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Dave & Buster's Entertainment, Inc.（PLAY）与棒约翰（PZZA）财务数据对比。点击上方公司名可切换其他公司
棒约翰的季度营收约是Dave & Buster's Entertainment, Inc.的1.1倍（$498.2M vs $448.2M），棒约翰净利率更高（1.4% vs -9.4%，领先10.8%），Dave & Buster's Entertainment, Inc.同比增速更快（-1.1% vs -6.1%），棒约翰自由现金流更多（$2.1M vs $-20.6M），过去两年棒约翰的营收复合增速更高（-1.5% vs -13.5%）
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。
棒约翰国际是源自美国的知名披萨餐饮连锁品牌，截至2023年，它是美国市场规模第四大披萨外送连锁餐饮集团，总部设于肯塔基州路易斯维尔与佐治亚州亚特兰大的都会区，在全球多地开设门店，主打披萨外卖业务。
PLAY vs PZZA — 直观对比
营收规模更大
PZZA
是对方的1.1倍
$448.2M
营收增速更快
PLAY
高出5.1%
-6.1%
净利率更高
PZZA
高出10.8%
-9.4%
自由现金流更多
PZZA
多$22.7M
$-20.6M
两年增速更快
PZZA
近两年复合增速
-13.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $448.2M | $498.2M |
| 净利润 | $-42.1M | $7.1M |
| 毛利率 | 85.8% | — |
| 营业利润率 | -3.6% | 4.9% |
| 净利率 | -9.4% | 1.4% |
| 营收同比 | -1.1% | -6.1% |
| 净利润同比 | -28.7% | -52.2% |
| 每股收益（稀释后） | $-1.22 | $0.22 |
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PLAYPZZA
| Q4 25 | $448.2M | $498.2M | ||
| Q3 25 | $557.4M | $508.2M | ||
| Q2 25 | $567.7M | $529.2M | ||
| Q1 25 | $534.5M | $518.3M | ||
| Q4 24 | $453.0M | $530.8M | ||
| Q3 24 | $557.1M | $506.8M | ||
| Q2 24 | $588.1M | $507.9M | ||
| Q1 24 | $599.0M | $513.9M |
净利润PLAYPZZA
| Q4 25 | $-42.1M | $7.1M | ||
| Q3 25 | $11.4M | $4.7M | ||
| Q2 25 | $21.7M | $9.5M | ||
| Q1 25 | $9.3M | $9.2M | ||
| Q4 24 | $-32.7M | $14.8M | ||
| Q3 24 | $40.3M | $41.8M | ||
| Q2 24 | $41.4M | $12.2M | ||
| Q1 24 | $36.1M | $14.6M |
毛利率PLAYPZZA
| Q4 25 | 85.8% | — | ||
| Q3 25 | 86.3% | — | ||
| Q2 25 | 85.5% | — | ||
| Q1 25 | 85.5% | — | ||
| Q4 24 | 85.0% | — | ||
| Q3 24 | 85.3% | — | ||
| Q2 24 | 85.2% | — | ||
| Q1 24 | 84.1% | — |
营业利润率PLAYPZZA
| Q4 25 | -3.6% | 4.9% | ||
| Q3 25 | 9.5% | 3.2% | ||
| Q2 25 | 11.1% | 4.6% | ||
| Q1 25 | 8.3% | 4.6% | ||
| Q4 24 | 1.4% | 5.6% | ||
| Q3 24 | 15.2% | 12.9% | ||
| Q2 24 | 14.5% | 5.6% | ||
| Q1 24 | 14.9% | 6.6% |
净利率PLAYPZZA
| Q4 25 | -9.4% | 1.4% | ||
| Q3 25 | 2.0% | 0.9% | ||
| Q2 25 | 3.8% | 1.8% | ||
| Q1 25 | 1.7% | 1.8% | ||
| Q4 24 | -7.2% | 2.8% | ||
| Q3 24 | 7.2% | 8.2% | ||
| Q2 24 | 7.0% | 2.4% | ||
| Q1 24 | 6.0% | 2.8% |
每股收益（稀释后）PLAYPZZA
| Q4 25 | $-1.22 | $0.22 | ||
| Q3 25 | $0.32 | $0.13 | ||
| Q2 25 | $0.62 | $0.28 | ||
| Q1 25 | $0.32 | $0.27 | ||
| Q4 24 | $-0.84 | $0.46 | ||
| Q3 24 | $0.99 | $1.27 | ||
| Q2 24 | $0.99 | $0.37 | ||
| Q1 24 | $0.95 | $0.44 |
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 | $13.6M | $34.6M |
| 总债务越低越好 | $1.6B | $722.3M |
| 股东权益账面价值 | $130.8M | $-444.8M |
| 总资产 | $4.1B | $837.5M |
| 负债/权益比越低杠杆越低 | 12.17× | — |
8季度趋势，按日历期对齐
现金及短期投资PLAYPZZA
| Q4 25 | $13.6M | $34.6M | ||
| Q3 25 | $12.0M | $39.0M | ||
| Q2 25 | $11.9M | $33.3M | ||
| Q1 25 | $6.9M | $44.0M | ||
| Q4 24 | $8.6M | $38.0M | ||
| Q3 24 | $13.1M | $17.6M | ||
