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全食超市（SMPL）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全食超市的1.7倍（$586.5M vs $340.2M），全食超市净利率更高（7.4% vs -21.0%，领先28.5%），罗塞塔石碑同比增速更快（73.0% vs -0.3%），全食超市自由现金流更多（$48.0M vs $26.7M），过去两年罗塞塔石碑的营收复合增速更高（28.2% vs 3.0%）
全食超市是总部位于美国得克萨斯州奥斯汀的跨国连锁超市，现为亚马逊全资旗下品牌。门店主打无氢化脂肪、人工色素、人工香精、防腐剂的天然食品，是美国农业部认证的有机食品零售商，以丰富的有机商品选择深受消费者欢迎。
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。
SMPL vs STEP — 直观对比
营收规模更大
STEP
是对方的1.7倍
$340.2M
营收增速更快
STEP
高出73.3%
-0.3%
净利率更高
SMPL
高出28.5%
-21.0%
自由现金流更多
SMPL
多$21.3M
$26.7M
两年增速更快
STEP
近两年复合增速
3.0%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $340.2M | $586.5M |
| 净利润 | $25.3M | $-123.5M |
| 毛利率 | 32.3% | — |
| 营业利润率 | 11.0% | -33.2% |
| 净利率 | 7.4% | -21.0% |
| 营收同比 | -0.3% | 73.0% |
| 净利润同比 | -33.7% | 35.7% |
| 每股收益（稀释后） | $0.26 | $-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SMPLSTEP
| Q4 25 | $340.2M | $586.5M | ||
| Q3 25 | — | $454.2M | ||
| Q2 25 | $381.0M | $364.3M | ||
| Q1 25 | — | $377.7M | ||
| Q4 24 | $341.3M | $339.0M | ||
| Q3 24 | $375.7M | $271.7M | ||
| Q2 24 | $334.8M | $186.4M | ||
| Q1 24 | $312.2M | $356.8M |
净利润SMPLSTEP
| Q4 25 | $25.3M | $-123.5M | ||
| Q3 25 | — | $-366.1M | ||
| Q2 25 | $41.1M | $-38.4M | ||
| Q1 25 | — | $-18.5M | ||
| Q4 24 | $38.1M | $-192.0M | ||
| Q3 24 | $29.3M | $17.6M | ||
| Q2 24 | $41.3M | $13.3M | ||
| Q1 24 | $33.1M | $30.8M |
毛利率SMPLSTEP
| Q4 25 | 32.3% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 36.4% | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 38.2% | — | ||
| Q3 24 | 38.8% | — | ||
| Q2 24 | 39.9% | — | ||
| Q1 24 | 37.4% | — |
营业利润率SMPLSTEP
| Q4 25 | 11.0% | -33.2% | ||
| Q3 25 | — | -148.8% | ||
| Q2 25 | 15.6% | -5.6% | ||
| Q1 25 | — | 2.6% | ||
| Q4 24 | 16.0% | -101.7% | ||
| Q3 24 | 12.7% | 21.3% | ||
| Q2 24 | 17.6% | 29.4% | ||
| Q1 24 | 15.4% | 26.5% |
净利率SMPLSTEP
| Q4 25 | 7.4% | -21.0% | ||
| Q3 25 | — | -80.6% | ||
| Q2 25 | 10.8% | -10.5% | ||
| Q1 25 | — | -4.9% | ||
| Q4 24 | 11.2% | -56.6% | ||
| Q3 24 | 7.8% | 6.5% | ||
| Q2 24 | 12.3% | 7.2% | ||
| Q1 24 | 10.6% | 8.6% |
每股收益（稀释后）SMPLSTEP
| Q4 25 | $0.26 | $-1.55 | ||
| Q3 25 | — | $-4.66 | ||
| Q2 25 | $0.40 | $-0.49 | ||
| Q1 25 | — | $-0.37 | ||
| Q4 24 | $0.38 | $-2.61 | ||
| Q3 24 | $0.29 | $0.26 | ||
| Q2 24 | $0.41 | $0.20 | ||
| Q1 24 | $0.33 | $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 | $194.1M | — |
| 总债务越低越好 | — | $270.2M |
| 股东权益账面价值 | $1.7B | $-378.8M |
| 总资产 | $2.5B | $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SMPLSTEP
| Q4 25 | $194.1M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $98.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $121.8M | — | ||
