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Apellis Pharmaceuticals, Inc. (APLS) 10-Year Financial Performance & Capital Metrics

APLS • • Industrial / General
HealthcareBiotechnologyAutoimmune & Inflammatory DiseasesOphthalmology & Ocular Diseases
AboutApellis Pharmaceuticals, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic compounds through the inhibition of the complement system for autoimmune and inflammatory diseases. The company's lead product candidate is pegcetacoplan that is in Phase III clinical trials for the treatment of geographic atrophy (GA) in age-related macular degeneration and paroxysmal nocturnal hemoglobinuria (PNH) diseases. It also develops EMPAVELI (systemic pegcetacoplan) for the treatment of cold agglutinin disease (CAD), and hematopoietic stem cell transplantation-associated thrombotic microangiopathy (HSCT-TMA) in hematology; C3 glomerulopathy (C3G), and immune complex membranoproliferative glomerulonephritis (IC-MPGN) in nephrology; and amyotrophic lateral sclerosis (ALS) in neurology. In addition, the company develops APL-2006, a bispecific C3 and VEGF inhibitor for treating complement-mediated disorders; APL-1030, a C3 inhibitor for the treatment of multiple neurodegenerative diseases; and the combination of EMPAVELI and a small interfering RNA, or siRNA for reducing the production of C3 proteins by the liver. It has a collaboration and license agreement with Swedish Orphan Biovitrum AB (publ) to co-develop pegcetacoplan; and a research collaboration with Beam Therapeutics Inc. focused on the use of Beam's base editing technology to discover new treatments for complement-driven diseases. Apellis Pharmaceuticals, Inc. was incorporated in 2009 and is based in Waltham, Massachusetts.Show more
  • Revenue $781M +97.0%
  • EBITDA -$163M +68.3%
  • Net Income -$198M +62.6%
  • EPS (Diluted) -1.60 +64.0%
  • Gross Margin 84.93% -0.4%
  • EBITDA Margin -20.88% +83.9%
  • Operating Margin -21.11% +83.8%
  • Net Margin -25.32% +81.0%
  • ROE -93.55% +67.8%
  • ROIC -102.56%
  • Debt/Equity 2.06 +260.5%
  • Interest Coverage -4.08 +76.6%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

No significant strengths identified

✗Weaknesses

  • ✗High debt to equity ratio of 2.1x
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Trading more than 30% below 52-week high
  • ✗Expensive at 11.1x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y127.27%
TTM42.11%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM117.99%

EPS CAGR

10Y-
5Y-
3Y-
TTM117.24%

ROCE

10Y Avg-83.18%
5Y Avg-62.24%
3Y Avg-68.8%
Latest-26.6%

Peer Comparison

Ophthalmology & Ocular Diseases
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ALDXAldeyra Therapeutics, Inc.265.32M4.41-4.69-87.71%0.22

