 24 | — | 0.37× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.38× | ||
| Q1 24 | 0.35× | 0.40× |
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 | $10.0M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $9.1M |
| 自由现金流率自由现金流/营收 | -7.1% | 5.9% |
| 资本支出强度资本支出/营收 | 0.1% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 0.57× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $78.2M |
8季度趋势，按日历期对齐
经营现金流APLSWDFC
| Q4 25 | $-14.2M | $10.0M | ||
| Q3 25 | $108.5M | $29.9M | ||
| Q2 25 | $4.4M | $35.1M | ||
| Q1 25 | $-53.4M | $8.0M | ||
| Q4 24 | $19.4M | $14.9M | ||
| Q3 24 | $34.1M | $27.2M | ||
| Q2 24 | $-8.3M | $19.9M | ||
| Q1 24 | $-133.0M | $18.0M |
自由现金流APLSWDFC
| Q4 25 | $-14.3M | $9.1M | ||
| Q3 25 | $108.3M | $28.6M | ||
| Q2 25 | $4.4M | $34.0M | ||
| Q1 25 | $-53.4M | $6.6M | ||
| Q4 24 | $19.3M | $14.2M | ||
| Q3 24 | — | $26.4M | ||
| Q2 24 | $-8.4M | $18.7M | ||
| Q1 24 | $-133.3M | $16.7M |
自由现金流率APLSWDFC
| Q4 25 | -7.1% | 5.9% | ||
| Q3 25 | 23.6% | 17.5% | ||
| Q2 25 | 2.5% | 21.6% | ||
| Q1 25 | -32.0% | 4.5% | ||
| Q4 24 | 9.1% | 9.3% | ||
| Q3 24 | — | 16.9% | ||
| Q2 24 | -4.2% | 12.0% | ||
| Q1 24 | -77.3% | 12.0% |
资本支出强度APLSWDFC
| Q4 25 | 0.1% | 0.6% | ||
| Q3 25 | 0.0% | 0.8% | ||
| Q2 25 | 0.0% | 0.7% | ||
| Q1 25 | 0.0% | 0.9% | ||
| Q4 24 | 0.0% | 0.5% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.8% | ||
| Q1 24 | 0.2% | 0.9% |
现金转化率APLSWDFC
| Q4 25 | — | 0.57× | ||
| Q3 25 | 0.50× | 1.41× | ||
| Q2 25 | — | 1.67× | ||
| Q1 25 | — | 0.27× | ||
| Q4 24 | — | 0.79× | ||
| Q3 24 | — | 1.62× | ||
| Q2 24 | — | 1.00× | ||
| Q1 24 | — | 1.16× |
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% |
WDFC
| Other | $82.6M | 53% |
| WD40Multi Use Product | $56.0M | 36% |
| WD40Specialist | $9.0M | 6% |
| Other Maintenance Products | $4.0M | 3% |
| Homecare And Cleaning Products | $2.7M | 2% |
