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ACACIA RESEARCH CORP（ACTG）与花花公子（PLBY）财务数据对比。点击上方公司名可切换其他公司
ACACIA RESEARCH CORP的季度营收约是花花公子的1.4倍（$50.1M vs $34.9M），花花公子净利率更高（10.3% vs 6.8%，领先3.5%），花花公子同比增速更快（4.2% vs 2.6%），过去两年ACACIA RESEARCH CORP的营收复合增速更高（43.6% vs 11.0%）
槐亚研究公司是一家总部位于纽约市的美国上市企业，在科技、能源以及工业制造领域开展业务收购与运营工作。该公司与控股股东斯塔博德价值投资合伙企业保持战略伙伴关系，这家企业在业内常被归类为专利流氓。
花花公子集团（Playboy, Inc.）起源于1953年由休·海夫纳联合合伙人在美国芝加哥创立，初始部分资金来自海夫纳母亲提供的1000美元贷款，是美国知名生活方式与娱乐内容品牌，旗下核心《花花公子》杂志同时发行电子版与纸质版。
ACTG vs PLBY — 直观对比
营收规模更大
ACTG
是对方的1.4倍
$34.9M
营收增速更快
PLBY
高出1.6%
2.6%
净利率更高
PLBY
高出3.5%
6.8%
两年增速更快
ACTG
近两年复合增速
11.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $50.1M | $34.9M |
| 净利润 | $3.4M | $3.6M |
| 毛利率 | 12.8% | 73.3% |
| 营业利润率 | -26.1% | 7.9% |
| 净利率 | 6.8% | 10.3% |
| 营收同比 | 2.6% | 4.2% |
| 净利润同比 | 125.5% | 128.6% |
| 每股收益（稀释后） | $0.03 | $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ACTGPLBY
| Q4 25 | $50.1M | $34.9M | ||
| Q3 25 | $59.4M | $29.0M | ||
| Q2 25 | $51.2M | $28.1M | ||
| Q1 25 | $124.4M | $28.9M | ||
| Q4 24 | $48.8M | $33.5M | ||
| Q3 24 | $23.3M | $29.4M | ||
| Q2 24 | $25.8M | $24.9M | ||
| Q1 24 | $24.3M | $28.3M |
净利润ACTGPLBY
| Q4 25 | $3.4M | $3.6M | ||
| Q3 25 | $-2.7M | $460.0K | ||
| Q2 25 | $-3.3M | $-7.7M | ||
| Q1 25 | $24.3M | $-9.0M | ||
| Q4 24 | $-13.4M | $-12.5M | ||
| Q3 24 | $-14.0M | $-33.8M | ||
| Q2 24 | $-8.4M | $-16.7M | ||
| Q1 24 | $-186.0K | $-16.4M |
毛利率ACTGPLBY
| Q4 25 | 12.8% | 73.3% | ||
| Q3 25 | 21.2% | 76.0% | ||
| Q2 25 | 12.8% | 65.4% | ||
| Q1 25 | 47.4% | 68.6% | ||
| Q4 24 | 17.6% | 70.8% | ||
| Q3 24 | 10.1% | 61.0% | ||
| Q2 24 | 26.2% | 67.8% | ||
| Q1 24 | 49.2% | 55.8% |
营业利润率ACTGPLBY
| Q4 25 | -26.1% | 7.9% | ||
| Q3 25 | -10.8% | 4.7% | ||
| Q2 25 | -24.2% | -20.9% | ||
| Q1 25 | 30.8% | -21.7% | ||
| Q4 24 | -32.4% | -13.3% | ||
| Q3 24 | -44.1% | -96.0% | ||
| Q2 24 | -18.4% | -37.0% | ||
| Q1 24 | -8.6% | -31.5% |
净利率ACTGPLBY
| Q4 25 | 6.8% | 10.3% | ||
| Q3 25 | -4.6% | 1.6% | ||
| Q2 25 | -6.4% | -27.3% | ||
| Q1 25 | 19.5% | -31.3% | ||
| Q4 24 | -27.5% | -37.4% | ||
| Q3 24 | -60.0% | -114.7% | ||
| Q2 24 | -32.7% | -66.9% | ||
| Q1 24 | -0.8% | -58.1% |
每股收益（稀释后）ACTGPLBY
| Q4 25 | $0.03 | $0.05 | ||
| Q3 25 | $-0.03 | $0.00 | ||
| Q2 25 | $-0.03 | $-0.08 | ||
| Q1 25 | $0.25 | $-0.10 | ||
| Q4 24 | $-0.14 | $-0.13 | ||
| Q3 24 | $-0.14 | $-0.45 | ||
| Q2 24 | $-0.08 | $-0.23 | ||
| Q1 24 | $0.00 | $-0.23 |
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 | $306.7M | $37.8M |
| 总债务越低越好 | $91.9M | $174.2M |
| 股东权益账面价值 | $543.5M | $18.4M |
| 总资产 | $771.0M | $292.4M |
| 负债/权益比越低杠杆越低 | 0.17× | 9.48× |
8季度趋势，按日历期对齐
现金及短期投资ACTGPLBY