Profit & Loss

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+00000250.65M66.56M75.42M396.59M781.37M
Revenue Growth %-------0.73%0.13%4.26%0.97%
Cost of Goods Sold+000127.92M595.45K25.05M5.2M5.64M58.51M117.72M
COGS % of Revenue-----0.1%0.08%0.07%0.15%0.15%
Gross Profit+00-50.77M-127.92M-595.45K225.6M61.36M69.79M338.08M663.64M
Gross Margin %-----0.9%0.92%0.93%0.85%0.85%
Gross Profit Growth %----1.52%1%379.87%-0.73%0.14%3.84%0.96%
Operating Expenses+20.09M27.28M50.77M127.92M287.42M439.32M597.64M664.4M855.2M828.62M
OpEx % of Revenue-----1.75%8.98%8.81%2.16%1.06%
Selling, General & Admin6.36M4.3M10.46M22.64M66.45M139.4M176.77M277.16M500.81M501.05M
SG&A % of Revenue-----0.56%2.66%3.67%1.26%0.64%
Research & Development13.73M22.98M40.3M105.29M220.97M299.92M420.87M387.24M354.39M327.57M
R&D % of Revenue-----1.2%6.32%5.13%0.89%0.42%
Other Operating Expenses6.28K157.71K11.54K-111K0-501K1.36M-288K00
Operating Income+-46.57M-27.28M-50.77M-127.92M-288.02M-213.73M-536.28M-594.61M-517.12M-164.98M
Operating Margin %------0.85%-8.06%-7.88%-1.3%-0.21%
Operating Income Growth %-3.12%0.41%-0.86%-1.52%-1.25%0.26%-1.51%-0.11%0.13%0.68%
EBITDA+6.4M0-50.76M0-287.42M-212.87M-534.78M-593.13M-515.42M-163.18M
EBITDA Margin %------0.85%-8.03%-7.86%-1.3%-0.21%
EBITDA Growth %1.57%-1%-1%-0.26%-1.51%-0.11%0.13%0.68%
D&A (Non-Cash Add-back)52.97M27.28M11.94K127.92M595.45K859K1.49M1.49M1.7M1.8M
EBIT-46.52M-27.13M-50.91M-124.99M-299.42M-313.09M-732.76M-618.88M-496.92M-156.32M
Net Interest Income+00-96.92K447.81K-176K-25.77M-12.82M-23.71M-8.65M-27.62M
Interest Income0002.96M5.11M4.16M418K8.91M20.93M12.77M
Interest Expense0096.92K2.51M5.29M29.94M13.24M32.63M29.58M40.39M
Other Income/Expense57.14K157.71K-239K422.81K-16.69M-129.3M-209.72M-56.89M-9.38M-31.74M
Pretax Income+-46.52M-27.13M-51.01M-127.5M-304.71M-343.03M-746M-651.5M-526.5M-196.72M
Pretax Margin %------1.37%-11.21%-8.64%-1.33%-0.25%
Income Tax+00250.61K-533K01.84M352K669K2.13M1.16M
Effective Tax Rate %1%1%1%1%1%1.01%1%1%1%1.01%
Net Income+-46.52M-27.13M-51.01M-127.5M-304.71M-344.87M-746.35M-652.17M-528.63M-197.88M
Net Margin %------1.38%-11.21%-8.65%-1.33%-0.25%
Net Income Growth %-3.31%0.42%-0.88%-1.5%-1.39%-0.13%-1.16%0.13%0.19%0.63%
Net Income (Continuing)-46.52M-27.13M-51.01M-127.5M-304.71M-344.87M-746.35M-652.17M-528.63M-197.88M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)+-2.57-1.50-1.49-2.34-4.98-4.59-8.84-6.15-4.45-1.60
EPS Growth %-3.28%0.42%0.01%-0.57%-1.13%0.08%-0.93%0.3%0.28%0.64%
EPS (Basic)-2.57-1.50-1.49-2.34-4.98-4.59-8.84-6.15-4.45-1.60
Diluted Shares Outstanding18.09M18.09M34.22M54.4M62.23M75.16M84.42M106.11M118.68M123.91M
Basic Shares Outstanding18.09M18.09M34.22M54.4M62.23M75.16M84.42M106.11M118.68M123.91M
Dividend Payout Ratio----------