| Q3 24 | $132.5M | — | ||
| Q2 24 | $208.7M | — | ||
| Q1 24 | $135.9M | — |
总债务SMPLSTEP
| Q4 25 | — | $270.2M | ||
| Q3 25 | — | $269.9M | ||
| Q2 25 | — | $269.6M | ||
| Q1 25 | — | $269.3M | ||
| Q4 24 | — | $168.9M | ||
| Q3 24 | $397.5M | $172.3M | ||
| Q2 24 | $237.7M | $172.1M | ||
| Q1 24 | $237.7M | $148.8M |
股东权益SMPLSTEP
| Q4 25 | $1.7B | $-378.8M | ||
| Q3 25 | — | $-233.5M | ||
| Q2 25 | $1.8B | $153.9M | ||
| Q1 25 | — | $179.4M | ||
| Q4 24 | $1.8B | $209.8M | ||
| Q3 24 | $1.7B | $397.5M | ||
| Q2 24 | $1.7B | $366.9M | ||
| Q1 24 | $1.6B | $324.5M |
总资产SMPLSTEP
| Q4 25 | $2.5B | $5.2B | ||
| Q3 25 | — | $5.3B | ||
| Q2 25 | $2.4B | $4.8B | ||
| Q1 25 | — | $4.6B | ||
| Q4 24 | $2.4B | $4.3B | ||
| Q3 24 | $2.4B | $4.0B | ||
| Q2 24 | $2.2B | $3.8B | ||
| Q1 24 | $2.1B | $3.8B |
负债/权益比SMPLSTEP
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | 1.50× | ||
| Q4 24 | — | 0.81× | ||
| Q3 24 | 0.23× | 0.43× | ||
| Q2 24 | 0.14× | 0.47× | ||
| Q1 24 | 0.14× | 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 | $50.1M | $27.2M |
| 自由现金流经营现金流 - 资本支出 | $48.0M | $26.7M |
| 自由现金流率自由现金流/营收 | 14.1% | 4.6% |
| 资本支出强度资本支出/营收 | 0.6% | 0.1% |
| 现金转化率经营现金流/净利润 | 1.98× | — |
| 过去12个月自由现金流最近4个季度 | $223.6M | $18.6M |
8季度趋势，按日历期对齐
经营现金流SMPLSTEP
| Q4 25 | $50.1M | $27.2M | ||
| Q3 25 | — | $16.2M | ||
| Q2 25 | $101.1M | $46.3M | ||
| Q1 25 | — | $-66.5M | ||
| Q4 24 | $32.0M | $27.6M | ||
| Q3 24 | $48.9M | $53.7M | ||
| Q2 24 | $72.8M | $50.2M | ||
| Q1 24 | $46.5M | $7.6M |
自由现金流SMPLSTEP
| Q4 25 | $48.0M | $26.7M | ||
| Q3 25 | — | $15.9M | ||
| Q2 25 | $98.9M | $45.2M | ||
| Q1 25 | — | $-69.2M | ||
| Q4 24 | $31.7M | $27.0M | ||
| Q3 24 | $45.0M | $52.4M | ||
| Q2 24 | $72.0M | $49.6M | ||
| Q1 24 | $46.1M | $6.7M |
自由现金流率SMPLSTEP
| Q4 25 | 14.1% | 4.6% | ||
| Q3 25 | — | 3.5% | ||
| Q2 25 | 25.9% | 12.4% | ||
| Q1 25 | — | -18.3% | ||
| Q4 24 | 9.3% | 8.0% | ||
| Q3 24 | 12.0% | 19.3% | ||
| Q2 24 | 21.5% | 26.6% | ||
| Q1 24 | 14.8% | 1.9% |
资本支出强度SMPLSTEP
| Q4 25 | 0.6% | 0.1% | ||
| Q3 25 | — | 0.1% | ||
| Q2 25 | 0.6% | 0.3% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | 1.0% | 0.5% | ||
| Q2 24 | 0.2% | 0.3% | ||
| Q1 24 | 0.1% | 0.3% |
现金转化率SMPLSTEP
| Q4 25 | 1.98× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.46× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.84× | — | ||
| Q3 24 | 1.67× | 3.05× | ||
| Q2 24 | 1.76× | 3.76× | ||
| Q1 24 | 1.40× | 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
SMPL
| Quest | $211.4M | 62% |
| Atkins Domain | $79.7M | 23% |
| OWYN | $28.1M | 8% |
| Other | $20.9M | 6% |
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% |
