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CALERES INC（CAL）与Maplebear Inc.（CART）财务数据对比。点击上方公司名可切换其他公司
Maplebear Inc.的季度营收约是CALERES INC的1.3倍（$992.0M vs $790.1M），Maplebear Inc.净利率更高（8.2% vs 0.3%，领先7.9%），Maplebear Inc.同比增速更快（12.3% vs 6.6%），Maplebear Inc.自由现金流更多（$171.0M vs $-12.4M），过去两年Maplebear Inc.的营收复合增速更高（10.0% vs 6.5%）
Caleres Inc是一家美国鞋履企业，旗下拥有并运营多个鞋履品牌，总部坐落于圣路易斯郊区密苏里州克莱顿。该企业前身是1878年在圣路易斯成立的Bryan, Brown & Company，此后历经多次更名，其前身汉密尔顿-布朗鞋业在20世纪初曾是美国最大的鞋履制造商。
Maplebear Inc. 以Instacart为品牌开展业务，是总部位于美国旧金山的零售媒体及配送企业，在美国和加拿大运营生鲜杂货配送与自提服务。用户可通过官网及移动应用从合作商户订购食品杂货，在法律允许的地区还可选购酒类商品，所有订单由专属采购专员负责拣选、打包并配送上门。
CAL vs CART — 直观对比
营收规模更大
CART
是对方的1.3倍
$790.1M
营收增速更快
CART
高出5.7%
6.6%
净利率更高
CART
高出7.9%
0.3%
自由现金流更多
CART
多$183.4M
$-12.4M
两年增速更快
CART
近两年复合增速
6.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $790.1M | $992.0M |
| 净利润 | $2.4M | $81.0M |
| 毛利率 | 41.8% | 72.3% |
| 营业利润率 | 1.5% | 9.9% |
| 净利率 | 0.3% | 8.2% |
| 营收同比 | 6.6% | 12.3% |
| 净利润同比 | -94.2% | -45.3% |
| 每股收益（稀释后） | $0.07 | $0.31 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收CALCART
| Q4 25 | $790.1M | $992.0M | ||
| Q3 25 | $658.5M | $939.0M | ||
| Q2 25 | $614.2M | $914.0M | ||
| Q1 25 | $639.2M | $897.0M | ||
| Q4 24 | $740.9M | $883.0M | ||
| Q3 24 | $683.3M | $852.0M | ||
| Q2 24 | $659.2M | $823.0M | ||
| Q1 24 | $697.1M | $820.0M |
净利润CALCART
| Q4 25 | $2.4M | $81.0M | ||
| Q3 25 | $6.7M | $144.0M | ||
| Q2 25 | $6.9M | $116.0M | ||
| Q1 25 | $4.9M | $106.0M | ||
| Q4 24 | $41.4M | $148.0M | ||
| Q3 24 | $30.0M | $118.0M | ||
| Q2 24 | $30.9M | $61.0M | ||
| Q1 24 | $55.7M | $130.0M |
毛利率CALCART
| Q4 25 | 41.8% | 72.3% | ||
| Q3 25 | 43.4% | 73.7% | ||
| Q2 25 | 45.4% | 74.2% | ||
| Q1 25 | 43.0% | 74.8% | ||
| Q4 24 | 44.1% | 75.2% | ||
| Q3 24 | 45.5% | 75.2% | ||
| Q2 24 | 46.9% | 75.7% | ||
| Q1 24 | 43.9% | 74.9% |
营业利润率CALCART
| Q4 25 | 1.5% | 9.9% | ||
| Q3 25 | 1.4% | 17.7% | ||
| Q2 25 | 1.9% | 13.6% | ||
| Q1 25 | 1.2% | 12.3% | ||
| Q4 24 | 7.7% | 17.6% | ||
| Q3 24 | 6.2% | 16.2% | ||
| Q2 24 | 6.5% | 6.3% | ||
| Q1 24 | 4.4% | 17.6% |
净利率CALCART
| Q4 25 | 0.3% | 8.2% | ||
| Q3 25 | 1.0% | 15.3% | ||
| Q2 25 | 1.1% | 12.7% | ||
| Q1 25 | 0.8% | 11.8% | ||
| Q4 24 | 5.6% | 16.8% | ||
| Q3 24 | 4.4% | 13.8% | ||
| Q2 24 | 4.7% | 7.4% | ||
| Q1 24 | 8.0% | 15.9% |
每股收益（稀释后）CALCART
| Q4 25 | $0.07 | $0.31 | ||
| Q3 25 | $0.20 | $0.51 | ||
| Q2 25 | $0.21 | $0.41 | ||
| Q1 25 | $0.17 | $0.37 | ||
| Q4 24 | $1.19 | $0.53 | ||
| Q3 24 | $0.85 | $0.42 | ||
| Q2 24 | $0.88 | $0.20 | ||
| Q1 24 | $1.56 | $0.43 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $34.0M | $687.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $616.8M | $2.5B |