| Q2 24 | $32.1M | $24.3M | ||
| Q1 24 | $37.3M | $27.8M |
总债务PLAYPZZA
| Q4 25 | $1.6B | $722.3M | ||
| Q3 25 | $1.6B | — | ||
| Q2 25 | $1.6B | — | ||
| Q1 25 | $1.5B | — | ||
| Q4 24 | $1.5B | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $1.3B | — | ||
| Q1 24 | $1.3B | — |
股东权益PLAYPZZA
| Q4 25 | $130.8M | $-444.8M | ||
| Q3 25 | $166.2M | $-439.3M | ||
| Q2 25 | $146.8M | $-432.0M | ||
| Q1 25 | $145.8M | $-431.9M | ||
| Q4 24 | $226.6M | $-429.5M | ||
| Q3 24 | $284.4M | $-430.9M | ||
| Q2 24 | $292.5M | $-461.7M | ||
| Q1 24 | $251.2M | $-461.9M |
总资产PLAYPZZA
| Q4 25 | $4.1B | $837.5M | ||
| Q3 25 | $4.1B | $884.1M | ||
| Q2 25 | $4.1B | $890.4M | ||
| Q1 25 | $4.0B | $898.1M | ||
| Q4 24 | $3.9B | $889.0M | ||
| Q3 24 | $3.8B | $860.9M | ||
| Q2 24 | $3.8B | $838.4M | ||
| Q1 24 | $3.8B | $847.2M |
负债/权益比PLAYPZZA
| Q4 25 | 12.17× | — | ||
| Q3 25 | 9.57× | — | ||
| Q2 25 | 10.98× | — | ||
| Q1 25 | 10.45× | — | ||
| Q4 24 | 6.58× | — | ||
| Q3 24 | 4.72× | — | ||
| Q2 24 | 4.58× | — | ||
| Q1 24 | 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 | $58.0M | $19.8M |
| 自由现金流经营现金流 - 资本支出 | $-20.6M | $2.1M |
| 自由现金流率自由现金流/营收 | -4.6% | 0.4% |
| 资本支出强度资本支出/营收 | 17.5% | 3.6% |
| 现金转化率经营现金流/净利润 | — | 2.80× |
| 过去12个月自由现金流最近4个季度 | $-195.6M | $61.3M |
8季度趋势，按日历期对齐
经营现金流PLAYPZZA
| Q4 25 | $58.0M | $19.8M | ||
| Q3 25 | $34.0M | $39.3M | ||
| Q2 25 | $95.8M | $35.5M | ||
| Q1 25 | $108.9M | $31.3M | ||
| Q4 24 | $-7.2M | $50.7M | ||
| Q3 24 | $101.8M | $13.9M | ||
| Q2 24 | $108.8M | $30.0M | ||
| Q1 24 | $97.2M | $12.0M |
自由现金流PLAYPZZA
| Q4 25 | $-20.6M | $2.1M | ||
| Q3 25 | $-55.2M | $22.7M | ||
| Q2 25 | $-58.8M | $17.4M | ||
| Q1 25 | $-61.0M | $19.1M | ||
| Q4 24 | $-138.4M | $25.2M | ||
| Q3 24 | $-14.3M | $-3.8M | ||
| Q2 24 | $-4.2M | $13.9M | ||
| Q1 24 | $-25.4M | $-1.1M |
自由现金流率PLAYPZZA
| Q4 25 | -4.6% | 0.4% | ||
| Q3 25 | -9.9% | 4.5% | ||
| Q2 25 | -10.4% | 3.3% | ||
| Q1 25 | -11.4% | 3.7% | ||
| Q4 24 | -30.6% | 4.7% | ||
| Q3 24 | -2.6% | -0.8% | ||
| Q2 24 | -0.7% | 2.7% | ||
| Q1 24 | -4.2% | -0.2% |
资本支出强度PLAYPZZA
| Q4 25 | 17.5% | 3.6% | ||
| Q3 25 | 16.0% | 3.3% | ||
| Q2 25 | 27.2% | 3.4% | ||
| Q1 25 | 31.8% | 2.4% | ||
| Q4 24 | 29.0% | 4.8% | ||
| Q3 24 | 20.8% | 3.5% | ||
| Q2 24 | 19.2% | 3.2% | ||
| Q1 24 | 20.5% | 2.5% |
现金转化率PLAYPZZA
| Q4 25 | — | 2.80× | ||
| Q3 25 | 2.98× | 8.36× | ||
| Q2 25 | 4.41× | 3.73× | ||
| Q1 25 | 11.71× | 3.40× | ||
| Q4 24 | — | 3.43× | ||
| Q3 24 | 2.53× | 0.33× | ||
| Q2 24 | 2.63× | 2.45× | ||
| Q1 24 | 2.69× | 0.82× |
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
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% |
PZZA
| Commissary | $236.8M | 48% |
| Company Owned Restaurant Sales | $154.4M | 31% |
| Franchisor | $47.5M | 10% |
| Advertising | $37.2M | 7% |
| Other | $22.2M | 4% |
