APLS Fundamental Analysis - APELLIS PHARMACEUTICALS INC

Fundamental Rating

We assign a fundamental rating of 3 out of 10 to APLS. APLS was compared to 538 industry peers in the Biotechnology industry. While APLS seems to be doing ok healthwise, there are quite some concerns on its profitability. APLS is quite expensive at the moment. It does show a decent growth rate.

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1. Profitability

1.1 Basic Checks

In the past year APLS has reported negative net income.

APLS had a positive operating cash flow in the past year.

In the past 5 years APLS always reported negative net income.

In the past 5 years APLS always reported negative operating cash flow.

1.2 Ratios

With a decent Return On Assets value of -27.78%, APLS is doing good in the industry, outperforming 69.52% of the companies in the same industry.

With a Return On Equity value of -145.98%, APLS is not doing good in the industry: 62.27% of the companies in the same industry are doing better.

		Industry Rank	Sector Rank
ROA	-27.78%
ROE	-145.98%
ROIC	N/A

ROA(3y)-58.39%

ROA(5y)-59.14%

ROE(3y)-247.4%

ROE(5y)-257.29%

ROIC(3y)N/A

ROIC(5y)N/A

1.3 Margins

Looking at the Gross Margin, with a value of 83.78%, APLS belongs to the top of the industry, outperforming 86.80% of the companies in the same industry.

APLS's Gross Margin has declined in the last couple of years.

The Profit Margin and Operating Margin are not available for APLS so they could not be analyzed.

		Industry Rank	Sector Rank
OM	N/A
PM (TTM)	N/A
GM	83.78%

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-2.7%

GM growth 5YN/A

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ROA

ROE

ROIC

Operating and Profit Margin

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2. Health

2.1 Basic Checks

APLS does not have a ROIC to compare to the WACC, probably because it is not profitable.

The number of shares outstanding for APLS has been increased compared to 1 year ago.

Compared to 5 years ago, APLS has more shares outstanding

Compared to 1 year ago, APLS has an improved debt to assets ratio.

2.2 Solvency

Based on the Altman-Z score of -1.79, we must say that APLS is in the distress zone and has some risk of bankruptcy.

APLS has a Altman-Z score of -1.79. This is comparable to the rest of the industry: APLS outperforms 53.72% of its industry peers.

The Debt to FCF ratio of APLS is 102.86, which is on the high side as it means it would take APLS, 102.86 years of fcf income to pay off all of its debts.

With an excellent Debt to FCF ratio value of 102.86, APLS belongs to the best of the industry, outperforming 90.89% of the companies in the same industry.

A Debt/Equity ratio of 2.90 is on the high side and indicates that APLS has dependencies on debt financing.

APLS's Debt to Equity ratio of 2.90 is on the low side compared to the rest of the industry. APLS is outperformed by 81.04% of its industry peers.

		Industry Rank	Sector Rank
Debt/Equity	2.9
Debt/FCF	102.86
Altman-Z	-1.79

ROIC/WACCN/A

WACC9.87%

2.3 Liquidity

A Current Ratio of 3.77 indicates that APLS has no problem at all paying its short term obligations.

APLS has a Current ratio of 3.77. This is comparable to the rest of the industry: APLS outperforms 43.87% of its industry peers.

APLS has a Quick Ratio of 3.16. This indicates that APLS is financially healthy and has no problem in meeting its short term obligations.

With a Quick ratio value of 3.16, APLS perfoms like the industry average, outperforming 40.71% of the companies in the same industry.

		Industry Rank	Sector Rank
Current Ratio	3.77
Quick Ratio	3.16

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WACC

Debt/Equity

How to determine the health of a company

Altman-Z score

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3. Growth

3.1 Past

APLS shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 30.00%, which is quite impressive.

The Revenue has grown by 20.02% in the past year. This is a very strong growth!

Measured over the past years, APLS shows a very strong growth in Revenue. The Revenue has been growing by 127.23% on average per year.

EPS 1Y (TTM)30%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-17.86%

Revenue 1Y (TTM)20.02%

Revenue growth 3Y127.23%

Revenue growth 5YN/A

Sales Q2Q%-10.61%

3.2 Future

APLS is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 29.06% yearly.

APLS is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 14.92% yearly.

EPS Next Y45.53%

EPS Next 2Y16.42%

EPS Next 3Y31.08%

EPS Next 5Y29.06%

Revenue Next Year21.97%

Revenue Next 2Y8.74%

Revenue Next 3Y12.91%

Revenue Next 5Y14.92%

3.3 Evolution

The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.

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4. Valuation

4.1 Price/Earnings Ratio

APLS reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.

Also next year APLS is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A

4.2 Price Multiples

Based on the Price/Free Cash Flow ratio, APLS is valued cheaply inside the industry as 90.89% of the companies are valued more expensively.

		Industry Rank	Sector Rank
P/FCF	663.49
EV/EBITDA	N/A

4.3 Compensation for Growth

A more expensive valuation may be justified as APLS's earnings are expected to grow with 31.08% in the coming years.

PEG (NY)N/A

PEG (5Y)N/A

EPS Next 2Y16.42%

EPS Next 3Y31.08%

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5. Dividend

5.1 Amount

No dividends for APLS!.

