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Playboy
(NASDAQ:PLBY)
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Rating:48Neutral
Price Target:
$1.00
▼(-18.70% Downside)
Action:Reiterated
Date:10/29/26
The score is held down primarily by weak balance-sheet quality and an expensive valuation (very high P/E with no dividend support). Offsetting these are improving fundamentals and earnings-call momentum, including positive operating profitability/cash flow, strong Honey Birdette performance, and a credible deleveraging plan. Technicals are mildly supportive in the short term but remain mixed due to a weaker longer-term trend.
Positive Factors
Honey Birdette growth
Honey Birdette’s repeated double-digit comparable growth across stores and online channels indicates sustained brand demand rather than a single promotional spike. Continued full-price selling and higher average selling prices can support revenue quality and margin resilience while the broader portfolio develops.
Negative Factors
High leverage
Leverage near four times trailing earnings constrains financial flexibility and leaves less room to absorb operating setbacks or fund growth initiatives. The planned reduction is constructive, but the balance sheet remains dependent on future debt paydown and proceeds arriving as expected.
Read all positive and negative factors
Positive Factors
Negative Factors
Honey Birdette growth
Honey Birdette’s repeated double-digit comparable growth across stores and online channels indicates sustained brand demand rather than a single promotional spike. Continued full-price selling and higher average selling prices can support revenue quality and margin resilience while the broader portfolio develops.
Read all positive factors
Playboy (PLBY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$136.58M
Dividend YieldN/A
Average Volume (3M)577.11K
Price to Earnings (P/E)135.7
Beta (1Y)1.13
Revenue Growth-18.17%
EPS GrowthN/A
CountryUS
Employees588
SectorConsumer Cyclical
Sector Strength84
IndustrySpecialty Retail
Share Statistics
EPS (TTM)<0.01
Shares Outstanding119,807,686
10 Day Avg. Volume600,880
30 Day Avg. Volume577,109
Financial Highlights & Ratios
PEG Ratio0.17
Price to Book (P/B)10.26
Price to Sales (P/S)1.56
P/FCF Ratio-187.37
Enterprise Value/Market Cap2.09
Enterprise Value/Revenue2.28
Enterprise Value/Gross Profit3.14
Enterprise Value/Ebitda17.31
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.01
Revenue Forecast (FY)$128.91M
Playboy Business Overview & Revenue Model
Company Description
Playboy, Inc. operates as a leading media and lifestyle enterprise. It engages consumers globally, providing an array of products, services, and experiences aimed at enhancing their appearance, fostering well-being, and promoting enjoyment. The fi...
Playboy Earnings Call Summary
Earnings Call Date:Aug 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 05, 2026
Earnings Call Sentiment Positive
The call presents a predominantly positive picture: revenue and adjusted EBITDA grew meaningfully, the company returned to operating profitability and positive operating cash flow, Honey Birdette continued strong comp growth, licensing shows durable contracted revenue, audience engagement and early subscription metrics are encouraging, and management is actively reducing gross debt and executing a strategic share repurchase. Key risks include remaining leverage, litigation costs, a modest near‑term licensing headwind in China due to a JV transition, and careful capital allocation choices (repurchase vs. debt reduction vs. retail expansion). Overall the positives — growth, profitability, cash flow, and strategic momentum — outweigh the contained lowlights.Positive Updates
Revenue Growth
Consolidated revenue rose to $31.2 million, up approximately 10.9% year‑over‑year (≈$3.1M increase vs Q2 2025).
Negative Updates
Ongoing Debt Load and Leverage
Gross debt remains meaningful at $144.9M quarter end (down from $159.9M at year end 2025 but well above pro forma targets). Current leverage is near 4x on a trailing basis (management expects to fall below 3x only after receiving remaining UTG proceeds).
Read all updates
Q2-2026 Updates
Positive
Negative
Revenue Growth
Consolidated revenue rose to $31.2 million, up approximately 10.9% year‑over‑year (≈$3.1M increase vs Q2 2025).
