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Dave & Buster's Entertainment, Inc.（PLAY）与INNOVATE Corp.（VATE）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INNOVATE Corp.的1.2倍（$448.2M vs $382.7M），INNOVATE Corp.净利率更高（-1.9% vs -9.4%，领先7.5%），INNOVATE Corp.同比增速更快（61.7% vs -1.1%），过去两年INNOVATE Corp.的营收复合增速更高（10.2% 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。
创新公司（Innovate Corp.）是一家美国上市金融服务企业，创立于1994年，深耕金融服务领域，面向市场提供多元专业金融相关服务，是美国本土具备多年运营经验的公众金融服务机构。
PLAY vs VATE — 直观对比
营收规模更大
PLAY
是对方的1.2倍
$382.7M
营收增速更快
VATE
高出62.8%
-1.1%
净利率更高
VATE
高出7.5%
-9.4%
两年增速更快
VATE
近两年复合增速
-13.5%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $448.2M | $382.7M |
| 净利润 | $-42.1M | $-7.4M |
| 毛利率 | 85.8% | 15.4% |
| 营业利润率 | -3.6% | 3.7% |
| 净利率 | -9.4% | -1.9% |
| 营收同比 | -1.1% | 61.7% |
| 净利润同比 | -28.7% | 55.4% |
| 每股收益（稀释后） | $-1.22 | $-0.57 |
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PLAYVATE
| Q4 25 | $448.2M | $382.7M | ||
| Q3 25 | $557.4M | $347.1M | ||
| Q2 25 | $567.7M | $242.0M | ||
| Q1 25 | $534.5M | $274.2M | ||
| Q4 24 | $453.0M | $236.6M | ||
| Q3 24 | $557.1M | $242.2M | ||
| Q2 24 | $588.1M | $313.1M | ||
| Q1 24 | $599.0M | $315.2M |
净利润PLAYVATE
| Q4 25 | $-42.1M | $-7.4M | ||
| Q3 25 | $11.4M | $-8.9M | ||
| Q2 25 | $21.7M | $-19.8M | ||
| Q1 25 | $9.3M | $-24.5M | ||
| Q4 24 | $-32.7M | $-16.6M | ||
| Q3 24 | $40.3M | $-15.0M | ||
| Q2 24 | $41.4M | $14.4M | ||
| Q1 24 | $36.1M | $-17.4M |
毛利率PLAYVATE
| Q4 25 | 85.8% | 15.4% | ||
| Q3 25 | 86.3% | 14.3% | ||
| Q2 25 | 85.5% | 18.8% | ||
| Q1 25 | 85.5% | 16.6% | ||
| Q4 24 | 85.0% | 19.6% | ||
| Q3 24 | 85.3% | 19.9% | ||
| Q2 24 | 85.2% | 21.0% | ||
| Q1 24 | 84.1% | 15.4% |
营业利润率PLAYVATE
| Q4 25 | -3.6% | 3.7% | ||
| Q3 25 | 9.5% | 1.8% | ||
| Q2 25 | 11.1% | 2.0% | ||
| Q1 25 | 8.3% | 1.2% | ||
| Q4 24 | 1.4% | 1.1% | ||
| Q3 24 | 15.2% | 2.4% | ||
| Q2 24 | 14.5% | 9.2% | ||
| Q1 24 | 14.9% | 0.9% |
净利率PLAYVATE
| Q4 25 | -9.4% | -1.9% | ||
| Q3 25 | 2.0% | -2.6% | ||
| Q2 25 | 3.8% | -8.2% | ||
| Q1 25 | 1.7% | -8.9% | ||
| Q4 24 | -7.2% | -7.0% | ||
| Q3 24 | 7.2% | -6.2% | ||
| Q2 24 | 7.0% | 4.6% | ||
| Q1 24 | 6.0% | -5.5% |
每股收益（稀释后）PLAYVATE
| Q4 25 | $-1.22 | $-0.57 | ||
| Q3 25 | $0.32 | $-0.71 | ||
| Q2 25 | $0.62 | $-1.67 | ||
| Q1 25 | $0.32 | $-1.89 | ||
| Q4 24 | $-0.84 | $-0.72 | ||
| Q3 24 | $0.99 | $-1.18 | ||
| Q2 24 | $0.99 | $1.03 | ||
| Q1 24 | $0.95 | $-2.21 |
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 | $112.1M |
| 总债务越低越好 | $1.6B | $80.3M |
| 股东权益账面价值 | $130.8M | $-240.1M |
| 总资产 | $4.1B | $950.1M |
| 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PLAYVATE
