vs
American Homes 4 Rent（AMH）与六旗（FUN）财务数据对比。点击上方公司名可切换其他公司
American Homes 4 Rent的季度营收约是六旗的2.0倍（$455.0M vs $225.6M），American Homes 4 Rent净利率更高（31.7% vs -119.0%，领先150.8%），六旗同比增速更快（11.7% vs 4.2%）
AMH（American Homes 4 Rent）是总部位于美国内华达州拉斯维加斯的住宅房地产投资信托基金，主打单户住宅租赁业务。截至2019年12月31日，公司在全美22个州共持有52552套住宅，资产主要集中在亚特兰大、达拉斯-沃斯堡及北卡罗来纳州夏洛特地区。
六旗娱乐是总部位于美国北卡罗来纳州夏洛特的游乐园运营企业，由雪松会与原六旗公司于2024年7月1日对等合并而成，是全球最大的区域性游乐园运营商。旗下共运营42个场地，包含27座游乐园、15座水上乐园，配套9处 onsite 度假物业。
AMH vs FUN — 直观对比
营收规模更大
AMH
是对方的2.0倍
$225.6M
营收增速更快
FUN
高出7.5%
4.2%
净利率更高
AMH
高出150.8%
-119.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $455.0M | $225.6M |
| 净利润 | $144.3M | $-268.6M |
| 毛利率 | — | — |
| 营业利润率 | — | — |
| 净利率 | 31.7% | -119.0% |
| 营收同比 | 4.2% | 11.7% |
| 净利润同比 | 0.3% | -22.2% |
| 每股收益（稀释后） | $0.33 | — |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AMHFUN
| Q1 26 | — | $225.6M | ||
| Q4 25 | $455.0M | $650.1M | ||
| Q3 25 | $478.5M | $1.3B | ||
| Q2 25 | $457.5M | $930.4M | ||
| Q1 25 | $459.3M | $202.1M | ||
| Q4 24 | $436.6M | — | ||
| Q3 24 | $445.1M | $1.3B | ||
| Q2 24 | $423.5M | $571.6M |
净利润AMHFUN
| Q1 26 | — | $-268.6M | ||
| Q4 25 | $144.3M | $-92.4M | ||
| Q3 25 | $116.8M | $-1.2B | ||
| Q2 25 | $123.6M | $-99.6M | ||
| Q1 25 | $128.7M | $-219.7M | ||
| Q4 24 | $143.9M | — | ||
| Q3 24 | $87.6M | $111.0M | ||
| Q2 24 | $108.5M | $55.6M |
毛利率AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | — | 91.4% | ||
| Q3 25 | — | 91.6% | ||
| Q2 25 | — | 91.3% | ||
| Q1 25 | — | 89.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 91.9% | ||
| Q2 24 | — | 90.7% |
营业利润率AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | — | -3.8% | ||
| Q3 25 | — | -83.7% | ||
| Q2 25 | — | 8.0% | ||
| Q1 25 | — | -158.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 19.5% | ||
| Q2 24 | — | 21.6% |
净利率AMHFUN
| Q1 26 | — | -119.0% | ||
| Q4 25 | 31.7% | -14.2% | ||
| Q3 25 | 24.4% | -90.1% | ||
| Q2 25 | 27.0% | -10.7% | ||
| Q1 25 | 28.0% | -108.7% | ||
| Q4 24 | 33.0% | — | ||
| Q3 24 | 19.7% | 8.2% | ||
| Q2 24 | 25.6% | 9.7% |
每股收益（稀释后）AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | $0.33 | $-0.93 | ||
| Q3 25 | $0.27 | $-11.77 | ||
| Q2 25 | $0.28 | $-0.99 | ||
| Q1 25 | $0.30 | $-2.20 | ||
| Q4 24 | $0.33 | — | ||
| Q3 24 | $0.20 | $1.10 | ||
| Q2 24 | $0.25 | — |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $108.5M | $116.5M |
| 总债务越低越好 | $5.1B | — |
| 股东权益账面价值 | $7.0B | $279.2M |
| 总资产 | $13.2B | $7.7B |
| 负债/权益比越低杠杆越低 | 0.72× | — |
8季度趋势，按日历期对齐
现金及短期投资AMHFUN
| Q1 26 | — | $116.5M | ||
| Q4 25 | $108.5M | $91.1M | ||
| Q3 25 | $45.6M | $70.7M | ||
| Q2 25 | $323.3M | $107.4M | ||
| Q1 25 | $69.7M | $61.5M | ||
