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花花公子（PLBY）与Rumble Inc.（RUM）财务数据对比。点击上方公司名可切换其他公司
花花公子的季度营收约是Rumble Inc.的1.3倍（$34.9M vs $27.1M），花花公子净利率更高（10.3% vs -120.8%，领先131.1%），花花公子同比增速更快（4.2% vs -10.5%），花花公子自由现金流更多（$1.1M vs $-31.7M），过去两年Rumble Inc.的营收复合增速更高（15.2% vs 11.0%）
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。
Rumble Inc.是一家加美跨国企业，主营在线视频平台、网络托管及云服务，总部位于加拿大多伦多，美国总部设在佛罗里达州朗博特基。公司由加拿大科技创业者克里斯·帕夫洛夫斯基于2013年创立，云服务板块为Truth Social提供托管支持，其视频平台在美国保守派及极右翼用户群体中广受欢迎，属于“另类科技”阵营。
PLBY vs RUM — 直观对比
营收规模更大
PLBY
是对方的1.3倍
$27.1M
营收增速更快
PLBY
高出14.7%
-10.5%
净利率更高
PLBY
高出131.1%
-120.8%
自由现金流更多
PLBY
多$32.8M
$-31.7M
两年增速更快
RUM
近两年复合增速
11.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $34.9M | $27.1M |
| 净利润 | $3.6M | $-32.7M |
| 毛利率 | 73.3% | 5.5% |
| 营业利润率 | 7.9% | -131.1% |
| 净利率 | 10.3% | -120.8% |
| 营收同比 | 4.2% | -10.5% |
| 净利润同比 | 128.6% | 86.2% |
| 每股收益（稀释后） | $0.05 | $-0.13 |
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PLBYRUM
| Q4 25 | $34.9M | $27.1M | ||
| Q3 25 | $29.0M | $24.8M | ||
| Q2 25 | $28.1M | — | ||
| Q1 25 | $28.9M | $23.7M | ||
| Q4 24 | $33.5M | $30.2M | ||
| Q3 24 | $29.4M | $25.1M | ||
| Q2 24 | $24.9M | $22.5M | ||
| Q1 24 | $28.3M | $17.7M |
净利润PLBYRUM
| Q4 25 | $3.6M | $-32.7M | ||
| Q3 25 | $460.0K | $-16.3M | ||
| Q2 25 | $-7.7M | — | ||
| Q1 25 | $-9.0M | $-2.7M | ||
| Q4 24 | $-12.5M | $-236.8M | ||
| Q3 24 | $-33.8M | $-31.5M | ||
| Q2 24 | $-16.7M | $-26.8M | ||
| Q1 24 | $-16.4M | $-43.3M |
毛利率PLBYRUM
| Q4 25 | 73.3% | 5.5% | ||
| Q3 25 | 76.0% | -1.8% | ||
| Q2 25 | 65.4% | — | ||
| Q1 25 | 68.6% | -26.7% | ||
| Q4 24 | 70.8% | -14.2% | ||
| Q3 24 | 61.0% | -45.4% | ||
| Q2 24 | 67.8% | -58.8% | ||
| Q1 24 | 55.8% | -79.5% |
营业利润率PLBYRUM
| Q4 25 | 7.9% | -131.1% | ||
| Q3 25 | 4.7% | -113.6% | ||
| Q2 25 | -20.9% | — | ||
| Q1 25 | -21.7% | -153.5% | ||
| Q4 24 | -13.3% | -80.1% | ||
| Q3 24 | -96.0% | -131.0% | ||
| Q2 24 | -37.0% | -172.7% | ||
| Q1 24 | -31.5% | -197.4% |
净利率PLBYRUM
| Q4 25 | 10.3% | -120.8% | ||
| Q3 25 | 1.6% | -65.7% | ||
| Q2 25 | -27.3% | — | ||
| Q1 25 | -31.3% | -11.2% | ||
| Q4 24 | -37.4% | -783.2% | ||
| Q3 24 | -114.7% | -125.9% | ||
| Q2 24 | -66.9% | -119.2% | ||
| Q1 24 | -58.1% | -244.1% |
每股收益（稀释后）PLBYRUM
| Q4 25 | $0.05 | $-0.13 | ||
| Q3 25 | $0.00 | $-0.06 | ||
| Q2 25 | $-0.08 | — | ||
| Q1 25 | $-0.10 | $-0.01 | ||
| Q4 24 | $-0.13 | $-1.17 | ||
| Q3 24 | $-0.45 | $-0.15 | ||
| Q2 24 | $-0.23 | $-0.13 | ||
| Q1 24 | $-0.23 | $-0.21 |
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 | $37.8M | $237.9M |
| 总债务越低越好 | $174.2M | — |
| 股东权益账面价值 | $18.4M | $274.8M |
