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CENTERSPACE（CSR）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
CENTERSPACE的季度营收约是花花公子的1.9倍（$66.6M vs $34.9M），花花公子净利率更高（10.3% vs -27.7%，领先37.9%），花花公子同比增速更快（4.2% vs 0.3%），CENTERSPACE自由现金流更多（$64.3M vs $1.1M），过去两年花花公子的营收复合增速更高（11.0% vs 1.6%）
Centerspace是一家专注于多户住宅物业持有、运营与开发的房地产投资企业，核心业务覆盖美国中西部及落基山西部区域，面向不同租户群体提供经济型及高端住宅选择，重视租户体验与资产长期价值增长。
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。
CSR vs PLBY — 直观对比
营收规模更大
CSR
是对方的1.9倍
$34.9M
营收增速更快
PLBY
高出3.9%
0.3%
净利率更高
PLBY
高出37.9%
-27.7%
自由现金流更多
CSR
多$63.2M
$1.1M
两年增速更快
PLBY
近两年复合增速
1.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $66.6M | $34.9M |
| 净利润 | $-18.4M | $3.6M |
| 毛利率 | 96.5% | 73.3% |
| 营业利润率 | -15.9% | 7.9% |
| 净利率 | -27.7% | 10.3% |
| 营收同比 | 0.3% | 4.2% |
| 净利润同比 | -262.9% | 128.6% |
| 每股收益（稀释后） | $-1.08 | $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CSRPLBY
| Q4 25 | $66.6M | $34.9M | ||
| Q3 25 | $71.4M | $29.0M | ||
| Q2 25 | $68.5M | $28.1M | ||
| Q1 25 | $67.1M | $28.9M | ||
| Q4 24 | $66.4M | $33.5M | ||
| Q3 24 | $65.0M | $29.4M | ||
| Q2 24 | $65.0M | $24.9M | ||
| Q1 24 | $64.5M | $28.3M |
净利润CSRPLBY
| Q4 25 | $-18.4M | $3.6M | ||
| Q3 25 | $53.8M | $460.0K | ||
| Q2 25 | $-14.5M | $-7.7M | ||
| Q1 25 | $-3.7M | $-9.0M | ||
| Q4 24 | $-5.1M | $-12.5M | ||
| Q3 24 | $-1.0M | $-33.8M | ||
| Q2 24 | $-1.3M | $-16.7M | ||
| Q1 24 | $-3.9M | $-16.4M |
毛利率CSRPLBY
| Q4 25 | 96.5% | 73.3% | ||
| Q3 25 | 96.5% | 76.0% | ||
| Q2 25 | 96.5% | 65.4% | ||
| Q1 25 | 96.4% | 68.6% | ||
| Q4 24 | 96.5% | 70.8% | ||
| Q3 24 | 96.6% | 61.0% | ||
| Q2 24 | 96.6% | 67.8% | ||
| Q1 24 | 96.4% | 55.8% |
营业利润率CSRPLBY
| Q4 25 | -15.9% | 7.9% | ||
| Q3 25 | — | 4.7% | ||
| Q2 25 | -9.9% | -20.9% | ||
| Q1 25 | 7.1% | -21.7% | ||
| Q4 24 | 4.3% | -13.3% | ||
| Q3 24 | 9.8% | -96.0% | ||
| Q2 24 | 11.1% | -37.0% | ||
| Q1 24 | 6.3% | -31.5% |
净利率CSRPLBY
| Q4 25 | -27.7% | 10.3% | ||
| Q3 25 | 75.3% | 1.6% | ||
| Q2 25 | -21.2% | -27.3% | ||
| Q1 25 | -5.6% | -31.3% | ||
| Q4 24 | -7.6% | -37.4% | ||
| Q3 24 | -1.6% | -114.7% | ||
| Q2 24 | -2.0% | -66.9% | ||
| Q1 24 | -6.1% | -58.1% |
每股收益（稀释后）CSRPLBY
| Q4 25 | $-1.08 | $0.05 | ||
| Q3 25 | $3.19 | $0.00 | ||
| Q2 25 | $-0.87 | $-0.08 | ||
| Q1 25 | $-0.22 | $-0.10 | ||
| Q4 24 | $-0.31 | $-0.13 | ||
| Q3 24 | $-0.40 | $-0.45 | ||
| Q2 24 | $-0.19 | $-0.23 | ||
| Q1 24 | $-0.37 | $-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 | $12.8M | $37.8M |
| 总债务越低越好 | $1.0B | $174.2M |
| 股东权益账面价值 | $719.2M | $18.4M |
| 总资产 | $1.9B | $292.4M |
| 负债/权益比越低杠杆越低 | 1.42× | 9.48× |
8季度趋势，按日历期对齐
现金及短期投资CSRPLBY
| Q4 25 | $12.8M | $37.8M | ||
| Q3 25 | $12.9M | $27.5M | ||
| Q2 25 | $12.4M | $19.6M | ||
| Q1 25 | $11.9M | $23.7M | ||
| Q4 24 | $12.0M | $30.9M | ||
