vs
莱夫 Nation 娱乐（LIVE）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
莱夫 Nation 娱乐的季度营收约是花花公子的3.1倍（$108.5M vs $34.9M）。花花公子净利率更高（10.3% vs -0.1%，领先10.3%）。花花公子同比增速更快（4.2% vs -2.7%）。莱夫 Nation 娱乐自由现金流更多（$8.5M vs $1.1M）。过去两年花花公子的营收复合增速更高（11.0% vs -4.3%）
Live Nation Entertainment是一家美国跨国娱乐企业，2010年由Live Nation与Ticketmaster合并而成。目前两大品牌均作为子品牌运营，在全球范围内推广现场娱乐活动并提供票务销售服务，同时还自营多处娱乐场馆，并为音乐人提供艺人经纪服务。
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。
LIVE vs PLBY — 直观对比
营收规模更大
LIVE
是对方的3.1倍
$34.9M
营收增速更快
PLBY
高出6.9%
-2.7%
净利率更高
PLBY
高出10.3%
-0.1%
自由现金流更多
LIVE
多$7.4M
$1.1M
两年增速更快
PLBY
近两年复合增速
-4.3%
损益表 — Q1 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $108.5M | $34.9M |
| 净利润 | $-64.0K | $3.6M |
| 毛利率 | 32.6% | 73.3% |
| 营业利润率 | 3.2% | 7.9% |
| 净利率 | -0.1% | 10.3% |
| 营收同比 | -2.7% | 4.2% |
| 净利润同比 | -113.0% | 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LIVEPLBY
| Q4 25 | $108.5M | $34.9M | ||
| Q3 25 | $113.9M | $29.0M | ||
| Q2 25 | $112.5M | $28.1M | ||
| Q1 25 | $107.0M | $28.9M | ||
| Q4 24 | $111.5M | $33.5M | ||
| Q3 24 | $112.7M | $29.4M | ||
| Q2 24 | $123.9M | $24.9M | ||
| Q1 24 | $118.6M | $28.3M |
净利润LIVEPLBY
| Q4 25 | $-64.0K | $3.6M | ||
| Q3 25 | $997.0K | $460.0K | ||
| Q2 25 | $5.4M | $-7.7M | ||
| Q1 25 | $15.9M | $-9.0M | ||
| Q4 24 | $492.0K | $-12.5M | ||
| Q3 24 | $-19.9M | $-33.8M | ||
| Q2 24 | $-2.9M | $-16.7M | ||
| Q1 24 | $-3.3M | $-16.4M |
毛利率LIVEPLBY
| Q4 25 | 32.6% | 73.3% | ||
| Q3 25 | 32.4% | 76.0% | ||
| Q2 25 | 34.0% | 65.4% | ||
| Q1 25 | 32.8% | 68.6% | ||
| Q4 24 | 31.7% | 70.8% | ||
| Q3 24 | 31.9% | 61.0% | ||
| Q2 24 | 29.9% | 67.8% | ||
| Q1 24 | 29.9% | 55.8% |
营业利润率LIVEPLBY
| Q4 25 | 3.2% | 7.9% | ||
| Q3 25 | 3.3% | 4.7% | ||
| Q2 25 | 7.1% | -20.9% | ||
| Q1 25 | 2.0% | -21.7% | ||
| Q4 24 | 0.7% | -13.3% | ||
| Q3 24 | -15.5% | -96.0% | ||
| Q2 24 | 0.9% | -37.0% | ||
| Q1 24 | -0.7% | -31.5% |
净利率LIVEPLBY
| Q4 25 | -0.1% | 10.3% | ||
| Q3 25 | 0.9% | 1.6% | ||
| Q2 25 | 4.8% | -27.3% | ||
| Q1 25 | 14.8% | -31.3% | ||
| Q4 24 | 0.4% | -37.4% | ||
| Q3 24 | -17.6% | -114.7% | ||
| Q2 24 | -2.3% | -66.9% | ||
| Q1 24 | -2.8% | -58.1% |
每股收益（稀释后）LIVEPLBY
| Q4 25 | $-0.02 | $0.05 | ||
| Q3 25 | $-1.52 | $0.00 | ||
| Q2 25 | $1.24 | $-0.08 | ||
| Q1 25 | $5.05 | $-0.10 | ||
| Q4 24 | $0.16 | $-0.13 | ||
| Q3 24 | $-6.31 | $-0.45 | ||
| Q2 24 | $-0.91 | $-0.23 | ||
| Q1 24 | $-1.04 | $-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 | — | $174.2M |
| 股东权益账面价值 | $95.3M | $18.4M |
| 总资产 | $389.2M | $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LIVEPLBY
| Q4 25 | — | $37.8M | ||
| Q3 25 | — | $27.5M | ||
| Q2 25 | — | $19.6M | ||
| Q1 25 | — | $23.7M | ||
| Q4 24 | — | $30.9M | ||
| Q3 24 | — | $9.5M | ||
