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Affirm Holdings, Inc.（AFRM）与Dave & Buster's Entertainment, Inc.（PLAY）财务数据对比。点击上方公司名可切换其他公司
Dave & Buster's Entertainment, Inc.的季度营收约是Affirm Holdings, Inc.的1.1倍（$448.2M vs $401.4M），Affirm Holdings, Inc.净利率更高（32.3% vs -9.4%，领先41.7%），Affirm Holdings, Inc.同比增速更快（32.5% vs -1.1%），Affirm Holdings, Inc.自由现金流更多（$118.0M vs $-20.6M），过去两年Affirm Holdings, Inc.的营收复合增速更高（43.5% vs -13.5%）
Affirm Holdings, Inc.是美国知名金融科技企业、领先的先买后付（BNPL）服务商，由PayPal联合创始人马克斯·列夫琴于2012年创立。截至2025年，平台拥有近2600万用户，年支付处理规模达370亿美元，是美国规模最大的本土BNPL金融机构。
戴夫与巴斯特娱乐是总部位于美国达拉斯的餐饮娱乐企业，旗下每家门店都配备全套服务餐厅、酒吧以及名为“百万美元 midway”的游戏游乐区。截至2024年2月，该公司共开设162家门店，其中美国本土158家，波多黎各和加拿大各设2家门店，主打餐饮与休闲娱乐融合的消费体验。
AFRM vs PLAY — 直观对比
损益表 — Q2 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $401.4M | $448.2M |
| 净利润 | $129.6M | $-42.1M |
| 毛利率 | — | 85.8% |
| 营业利润率 | 29.3% | -3.6% |
| 净利率 | 32.3% | -9.4% |
| 营收同比 | 32.5% | -1.1% |
| 净利润同比 | 61.3% | -28.7% |
| 每股收益（稀释后） | $0.37 | $-1.22 |
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
| Q4 25 | $401.4M | $448.2M | ||
| Q3 25 | $320.5M | $557.4M | ||
| Q2 25 | $306.6M | $567.7M | ||
| Q1 25 | $272.5M | $534.5M | ||
| Q4 24 | $303.0M | $453.0M | ||
| Q3 24 | $231.8M | $557.1M | ||
| Q2 24 | $224.0M | $588.1M | ||
| Q1 24 | $195.0M | $599.0M |
| Q4 25 | $129.6M | $-42.1M | ||
| Q3 25 | $80.7M | $11.4M | ||
| Q2 25 | $69.2M | $21.7M | ||
| Q1 25 | $2.8M | $9.3M | ||
| Q4 24 | $80.4M | $-32.7M | ||
| Q3 24 | $-100.2M | $40.3M | ||
| Q2 24 | $-45.1M | $41.4M | ||
| Q1 24 | $-133.9M | $36.1M |
| Q4 25 | — | 85.8% | ||
| Q3 25 | — | 86.3% | ||
| Q2 25 | — | 85.5% | ||
| Q1 25 | — | 85.5% | ||
| Q4 24 | — | 85.0% | ||
| Q3 24 | — | 85.3% | ||
| Q2 24 | — | 85.2% | ||
| Q1 24 | — | 84.1% |
| Q4 25 | 29.3% | -3.6% | ||
| Q3 25 | 19.9% | 9.5% | ||
| Q2 25 | 18.9% | 11.1% | ||
| Q1 25 | -3.1% | 8.3% | ||
| Q4 24 | -1.4% | 1.4% | ||
| Q3 24 | -57.2% | 15.2% | ||
| Q2 24 | -32.8% | 14.5% | ||
| Q1 24 | -82.5% | 14.9% |
| Q4 25 | 32.3% | -9.4% | ||
| Q3 25 | 25.2% | 2.0% | ||
| Q2 25 | 22.6% | 3.8% | ||
| Q1 25 | 1.0% | 1.7% | ||
| Q4 24 | 26.5% | -7.2% | ||
| Q3 24 | -43.2% | 7.2% | ||
| Q2 24 | -20.2% | 7.0% | ||
| Q1 24 | -68.7% | 6.0% |
| Q4 25 | $0.37 | $-1.22 | ||
| Q3 25 | $0.23 | $0.32 | ||
| Q2 25 | $0.22 | $0.62 | ||
| Q1 25 | $0.01 | $0.32 | ||
| Q4 24 | $0.23 | $-0.84 | ||
| Q3 24 | $-0.31 | $0.99 | ||
| Q2 24 | $-0.13 | $0.99 | ||
| Q1 24 | $-0.43 | $0.95 |
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 | $1.5B | $13.6M |
| 总债务越低越好 | $9.0B | $1.6B |
| 股东权益账面价值 | $3.5B | $130.8M |
| 总资产 | $13.0B | $4.1B |
| 负债/权益比越低杠杆越低 | 2.54× | 12.17× |
8季度趋势，按日历期对齐
| Q4 25 | $1.5B | $13.6M | ||
| Q3 25 | $1.4B | $12.0M | ||
| Q2 25 | $1.4B | $11.9M | ||
| Q1 25 | $1.4B | $6.9M | ||
| Q4 24 | $1.2B | $8.6M | ||
| Q3 24 | $1.0B | $13.1M | ||
| Q2 24 | $1.0B | $32.1M | ||
