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CALERES INC（CAL）与Paychex（PAYX）财务数据对比。点击上方公司名可切换其他公司
Paychex的季度营收约是CALERES INC的1.9倍（$1.5B vs $790.1M），Paychex净利率更高（26.3% vs 0.3%，领先26.0%），Paychex同比增速更快（17.4% vs 6.6%），Paychex自由现金流更多（$382.8M vs $-12.4M），过去两年CALERES INC的营收复合增速更高（6.5% vs 3.8%）
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。
Paychex是美国知名人力资源服务提供商，1971年成立，总部位于纽约州罗切斯特，面向中小微企业提供薪资管理、人力资源外包、员工福利外包等服务。目前在美欧地区拥有超100个办事处，服务约80万家薪资客户，位列《财富》500强第681位。
CAL vs PAYX — 直观对比
营收规模更大
PAYX
是对方的1.9倍
$790.1M
营收增速更快
PAYX
高出10.7%
6.6%
净利率更高
PAYX
高出26.0%
0.3%
自由现金流更多
PAYX
多$395.2M
$-12.4M
两年增速更快
CAL
近两年复合增速
3.8%
损益表 — Q3 FY2026 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $790.1M | $1.5B |
| 净利润 | $2.4M | $395.4M |
| 毛利率 | 41.8% | 72.6% |
| 营业利润率 | 1.5% | 38.0% |
| 净利率 | 0.3% | 26.3% |
| 营收同比 | 6.6% | 17.4% |
| 净利润同比 | -94.2% | -4.4% |
| 每股收益（稀释后） | $0.07 | $1.10 |
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CALPAYX
| Q4 25 | $790.1M | $1.5B | ||
| Q3 25 | $658.5M | $1.5B | ||
| Q2 25 | $614.2M | $1.4B | ||
| Q1 25 | $639.2M | $1.5B | ||
| Q4 24 | $740.9M | $1.3B | ||
| Q3 24 | $683.3M | $1.3B | ||
| Q2 24 | $659.2M | $1.3B | ||
| Q1 24 | $697.1M | $1.4B |
净利润CALPAYX
| Q4 25 | $2.4M | $395.4M | ||
| Q3 25 | $6.7M | $383.8M | ||
| Q2 25 | $6.9M | $297.2M | ||
| Q1 25 | $4.9M | $519.3M | ||
| Q4 24 | $41.4M | $413.4M | ||
| Q3 24 | $30.0M | $427.4M | ||
| Q2 24 | $30.9M | $379.9M | ||
| Q1 24 | $55.7M | $498.6M |
毛利率CALPAYX
| Q4 25 | 41.8% | 72.6% | ||
| Q3 25 | 43.4% | 72.3% | ||
| Q2 25 | 45.4% | 71.5% | ||
| Q1 25 | 43.0% | 73.6% | ||
| Q4 24 | 44.1% | 70.4% | ||
| Q3 24 | 45.5% | 70.3% | ||
| Q2 24 | 46.9% | 70.1% | ||
| Q1 24 | 43.9% | 72.8% |
营业利润率CALPAYX
| Q4 25 | 1.5% | 38.0% | ||
| Q3 25 | 1.4% | 36.3% | ||
| Q2 25 | 1.9% | 31.2% | ||
| Q1 25 | 1.2% | 47.2% | ||
| Q4 24 | 7.7% | 42.0% | ||
| Q3 24 | 6.2% | 42.7% | ||
| Q2 24 | 6.5% | 38.3% | ||
| Q1 24 | 4.4% | 46.6% |
净利率CALPAYX
| Q4 25 | 0.3% | 26.3% | ||
| Q3 25 | 1.0% | 25.7% | ||
| Q2 25 | 1.1% | 21.5% | ||
| Q1 25 | 0.8% | 35.4% | ||
| Q4 24 | 5.6% | 32.3% | ||
| Q3 24 | 4.4% | 33.4% | ||
| Q2 24 | 4.7% | 30.2% | ||
| Q1 24 | 8.0% | 35.7% |
每股收益（稀释后）CALPAYX
| Q4 25 | $0.07 | $1.10 | ||
| Q3 25 | $0.20 | $1.06 | ||
| Q2 25 | $0.21 | $0.83 | ||
| Q1 25 | $0.17 | $1.43 | ||
| Q4 24 | $1.19 | $1.14 | ||
| Q3 24 | $0.85 | $1.18 | ||
| Q2 24 | $0.88 | $1.05 | ||
| Q1 24 | $1.56 | $1.38 |
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 | $1.5B |
| 总债务越低越好 | — | $5.0B |
| 股东权益账面价值 | $616.8M | $3.9B |
| 总资产 | $2.1B | $16.5B |
| 负债/权益比越低杠杆越低 | — | 1.28× |
8季度趋势，按日历期对齐
现金及短期投资CALPAYX
| Q4 25 | $34.0M | $1.5B | ||
| Q3 25 | $191.5M | $1.7B | ||
