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LANDS' END, INC.（LE）与INNOVATE Corp.（VATE）财务数据对比。点击上方公司名可切换其他公司
INNOVATE Corp.的季度营收约是LANDS' END, INC.的1.2倍（$382.7M vs $317.5M），LANDS' END, INC.净利率更高（1.6% vs -1.9%，领先3.6%），INNOVATE Corp.同比增速更快（61.7% vs 0.1%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% vs -0.9%）
Lands' End是1963年诞生于美国芝加哥的服饰零售品牌，最初以邮购游艇用品起家，目前业务拓展至服饰、箱包与家居用品领域。截至2024年2月，品牌在美国本土共开设26家门店，总部位于威斯康星州道奇维尔。品牌名源自地名兰兹角，因创立时印刷错了撇号位置又无力重印，错拼的名称便沿用至今。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
LE vs VATE — 直观对比
营收规模更大
VATE
是对方的1.2倍
$317.5M
营收增速更快
VATE
高出61.7%
0.1%
净利率更高
LE
高出3.6%
-1.9%
两年增速更快
VATE
近两年复合增速
-0.9%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $317.5M | $382.7M |
| 净利润 | $5.2M | $-7.4M |
| 毛利率 | 51.8% | 15.4% |
| 营业利润率 | 5.3% | 3.7% |
| 净利率 | 1.6% | -1.9% |
| 营收同比 | 0.1% | 61.7% |
| 净利润同比 | 198.3% | 55.4% |
| 每股收益（稀释后） | $0.17 | $-0.57 |
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LEVATE
| Q4 25 | $317.5M | $382.7M | ||
| Q3 25 | — | $347.1M | ||
| Q2 25 | $261.2M | $242.0M | ||
| Q1 25 | — | $274.2M | ||
| Q4 24 | $318.6M | $236.6M | ||
| Q3 24 | $317.2M | $242.2M | ||
| Q2 24 | $285.5M | $313.1M | ||
| Q1 24 | $514.9M | $315.2M |
净利润LEVATE
| Q4 25 | $5.2M | $-7.4M | ||
| Q3 25 | — | $-8.9M | ||
| Q2 25 | $-8.3M | $-19.8M | ||
| Q1 25 | — | $-24.5M | ||
| Q4 24 | $-593.0K | $-16.6M | ||
| Q3 24 | $-5.3M | $-15.0M | ||
| Q2 24 | $-6.4M | $14.4M | ||
| Q1 24 | $-8.6M | $-17.4M |
毛利率LEVATE
| Q4 25 | 51.8% | 15.4% | ||
| Q3 25 | — | 14.3% | ||
| Q2 25 | 50.8% | 18.8% | ||
| Q1 25 | — | 16.6% | ||
| Q4 24 | 50.6% | 19.6% | ||
| Q3 24 | 47.9% | 19.9% | ||
| Q2 24 | 48.7% | 21.0% | ||
| Q1 24 | 38.0% | 15.4% |
营业利润率LEVATE
| Q4 25 | 5.3% | 3.7% | ||
| Q3 25 | — | 1.8% | ||
| Q2 25 | -0.9% | 2.0% | ||
| Q1 25 | — | 1.2% | ||
| Q4 24 | 2.9% | 1.1% | ||
| Q3 24 | 0.8% | 2.4% | ||
| Q2 24 | 0.8% | 9.2% | ||
| Q1 24 | 1.6% | 0.9% |
净利率LEVATE
| Q4 25 | 1.6% | -1.9% | ||
| Q3 25 | — | -2.6% | ||
| Q2 25 | -3.2% | -8.2% | ||
| Q1 25 | — | -8.9% | ||
| Q4 24 | -0.2% | -7.0% | ||
| Q3 24 | -1.7% | -6.2% | ||
| Q2 24 | -2.3% | 4.6% | ||
| Q1 24 | -1.7% | -5.5% |
每股收益（稀释后）LEVATE
| Q4 25 | $0.17 | $-0.57 | ||
| Q3 25 | — | $-0.71 | ||
| Q2 25 | $-0.27 | $-1.67 | ||
| Q1 25 | — | $-1.89 | ||
| Q4 24 | $-0.02 | $-0.72 | ||
| Q3 24 | $-0.17 | $-1.18 | ||
| Q2 24 | $-0.20 | $1.03 | ||
| Q1 24 | $-0.27 | $-2.21 |
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 | $36.3M | $112.1M |
| 总债务越低越好 | — | $80.3M |
