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花花公子（PLBY）与TELOS CORP（TLS）财务数据对比。点击上方公司名可切换其他公司
TELOS CORP的季度营收约是花花公子的1.3倍（$46.8M vs $34.9M），花花公子净利率更高（10.3% vs -34.9%，领先45.1%），TELOS CORP同比增速更快（77.4% vs 4.2%），TELOS CORP自由现金流更多（$8.0M vs $1.1M），过去两年TELOS CORP的营收复合增速更高（25.7% 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。
泰洛斯公司（Telos Corporation）是一家信息技术与网络安全企业，总部位于美国弗吉尼亚州阿什本。公司主要服务对象为政府与企业客户，业务合同大部分来自美国国防部，核心客户涵盖美国军方、情报机构、民政部门以及北约盟友机构。
PLBY vs TLS — 直观对比
营收规模更大
TLS
是对方的1.3倍
$34.9M
营收增速更快
TLS
高出73.1%
4.2%
净利率更高
PLBY
高出45.1%
-34.9%
自由现金流更多
TLS
多$6.8M
$1.1M
两年增速更快
TLS
近两年复合增速
11.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $34.9M | $46.8M |
| 净利润 | $3.6M | $-16.3M |
| 毛利率 | 73.3% | 35.0% |
| 营业利润率 | 7.9% | -39.6% |
| 净利率 | 10.3% | -34.9% |
| 营收同比 | 4.2% | 77.4% |
| 净利润同比 | 128.6% | -74.8% |
| 每股收益（稀释后） | $0.05 | $-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PLBYTLS
| Q4 25 | $34.9M | $46.8M | ||
| Q3 25 | $29.0M | $51.4M | ||
| Q2 25 | $28.1M | $36.0M | ||
| Q1 25 | $28.9M | $30.6M | ||
| Q4 24 | $33.5M | $26.4M | ||
| Q3 24 | $29.4M | $23.8M | ||
| Q2 24 | $24.9M | $28.5M | ||
| Q1 24 | $28.3M | $29.6M |
净利润PLBYTLS
| Q4 25 | $3.6M | $-16.3M | ||
| Q3 25 | $460.0K | $-2.1M | ||
| Q2 25 | $-7.7M | $-9.5M | ||
| Q1 25 | $-9.0M | $-8.6M | ||
| Q4 24 | $-12.5M | $-9.3M | ||
| Q3 24 | $-33.8M | $-28.1M | ||
| Q2 24 | $-16.7M | $-7.8M | ||
| Q1 24 | $-16.4M | $-7.4M |
毛利率PLBYTLS
| Q4 25 | 73.3% | 35.0% | ||
| Q3 25 | 76.0% | 39.9% | ||
| Q2 25 | 65.4% | 33.2% | ||
| Q1 25 | 68.6% | 39.8% | ||
| Q4 24 | 70.8% | 40.3% | ||
| Q3 24 | 61.0% | 13.2% | ||
| Q2 24 | 67.8% | 34.1% | ||
| Q1 24 | 55.8% | 37.0% |
营业利润率PLBYTLS
| Q4 25 | 7.9% | -39.6% | ||
| Q3 25 | 4.7% | -4.8% | ||
| Q2 25 | -20.9% | -27.5% | ||
| Q1 25 | -21.7% | -29.5% | ||
| Q4 24 | -13.3% | -37.6% | ||
| Q3 24 | -96.0% | -121.4% | ||
| Q2 24 | -37.0% | -30.3% | ||
| Q1 24 | -31.5% | -28.5% |
净利率PLBYTLS
| Q4 25 | 10.3% | -34.9% | ||
| Q3 25 | 1.6% | -4.1% | ||
| Q2 25 | -27.3% | -26.5% | ||
| Q1 25 | -31.3% | -28.1% | ||
| Q4 24 | -37.4% | -35.4% | ||
| Q3 24 | -114.7% | -118.0% | ||
| Q2 24 | -66.9% | -27.2% | ||
| Q1 24 | -58.1% | -24.9% |
每股收益（稀释后）PLBYTLS
| Q4 25 | $0.05 | $-0.22 | ||
| Q3 25 | $0.00 | $-0.03 | ||
| Q2 25 | $-0.08 | $-0.13 | ||
| Q1 25 | $-0.10 | $-0.12 | ||
| Q4 24 | $-0.13 | $-0.13 | ||
| Q3 24 | $-0.45 | $-0.39 | ||
| Q2 24 | $-0.23 | $-0.11 | ||
| Q1 24 | $-0.23 | $-0.10 |
