vs
Asana, Inc.（ASAN）与六旗（FUN）财务数据对比。点击上方公司名可切换其他公司
六旗的季度营收约是Asana, Inc.的1.1倍（$225.6M vs $201.0M），Asana, Inc.净利率更高（-34.0% vs -119.0%，领先85.0%），六旗同比增速更快（11.7% vs 9.3%）
Asana是一家总部位于美国旧金山的软件企业，由达斯汀·莫斯科维茨和贾斯汀·罗森斯坦于2008年创立，核心产品是同名工作管理平台，支持网页端与移动端使用，可帮助团队梳理、跟踪及统筹各类工作事项，2012年4月正式商业化推出，2020年9月直接上市，当时估值达55亿美元。
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。
ASAN vs FUN — 直观对比
营收规模更大
FUN
是对方的1.1倍
$201.0M
营收增速更快
FUN
高出2.3%
9.3%
净利率更高
ASAN
高出85.0%
-119.0%
损益表 — Q3 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $201.0M | $225.6M |
| 净利润 | $-68.4M | $-268.6M |
| 毛利率 | 88.9% | — |
| 营业利润率 | -34.8% | — |
| 净利率 | -34.0% | -119.0% |
| 营收同比 | 9.3% | 11.7% |
| 净利润同比 | -19.4% | -22.2% |
| 每股收益（稀释后） | $-0.29 | — |
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ASANFUN
| Q1 26 | — | $225.6M | ||
| Q4 25 | $201.0M | $650.1M | ||
| Q3 25 | $196.9M | $1.3B | ||
| Q2 25 | $187.3M | $930.4M | ||
| Q1 25 | $188.3M | $202.1M | ||
| Q4 24 | $183.9M | — | ||
| Q3 24 | $179.2M | $1.3B | ||
| Q2 24 | $172.4M | $571.6M |
净利润ASANFUN
| Q1 26 | — | $-268.6M | ||
| Q4 25 | $-68.4M | $-92.4M | ||
| Q3 25 | $-48.4M | $-1.2B | ||
| Q2 25 | $-40.0M | $-99.6M | ||
| Q1 25 | $-62.3M | $-219.7M | ||
| Q4 24 | $-57.3M | — | ||
| Q3 24 | $-72.2M | $111.0M | ||
| Q2 24 | $-63.7M | $55.6M |
毛利率ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | 88.9% | 91.4% | ||
| Q3 25 | 89.7% | 91.6% | ||
| Q2 25 | 89.7% | 91.3% | ||
| Q1 25 | 89.6% | 89.3% | ||
| Q4 24 | 89.2% | — | ||
| Q3 24 | 88.8% | 91.9% | ||
| Q2 24 | 89.7% | 90.7% |
营业利润率ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | -34.8% | -3.8% | ||
| Q3 25 | -25.1% | -83.7% | ||
| Q2 25 | -23.4% | 8.0% | ||
| Q1 25 | -33.8% | -158.9% | ||
| Q4 24 | -32.7% | — | ||
| Q3 24 | -42.9% | 19.5% | ||
| Q2 24 | -38.4% | 21.6% |
净利率ASANFUN
| Q1 26 | — | -119.0% | ||
| Q4 25 | -34.0% | -14.2% | ||
| Q3 25 | -24.6% | -90.1% | ||
| Q2 25 | -21.4% | -10.7% | ||
| Q1 25 | -33.1% | -108.7% | ||
| Q4 24 | -31.2% | — | ||
| Q3 24 | -40.3% | 8.2% | ||
| Q2 24 | -37.0% | 9.7% |
每股收益（稀释后）ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | $-0.29 | $-0.93 | ||
| Q3 25 | $-0.20 | $-11.77 | ||
| Q2 25 | $-0.17 | $-0.99 | ||
| Q1 25 | $-0.27 | $-2.20 | ||
| Q4 24 | $-0.25 | — | ||
| Q3 24 | $-0.31 | $1.10 | ||
| Q2 24 | $-0.28 | — |
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 | $183.5M | $116.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $188.4M | $279.2M |
| 总资产 | $840.4M | $7.7B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资ASANFUN
| Q1 26 | — | $116.5M | ||
| Q4 25 | $183.5M | $91.1M | ||
