Apellis Pharmaceuticals, Inc. (APLS) Financial Ratios
13 years of historical data (2013–2025) · Healthcare · Biotechnology
EV/EBITDA
92.46
↑+65% vs avg
5yr avg: 55.88
30Y Low55.9·High55.9
P/FCF
116.63
↑+66% vs avg
5yr avg: 70.33
30Y Low70.3·High70.3
P/B Ratio
↓
13.96
↓-39% vs avg
5yr avg: 22.95
30Y Low4.5·High55.7
ROE
↑
7.5%
↓+103% vs avg
5yr avg: -220.1%
30Y Low-370%·High7%
Debt/EBITDA
8.53
+0% vs avg
5yr avg: 8.53
30Y Low8.5·High8.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
APLS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Apellis Pharmaceuticals, Inc. trades at 227.8x earnings, 63% above its 5-year average of 139.6x, sitting at the 100th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.3x, the stock trades at a premium of 921%. On a free-cash-flow basis, the stock trades at 116.6x P/FCF, 66% above the 5-year average of 70.3x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $5.3B | $3.2B | $4.0B | $7.1B | $5.5B | $4.0B | $4.3B | $1.9B | $717M | $743M | — |
| Enterprise Value | $5.3B | $3.2B | $4.0B | $6.9B | $5.0B | $3.6B | $4.1B | $1.7B | $568M | $593M | — |
| P/E Ratio → | 227.83 | 139.56 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.23 | 3.15 | 5.06 | 17.91 | 72.75 | 59.96 | 17.15 | — | — | — | — |
| P/B Ratio | 13.96 | 8.55 | 17.30 | 36.52 | 32.30 | 20.09 | 21.02 | 55.67 | 4.46 | 4.99 | — |
| P/FCF | 116.63 | 70.33 | — | — | — | — | — | — | — | — | — |
| P/OCF | 115.83 | 69.84 | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
APLS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Apellis Pharmaceuticals, Inc.'s enterprise value stands at 92.5x EBITDA, 65% above its 5-year average of 55.9x. The Healthcare sector median is 14.4x, placing the stock at a 543% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.17 | 5.13 | 17.31 | 66.93 | 53.50 | 16.40 | — | — | — | — |
| EV / EBITDA | 92.46 | 55.88 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 95.06 | 46.53 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 70.74 | — | — | — | — | — | — | — | — | — |
APLS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Apellis Pharmaceuticals, Inc. earns an operating margin of 5.5%. Operating margins have expanded from -130.4% to 5.5% over the past 3 years, signaling improving operational efficiency. ROE of 7.5% is modest. ROIC of 12.3% represents solid returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 89.8% | 89.8% | 84.9% | 85.2% | 92.5% | 92.2% | 90.0% | — | — | — | — |
| Operating Margin | 5.5% | 5.5% | -21.1% | -130.4% | -788.4% | -805.7% | -85.3% | — | — | — | — |
| Net Profit Margin | 2.2% | 2.2% | -25.3% | -133.3% | -864.7% | -1121.3% | -137.6% | — | — | — | — |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.5% | 7.5% | -93.5% | -290.1% | -353.9% | -370.2% | -288.9% | -312.2% | -82.3% | -59.1% | -92.3% |
| ROA | 2.3% | 2.3% | -23.6% | -68.3% | -79.4% | -81.0% | -51.1% | -102.8% | -66.1% | -48.7% | -82.7% |
| ROIC | 12.3% | 12.3% | -102.6% | — | — | — | -970.9% | — | -1677.5% | — | — |
| ROCE | 7.6% | 7.6% | -26.6% | -91.2% | -88.6% | -67.8% | -37.0% | -112.9% | -70.7% | -50.9% | -92.8% |
APLS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Apellis Pharmaceuticals, Inc. carries a Debt/EBITDA ratio of 8.5x, which is highly leveraged (159% above the sector average of 3.3x). Net debt stands at $19M ($486M total debt minus $468M cash). Interest coverage of just 1.5x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.31 | 1.31 | 2.06 | 0.57 | 0.66 | 1.06 | 1.85 | 4.59 | 0.17 | 0.18 | — |
