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美国运通（AXP）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
花花公子的季度营收约是美国运通的1.8倍（$34.9M vs $18.9M），美国运通净利率更高（15.7% vs 10.3%，领先5.4%），美国运通同比增速更快（11.4% vs 4.2%），过去两年花花公子的营收复合增速更高（11.0% vs -95.6%）
美国运通是全球知名的支付服务提供商，主营签账卡、信用卡产品及旅行相关服务，下设全球消费者服务、全球商业服务、全球商户与网络服务三大业务板块，还提供支付融资、网络服务、应付账款费用管理、旅行生活服务等多元解决方案。
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。
AXP vs PLBY — 直观对比
营收规模更大
PLBY
是对方的1.8倍
$18.9M
营收增速更快
AXP
高出7.2%
4.2%
净利率更高
AXP
高出5.4%
10.3%
两年增速更快
PLBY
近两年复合增速
-95.6%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $18.9M | $34.9M |
| 净利润 | $3.0M | $3.6M |
| 毛利率 | — | 73.3% |
| 营业利润率 | — | 7.9% |
| 净利率 | 15.7% | 10.3% |
| 营收同比 | 11.4% | 4.2% |
| 净利润同比 | 15.0% | 128.6% |
| 每股收益（稀释后） | — | $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AXPPLBY
| Q1 26 | $18.9M | — | ||
| Q4 25 | $10.9B | $34.9M | ||
| Q3 25 | $10.4B | $29.0M | ||
| Q2 25 | $10.3B | $28.1M | ||
| Q1 25 | $9.6B | $28.9M | ||
| Q4 24 | $10.0B | $33.5M | ||
| Q3 24 | $9.7B | $29.4M | ||
| Q2 24 | $9.8B | $24.9M |
净利润AXPPLBY
| Q1 26 | $3.0M | — | ||
| Q4 25 | $2.5B | $3.6M | ||
| Q3 25 | $2.9B | $460.0K | ||
| Q2 25 | $2.9B | $-7.7M | ||
| Q1 25 | $2.6B | $-9.0M | ||
| Q4 24 | $2.2B | $-12.5M | ||
| Q3 24 | $2.5B | $-33.8M | ||
| Q2 24 | $3.0B | $-16.7M |
毛利率AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | — | 73.3% | ||
| Q3 25 | — | 76.0% | ||
| Q2 25 | — | 65.4% | ||
| Q1 25 | — | 68.6% | ||
| Q4 24 | — | 70.8% | ||
| Q3 24 | — | 61.0% | ||
| Q2 24 | — | 67.8% |
营业利润率AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | 28.2% | 7.9% | ||
| Q3 25 | 36.7% | 4.7% | ||
| Q2 25 | 34.4% | -20.9% | ||
| Q1 25 | 34.6% | -21.7% | ||
| Q4 24 | 27.7% | -13.3% | ||
| Q3 24 | 33.0% | -96.0% | ||
| Q2 24 | 38.6% | -37.0% |
净利率AXPPLBY
| Q1 26 | 15.7% | — | ||
| Q4 25 | 22.5% | 10.3% | ||
| Q3 25 | 27.9% | 1.6% | ||
| Q2 25 | 28.0% | -27.3% | ||
| Q1 25 | 26.8% | -31.3% | ||
| Q4 24 | 21.8% | -37.4% | ||
| Q3 24 | 25.8% | -114.7% | ||
| Q2 24 | 30.7% | -66.9% |
每股收益（稀释后）AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | $3.52 | $0.05 | ||
| Q3 25 | $4.14 | $0.00 | ||
| Q2 25 | $4.08 | $-0.08 | ||
| Q1 25 | $3.64 | $-0.10 | ||
| Q4 24 | $3.04 | $-0.13 | ||
| Q3 24 | $3.49 | $-0.45 | ||
| Q2 24 | $4.15 | $-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 | — | $37.8M |
| 总债务越低越好 | $60.4M | $174.2M |
| 股东权益账面价值 | $34.0M | $18.4M |
| 总资产 | $308.9M | $292.4M |
| 负债/权益比越低杠杆越低 | 1.78× | 9.48× |
8季度趋势，按日历期对齐
现金及短期投资AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | $742.0M | $37.8M | ||
| Q3 25 | $1.3B | $27.5M | ||
| Q2 25 | $197.0M | $19.6M | ||
| Q1 25 | $261.0M | $23.7M | ||
| Q4 24 | $221.0M | $30.9M | ||
| Q3 24 | $120.0M | $9.5M | ||