Balance Sheet

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+38.04M27.37M182.02M202.44M373.09M917.19M824.05M719.52M766.33M788.95M
Cash & Short-Term Investments36M24.86M175.64M176.27M351.99M877.65M701.23M551.8M352.3M416.14M
Cash Only36M24.86M175.64M176.27M351.99M565.78M640.19M551.8M351.19M411.29M
Short-Term Investments00000311.87M61.03M01.11M4.85M
Accounts Receivable0000025M80.1M7.73M206.44M271.72M
Days Sales Outstanding-----36.41439.2537.39190126.93
Inventory00000024M85.71M146.36M82.48M
Days Inventory Outstanding------1.68K5.55K913.04255.74
Other Current Assets2.04M1.37M1.31M1.84M1.31M11.14M13.54M36.66M22.41M9.1M
Total Non-Current Assets+133.27K64.53K116.15K1.09M16.15M43.38M57.72M40.69M22.4M96.1M
Property, Plant & Equipment000977.92K15.77M24.52M26.08M24.89M21.09M19.04M
Fixed Asset Turnover-----10.22x2.55x3.03x18.80x41.05x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments000000003.24M0
Other Non-Current Assets133.27K64.53K116.15K116.42K385.09K18.86M31.64M15.8M-1.93M77.06M
Total Assets+38.18M27.43M182.13M203.53M389.24M960.57M881.76M760.22M788.73M885.05M
Asset Turnover-----0.26x0.08x0.10x0.50x0.88x
Asset Growth %1.67%-0.28%5.64%0.12%0.91%1.47%-0.08%-0.14%0.04%0.12%
Total Current Liabilities+3.2M3.64M6.55M17.02M65.75M128.33M131.85M167.61M247.59M185.51M
Accounts Payable2.48M2.55M3.66M10.25M8.36M8.48M16.91M37.34M37.52M38.57M
Days Payables Outstanding---29.265.12K123.521.19K2.42K234.03119.59
Short-Term Debt0001.67M2.61M00000
Deferred Revenue (Current)0000000000
Other Current Liabilities000043.34M4.23M7.58M81.43M75.83M0
Current Ratio11.89x7.52x27.77x11.89x5.67x7.15x6.25x4.29x3.10x4.25x
Quick Ratio11.89x7.52x27.77x11.89x5.67x7.15x6.07x3.78x2.50x3.81x
Cash Conversion Cycle------937.193.17K869.01263.08
Total Non-Current Liabilities+0026.63M25.54M289.26M627.68M551.26M422.74M346.62M471M
Long-Term Debt0026.39M25.38M142.57M358.83M189.02M92.74M93.03M452.83M
Capital Lease Obligations000011.86M15.22M17.08M14.35M11.45M10.2M
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities00244.29K158.78K134.84M253.64M345.15M315.65M242.13M7.97M
Total Liabilities3.2M3.64M33.19M42.56M355.02M756.01M683.1M590.35M594.21M656.51M
Total Debt+0026.39M27.04M157.03M377.73M210.22M112.71M110.93M469.78M
Net Debt-36M-24.86M-149.25M-149.22M-194.95M-188.05M-429.97M-439.09M-240.26M58.49M
Debt / Equity--0.18x0.17x4.59x1.85x1.06x0.66x0.57x2.06x
Debt / EBITDA----------
Net Debt / EBITDA-5.63x---------
Interest Coverage---523.83x-50.91x-54.50x-7.14x-40.50x-18.23x-17.48x-4.08x
Total Equity+34.98M23.79M148.94M160.97M34.23M204.56M198.66M169.87M194.52M228.54M
Equity Growth %1.64%-0.32%5.26%0.08%-0.79%4.98%-0.03%-0.14%0.15%0.17%
Book Value per Share1.931.324.352.960.552.722.351.601.641.84
Total Shareholders' Equity34.98M23.79M148.94M160.97M34.23M204.56M198.66M169.87M194.52M228.54M
Common Stock8438435.03K5.63K6.39K8K10K11K12K12K
Retained Earnings-71.13M-98.26M-149.26M-276.77M-581.47M-926.35M-1.66B-2.31B-2.84B-3.04B
Treasury Stock0000000000
Accumulated OCI000-122.81K-153.78K-117K-2.09M-875K-3.54M-3.31M
Minority Interest0000000000