| Q3 24 | $14.5M | $9.5M | ||
| Q2 24 | $14.3M | $16.9M | ||
| Q1 24 | $12.7M | $19.0M |
总债务CSRPLBY
| Q4 25 | $1.0B | $174.2M | ||
| Q3 25 | $1.1B | $176.8M | ||
| Q2 25 | $1.1B | $177.5M | ||
| Q1 25 | $955.5M | $176.3M | ||
| Q4 24 | $955.4M | $176.6M | ||
| Q3 24 | $921.3M | $200.0M | ||
| Q2 24 | $931.7M | $196.3M | ||
| Q1 24 | $929.1M | $193.4M |
股东权益CSRPLBY
| Q4 25 | $719.2M | $18.4M | ||
| Q3 25 | $748.6M | $3.8M | ||
| Q2 25 | $710.1M | $-17.5M | ||
| Q1 25 | $636.8M | $-11.4M | ||
| Q4 24 | $752.0M | $-7.7M | ||
| Q3 24 | $672.5M | $-15.7M | ||
| Q2 24 | $680.7M | $15.7M | ||
| Q1 24 | $688.1M | $29.5M |
总资产CSRPLBY
| Q4 25 | $1.9B | $292.4M | ||
| Q3 25 | $2.1B | $278.3M | ||
| Q2 25 | $2.0B | $264.1M | ||
| Q1 25 | $1.9B | $270.6M | ||
| Q4 24 | $1.9B | $284.7M | ||
| Q3 24 | $1.9B | $271.5M | ||
| Q2 24 | $1.9B | $301.8M | ||
| Q1 24 | $1.9B | $309.1M |
负债/权益比CSRPLBY
| Q4 25 | 1.42× | 9.48× | ||
| Q3 25 | 1.53× | 46.86× | ||
| Q2 25 | 1.57× | — | ||
| Q1 25 | 1.50× | — | ||
| Q4 24 | 1.27× | — | ||
| Q3 24 | 1.37× | — | ||
| Q2 24 | 1.37× | 12.51× | ||
| Q1 24 | 1.35× | 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 | $98.5M | $1.4M |
| 自由现金流经营现金流 - 资本支出 | $64.3M | $1.1M |
| 自由现金流率自由现金流/营收 | 96.5% | 3.2% |
| 资本支出强度资本支出/营收 | 51.3% | 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 | $125.9M | $-1.0M |
8季度趋势，按日历期对齐
经营现金流CSRPLBY
| Q4 25 | $98.5M | $1.4M | ||
| Q3 25 | $35.1M | $10.1M | ||
| Q2 25 | $25.3M | $-3.9M | ||
| Q1 25 | $25.4M | $-7.6M | ||
| Q4 24 | $98.2M | $161.0K | ||
| Q3 24 | $32.3M | $-6.5M | ||
| Q2 24 | $22.9M | $-3.0M | ||
| Q1 24 | $24.4M | $-9.8M |
自由现金流CSRPLBY
| Q4 25 | $64.3M | $1.1M | ||
| Q3 25 | $25.7M | $9.8M | ||
| Q2 25 | $15.5M | $-4.3M | ||
| Q1 25 | $20.4M | $-7.7M | ||
| Q4 24 | $41.6M | $-401.0K | ||
| Q3 24 | $20.5M | $-7.0M | ||
| Q2 24 | $9.1M | $-3.7M | ||
| Q1 24 | $2.6M | $-10.3M |
自由现金流率CSRPLBY
| Q4 25 | 96.5% | 3.2% | ||
| Q3 25 | 36.0% | 33.8% | ||
| Q2 25 | 22.7% | -15.2% | ||
| Q1 25 | 30.4% | -26.5% | ||
| Q4 24 | 62.6% | -1.2% | ||
| Q3 24 | 31.5% | -23.7% | ||
| Q2 24 | 14.0% | -14.8% | ||
| Q1 24 | 4.0% | -36.5% |
资本支出强度CSRPLBY
| Q4 25 | 51.3% | 0.8% | ||
| Q3 25 | 13.1% | 1.1% | ||
| Q2 25 | 14.2% | 1.4% | ||
| Q1 25 | 7.5% | 0.1% | ||
| Q4 24 | 85.3% | 1.7% | ||
| Q3 24 | 18.2% | 1.5% | ||
| Q2 24 | 21.2% | 2.6% | ||
| Q1 24 | 33.8% | 2.1% |
现金转化率CSRPLBY
| Q4 25 | — | 0.39× | ||
| Q3 25 | 0.65× | 22.02× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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
CSR
| Multi Family Residential | $57.3M | 86% |
| Other | $8.1M | 12% |
| Other Property Revenue | $1.2M | 2% |
PLBY
| Transferred At Point In Time | $22.2M | 64% |
| Trademark Licensing | $6.5M | 19% |
| Related Party | $5.0M | 14% |
| Other | $1.1M | 3% |
