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KOHLS Corp（KSS）与SHOPIFY INC.（SHOP）财务数据对比。点击上方公司名可切换其他公司
SHOPIFY INC.的季度营收约是KOHLS Corp的1.0倍（$3.7B vs $3.6B），SHOPIFY INC.净利率更高（20.2% vs 0.2%，领先20.0%），SHOPIFY INC.同比增速更快（30.6% vs -3.6%），SHOPIFY INC.自由现金流更多（$715.0M vs $16.0M），过去两年SHOPIFY INC.的营收复合增速更高（40.5% vs -22.5%）
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。
Shopify是总部位于加拿大安大略省渥太华的跨国电商企业，运营零售POS系统及相关服务平台，全球客户超500万，2024年总交易处理额达2923亿美元，其中57%来自美国市场，服务客户包括特斯拉、路威酩轩、雀巢、百事、百威英博、红牛、凯悦等知名品牌。
KSS vs SHOP — 直观对比
营收规模更大
SHOP
是对方的1.0倍
$3.6B
营收增速更快
SHOP
高出34.2%
-3.6%
净利率更高
SHOP
高出20.0%
0.2%
自由现金流更多
SHOP
多$699.0M
$16.0M
两年增速更快
SHOP
近两年复合增速
-22.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $3.6B | $3.7B |
| 净利润 | $8.0M | $743.0M |
| 毛利率 | 42.4% | 46.1% |
| 营业利润率 | 2.0% | 17.2% |
| 净利率 | 0.2% | 20.2% |
| 营收同比 | -3.6% | 30.6% |
| 净利润同比 | -63.6% | -42.5% |
| 每股收益（稀释后） | $0.07 | $0.58 |
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KSSSHOP
| Q4 25 | $3.6B | $3.7B | ||
| Q3 25 | $3.5B | $2.8B | ||
| Q2 25 | $3.2B | $2.7B | ||
| Q1 25 | $5.4B | $2.4B | ||
| Q4 24 | $3.7B | $2.8B | ||
| Q3 24 | $3.7B | $2.2B | ||
| Q2 24 | $3.4B | $2.0B | ||
| Q1 24 | $6.0B | $1.9B |
净利润KSSSHOP
| Q4 25 | $8.0M | $743.0M | ||
| Q3 25 | $153.0M | $264.0M | ||
| Q2 25 | $-15.0M | $906.0M | ||
| Q1 25 | $48.0M | $-682.0M | ||
| Q4 24 | $22.0M | $1.3B | ||
| Q3 24 | $66.0M | $828.0M | ||
| Q2 24 | $-27.0M | $171.0M | ||
| Q1 24 | $186.0M | $-273.0M |
毛利率KSSSHOP
| Q4 25 | 42.4% | 46.1% | ||
| Q3 25 | 43.3% | 48.9% | ||
| Q2 25 | 43.3% | 48.6% | ||
| Q1 25 | 35.6% | 49.5% | ||
| Q4 24 | 42.4% | 48.1% | ||
| Q3 24 | 43.0% | 51.7% | ||
| Q2 24 | 43.1% | 51.1% | ||
| Q1 24 | 35.2% | 51.4% |
营业利润率KSSSHOP
| Q4 25 | 2.0% | 17.2% | ||
| Q3 25 | 7.9% | 12.1% | ||
| Q2 25 | 1.9% | 10.9% | ||
| Q1 25 | 2.3% | 8.6% | ||
| Q4 24 | 2.6% | 16.5% | ||
| Q3 24 | 4.4% | 13.1% | ||
| Q2 24 | 1.3% | 11.8% | ||
| Q1 24 | 5.0% | 4.6% |
净利率KSSSHOP
| Q4 25 | 0.2% | 20.2% | ||
| Q3 25 | 4.3% | 9.3% | ||
| Q2 25 | -0.5% | 33.8% | ||
| Q1 25 | 0.9% | -28.9% | ||
| Q4 24 | 0.6% | 46.0% | ||
| Q3 24 | 1.8% | 38.3% | ||
| Q2 24 | -0.8% | 8.4% | ||
| Q1 24 | 3.1% | -14.7% |
每股收益（稀释后）KSSSHOP
| Q4 25 | $0.07 | $0.58 | ||
| Q3 25 | $1.35 | $0.20 | ||
| Q2 25 | $-0.13 | $0.69 | ||
| Q1 25 | $0.43 | $-0.53 | ||
| Q4 24 | $0.20 | $0.99 | ||
| Q3 24 | $0.59 | $0.64 | ||
| Q2 24 | $-0.24 | $0.13 | ||
| Q1 24 | $1.67 | $-0.21 |
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 | $144.0M | $5.8B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $3.9B | $13.5B |
