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Side-by-side financial comparison of SHOE CARNIVAL INC (SCVL) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.

INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $297.2M, roughly 1.3× SHOE CARNIVAL INC). SHOE CARNIVAL INC runs the higher net margin — 4.9% vs -1.9%, a 6.9% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs -3.2%). Over the past eight quarters, INNOVATE Corp.'s revenue compounded faster (10.2% CAGR vs 3.0%).

Shoe Carnival Inc. is an American retailer of family footwear. The company operates 429 stores throughout the midwest, south, and southeast regions, and Puerto Rico. It was founded by David Russell in 1978 and is headquartered in Fort Mill, South Carolina as of 2025.

Innovate Corp. is an American public financial services company founded in 1994.

SCVL vs VATE — Head-to-Head

Bigger by revenue
VATE
VATE
1.3× larger
VATE
$382.7M
$297.2M
SCVL
Growing faster (revenue YoY)
VATE
VATE
+64.9% gap
VATE
61.7%
-3.2%
SCVL
Higher net margin
SCVL
SCVL
6.9% more per $
SCVL
4.9%
-1.9%
VATE
Faster 2-yr revenue CAGR
VATE
VATE
Annualised
VATE
10.2%
3.0%
SCVL

Income Statement — Q3 FY2026 vs Q4 FY2025

Metric
SCVL
SCVL
VATE
VATE
Revenue
$297.2M
$382.7M
Net Profit
$14.6M
$-7.4M
Gross Margin
37.6%
15.4%
Operating Margin
6.3%
3.7%
Net Margin
4.9%
-1.9%
Revenue YoY
-3.2%
61.7%
Net Profit YoY
-23.9%
55.4%
EPS (diluted)
$0.53
$-0.57

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.

Revenue
SCVL
SCVL
VATE
VATE
Q4 25
$297.2M
$382.7M
Q3 25
$306.4M
$347.1M
Q2 25
$277.7M
$242.0M
Q1 25
$262.9M
$274.2M
Q4 24
$306.9M
$236.6M
Q3 24
$332.7M
$242.2M
Q2 24
$300.4M
$313.1M
Q1 24
$280.2M
$315.2M
Net Profit
SCVL
SCVL
VATE
VATE
Q4 25
$14.6M
$-7.4M
Q3 25
$19.2M
$-8.9M
Q2 25
$9.3M
$-19.8M
Q1 25
$14.7M
$-24.5M
Q4 24
$19.2M
$-16.6M
Q3 24
$22.6M
$-15.0M
Q2 24
$17.3M
$14.4M
Q1 24
$15.5M
$-17.4M
Gross Margin
SCVL
SCVL
VATE
VATE
Q4 25
37.6%
15.4%
Q3 25
38.8%
14.3%
Q2 25
34.5%
18.8%
Q1 25
34.9%
16.6%
Q4 24
36.0%
19.6%
Q3 24
36.1%
19.9%
Q2 24
35.6%
21.0%
Q1 24
35.6%
15.4%
Operating Margin
SCVL
SCVL
VATE
VATE
Q4 25
6.3%
3.7%
Q3 25
8.2%
1.8%
Q2 25
4.3%
2.0%
Q1 25
5.3%
1.2%
Q4 24
8.0%
1.1%
Q3 24
9.0%
2.4%
Q2 24
7.5%
9.2%
Q1 24
7.1%
0.9%
Net Margin
SCVL
SCVL
VATE
VATE
Q4 25
4.9%
-1.9%
Q3 25
6.3%
-2.6%
Q2 25
3.4%
-8.2%
Q1 25
5.6%
-8.9%
Q4 24
6.3%
-7.0%
Q3 24
6.8%
-6.2%
Q2 24
5.8%
4.6%
Q1 24
5.5%
-5.5%
EPS (diluted)
SCVL
SCVL
VATE
VATE
Q4 25
$0.53
$-0.57
Q3 25
$0.70
$-0.71
Q2 25
$0.34
$-1.67
Q1 25
$0.53
$-1.89
Q4 24
$0.70
$-0.72
Q3 24
$0.82
$-1.18
Q2 24
$0.63
$1.03
Q1 24
$0.57
$-2.21

