PLBY Group (PLBY) AI Stock Analysis

• Market Cap: $89.57M
• Dividend Yield: N/A
• Average Volume (3M): 643.05K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.33
• Revenue Growth: -6.16%
• EPS Growth: 57.51%
• Country: US
• Employees: 249
• Sector: Consumer Cyclical
• Sector Strength: 60
• Industry: Leisure
• EPS (TTM): -1.06
• Shares Outstanding: 93,747,070
• 10 Day Avg. Volume: 510,880
• 30 Day Avg. Volume: 643,052
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): 0.97
• Price to Cash Flow (P/CF): 88.20
• P/FCF Ratio: 88.20
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: $2.05
• Price Target Upside: 120.43% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 2

PLBY Group's overall stock score reflects significant financial struggles and valuation issues, with technical indicators pointing to bearish sentiment. However, strategic moves towards an asset-light model and projected positive cash flow provide a silver lining, suggesting potential for recovery if successfully executed.

Positive Factors

Debt Management

PLBY Group has reached an agreement with senior lenders to repay its senior debt at a significant discount, aiming to reduce total leverage and future interest payments.

Licensing Agreement

A new 7-year licensing agreement with Sunny Cusco grants exclusive rights to develop and sell apparel and other products on the shop.playboy.com website.

Strategic Business Development

Management is focusing on license-first strategy by selling non-core businesses, raising capital, rationalizing costs, and developing new license revenue streams.

Negative Factors

Business Strategy Concerns

Concerns have been raised about PLBY’s business level performance, strategy, and balance sheet, affecting market perception and confidence.

Financial Performance

PLBY Group reported soft Q2 results with both revenue and adjusted EBITDA falling well below expectations due to the gradual recovery of the licensing business.

Revenue Decline

Reduced promotions drove a ~29% year-over-year decline in Honey Birdette's total revenue, which came in at $24.9 million for Q2, significantly below expectations.

PLBY Group Business Overview & Revenue Model

Company Description

PLBY Group, Inc., commonly known as Playboy, is a global lifestyle and entertainment company. It operates across several sectors, including digital content, licensing, and consumer products. The company is well-known for its iconic Playboy magazine, which has evolved from print to a digital-focused platform. In addition to media, PLBY Group manages a diverse portfolio of consumer products including apparel, accessories, and sexual wellness items, leveraging the Playboy brand's cultural influence and recognition worldwide.

How the Company Makes Money

PLBY Group generates revenue through multiple streams. A significant portion comes from licensing agreements, where the company allows third parties to use the Playboy brand on various products, ranging from apparel to home goods. The digital content segment, which includes subscriptions to Playboy's online content and other digital media initiatives, also contributes to the revenue. Additionally, the company earns from direct-to-consumer sales of Playboy-branded merchandise and sexual wellness products. Strategic partnerships and collaborations, particularly in expanding market presence and brand visibility, play a crucial role in driving PLBY Group's earnings.

PLBY Group Financial Statement Overview

Summary

PLBY Group faces significant financial challenges across all financial statement verticals. Negative revenue growth, declining profitability, and high financial leverage underscore the need for strategic restructuring. The liquidity and solvency risks are pronounced, with negative equity and cash flow constraints pointing to potential sustainability issues unless corrective actions are taken.

Income Statement

PLBY Group's income statement reflects a challenging financial situation with declining revenues and significant negative net income over the past years. The gross profit margin decreased from 59.9% in 2020 to 64.0% in 2024. Revenue growth is negative, indicating a contraction. Additionally, EBIT and EBITDA margins are negative, highlighting operational inefficiencies.

Balance Sheet

The balance sheet shows high leverage with a negative stockholders' equity in 2024, indicative of financial distress. The debt-to-equity ratio is not calculable for 2024 due to negative equity, and the equity ratio is negative, signaling potential solvency issues. Despite a reduction in total liabilities, the continuous net losses have eroded equity.