| Q1 24 | $1.3B | $37.3M |
| Q4 25 | $9.0B | $1.6B | ||
| Q3 25 | $7.7B | $1.6B | ||
| Q2 25 | $7.6B | $1.6B | ||
| Q1 25 | $7.1B | $1.5B | ||
| Q4 24 | $7.3B | $1.5B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | $1.8B | $1.3B | ||
| Q1 24 | — | $1.3B |
| Q4 25 | $3.5B | $130.8M | ||
| Q3 25 | $3.3B | $166.2M | ||
| Q2 25 | $3.1B | $146.8M | ||
| Q1 25 | $2.9B | $145.8M | ||
| Q4 24 | $2.8B | $226.6M | ||
| Q3 24 | $2.8B | $284.4M | ||
| Q2 24 | $2.7B | $292.5M | ||
| Q1 24 | $2.6B | $251.2M |
| Q4 25 | $13.0B | $4.1B | ||
| Q3 25 | $11.5B | $4.1B | ||
| Q2 25 | $11.2B | $4.1B | ||
| Q1 25 | $10.4B | $4.0B | ||
| Q4 24 | $10.5B | $3.9B | ||
| Q3 24 | $10.1B | $3.8B | ||
| Q2 24 | $9.5B | $3.8B | ||
| Q1 24 | $9.2B | $3.8B |
| Q4 25 | 2.54× | 12.17× | ||
| Q3 25 | 2.35× | 9.57× | ||
| Q2 25 | 2.48× | 10.98× | ||
| Q1 25 | 2.49× | 10.45× | ||
| Q4 24 | 2.62× | 6.58× | ||
| Q3 24 | — | 4.72× | ||
| Q2 24 | 0.67× | 4.58× | ||
| Q1 24 | — | 5.33× |
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 | $173.7M | $58.0M |
| 自由现金流经营现金流 - 资本支出 | $118.0M | $-20.6M |
| 自由现金流率自由现金流/营收 | 29.4% | -4.6% |
| 资本支出强度资本支出/营收 | 13.9% | 17.5% |
| 现金转化率经营现金流/净利润 | 1.34× | — |
| 过去12个月自由现金流最近4个季度 | $619.1M | $-195.6M |
8季度趋势，按日历期对齐
| Q4 25 | $173.7M | $58.0M | ||
| Q3 25 | $374.6M | $34.0M | ||
| Q2 25 | $74.6M | $95.8M | ||
| Q1 25 | $210.4M | $108.9M | ||
| Q4 24 | $312.0M | $-7.2M | ||
| Q3 24 | $196.9M | $101.8M | ||
| Q2 24 | $68.8M | $108.8M | ||
| Q1 24 | $208.2M | $97.2M |
| Q4 25 | $118.0M | $-20.6M | ||
| Q3 25 | $320.2M | $-55.2M | ||
| Q2 25 | $23.5M | $-58.8M | ||
| Q1 25 | $157.4M | $-61.0M | ||
| Q4 24 | $268.1M | $-138.4M | ||
| Q3 24 | $152.7M | $-14.3M | ||
| Q2 24 | $30.5M | $-4.2M | ||
| Q1 24 | $161.7M | $-25.4M |
| Q4 25 | 29.4% | -4.6% | ||
| Q3 25 | 99.9% | -9.9% | ||
| Q2 25 | 7.7% | -10.4% | ||
| Q1 25 | 57.7% | -11.4% | ||
| Q4 24 | 88.5% | -30.6% | ||
| Q3 24 | 65.9% | -2.6% | ||
| Q2 24 | 13.6% | -0.7% | ||
| Q1 24 | 82.9% | -4.2% |
| Q4 25 | 13.9% | 17.5% | ||
| Q3 25 | 17.0% | 16.0% | ||
| Q2 25 | 16.7% | 27.2% | ||
| Q1 25 | 19.5% | 31.8% | ||
| Q4 24 | 14.5% | 29.0% | ||
| Q3 24 | 19.0% | 20.8% | ||
| Q2 24 | 17.1% | 19.2% | ||
| Q1 24 | 23.8% | 20.5% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 4.64× | 2.98× | ||
| Q2 25 | 1.08× | 4.41× | ||
| Q1 25 | 75.03× | 11.71× | ||
| Q4 24 | 3.88× | — | ||
| Q3 24 | — | 2.53× | ||
| Q2 24 | — | 2.63× | ||
| Q1 24 | — | 2.69× |
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
AFRM
| Merchant Network | $328.4M | 82% |
| Virtual Card Network | $73.0M | 18% |
| Commercial Agreement Amazon | $1.9M | 0% |
PLAY
| Game Play Credit Usage | $273.1M | 61% |
| Food And Nonalcoholic Beverages | $115.1M | 26% |
| Alcoholic Beverage | $53.7M | 12% |
| Other Entertainment | $6.3M | 1% |
| Gift Card Revenue | $3.5M | 1% |