| Q2 24 | — | $16.9M | ||
| Q1 24 | — | $19.0M |
总债务LIVEPLBY
| Q4 25 | — | $174.2M | ||
| Q3 25 | — | $176.8M | ||
| Q2 25 | — | $177.5M | ||
| Q1 25 | — | $176.3M | ||
| Q4 24 | — | $176.6M | ||
| Q3 24 | — | $200.0M | ||
| Q2 24 | — | $196.3M | ||
| Q1 24 | — | $193.4M |
股东权益LIVEPLBY
| Q4 25 | $95.3M | $18.4M | ||
| Q3 25 | $95.3M | $3.8M | ||
| Q2 25 | $94.3M | $-17.5M | ||
| Q1 25 | $88.9M | $-11.4M | ||
| Q4 24 | $73.3M | $-7.7M | ||
| Q3 24 | $72.9M | $-15.7M | ||
| Q2 24 | $92.7M | $15.7M | ||
| Q1 24 | $95.9M | $29.5M |
总资产LIVEPLBY
| Q4 25 | $389.2M | $292.4M | ||
| Q3 25 | $386.4M | $278.3M | ||
| Q2 25 | $387.5M | $264.1M | ||
| Q1 25 | $393.6M | $270.6M | ||
| Q4 24 | $395.5M | $284.7M | ||
| Q3 24 | $407.5M | $271.5M | ||
| Q2 24 | $436.8M | $301.8M | ||
| Q1 24 | $433.9M | $309.1M |
负债/权益比LIVEPLBY
| Q4 25 | — | 9.48× | ||
| Q3 25 | — | 46.86× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 12.51× | ||
| Q1 24 | — | 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 | $9.8M | $1.4M |
| 自由现金流经营现金流 - 资本支出 | $8.5M | $1.1M |
| 自由现金流率自由现金流/营收 | 7.8% | 3.2% |
| 资本支出强度资本支出/营收 | 1.2% | 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 | $21.9M | $-1.0M |
8季度趋势，按日历期对齐
经营现金流LIVEPLBY
| Q4 25 | $9.8M | $1.4M | ||
| Q3 25 | $6.8M | $10.1M | ||
| Q2 25 | $12.3M | $-3.9M | ||
| Q1 25 | $231.0K | $-7.6M | ||
| Q4 24 | $9.4M | $161.0K | ||
| Q3 24 | $6.7M | $-6.5M | ||
| Q2 24 | $11.7M | $-3.0M | ||
| Q1 24 | $-5.7M | $-9.8M |
自由现金流LIVEPLBY
| Q4 25 | $8.5M | $1.1M | ||
| Q3 25 | $4.8M | $9.8M | ||
| Q2 25 | $10.8M | $-4.3M | ||
| Q1 25 | $-2.3M | $-7.7M | ||
| Q4 24 | $7.6M | $-401.0K | ||
| Q3 24 | $3.3M | $-7.0M | ||
| Q2 24 | $10.1M | $-3.7M | ||
| Q1 24 | $-7.5M | $-10.3M |
自由现金流率LIVEPLBY
| Q4 25 | 7.8% | 3.2% | ||
| Q3 25 | 4.2% | 33.8% | ||
| Q2 25 | 9.6% | -15.2% | ||
| Q1 25 | -2.1% | -26.5% | ||
| Q4 24 | 6.8% | -1.2% | ||
| Q3 24 | 2.9% | -23.7% | ||
| Q2 24 | 8.2% | -14.8% | ||
| Q1 24 | -6.3% | -36.5% |
资本支出强度LIVEPLBY
| Q4 25 | 1.2% | 0.8% | ||
| Q3 25 | 1.7% | 1.1% | ||
| Q2 25 | 1.3% | 1.4% | ||
| Q1 25 | 2.3% | 0.1% | ||
| Q4 24 | 1.6% | 1.7% | ||
| Q3 24 | 3.1% | 1.5% | ||
| Q2 24 | 1.3% | 2.6% | ||
| Q1 24 | 1.4% | 2.1% |
现金转化率LIVEPLBY
| Q4 25 | — | 0.39× | ||
| Q3 25 | 6.78× | 22.02× | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 19.11× | — | ||
| 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
LIVE
| Steel Manufacturing Segment | $31.9M | 29% |
| Flooring Manufacturing Segment | $28.9M | 27% |
| Retail Flooring Segment | $25.3M | 23% |
| Retail Entertainment Segment | $23.6M | 22% |
PLBY
| Transferred At Point In Time | $22.2M | 64% |
| Trademark Licensing | $6.5M | 19% |
| Related Party | $5.0M | 14% |
| Other | $1.1M | 3% |
