Playboy, Inc.
- Open
- 1.21
- Day high
- 1.22
- Day low
- 1.17
- Prev close
- 1.20
- Volume
- 685K
- Mkt cap
- $141M
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 6.4
- P/S
- 1.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$10.8M over the last 3 months (0 open-market buys, 41 sales)
- 🏛Institutions reducing (13F)
Playboy, Inc. (PLBY) is a Consumer Cyclical company listed on NASDAQ. The stock is down 28% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 41 sales (SEC Form 4).
Playboy, Inc. (PLBY) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
PLBY earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 10, 2026 | $-0.00 | $0.00 | +152.0% | $31M | +5.1% |
| May 11, 2026 | $0.01 | $-0.03 | -400.0% | $30M | -1.6% |
| Mar 16, 2026 | $0.01 | $0.03 | +125.1% | $35M | +17.0% |
| Nov 12, 2025 | $-0.02 | $0.02 | +200.0% | $29M | -13.5% |
| Aug 12, 2025 | $-0.04 | $-0.04 | +0.0% | $28M | -5.3% |
| May 15, 2025 | $-0.10 | $-0.10 | +0.0% | $29M | +8.1% |
| Mar 13, 2025 | $-0.11 | $-0.15 | -36.4% | $83M | +521.7% |
| Aug 8, 2024 | $-0.13 | $-0.23 | -76.9% | $25M | -24.5% |
| May 9, 2024 | $-0.10 | $-0.23 | -130.0% | $28M | -11.6% |
| Nov 9, 2023 | $-0.15 | $-0.22 | -46.7% | $33M | -2.2% |
| May 10, 2023 | $-0.17 | $-0.52 | -205.9% | $51M | -8.9% |
| Mar 16, 2023 | $-0.13 | $-0.22 | -69.2% | $69M | -9.3% |
PLBY insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Aug 28, 2026 | Edmonds Tracey Edirector | Sell | 16,558 | $1.21 |
| Aug 25, 2026 | Drawbridge Special Opportunities Fund LP10 percent owner | Sell | 34,504 | $1.05 |
| Aug 25, 2026 | Drawbridge Special Opportunities Fund LP10 percent owner | Sell | 66,707 | $1.05 |
| Aug 25, 2026 | FIG Buyer GP, LLC10 percent owner | Sell | 557,456 | $1.05 |
| Aug 25, 2026 | FIG Buyer GP, LLC10 percent owner | Sell | 1,385,252 | $1.05 |
| Aug 25, 2026 | Drawbridge Special Opportunities Fund LP10 percent owner | Sell | 1,385,252 | $1.05 |
| Aug 25, 2026 | Drawbridge Special Opportunities Fund LP10 percent owner | Sell | 557,456 | $1.05 |
| Aug 25, 2026 | Drawbridge Special Opportunities Fund LP10 percent owner | Sell | 443,309 | $1.05 |
| Aug 25, 2026 | Drawbridge Special Opportunities Fund LP10 percent owner | Sell | 162,438 | $1.05 |
| Aug 25, 2026 | Drawbridge Special Opportunities Fund LP10 percent owner | Sell | 143,179 | $1.05 |
| Aug 25, 2026 | Drawbridge Special Opportunities Fund LP10 percent owner | Sell | 64,298 | $1.05 |
| Aug 25, 2026 | FIG Buyer GP, LLC10 percent owner | Sell | 34,504 | $1.05 |
| Aug 25, 2026 | FIG Buyer GP, LLC10 percent owner | Sell | 64,298 | $1.05 |
| Aug 25, 2026 | FIG Buyer GP, LLC10 percent owner | Sell | 66,707 | $1.05 |
| Aug 25, 2026 | FIG Buyer GP, LLC10 percent owner | Sell | 143,179 | $1.05 |
Source: PLBY SEC Form 4 filings, latest Aug 28, 2026. For informational purposes only — not investment advice.
See the full PLBY insider & 13F page →Playboy, Inc. company profile
Overview
PLBY Group, Inc. (NASDAQ:PLBY) is a pleasure and leisure company that operates the iconic Playboy brand, founded in 1953 by Hugh Hefner. The company went public in 2020 and has undergone significant strategic transformation in recent years, transitioning from a traditional media and consumer products company to an asset-light business model focused on licensing, digital content platforms, and strategic partnerships. PLBY operates globally with headquarters in Los Angeles, California, and has been working to modernize and monetize the Playboy brand across multiple digital and physical channels.
Business
PLBY Group operates as a pleasure and leisure company built around the globally recognized Playboy brand. The company's business is structured around three primary segments, though it has been actively restructuring toward a more focused, asset-light model. The Licensing segment represents the company's core growth driver, where PLBY licenses the Playboy brand and intellectual property to third-party partners across various categories including consumer products, online gaming, location-based entertainment, and e-commerce. This segment has been experiencing significant growth, with licensing revenue increasing 175% year-over-year in Q1 2025, largely driven by strategic partnerships like the Byborg deal which provides a $20 million annual minimum guarantee. The Digital Subscriptions and Content segment operates digital platforms including PlayboyPlus.com, Playboy.tv, and the creator platform called Centerfold. Centerfold functions as a subscription-based content platform where creators can monetize their content directly from fans, similar to other creator economy platforms. This segment generates approximately $5.4-5.5 million in quarterly revenue and represents the company's effort to capitalize on the growing creator economy trend. The Direct-to-Consumer segment historically included various retail operations and e-commerce platforms, but the company has been divesting most of these assets as part of its strategic pivot. The main remaining asset is Honey Birdette, an Australian luxury lingerie brand with both online and physical retail presence, though the company has been exploring strategic alternatives for this business as well. PLBY has also been working to revive traditional Playboy media properties, including relaunching the physical Playboy magazine in 2025 as a brand marketing vehicle and promotional platform for creators and models, though this is not intended as a primary revenue driver.