| Q3 25 | $184.1M | $70.7M | ||
| Q2 25 | $193.8M | $107.4M | ||
| Q1 25 | $184.7M | $61.5M | ||
| Q4 24 | $196.8M | — | ||
| Q3 24 | $219.4M | $89.7M | ||
| Q2 24 | $222.0M | $52.9M |
总债务ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | — | $5.2B | ||
| Q3 25 | — | $5.0B | ||
| Q2 25 | — | $5.3B | ||
| Q1 25 | — | $5.0B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $2.3B |
股东权益ASANFUN
| Q1 26 | — | $279.2M | ||
| Q4 25 | $188.4M | $549.8M | ||
| Q3 25 | $224.6M | $614.3M | ||
| Q2 25 | $236.3M | $1.8B | ||
| Q1 25 | $227.5M | $1.8B | ||
| Q4 24 | $239.3M | — | ||
| Q3 24 | $291.9M | $2.3B | ||
| Q2 24 | $319.9M | — |
总资产ASANFUN
| Q1 26 | — | $7.7B | ||
| Q4 25 | $840.4M | $7.8B | ||
| Q3 25 | $883.2M | $7.9B | ||
| Q2 25 | $877.1M | $9.5B | ||
| Q1 25 | $891.4M | $9.2B | ||
| Q4 24 | $874.2M | — | ||
| Q3 24 | $945.4M | $9.4B | ||
| Q2 24 | $978.2M | $2.3B |
负债/权益比ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | — | 9.40× | ||
| Q3 25 | — | 8.16× | ||
| Q2 25 | — | 2.97× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | — | — |
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 | $16.2M | — |
| 自由现金流经营现金流 - 资本支出 | $15.5M | — |
| 自由现金流率自由现金流/营收 | 7.7% | — |
| 资本支出强度资本支出/营收 | 0.3% | — |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $74.5M | — |
8季度趋势，按日历期对齐
经营现金流ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | $16.2M | $-37.7M | ||
| Q3 25 | $39.8M | $356.2M | ||
| Q2 25 | $6.8M | $187.0M | ||
| Q1 25 | $15.9M | $-178.0M | ||
| Q4 24 | $-14.9M | — | ||
| Q3 24 | $15.9M | $337.4M | ||
| Q2 24 | $-1.9M | — |
自由现金流ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | $15.5M | $-109.3M | ||
| Q3 25 | $38.5M | $256.2M | ||
| Q2 25 | $6.1M | $18.8M | ||
| Q1 25 | $14.3M | $-318.0M | ||
| Q4 24 | $-16.3M | — | ||
| Q3 24 | $14.2M | $227.7M | ||
| Q2 24 | $-2.9M | — |
自由现金流率ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | 7.7% | -16.8% | ||
| Q3 25 | 19.6% | 19.4% | ||
| Q2 25 | 3.3% | 2.0% | ||
| Q1 25 | 7.6% | -157.4% | ||
| Q4 24 | -8.8% | — | ||
| Q3 24 | 7.9% | 16.9% | ||
| Q2 24 | -1.7% | — |
资本支出强度ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | 0.3% | 11.0% | ||
| Q3 25 | 0.7% | 7.6% | ||
| Q2 25 | 0.3% | 18.1% | ||
| Q1 25 | 0.8% | 69.3% | ||
| Q4 24 | 0.7% | — | ||
| Q3 24 | 0.9% | 8.1% | ||
| Q2 24 | 0.6% | — |
现金转化率ASANFUN
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 3.04× | ||
| Q2 24 | — | — |
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
ASAN
| US | $118.5M | 59% |
| Non Us | $82.5M | 41% |
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
