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罗塞塔石碑（STEP）与Vestis Corp（VSTS）财务数据对比。点击上方公司名可切换其他公司
Vestis Corp的季度营收约是罗塞塔石碑的1.1倍（$663.4M vs $586.5M），Vestis Corp净利率更高（-1.0% vs -21.0%，领先20.1%），罗塞塔石碑同比增速更快（73.0% vs -3.0%），Vestis Corp自由现金流更多（$28.3M 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%）
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。
Vestis Corp是北美领先的工作制服、安全防护服饰及配套设施服务供应商，服务覆盖医疗、制造、零售、餐饮住宿、公共服务等多个领域，为企业客户提供定制化的制服租赁、清洁与日常维护解决方案。
STEP vs VSTS — 直观对比
营收规模更大
VSTS
是对方的1.1倍
$586.5M
营收增速更快
STEP
高出76.0%
-3.0%
净利率更高
VSTS
高出20.1%
-21.0%
自由现金流更多
VSTS
多$1.6M
$26.7M
两年增速更快
STEP
近两年复合增速
-3.0%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $586.5M | $663.4M |
| 净利润 | $-123.5M | $-6.4M |
| 毛利率 | — | — |
| 营业利润率 | -33.2% | 2.5% |
| 净利率 | -21.0% | -1.0% |
| 营收同比 | 73.0% | -3.0% |
| 净利润同比 | 35.7% | -868.1% |
| 每股收益（稀释后） | $-1.55 | $-0.05 |
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STEPVSTS
| Q1 26 | — | $663.4M | ||
| Q4 25 | $586.5M | $712.0M | ||
| Q3 25 | $454.2M | — | ||
| Q2 25 | $364.3M | $673.8M | ||
| Q1 25 | $377.7M | $665.2M | ||
| Q4 24 | $339.0M | $683.8M | ||
| Q3 24 | $271.7M | $684.3M | ||
| Q2 24 | $186.4M | $698.2M |
净利润STEPVSTS
| Q1 26 | — | $-6.4M | ||
| Q4 25 | $-123.5M | $-12.5M | ||
| Q3 25 | $-366.1M | — | ||
| Q2 25 | $-38.4M | $-676.0K | ||
| Q1 25 | $-18.5M | $-27.8M | ||
| Q4 24 | $-192.0M | $832.0K | ||
| Q3 24 | $17.6M | $-2.3M | ||
| Q2 24 | $13.3M | $5.0M |
营业利润率STEPVSTS
| Q1 26 | — | 2.5% | ||
| Q4 25 | -33.2% | 2.5% | ||
| Q3 25 | -148.8% | — | ||
| Q2 25 | -5.6% | 3.7% | ||
| Q1 25 | 2.6% | -1.3% | ||
| Q4 24 | -101.7% | 4.4% | ||
| Q3 24 | 21.3% | 4.4% | ||
| Q2 24 | 29.4% | 5.4% |
净利率STEPVSTS
| Q1 26 | — | -1.0% | ||
| Q4 25 | -21.0% | -1.8% | ||
| Q3 25 | -80.6% | — | ||
| Q2 25 | -10.5% | -0.1% | ||
| Q1 25 | -4.9% | -4.2% | ||
| Q4 24 | -56.6% | 0.1% | ||
| Q3 24 | 6.5% | -0.3% | ||
| Q2 24 | 7.2% | 0.7% |
每股收益（稀释后）STEPVSTS
| Q1 26 | — | $-0.05 | ||
| Q4 25 | $-1.55 | $-0.10 | ||
| Q3 25 | $-4.66 | — | ||
| Q2 25 | $-0.49 | $-0.01 | ||
| Q1 25 | $-0.37 | $-0.21 | ||
| Q4 24 | $-2.61 | $0.01 | ||
| Q3 24 | $0.26 | $-0.02 | ||
| Q2 24 | $0.20 | $0.04 |
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 | — | $41.5M |
| 总债务越低越好 | $270.2M | — |
| 股东权益账面价值 | $-378.8M | $864.4M |
| 总资产 | $5.2B | $2.9B |
| 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STEPVSTS
| Q1 26 | — | $41.5M | ||
| Q4 25 | — | $29.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $23.7M | ||
| Q1 25 | — | $28.8M | ||
| Q4 24 | — | $18.6M | ||
| Q3 24 | — | $31.0M | ||
