vs
i3 Verticals, Inc.（IIIV）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
i3 Verticals, Inc.的季度营收约是花花公子的1.5倍（$52.7M vs $34.9M），花花公子净利率更高（10.3% vs 0.9%，领先9.4%），花花公子同比增速更快（4.2% vs -14.6%），i3 Verticals, Inc.自由现金流更多（$13.8M vs $1.1M），过去两年花花公子的营收复合增速更高（11.0% vs -4.7%）
Prusa i3是捷克Prusa Research公司生产的熔融沉积成型3D打印机系列，以Original Prusa i3为注册商标推出，同时也是RepRap项目的组成部分。2016年该系列就被评为全球使用率最高的3D打印机，最早由Josef Průša在2012年完成设计，2015年正式推出商用套件版本，目前最新型号同时提供散件套件和原厂组装版本，具备性价比高、易操作的优势。
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。
IIIV vs PLBY — 直观对比
营收规模更大
IIIV
是对方的1.5倍
$34.9M
营收增速更快
PLBY
高出18.9%
-14.6%
净利率更高
PLBY
高出9.4%
0.9%
自由现金流更多
IIIV
多$12.7M
$1.1M
两年增速更快
PLBY
近两年复合增速
-4.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $52.7M | $34.9M |
| 净利润 | $484.0K | $3.6M |
| 毛利率 | — | 73.3% |
| 营业利润率 | 3.1% | 7.9% |
| 净利率 | 0.9% | 10.3% |
| 营收同比 | -14.6% | 4.2% |
| 净利润同比 | -76.5% | 128.6% |
| 每股收益（稀释后） | $0.02 | $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IIIVPLBY
| Q4 25 | $52.7M | $34.9M | ||
| Q3 25 | $46.0M | $29.0M | ||
| Q2 25 | $51.9M | $28.1M | ||
| Q1 25 | $63.1M | $28.9M | ||
| Q4 24 | $52.2M | $33.5M | ||
| Q3 24 | $32.0M | $29.4M | ||
| Q2 24 | $46.2M | $24.9M | ||
| Q1 24 | $58.0M | $28.3M |
净利润IIIVPLBY
| Q4 25 | $484.0K | $3.6M | ||
| Q3 25 | $3.1M | $460.0K | ||
| Q2 25 | $12.9M | $-7.7M | ||
| Q1 25 | $-154.0K | $-9.0M | ||
| Q4 24 | $2.1M | $-12.5M | ||
| Q3 24 | $117.9M | $-33.8M | ||
| Q2 24 | $-7.5M | $-16.7M | ||
| Q1 24 | $1.9M | $-16.4M |
毛利率IIIVPLBY
| 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% | ||
| Q1 24 | — | 55.8% |
营业利润率IIIVPLBY
| Q4 25 | 3.1% | 7.9% | ||
| Q3 25 | 3.2% | 4.7% | ||
| Q2 25 | -9.3% | -20.9% | ||
| Q1 25 | 8.0% | -21.7% | ||
| Q4 24 | 3.9% | -13.3% | ||
| Q3 24 | 10.6% | -96.0% | ||
| Q2 24 | -2.8% | -37.0% | ||
| Q1 24 | 3.4% | -31.5% |
净利率IIIVPLBY
| Q4 25 | 0.9% | 10.3% | ||
| Q3 25 | 6.7% | 1.6% | ||
| Q2 25 | 24.8% | -27.3% | ||
| Q1 25 | -0.2% | -31.3% | ||
| Q4 24 | 3.9% | -37.4% | ||
| Q3 24 | 368.2% | -114.7% | ||
| Q2 24 | -16.3% | -66.9% | ||
| Q1 24 | 3.2% | -58.1% |
每股收益（稀释后）IIIVPLBY
| Q4 25 | $0.02 | $0.05 | ||
| Q3 25 | $0.14 | $0.00 | ||
| Q2 25 | $0.50 | $-0.08 | ||
| Q1 25 | $0.00 | $-0.10 | ||
| Q4 24 | $0.08 | $-0.13 | ||
| Q3 24 | $4.93 | $-0.45 | ||
| Q2 24 | $-0.32 | $-0.23 | ||
| Q1 24 | $0.08 | $-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 | $37.5M | $37.8M |
| 总债务越低越好 | — | $174.2M |
| 股东权益账面价值 | $358.5M | $18.4M |
| 总资产 | $595.9M | $292.4M |
| 负债/权益比越低杠杆越低 | — | 9.48× |
8季度趋势，按日历期对齐
现金及短期投资IIIVPLBY
| Q4 25 | $37.5M | $37.8M | ||
| Q3 25 | $66.7M | $27.5M | ||
| Q2 25 | $55.5M | $19.6M | ||
| Q1 25 | $7.7M | $23.7M | ||
| Q4 24 | $85.6M | $30.9M | ||
| Q3 24 | $86.5M | $9.5M | ||
| Q2 24 | $9.7M | $16.9M | ||
| Q1 24 | $3.1M | $19.0M |
总债务IIIVPLBY