| 股东权益账面价值 | $231.0M | $-240.1M |
| 总资产 | $852.7M | $950.1M |
| 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LEVATE
| Q4 25 | $36.3M | $112.1M | ||
| Q3 25 | — | $35.5M | ||
| Q2 25 | $18.1M | $33.4M | ||
| Q1 25 | — | $33.3M | ||
| Q4 24 | $30.4M | $48.8M | ||
| Q3 24 | $25.6M | $51.0M | ||
| Q2 24 | $27.4M | $80.2M | ||
| Q1 24 | $25.3M | $38.4M |
总债务LEVATE
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
股东权益LEVATE
| Q4 25 | $231.0M | $-240.1M | ||
| Q3 25 | — | $-233.3M | ||
| Q2 25 | $230.1M | $-224.8M | ||
| Q1 25 | — | $-204.2M | ||
| Q4 24 | $223.6M | $-180.4M | ||
| Q3 24 | $226.5M | $-163.1M | ||
| Q2 24 | $234.6M | $-149.0M | ||
| Q1 24 | $241.6M | $-184.4M |
总资产LEVATE
| Q4 25 | $852.7M | $950.1M | ||
| Q3 25 | — | $913.2M | ||
| Q2 25 | $760.5M | $890.9M | ||
| Q1 25 | — | $868.0M | ||
| Q4 24 | $843.6M | $891.1M | ||
| Q3 24 | $802.5M | $897.2M | ||
| Q2 24 | $800.1M | $898.9M | ||
| Q1 24 | $811.5M | $943.5M |
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 | $-15.7M | $101.1M |
| 自由现金流经营现金流 - 资本支出 | $-22.4M | — |
| 自由现金流率自由现金流/营收 | -7.1% | — |
| 资本支出强度资本支出/营收 | 2.1% | — |
| 现金转化率经营现金流/净利润 | -3.03× | — |
| 过去12个月自由现金流最近4个季度 | $-55.0M | — |
8季度趋势，按日历期对齐
经营现金流LEVATE
| Q4 25 | $-15.7M | $101.1M | ||
| Q3 25 | — | $19.2M | ||
| Q2 25 | $-22.5M | $40.4M | ||
| Q1 25 | — | $-14.1M | ||
| Q4 24 | $-17.1M | $41.4M | ||
| Q3 24 | $30.7M | $-28.4M | ||
| Q2 24 | $-25.8M | $21.5M | ||
| Q1 24 | $93.9M | $-25.4M |
自由现金流LEVATE
| Q4 25 | $-22.4M | — | ||
| Q3 25 | — | $19.0M | ||
| Q2 25 | $-30.7M | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | $-27.8M | $34.2M | ||
| Q3 24 | $26.0M | $-31.5M | ||
| Q2 24 | $-32.6M | $18.4M | ||
| Q1 24 | $87.5M | $-31.0M |
自由现金流率LEVATE
| Q4 25 | -7.1% | — | ||
| Q3 25 | — | 5.5% | ||
| Q2 25 | -11.8% | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | -8.7% | 14.5% | ||
| Q3 24 | 8.2% | -13.0% | ||
| Q2 24 | -11.4% | 5.9% | ||
| Q1 24 | 17.0% | -9.8% |
资本支出强度LEVATE
| Q4 25 | 2.1% | — | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | 3.3% | 3.0% | ||
| Q3 24 | 1.5% | 1.3% | ||
| Q2 24 | 2.4% | 1.0% | ||
| Q1 24 | 1.2% | 1.8% |
现金转化率LEVATE
| Q4 25 | -3.03× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.49× | ||
| Q1 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
LE
| U Se Commerce | $179.8M | 57% |
| Business Outfitters Revenue | $78.8M | 25% |
| Licensing And Retail | $20.2M | 6% |
| Other | $19.8M | 6% |
| Third Party | $18.9M | 6% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
