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美泰（MAT）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
美泰的季度营收约是Dave & Buster's Entertainment, Inc.的1.9倍（$862.2M vs $448.2M），美泰净利率更高（7.1% vs -9.4%，领先16.5%），美泰同比增速更快（4.3% vs -1.1%），Dave & Buster's Entertainment, Inc.自由现金流更多（$-20.6M vs $-88.1M），过去两年美泰的营收复合增速更高（-10.6% vs -13.5%）
美泰是美国知名玩具及娱乐企业，旗下影视制作部门美泰影业运营时间为2018年9月6日至2025年6月2日。其前身为2013年10月16日成立的美泰Playground Productions，更早可追溯至美泰娱乐、美泰工作室等集团原有娱乐业务品牌。
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。
MAT vs PLAY — 直观对比
营收规模更大
MAT
是对方的1.9倍
$448.2M
营收增速更快
MAT
高出5.4%
-1.1%
净利率更高
MAT
高出16.5%
-9.4%
自由现金流更多
PLAY
多$67.5M
$-88.1M
两年增速更快
MAT
近两年复合增速
-13.5%
损益表 — Q1 FY2026 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $862.2M | $448.2M |
| 净利润 | $61.0M | $-42.1M |
| 毛利率 | 44.9% | 85.8% |
| 营业利润率 | — | -3.6% |
| 净利率 | 7.1% | -9.4% |
| 营收同比 | 4.3% | -1.1% |
| 净利润同比 | 251.4% | -28.7% |
| 每股收益（稀释后） | $0.20 | $-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MATPLAY
| Q1 26 | $862.2M | — | ||
| Q4 25 | $1.8B | $448.2M | ||
| Q3 25 | $1.7B | $557.4M | ||
| Q2 25 | $1.0B | $567.7M | ||
| Q1 25 | $826.6M | $534.5M | ||
| Q4 24 | $1.6B | $453.0M | ||
| Q3 24 | $1.8B | $557.1M | ||
| Q2 24 | $1.1B | $588.1M |
净利润MATPLAY
| Q1 26 | $61.0M | — | ||
| Q4 25 | $106.2M | $-42.1M | ||
| Q3 25 | $278.4M | $11.4M | ||
| Q2 25 | $53.4M | $21.7M | ||
| Q1 25 | $-40.3M | $9.3M | ||
| Q4 24 | $140.9M | $-32.7M | ||
| Q3 24 | $372.4M | $40.3M | ||
| Q2 24 | $56.9M | $41.4M |
毛利率MATPLAY
| Q1 26 | 44.9% | — | ||
| Q4 25 | 45.9% | 85.8% | ||
| Q3 25 | 50.0% | 86.3% | ||
| Q2 25 | 50.9% | 85.5% | ||
| Q1 25 | 49.4% | 85.5% | ||
| Q4 24 | 50.7% | 85.0% | ||
| Q3 24 | 53.1% | 85.3% | ||
| Q2 24 | 49.2% | 85.2% |
营业利润率MATPLAY
| Q1 26 | — | — | ||
| Q4 25 | 8.0% | -3.6% | ||
| Q3 25 | 21.9% | 9.5% | ||
| Q2 25 | 7.7% | 11.1% | ||
| Q1 25 | -6.4% | 8.3% | ||
| Q4 24 | 9.6% | 1.4% | ||
| Q3 24 | 26.5% | 15.2% | ||
| Q2 24 | 7.7% | 14.5% |
净利率MATPLAY
| Q1 26 | 7.1% | — | ||
| Q4 25 | 6.0% | -9.4% | ||
| Q3 25 | 16.0% | 2.0% | ||
| Q2 25 | 5.2% | 3.8% | ||
| Q1 25 | -4.9% | 1.7% | ||
| Q4 24 | 8.6% | -7.2% | ||
| Q3 24 | 20.2% | 7.2% | ||
| Q2 24 | 5.3% | 7.0% |
每股收益（稀释后）MATPLAY
| Q1 26 | $0.20 | — | ||
| Q4 25 | $0.32 | $-1.22 | ||
| Q3 25 | $0.88 | $0.32 | ||
| Q2 25 | $0.16 | $0.62 | ||
| Q1 25 | $-0.12 | $0.32 | ||
| Q4 24 | $0.40 | $-0.84 | ||
| Q3 24 | $1.09 | $0.99 | ||
| Q2 24 | $0.17 | $0.99 |
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 | $866.0M | $13.6M |
| 总债务越低越好 | $2.3B | $1.6B |
| 股东权益账面价值 | $2.1B | $130.8M |
| 总资产 | $6.3B | $4.1B |
| 负债/权益比越低杠杆越低 | 1.11× | 12.17× |
8季度趋势，按日历期对齐
现金及短期投资MATPLAY
| Q1 26 | $866.0M | — | ||
