vs
CALERES INC（CAL）与罗塞塔石碑（STEP）财务数据对比。点击上方公司名可切换其他公司
CALERES INC的季度营收约是罗塞塔石碑的1.3倍（$790.1M vs $586.5M），CALERES INC净利率更高（0.3% vs -21.0%，领先21.4%），罗塞塔石碑同比增速更快（73.0% vs 6.6%），罗塞塔石碑自由现金流更多（$26.7M vs $-12.4M），过去两年罗塞塔石碑的营收复合增速更高（28.2% 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。
罗塞塔石碑是美国教育科技软件企业，开发语言学习、读写能力提升及脑训练类软件，旗下语言学习产品知名度极高。2013年公司收购Livemocha、Lexia Learning等品牌拓展教育科技业务矩阵，2021年正式成为IXL Learning的子公司。
CAL vs STEP — 直观对比
营收规模更大
CAL
是对方的1.3倍
$586.5M
营收增速更快
STEP
高出66.4%
6.6%
净利率更高
CAL
高出21.4%
-21.0%
自由现金流更多
STEP
多$39.1M
$-12.4M
两年增速更快
STEP
近两年复合增速
6.5%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $790.1M | $586.5M |
| 净利润 | $2.4M | $-123.5M |
| 毛利率 | 41.8% | — |
| 营业利润率 | 1.5% | -33.2% |
| 净利率 | 0.3% | -21.0% |
| 营收同比 | 6.6% | 73.0% |
| 净利润同比 | -94.2% | 35.7% |
| 每股收益（稀释后） | $0.07 | $-1.55 |
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CALSTEP
| Q4 25 | $790.1M | $586.5M | ||
| Q3 25 | $658.5M | $454.2M | ||
| Q2 25 | $614.2M | $364.3M | ||
| Q1 25 | $639.2M | $377.7M | ||
| Q4 24 | $740.9M | $339.0M | ||
| Q3 24 | $683.3M | $271.7M | ||
| Q2 24 | $659.2M | $186.4M | ||
| Q1 24 | $697.1M | $356.8M |
净利润CALSTEP
| Q4 25 | $2.4M | $-123.5M | ||
| Q3 25 | $6.7M | $-366.1M | ||
| Q2 25 | $6.9M | $-38.4M | ||
| Q1 25 | $4.9M | $-18.5M | ||
| Q4 24 | $41.4M | $-192.0M | ||
| Q3 24 | $30.0M | $17.6M | ||
| Q2 24 | $30.9M | $13.3M | ||
| Q1 24 | $55.7M | $30.8M |
毛利率CALSTEP
| Q4 25 | 41.8% | — | ||
| Q3 25 | 43.4% | — | ||
| Q2 25 | 45.4% | — | ||
| Q1 25 | 43.0% | — | ||
| Q4 24 | 44.1% | — | ||
| Q3 24 | 45.5% | — | ||
| Q2 24 | 46.9% | — | ||
| Q1 24 | 43.9% | — |
营业利润率CALSTEP
| Q4 25 | 1.5% | -33.2% | ||
| Q3 25 | 1.4% | -148.8% | ||
| Q2 25 | 1.9% | -5.6% | ||
| Q1 25 | 1.2% | 2.6% | ||
| Q4 24 | 7.7% | -101.7% | ||
| Q3 24 | 6.2% | 21.3% | ||
| Q2 24 | 6.5% | 29.4% | ||
| Q1 24 | 4.4% | 26.5% |
净利率CALSTEP
| Q4 25 | 0.3% | -21.0% | ||
| Q3 25 | 1.0% | -80.6% | ||
| Q2 25 | 1.1% | -10.5% | ||
| Q1 25 | 0.8% | -4.9% | ||
| Q4 24 | 5.6% | -56.6% | ||
| Q3 24 | 4.4% | 6.5% | ||
| Q2 24 | 4.7% | 7.2% | ||
| Q1 24 | 8.0% | 8.6% |
每股收益（稀释后）CALSTEP
| Q4 25 | $0.07 | $-1.55 | ||
| Q3 25 | $0.20 | $-4.66 | ||
| Q2 25 | $0.21 | $-0.49 | ||
| Q1 25 | $0.17 | $-0.37 | ||
| Q4 24 | $1.19 | $-2.61 | ||
| Q3 24 | $0.85 | $0.26 | ||
| Q2 24 | $0.88 | $0.20 | ||
| Q1 24 | $1.56 | $0.47 |
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 | — |
| 总债务越低越好 | — | $270.2M |
| 股东权益账面价值 | $616.8M | $-378.8M |
| 总资产 | $2.1B | $5.2B |
| 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CALSTEP
| Q4 25 | $34.0M | — | ||
| Q3 25 | $191.5M | — | ||
| Q2 25 | $33.1M | — | ||
| Q1 25 | $29.6M | — | ||
| Q4 24 | $33.7M | — | ||
| Q3 24 | $51.8M | — | ||
| Q2 24 | $30.7M | — | ||
| Q1 24 | $21.4M | — |
总债务CALSTEP
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | — | $172.3M | ||