| Q2 24 | $188.0M | $16.9M |
总债务AXPPLBY
| Q1 26 | $60.4M | — | ||
| Q4 25 | $56.4B | $174.2M | ||
| Q3 25 | $57.8B | $176.8M | ||
| Q2 25 | $58.2B | $177.5M | ||
| Q1 25 | $51.2B | $176.3M | ||
| Q4 24 | $49.7B | $176.6M | ||
| Q3 24 | $53.5B | $200.0M | ||
| Q2 24 | $51.5B | $196.3M |
股东权益AXPPLBY
| Q1 26 | $34.0M | — | ||
| Q4 25 | $33.5B | $18.4M | ||
| Q3 25 | $32.4B | $3.8M | ||
| Q2 25 | $32.3B | $-17.5M | ||
| Q1 25 | $31.2B | $-11.4M | ||
| Q4 24 | $30.3B | $-7.7M | ||
| Q3 24 | $29.7B | $-15.7M | ||
| Q2 24 | $29.5B | $15.7M |
总资产AXPPLBY
| Q1 26 | $308.9M | — | ||
| Q4 25 | $300.1B | $292.4M | ||
| Q3 25 | $297.6B | $278.3M | ||
| Q2 25 | $295.6B | $264.1M | ||
| Q1 25 | $282.2B | $270.6M | ||
| Q4 24 | $271.5B | $284.7M | ||
| Q3 24 | $271.0B | $271.5M | ||
| Q2 24 | $272.2B | $301.8M |
负债/权益比AXPPLBY
| Q1 26 | 1.78× | — | ||
| Q4 25 | 1.68× | 9.48× | ||
| Q3 25 | 1.78× | 46.86× | ||
| Q2 25 | 1.80× | — | ||
| Q1 25 | 1.64× | — | ||
| Q4 24 | 1.64× | — | ||
| Q3 24 | 1.80× | — | ||
| Q2 24 | 1.74× | 12.51× |
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 | — | $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 | — | 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AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $1.4M | ||
| Q3 25 | $6.2B | $10.1M | ||
| Q2 25 | $4.4B | $-3.9M | ||
| Q1 25 | $4.8B | $-7.6M | ||
| Q4 24 | $5.8B | $161.0K | ||
| Q3 24 | $-1.8B | $-6.5M | ||
| Q2 24 | $4.5B | $-3.0M |
自由现金流AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | $2.3B | $1.1M | ||
| Q3 25 | $5.6B | $9.8M | ||
| Q2 25 | $3.7B | $-4.3M | ||
| Q1 25 | $4.3B | $-7.7M | ||
| Q4 24 | $5.3B | $-401.0K | ||
| Q3 24 | $-2.3B | $-7.0M | ||
| Q2 24 | $4.0B | $-3.7M |
自由现金流率AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | 21.4% | 3.2% | ||
| Q3 25 | 53.6% | 33.8% | ||
| Q2 25 | 36.3% | -15.2% | ||
| Q1 25 | 45.0% | -26.5% | ||
| Q4 24 | 53.1% | -1.2% | ||
| Q3 24 | -23.3% | -23.7% | ||
| Q2 24 | 40.4% | -14.8% |
资本支出强度AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | 6.6% | 0.8% | ||
| Q3 25 | 6.3% | 1.1% | ||
| Q2 25 | 6.0% | 1.4% | ||
| Q1 25 | 4.5% | 0.1% | ||
| Q4 24 | 5.0% | 1.7% | ||
| Q3 24 | 4.7% | 1.5% | ||
| Q2 24 | 5.8% | 2.6% |
现金转化率AXPPLBY
| Q1 26 | — | — | ||
| Q4 25 | 1.25× | 0.39× | ||
| Q3 25 | 2.15× | 22.02× | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 1.84× | — | ||
| Q4 24 | 2.66× | — | ||
| Q3 24 | -0.72× | — | ||
| Q2 24 | 1.50× | — |
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
AXP
| Discount revenue | $9.5M | 50% |
| Other | $8.9M | 47% |
| Deposits with banks and other | $512.0K | 3% |
PLBY
| Transferred At Point In Time | $22.2M | 64% |
| Trademark Licensing | $6.5M | 19% |
| Related Party | $5.0M | 14% |
| Other | $1.1M | 3% |