| Q2 25 | $33.1M | $1.7B | ||
| Q1 25 | $29.6M | $1.6B | ||
| Q4 24 | $33.7M | $1.2B | ||
| Q3 24 | $51.8M | $1.5B | ||
| Q2 24 | $30.7M | $1.5B | ||
| Q1 24 | $21.4M | $1.7B |
总债务CALPAYX
| Q4 25 | — | $5.0B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $4.9B | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $798.6M | ||
| Q1 24 | — | — |
股东权益CALPAYX
| Q4 25 | $616.8M | $3.9B | ||
| Q3 25 | $613.3M | $4.0B | ||
| Q2 25 | $605.2M | $4.1B | ||
| Q1 25 | $599.0M | $4.1B | ||
| Q4 24 | $598.3M | $3.9B | ||
| Q3 24 | $606.1M | $3.9B | ||
| Q2 24 | $570.3M | $3.8B | ||
| Q1 24 | $560.6M | $3.7B |
总资产CALPAYX
| Q4 25 | $2.1B | $16.5B | ||
| Q3 25 | $2.2B | $16.7B | ||
| Q2 25 | $1.9B | $16.6B | ||
| Q1 25 | $1.9B | $11.2B | ||
| Q4 24 | $2.0B | $10.6B | ||
| Q3 24 | $2.0B | $10.5B | ||
| Q2 24 | $1.9B | $10.4B | ||
| Q1 24 | $1.8B | $13.0B |
负债/权益比CALPAYX
| Q4 25 | — | 1.28× | ||
| Q3 25 | — | 1.25× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.21× | ||
| Q1 24 | — | — |
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 | $444.9M |
| 自由现金流经营现金流 - 资本支出 | $-12.4M | $382.8M |
| 自由现金流率自由现金流/营收 | -1.6% | 25.5% |
| 资本支出强度资本支出/营收 | 1.4% | 4.1% |
| 现金转化率经营现金流/净利润 | -0.50× | 1.13× |
| 过去12个月自由现金流最近4个季度 | $14.4M | $2.0B |
8季度趋势，按日历期对齐
经营现金流CALPAYX
| Q4 25 | $-1.2M | $444.9M | ||
| Q3 25 | $47.3M | $718.4M | ||
| Q2 25 | $-5.7M | $343.8M | ||
| Q1 25 | $28.7M | $716.0M | ||
| Q4 24 | $-39.8M | $295.0M | ||
| Q3 24 | $79.6M | $546.1M | ||
| Q2 24 | $36.1M | $221.7M | ||
| Q1 24 | $43.0M | $671.7M |
自由现金流CALPAYX
| Q4 25 | $-12.4M | $382.8M | ||
| Q3 25 | $35.0M | $662.5M | ||
| Q2 25 | $-26.2M | $283.3M | ||
| Q1 25 | $18.0M | $667.3M | ||
| Q4 24 | $-57.4M | $248.0M | ||
| Q3 24 | $68.5M | $510.5M | ||
| Q2 24 | $26.3M | $180.4M | ||
| Q1 24 | $32.4M | $631.0M |
自由现金流率CALPAYX
| Q4 25 | -1.6% | 25.5% | ||
| Q3 25 | 5.3% | 44.4% | ||
| Q2 25 | -4.3% | 20.5% | ||
| Q1 25 | 2.8% | 45.5% | ||
| Q4 24 | -7.7% | 19.4% | ||
| Q3 24 | 10.0% | 39.9% | ||
| Q2 24 | 4.0% | 14.4% | ||
| Q1 24 | 4.6% | 45.2% |
资本支出强度CALPAYX
| Q4 25 | 1.4% | 4.1% | ||
| Q3 25 | 1.9% | 3.7% | ||
| Q2 25 | 3.3% | 4.4% | ||
| Q1 25 | 1.7% | 3.3% | ||
| Q4 24 | 2.4% | 3.7% | ||
| Q3 24 | 1.6% | 2.8% | ||
| Q2 24 | 1.5% | 3.3% | ||
| Q1 24 | 1.5% | 2.9% |
现金转化率CALPAYX
| Q4 25 | -0.50× | 1.13× | ||
| Q3 25 | 7.05× | 1.87× | ||
| Q2 25 | -0.81× | 1.16× | ||
| Q1 25 | 5.82× | 1.38× | ||
| Q4 24 | -0.96× | 0.71× | ||
| Q3 24 | 2.66× | 1.28× | ||
| Q2 24 | 1.17× | 0.58× | ||
| Q1 24 | 0.77× | 1.35× |
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% |
PAYX
| Management Solutions | $1.2B | 78% |
| Peo And Insurance Solutions | $336.9M | 22% |
