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Childrens Place, Inc.（PLCE）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
罗塞塔石碑的季度营收约是Childrens Place, Inc.的1.7倍（$586.5M vs $339.5M），Childrens Place, Inc.净利率更高（-1.3% vs -21.0%，领先19.8%），罗塞塔石碑同比增速更快（73.0% vs -13.0%），罗塞塔石碑自由现金流更多（$26.7M vs $-3.4M），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs -13.6%）
Children’s Place是专业儿童服饰零售商，产品主要以旗下自有品牌发售，涵盖Gymboree、Sugar & Jade、PJ Place、Crazy 8等。目前该品牌在美国、加拿大、波多黎各共开设约525家门店，同时通过两个线上渠道以及15个国家的5家加盟合作伙伴开展销售，产品涵盖上衣、裙装、鞋履、裤装、睡衣、背包等全品类儿童服饰配件。
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。
PLCE vs STEP — 直观对比
营收规模更大
STEP
是对方的1.7倍
$339.5M
营收增速更快
STEP
高出86.0%
-13.0%
净利率更高
PLCE
高出19.8%
-21.0%
自由现金流更多
STEP
多$30.1M
$-3.4M
两年增速更快
STEP
近两年复合增速
-13.6%
损益表 — Q3 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $339.5M | $586.5M |
| 净利润 | $-4.3M | $-123.5M |
| 毛利率 | 33.1% | — |
| 营业利润率 | 1.1% | -33.2% |
| 净利率 | -1.3% | -21.0% |
| 营收同比 | -13.0% | 73.0% |
| 净利润同比 | -121.5% | 35.7% |
| 每股收益（稀释后） | $-0.19 | $-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PLCESTEP
| Q4 25 | $339.5M | $586.5M | ||
| Q3 25 | $298.0M | $454.2M | ||
| Q2 25 | $242.1M | $364.3M | ||
| Q1 25 | $408.6M | $377.7M | ||
| Q4 24 | $390.2M | $339.0M | ||
| Q3 24 | $319.7M | $271.7M | ||
| Q2 24 | $267.9M | $186.4M | ||
| Q1 24 | $455.0M | $356.8M |
净利润PLCESTEP
| Q4 25 | $-4.3M | $-123.5M | ||
| Q3 25 | $-5.4M | $-366.1M | ||
| Q2 25 | $-34.0M | $-38.4M | ||
| Q1 25 | $-8.0M | $-18.5M | ||
| Q4 24 | $20.1M | $-192.0M | ||
| Q3 24 | $-32.1M | $17.6M | ||
| Q2 24 | $-37.8M | $13.3M | ||
| Q1 24 | $-128.8M | $30.8M |
毛利率PLCESTEP
| Q4 25 | 33.1% | — | ||
| Q3 25 | 34.0% | — | ||
| Q2 25 | 29.2% | — | ||
| Q1 25 | 28.5% | — | ||
| Q4 24 | 35.5% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 34.6% | — | ||
| Q1 24 | 21.8% | — |
营业利润率PLCESTEP
| Q4 25 | 1.1% | -33.2% | ||
| Q3 25 | 1.4% | -148.8% | ||
| Q2 25 | -10.0% | -5.6% | ||
| Q1 25 | 1.7% | 2.6% | ||
| Q4 24 | 7.5% | -101.7% | ||
| Q3 24 | -6.8% | 21.3% | ||
| Q2 24 | -10.4% | 29.4% | ||
| Q1 24 | -13.6% | 26.5% |
净利率PLCESTEP
| Q4 25 | -1.3% | -21.0% | ||
| Q3 25 | -1.8% | -80.6% | ||
| Q2 25 | -14.1% | -10.5% | ||
| Q1 25 | -2.0% | -4.9% | ||
| Q4 24 | 5.1% | -56.6% | ||
| Q3 24 | -10.0% | 6.5% | ||
| Q2 24 | -14.1% | 7.2% | ||
| Q1 24 | -28.3% | 8.6% |
每股收益（稀释后）PLCESTEP
| Q4 25 | $-0.19 | $-1.55 | ||
| Q3 25 | $-0.24 | $-4.66 | ||
| Q2 25 | $-1.57 | $-0.49 | ||
| Q1 25 | $-0.60 | $-0.37 | ||
| Q4 24 | $1.57 | $-2.61 | ||
| Q3 24 | $-2.51 | $0.26 | ||
| Q2 24 | $-2.98 | $0.20 | ||
| Q1 24 | $-10.24 | $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 | $7.3M | — |
| 总债务越低越好 | $107.4M | $270.2M |
| 股东权益账面价值 | $-8.6M | $-378.8M |
| 总资产 | $762.5M | $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PLCESTEP
