Playboy Inc. Common Stock (PLBY)

FairStock Score: 31/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as Graham would: first ask what is proven, then what is paid. Playboy sells sexual wellness, apparel, and licenses its name. The filed record shows very little earning power. In FY2025, the year ended 2025-12-31, revenue was $120.9M and net loss was $12.7M, or -$0.13 per diluted share. FY2024 had revenue of $116.1M and a net loss of $79.4M; FY2023 revenue was $142.9M with a net loss of $180.4M. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $31.2M and net income was $198,000, or $0.00 per diluted share—barely positive. That is not a durable profit machine. The licensing model could be asset-light and brand-driven, but the brand is not yet producing consistent owner earnings. FairStock calculations show ROE of 2.35%, ROCE of 0.51%, a 1.4% free-cash-flow yield, and an Altman Z-score of -3.09, which flags distress risk. Debt/equity of 8.49 is stretched. At the 2026-10-13 close of $1.02, market cap is $122.2M. FairStock's P/E is 51, P/B is 5.37, and EV/EBITDA is 16.21. The Graham Number is $0.29, so the margin of safety is -251.72%; the price is far above a conservative asset-and-earnings value. Revenue grew from $28.1M in fiscal Q2 2025 to $31.2M in fiscal Q2 2026, but annual FY2025 revenue of $120.9M remained below FY2023's $142.9M. Piotroski is 5/9, and FairStock Score is 31/100. I see a speculative brand turnaround, not a value investment.

In plain English: Playboy sells sexual wellness products, lingerie, apparel and licenses its brand. The business has lost money in recent years and profit margins are thin, though the latest quarter was barely profitable. At $1.02 a share, the price looks high compared with the company's small profits and assets, so it appears expensive rather than cheap.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer