What is Apellis Pharmaceuticals, Inc.'s earnings per share (EPS)?

Apellis Pharmaceuticals, Inc. (APLS) reported diluted earnings per share of $0.20 for fiscal year 2025. This represents a 112.5% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Apellis Pharmaceuticals, Inc. (APLS) Financials

APLS

FY2025 annual

Revenue $1.0B +28.5% YoY

Net Income $22.4M +111.3% YoY

EPS (Diluted) $0.20 +112.5% YoY

Free Cash Flow $45.0M +151.0% YoY

Source SEC Filings (10-K/10-Q) Latest period Q1 FY2026, ended Mar 31, 2026 Reported May 7, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q1 FY2026, filed May 7, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the APLS SEC filings page.

Apellis Pharmaceuticals, Inc. (APLS) reported $1.0B in revenue for fiscal year 2025, up 28.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI APLS FY2025 2026-10-03

The business moved from cash-consuming development to positive earnings in FY2025, but working-capital needs expanded alongside sales growth.

In FY2025, operating cash flow of $45.3M exceeded net income of $22.4M, so reported profit was accompanied by cash generation. That contrasts with FY2024, when operating cash flow was -$87.9M against a net loss of $197.9M, making the improvement an earnings-quality shift rather than merely an accounting change.

Revenue reached $1.0B in FY2025 after $781.4M in FY2024, a scale shift that changed the cost structure rather than merely adding sales. Operating margin moved from -21.1% to 5.5% over the same period, showing that added sales covered operating costs more efficiently.

The balance sheet became more working-capital-intensive: receivables rose from $206.4M in FY2023 to $366.2M in FY2025, tying more resources to sales even as cash flow turned positive. The current ratio fell from 4.3x to 3.1x, indicating less short-term cushion as current liabilities reached $323.6M.

Financial Health Signals

Financial Health Score 42/100

Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Apellis Pharmaceuticals, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability

Apellis Pharmaceuticals, Inc. has an operating margin of 5.5%, meaning the company retains $6 of operating profit per $100 of revenue. This below-average margin results in a low score of 16/100, suggesting thin profitability after operating expenses. This is up from -21.1% the prior year.

Growth

Apellis Pharmaceuticals, Inc.'s revenue surged 28.5% year-over-year to $1.0B, reflecting rapid business expansion. This strong growth earns a score of 96/100.

Leverage

Apellis Pharmaceuticals, Inc. has a moderate D/E ratio of 1.90. This balance of debt and equity financing earns a leverage score of 33/100.

Liquidity

With a current ratio of 3.14, Apellis Pharmaceuticals, Inc. holds $3.14 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 80/100.

Cash Flow

Apellis Pharmaceuticals, Inc.'s free cash flow margin of 4.5% results in a low score of 7/100. Capital expenditures of $313K absorb a large share of operating cash flow.

Returns

Apellis Pharmaceuticals, Inc. generates a 6.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 20/100. This is up from -86.6% the prior year.

Altman Z-Score Grey Zone

2.42

Apellis Pharmaceuticals, Inc. scores 2.42, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($5.3B) relative to total liabilities ($705.1M). This signals moderate financial risk that warrants monitoring.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

5/7

Apellis Pharmaceuticals, Inc. passes 5 of 7 computable financial strength tests (2 of the nine could not be computed from available data). All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Cash-Backed

2.02x

For every $1 of reported earnings, Apellis Pharmaceuticals, Inc. generates $2.02 in operating cash flow ($45.3M OCF vs $22.4M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.25x

Apellis Pharmaceuticals, Inc. earns $1.25 in operating income for every $1 of interest expense ($55.4M vs $44.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$268.3M

YoY+60.9%

QoQ+34.2%

Apellis Pharmaceuticals, Inc. generated $268.3M in revenue in Q1 2026. This represents an increase of 60.9% from the same quarter a year earlier. Against the prior quarter it is up 34.2%.

EBITDA

$26.8M

YoY+132.3%

QoQ+152.7%

Apellis Pharmaceuticals, Inc.'s EBITDA was $26.8M in Q1 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 132.3% from the same quarter a year earlier. Against the prior quarter it is up 152.7%.

Net Income

$18.7M

YoY+120.2%

QoQ+131.6%

Apellis Pharmaceuticals, Inc. reported $18.7M in net income in Q1 2026. This represents an increase of 120.2% from the same quarter a year earlier. Against the prior quarter it is up 131.6%.

EPS (Diluted)

$0.15

YoY+120.3%

QoQ+133.3%

Apellis Pharmaceuticals, Inc. earned $0.15 per diluted share (EPS) in Q1 2026. This represents an increase of 120.3% from the same quarter a year earlier. Against the prior quarter it is up 133.3%.

Cash & Balance Sheet

Cash & Debt

$405.2M

YoY+13.1%

QoQ-13.1%

5Y CAGR+8.8%

Apellis Pharmaceuticals, Inc. held $405.2M in cash as of Q1 2026; long-term debt is not reported for that period.

Shares Outstanding

128M

YoY+1.9%

QoQ+0.1%

5Y CAGR+9.7%

Apellis Pharmaceuticals, Inc. had 128M shares outstanding in Q1 2026. This represents an increase of 1.9% from the same quarter a year earlier. Against the prior quarter it is up 0.1%.

Free Cash Flow

Not reported for Q1 2026.

Dividends Per Share

Not reported for Q1 2026.

Margins & Returns

Operating Margin

9.9%

YoY+59.8pp

QoQ+35.4pp

Apellis Pharmaceuticals, Inc.'s operating margin was 9.9% in Q1 2026, reflecting core business profitability. This is up 59.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 35.4 percentage points.

Net Margin

7.0%

YoY+62.2pp

QoQ+36.4pp

Apellis Pharmaceuticals, Inc.'s net profit margin was 7.0% in Q1 2026, showing the share of revenue converted to profit. This is up 62.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 36.4 percentage points.

Return on Equity

4.5%

YoY+60.7pp

QoQ+20.4pp

Apellis Pharmaceuticals, Inc.'s ROE was 4.5% in Q1 2026, measuring profit generated per dollar of shareholder equity. This is up 60.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 20.4 percentage points.

Gross Margin

Not reported for Q1 2026.

Capital Allocation

R&D Spending

$77.0M

YoY-10.9%

QoQ+3.7%

Apellis Pharmaceuticals, Inc. invested $77.0M in research and development in Q1 2026. This represents a decrease of 10.9% from the same quarter a year earlier. Against the prior quarter it is up 3.7%.

Share Buybacks

Not reported for Q1 2026.

Capital Expenditures

Not reported for Q1 2026.

APLS Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

APLS quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	$1.1B	$1.0B+28.5%	$781.4M+97.0%	$396.6M+425.8%	$75.4M+13.3%	$66.6M-73.4%	$250.6M	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$286.4M	$295.9M-9.7%	$327.6M-7.6%	$354.4M-8.5%	$387.2M+12.0%	$345.9M+15.3%	$299.9M+35.7%	$221.0M+109.9%	$105.3M+161.2%	$40.3M+75.4%	$23.0M+67.4%	$13.7M
SG&A Expenses	$545.2M	$550.3M+9.8%	$501.1M0.0%	$500.8M+80.7%	$277.2M+56.8%	$176.8M+26.8%	$139.4M+107.9%	$67.0M+196.2%	$22.6M+116.4%	$10.5M+143.1%	$4.3M-32.3%	$6.4M
Operating Income	$165.2M	$55.4M+133.6%	-$165.0M+68.1%	-$517.1M+13.0%	-$594.6M-10.9%	-$536.3M-150.9%	-$213.7M+25.8%	-$288.0M-125.1%	-$127.9M-152.0%	-$50.8M-86.1%	-$27.3M+41.4%	-$46.6M
EBITDA	N/A	$57.0M+134.9%	-$163.2M+68.3%	-$515.3M+13.1%	-$593.1M-10.9%	-$534.9M-151.0%	-$213.1M+26.0%	-$287.8M	N/A	N/A	N/A	N/A
Interest Expense	$43.6M	$44.3M+9.7%	$40.4M+36.5%	$29.6M+418.3%	$5.7M-52.6%	$12.1M+236.3%	$3.6M	N/A	N/A	$97K	N/A	N/A
Income Tax	$1.9M	$1.7M+48.2%	$1.2M-45.5%	$2.1M+218.7%	$669K+90.1%	$352K-80.9%	$1.8M	N/A	N/A	N/A	N/A	N/A
Net Income	$133.3M	$22.4M+111.3%	-$197.9M+62.6%	-$528.6M+18.9%	-$652.2M+12.6%	-$746.4M-116.4%	-$344.9M-13.2%	-$304.7M-139.0%	-$127.5M-150.0%	-$51.0M-88.0%	-$27.1M+41.7%	-$46.5M
EPS (Basic)	N/A	$0.18+111.3%	-$1.60+64.0%	-$4.45+27.6%	-$6.15+30.4%	-$8.84-92.6%	-$4.59	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$1.04	$0.20+112.5%	-$1.60+64.0%	-$4.45+27.6%	-$6.15+30.4%	-$8.84-92.6%	-$4.59	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	130M+4.8%	124M+4.4%	119M+11.8%	106M+25.7%	84M+12.3%	75M	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Revenue	$268.3M+60.9%	$199.9M-5.9%	$458.6M+133.0%	$178.5M-10.6%	$166.8M-3.2%	$212.5M+45.2%	$196.8M+78.3%	$199.7M+110.3%
R&D Expenses	$77.0M-10.9%	$74.2M-2.8%	$68.2M-23.0%	$67.0M-14.0%	$86.4M+2.0%	$76.4M+10.2%	$88.6M+11.5%	$77.9M-18.5%
SG&A Expenses	$124.3M-3.9%	$147.1M+21.1%	$142.7M+17.0%	$131.1M+2.4%	$129.3M-0.1%	$121.5M-14.3%	$122.0M-16.2%	$128.1M+15.0%
Operating Income	$26.5M+131.8%	-$51.1M-95.5%	$223.2M+572.0%	-$33.3M-13.1%	-$83.3M-34.2%	-$26.2M+69.0%	-$47.3M+65.5%	-$29.4M+75.6%
EBITDA	$26.8M+132.3%	-$50.8M-97.6%	$223.5M+577.4%	-$32.8M-13.3%	-$82.9M-34.4%	-$25.7M+69.4%	-$46.8M+65.7%	-$29.0M+75.8%
Interest Expense	$10.3M-6.6%	$10.8M-5.9%	$11.3M-10.0%	$11.2M+19.2%	$11.0M+58.6%	$11.5M	$12.5M+1297.1%	$9.4M+944.5%
Income Tax	$496K+45.5%	$313K+9.4%	$602K+1.7%	$466K+308.8%	$341K+100.6%	$286K-79.9%	$592K+154.1%	$114K-41.2%
Net Income	$18.7M+120.2%	-$59.0M-62.2%	$215.7M+475.5%	-$42.2M-11.9%	-$92.2M-38.8%	-$36.4M+59.0%	-$57.4M+59.0%	-$37.7M+69.1%
EPS (Basic)	$0.15+120.3%	-$0.47-62.1%	$1.71+471.7%	-$0.33-10.0%	-$0.74-37.0%	-$0.29+59.7%	-$0.46+60.7%	-$0.30+70.6%
EPS (Diluted)	$0.15+120.3%	-$0.45-55.2%	$1.67+463.0%	-$0.33-10.0%	-$0.74-37.0%	-$0.29+59.7%	-$0.46+60.7%	-$0.30+70.6%
Diluted Shares (Avg)	131M+4.8%	N/A	130M+4.7%	126M+1.7%	125M+2.0%	N/A	124M+3.3%	124M+3.8%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.

APLS Balance Sheet

APLS quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$1.1B+21.5%	$885.1M+12.2%	$788.7M+3.8%	$760.2M-13.8%	$881.8M-8.2%	$960.6M+146.8%	$389.2M+91.2%	$203.5M+11.8%	$182.1M+563.9%	$27.4M	N/A
Current Assets	$1.0B+28.6%	$789.0M+3.0%	$766.3M+6.5%	$719.5M-12.7%	$824.0M-10.2%	$917.2M+145.8%	$373.1M+84.3%	$202.4M+11.2%	$182.0M+565.0%	$27.4M	N/A
Cash & Equivalents	$466.2M+13.4%	$411.3M+17.1%	$351.2M-36.4%	$551.8M-13.8%	$640.2M+13.2%	$565.8M+60.7%	$352.0M+99.7%	$176.3M+0.4%	$175.6M+606.4%	$24.9M-30.9%	$36.0M
Short-Term Investments	$0	$0	$0	$0-100.0%	$60.4M-80.6%	$311.9M	$0	$0	$0	$0	$0
Inventory	$142.6M+75.1%	$81.4M-44.4%	$146.4M+70.8%	$85.7M+426.3%	$16.3M	$0	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$366.2M+38.2%	$264.9M+28.3%	$206.4M+2571.7%	$7.7M-23.5%	$10.1M	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$705.1M+7.4%	$656.5M+10.5%	$594.2M+0.7%	$590.3M-13.6%	$683.1M-9.6%	$756.0M+113.0%	$355.0M+734.1%	$42.6M+28.2%	$33.2M+812.0%	$3.6M	N/A
Current Liabilities	$323.6M+74.4%	$185.5M-25.1%	$247.6M+47.7%	$167.6M+27.1%	$131.8M+2.7%	$128.3M+95.2%	$65.8M+286.2%	$17.0M+159.8%	$6.6M+80.1%	$3.6M	N/A
Non-Current Liabilities	$381.5M-19.0%	$471.0M+35.9%	$346.6M-18.0%	$422.7M-23.3%	$551.3M-12.2%	$627.7M+117.0%	$289.3M+1032.8%	$25.5M-4.1%	$26.6M	$0	N/A
Long-Term Debt	N/A	N/A	$93.0M+0.3%	$92.7M	N/A	N/A	N/A	N/A	$27.0M	N/A	N/A
Total Equity	$370.1M+62.0%	$228.5M+17.5%	$194.5M+14.5%	$169.9M-14.5%	$198.7M-2.9%	$204.6M+497.6%	$34.2M-78.7%	$161.0M+8.1%	$148.9M+526.0%	$23.8M-32.0%	$35.0M
Retained Earnings	-$3.0B+0.7%	-$3.0B-7.0%	-$2.8B-22.9%	-$2.3B-39.4%	-$1.7B-78.8%	-$926.3M-59.3%	-$581.5M-110.1%	-$276.8M-85.4%	-$149.3M-51.9%	-$98.3M	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Total Assets	$1.1B+34.1%	$1.1B+21.5%	$1.1B+17.4%	$821.4M-9.2%	$807.3M-3.0%	$885.1M+12.2%	$901.9M+10.2%	$904.5M-1.2%
Current Assets	$1.0B+41.3%	$1.0B+28.6%	$990.7M+18.8%	$755.6M-12.1%	$727.7M-10.3%	$789.0M+3.0%	$833.9M+4.7%	$860.0M-3.7%
Cash & Equivalents	$405.2M+13.1%	$466.2M+13.4%	$479.2M+20.7%	$370.0M+2.8%	$358.4M+10.0%	$411.3M+17.1%	$396.9M-12.3%	$360.1M-41.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$131.4M+59.3%	$142.6M+75.1%	$122.8M+1.5%	$121.0M-20.8%	$82.5M-48.9%	$81.4M-44.4%	$121.1M+22.8%	$152.8M+48.0%
Accounts Receivable	$440.3M+87.2%	$366.2M+38.2%	$345.5M+23.8%	$214.1M-29.7%	$235.2M-12.2%	$264.9M+28.3%	$279.0M+64.8%	$304.4M+174.5%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$667.6M+3.8%	$705.1M+7.4%	$657.6M-1.1%	$665.1M+3.9%	$643.1M+13.8%	$656.5M+10.5%	$664.7M+13.4%	$640.2M+12.3%
Current Liabilities	$283.4M+58.9%	$323.6M+74.4%	$279.5M+46.2%	$200.7M+18.6%	$178.4M-17.1%	$185.5M-25.1%	$191.3M+3.0%	$169.2M-3.2%
Non-Current Liabilities	$384.2M-17.3%	$381.5M-19.0%	$378.0M-20.2%	$464.4M-1.4%	$464.7M+32.8%	$471.0M+35.9%	$473.5M+18.3%	$471.0M+19.1%
Total Equity	$414.9M+152.7%	$370.1M+62.0%	$401.2M+69.2%	$156.3M-40.9%	$164.2M-38.4%	$228.5M+17.5%	$237.1M+2.1%	$264.3M-23.5%
Retained Earnings	-$3.0B+4.3%	-$3.0B+0.7%	-$3.0B+1.5%	-$3.2B-7.8%	-$3.1B-7.7%	-$3.0B-7.0%	-$3.0B-9.1%	-$2.9B-12.8%

Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.

APLS Cash Flow Statement

APLS quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	$37.8M	$45.3M+151.6%	-$87.9M+85.2%	-$594.7M-15.8%	-$513.7M+8.8%	-$563.1M-250.9%	-$160.5M+24.0%	-$211.1M-60.9%	-$131.2M-181.7%	-$46.6M-79.2%	-$26.0M-37.9%	-$18.9M
Depreciation & Amortization	N/A	$1.6M-13.3%	$1.8M+0.7%	$1.8M+14.9%	$1.6M+12.5%	$1.4M+116.5%	$637K+165.4%	$240K	N/A	N/A	N/A	N/A
Stock-Based Compensation	N/A	$104.0M-8.9%	$114.1M+7.7%	$105.9M+16.3%	$91.1M+28.9%	$70.7M+55.7%	$45.4M+114.6%	$21.1M+173.4%	$7.7M+42.7%	$5.4M+402.2%	$1.1M+97.7%	$546K
Capital Expenditures	N/A	$313K-22.3%	$403K-47.9%	$773K-49.3%	$1.5M+38.2%	$1.1M-79.7%	$5.4M+220.3%	$1.7M	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	$45.0M+151.0%	-$88.3M+85.2%	-$595.5M-15.6%	-$515.3M+8.7%	-$564.2M-240.1%	-$165.9M+22.0%	-$212.8M	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	-$313K+22.3%	-$403K+40.2%	-$674K-101.1%	$59.9M-75.8%	$247.6M+178.1%	-$317.0M-18623.5%	-$1.7M	N/A	N/A	N/A	N/A
Financing Cash Flow	$8.7M	$8.9M-94.0%	$149.2M-62.2%	$394.5M+7.9%	$365.7M-6.8%	$392.2M-43.3%	$692.2M+78.1%	$388.5M+194.6%	$131.9M-33.2%	$197.4M+1228.0%	$14.9M	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Cash Flow	-$61.0M-14.1%	-$14.2M-173.2%	$108.5M+218.1%	$4.4M+153.3%	-$53.4M+59.8%	$19.4M+119.8%	$34.1M+120.2%	-$8.3M+94.4%
Depreciation & Amortization	$291K-34.8%	$327K-26.8%	$339K-25.8%	$446K-0.7%	$446K+0.5%	$447K-6.1%	$457K-1.1%	$449K+5.6%
Stock-Based Compensation	$25.2M-8.0%	N/A	N/A	N/A	$27.4M-9.8%	N/A	N/A	N/A
Capital Expenditures	N/A	$108K+440.0%	$148K	$49K-45.6%	$8K-97.3%	$20K-78.9%	$0-100.0%	$90K-75.8%
Free Cash Flow	N/A	-$14.3M-173.9%	$108.3M+217.7%	$4.4M+152.2%	-$53.4M+59.9%	$19.3M+119.7%	$34.1M+120.2%	-$8.4M+94.4%
Investing Cash Flow	N/A	-$108K-440.0%	-$148K	-$49K+45.6%	-$8K+97.3%	-$20K-600.0%	$0+100.0%	-$90K+75.8%
Financing Cash Flow	$64K-76.6%	$1.3M+131.5%	$793K-68.8%	$6.6M-84.6%	$274K-99.7%	-$4.0M-2.2%	$2.5M-55.8%	$42.5M+2623.5%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

APLS Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

APLS quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Margin	5.5%+26.6pp	-21.1%	-130.4%	-788.4%	-805.7%	-85.3%	N/A	N/A	N/A	N/A	N/A
Net Margin	2.2%+27.5pp	-25.3%	-133.3%	-864.7%	-1121.3%	-137.6%	N/A	N/A	N/A	N/A	N/A
Return on Equity	6.0%+92.6pp	-86.6%+185.2pp	-271.8%+112.2pp	-383.9%-8.2pp	-375.7%-207.1pp	-168.6%+721.6pp	-890.2%-811.0pp	-79.2%-45.0pp	-34.3%+79.7pp	-114.0%+19.0pp	-133.0%
Return on Assets	2.1%+24.4pp	-22.4%+44.7pp	-67.0%+18.8pp	-85.8%-1.1pp	-84.6%-48.7pp	-35.9%+42.4pp	-78.3%-15.6pp	-62.6%-34.6pp	-28.0%+70.9pp	-98.9%	N/A
Current Ratio	3.14-1.1x	4.25+1.2x	3.10-1.2x	4.29-2.0x	6.25-0.9x	7.15+1.5x	5.67-6.2x	11.89-15.9x	27.77+20.3x	7.52	N/A
Debt-to-Equity	1.90-1.0x	2.87+2.4x	0.48-0.1x	0.55-2.9x	3.44-0.3x	3.70-6.7x	10.37+10.1x	0.26+0.1x	0.180.0x	0.15	N/A
Asset Turnover	0.93+0.1x	0.88+0.4x	0.50+0.4x	0.100.0x	0.08-0.2x	0.26	N/A	N/A	N/A	N/A	N/A
FCF Margin	4.5%+15.8pp	-11.3%	-150.2%	-683.2%	-847.7%	-66.2%	N/A	N/A	N/A	N/A	N/A

Metric	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q	Q2'2410-Q
Operating Margin	9.9%+59.8pp	-25.6%-13.3pp	48.7%+72.7pp	-18.6%-3.9pp	-50.0%-13.9pp	-12.3%+45.4pp	-24.0%	-14.7%
Net Margin	7.0%+62.2pp	-29.5%-12.4pp	47.0%+76.2pp	-23.6%-4.8pp	-55.3%-16.7pp	-17.1%+43.4pp	-29.2%	-18.9%
Return on Equity	4.5%+60.7pp	-15.9%0.0pp	53.8%+78.0pp	-27.0%-12.7pp	-56.2%-31.3pp	-15.9%+29.6pp	-24.2%+36.2pp	-14.2%+21.1pp
Return on Assets	1.7%+13.1pp	-5.5%-1.4pp	20.4%+26.8pp	-5.1%-1.0pp	-11.4%-3.4pp	-4.1%+7.1pp	-6.4%+10.8pp	-4.2%+9.2pp
Current Ratio	3.63-0.5x	3.14-1.1x	3.54-0.8x	3.77-1.3x	4.08+0.3x	4.25+1.2x	4.36+0.1x	5.080.0x
Debt-to-Equity	1.61-2.3x	1.90-1.0x	1.64-1.2x	4.25+1.8x	3.92+3.6x	2.87+2.4x	2.80+2.4x	2.42+2.2x
Asset Turnover	0.250.0x	0.19-0.1x	0.43+0.2x	0.220.0x	0.210.0x	0.24+0.1x	0.22+0.1x	0.22+0.1x
FCF Margin	N/A	-7.1%-16.2pp	23.6%+6.3pp	2.5%+6.7pp	-32.0%+45.3pp	9.1%+76.0pp	17.3%	-4.2%

Not reported in any period shown, so not listed: Gross Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Apellis Pharmaceuticals, Inc. APLS	FY2025	$1.0B	$22.4M	2.2%	$5.3B	42/100
Scholar Rock Holding Corporation SRRK	FY2025	$0	-$378.0M	N/A	$4.8B	—
Kymera Therapeutics, Inc. KYMR	FY2025	$39.2M	$311.4M	N/A	$8.9B	38/100
Telix Pharmaceuticals Limited TLX	FY2025	$803.8M	-$7.1M	-0.9%	$3.6B	39/100
Immunovant, Inc. IMVT	FY2026	N/A	-$505.6M	N/A	$5.8B	—
Protagonist Therapeutics, Inc PTGX	FY2025	$46.0M	-$130.1M	N/A	$8.8B	76/100

Where Apellis Pharmaceuticals, Inc. Ranks

Frequently Asked Questions

What is Apellis Pharmaceuticals, Inc.'s annual revenue?