| Q4 25 | $7.3M | — | ||
| Q3 25 | $7.8M | — | ||
| Q2 25 | $5.7M | — | ||
| Q1 25 | $5.3M | — | ||
| Q4 24 | $5.7M | — | ||
| Q3 24 | $9.6M | — | ||
| Q2 24 | $13.0M | — | ||
| Q1 24 | $13.6M | — |
总债务PLCESTEP
| Q4 25 | $107.4M | $270.2M | ||
| Q3 25 | $107.2M | $269.9M | ||
| Q2 25 | $107.0M | $269.6M | ||
| Q1 25 | $166.0M | $269.3M | ||
| Q4 24 | $165.7M | $168.9M | ||
| Q3 24 | $165.4M | $172.3M | ||
| Q2 24 | $166.6M | $172.1M | ||
| Q1 24 | $49.8M | $148.8M |
股东权益PLCESTEP
| Q4 25 | $-8.6M | $-378.8M | ||
| Q3 25 | $-4.9M | $-233.5M | ||
| Q2 25 | $1.4M | $153.9M | ||
| Q1 25 | $-59.4M | $179.4M | ||
| Q4 24 | $-49.6M | $209.8M | ||
| Q3 24 | $-68.9M | $397.5M | ||
| Q2 24 | $-34.9M | $366.9M | ||
| Q1 24 | $-9.0M | $324.5M |
总资产PLCESTEP
| Q4 25 | $762.5M | $5.2B | ||
| Q3 25 | $805.1M | $5.3B | ||
| Q2 25 | $779.6M | $4.8B | ||
| Q1 25 | $747.6M | $4.6B | ||
| Q4 24 | $888.8M | $4.3B | ||
| Q3 24 | $921.4M | $4.0B | ||
| Q2 24 | $848.3M | $3.8B | ||
| Q1 24 | $800.3M | $3.8B |
负债/权益比PLCESTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 75.63× | 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 | $6.2M | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $-3.4M | $26.7M |
| 自由现金流率自由现金流/营收 | -1.0% | 4.6% |
| 资本支出强度资本支出/营收 | 2.8% | 0.1% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $39.5M | $18.6M |
8季度趋势，按日历期对齐
经营现金流PLCESTEP
| Q4 25 | $6.2M | $27.2M | ||
| Q3 25 | $-30.5M | $16.2M | ||
| Q2 25 | $-43.0M | $46.3M | ||
| Q1 25 | $121.3M | $-66.5M | ||
| Q4 24 | $-44.2M | $27.6M | ||
| Q3 24 | $-83.9M | $53.7M | ||
| Q2 24 | $-110.8M | $50.2M | ||
| Q1 24 | $135.4M | $7.6M |
自由现金流PLCESTEP
| Q4 25 | $-3.4M | $26.7M | ||
| Q3 25 | $-31.9M | $15.9M | ||
| Q2 25 | $-46.4M | $45.2M | ||
| Q1 25 | $121.2M | $-69.2M | ||
| Q4 24 | $-47.7M | $27.0M | ||
| Q3 24 | $-91.7M | $52.4M | ||
| Q2 24 | $-115.5M | $49.6M | ||
| Q1 24 | $132.2M | $6.7M |
自由现金流率PLCESTEP
| Q4 25 | -1.0% | 4.6% | ||
| Q3 25 | -10.7% | 3.5% | ||
| Q2 25 | -19.2% | 12.4% | ||
| Q1 25 | 29.7% | -18.3% | ||
| Q4 24 | -12.2% | 8.0% | ||
| Q3 24 | -28.7% | 19.3% | ||
| Q2 24 | -43.1% | 26.6% | ||
| Q1 24 | 29.1% | 1.9% |
资本支出强度PLCESTEP
| Q4 25 | 2.8% | 0.1% | ||
| Q3 25 | 0.5% | 0.1% | ||
| Q2 25 | 1.4% | 0.3% | ||
| Q1 25 | 0.0% | 0.7% | ||
| Q4 24 | 0.9% | 0.2% | ||
| Q3 24 | 2.4% | 0.5% | ||
| Q2 24 | 1.8% | 0.3% | ||
| Q1 24 | 0.7% | 0.3% |
现金转化率PLCESTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -2.20× | — | ||
| Q3 24 | — | 3.05× | ||
| Q2 24 | — | 3.76× | ||
| Q1 24 | — | 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
PLCE
| The Childrens Place US | $307.4M | 91% |
| The Childrens Place International | $32.1M | 9% |
| Gift Cards | $1.7M | 1% |
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% |
