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Side-by-side financial comparison of CALERES INC (CAL) and UL Solutions Inc. (ULS). Click either name above to swap in a different company.
CALERES INC is the larger business by last-quarter revenue ($790.1M vs $758.0M, roughly 1.0× UL Solutions Inc.). UL Solutions Inc. runs the higher net margin — 12.8% vs 0.3%, a 12.5% gap on every dollar of revenue. On growth, UL Solutions Inc. posted the faster year-over-year revenue change (7.5% vs 6.6%). UL Solutions Inc. produced more free cash flow last quarter ($150.0M vs $-12.4M). Over the past eight quarters, CALERES INC's revenue compounded faster (6.5% CAGR vs 1.9%).
Caleres Inc. is an American footwear company that owns and operates a variety of footwear brands. Its headquarters is located in Clayton, Missouri, a suburb of St. Louis. The company was founded in 1878 as Bryan, Brown & Company in St. Louis, though it underwent several name changes. The Hamilton-Brown Shoe Company was the largest manufacturer of shoes in America in the early 20th century, but it went bankrupt in June 1939.
The UL enterprise is a global private safety company headquartered in Northbrook, Illinois, composed of three organizations, UL Research Institutes, UL Standards & Engagement and UL Solutions.
CAL vs ULS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $790.1M | $758.0M |
| Net Profit | $2.4M | $97.0M |
| Gross Margin | 41.8% | 50.3% |
| Operating Margin | 1.5% | 18.2% |
| Net Margin | 0.3% | 12.8% |
| Revenue YoY | 6.6% | 7.5% |
| Net Profit YoY | -94.2% | 37.3% |
| EPS (diluted) | $0.07 | $0.45 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $758.0M | ||
| Q4 25 | $790.1M | $789.0M | ||
| Q3 25 | $658.5M | $783.0M | ||
| Q2 25 | $614.2M | $776.0M | ||
| Q1 25 | $639.2M | $705.0M | ||
| Q4 24 | $740.9M | $739.0M | ||
| Q3 24 | $683.3M | $731.0M | ||
| Q2 24 | $659.2M | $730.0M |
| Q1 26 | — | $97.0M | ||
| Q4 25 | $2.4M | $67.0M | ||
| Q3 25 | $6.7M | $100.0M | ||
| Q2 25 | $6.9M | $91.0M | ||
| Q1 25 | $4.9M | $67.0M | ||
| Q4 24 | $41.4M | $81.0M | ||
| Q3 24 | $30.0M | $88.0M | ||
| Q2 24 | $30.9M | $101.0M |
| Q1 26 | — | 50.3% | ||
| Q4 25 | 41.8% | 49.7% | ||
| Q3 25 | 43.4% | 50.3% | ||
| Q2 25 | 45.4% | 49.4% | ||
| Q1 25 | 43.0% | 48.4% | ||
| Q4 24 | 44.1% | 47.4% | ||
| Q3 24 | 45.5% | 49.0% | ||
| Q2 24 | 46.9% | 50.1% |
| Q1 26 | — | 18.2% | ||
| Q4 25 | 1.5% | 15.0% | ||
| Q3 25 | 1.4% | 19.9% | ||
| Q2 25 | 1.9% | 17.9% | ||
| Q1 25 | 1.2% | 15.5% | ||
| Q4 24 | 7.7% | 15.6% | ||
| Q3 24 | 6.2% | 17.8% | ||
| Q2 24 | 6.5% | 17.3% |
| Q1 26 | — | 12.8% | ||
| Q4 25 | 0.3% | 8.5% | ||
| Q3 25 | 1.0% | 12.8% | ||
| Q2 25 | 1.1% | 11.7% | ||
| Q1 25 | 0.8% | 9.5% | ||
| Q4 24 | 5.6% | 11.0% | ||
| Q3 24 | 4.4% | 12.0% | ||
| Q2 24 | 4.7% | 13.8% |
| Q1 26 | — | $0.45 | ||
| Q4 25 | $0.07 | $0.33 | ||
| Q3 25 | $0.20 | $0.49 | ||
| Q2 25 | $0.21 | $0.45 | ||
| Q1 25 | $0.17 | $0.33 | ||
| Q4 24 | $1.19 | $0.40 | ||
| Q3 24 | $0.85 | $0.44 | ||
| Q2 24 | $0.88 | $0.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.0M | $258.0M |
| Total DebtLower is stronger | — | $357.0M |
| Stockholders' EquityBook value | $616.8M | $1.3B |