| Debt / EBITDA | 8.53 | 8.53 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.05 | 0.26 | -1.24 | -2.58 | -2.16 | -0.92 | -5.70 | -0.93 | -1.00 | -1.04 |
| Net Debt / EBITDA | 0.33 | 0.33 | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 0.41 | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 1.54 | 1.54 | -3.87 | -16.80 | -18.97 | -55.34 | -10.46 | -56.66 | -49.74 | -525.30 | — |
APLS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Apellis Pharmaceuticals, Inc.'s current ratio of 3.14x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 2.70x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.14 | 3.14 | 4.25 | 3.10 | 4.29 | 6.25 | 7.15 | 5.67 | 11.89 | 27.77 | 7.52 |
| Quick Ratio | 2.70 | 2.70 | 3.81 | 2.50 | 3.78 | 6.07 | 7.15 | 5.67 | 11.89 | 27.77 | 7.52 |
| Cash Ratio | 1.45 | 1.45 | 2.24 | 1.42 | 3.29 | 5.32 | 6.84 | 5.35 | 10.35 | 26.80 | 6.83 |
| Asset Turnover | — | 0.93 | 0.88 | 0.50 | 0.10 | 0.08 | 0.26 | — | — | — | — |
| Inventory Turnover | 0.72 | 0.72 | 1.43 | 0.40 | 0.07 | 0.22 | — | — | — | — | — |
| Days Sales Outstanding | — | 133.17 | 126.93 | 190.00 | 37.39 | 439.25 | 36.41 | — | — | — | — |
APLS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Apellis Pharmaceuticals, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.4% | 0.7% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 0.9% | 1.4% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $126M | $124M | $119M | $106M | $84M | $75M | $62M | $54M | $34M | $18M |
Peer Comparison
Compare APLS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 APLSYou | $5B | 227.8 | 92.5 | 116.6 | 89.8% | 5.5% | 7.5% | 12.3% | 8.5 |
 RARE | $3B | -4.5 | — | — | 83.8% | -79.5% | -607.5% | -89.4% | — |
 BEAM | $3B | -38.9 | — | — | 84.0% | -274.6% | -8.1% | -31.1% | — |
 AKRO | $4B | -14.6 | — | — | — | — | -39.2% | -55.3% | — |
 INVA | $2B | 6.9 | 8.1 | 9.9 | 72.3% | 38.5% | 29.1% | 14.2% | 1.3 |
 BCAB | $5M | -0.1 | — | — | 100.0% | -2965.3% | — | — | — |
 REGN | $74B | 17.1 | 17.8 | 18.1 | 85.4% | 24.9% | 14.9% | 8.9% | 0.7 |
 BIIB | $28B | 21.7 | 11.4 | 13.8 | 70.5% | 19.1% | 7.4% | 6.5% | 2.5 |
 IONS | $13B | -31.9 | — | — | 98.3% | -40.5% | -70.7% | -12.8% | — |
 OMAB | $5B | 16.7 | 10.2 | 12.1 | 75.6% | 56.0% | 48.6% | 31.7% | 1.4 |
 CHRS | $213M | 1.2 | — | — | -37.3% | -429.5% | 275.4% | — | — |
| Healthcare Median | — | 22.3 | 14.4 | 18.5 | 63.9% | -5.2% | -33.7% | -11.2% | 3.3 |
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Start ComparisonAPLS — Frequently Asked Questions
Quick answers to the most common questions about buying APLS stock.
What is Apellis Pharmaceuticals, Inc.'s P/E ratio?
Apellis Pharmaceuticals, Inc.'s current P/E ratio is 227.8x. The historical average is 139.6x. This places it at the 100th percentile of its historical range.
What is Apellis Pharmaceuticals, Inc.'s EV/EBITDA?
Apellis Pharmaceuticals, Inc.'s current EV/EBITDA is 92.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 55.9x.
What is Apellis Pharmaceuticals, Inc.'s ROE?
Apellis Pharmaceuticals, Inc.'s return on equity (ROE) is 7.5%. The historical average is -179.8%.
Is APLS stock overvalued?
Based on historical data, Apellis Pharmaceuticals, Inc. is trading at a P/E of 227.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Apellis Pharmaceuticals, Inc.'s profit margins?
Apellis Pharmaceuticals, Inc. has 89.8% gross margin and 5.5% operating margin.
How much debt does Apellis Pharmaceuticals, Inc. have?
Apellis Pharmaceuticals, Inc.'s Debt/EBITDA ratio is 8.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.