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
SCVL
SCVL
VATE
VATE
Cash + ST InvestmentsLiquidity on hand
$107.7M
$112.1M
Total DebtLower is stronger
$80.3M
Stockholders' EquityBook value
$683.2M
$-240.1M
Total Assets
$1.2B
$950.1M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
SCVL
SCVL
VATE
VATE
Q4 25
$107.7M
$112.1M
Q3 25
$91.9M
$35.5M
Q2 25
$93.0M
$33.4M
Q1 25
$123.1M
$33.3M
Q4 24
$91.1M
$48.8M
Q3 24
$84.5M
$51.0M
Q2 24
$69.5M
$80.2M
Q1 24
$111.2M
$38.4M
Total Debt
SCVL
SCVL
VATE
VATE
Q4 25
$80.3M
Q3 25
$97.3M
Q2 25
$160.1M
Q1 25
$139.9M
Q4 24
$500.6M
Q3 24
$502.4M
Q2 24
$638.3M
Q1 24
$641.5M
Stockholders' Equity
SCVL
SCVL
VATE
VATE
Q4 25
$683.2M
$-240.1M
Q3 25
$670.7M
$-233.3M
Q2 25
$653.6M
$-224.8M
Q1 25
$649.0M
$-204.2M
Q4 24
$635.7M
$-180.4M
Q3 24
$618.5M
$-163.1M
Q2 24
$597.8M
$-149.0M
Q1 24
$583.4M
$-184.4M
Total Assets
SCVL
SCVL
VATE
VATE
Q4 25
$1.2B
$950.1M
Q3 25
$1.2B
$913.2M
Q2 25
$1.1B
$890.9M
Q1 25
$1.1B
$868.0M
Q4 24
$1.1B
$891.1M
Q3 24
$1.1B
$897.2M
Q2 24
$1.1B
$898.9M
Q1 24
$1.0B
$943.5M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
SCVL
SCVL
VATE
VATE
Operating Cash FlowLast quarter
$33.6M
$101.1M
Free Cash FlowOCF − Capex
$19.7M
FCF MarginFCF / Revenue
6.6%
Capex IntensityCapex / Revenue
4.7%
Cash ConversionOCF / Net Profit
2.30×
TTM Free Cash FlowTrailing 4 quarters
$35.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
SCVL
SCVL
VATE
VATE
Q4 25
$33.6M
$101.1M
Q3 25
$13.3M
$19.2M
Q2 25
$-9.6M
$40.4M
Q1 25
$44.5M
$-14.1M
Q4 24
$17.3M
$41.4M
Q3 24
$23.7M
$-28.4M
Q2 24
$17.1M
$21.5M
Q1 24
$53.4M
$-25.4M
Free Cash Flow
SCVL
SCVL
VATE
VATE
Q4 25
$19.7M
Q3 25
$2.2M
$19.0M
Q2 25
$-23.0M
Q1 25
$36.2M
$-18.8M
Q4 24
$8.3M
$34.2M
Q3 24
$18.2M
$-31.5M
Q2 24
$6.9M
$18.4M
Q1 24
$40.7M
$-31.0M
FCF Margin
SCVL
SCVL
VATE
VATE
Q4 25
6.6%
Q3 25
0.7%
5.5%
Q2 25
-8.3%
Q1 25
13.8%
-6.9%
Q4 24
2.7%
14.5%
Q3 24
5.5%
-13.0%
Q2 24
2.3%
5.9%
Q1 24
14.5%
-9.8%
Capex Intensity
SCVL
SCVL
VATE
VATE
Q4 25
4.7%
Q3 25
3.6%
0.1%
Q2 25
4.8%
Q1 25
3.2%
1.7%
Q4 24
3.0%
3.0%
Q3 24
1.7%
1.3%
Q2 24
3.4%
1.0%
Q1 24
4.5%
1.8%
Cash Conversion
SCVL
SCVL
VATE
VATE
Q4 25
2.30×
Q3 25
0.69×
Q2 25
-1.03×
Q1 25
3.04×
Q4 24
0.90×
Q3 24
1.05×
Q2 24
0.99×
1.49×
Q1 24
3.44×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

SCVL
SCVL

Segment breakdown not available.

VATE
VATE

Commercial Revenue$126.1M33%
Industrial Revenue$87.5M23%
Transportation Revenue$58.4M15%
Healthcare Revenue$48.4M13%
Government Revenue$44.3M12%
Energy Revenue$8.0M2%
Broadcast Station Revenue$5.7M1%
Systems And Consumables Revenue$3.1M1%
Leisure Revenue$200.0K0%

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