| Q4 24 | $199.4M | — | ||
| Q3 24 | $162.5M | $89.7M | ||
| Q2 24 | $718.4M | $52.9M |
总债务AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | $5.1B | $5.2B | ||
| Q3 25 | $4.8B | $5.0B | ||
| Q2 25 | $5.2B | $5.3B | ||
| Q1 25 | $4.9B | $5.0B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $4.5B | $4.6B | ||
| Q2 24 | $5.0B | $2.3B |
股东权益AMHFUN
| Q1 26 | — | $279.2M | ||
| Q4 25 | $7.0B | $549.8M | ||
| Q3 25 | $7.2B | $614.3M | ||
| Q2 25 | $7.2B | $1.8B | ||
| Q1 25 | $7.2B | $1.8B | ||
| Q4 24 | $7.2B | — | ||
| Q3 24 | $7.0B | $2.3B | ||
| Q2 24 | $7.0B | — |
总资产AMHFUN
| Q1 26 | — | $7.7B | ||
| Q4 25 | $13.2B | $7.8B | ||
| Q3 25 | $13.3B | $7.9B | ||
| Q2 25 | $13.6B | $9.5B | ||
| Q1 25 | $13.3B | $9.2B | ||
| Q4 24 | $13.4B | — | ||
| Q3 24 | $12.8B | $9.4B | ||
| Q2 24 | $13.3B | $2.3B |
负债/权益比AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | 0.72× | 9.40× | ||
| Q3 25 | 0.68× | 8.16× | ||
| Q2 25 | 0.72× | 2.97× | ||
| Q1 25 | 0.69× | 2.75× | ||
| Q4 24 | 0.70× | — | ||
| Q3 24 | 0.64× | 1.95× | ||
| Q2 24 | 0.71× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $864.3M | — |
| 自由现金流经营现金流 - 资本支出 | $823.7M | — |
| 自由现金流率自由现金流/营收 | 181.0% | — |
| 资本支出强度资本支出/营收 | 8.9% | — |
| 现金转化率经营现金流/净利润 | 5.99× | — |
| 过去12个月自由现金流最近4个季度 | $1.5B | — |
8季度趋势，按日历期对齐
经营现金流AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | $864.3M | $-37.7M | ||
| Q3 25 | $223.3M | $356.2M | ||
| Q2 25 | $271.9M | $187.0M | ||
| Q1 25 | $223.4M | $-178.0M | ||
| Q4 24 | $811.5M | — | ||
| Q3 24 | $233.6M | $337.4M | ||
| Q2 24 | $274.0M | — |
自由现金流AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | $823.7M | $-109.3M | ||
| Q3 25 | $214.5M | $256.2M | ||
| Q2 25 | $257.7M | $18.8M | ||
| Q1 25 | $215.9M | $-318.0M | ||
| Q4 24 | $777.5M | — | ||
| Q3 24 | $225.3M | $227.7M | ||
| Q2 24 | $263.3M | — |
自由现金流率AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | 181.0% | -16.8% | ||
| Q3 25 | 44.8% | 19.4% | ||
| Q2 25 | 56.3% | 2.0% | ||
| Q1 25 | 47.0% | -157.4% | ||
| Q4 24 | 178.1% | — | ||
| Q3 24 | 50.6% | 16.9% | ||
| Q2 24 | 62.2% | — |
资本支出强度AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | 8.9% | 11.0% | ||
| Q3 25 | 1.8% | 7.6% | ||
| Q2 25 | 3.1% | 18.1% | ||
| Q1 25 | 1.6% | 69.3% | ||
| Q4 24 | 7.8% | — | ||
| Q3 24 | 1.9% | 8.1% | ||
| Q2 24 | 2.5% | — |
现金转化率AMHFUN
| Q1 26 | — | — | ||
| Q4 25 | 5.99× | — | ||
| Q3 25 | 1.91× | — | ||
| Q2 25 | 2.20× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 5.64× | — | ||
| Q3 24 | 2.67× | 3.04× | ||
| Q2 24 | 2.52× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AMH
暂无分部数据
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