Cash Flow

PLBY's cash flow statements reveal a consistent negative free cash flow, worsening from -$71,000 in 2020 to -$21.4 million in 2024. Operating cash flow is also negative, reflecting ongoing cash burn without sufficient inflow from operations. The free cash flow to net income ratio and operating cash flow to net income ratio are unfavorable, indicating inefficiency in cash generation relative to net income.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
105.43M	116.14M	142.95M	266.93M	246.57M	147.66M
	Gross Profit
67.64M	74.36M	88.17M	137.29M	131.72M	74.48M
	EBIT
-41.34M	-79.40M	-190.37M	-23.21M	-69.62M	13.61M
	EBITDA
-39.79M	-79.40M	-164.08M	-270.52M	-53.38M	15.87M
	Net Income Common Stockholders
-76.49M	-79.40M	-180.42M	-277.70M	-79.72M	-5.27M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
27.74M	30.90M	28.12M	31.64M	69.25M	13.43M
	Total Assets
418.65M	284.70M	334.25M	552.46M	935.41M	412.13M
	Total Debt
174.49M	25.85M	222.00M	239.83M	274.08M	164.93M
	Net Debt
146.75M	-5.06M	193.88M	208.19M	204.84M	151.50M
	Total Liabilities
333.56M	268.78M	288.57M	397.42M	513.12M	329.11M
	Stockholders Equity
85.30M	-7.73M	45.89M	155.25M	422.49M	83.02M
Cash Flow		Free Cash Flow
-24.69M	-21.40M	-46.84M	-67.66M	-54.25M	-71.00K
	Operating Cash Flow
-21.38M	-19.14M	-43.29M	-59.61M	-36.74M	813.00K
	Investing Cash Flow
12.06M	-318.00K	12.95M	8.75M	-273.18M	-5.47M
	Financing Cash Flow
-1.63M	0.00	26.18M	11.56M	370.47M	-8.49M

PLBY Group Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.93
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLBY, the sentiment is Negative. The current price of 0.93 is below the 20-day moving average (MA) of 1.11, below the 50-day MA of 1.48, and below the 200-day MA of 1.12, indicating a bearish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 37.37 is Neutral, neither overbought nor oversold. The STOCH value of 28.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PLBY.

PLBY Group Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	59 Neutral	$10.97B	9.83	-1.56%	4.06%	1.31%	-16.49%
QVCGA	48 Neutral	$111.70M	―		―	-8.04%	-791.84%
DIBS	45 Neutral	$92.09M	―	-15.95%	―	4.22%	13.35%
PLBY	42 Neutral	$89.57M	―	-262.14%	―	-6.16%	57.51%
VRA	42 Neutral	$59.00M	―	-28.34%	―	-20.99%	-976.24%
PLCE	33 Underperform	$80.80M	―	-521.67%	―	-10.65%	-129.52%
FFAI	24 Underperform	$94.46M	―	-207.37%	―	-31.25%	98.68%

PLBY Group Corporate Events

PLBY Group Releases Investor Presentation for 2025

On March 17, 2025, PLBY Group, Inc. announced the availability of an investor presentation on its website, intended for use in investor communications and conferences. The presentation, while not filed under the United States Securities Exchange Act of 1934, includes forward-looking statements reflecting management’s expectations and assumptions about future performance, subject to various risks and uncertainties.

PLBY Group Appoints Gyorgy Gattyan to Board Amid Changes

PLBY Group announced the appointment of Gyorgy Gattyan to its Board of Directors on February 11, 2025, following the expansion of the board from five to seven directors. This expansion is part of the company’s strategic partnership with Byborg Enterprises S.A., controlled by Mr. Gattyan, which includes significant investments and a long-term license agreement. However, the board’s composition currently does not meet Nasdaq’s requirements for independent directors, prompting efforts to appoint an additional independent director to comply with listing rules. This development reflects PLBY Group’s ongoing shift towards a digital-focused, asset-light business model, aiming to leverage Mr. Gattyan’s extensive experience in digital technology and entrepreneurship to drive growth.

PLBY Group Advances Deleveraging with Stock Conversion

On January 29, 2025, PLBY Group, Inc. completed the conversion of 7,000 shares of its Series B Convertible Preferred Stock into 3,784,688 shares of common stock as part of its balance sheet streamlining efforts. This conversion, which did not result in any financial proceeds for the company, was executed at a price of $1.85 per share, a 23% premium over the previous securities purchase agreement price. The move reduced the outstanding Series B shares to 21,000.00001 and increased the common stock to 93,736,325 shares, reflecting the company’s ongoing deleveraging strategy.