| Q4 25 | — | $174.2M | ||
| Q3 25 | $0 | $176.8M | ||
| Q2 25 | $0 | $177.5M | ||
| Q1 25 | $12.0M | $176.3M | ||
| Q4 24 | $26.2M | $176.6M | ||
| Q3 24 | $26.2M | $200.0M | ||
| Q2 24 | $374.1M | $196.3M | ||
| Q1 24 | $369.6M | $193.4M |
股东权益IIIVPLBY
| Q4 25 | $358.5M | $18.4M | ||
| Q3 25 | $389.6M | $3.8M | ||
| Q2 25 | $383.3M | $-17.5M | ||
| Q1 25 | $385.2M | $-11.4M | ||
| Q4 24 | $375.0M | $-7.7M | ||
| Q3 24 | $379.7M | $-15.7M | ||
| Q2 24 | $249.7M | $15.7M | ||
| Q1 24 | $249.3M | $29.5M |
总资产IIIVPLBY
| Q4 25 | $595.9M | $292.4M | ||
| Q3 25 | $638.4M | $278.3M | ||
| Q2 25 | $623.3M | $264.1M | ||
| Q1 25 | $646.4M | $270.6M | ||
| Q4 24 | $726.2M | $284.7M | ||
| Q3 24 | $730.7M | $271.5M | ||
| Q2 24 | $861.7M | $301.8M | ||
| Q1 24 | $625.8M | $309.1M |
负债/权益比IIIVPLBY
| Q4 25 | — | 9.48× | ||
| Q3 25 | 0.00× | 46.86× | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.07× | — | ||
| Q3 24 | 0.07× | — | ||
| Q2 24 | 1.50× | 12.51× | ||
| Q1 24 | 1.48× | 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 | $14.1M | $1.4M |
| 自由现金流经营现金流 - 资本支出 | $13.8M | $1.1M |
| 自由现金流率自由现金流/营收 | 26.2% | 3.2% |
| 资本支出强度资本支出/营收 | 0.6% | 0.8% |
| 现金转化率经营现金流/净利润 | 29.18× | 0.39× |
| 过去12个月自由现金流最近4个季度 | $6.5M | $-1.0M |
8季度趋势，按日历期对齐
经营现金流IIIVPLBY
| Q4 25 | $14.1M | $1.4M | ||
| Q3 25 | $14.0M | $10.1M | ||
| Q2 25 | $7.4M | $-3.9M | ||
| Q1 25 | $-27.1M | $-7.6M | ||
| Q4 24 | $11.5M | $161.0K | ||
| Q3 24 | $15.1M | $-6.5M | ||
| Q2 24 | $8.1M | $-3.0M | ||
| Q1 24 | $10.7M | $-9.8M |
自由现金流IIIVPLBY
| Q4 25 | $13.8M | $1.1M | ||
| Q3 25 | $13.5M | $9.8M | ||
| Q2 25 | $6.8M | $-4.3M | ||
| Q1 25 | $-27.6M | $-7.7M | ||
| Q4 24 | $11.0M | $-401.0K | ||
| Q3 24 | $14.6M | $-7.0M | ||
| Q2 24 | $7.2M | $-3.7M | ||
| Q1 24 | $9.9M | $-10.3M |
自由现金流率IIIVPLBY
| Q4 25 | 26.2% | 3.2% | ||
| Q3 25 | 29.5% | 33.8% | ||
| Q2 25 | 13.1% | -15.2% | ||
| Q1 25 | -43.8% | -26.5% | ||
| Q4 24 | 21.1% | -1.2% | ||
| Q3 24 | 45.6% | -23.7% | ||
| Q2 24 | 15.6% | -14.8% | ||
| Q1 24 | 17.1% | -36.5% |
资本支出强度IIIVPLBY
| Q4 25 | 0.6% | 0.8% | ||
| Q3 25 | 0.9% | 1.1% | ||
| Q2 25 | 1.0% | 1.4% | ||
| Q1 25 | 0.8% | 0.1% | ||
| Q4 24 | 0.9% | 1.7% | ||
| Q3 24 | 1.7% | 1.5% | ||
| Q2 24 | 1.9% | 2.6% | ||
| Q1 24 | 1.4% | 2.1% |
现金转化率IIIVPLBY
| Q4 25 | 29.18× | 0.39× | ||
| Q3 25 | 4.52× | 22.02× | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 5.59× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 5.72× | — |
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
IIIV
| License And Service | $35.7M | 68% |
| Proprietary Payments Revenue | $14.5M | 27% |
| Other Revenue | $2.5M | 5% |
PLBY
| Transferred At Point In Time | $22.2M | 64% |
| Trademark Licensing | $6.5M | 19% |
| Related Party | $5.0M | 14% |
| Other | $1.1M | 3% |
