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国际纸业（IP）与KOHLS Corp（KSS）财务数据对比。点击上方公司名可切换其他公司
国际纸业的季度营收约是KOHLS Corp的1.3倍（$4.7B vs $3.6B），KOHLS Corp净利率更高（0.2% vs -50.3%，领先50.5%），国际纸业同比增速更快（3.6% vs -3.6%），国际纸业自由现金流更多（$255.0M vs $16.0M），过去两年国际纸业的营收复合增速更高（1.3% vs -22.5%）
国际纸业是总部位于美国田纳西州孟菲斯的纸浆及造纸企业，为全球规模最大的同类型企业，目前拥有约3.9万名员工，产品覆盖纸浆、包装用纸、办公用纸等品类，业务遍及全球多个国家和地区，广泛服务各行业客户的相关需求。
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。
IP vs KSS — 直观对比
营收规模更大
IP
是对方的1.3倍
$3.6B
营收增速更快
IP
高出7.2%
-3.6%
净利率更高
KSS
高出50.5%
-50.3%
自由现金流更多
IP
多$239.0M
$16.0M
两年增速更快
IP
近两年复合增速
-22.5%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $4.7B | $3.6B |
| 净利润 | $-2.4B | $8.0M |
| 毛利率 | 32.2% | 42.4% |
| 营业利润率 | -56.4% | 2.0% |
| 净利率 | -50.3% | 0.2% |
| 营收同比 | 3.6% | -3.6% |
| 净利润同比 | -1521.8% | -63.6% |
| 每股收益（稀释后） | $-4.76 | $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IPKSS
| Q4 25 | $4.7B | $3.6B | ||
| Q3 25 | $6.2B | $3.5B | ||
| Q2 25 | $6.8B | $3.2B | ||
| Q1 25 | $5.9B | $5.4B | ||
| Q4 24 | $4.6B | $3.7B | ||
| Q3 24 | $4.7B | $3.7B | ||
| Q2 24 | $4.7B | $3.4B | ||
| Q1 24 | $4.6B | $6.0B |
净利润IPKSS
| Q4 25 | $-2.4B | $8.0M | ||
| Q3 25 | $-1.1B | $153.0M | ||
| Q2 25 | $75.0M | $-15.0M | ||
| Q1 25 | $-105.0M | $48.0M | ||
| Q4 24 | $-147.0M | $22.0M | ||
| Q3 24 | $150.0M | $66.0M | ||
| Q2 24 | $498.0M | $-27.0M | ||
| Q1 24 | $56.0M | $186.0M |
毛利率IPKSS
| Q4 25 | 32.2% | 42.4% | ||
| Q3 25 | 31.1% | 43.3% | ||
| Q2 25 | 27.9% | 43.3% | ||
| Q1 25 | 27.8% | 35.6% | ||
| Q4 24 | 29.0% | 42.4% | ||
| Q3 24 | 28.7% | 43.0% | ||
| Q2 24 | 29.0% | 43.1% | ||
| Q1 24 | 25.9% | 35.2% |
营业利润率IPKSS
| Q4 25 | -56.4% | 2.0% | ||
| Q3 25 | -10.8% | 7.9% | ||
| Q2 25 | 1.7% | 1.9% | ||
| Q1 25 | -2.3% | 2.3% | ||
| Q4 24 | -4.9% | 2.6% | ||
| Q3 24 | 5.1% | 4.4% | ||
| Q2 24 | 6.8% | 1.3% | ||
| Q1 24 | 3.7% | 5.0% |
净利率IPKSS
| Q4 25 | -50.3% | 0.2% | ||
| Q3 25 | -17.7% | 4.3% | ||
| Q2 25 | 1.1% | -0.5% | ||
| Q1 25 | -1.8% | 0.9% | ||
| Q4 24 | -3.2% | 0.6% | ||
| Q3 24 | 3.2% | 1.8% | ||
| Q2 24 | 10.5% | -0.8% | ||
| Q1 24 | 1.2% | 3.1% |
每股收益（稀释后）IPKSS
| Q4 25 | $-4.76 | $0.07 | ||
| Q3 25 | $-2.09 | $1.35 | ||
| Q2 25 | $0.14 | $-0.13 | ||
| Q1 25 | $-0.24 | $0.43 | ||
| Q4 24 | $-0.42 | $0.20 | ||
| Q3 24 | $0.42 | $0.59 | ||
| Q2 24 | $1.41 | $-0.24 | ||
| Q1 24 | $0.16 | $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 | $1.1B | $144.0M |
| 总债务越低越好 | $8.8B | — |
| 股东权益账面价值 | $14.8B | $3.9B |
| 总资产 | $38.0B | $14.1B |
| 负债/权益比越低杠杆越低 | 0.60× | — |
8季度趋势，按日历期对齐
现金及短期投资IPKSS
| Q4 25 | $1.1B | $144.0M | ||
| Q3 25 | $995.0M | $174.0M | ||
| Q2 25 | $1.1B | $153.0M | ||
| Q1 25 | $1.2B | $134.0M | ||
| Q4 24 | $1.2B | $174.0M | ||
