Last 44 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 116.44 | — | 3.31 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 3.85 | — | 1.55 | 3.06 | 4.11 | 4.65 | 4.54 | 5.95 | 10.49 | 12.39 | 10.36 | 28.61 | 41.87 |
| — | — | -65.7% | -48.7% | -60.8% | -62.5% | -56.2% | -79.2% | -75.0% | -80.4% | -87.7% | -61.3% | -51.7% | |
| P/B Ratio | 7.14 | 8.55 | 7.11 | 13.96 | 16.71 | 17.30 | 15.07 | 17.98 | 27.10 | 37.31 | 19.70 | 31.47 | 18.23 |
| — | -50.6% | -52.8% | -22.4% | -38.4% | -53.6% | -23.5% | -42.9% | +48.7% | +10.8% | -18.7% | +118.3% | +69.1% | |
| P/FCF | 58.55 | — | 6.58 | 124.06 | — | 51.11 | 26.20 | — | — | — | — | — | — |
| — | — | -74.9% | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | 33.61 | — | 3.19 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | 41.50 | 36.68 | 3.13 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Apellis Pharmaceuticals, Inc.'s operating margin was 44.7% in Q4 2025, down 4.0 pp QoQ and up 57.0 pp YoY. The trailing four-quarter average of 6.2% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 55.5% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 85.2% | 125.6% | 94.7% | 92.1% | 79.4% | 80.8% | 83.0% | 88.2% | 88.0% | 86.4% | 79.7% | 91.2% | 82.6% |
| — | +55.5% | +14.1% | +4.4% | -9.8% | -6.5% | +4.1% | -3.3% | +6.6% | -0.8% | -15.0% | -8.4% | -9.6% | |
| Operating Margin | 8.0% | 44.7% | 48.7% | -18.6% | -50.0% | -12.3% | -24.0% | -14.7% | -36.0% | -57.7% | -124.2% | -126.8% | -390.4% |
| — | +462.9% | +302.6% | -26.5% | -38.7% | +78.7% | +80.7% | +88.4% | +90.8% | +92.0% | +82.1% | +86.1% | +56.5% | |
| Net Margin | 3.2% | 71.0% | 47.0% | -23.6% | -55.3% | -17.1% | -29.2% | -18.9% | -38.5% | -60.5% | -127.0% | -128.5% | -396.4% |
| — | +515.4% | +261.2% | -25.2% | -43.4% | +71.7% | +77.0% | +85.3% | +90.3% | +91.7% | +85.4% | +86.6% | +59.0% |
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 7.5% | -21.1% | 77.4% | -26.3% | -47.0% | -15.6% | -22.9% | -14.2% | -28.8% | -41.5% | -48.6% | -32.2% | -61.1% |
| — | -35.1% | +437.8% | -85.4% | -63.0% | +62.4% | +52.8% | +56.0% | +52.9% | +40.3% | +18.5% | +17.7% | -45.3% | |
| ROA | 2.3% | -7.6% | 22.9% | -5.2% | -10.9% | -4.1% | -6.4% | -4.3% | -8.2% | -11.0% | -16.2% | -12.9% | -20.4% |
| — | -87.4% | +460.8% | -19.3% | -33.0% | +63.1% | +60.7% | +66.3% | +59.9% | +45.8% | +20.7% | +11.3% | -49.2% | |
| ROIC | 27.4% | -18.5% | 51.3% | -9.4% | -22.2% | -6.6% | -10.3% | -8.6% | -107.6% | — | — | — | — |
| — | -182.2% | +599.2% | -9.0% | +79.3% | — | — | — | — | — | — | — | — |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has weakened 26.3% YoY to 3.14x, tightening the short-term liquidity position. Debt/Equity has declined for 3 consecutive quarters, reflecting a deleveraging trend.
| Metric | TTM | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.30 | 0.30 | 1.18 | 3.01 | 2.86 | 2.06 | 1.98 | 1.80 | 0.72 | 0.57 | 0.47 | 0.32 | 0.27 |
| — | -85.2% | -40.3% | +67.4% | +295.7% | +260.5% | +320.6% | +459.6% | +166.2% | -14.1% | +27.9% | -49.2% | -40.4% | |
| Debt / EBITDA | 1.65 | — | 2.13 | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 3.14 | 3.14 | 3.54 | 3.77 | 4.08 | 4.25 | 4.36 | 5.08 | 3.77 | 3.10 | 4.29 | 5.11 | 6.88 |
| — | -26.3% | -18.7% | -25.9% | +8.2% | +37.4% | +1.6% | -0.4% | -45.2% | -27.9% | -40.4% | -32.6% | -22.2% | |
| Quick Ratio | 2.70 | 2.70 | 3.10 | 3.16 | 3.62 | 3.81 | 3.73 | 4.12 | 3.02 | 2.50 | 3.67 | 4.49 | 6.27 |
| — | -29.2% | -16.7% | -23.3% | +19.8% | +52.1% | +1.5% | -8.2% | -51.8% | -33.8% | -45.1% | -37.5% | -27.0% | |
| Interest Coverage | 1.25 | -0.66 | 19.79 | -2.98 | -7.54 | -2.27 | -3.77 | -3.15 | -8.91 | -11.42 | -18.75 | -16.41 | -23.25 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 44 years · Updated daily
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Start ComparisonApellis Pharmaceuticals, Inc.'s current P/E is 116.4x. The average P/E over the last 1 quarters is 3.3x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Apellis Pharmaceuticals, Inc.'s current operating margin is 8.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Apellis Pharmaceuticals, Inc.'s business trajectory between earnings reports.