Read all positive updates
Company Guidance
Management's guidance focused on continued deleveraging and disciplined growth: they expect to apply the remaining $36.7M of UTG proceeds to reduce gross debt from Q2's ~$144.9M (down from a $218M peak) toward ~$108M by January 2028, which together with trailing 12‑month adjusted EBITDA of $23.2M (≈$28M excluding >$700K of litigation) should lower leverage from just under ~4x to under 3x; they finished Q2 with ~$37.1M cash (incl. restricted) and positive operating cash flow of ~$2M, are executing a $17M share buyback for ~16.6M shares at $1.05 (15% of shares, $2M paid, $3M due by Aug 31), and expect incremental revenue from sponsorships and paid voting (contest entries ~17K then ~50K, the latter ≈2.5x the first) plus subscription monetization (site ~2M uniques in Q2; July best month) to begin contributing in Q3 as they selectively invest behind proven digital and media initiatives.Playboy Financial Statement Overview
Summary
Income Statement
48
Neutral
Balance Sheet
35
Negative
Cash Flow
43
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 125.36M | 120.93M | 116.14M | 142.95M | 185.54M | 246.59M |
| Gross Profit | 91.13M | 85.85M | 74.36M | 88.17M | 102.59M | 137.92M |
| EBITDA | 16.52M | 2.68M | -38.52M | -164.08M | -29.30M | -34.49M |
| Net Income | 283.00K | -12.67M | -79.40M | -180.42M | -277.70M | -77.68M |
Balance Sheet | ||||||
| Total Assets | 288.85M | 292.37M | 284.70M | 334.25M | 587.66M | 935.41M |
| Cash, Cash Equivalents and Short-Term Investments | 31.85M | 37.80M | 30.90M | 28.12M | 31.82M | 69.25M |
| Total Debt | 177.44M | 196.34M | 202.04M | 222.00M | 265.25M | 274.08M |
| Total Liabilities | 266.20M | 274.20M | 292.64M | 288.57M | 432.62M | 513.12M |
| Stockholders Equity | 22.05M | 18.38M | -7.73M | 45.89M | 155.25M | 422.49M |
Cash Flow | ||||||
| Free Cash Flow | 1.46M | -1.01M | -21.40M | -46.84M | -66.86M | -54.25M |
| Operating Cash Flow | 2.85M | 18.00K | -19.14M | -43.29M | -59.43M | -36.74M |
| Investing Cash Flow | 14.94M | 550.00K | -318.00K | 12.95M | 8.75M | -273.18M |
| Financing Cash Flow | -2.53M | 8.59M | 21.59M | 26.18M | 11.56M | 370.47M |
Playboy Technical Analysis
Positive
1.23
Price Trends
1.11
Positive
1.19
Negative
1.44
Negative
Market Momentum
<0.01
Negative
60.77
Neutral
86.40
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLBY, the sentiment is Positive. The current price of 1.23 is above the 20-day moving average (MA) of 1.06, above the 50-day MA of 1.11, and below the 200-day MA of 1.44, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 60.77 is Neutral, neither overbought nor oversold. The STOCH value of 86.40 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for PLBY.
Playboy Risk Analysis
Playboy disclosed 73 risk factors in its most recent earnings report. Playboy reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Playboy Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $374.26M | 14.31 | 10.30% | 3.09% | 9.22% | 330.79% | |
69 Neutral | $16.74B | 17.53 | 135.18% | 2.34% | 18.79% | ― | |
67 Neutral | $4.37B | 11.32 | 19.88% | 7.86% | 2.90% | -12.28% | |
64 Neutral | $3.13B | 18.50 | 27.27% | ― | 6.24% | 10.22% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
54 Neutral | $369.61M | -178.59 | -1.09% | ― | -3.92% | 96.88% | |
48 Neutral | $136.58M | 135.71 | 1.46% | ― | -18.17% | ― |
* Consumer Cyclical Sector Average
PLBY
Playboy
1.14
-0.18
-13.64%
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Playboy Corporate Events
Business Operations and StrategyStock BuybackRegulatory Filings and Compliance
Playboy Amends Insider-Backed Share Repurchase Arrangement
Positive
Oct 28, 2026
On June 18, 2026, Playboy, Inc. entered into a stock repurchase agreement with affiliates of Fortress Investment Group and a backstop agreement with entities affiliated with directors and stockholders György Gattyán and Suhail Rizvi, und...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.