# Dave & Buster's Entertainment, Inc. (PLAY)

> Source: Nexqual · https://nexqual.com/PLAY · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Dave & Buster's Entertainment, Inc. (PLAY), nexqual.com/PLAY" · informational, not investment advice.

**Price:** USD 7.46 (+3.18% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 7.23 · day 7.11–7.52 · 52w 6.26–22.1 · market cap $260M · NMS

## Key facts
- Last four reported quarters (through Aug 4, 2026): revenue $2.08B, net income -$88.6M (-4.3% margin), free cash flow -$16.0M (SEC filings).
- 1 of 80 tracked superinvestors hold PLAY (13F, Q2 2026): 0 new, 0 added, 1 reduced, 0 unchanged.
- Analysts: Hold (mean 2.70 on a 1–5 scale) (10 analysts), mean target USD 13 (range 9–22).
- Total return with dividends: 1Y -58.0% vs S&P 500 +14.9%; 5Y -80.5% vs S&P 500 +80.3%.
- Next earnings: 2026-12-08, EPS estimate USD -1.43, revenue estimate $449M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.30B | $1.96B | $2.21B | $2.13B | $2.10B | $2.08B |
| Gross profit | $1.10B | $1.64B | $1.85B | $1.82B | $1.80B | — |
| Operating income | $187M | $263M | $307M | $220M | $86.1M | $36.2M |
| Net income | $109M | $137M | $127M | $58.3M | -$48.7M | -$88.6M |
| EPS (diluted) | $2.21 | $2.79 | $2.88 | $1.46 | -$1.40 | — |
| Free cash flow | $191M | $210M | $34.0M | -$218M | -$101M | -$16.0M |
| Gross margin | 84.3% | 83.5% | 84.0% | 85.3% | 85.7% | — |
| Operating margin | 14.4% | 13.4% | 13.9% | 10.3% | 4.1% | 1.7% |
| Net margin | 8.3% | 7.0% | 5.8% | 2.7% | -2.3% | -4.3% |
| Revenue growth | +198.7% | +50.6% | +12.3% | -3.3% | -1.4% | — |
| Cash + short-term investments | $25.9M | $182M | $37.3M | $6.9M | $16.6M | — |
| Total debt | $440M | $1.29B | $1.34B | $1.52B | $1.55B | — |
Fiscal years end Feb. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 4, 2026)
P/S 0.1x · EV/EBITDA 5.4x · EV/Sales 0.8x · P/B 3.0x · FCF yield -6.16% · Earnings yield -34.10% · Buyback yield (TTM) 0.00% · Net debt $1.52B · EV $1.78B
P/E at fiscal year-ends: Feb 2025 14.3x, Feb 2024 21.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold PLAY. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Samantha McLemore | Patient Capital Management | 0.08% | $2.3M | Reduced -82.3% |

## Analysts
Consensus Hold (mean 2.70 on a 1–5 scale), 10 analysts; mean target USD 13 (low 9, high 22).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-15 | UBS | Target lowered | Neutral | $12 → $9 |
| 2026-09-15 | BMO Capital | Target lowered | Outperform | $22 → $13 |
| 2026-09-15 | Freedom Capital Markets | Target lowered | Hold | $13 → $9 |
| 2026-06-29 | Citizens | Initiated | Market Perform |  |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -58.0% | -80.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -58.1% | -27.8% |
| Volatility (annualized) | 74.5% | 58.8% |
| Max drawdown | -69.9% (Jan 2026→Sep 2026) | -89.8% (Apr 2024→Sep 2026) |

## Peers (Entertainment)
AMCX (AMC Global Media Inc.) USD 9.33 -3.22% · STRZ (Starz Entertainment Corp.) USD 23.22 -5.22% · HUYA (HUYA Inc.) USD 2.23 -0.89% · RSVR (Reservoir Media, Inc..) USD 9.6 +0.84% · ANGX (Angel Studios, Inc.) USD 3.48 -0.29% · IQ (iQIYI, Inc.) USD 0.91 -1.31%

## More
Full page: https://nexqual.com/PLAY · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-08-04)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Entertainment revenues | $332.6M | 61.1% | -8.8% |
| — Entertainment (part of Entertainment revenues) | $326.8M | 60.1% | -8.8% |
| — Other (part of Entertainment revenues) | $5.8M | 1.1% | -7.9% |
| Food and beverage revenues | $211.5M | 38.9% | +9.6% |
| — Food and non-alcoholic beverages (part of Food and beverage revenues) | $151.4M | 27.8% | +11.3% |
| — Alcoholic beverages (part of Food and beverage revenues) | $60.1M | 11.0% | +5.6% |
| Total revenue | $544.1M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-10-31) | $-1.43 | $-1.24 | +15.3% | $449.0M | 8 |
| Next quarter (ends 2027-01-31) | $-0.19 | $-0.06 | +193.8% | $541.7M | 8 |
| Current fiscal year (ends 2027-01-31) | $-1.66 | $-0.89 | +87.5% | $2.09B | 8 |
| Next fiscal year (ends 2028-01-31) | $-1.39 | $-0.55 | +152.8% | $2.16B | 7 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-12-18 (includes earnings 2026-12-08): ±26.0%; earnings reaction alone ±11.2%; last 8 reports averaged ±15.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 75.1% | ±17.4% |
| 2026-12-18 | 56 | 82.5% | ±26.0% |
| 2027-01-15 | 84 | 79.6% | ±30.4% |
| 2027-04-16 | 175 | 79.5% | ±41.0% |