| Total Assets | $2.1B | $3.0B |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $258.0M | ||
| Q4 25 | $34.0M | $295.0M | ||
| Q3 25 | $191.5M | $255.0M | ||
| Q2 25 | $33.1M | $272.0M | ||
| Q1 25 | $29.6M | $267.0M | ||
| Q4 24 | $33.7M | $298.0M | ||
| Q3 24 | $51.8M | $327.0M | ||
| Q2 24 | $30.7M | $295.0M |
| Q1 26 | — | $357.0M | ||
| Q4 25 | — | $491.0M | ||
| Q3 25 | — | $544.0M | ||
| Q2 25 | — | $608.0M | ||
| Q1 25 | — | $653.0M | ||
| Q4 24 | — | $742.0M | ||
| Q3 24 | — | $797.0M | ||
| Q2 24 | — | $810.0M |
| Q1 26 | — | $1.3B | ||
| Q4 25 | $616.8M | $1.3B | ||
| Q3 25 | $613.3M | $1.2B | ||
| Q2 25 | $605.2M | $1.1B | ||
| Q1 25 | $599.0M | $970.0M | ||
| Q4 24 | $598.3M | $904.0M | ||
| Q3 24 | $606.1M | $872.0M | ||
| Q2 24 | $570.3M | $769.0M |
| Q1 26 | — | $3.0B | ||
| Q4 25 | $2.1B | $2.9B | ||
| Q3 25 | $2.2B | $2.9B | ||
| Q2 25 | $1.9B | $2.9B | ||
| Q1 25 | $1.9B | $2.9B | ||
| Q4 24 | $2.0B | $2.8B | ||
| Q3 24 | $2.0B | $2.9B | ||
| Q2 24 | $1.9B | $2.7B |
| Q1 26 | — | 0.27× | ||
| Q4 25 | — | 0.39× | ||
| Q3 25 | — | 0.46× | ||
| Q2 25 | — | 0.56× | ||
| Q1 25 | — | 0.67× | ||
| Q4 24 | — | 0.82× | ||
| Q3 24 | — | 0.91× | ||
| Q2 24 | — | 1.05× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-1.2M | $219.0M |
| Free Cash FlowOCF − Capex | $-12.4M | $150.0M |
| FCF MarginFCF / Revenue | -1.6% | 19.8% |
| Capex IntensityCapex / Revenue | 1.4% | 9.1% |
| Cash ConversionOCF / Net Profit | -0.50× | 2.26× |
| TTM Free Cash FlowTrailing 4 quarters | $14.4M | $450.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $219.0M | ||
| Q4 25 | $-1.2M | $144.0M | ||
| Q3 25 | $47.3M | $155.0M | ||
| Q2 25 | $-5.7M | $147.0M | ||
| Q1 25 | $28.7M | $154.0M | ||
| Q4 24 | $-39.8M | $130.0M | ||
| Q3 24 | $79.6M | $150.0M | ||
| Q2 24 | $36.1M | $103.0M |
| Q1 26 | — | $150.0M | ||
| Q4 25 | $-12.4M | $86.0M | ||
| Q3 25 | $35.0M | $109.0M | ||
| Q2 25 | $-26.2M | $105.0M | ||
| Q1 25 | $18.0M | $103.0M | ||
| Q4 24 | $-57.4M | $72.0M | ||
| Q3 24 | $68.5M | $84.0M | ||
| Q2 24 | $26.3M | $47.0M |
| Q1 26 | — | 19.8% | ||
| Q4 25 | -1.6% | 10.9% | ||
| Q3 25 | 5.3% | 13.9% | ||
| Q2 25 | -4.3% | 13.5% | ||
| Q1 25 | 2.8% | 14.6% | ||
| Q4 24 | -7.7% | 9.7% | ||
| Q3 24 | 10.0% | 11.5% | ||
| Q2 24 | 4.0% | 6.4% |
| Q1 26 | — | 9.1% | ||
| Q4 25 | 1.4% | 7.4% | ||
| Q3 25 | 1.9% | 5.9% | ||
| Q2 25 | 3.3% | 5.4% | ||
| Q1 25 | 1.7% | 7.2% | ||
| Q4 24 | 2.4% | 7.8% | ||
| Q3 24 | 1.6% | 9.0% | ||
| Q2 24 | 1.5% | 7.7% |
| Q1 26 | — | 2.26× | ||
| Q4 25 | -0.50× | 2.15× | ||
| Q3 25 | 7.05× | 1.55× | ||
| Q2 25 | -0.81× | 1.62× | ||
| Q1 25 | 5.82× | 2.30× | ||
| Q4 24 | -0.96× | 1.60× | ||
| Q3 24 | 2.66× | 1.70× | ||
| Q2 24 | 1.17× | 1.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CAL
| Brand Portfolio | $383.7M | 49% |
| Landed Wholesale | $148.1M | 19% |
| Wholesale E Commerce | $75.0M | 9% |
| Ecommerce | $68.8M | 9% |
| Stuart Weitzman Brand | $45.8M | 6% |
| Landed Wholesale Ecommerce Drop Ship | $30.6M | 4% |
| First Cost Wholesale | $14.9M | 2% |
| Clt Brand Solutions | $10.2M | 1% |
| License And Royalty | $2.1M | 0% |
ULS
Segment breakdown not available.