| Q4 25 | $13.6M | $112.1M | ||
| Q3 25 | $12.0M | $35.5M | ||
| Q2 25 | $11.9M | $33.4M | ||
| Q1 25 | $6.9M | $33.3M | ||
| Q4 24 | $8.6M | $48.8M | ||
| Q3 24 | $13.1M | $51.0M | ||
| Q2 24 | $32.1M | $80.2M | ||
| Q1 24 | $37.3M | $38.4M |
总债务PLAYVATE
| Q4 25 | $1.6B | $80.3M | ||
| Q3 25 | $1.6B | $97.3M | ||
| Q2 25 | $1.6B | $160.1M | ||
| Q1 25 | $1.5B | $139.9M | ||
| Q4 24 | $1.5B | $500.6M | ||
| Q3 24 | $1.3B | $502.4M | ||
| Q2 24 | $1.3B | $638.3M | ||
| Q1 24 | $1.3B | $641.5M |
股东权益PLAYVATE
| Q4 25 | $130.8M | $-240.1M | ||
| Q3 25 | $166.2M | $-233.3M | ||
| Q2 25 | $146.8M | $-224.8M | ||
| Q1 25 | $145.8M | $-204.2M | ||
| Q4 24 | $226.6M | $-180.4M | ||
| Q3 24 | $284.4M | $-163.1M | ||
| Q2 24 | $292.5M | $-149.0M | ||
| Q1 24 | $251.2M | $-184.4M |
总资产PLAYVATE
| Q4 25 | $4.1B | $950.1M | ||
| Q3 25 | $4.1B | $913.2M | ||
| Q2 25 | $4.1B | $890.9M | ||
| Q1 25 | $4.0B | $868.0M | ||
| Q4 24 | $3.9B | $891.1M | ||
| Q3 24 | $3.8B | $897.2M | ||
| Q2 24 | $3.8B | $898.9M | ||
| Q1 24 | $3.8B | $943.5M |
负债/权益比PLAYVATE
| 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 | $101.1M |
| 自由现金流经营现金流 - 资本支出 | $-20.6M | — |
| 自由现金流率自由现金流/营收 | -4.6% | — |
| 资本支出强度资本支出/营收 | 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PLAYVATE
| Q4 25 | $58.0M | $101.1M | ||
| Q3 25 | $34.0M | $19.2M | ||
| Q2 25 | $95.8M | $40.4M | ||
| Q1 25 | $108.9M | $-14.1M | ||
| Q4 24 | $-7.2M | $41.4M | ||
| Q3 24 | $101.8M | $-28.4M | ||
| Q2 24 | $108.8M | $21.5M | ||
| Q1 24 | $97.2M | $-25.4M |
自由现金流PLAYVATE
| Q4 25 | $-20.6M | — | ||
| Q3 25 | $-55.2M | $19.0M | ||
| Q2 25 | $-58.8M | — | ||
| Q1 25 | $-61.0M | $-18.8M | ||
| Q4 24 | $-138.4M | $34.2M | ||
| Q3 24 | $-14.3M | $-31.5M | ||
| Q2 24 | $-4.2M | $18.4M | ||
| Q1 24 | $-25.4M | $-31.0M |
自由现金流率PLAYVATE
| Q4 25 | -4.6% | — | ||
| Q3 25 | -9.9% | 5.5% | ||
| Q2 25 | -10.4% | — | ||
| Q1 25 | -11.4% | -6.9% | ||
| Q4 24 | -30.6% | 14.5% | ||
| Q3 24 | -2.6% | -13.0% | ||
| Q2 24 | -0.7% | 5.9% | ||
| Q1 24 | -4.2% | -9.8% |
资本支出强度PLAYVATE
| Q4 25 | 17.5% | — | ||
| Q3 25 | 16.0% | 0.1% | ||
| Q2 25 | 27.2% | — | ||
| Q1 25 | 31.8% | 1.7% | ||
| Q4 24 | 29.0% | 3.0% | ||
| Q3 24 | 20.8% | 1.3% | ||
| Q2 24 | 19.2% | 1.0% | ||
| Q1 24 | 20.5% | 1.8% |
现金转化率PLAYVATE
| Q4 25 | — | — | ||
| Q3 25 | 2.98× | — | ||
| Q2 25 | 4.41× | — | ||
| Q1 25 | 11.71× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.53× | — | ||
| Q2 24 | 2.63× | 1.49× | ||
| Q1 24 | 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
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% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
