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Apellis Pharmaceuticals, Inc.（APLS）与YELP INC（YELP）财务数据对比。点击上方公司名可切换其他公司
YELP INC的季度营收约是Apellis Pharmaceuticals, Inc.的1.8倍（$360.0M vs $199.9M），YELP INC净利率更高（10.5% vs -29.5%，领先40.0%），YELP INC同比增速更快（-0.5% vs -5.9%），YELP INC自由现金流更多（$72.3M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs 4.0%）
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。
Yelp Inc.是一家总部位于旧金山的美国企业，旗下运营Yelp.com网站与Yelp移动应用，主打用户生成的本地商户点评内容，同时还提供Yelp Guest Manager餐桌预订服务，为消费者和商家搭建双向信息对接的服务平台。
APLS vs YELP — 直观对比
营收规模更大
YELP
是对方的1.8倍
$199.9M
营收增速更快
YELP
高出5.4%
-5.9%
净利率更高
YELP
高出40.0%
-29.5%
自由现金流更多
YELP
多$86.5M
$-14.3M
两年增速更快
APLS
近两年复合增速
4.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $360.0M |
| 净利润 | $-59.0M | $37.8M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 13.6% |
| 净利率 | -29.5% | 10.5% |
| 营收同比 | -5.9% | -0.5% |
| 净利润同比 | -62.2% | -10.5% |
| 每股收益（稀释后） | $-0.40 | $0.60 |
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APLSYELP
| Q4 25 | $199.9M | $360.0M | ||
| Q3 25 | $458.6M | $376.0M | ||
| Q2 25 | $178.5M | $370.4M | ||
| Q1 25 | $166.8M | $358.5M | ||
| Q4 24 | $212.5M | $362.0M | ||
| Q3 24 | $196.8M | $360.3M | ||
| Q2 24 | $199.7M | $357.0M | ||
| Q1 24 | $172.3M | $332.8M |
净利润APLSYELP
| Q4 25 | $-59.0M | $37.8M | ||
| Q3 25 | $215.7M | $39.3M | ||
| Q2 25 | $-42.2M | $44.1M | ||
| Q1 25 | $-92.2M | $24.4M | ||
| Q4 24 | $-36.4M | $42.2M | ||
| Q3 24 | $-57.4M | $38.4M | ||
| Q2 24 | $-37.7M | $38.0M | ||
| Q1 24 | $-66.4M | $14.2M |
营业利润率APLSYELP
| Q4 25 | -25.6% | 13.6% | ||
| Q3 25 | 48.7% | 14.1% | ||
| Q2 25 | -18.6% | 14.4% | ||
| Q1 25 | -50.0% | 8.2% | ||
| Q4 24 | -12.3% | 14.8% | ||
| Q3 24 | -24.0% | 12.9% | ||
| Q2 24 | -14.7% | 11.1% | ||
| Q1 24 | -36.0% | 3.4% |
净利率APLSYELP
| Q4 25 | -29.5% | 10.5% | ||
| Q3 25 | 47.0% | 10.5% | ||
| Q2 25 | -23.6% | 11.9% | ||
| Q1 25 | -55.3% | 6.8% | ||
| Q4 24 | -17.1% | 11.7% | ||
| Q3 24 | -29.2% | 10.7% | ||
| Q2 24 | -18.9% | 10.7% | ||
| Q1 24 | -38.5% | 4.3% |
每股收益（稀释后）APLSYELP
| Q4 25 | $-0.40 | $0.60 | ||
| Q3 25 | $1.67 | $0.61 | ||
| Q2 25 | $-0.33 | $0.67 | ||
| Q1 25 | $-0.74 | $0.36 | ||
| Q4 24 | $-0.30 | $0.58 | ||
| Q3 24 | $-0.46 | $0.56 | ||
| Q2 24 | $-0.30 | $0.54 | ||
| Q1 24 | $-0.54 | $0.20 |
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 | $319.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $710.9M |
| 总资产 | $1.1B | $958.5M |
| 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APLSYELP
| Q4 25 | $466.2M | $319.4M | ||
| Q3 25 | $479.2M | $333.6M | ||
| Q2 25 | $370.0M | $301.1M | ||
| Q1 25 | $358.4M | $324.4M | ||
| Q4 24 | $411.3M | $317.9M | ||
| Q3 24 | $396.9M | $397.0M | ||
| Q2 24 | $360.1M | $384.8M | ||
| Q1 24 | $325.9M | $420.8M |
总债务APLSYELP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSYELP
| Q4 25 | $370.1M | $710.9M | ||
| Q3 25 | $401.2M | $733.2M | ||
| Q2 25 | $156.3M | $746.4M | ||
| Q1 25 | $164.2M | $728.0M | ||
| Q4 24 | $228.5M | $744.0M | ||
| Q3 24 | $237.1M | $739.5M | ||
| Q2 24 | $264.3M | $735.3M | ||
| Q1 24 | $266.7M | $722.0M |
总资产APLSYELP
| Q4 25 | $1.1B | $958.5M | ||
| Q3 25 | $1.1B | $989.9M | ||
| Q2 25 | $821.4M | $980.2M | ||
| Q1 25 | $807.3M | $985.2M | ||
| Q4 24 | $885.1M | $983.6M | ||
| Q3 24 | $901.9M | $980.2M | ||
| Q2 24 | $904.5M | $965.0M | ||
| Q1 24 | $831.9M | $993.5M |
负债/权益比APLSYELP
| 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 | $84.5M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $72.3M |
| 自由现金流率自由现金流/营收 | -7.1% | 20.1% |
| 资本支出强度资本支出/营收 | 0.1% | 3.4% |
| 现金转化率经营现金流/净利润 | — | 2.24× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $323.7M |
8季度趋势，按日历期对齐
经营现金流APLSYELP
| Q4 25 | $-14.2M | $84.5M | ||
| Q3 25 | $108.5M | $131.5M | ||
| Q2 25 | $4.4M | $58.0M | ||
| Q1 25 | $-53.4M | $98.0M | ||
| Q4 24 | $19.4M | $71.0M | ||
| Q3 24 | $34.1M | $102.3M | ||
| Q2 24 | $-8.3M | $39.7M | ||
| Q1 24 | $-133.0M | $72.9M |
自由现金流APLSYELP
| Q4 25 | $-14.3M | $72.3M | ||
| Q3 25 | $108.3M | $118.9M | ||
| Q2 25 | $4.4M | $45.0M | ||
| Q1 25 | $-53.4M | $87.5M | ||
| Q4 24 | $19.3M | $60.0M | ||
| Q3 24 | — | $92.5M | ||
| Q2 24 | $-8.4M | $30.1M | ||
| Q1 24 | $-133.3M | $65.9M |
自由现金流率APLSYELP
| Q4 25 | -7.1% | 20.1% | ||
| Q3 25 | 23.6% | 31.6% | ||
| Q2 25 | 2.5% | 12.2% | ||
| Q1 25 | -32.0% | 24.4% | ||
| Q4 24 | 9.1% | 16.6% | ||
| Q3 24 | — | 25.7% | ||
| Q2 24 | -4.2% | 8.4% | ||
| Q1 24 | -77.3% | 19.8% |
资本支出强度APLSYELP
| Q4 25 | 0.1% | 3.4% | ||
| Q3 25 | 0.0% | 3.3% | ||
| Q2 25 | 0.0% | 3.5% | ||
| Q1 25 | 0.0% | 2.9% | ||
| Q4 24 | 0.0% | 3.0% | ||
| Q3 24 | 0.0% | 2.7% | ||
| Q2 24 | 0.0% | 2.7% | ||
| Q1 24 | 0.2% | 2.1% |
现金转化率APLSYELP
| Q4 25 | — | 2.24× | ||
| Q3 25 | 0.50× | 3.34× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 4.02× | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | — | 2.66× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 5.15× |
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% |
YELP
| Advertising Services | $231.4M | 64% |
| Advertising Restaurants And Other | $106.8M | 30% |
| Other Revenue | $21.8M | 6% |
