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KADANT INC（KAI）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KADANT INC的1.7倍（$448.2M vs $271.6M），KADANT INC净利率更高（10.2% vs -9.4%，领先19.6%），KADANT INC同比增速更快（-0.0% vs -1.1%），KADANT INC自由现金流更多（$44.1M vs $-20.6M），过去两年KADANT INC的营收复合增速更高（6.7% vs -13.5%）
Kadant Inc.创立于1991年，最初是Thermo Electron的子公司，部分股权私有、部分公开交易，2001年完成完全分拆并启用现名。公司服务于造纸、废纸回收、木材加工、物料搬运等多个加工领域，是业务覆盖亚洲、欧洲、北美、南美的跨国企业。
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。
KAI vs PLAY — 直观对比
营收规模更大
PLAY
是对方的1.7倍
$271.6M
营收增速更快
KAI
高出1.0%
-1.1%
净利率更高
KAI
高出19.6%
-9.4%
自由现金流更多
KAI
多$64.7M
$-20.6M
两年增速更快
KAI
近两年复合增速
-13.5%
损益表 — Q3 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $271.6M | $448.2M |
| 净利润 | $27.7M | $-42.1M |
| 毛利率 | 45.2% | 85.8% |
| 营业利润率 | 15.7% | -3.6% |
| 净利率 | 10.2% | -9.4% |
| 营收同比 | -0.0% | -1.1% |
| 净利润同比 | -12.2% | -28.7% |
| 每股收益（稀释后） | $2.35 | $-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
营收KAIPLAY
| Q4 25 | — | $448.2M | ||
| Q3 25 | $271.6M | $557.4M | ||
| Q2 25 | $255.3M | $567.7M | ||
| Q1 25 | $239.2M | $534.5M | ||
| Q4 24 | $258.0M | $453.0M | ||
| Q3 24 | $271.6M | $557.1M | ||
| Q2 24 | $274.8M | $588.1M | ||
| Q1 24 | $249.0M | $599.0M |
净利润KAIPLAY
| Q4 25 | — | $-42.1M | ||
| Q3 25 | $27.7M | $11.4M | ||
| Q2 25 | $26.2M | $21.7M | ||
| Q1 25 | $24.1M | $9.3M | ||
| Q4 24 | $24.0M | $-32.7M | ||
| Q3 24 | $31.6M | $40.3M | ||
| Q2 24 | $31.3M | $41.4M | ||
| Q1 24 | $24.7M | $36.1M |
毛利率KAIPLAY
| Q4 25 | — | 85.8% | ||
| Q3 25 | 45.2% | 86.3% | ||
| Q2 25 | 45.9% | 85.5% | ||
| Q1 25 | 46.1% | 85.5% | ||
| Q4 24 | 43.4% | 85.0% | ||
| Q3 24 | 44.7% | 85.3% | ||
| Q2 24 | 44.4% | 85.2% | ||
| Q1 24 | 44.6% | 84.1% |
营业利润率KAIPLAY
| Q4 25 | — | -3.6% | ||
| Q3 25 | 15.7% | 9.5% | ||
| Q2 25 | 15.4% | 11.1% | ||
| Q1 25 | 14.9% | 8.3% | ||
| Q4 24 | 14.3% | 1.4% | ||
| Q3 24 | 18.0% | 15.2% | ||
| Q2 24 | 17.6% | 14.5% | ||
| Q1 24 | 14.8% | 14.9% |
净利率KAIPLAY
| Q4 25 | — | -9.4% | ||
| Q3 25 | 10.2% | 2.0% | ||
| Q2 25 | 10.2% | 3.8% | ||
| Q1 25 | 10.1% | 1.7% | ||
| Q4 24 | 9.3% | -7.2% | ||
| Q3 24 | 11.6% | 7.2% | ||
| Q2 24 | 11.4% | 7.0% | ||
| Q1 24 | 9.9% | 6.0% |
每股收益（稀释后）KAIPLAY
| Q4 25 | — | $-1.22 | ||
| Q3 25 | $2.35 | $0.32 | ||
| Q2 25 | $2.22 | $0.62 | ||
| Q1 25 | $2.04 | $0.32 | ||
| Q4 24 | $2.04 | $-0.84 | ||
| Q3 24 | $2.68 | $0.99 | ||
| Q2 24 | $2.66 | $0.99 | ||
| Q1 24 | $2.10 | $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 | $124.5M | $13.6M |
| 总债务越低越好 | $254.6M | $1.6B |
| 股东权益账面价值 | $949.8M | $130.8M |
| 总资产 | $1.5B | $4.1B |
| 负债/权益比越低杠杆越低 | 0.27× | 12.17× |
8季度趋势，按日历期对齐
现金及短期投资KAIPLAY
| Q4 25 | — | $13.6M | ||
| Q3 25 | $124.5M | $12.0M | ||
| Q2 25 | $95.3M | $11.9M | ||
| Q1 25 | $91.7M | $6.9M | ||
| Q4 24 | $94.7M | $8.6M | ||
| Q3 24 | $88.4M | $13.1M | ||