| Q2 24 | — | $29.1M |
总债务STEPVSTS
| Q1 26 | — | — | ||
| Q4 25 | $270.2M | $1.2B | ||
| Q3 25 | $269.9M | — | ||
| Q2 25 | $269.6M | — | ||
| Q1 25 | $269.3M | — | ||
| Q4 24 | $168.9M | — | ||
| Q3 24 | $172.3M | $1.2B | ||
| Q2 24 | $172.1M | — |
股东权益STEPVSTS
| Q1 26 | — | $864.4M | ||
| Q4 25 | $-378.8M | $865.6M | ||
| Q3 25 | $-233.5M | — | ||
| Q2 25 | $153.9M | $882.2M | ||
| Q1 25 | $179.4M | $876.3M | ||
| Q4 24 | $209.8M | $899.6M | ||
| Q3 24 | $397.5M | $903.1M | ||
| Q2 24 | $366.9M | $901.2M |
总资产STEPVSTS
| Q1 26 | — | $2.9B | ||
| Q4 25 | $5.2B | $2.9B | ||
| Q3 25 | $5.3B | — | ||
| Q2 25 | $4.8B | $2.9B | ||
| Q1 25 | $4.6B | $2.9B | ||
| Q4 24 | $4.3B | $2.9B | ||
| Q3 24 | $4.0B | $2.9B | ||
| Q2 24 | $3.8B | $3.1B |
负债/权益比STEPVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | 1.35× | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.75× | — | ||
| Q1 25 | 1.50× | — | ||
| Q4 24 | 0.81× | — | ||
| Q3 24 | 0.43× | 1.29× | ||
| Q2 24 | 0.47× | — |
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 | $27.2M | $37.7M |
| 自由现金流经营现金流 - 资本支出 | $26.7M | $28.3M |
| 自由现金流率自由现金流/营收 | 4.6% | 4.3% |
| 资本支出强度资本支出/营收 | 0.1% | 1.4% |
| 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 | $18.6M | $45.0M |
8季度趋势，按日历期对齐
经营现金流STEPVSTS
| Q1 26 | — | $37.7M | ||
| Q4 25 | $27.2M | $30.9M | ||
| Q3 25 | $16.2M | — | ||
| Q2 25 | $46.3M | $22.9M | ||
| Q1 25 | $-66.5M | $6.7M | ||
| Q4 24 | $27.6M | $3.8M | ||
| Q3 24 | $53.7M | $295.6M | ||
| Q2 24 | $50.2M | $48.7M |
自由现金流STEPVSTS
| Q1 26 | — | $28.3M | ||
| Q4 25 | $26.7M | $15.6M | ||
| Q3 25 | $15.9M | — | ||
| Q2 25 | $45.2M | $8.0M | ||
| Q1 25 | $-69.2M | $-6.9M | ||
| Q4 24 | $27.0M | $-11.0M | ||
| Q3 24 | $52.4M | $267.5M | ||
| Q2 24 | $49.6M | $27.7M |
自由现金流率STEPVSTS
| Q1 26 | — | 4.3% | ||
| Q4 25 | 4.6% | 2.2% | ||
| Q3 25 | 3.5% | — | ||
| Q2 25 | 12.4% | 1.2% | ||
| Q1 25 | -18.3% | -1.0% | ||
| Q4 24 | 8.0% | -1.6% | ||
| Q3 24 | 19.3% | 39.1% | ||
| Q2 24 | 26.6% | 4.0% |
资本支出强度STEPVSTS
| Q1 26 | — | 1.4% | ||
| Q4 25 | 0.1% | 2.2% | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.3% | 2.2% | ||
| Q1 25 | 0.7% | 2.0% | ||
| Q4 24 | 0.2% | 2.2% | ||
| Q3 24 | 0.5% | 4.1% | ||
| Q2 24 | 0.3% | 3.0% |
现金转化率STEPVSTS
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.54× | ||
| Q3 24 | 3.05× | — | ||
| Q2 24 | 3.76× | 9.66× |
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
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% |
VSTS
| Workplace Supplies | $375.2M | 57% |
| Uniforms | $227.7M | 34% |
| Other | $60.5M | 9% |