| 总资产 | $14.1B | $15.2B |
| 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KSSSHOP
| Q4 25 | $144.0M | $5.8B | ||
| Q3 25 | $174.0M | $6.3B | ||
| Q2 25 | $153.0M | $5.8B | ||
| Q1 25 | $134.0M | $5.5B | ||
| Q4 24 | $174.0M | $5.5B | ||
| Q3 24 | $231.0M | — | ||
| Q2 24 | $228.0M | — | ||
| Q1 24 | $183.0M | — |
股东权益KSSSHOP
| Q4 25 | $3.9B | $13.5B | ||
| Q3 25 | $3.9B | $12.5B | ||
| Q2 25 | $3.8B | $12.1B | ||
| Q1 25 | $3.8B | $11.1B | ||
| Q4 24 | $3.8B | $11.6B | ||
| Q3 24 | $3.8B | $10.1B | ||
| Q2 24 | $3.8B | $9.2B | ||
| Q1 24 | $3.9B | $8.9B |
总资产KSSSHOP
| Q4 25 | $14.1B | $15.2B | ||
| Q3 25 | $13.4B | $15.0B | ||
| Q2 25 | $13.6B | $14.6B | ||
| Q1 25 | $13.6B | $13.4B | ||
| Q4 24 | $15.1B | $13.9B | ||
| Q3 24 | $14.2B | — | ||
| Q2 24 | $14.3B | — | ||
| Q1 24 | $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 | $124.0M | $725.0M |
| 自由现金流经营现金流 - 资本支出 | $16.0M | $715.0M |
| 自由现金流率自由现金流/营收 | 0.4% | 19.5% |
| 资本支出强度资本支出/营收 | 3.0% | 0.3% |
| 现金转化率经营现金流/净利润 | 15.50× | 0.98× |
| 过去12个月自由现金流最近4个季度 | $819.0M | $2.0B |
8季度趋势，按日历期对齐
经营现金流KSSSHOP
| Q4 25 | $124.0M | $725.0M | ||
| Q3 25 | $598.0M | $513.0M | ||
| Q2 25 | $-92.0M | $428.0M | ||
| Q1 25 | $596.0M | $367.0M | ||
| Q4 24 | $-195.0M | $615.0M | ||
| Q3 24 | $254.0M | $423.0M | ||
| Q2 24 | $-7.0M | $340.0M | ||
| Q1 24 | $789.0M | $238.0M |
自由现金流KSSSHOP
| Q4 25 | $16.0M | $715.0M | ||
| Q3 25 | $508.0M | $507.0M | ||
| Q2 25 | $-202.0M | $422.0M | ||
| Q1 25 | $497.0M | $363.0M | ||
| Q4 24 | $-323.0M | $611.0M | ||
| Q3 24 | $141.0M | $421.0M | ||
| Q2 24 | $-133.0M | $333.0M | ||
| Q1 24 | $707.0M | $232.0M |
自由现金流率KSSSHOP
| Q4 25 | 0.4% | 19.5% | ||
| Q3 25 | 14.3% | 17.8% | ||
| Q2 25 | -6.2% | 15.7% | ||
| Q1 25 | 9.2% | 15.4% | ||
| Q4 24 | -8.7% | 21.7% | ||
| Q3 24 | 3.8% | 19.5% | ||
| Q2 24 | -3.9% | 16.3% | ||
| Q1 24 | 11.9% | 12.5% |
资本支出强度KSSSHOP
| Q4 25 | 3.0% | 0.3% | ||
| Q3 25 | 2.5% | 0.2% | ||
| Q2 25 | 3.4% | 0.2% | ||
| Q1 25 | 1.8% | 0.2% | ||
| Q4 24 | 3.5% | 0.1% | ||
| Q3 24 | 3.0% | 0.1% | ||
| Q2 24 | 3.7% | 0.3% | ||
| Q1 24 | 1.4% | 0.3% |
现金转化率KSSSHOP
| Q4 25 | 15.50× | 0.98× | ||
| Q3 25 | 3.91× | 1.94× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | 12.42× | — | ||
| Q4 24 | -8.86× | 0.48× | ||
| Q3 24 | 3.85× | 0.51× | ||
| Q2 24 | — | 1.99× | ||
| Q1 24 | 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
KSS
| Products | $3.4B | 95% |
| Other | $168.0M | 5% |
| Gift Card | $17.0M | 0% |
SHOP
| Services | $2.9B | 79% |
| Subscription And Circulation | $777.0M | 21% |