Revenue model
PLBY Group generates revenue through multiple business models, with the company strategically shifting toward higher-margin, asset-light revenue streams. The licensing business model has become the primary focus, where PLBY receives guaranteed minimum payments and royalty percentages from partners who use the Playboy brand across various categories. The Byborg partnership exemplifies this model, providing $20 million in annual guaranteed revenue with additional upside potential based on performance. The digital subscription model generates recurring revenue through the Centerfold creator platform, where PLBY takes approximately 20% of creator earnings, and through direct subscription services like PlayboyPlus.com. The creator platform operates on a marketplace model where fans pay creators for content access, with PLBY facilitating the transactions and taking a commission. The direct-to-consumer model through Honey Birdette involves traditional retail sales of luxury lingerie products, both online and through physical stores. However, this represents a capital-intensive model that the company is moving away from as part of its asset-light strategy. Several factors influence PLBY's margins and profitability. Positive margin drivers include the scalability of licensing deals with minimal incremental costs, the network effects of the creator platform as more creators and users join, and the premium positioning of the Playboy brand which commands higher royalty rates. The company's cost reduction initiatives, including eliminating over $18 million in annualized costs, also improve margins. Negative margin pressures come from the capital-intensive nature of retail operations, competitive pressures in the creator economy space from platforms like OnlyFans, macroeconomic headwinds affecting discretionary spending on luxury items, and the ongoing costs of maintaining and rebuilding the Playboy brand's relevance in modern markets. Currency fluctuations and regulatory changes in key markets like China also pose risks to international licensing revenue.
Competitive moat
PLBY Group's competitive moat is primarily built around the iconic Playboy brand, which represents one of the most recognizable lifestyle brands globally with nearly 70 years of brand heritage. The Playboy bunny logo and associated imagery have achieved cultural icon status, providing significant brand recognition and nostalgic value that would be extremely difficult and expensive for competitors to replicate. However, the strength of this moat has been challenged in recent years. The brand's association with traditional print media and changing cultural attitudes toward sexuality and gender representation have created headwinds. The company's moat is moderately strong but requires active management to maintain relevance with younger demographics while preserving the brand's core appeal. The licensing model provides some defensive characteristics through long-term guaranteed minimum payments and the difficulty partners would face in replacing the Playboy brand with alternatives. The creator platform benefits from potential network effects, though it faces intense competition from established players like OnlyFans that have significant scale advantages. Competitive threats come from multiple directions: other creator platforms with better technology and larger user bases, changing consumer preferences that may view the Playboy brand as outdated, and the risk that the brand's cultural relevance continues to decline. The company's pivot toward an asset-light model helps protect against some operational risks but doesn't address the fundamental challenge of maintaining brand relevance in evolving cultural contexts. The moat's sustainability depends heavily on management's ability to successfully modernize the brand while preserving its core appeal, execute on licensing partnerships, and build scale in the creator platform business.
Risks & safety
PLBY Group presents significant financial risk with limited margin of safety based on current metrics: • Liquidity concerns: Current ratio of 0.84 indicates current liabilities exceed current assets by approximately $8.5 million, though the company maintains $23.7 million in cash and short-term investments • High debt burden: Debt-to-equity ratio of 3.65 reflects substantial leverage, with total liabilities of $263.8 million against total assets of $270.6 million • Cash burn: Negative free cash flow of $7.7 million in Q1 2025, though this represents improvement from historical burn rates • Valuation metrics: Trading at 15.0x book value while generating negative earnings and EBITDA, indicating potential overvaluation relative to fundamentals • Operational losses: Negative EBITDA of $5.6 million in Q1 2025, though the company achieved positive adjusted EBITDA of $2.4 million when excluding certain costs • Solvency risk: Negative stockholders' equity position creates potential solvency concerns, though recent debt restructuring and strategic partnerships have improved the balance sheet • Positive developments: The Byborg partnership provides $20 million annual guaranteed revenue and additional $20 million payment scheduled for July 2025, which should improve liquidity
Recent development
PLBY Group has undergone dramatic strategic transformation over the past few years, fundamentally reshaping from a diversified consumer products company to an asset-light licensing and digital platform business. The most significant development has been the Byborg partnership, which provides $20 million in annual guaranteed licensing revenue and represents a $300 million minimum guarantee over 15 years, dramatically improving the company's financial stability. The company has systematically divested capital-intensive assets, including selling Yandy, licensing the Playboy.com e-commerce business, and exploring strategic alternatives for Lovers and Honey Birdette. This asset-light transition has been accompanied by aggressive cost reduction, with over $18 million in annualized costs eliminated and additional savings identified. Digital strategy initiatives include the development and scaling of the Centerfold creator platform, which has grown to nearly 4,000 earning creators and achieved approximately $15 million in annualized gross merchandise value. The platform represents PLBY's attempt to capitalize on the creator economy trend while leveraging the Playboy brand's appeal. The company has also focused on brand revitalization efforts, including the relaunch of the physical Playboy magazine in 2025, implementation of Playmate casting calls, and development of integrated content strategy across digital platforms. These initiatives aim to rebuild brand relevance while serving as promotional vehicles for the creator platform. International expansion has been restructured, particularly in China where the company renegotiated licensing agreements to provide better control and shorter-term commitments. New partnerships focus on working directly with operators rather than intermediaries, and the company has established presence on platforms like Douyin (TikTok's Chinese version). Recent quarters have shown improving operational metrics, with the company targeting free cash flow positive status and achieving positive adjusted EBITDA in Q1 2025, representing significant progress from the substantial losses of previous years.
PLBY company profile · for informational purposes only — not investment advice.
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