| Q4 25 | $1.2B | $13.6M | ||
| Q3 25 | $691.9M | $12.0M | ||
| Q2 25 | $870.5M | $11.9M | ||
| Q1 25 | $1.2B | $6.9M | ||
| Q4 24 | $1.4B | $8.6M | ||
| Q3 24 | $723.5M | $13.1M | ||
| Q2 24 | $722.4M | $32.1M |
总债务MATPLAY
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $1.6B | ||
| Q3 25 | $2.3B | $1.6B | ||
| Q2 25 | $2.3B | $1.6B | ||
| Q1 25 | $2.3B | $1.5B | ||
| Q4 24 | $2.3B | $1.5B | ||
| Q3 24 | $2.3B | $1.3B | ||
| Q2 24 | $2.3B | $1.3B |
股东权益MATPLAY
| Q1 26 | $2.1B | — | ||
| Q4 25 | $2.2B | $130.8M | ||
| Q3 25 | $2.3B | $166.2M | ||
| Q2 25 | $2.2B | $146.8M | ||
| Q1 25 | $2.1B | $145.8M | ||
| Q4 24 | $2.3B | $226.6M | ||
| Q3 24 | $2.3B | $284.4M | ||
| Q2 24 | $2.0B | $292.5M |
总资产MATPLAY
| Q1 26 | $6.3B | — | ||
| Q4 25 | $6.6B | $4.1B | ||
| Q3 25 | $6.6B | $4.1B | ||
| Q2 25 | $6.2B | $4.1B | ||
| Q1 25 | $6.2B | $4.0B | ||
| Q4 24 | $6.5B | $3.9B | ||
| Q3 24 | $6.5B | $3.8B | ||
| Q2 24 | $5.9B | $3.8B |
负债/权益比MATPLAY
| Q1 26 | 1.11× | — | ||
| Q4 25 | 1.04× | 12.17× | ||
| Q3 25 | 1.03× | 9.57× | ||
| Q2 25 | 1.08× | 10.98× | ||
| Q1 25 | 1.10× | 10.45× | ||
| Q4 24 | 1.03× | 6.58× | ||
| Q3 24 | 1.01× | 4.72× | ||
| Q2 24 | 1.18× | 4.58× |
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 | — | $58.0M |
| 自由现金流经营现金流 - 资本支出 | $-88.1M | $-20.6M |
| 自由现金流率自由现金流/营收 | -10.2% | -4.6% |
| 资本支出强度资本支出/营收 | 7.6% | 17.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $-195.6M |
8季度趋势，按日历期对齐
经营现金流MATPLAY
| Q1 26 | — | — | ||
| Q4 25 | $796.6M | $58.0M | ||
| Q3 25 | $72.0M | $34.0M | ||
| Q2 25 | $-300.1M | $95.8M | ||
| Q1 25 | $24.8M | $108.9M | ||
| Q4 24 | $862.1M | $-7.2M | ||
| Q3 24 | $155.8M | $101.8M | ||
| Q2 24 | $-252.9M | $108.8M |
自由现金流MATPLAY
| Q1 26 | $-88.1M | — | ||
| Q4 25 | — | $-20.6M | ||
| Q3 25 | — | $-55.2M | ||
| Q2 25 | — | $-58.8M | ||
| Q1 25 | — | $-61.0M | ||
| Q4 24 | — | $-138.4M | ||
| Q3 24 | — | $-14.3M | ||
| Q2 24 | — | $-4.2M |
自由现金流率MATPLAY
| Q1 26 | -10.2% | — | ||
| Q4 25 | — | -4.6% | ||
| Q3 25 | — | -9.9% | ||
| Q2 25 | — | -10.4% | ||
| Q1 25 | — | -11.4% | ||
| Q4 24 | — | -30.6% | ||
| Q3 24 | — | -2.6% | ||
| Q2 24 | — | -0.7% |
资本支出强度MATPLAY
| Q1 26 | 7.6% | — | ||
| Q4 25 | — | 17.5% | ||
| Q3 25 | — | 16.0% | ||
| Q2 25 | — | 27.2% | ||
| Q1 25 | — | 31.8% | ||
| Q4 24 | — | 29.0% | ||
| Q3 24 | — | 20.8% | ||
| Q2 24 | — | 19.2% |
现金转化率MATPLAY
| Q1 26 | — | — | ||
| Q4 25 | 7.50× | — | ||
| Q3 25 | 0.26× | 2.98× | ||
| Q2 25 | -5.62× | 4.41× | ||
| Q1 25 | — | 11.71× | ||
| Q4 24 | 6.12× | — | ||
| Q3 24 | 0.42× | 2.53× | ||
| Q2 24 | -4.45× | 2.63× |
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
MAT
暂无分部数据
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% |