Cash Flow

Dec 2015Dec 2016Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-18.86M-26M-46.6M-131.24M-211.13M-160.49M-563.13M-513.75M-594.74M-87.87M
Operating CF Margin %------0.64%-8.46%-6.81%-1.5%-0.11%
Operating CF Growth %-0.9%-0.38%-0.79%-1.82%-0.61%0.24%-2.51%0.09%-0.16%0.85%
Net Income-46.52M-27.12M-51.01M-127.5M-304.71M-344.87M-746.35M-652.17M-528.63M-197.88M
Depreciation & Amortization0011.94K0596K859K1.49M1.49M1.7M1.8M
Stock-Based Compensation545.7K1.08M5.42M7.73M21.14M45.38M70.67M91.08M105.94M114.13M
Deferred Taxes00153.69K000198.26M000
Other Non-Cash Items26.49M1.01M13.56K568.33K18.52M118.56M6.33M61.55M26.41M12.44M
Working Capital Changes628.31K42.57K-1.19M-12.04M53.31M19.59M-93.52M-15.7M-200.17M-18.36M
Change in Receivables000000-10.1M2.38M0-58.48M
Change in Inventory000000-16.32M-69.4M0-10.76M
Change in Payables1.73M69.78K932.3K6.59M-1.64M-54K10.49M18.69M170K1.09M
Cash from Investing+0000-1.69M-316.99M247.62M59.89M-674K-403K
Capital Expenditures0000-1.69M-5.42M-1.1M-1.52M-773K-403K
CapEx % of Revenue-----0.02%0.02%0.02%0%0%
Acquisitions----------
Investments----------
Other Investing000000248.72M61.42M99K0
Cash from Financing+41.24M14.86M197.38M131.9M388.54M692.18M392.24M365.66M394.5M149.24M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing-90.87K01.2M709.36K94.75M-12.12M11.87M-14.46M10.11M-235.04M
Net Change in Cash----------
Free Cash Flow+-18.86M-26M-46.6M-131.24M-212.83M-165.91M-564.23M-515.27M-595.51M-88.27M
FCF Margin %------0.66%-8.48%-6.83%-1.5%-0.11%
FCF Growth %-0.89%-0.38%-0.79%-1.82%-0.62%0.22%-2.4%0.09%-0.16%0.85%
FCF per Share-1.04-1.44-1.36-2.41-3.42-2.21-6.68-4.86-5.02-0.71
FCF Conversion (FCF/Net Income)0.41x0.96x0.91x1.03x0.69x0.47x0.75x0.79x1.13x0.44x
Interest Paid0000987K12.93M10.27M5M029.37M
Taxes Paid00000049K4.92M01.65M

Key Ratios

Metric2015201620172018201920202021202220232024
Return on Equity (ROE)-193.01%-92.31%-59.06%-82.28%-312.2%-288.86%-370.2%-353.93%-290.14%-93.55%
Return on Invested Capital (ROIC)----1677.51%--970.89%----102.56%
Gross Margin-----90.01%92.19%92.53%85.25%84.93%
Net Margin------137.59%-1121.27%-864.7%-133.29%-25.32%
Debt / Equity--0.18x0.17x4.59x1.85x1.06x0.66x0.57x2.06x
Interest Coverage---523.83x-50.91x-54.50x-7.14x-40.50x-18.23x-17.48x-4.08x
FCF Conversion0.41x0.96x0.91x1.03x0.69x0.47x0.75x0.79x1.13x0.44x
Revenue Growth-------73.44%13.31%425.83%97.02%

Revenue by Segment

20202021202220232024
Product-15.15M65.09M366.28M709.95M
Product Growth--329.74%462.71%93.83%
Licensing And Other Revenue-51.42M10.33M30.31M71.41M
Licensing And Other Revenue Growth---79.91%193.42%135.61%
Collaboration152K----
Collaboration Growth-----

Frequently Asked Questions

Growth & Financials

Apellis Pharmaceuticals, Inc. (APLS) reported $1.02B in revenue for fiscal year 2024.

Apellis Pharmaceuticals, Inc. (APLS) grew revenue by 97.0% over the past year. This is strong growth.

Yes, Apellis Pharmaceuticals, Inc. (APLS) is profitable, generating $45.0M in net income for fiscal year 2024 (-25.3% net margin).

Dividend & Returns

Apellis Pharmaceuticals, Inc. (APLS) has a return on equity (ROE) of -93.5%. Negative ROE indicates the company is unprofitable.

Apellis Pharmaceuticals, Inc. (APLS) generated $78.6M in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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