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凯雷集团（CG）与KOHLS Corp（KSS）财务数据对比。点击上方公司名可切换其他公司
KOHLS Corp的季度营收约是凯雷集团的1.9倍（$3.6B vs $1.9B），凯雷集团净利率更高（18.8% vs 0.2%，领先18.6%），凯雷集团同比增速更快（84.1% vs -3.6%），KOHLS Corp自由现金流更多（$16.0M vs $-1.2B），过去两年凯雷集团的营收复合增速更高（66.2% vs -22.5%）
凯雷集团是美国知名跨国企业，核心业务涵盖私募股权投资、另类资产管理及金融服务领域。截至2023年，公司管理资产总规模达4260亿美元，是全球另类资管行业的重要参与者。
科尔士（Kohl's）是美国知名连锁百货零售商，目前在全美除夏威夷外的各州共开设1174家门店。品牌由波兰移民麦克斯韦·科尔创立，1927年他在威斯康星州密尔沃基开设了一家街角杂货店，在当地发展为成功的连锁品牌后，1962年公司开设首家百货门店，正式进军百货零售领域。
CG vs KSS — 直观对比
营收规模更大
KSS
是对方的1.9倍
$1.9B
营收增速更快
CG
高出87.8%
-3.6%
净利率更高
CG
高出18.6%
0.2%
自由现金流更多
KSS
多$1.3B
$-1.2B
两年增速更快
CG
近两年复合增速
-22.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $3.6B |
| 净利润 | $358.1M | $8.0M |
| 毛利率 | — | 42.4% |
| 营业利润率 | 24.3% | 2.0% |
| 净利率 | 18.8% | 0.2% |
| 营收同比 | 84.1% | -3.6% |
| 净利润同比 | 69.8% | -63.6% |
| 每股收益（稀释后） | $0.96 | $0.07 |
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CGKSS
| Q4 25 | $1.9B | $3.6B | ||
| Q3 25 | $332.7M | $3.5B | ||
| Q2 25 | $1.6B | $3.2B | ||
| Q1 25 | $973.1M | $5.4B | ||
| Q4 24 | $1.0B | $3.7B | ||
| Q3 24 | $2.6B | $3.7B | ||
| Q2 24 | $1.1B | $3.4B | ||
| Q1 24 | $688.4M | $6.0B |
净利润CGKSS
| Q4 25 | $358.1M | $8.0M | ||
| Q3 25 | $900.0K | $153.0M | ||
| Q2 25 | $319.7M | $-15.0M | ||
| Q1 25 | $130.0M | $48.0M | ||
| Q4 24 | $210.9M | $22.0M | ||
| Q3 24 | $595.7M | $66.0M | ||
| Q2 24 | $148.2M | $-27.0M | ||
| Q1 24 | $65.6M | $186.0M |
毛利率CGKSS
| Q4 25 | — | 42.4% | ||
| Q3 25 | — | 43.3% | ||
| Q2 25 | — | 43.3% | ||
| Q1 25 | — | 35.6% | ||
| Q4 24 | — | 42.4% | ||
| Q3 24 | — | 43.0% | ||
| Q2 24 | — | 43.1% | ||
| Q1 24 | — | 35.2% |
营业利润率CGKSS
| Q4 25 | 24.3% | 2.0% | ||
| Q3 25 | 25.8% | 7.9% | ||
| Q2 25 | 28.0% | 1.9% | ||
| Q1 25 | 17.6% | 2.3% | ||
| Q4 24 | 25.7% | 2.6% | ||
| Q3 24 | 29.9% | 4.4% | ||
| Q2 24 | 20.5% | 1.3% | ||
| Q1 24 | 17.5% | 5.0% |
净利率CGKSS
| Q4 25 | 18.8% | 0.2% | ||
| Q3 25 | 0.3% | 4.3% | ||
| Q2 25 | 20.3% | -0.5% | ||
| Q1 25 | 13.4% | 0.9% | ||
| Q4 24 | 20.4% | 0.6% | ||
| Q3 24 | 22.6% | 1.8% | ||
| Q2 24 | 13.9% | -0.8% | ||
| Q1 24 | 9.5% | 3.1% |
每股收益（稀释后）CGKSS
| Q4 25 | $0.96 | $0.07 | ||
| Q3 25 | $0.00 | $1.35 | ||
| Q2 25 | $0.87 | $-0.13 | ||
| Q1 25 | $0.35 | $0.43 | ||
| Q4 24 | $0.56 | $0.20 | ||
| Q3 24 | $1.63 | $0.59 | ||
| Q2 24 | $0.40 | $-0.24 | ||
| Q1 24 | $0.18 | $1.67 |
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 | $2.0B | $144.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $7.1B | $3.9B |
| 总资产 | $29.1B | $14.1B |
| 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CGKSS
| Q4 25 | $2.0B | $144.0M | ||
| Q3 25 | $2.2B | $174.0M | ||
| Q2 25 | $1.3B | $153.0M | ||