| Q3 24 | $1.2B | $231.0M | ||
| Q2 24 | $1.0B | $228.0M | ||
| Q1 24 | $1.1B | $183.0M |
总债务IPKSS
| Q4 25 | $8.8B | — | ||
| Q3 25 | $9.0B | — | ||
| Q2 25 | $9.7B | — | ||
| Q1 25 | $9.2B | — | ||
| Q4 24 | $5.4B | — | ||
| Q3 24 | $5.3B | — | ||
| Q2 24 | $5.3B | — | ||
| Q1 24 | $5.5B | — |
股东权益IPKSS
| Q4 25 | $14.8B | $3.9B | ||
| Q3 25 | $17.3B | $3.9B | ||
| Q2 25 | $18.6B | $3.8B | ||
| Q1 25 | $18.1B | $3.8B | ||
| Q4 24 | $8.2B | $3.8B | ||
| Q3 24 | $8.6B | $3.8B | ||
| Q2 24 | $8.6B | $3.8B | ||
| Q1 24 | $8.3B | $3.9B |
总资产IPKSS
| Q4 25 | $38.0B | $14.1B | ||
| Q3 25 | $40.6B | $13.4B | ||
| Q2 25 | $42.4B | $13.6B | ||
| Q1 25 | $41.2B | $13.6B | ||
| Q4 24 | $22.8B | $15.1B | ||
| Q3 24 | $23.2B | $14.2B | ||
| Q2 24 | $23.1B | $14.3B | ||
| Q1 24 | $23.0B | $14.0B |
负债/权益比IPKSS
| Q4 25 | 0.60× | — | ||
| Q3 25 | 0.52× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.51× | — | ||
| Q4 24 | 0.66× | — | ||
| Q3 24 | 0.62× | — | ||
| Q2 24 | 0.62× | — | ||
| Q1 24 | 0.66× | — |
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 | $905.0M | $124.0M |
| 自由现金流经营现金流 - 资本支出 | $255.0M | $16.0M |
| 自由现金流率自由现金流/营收 | 5.4% | 0.4% |
| 资本支出强度资本支出/营收 | 13.7% | 3.0% |
| 现金转化率经营现金流/净利润 | — | 15.50× |
| 过去12个月自由现金流最近4个季度 | $-159.0M | $819.0M |
8季度趋势，按日历期对齐
经营现金流IPKSS
| Q4 25 | $905.0M | $124.0M | ||
| Q3 25 | $605.0M | $598.0M | ||
| Q2 25 | $476.0M | $-92.0M | ||
| Q1 25 | $-288.0M | $596.0M | ||
| Q4 24 | $397.0M | $-195.0M | ||
| Q3 24 | $521.0M | $254.0M | ||
| Q2 24 | $365.0M | $-7.0M | ||
| Q1 24 | $395.0M | $789.0M |
自由现金流IPKSS
| Q4 25 | $255.0M | $16.0M | ||
| Q3 25 | $150.0M | $508.0M | ||
| Q2 25 | $54.0M | $-202.0M | ||
| Q1 25 | $-618.0M | $497.0M | ||
| Q4 24 | $137.0M | $-323.0M | ||
| Q3 24 | $309.0M | $141.0M | ||
| Q2 24 | $167.0M | $-133.0M | ||
| Q1 24 | $144.0M | $707.0M |
自由现金流率IPKSS
| Q4 25 | 5.4% | 0.4% | ||
| Q3 25 | 2.4% | 14.3% | ||
| Q2 25 | 0.8% | -6.2% | ||
| Q1 25 | -10.5% | 9.2% | ||
| Q4 24 | 3.0% | -8.7% | ||
| Q3 24 | 6.6% | 3.8% | ||
| Q2 24 | 3.5% | -3.9% | ||
| Q1 24 | 3.1% | 11.9% |
资本支出强度IPKSS
| Q4 25 | 13.7% | 3.0% | ||
| Q3 25 | 7.3% | 2.5% | ||
| Q2 25 | 6.2% | 3.4% | ||
| Q1 25 | 5.6% | 1.8% | ||
| Q4 24 | 5.7% | 3.5% | ||
| Q3 24 | 4.5% | 3.0% | ||
| Q2 24 | 4.2% | 3.7% | ||
| Q1 24 | 5.4% | 1.4% |
现金转化率IPKSS
| Q4 25 | — | 15.50× | ||
| Q3 25 | — | 3.91× | ||
| Q2 25 | 6.35× | — | ||
| Q1 25 | — | 12.42× | ||
| Q4 24 | — | -8.86× | ||
| Q3 24 | 3.47× | 3.85× | ||
| Q2 24 | 0.73× | — | ||
| Q1 24 | 7.05× | 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
IP
| Other | $2.4B | 52% |
| DS Smith Packaging | $2.3B | 48% |
KSS
| Products | $3.4B | 95% |
| Other | $168.0M | 5% |
| Gift Card | $17.0M | 0% |