| 总资产 | $2.1B | $3.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资CALCART
| Q4 25 | $34.0M | $687.0M | ||
| Q3 25 | $191.5M | $1.7B | ||
| Q2 25 | $33.1M | $1.6B | ||
| Q1 25 | $29.6M | $1.6B | ||
| Q4 24 | $33.7M | $1.4B | ||
| Q3 24 | $51.8M | $1.3B | ||
| Q2 24 | $30.7M | $1.4B | ||
| Q1 24 | $21.4M | $1.5B |
股东权益CALCART
| Q4 25 | $616.8M | $2.5B | ||
| Q3 25 | $613.3M | $3.5B | ||
| Q2 25 | $605.2M | $3.3B | ||
| Q1 25 | $599.0M | $3.2B | ||
| Q4 24 | $598.3M | $3.1B | ||
| Q3 24 | $606.1M | $2.9B | ||
| Q2 24 | $570.3M | $3.0B | ||
| Q1 24 | $560.6M | $3.1B |
总资产CALCART
| Q4 25 | $2.1B | $3.7B | ||
| Q3 25 | $2.2B | $4.5B | ||
| Q2 25 | $1.9B | $4.4B | ||
| Q1 25 | $1.9B | $4.3B | ||
| Q4 24 | $2.0B | $4.1B | ||
| Q3 24 | $2.0B | $3.9B | ||
| Q2 24 | $1.9B | $4.0B | ||
| Q1 24 | $1.8B | $4.1B |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-1.2M | $183.0M |
| 自由现金流经营现金流 - 资本支出 | $-12.4M | $171.0M |
| 自由现金流率自由现金流/营收 | -1.6% | 17.2% |
| 资本支出强度资本支出/营收 | 1.4% | 1.2% |
| 现金转化率经营现金流/净利润 | -0.50× | 2.26× |
| 过去12个月自由现金流最近4个季度 | $14.4M | $910.0M |
8季度趋势，按日历期对齐
经营现金流CALCART
| Q4 25 | $-1.2M | $183.0M | ||
| Q3 25 | $47.3M | $287.0M | ||
| Q2 25 | $-5.7M | $203.0M | ||
| Q1 25 | $28.7M | $298.0M | ||
| Q4 24 | $-39.8M | $153.0M | ||
| Q3 24 | $79.6M | $185.0M | ||
| Q2 24 | $36.1M | $244.0M | ||
| Q1 24 | $43.0M | $105.0M |
自由现金流CALCART
| Q4 25 | $-12.4M | $171.0M | ||
| Q3 25 | $35.0M | $272.0M | ||
| Q2 25 | $-26.2M | $187.0M | ||
| Q1 25 | $18.0M | $280.0M | ||
| Q4 24 | $-57.4M | $141.0M | ||
| Q3 24 | $68.5M | $171.0M | ||
| Q2 24 | $26.3M | $220.0M | ||
| Q1 24 | $32.4M | $91.0M |
自由现金流率CALCART
| Q4 25 | -1.6% | 17.2% | ||
| Q3 25 | 5.3% | 29.0% | ||
| Q2 25 | -4.3% | 20.5% | ||
| Q1 25 | 2.8% | 31.2% | ||
| Q4 24 | -7.7% | 16.0% | ||
| Q3 24 | 10.0% | 20.1% | ||
| Q2 24 | 4.0% | 26.7% | ||
| Q1 24 | 4.6% | 11.1% |
资本支出强度CALCART
| Q4 25 | 1.4% | 1.2% | ||
| Q3 25 | 1.9% | 1.6% | ||
| Q2 25 | 3.3% | 1.8% | ||
| Q1 25 | 1.7% | 2.0% | ||
| Q4 24 | 2.4% | 1.4% | ||
| Q3 24 | 1.6% | 1.6% | ||
| Q2 24 | 1.5% | 2.9% | ||
| Q1 24 | 1.5% | 1.7% |
现金转化率CALCART
| Q4 25 | -0.50× | 2.26× | ||
| Q3 25 | 7.05× | 1.99× | ||
| Q2 25 | -0.81× | 1.75× | ||
| Q1 25 | 5.82× | 2.81× | ||
| Q4 24 | -0.96× | 1.03× | ||
| Q3 24 | 2.66× | 1.57× | ||
| Q2 24 | 1.17× | 4.00× | ||
| Q1 24 | 0.77× | 0.81× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
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% |
CART
| Transaction | $698.0M | 70% |
| Advertising And Other | $294.0M | 30% |