| Q1 25 | $1.2B | $134.0M | ||
| Q4 24 | $1.3B | $174.0M | ||
| Q3 24 | $1.4B | $231.0M | ||
| Q2 24 | $914.8M | $228.0M | ||
| Q1 24 | $1.3B | $183.0M |
股东权益CGKSS
| Q4 25 | $7.1B | $3.9B | ||
| Q3 25 | $6.8B | $3.9B | ||
| Q2 25 | $6.7B | $3.8B | ||
| Q1 25 | $6.4B | $3.8B | ||
| Q4 24 | $6.3B | $3.8B | ||
| Q3 24 | $6.3B | $3.8B | ||
| Q2 24 | $5.7B | $3.8B | ||
| Q1 24 | $5.7B | $3.9B |
总资产CGKSS
| Q4 25 | $29.1B | $14.1B | ||
| Q3 25 | $27.1B | $13.4B | ||
| Q2 25 | $25.1B | $13.6B | ||
| Q1 25 | $24.1B | $13.6B | ||
| Q4 24 | $23.1B | $15.1B | ||
| Q3 24 | $22.7B | $14.2B | ||
| Q2 24 | $22.3B | $14.3B | ||
| Q1 24 | $20.8B | $14.0B |
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 | $-1.2B | $124.0M |
| 自由现金流经营现金流 - 资本支出 | $-1.2B | $16.0M |
| 自由现金流率自由现金流/营收 | -65.1% | 0.4% |
| 资本支出强度资本支出/营收 | 2.2% | 3.0% |
| 现金转化率经营现金流/净利润 | -3.34× | 15.50× |
| 过去12个月自由现金流最近4个季度 | $-3.4B | $819.0M |
8季度趋势，按日历期对齐
经营现金流CGKSS
| Q4 25 | $-1.2B | $124.0M | ||
| Q3 25 | $-1.6B | $598.0M | ||
| Q2 25 | $-168.8M | $-92.0M | ||
| Q1 25 | $-352.1M | $596.0M | ||
| Q4 24 | $-352.8M | $-195.0M | ||
| Q3 24 | $791.9M | $254.0M | ||
| Q2 24 | $-1.3B | $-7.0M | ||
| Q1 24 | $71.1M | $789.0M |
自由现金流CGKSS
| Q4 25 | $-1.2B | $16.0M | ||
| Q3 25 | $-1.6B | $508.0M | ||
| Q2 25 | $-186.3M | $-202.0M | ||
| Q1 25 | $-368.8M | $497.0M | ||
| Q4 24 | $-379.5M | $-323.0M | ||
| Q3 24 | $772.8M | $141.0M | ||
| Q2 24 | $-1.3B | $-133.0M | ||
| Q1 24 | $56.9M | $707.0M |
自由现金流率CGKSS
| Q4 25 | -65.1% | 0.4% | ||
| Q3 25 | -475.7% | 14.3% | ||
| Q2 25 | -11.8% | -6.2% | ||
| Q1 25 | -37.9% | 9.2% | ||
| Q4 24 | -36.8% | -8.7% | ||
| Q3 24 | 29.3% | 3.8% | ||
| Q2 24 | -120.4% | -3.9% | ||
| Q1 24 | 8.3% | 11.9% |
资本支出强度CGKSS
| Q4 25 | 2.2% | 3.0% | ||
| Q3 25 | 7.0% | 2.5% | ||
| Q2 25 | 1.1% | 3.4% | ||
| Q1 25 | 1.7% | 1.8% | ||
| Q4 24 | 2.6% | 3.5% | ||
| Q3 24 | 0.7% | 3.0% | ||
| Q2 24 | 1.7% | 3.7% | ||
| Q1 24 | 2.1% | 1.4% |
现金转化率CGKSS
| Q4 25 | -3.34× | 15.50× | ||
| Q3 25 | -1732.78× | 3.91× | ||
| Q2 25 | -0.53× | — | ||
| Q1 25 | -2.71× | 12.42× | ||
| Q4 24 | -1.67× | -8.86× | ||
| Q3 24 | 1.33× | 3.85× | ||
| Q2 24 | -8.57× | — | ||
| Q1 24 | 1.08× | 4.24× |
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
CG
| Fund Management Fee | $606.8M | 32% |
| Other | $528.7M | 28% |
| Global Private Equity Segment | $307.3M | 16% |
| Global Credit Segment | $238.0M | 13% |
| Carlyle Alp Invest Segment | $124.6M | 7% |
| Incentive Fee | $55.4M | 3% |
| Fee Related Performance Revenues | $29.2M | 2% |
| Investment Advice | $11.1M | 1% |
KSS
| Products | $3.4B | 95% |
| Other | $168.0M | 5% |
| Gift Card | $17.0M | 0% |