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 | $53.2M |
| 总债务越低越好 | $174.2M | — |
| 股东权益账面价值 | $18.4M | $96.0M |
| 总资产 | $292.4M | $139.9M |
| 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PLBYTLS
| Q4 25 | $37.8M | $53.2M | ||
| Q3 25 | $27.5M | $59.0M | ||
| Q2 25 | $19.6M | $57.0M | ||
| Q1 25 | $23.7M | $57.8M | ||
| Q4 24 | $30.9M | $54.6M | ||
| Q3 24 | $9.5M | $69.8M | ||
| Q2 24 | $16.9M | $80.1M | ||
| Q1 24 | $19.0M | $93.9M |
总债务PLBYTLS
| 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PLBYTLS
| Q4 25 | $18.4M | $96.0M | ||
| Q3 25 | $3.8M | $119.7M | ||
| Q2 25 | $-17.5M | $118.4M | ||
| Q1 25 | $-11.4M | $126.1M | ||
| Q4 24 | $-7.7M | $127.1M | ||
| Q3 24 | $-15.7M | $129.5M | ||
| Q2 24 | $15.7M | $149.1M | ||
| Q1 24 | $29.5M | $154.4M |
总资产PLBYTLS
| Q4 25 | $292.4M | $139.9M | ||
| Q3 25 | $278.3M | $164.3M | ||
| Q2 25 | $264.1M | $165.0M | ||
| Q1 25 | $270.6M | $158.1M | ||
| Q4 24 | $284.7M | $158.2M | ||
| Q3 24 | $271.5M | $166.3M | ||
| Q2 24 | $301.8M | $182.4M | ||
| Q1 24 | $309.1M | $195.4M |
负债/权益比PLBYTLS
| 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 | $8.0M |
| 自由现金流经营现金流 - 资本支出 | $1.1M | $8.0M |
| 自由现金流率自由现金流/营收 | 3.2% | 17.0% |
| 资本支出强度资本支出/营收 | 0.8% | 0.1% |
| 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 | $29.4M |
8季度趋势，按日历期对齐
经营现金流PLBYTLS
| Q4 25 | $1.4M | $8.0M | ||
| Q3 25 | $10.1M | $9.1M | ||
| Q2 25 | $-3.9M | $7.0M | ||
| Q1 25 | $-7.6M | $6.1M | ||
| Q4 24 | $161.0K | $-10.5M | ||
| Q3 24 | $-6.5M | $-7.1M | ||
| Q2 24 | $-3.0M | $-8.0M | ||
| Q1 24 | $-9.8M | $-350.0K |
自由现金流PLBYTLS
| Q4 25 | $1.1M | $8.0M | ||
| Q3 25 | $9.8M | $8.7M | ||
| Q2 25 | $-4.3M | $6.8M | ||
| Q1 25 | $-7.7M | $6.0M | ||
| Q4 24 | $-401.0K | $-12.4M | ||
| Q3 24 | $-7.0M | $-7.1M | ||
| Q2 24 | $-3.7M | $-8.2M | ||
| Q1 24 | $-10.3M | $-447.0K |
自由现金流率PLBYTLS
| Q4 25 | 3.2% | 17.0% | ||
| Q3 25 | 33.8% | 16.9% | ||
| Q2 25 | -15.2% | 19.0% | ||
| Q1 25 | -26.5% | 19.5% | ||
| Q4 24 | -1.2% | -47.0% | ||
| Q3 24 | -23.7% | -30.0% | ||
| Q2 24 | -14.8% | -28.9% | ||
| Q1 24 | -36.5% | -1.5% |
资本支出强度PLBYTLS
| Q4 25 | 0.8% | 0.1% | ||
| Q3 25 | 1.1% | 0.9% | ||
| Q2 25 | 1.4% | 0.4% | ||
| Q1 25 | 0.1% | 0.4% | ||
| Q4 24 | 1.7% | 7.1% | ||
| Q3 24 | 1.5% | 0.2% | ||
| Q2 24 | 2.6% | 0.8% | ||
| Q1 24 | 2.1% | 0.3% |
现金转化率PLBYTLS
| 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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