Apellis Pharmaceuticals, Inc. (APLS) reported $1.0B in total revenue for fiscal year 2025. This represents a 28.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Apellis Pharmaceuticals, Inc.'s revenue growing?

Apellis Pharmaceuticals, Inc. (APLS) revenue grew by 28.5% year-over-year, from $781.4M to $1.0B in fiscal year 2025.

Is Apellis Pharmaceuticals, Inc. profitable?

Yes, Apellis Pharmaceuticals, Inc. (APLS) reported a net income of $22.4M in fiscal year 2025, with a net profit margin of 2.2%.

What is Apellis Pharmaceuticals, Inc.'s EBITDA?

Apellis Pharmaceuticals, Inc. (APLS) had EBITDA of $57.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Apellis Pharmaceuticals, Inc.'s operating margin?

Apellis Pharmaceuticals, Inc. (APLS) had an operating margin of 5.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Apellis Pharmaceuticals, Inc.'s net profit margin?

Apellis Pharmaceuticals, Inc. (APLS) had a net profit margin of 2.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Apellis Pharmaceuticals, Inc.'s return on equity (ROE)?

Apellis Pharmaceuticals, Inc. (APLS) has a return on equity of 6.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Apellis Pharmaceuticals, Inc.'s free cash flow?

Apellis Pharmaceuticals, Inc. (APLS) generated $45.0M in free cash flow during fiscal year 2025. This represents a 151.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Apellis Pharmaceuticals, Inc.'s operating cash flow?

Apellis Pharmaceuticals, Inc. (APLS) generated $45.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Apellis Pharmaceuticals, Inc.'s total assets?

Apellis Pharmaceuticals, Inc. (APLS) had $1.1B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Apellis Pharmaceuticals, Inc.'s capital expenditures?

Apellis Pharmaceuticals, Inc. (APLS) invested $313K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Apellis Pharmaceuticals, Inc. spend on research and development?

Apellis Pharmaceuticals, Inc. (APLS) invested $295.9M in research and development during fiscal year 2025.

How many shares does Apellis Pharmaceuticals, Inc. have outstanding?

Apellis Pharmaceuticals, Inc. (APLS) had 128M shares outstanding as of fiscal year 2025.

What is Apellis Pharmaceuticals, Inc.'s current ratio?

Apellis Pharmaceuticals, Inc. (APLS) had a current ratio of 3.14 as of fiscal year 2025, which is generally considered healthy.

What is Apellis Pharmaceuticals, Inc.'s debt-to-equity ratio?

Apellis Pharmaceuticals, Inc. (APLS) had a debt-to-equity ratio of 1.90 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Apellis Pharmaceuticals, Inc.'s return on assets (ROA)?

Apellis Pharmaceuticals, Inc. (APLS) had a return on assets of 2.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Apellis Pharmaceuticals, Inc.'s Altman Z-Score?

Apellis Pharmaceuticals, Inc. (APLS) has an Altman Z-Score of 2.42, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Apellis Pharmaceuticals, Inc.'s Piotroski F-Score?

Apellis Pharmaceuticals, Inc. (APLS) has a Piotroski F-Score of 5 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Apellis Pharmaceuticals, Inc.'s earnings high quality?

Apellis Pharmaceuticals, Inc. (APLS) has an earnings quality ratio of 2.02x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Apellis Pharmaceuticals, Inc. cover its interest payments?

Apellis Pharmaceuticals, Inc. (APLS) has an interest coverage ratio of 1.25x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Apellis Pharmaceuticals, Inc.?

Apellis Pharmaceuticals, Inc. (APLS) scores 42 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.