vs
Dave & Buster's Entertainment, Inc.（PLAY）与环球音乐集团（ULH）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.的季度营收约是环球音乐集团的1.2倍（$448.2M vs $385.4M），环球音乐集团净利率更高（1.0% vs -9.4%，领先10.4%），Dave & Buster's Entertainment, Inc.同比增速更快（-1.1% vs -17.1%），环球音乐集团自由现金流更多（$14.3M vs $-20.6M），过去两年环球音乐集团的营收复合增速更高（-11.5% 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。
环球音乐集团是依据荷兰法律成立的跨国音乐企业集团，企业总部设在荷兰希尔弗瑟姆，运营总部位于美国加利福尼亚州圣莫尼卡。作为全球规模最大的音乐公司，它与索尼音乐娱乐、华纳音乐集团并称为三大唱片巨头。2020年腾讯斥资30亿欧元收购了其百分之二十的股份。
PLAY vs ULH — 直观对比
营收规模更大
PLAY
是对方的1.2倍
$385.4M
营收增速更快
PLAY
高出16.1%
-17.1%
净利率更高
ULH
高出10.4%
-9.4%
自由现金流更多
ULH
多$34.9M
$-20.6M
两年增速更快
ULH
近两年复合增速
-13.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $448.2M | $385.4M |
| 净利润 | $-42.1M | $3.7M |
| 毛利率 | 85.8% | — |
| 营业利润率 | -3.6% | 4.5% |
| 净利率 | -9.4% | 1.0% |
| 营收同比 | -1.1% | -17.1% |
| 净利润同比 | -28.7% | -81.5% |
| 每股收益（稀释后） | $-1.22 | $0.14 |
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PLAYULH
| Q4 25 | $448.2M | $385.4M | ||
| Q3 25 | $557.4M | $396.8M | ||
| Q2 25 | $567.7M | $393.8M | ||
| Q1 25 | $534.5M | $382.4M | ||
| Q4 24 | $453.0M | $465.1M | ||
| Q3 24 | $557.1M | $426.8M | ||
| Q2 24 | $588.1M | $462.2M | ||
| Q1 24 | $599.0M | $491.9M |
净利润PLAYULH
| Q4 25 | $-42.1M | $3.7M | ||
| Q3 25 | $11.4M | $-117.9M | ||
| Q2 25 | $21.7M | $8.3M | ||
| Q1 25 | $9.3M | $6.0M | ||
| Q4 24 | $-32.7M | $20.2M | ||
| Q3 24 | $40.3M | $26.5M | ||
| Q2 24 | $41.4M | $30.7M | ||
| Q1 24 | $36.1M | $52.5M |
毛利率PLAYULH
| 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PLAYULH
| Q4 25 | -3.6% | 4.5% | ||
| Q3 25 | 9.5% | -29.6% | ||
| Q2 25 | 11.1% | 5.1% | ||
| Q1 25 | 8.3% | 4.1% | ||
| Q4 24 | 1.4% | 8.2% | ||
| Q3 24 | 15.2% | 10.0% | ||
| Q2 24 | 14.5% | 10.2% | ||
| Q1 24 | 14.9% | 15.3% |
净利率PLAYULH
| Q4 25 | -9.4% | 1.0% | ||
| Q3 25 | 2.0% | -29.7% | ||
| Q2 25 | 3.8% | 2.1% | ||
| Q1 25 | 1.7% | 1.6% | ||
| Q4 24 | -7.2% | 4.3% | ||
| Q3 24 | 7.2% | 6.2% | ||
| Q2 24 | 7.0% | 6.7% | ||
| Q1 24 | 6.0% | 10.7% |
每股收益（稀释后）PLAYULH
| Q4 25 | $-1.22 | $0.14 | ||
| Q3 25 | $0.32 | $-4.48 | ||
| Q2 25 | $0.62 | $0.32 | ||
| Q1 25 | $0.32 | $0.23 | ||
| Q4 24 | $-0.84 | $0.76 | ||
| Q3 24 | $0.99 | $1.01 | ||
| Q2 24 | $0.99 | $1.17 | ||
| Q1 24 | $0.95 | $1.99 |
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 | $13.6M | $26.8M |
| 总债务越低越好 | $1.6B | $797.6M |
| 股东权益账面价值 | $130.8M | $540.4M |
| 总资产 | $4.1B | $1.8B |
| 负债/权益比越低杠杆越低 | 12.17× | 1.48× |
8季度趋势，按日历期对齐
现金及短期投资PLAYULH
| Q4 25 | $13.6M | $26.8M | ||
| Q3 25 | $12.0M | $27.4M | ||
| Q2 25 | $11.9M | $24.3M | ||
| Q1 25 | $6.9M | $20.6M | ||
| Q4 24 | $8.6M | $19.4M | ||
| Q3 24 | $13.1M | $11.8M | ||
| Q2 24 | $32.1M | $7.5M | ||
| Q1 24 | $37.3M | $11.1M |
总债务PLAYULH
| Q4 25 | $1.6B | $797.6M | ||