| Q2 24 | $73.8M | $32.1M | ||
| Q1 24 | $81.4M | $37.3M |
总债务KAIPLAY
| Q4 25 | — | $1.6B | ||
| Q3 25 | $254.6M | $1.6B | ||
| Q2 25 | $245.7M | $1.6B | ||
| Q1 25 | $273.5M | $1.5B | ||
| Q4 24 | $285.2M | $1.5B | ||
| Q3 24 | $323.2M | $1.3B | ||
| Q2 24 | $342.0M | $1.3B | ||
| Q1 24 | $306.8M | $1.3B |
股东权益KAIPLAY
| Q4 25 | — | $130.8M | ||
| Q3 25 | $949.8M | $166.2M | ||
| Q2 25 | $926.0M | $146.8M | ||
| Q1 25 | $876.0M | $145.8M | ||
| Q4 24 | $847.1M | $226.6M | ||
| Q3 24 | $851.7M | $284.4M | ||
| Q2 24 | $807.7M | $292.5M | ||
| Q1 24 | $782.7M | $251.2M |
总资产KAIPLAY
| Q4 25 | — | $4.1B | ||
| Q3 25 | $1.5B | $4.1B | ||
| Q2 25 | $1.5B | $4.1B | ||
| Q1 25 | $1.4B | $4.0B | ||
| Q4 24 | $1.4B | $3.9B | ||
| Q3 24 | $1.5B | $3.8B | ||
| Q2 24 | $1.5B | $3.8B | ||
| Q1 24 | $1.4B | $3.8B |
负债/权益比KAIPLAY
| Q4 25 | — | 12.17× | ||
| Q3 25 | 0.27× | 9.57× | ||
| Q2 25 | 0.27× | 10.98× | ||
| Q1 25 | 0.31× | 10.45× | ||
| Q4 24 | 0.34× | 6.58× | ||
| Q3 24 | 0.38× | 4.72× | ||
| Q2 24 | 0.42× | 4.58× | ||
| Q1 24 | 0.39× | 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 | $47.3M | $58.0M |
| 自由现金流经营现金流 - 资本支出 | $44.1M | $-20.6M |
| 自由现金流率自由现金流/营收 | 16.2% | -4.6% |
| 资本支出强度资本支出/营收 | 1.2% | 17.5% |
| 现金转化率经营现金流/净利润 | 1.70× | — |
| 过去12个月自由现金流最近4个季度 | $145.9M | $-195.6M |
8季度趋势，按日历期对齐
经营现金流KAIPLAY
| Q4 25 | — | $58.0M | ||
| Q3 25 | $47.3M | $34.0M | ||
| Q2 25 | $40.5M | $95.8M | ||
| Q1 25 | $22.8M | $108.9M | ||
| Q4 24 | $51.9M | $-7.2M | ||
| Q3 24 | $52.5M | $101.8M | ||
| Q2 24 | $28.1M | $108.8M | ||
| Q1 24 | $22.8M | $97.2M |
自由现金流KAIPLAY
| Q4 25 | — | $-20.6M | ||
| Q3 25 | $44.1M | $-55.2M | ||
| Q2 25 | $36.5M | $-58.8M | ||
| Q1 25 | $19.0M | $-61.0M | ||
| Q4 24 | $46.3M | $-138.4M | ||
| Q3 24 | $48.3M | $-14.3M | ||
| Q2 24 | $23.1M | $-4.2M | ||
| Q1 24 | $16.6M | $-25.4M |
自由现金流率KAIPLAY
| Q4 25 | — | -4.6% | ||
| Q3 25 | 16.2% | -9.9% | ||
| Q2 25 | 14.3% | -10.4% | ||
| Q1 25 | 7.9% | -11.4% | ||
| Q4 24 | 17.9% | -30.6% | ||
| Q3 24 | 17.8% | -2.6% | ||
| Q2 24 | 8.4% | -0.7% | ||
| Q1 24 | 6.7% | -4.2% |
资本支出强度KAIPLAY
| Q4 25 | — | 17.5% | ||
| Q3 25 | 1.2% | 16.0% | ||
| Q2 25 | 1.6% | 27.2% | ||
| Q1 25 | 1.6% | 31.8% | ||
| Q4 24 | 2.2% | 29.0% | ||
| Q3 24 | 1.5% | 20.8% | ||
| Q2 24 | 1.8% | 19.2% | ||
| Q1 24 | 2.5% | 20.5% |
现金转化率KAIPLAY
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | 2.98× | ||
| Q2 25 | 1.55× | 4.41× | ||
| Q1 25 | 0.95× | 11.71× | ||
| Q4 24 | 2.16× | — | ||
| Q3 24 | 1.66× | 2.53× | ||
| Q2 24 | 0.90× | 2.63× | ||
| Q1 24 | 0.92× | 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
KAI
| Flow Control | $94.8M | 35% |
| Capital | $83.2M | 31% |
| Material Handling Systems | $70.3M | 26% |
| Transferred Over Time | $17.1M | 6% |
| Other | $6.1M | 2% |
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% |