| Q2 24 | — | $172.1M | ||
| Q1 24 | — | $148.8M |
股东权益CALSTEP
| Q4 25 | $616.8M | $-378.8M | ||
| Q3 25 | $613.3M | $-233.5M | ||
| Q2 25 | $605.2M | $153.9M | ||
| Q1 25 | $599.0M | $179.4M | ||
| Q4 24 | $598.3M | $209.8M | ||
| Q3 24 | $606.1M | $397.5M | ||
| Q2 24 | $570.3M | $366.9M | ||
| Q1 24 | $560.6M | $324.5M |
总资产CALSTEP
| Q4 25 | $2.1B | $5.2B | ||
| Q3 25 | $2.2B | $5.3B | ||
| Q2 25 | $1.9B | $4.8B | ||
| Q1 25 | $1.9B | $4.6B | ||
| Q4 24 | $2.0B | $4.3B | ||
| Q3 24 | $2.0B | $4.0B | ||
| Q2 24 | $1.9B | $3.8B | ||
| Q1 24 | $1.8B | $3.8B |
负债/权益比CALSTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | — | 0.47× | ||
| Q1 24 | — | 0.46× |
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 | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $-12.4M | $26.7M |
| 自由现金流率自由现金流/营收 | -1.6% | 4.6% |
| 资本支出强度资本支出/营收 | 1.4% | 0.1% |
| 现金转化率经营现金流/净利润 | -0.50× | — |
| 过去12个月自由现金流最近4个季度 | $14.4M | $18.6M |
8季度趋势，按日历期对齐
经营现金流CALSTEP
| Q4 25 | $-1.2M | $27.2M | ||
| Q3 25 | $47.3M | $16.2M | ||
| Q2 25 | $-5.7M | $46.3M | ||
| Q1 25 | $28.7M | $-66.5M | ||
| Q4 24 | $-39.8M | $27.6M | ||
| Q3 24 | $79.6M | $53.7M | ||
| Q2 24 | $36.1M | $50.2M | ||
| Q1 24 | $43.0M | $7.6M |
自由现金流CALSTEP
| Q4 25 | $-12.4M | $26.7M | ||
| Q3 25 | $35.0M | $15.9M | ||
| Q2 25 | $-26.2M | $45.2M | ||
| Q1 25 | $18.0M | $-69.2M | ||
| Q4 24 | $-57.4M | $27.0M | ||
| Q3 24 | $68.5M | $52.4M | ||
| Q2 24 | $26.3M | $49.6M | ||
| Q1 24 | $32.4M | $6.7M |
自由现金流率CALSTEP
| Q4 25 | -1.6% | 4.6% | ||
| Q3 25 | 5.3% | 3.5% | ||
| Q2 25 | -4.3% | 12.4% | ||
| Q1 25 | 2.8% | -18.3% | ||
| Q4 24 | -7.7% | 8.0% | ||
| Q3 24 | 10.0% | 19.3% | ||
| Q2 24 | 4.0% | 26.6% | ||
| Q1 24 | 4.6% | 1.9% |
资本支出强度CALSTEP
| Q4 25 | 1.4% | 0.1% | ||
| Q3 25 | 1.9% | 0.1% | ||
| Q2 25 | 3.3% | 0.3% | ||
| Q1 25 | 1.7% | 0.7% | ||
| Q4 24 | 2.4% | 0.2% | ||
| Q3 24 | 1.6% | 0.5% | ||
| Q2 24 | 1.5% | 0.3% | ||
| Q1 24 | 1.5% | 0.3% |
现金转化率CALSTEP
| Q4 25 | -0.50× | — | ||
| Q3 25 | 7.05× | — | ||
| Q2 25 | -0.81× | — | ||
| Q1 25 | 5.82× | — | ||
| Q4 24 | -0.96× | — | ||
| Q3 24 | 2.66× | 3.05× | ||
| Q2 24 | 1.17× | 3.76× | ||
| Q1 24 | 0.77× | 0.25× |
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% |
STEP
| Other | $210.1M | 36% |
| Management And Advisory Fees Net Focused Commingled Funds | $143.3M | 24% |
| Carried Interest Allocation Focused Commingled Funds | $85.1M | 15% |
| Carried Interest Allocation Separately Managed Accounts | $63.6M | 11% |
| Carried Interest Allocation Realized | $46.7M | 8% |
| Management And Advisory Fees Net Advisory And Other Services | $18.3M | 3% |
| Legacy Carried Interest Allocation Focused Commingled Funds | $10.3M | 2% |
| Income Based Incentive Fees | $6.0M | 1% |
| Management And Advisory Fees Net Fund Reimbursement Revenues | $3.1M | 1% |