| Q3 25 | $1.6B | $824.2M | ||
| Q2 25 | $1.6B | $795.5M | ||
| Q1 25 | $1.5B | $736.7M | ||
| Q4 24 | $1.5B | $759.1M | ||
| Q3 24 | $1.3B | $557.4M | ||
| Q2 24 | $1.3B | $483.8M | ||
| Q1 24 | $1.3B | $414.1M |
股东权益PLAYULH
| Q4 25 | $130.8M | $540.4M | ||
| Q3 25 | $166.2M | $534.9M | ||
| Q2 25 | $146.8M | $653.7M | ||
| Q1 25 | $145.8M | $646.4M | ||
| Q4 24 | $226.6M | $647.0M | ||
| Q3 24 | $284.4M | $631.0M | ||
| Q2 24 | $292.5M | $608.9M | ||
| Q1 24 | $251.2M | $583.9M |
总资产PLAYULH
| Q4 25 | $4.1B | $1.8B | ||
| Q3 25 | $4.1B | $1.8B | ||
| Q2 25 | $4.1B | $1.9B | ||
| Q1 25 | $4.0B | $1.8B | ||
| Q4 24 | $3.9B | $1.8B | ||
| Q3 24 | $3.8B | $1.6B | ||
| Q2 24 | $3.8B | $1.5B | ||
| Q1 24 | $3.8B | $1.4B |
负债/权益比PLAYULH
| Q4 25 | 12.17× | 1.48× | ||
| Q3 25 | 9.57× | 1.54× | ||
| Q2 25 | 10.98× | 1.22× | ||
| Q1 25 | 10.45× | 1.14× | ||
| Q4 24 | 6.58× | 1.17× | ||
| Q3 24 | 4.72× | 0.88× | ||
| Q2 24 | 4.58× | 0.79× | ||
| Q1 24 | 5.33× | 0.71× |
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 | $47.1M |
| 自由现金流经营现金流 - 资本支出 | $-20.6M | $14.3M |
| 自由现金流率自由现金流/营收 | -4.6% | 3.7% |
| 资本支出强度资本支出/营收 | 17.5% | 8.5% |
| 现金转化率经营现金流/净利润 | — | 12.62× |
| 过去12个月自由现金流最近4个季度 | $-195.6M | $-41.1M |
8季度趋势，按日历期对齐
经营现金流PLAYULH
| Q4 25 | $58.0M | $47.1M | ||
| Q3 25 | $34.0M | $25.9M | ||
| Q2 25 | $95.8M | $25.7M | ||
| Q1 25 | $108.9M | $84.3M | ||
| Q4 24 | $-7.2M | $59.7M | ||
| Q3 24 | $101.8M | $6.2M | ||
| Q2 24 | $108.8M | $9.6M | ||
| Q1 24 | $97.2M | $36.9M |
自由现金流PLAYULH
| Q4 25 | $-20.6M | $14.3M | ||
| Q3 25 | $-55.2M | $-28.6M | ||
| Q2 25 | $-58.8M | $-58.5M | ||
| Q1 25 | $-61.0M | $31.7M | ||
| Q4 24 | $-138.4M | $18.9M | ||
| Q3 24 | $-14.3M | $-58.9M | ||
| Q2 24 | $-4.2M | $-67.6M | ||
| Q1 24 | $-25.4M | $-31.7M |
自由现金流率PLAYULH
| Q4 25 | -4.6% | 3.7% | ||
| Q3 25 | -9.9% | -7.2% | ||
| Q2 25 | -10.4% | -14.9% | ||
| Q1 25 | -11.4% | 8.3% | ||
| Q4 24 | -30.6% | 4.1% | ||
| Q3 24 | -2.6% | -13.8% | ||
| Q2 24 | -0.7% | -14.6% | ||
| Q1 24 | -4.2% | -6.4% |
资本支出强度PLAYULH
| Q4 25 | 17.5% | 8.5% | ||
| Q3 25 | 16.0% | 13.7% | ||
| Q2 25 | 27.2% | 21.4% | ||
| Q1 25 | 31.8% | 13.7% | ||
| Q4 24 | 29.0% | 8.8% | ||
| Q3 24 | 20.8% | 15.3% | ||
| Q2 24 | 19.2% | 16.7% | ||
| Q1 24 | 20.5% | 13.9% |
现金转化率PLAYULH
| Q4 25 | — | 12.62× | ||
| Q3 25 | 2.98× | — | ||
| Q2 25 | 4.41× | 3.09× | ||
| Q1 25 | 11.71× | 14.02× | ||
| Q4 24 | — | 2.96× | ||
| Q3 24 | 2.53× | 0.23× | ||
| Q2 24 | 2.63× | 0.31× | ||
| Q1 24 | 2.69× | 0.70× |
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% |
ULH
| Value Added Services | $183.7M | 48% |
| Dedicated Services | $84.9M | 22% |
| Intermodal | $52.7M | 14% |
| Truckload Services | $48.8M | 13% |
| Brokerage Services | $16.1M | 4% |