| Q4 25 | $306.7M | $37.8M | ||
| Q3 25 | $301.8M | $27.5M | ||
| Q2 25 | $316.7M | $19.6M | ||
| Q1 25 | $272.0M | $23.7M | ||
| Q4 24 | $273.9M | $30.9M | ||
| Q3 24 | $410.9M | $9.5M | ||
| Q2 24 | $441.9M | $16.9M | ||
| Q1 24 | $498.4M | $19.0M |
总债务ACTGPLBY
| Q4 25 | $91.9M | $174.2M | ||
| Q3 25 | — | $176.8M | ||
| Q2 25 | — | $177.5M | ||
| Q1 25 | — | $176.3M | ||
| Q4 24 | — | $176.6M | ||
| Q3 24 | — | $200.0M | ||
| Q2 24 | — | $196.3M | ||
| Q1 24 | — | $193.4M |
股东权益ACTGPLBY
| Q4 25 | $543.5M | $18.4M | ||
| Q3 25 | $537.6M | $3.8M | ||
| Q2 25 | $538.6M | $-17.5M | ||
| Q1 25 | $540.2M | $-11.4M | ||
| Q4 24 | $514.8M | $-7.7M | ||
| Q3 24 | $540.2M | $-15.7M | ||
| Q2 24 | $560.7M | $15.7M | ||
| Q1 24 | $568.3M | $29.5M |
总资产ACTGPLBY
| Q4 25 | $771.0M | $292.4M | ||
| Q3 25 | $768.9M | $278.3M | ||
| Q2 25 | $775.5M | $264.1M | ||
| Q1 25 | $801.6M | $270.6M | ||
| Q4 24 | $756.4M | $284.7M | ||
| Q3 24 | $707.6M | $271.5M | ||
| Q2 24 | $753.6M | $301.8M | ||
| Q1 24 | $631.7M | $309.1M |
负债/权益比ACTGPLBY
| Q4 25 | 0.17× | 9.48× | ||
| Q3 25 | — | 46.86× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 12.51× | ||
| Q1 24 | — | 6.54× |
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 | $75.2M | $1.4M |
| 自由现金流经营现金流 - 资本支出 | — | $1.1M |
| 自由现金流率自由现金流/营收 | — | 3.2% |
| 资本支出强度资本支出/营收 | — | 0.8% |
| 现金转化率经营现金流/净利润 | 22.01× | 0.39× |
| 过去12个月自由现金流最近4个季度 | — | $-1.0M |
8季度趋势，按日历期对齐
经营现金流ACTGPLBY
| Q4 25 | $75.2M | $1.4M | ||
| Q3 25 | $9.5M | $10.1M | ||
| Q2 25 | $50.1M | $-3.9M | ||
| Q1 25 | $2.4M | $-7.6M | ||
| Q4 24 | $50.1M | $161.0K | ||
| Q3 24 | $-593.0K | $-6.5M | ||
| Q2 24 | $16.1M | $-3.0M | ||
| Q1 24 | $54.8M | $-9.8M |
自由现金流ACTGPLBY
| Q4 25 | — | $1.1M | ||
| Q3 25 | — | $9.8M | ||
| Q2 25 | — | $-4.3M | ||
| Q1 25 | $335.0K | $-7.7M | ||
| Q4 24 | $-98.5M | $-401.0K | ||
| Q3 24 | $-2.8M | $-7.0M | ||
| Q2 24 | $-126.7M | $-3.7M | ||
| Q1 24 | $54.6M | $-10.3M |
自由现金流率ACTGPLBY
| Q4 25 | — | 3.2% | ||
| Q3 25 | — | 33.8% | ||
| Q2 25 | — | -15.2% | ||
| Q1 25 | 0.3% | -26.5% | ||
| Q4 24 | -201.8% | -1.2% | ||
| Q3 24 | -12.1% | -23.7% | ||
| Q2 24 | -490.5% | -14.8% | ||
| Q1 24 | 224.4% | -36.5% |
资本支出强度ACTGPLBY
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | 1.7% | 0.1% | ||
| Q4 24 | 304.4% | 1.7% | ||
| Q3 24 | 9.6% | 1.5% | ||
| Q2 24 | 553.0% | 2.6% | ||
| Q1 24 | 1.1% | 2.1% |
现金转化率ACTGPLBY
| Q4 25 | 22.01× | 0.39× | ||
| Q3 25 | — | 22.02× | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
PLBY
| Transferred At Point In Time | $22.2M | 64% |
| Trademark Licensing | $6.5M | 19% |
| Related Party | $5.0M | 14% |
| Other | $1.1M | 3% |