		Industry Rank	Sector Rank
Dividend Yield	N/A

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APELLIS PHARMACEUTICALS INC

NASDAQ:APLS (9/23/2025, 8:00:01 PM)

After market: 23.19 0 (0%)

23.19

-0.3 (-1.28%)

Chartmill FA Rating

GICS SectorHealth Care

GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences

GICS IndustryBiotechnology

Earnings (Last)07-31 2025-07-31/bmo

Earnings (Next)11-03 2025-11-03/bmo

Inst Owners102.53%

Inst Owner Change2.26%

Ins Owners3.74%

Ins Owner Change0.06%

Market Cap2.93B

Analysts78.52

Price Target38.53 (66.15%)

Short Float %19.17%

Short Ratio8.4

Dividend

		Industry Rank	Sector Rank
Dividend Yield	N/A

Yearly DividendN/A

Dividend Growth(5Y)N/A

DPN/A

Div Incr Years0

Div Non Decr Years0

Ex-DateN/A

Surprises & Revisions

EPS beat(2)1

Avg EPS beat(2)-35.16%

Min EPS beat(2)-101.36%

Max EPS beat(2)31.03%

EPS beat(4)2

Avg EPS beat(4)-23.58%

Min EPS beat(4)-101.36%

Max EPS beat(4)31.03%

EPS beat(8)4

Avg EPS beat(8)-13.22%

EPS beat(12)6

Avg EPS beat(12)-8.14%

EPS beat(16)6

Avg EPS beat(16)-8.9%

Revenue beat(2)0

Avg Revenue beat(2)-11.79%

Min Revenue beat(2)-16.4%

Max Revenue beat(2)-7.17%

Revenue beat(4)1

Avg Revenue beat(4)-5.55%

Min Revenue beat(4)-16.4%

Max Revenue beat(4)5.05%

Revenue beat(8)4

Avg Revenue beat(8)-0.89%

Revenue beat(12)7

Avg Revenue beat(12)7.11%

Revenue beat(16)9

Avg Revenue beat(16)40.14%

PT rev (1m)2.54%

PT rev (3m)6.81%

EPS NQ rev (1m)15.66%

EPS NQ rev (3m)244.6%

EPS NY rev (1m)0%

EPS NY rev (3m)60.36%

Revenue NQ rev (1m)-0.17%

Revenue NQ rev (3m)75.17%

Revenue NY rev (1m)1.26%

Revenue NY rev (3m)20.89%

Valuation

		Industry Rank	Sector Rank
PE	N/A
Fwd PE	N/A
P/S	3.88
P/FCF	663.49
P/OCF	652.12
P/B	18.74
P/tB	18.74
EV/EBITDA	N/A

EPS(TTM)-1.82

EYN/A

EPS(NY)-0.93

Fwd EYN/A

FCF(TTM)0.03

FCFY0.15%

OCF(TTM)0.04

OCFY0.15%

SpS5.98

BVpS1.24

TBVpS1.24

PEG (NY)N/A

PEG (5Y)N/A

Profitability

		Industry Rank	Sector Rank
ROA	-27.78%
ROE	-145.98%
ROCE	N/A
ROIC	N/A
ROICexc	N/A
ROICexgc	N/A
OM	N/A
PM (TTM)	N/A
GM	83.78%
FCFM	0.58%

ROA(3y)-58.39%

ROA(5y)-59.14%

ROE(3y)-247.4%

ROE(5y)-257.29%

ROIC(3y)N/A

ROIC(5y)N/A

ROICexc(3y)N/A

ROICexc(5y)N/A

ROICexgc(3y)N/A

ROICexgc(5y)N/A

ROCE(3y)N/A

ROCE(5y)N/A

ROICexcg growth 3YN/A

ROICexcg growth 5YN/A

ROICexc growth 3YN/A

ROICexc growth 5YN/A

OM growth 3YN/A

OM growth 5YN/A

PM growth 3YN/A

PM growth 5YN/A

GM growth 3Y-2.7%

GM growth 5YN/A

F-Score4

Asset Turnover0.92

Health

		Industry Rank	Sector Rank
Debt/Equity	2.9
Debt/FCF	102.86
Debt/EBITDA	N/A
Cap/Depr	4.29%
Cap/Sales	0.01%
Interest Coverage	N/A
Cash Conversion	N/A
Profit Quality	N/A
Current Ratio	3.77
Quick Ratio	3.16
Altman-Z	-1.79

F-Score4

WACC9.87%

ROIC/WACCN/A

Cap/Depr(3y)54.61%

Cap/Depr(5y)218.08%

Cap/Sales(3y)0.75%

Cap/Sales(5y)1.22%

Profit Quality(3y)N/A

Profit Quality(5y)N/A

High Growth Momentum

Growth

EPS 1Y (TTM)30%

EPS 3YN/A

EPS 5YN/A

EPS Q2Q%-17.86%

EPS Next Y45.53%

EPS Next 2Y16.42%

EPS Next 3Y31.08%

EPS Next 5Y29.06%

Revenue 1Y (TTM)20.02%

Revenue growth 3Y127.23%

Revenue growth 5YN/A

Sales Q2Q%-10.61%

Revenue Next Year21.97%

Revenue Next 2Y8.74%

Revenue Next 3Y12.91%

Revenue Next 5Y14.92%

EBIT growth 1Y39.31%

EBIT growth 3YN/A

EBIT growth 5YN/A

EBIT Next Year41.7%

EBIT Next 3Y50.05%

EBIT Next 5Y35.88%

FCF growth 1Y100.71%

FCF growth 3YN/A

FCF growth 5YN/A

OCF growth 1Y100.72%

OCF growth 3YN/A

OCF growth 5YN/A

APELLIS PHARMACEUTICALS INC (APLS) Stock Fundamental Analysis

1. Profitability

1.1 Basic Checks

1.2 Ratios

1.3 Margins

More info and screens

2. Health

2.1 Basic Checks

2.2 Solvency

2.3 Liquidity

More info and screens

3. Growth

3.1 Past

3.2 Future

3.3 Evolution

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4. Valuation

4.1 Price/Earnings Ratio

4.2 Price Multiples

4.3 Compensation for Growth

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5. Dividend

5.1 Amount

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