| 总资产 | $292.4M | $336.8M |
| 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PLBYRUM
| Q4 25 | $37.8M | $237.9M | ||
| Q3 25 | $27.5M | $269.8M | ||
| Q2 25 | $19.6M | — | ||
| Q1 25 | $23.7M | $301.3M | ||
| Q4 24 | $30.9M | $114.0M | ||
| Q3 24 | $9.5M | $132.0M | ||
| Q2 24 | $16.9M | $154.2M | ||
| Q1 24 | $19.0M | $183.8M |
总债务PLBYRUM
| 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PLBYRUM
| Q4 25 | $18.4M | $274.8M | ||
| Q3 25 | $3.8M | $302.2M | ||
| Q2 25 | $-17.5M | — | ||
| Q1 25 | $-11.4M | $339.6M | ||
| Q4 24 | $-7.7M | $-63.1M | ||
| Q3 24 | $-15.7M | $166.1M | ||
| Q2 24 | $15.7M | $192.7M | ||
| Q1 24 | $29.5M | $210.7M |
总资产PLBYRUM
| Q4 25 | $292.4M | $336.8M | ||
| Q3 25 | $278.3M | $367.2M | ||
| Q2 25 | $264.1M | — | ||
| Q1 25 | $270.6M | $391.1M | ||
| Q4 24 | $284.7M | $195.3M | ||
| Q3 24 | $271.5M | $217.2M | ||
| Q2 24 | $301.8M | $243.2M | ||
| Q1 24 | $309.1M | $263.0M |
负债/权益比PLBYRUM
| 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 | $1.4M | $-29.4M |
| 自由现金流经营现金流 - 资本支出 | $1.1M | $-31.7M |
| 自由现金流率自由现金流/营收 | 3.2% | -117.2% |
| 资本支出强度资本支出/营收 | 0.8% | 8.5% |
| 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 | $-1.0M | $-70.8M |
8季度趋势，按日历期对齐
经营现金流PLBYRUM
| Q4 25 | $1.4M | $-29.4M | ||
| Q3 25 | $10.1M | $-10.6M | ||
| Q2 25 | $-3.9M | — | ||
| Q1 25 | $-7.6M | $-14.5M | ||
| Q4 24 | $161.0K | $-12.4M | ||
| Q3 24 | $-6.5M | $-19.1M | ||
| Q2 24 | $-3.0M | $-21.7M | ||
| Q1 24 | $-9.8M | $-33.9M |
自由现金流PLBYRUM
| Q4 25 | $1.1M | $-31.7M | ||
| Q3 25 | $9.8M | $-12.0M | ||
| Q2 25 | $-4.3M | — | ||
| Q1 25 | $-7.7M | $-14.6M | ||
| Q4 24 | $-401.0K | $-12.4M | ||
| Q3 24 | $-7.0M | $-19.9M | ||
| Q2 24 | $-3.7M | $-23.1M | ||
| Q1 24 | $-10.3M | $-34.3M |
自由现金流率PLBYRUM
| Q4 25 | 3.2% | -117.2% | ||
| Q3 25 | 33.8% | -48.6% | ||
| Q2 25 | -15.2% | — | ||
| Q1 25 | -26.5% | -61.7% | ||
| Q4 24 | -1.2% | -40.9% | ||
| Q3 24 | -23.7% | -79.5% | ||
| Q2 24 | -14.8% | -102.8% | ||
| Q1 24 | -36.5% | -193.3% |
资本支出强度PLBYRUM
| Q4 25 | 0.8% | 8.5% | ||
| Q3 25 | 1.1% | 5.7% | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 0.1% | 0.6% | ||
| Q4 24 | 1.7% | 0.1% | ||
| Q3 24 | 1.5% | 3.4% | ||
| Q2 24 | 2.6% | 6.1% | ||
| Q1 24 | 2.1% | 2.4% |
现金转化率PLBYRUM
| Q4 25 | 0.39× | — | ||
| Q3 25 | 22.02× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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
PLBY
| Transferred At Point In Time | $22.2M | 64% |
| Trademark Licensing | $6.5M | 19% |
| Related Party | $5.0M | 14% |
| Other | $1.1M | 3% |
RUM
| Audience Monetization | $23.8M | 88% |
| Other Initiatives | $3.3M | 12% |
