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花花公子（PLBY）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
STEM, INC.的季度营收约是花花公子的1.4倍（$47.1M vs $34.9M），花花公子净利率更高（10.3% vs -33.9%，领先44.2%），花花公子同比增速更快（4.2% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% 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。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
PLBY vs STEM — 直观对比
营收规模更大
STEM
是对方的1.4倍
$34.9M
营收增速更快
PLBY
高出19.8%
-15.6%
净利率更高
PLBY
高出44.2%
-33.9%
两年增速更快
STEM
近两年复合增速
11.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $34.9M | $47.1M |
| 净利润 | $3.6M | $-16.0M |
| 毛利率 | 73.3% | 48.9% |
| 营业利润率 | 7.9% | -17.7% |
| 净利率 | 10.3% | -33.9% |
| 营收同比 | 4.2% | -15.6% |
| 净利润同比 | 128.6% | 68.8% |
| 每股收益（稀释后） | $0.05 | $-4.40 |
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PLBYSTEM
| Q4 25 | $34.9M | $47.1M | ||
| Q3 25 | $29.0M | $38.2M | ||
| Q2 25 | $28.1M | $38.4M | ||
| Q1 25 | $28.9M | $32.5M | ||
| Q4 24 | $33.5M | $55.8M | ||
| Q3 24 | $29.4M | $29.3M | ||
| Q2 24 | $24.9M | $34.0M | ||
| Q1 24 | $28.3M | $25.5M |
净利润PLBYSTEM
| Q4 25 | $3.6M | $-16.0M | ||
| Q3 25 | $460.0K | $-23.8M | ||
| Q2 25 | $-7.7M | $202.5M | ||
| Q1 25 | $-9.0M | $-25.0M | ||
| Q4 24 | $-12.5M | $-51.1M | ||
| Q3 24 | $-33.8M | $-148.3M | ||
| Q2 24 | $-16.7M | $-582.3M | ||
| Q1 24 | $-16.4M | $-72.3M |
毛利率PLBYSTEM
| Q4 25 | 73.3% | 48.9% | ||
| Q3 25 | 76.0% | 35.5% | ||
| Q2 25 | 65.4% | 33.4% | ||
| Q1 25 | 68.6% | 32.4% | ||
| Q4 24 | 70.8% | -4.4% | ||
| Q3 24 | 61.0% | 21.2% | ||
| Q2 24 | 67.8% | 27.6% | ||
| Q1 24 | 55.8% | -95.0% |
营业利润率PLBYSTEM
| Q4 25 | 7.9% | -17.7% | ||
| Q3 25 | 4.7% | -33.6% | ||
| Q2 25 | -20.9% | -34.8% | ||
| Q1 25 | -21.7% | -65.0% | ||
| Q4 24 | -13.3% | -84.4% | ||
| Q3 24 | -96.0% | -493.2% | ||
| Q2 24 | -37.0% | -1705.5% | ||
| Q1 24 | -31.5% | -267.0% |
净利率PLBYSTEM
| Q4 25 | 10.3% | -33.9% | ||
| Q3 25 | 1.6% | -62.2% | ||
| Q2 25 | -27.3% | 527.8% | ||
| Q1 25 | -31.3% | -76.9% | ||
| Q4 24 | -37.4% | -91.6% | ||
| Q3 24 | -114.7% | -506.3% | ||
| Q2 24 | -66.9% | -1712.6% | ||
| Q1 24 | -58.1% | -283.9% |
每股收益（稀释后）PLBYSTEM
| Q4 25 | $0.05 | $-4.40 | ||
| Q3 25 | $0.00 | $-2.84 | ||
| Q2 25 | $-0.08 | $-1.79 | ||
| Q1 25 | $-0.10 | $-0.15 | ||
| Q4 24 | $-0.13 | $-15.29 | ||
| Q3 24 | $-0.45 | $-18.24 | ||
| Q2 24 | $-0.23 | $-71.81 | ||
| Q1 24 | $-0.23 | $-0.46 |
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 | $48.9M |
| 总债务越低越好 | $174.2M | — |
| 股东权益账面价值 | $18.4M | $-249.4M |
| 总资产 | $292.4M | $308.9M |
| 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PLBYSTEM
| Q4 25 | $37.8M | $48.9M | ||
| Q3 25 | $27.5M | $43.1M | ||
| Q2 25 | $19.6M | $40.8M | ||
| Q1 25 | $23.7M | $58.6M | ||
| Q4 24 | $30.9M | $56.3M | ||
| Q3 24 | $9.5M | $75.4M | ||
| Q2 24 | $16.9M | $89.6M | ||
| Q1 24 | $19.0M | $112.8M |
总债务PLBYSTEM
| 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PLBYSTEM
| Q4 25 | $18.4M | $-249.4M | ||
| Q3 25 | $3.8M | $-235.7M | ||
| Q2 25 | $-17.5M | $-214.1M | ||
| Q1 25 | $-11.4M | $-417.5M | ||
| Q4 24 | $-7.7M | $-398.4M | ||
| Q3 24 | $-15.7M | $-344.1M | ||
| Q2 24 | $15.7M | $-203.2M | ||
| Q1 24 | $29.5M | $371.6M |
总资产PLBYSTEM
| Q4 25 | $292.4M | $308.9M | ||
| Q3 25 | $278.3M | $362.6M | ||
| Q2 25 | $264.1M | $379.2M | ||
| Q1 25 | $270.6M | $405.1M | ||
| Q4 24 | $284.7M | $437.4M | ||
| Q3 24 | $271.5M | $537.8M | ||
| Q2 24 | $301.8M | $691.5M | ||
| Q1 24 | $309.1M | $1.3B |
负债/权益比PLBYSTEM
| 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 | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $1.1M | — |
| 自由现金流率自由现金流/营收 | 3.2% | — |
| 资本支出强度资本支出/营收 | 0.8% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流PLBYSTEM
| Q4 25 | $1.4M | $8.2M | ||
| Q3 25 | $10.1M | $11.4M | ||
| Q2 25 | $-3.9M | $-21.3M | ||
| Q1 25 | $-7.6M | $8.5M | ||
| Q4 24 | $161.0K | $-14.7M | ||
| Q3 24 | $-6.5M | $-9.4M | ||
| Q2 24 | $-3.0M | $-11.9M | ||
| Q1 24 | $-9.8M | $-621.0K |
自由现金流PLBYSTEM
| Q4 25 | $1.1M | — | ||
| Q3 25 | $9.8M | — | ||
| Q2 25 | $-4.3M | — | ||
| Q1 25 | $-7.7M | — | ||
| Q4 24 | $-401.0K | — | ||
| Q3 24 | $-7.0M | — | ||
| Q2 24 | $-3.7M | — | ||
| Q1 24 | $-10.3M | — |
自由现金流率PLBYSTEM
| Q4 25 | 3.2% | — | ||
| Q3 25 | 33.8% | — | ||
| Q2 25 | -15.2% | — | ||
| Q1 25 | -26.5% | — | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | -23.7% | — | ||
| Q2 24 | -14.8% | — | ||
| Q1 24 | -36.5% | — |
资本支出强度PLBYSTEM
| Q4 25 | 0.8% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 1.4% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 1.7% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 2.6% | — | ||
| Q1 24 | 2.1% | — |
现金转化率PLBYSTEM
| Q4 25 | 0.39× | — | ||
| Q3 25 | 22.02× | — | ||
| Q2 25 | — | -0.11× | ||
| 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% |
STEM
暂无分部数据
