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Alphatec Holdings, Inc.（ATEC）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Alphatec Holdings, Inc.的1.1倍（$225.6M vs $212.9M），Alphatec Holdings, Inc.净利率更高（-10.2% vs -119.0%，领先108.8%），Alphatec Holdings, Inc.同比增速更快（20.4% vs 11.7%）
Alphatec Holdings是一家全球医疗科技企业，专注于研发、生产及销售脊柱外科手术相关的植入物、手术器械与数字化手术平台，服务骨科及神经外科医疗从业者，核心市场覆盖北美、欧洲及亚太主要区域。
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。
ATEC vs FUN — 直观对比
营收规模更大
FUN
是对方的1.1倍
$212.9M
营收增速更快
ATEC
高出8.8%
11.7%
净利率更高
ATEC
高出108.8%
-119.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $212.9M | $225.6M |
| 净利润 | $-21.7M | $-268.6M |
| 毛利率 | 70.2% | — |
| 营业利润率 | -4.1% | — |
| 净利率 | -10.2% | -119.0% |
| 营收同比 | 20.4% | 11.7% |
| 净利润同比 | 34.8% | -22.2% |
| 每股收益（稀释后） | $-0.15 | — |
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ATECFUN
| Q1 26 | — | $225.6M | ||
| Q4 25 | $212.9M | $650.1M | ||
| Q3 25 | $196.5M | $1.3B | ||
| Q2 25 | $185.5M | $930.4M | ||
| Q1 25 | $169.2M | $202.1M | ||
| Q4 24 | $176.8M | — | ||
| Q3 24 | $150.7M | $1.3B | ||
| Q2 24 | $145.6M | $571.6M |
净利润ATECFUN
| Q1 26 | — | $-268.6M | ||
| Q4 25 | $-21.7M | $-92.4M | ||
| Q3 25 | $-28.6M | $-1.2B | ||
| Q2 25 | $-41.1M | $-99.6M | ||
| Q1 25 | $-51.9M | $-219.7M | ||
| Q4 24 | $-33.3M | — | ||
| Q3 24 | $-39.6M | $111.0M | ||
| Q2 24 | $-40.7M | $55.6M |
毛利率ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | 70.2% | 91.4% | ||
| Q3 25 | 69.9% | 91.6% | ||
| Q2 25 | 69.6% | 91.3% | ||
| Q1 25 | 68.6% | 89.3% | ||
| Q4 24 | 68.8% | — | ||
| Q3 24 | 68.2% | 91.9% | ||
| Q2 24 | 70.5% | 90.7% |
营业利润率ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | -4.1% | -3.8% | ||
| Q3 25 | -8.1% | -83.7% | ||
| Q2 25 | -7.1% | 8.0% | ||
| Q1 25 | -26.2% | -158.9% | ||
| Q4 24 | -13.5% | — | ||
| Q3 24 | -22.4% | 19.5% | ||
| Q2 24 | -24.3% | 21.6% |
净利率ATECFUN
| Q1 26 | — | -119.0% | ||
| Q4 25 | -10.2% | -14.2% | ||
| Q3 25 | -14.5% | -90.1% | ||
| Q2 25 | -22.2% | -10.7% | ||
| Q1 25 | -30.7% | -108.7% | ||
| Q4 24 | -18.9% | — | ||
| Q3 24 | -26.3% | 8.2% | ||
| Q2 24 | -27.9% | 9.7% |
每股收益（稀释后）ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | $-0.15 | $-0.93 | ||
| Q3 25 | $-0.19 | $-11.77 | ||
| Q2 25 | $-0.27 | $-0.99 | ||
| Q1 25 | $-0.35 | $-2.20 | ||
| Q4 24 | $-0.22 | — | ||
| Q3 24 | $-0.28 | $1.10 | ||
| Q2 24 | $-0.29 | — |
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 | $160.8M | $116.5M |
| 总债务越低越好 | $565.9M | — |
| 股东权益账面价值 | $12.4M | $279.2M |
| 总资产 | $791.2M | $7.7B |
| 负债/权益比越低杠杆越低 | 45.54× | — |
8季度趋势，按日历期对齐
现金及短期投资ATECFUN
| Q1 26 | — | $116.5M | ||
| Q4 25 | $160.8M | $91.1M | ||
| Q3 25 | $155.7M | $70.7M | ||
| Q2 25 | $157.1M | $107.4M | ||
| Q1 25 | $153.2M | $61.5M | ||
| Q4 24 | $138.8M | — | ||
| Q3 24 | $81.0M | $89.7M | ||
| Q2 24 | $99.8M | $52.9M |
总债务ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | $565.9M | $5.2B | ||
| Q3 25 | $559.7M | $5.0B | ||
| Q2 25 | $553.9M | $5.3B | ||
| Q1 25 | $548.4M | $5.0B | ||
| Q4 24 | $576.2M | — | ||
| Q3 24 | $527.7M | $4.6B | ||
| Q2 24 | $519.2M | $2.3B |
股东权益ATECFUN
| Q1 26 | — | $279.2M | ||
| Q4 25 | $12.4M | $549.8M | ||
| Q3 25 | $11.5M | $614.3M | ||
| Q2 25 | $23.8M | $1.8B | ||
| Q1 25 | $-85.9M | $1.8B | ||
| Q4 24 | $-14.2M | — | ||
| Q3 24 | $-1.4M | $2.3B | ||
| Q2 24 | $17.1M | — |
总资产ATECFUN
| Q1 26 | — | $7.7B | ||
| Q4 25 | $791.2M | $7.8B | ||
| Q3 25 | $787.2M | $7.9B | ||
| Q2 25 | $790.3M | $9.5B | ||
| Q1 25 | $785.5M | $9.2B | ||
| Q4 24 | $775.7M | — | ||
| Q3 24 | $745.9M | $9.4B | ||
| Q2 24 | $768.6M | $2.3B |
负债/权益比ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | 45.54× | 9.40× | ||
| Q3 25 | 48.64× | 8.16× | ||
| Q2 25 | 23.30× | 2.97× | ||
| Q1 25 | — | 2.75× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.95× | ||
| Q2 24 | 30.34× | — |
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 | $20.7M | — |
| 自由现金流经营现金流 - 资本支出 | $7.7M | — |
| 自由现金流率自由现金流/营收 | 3.6% | — |
| 资本支出强度资本支出/营收 | 6.1% | — |
| 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 | $2.8M | — |
8季度趋势，按日历期对齐
经营现金流ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | $20.7M | $-37.7M | ||
| Q3 25 | $14.0M | $356.2M | ||
| Q2 25 | $15.5M | $187.0M | ||
| Q1 25 | $-5.0M | $-178.0M | ||
| Q4 24 | $10.5M | — | ||
| Q3 24 | $-5.3M | $337.4M | ||
| Q2 24 | $-11.4M | — |
自由现金流ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | $7.7M | $-109.3M | ||
| Q3 25 | $4.8M | $256.2M | ||
| Q2 25 | $5.2M | $18.8M | ||
| Q1 25 | $-15.0M | $-318.0M | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $-21.2M | $227.7M | ||
| Q2 24 | $-45.5M | — |
自由现金流率ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | 3.6% | -16.8% | ||
| Q3 25 | 2.4% | 19.4% | ||
| Q2 25 | 2.8% | 2.0% | ||
| Q1 25 | -8.9% | -157.4% | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | -14.1% | 16.9% | ||
| Q2 24 | -31.3% | — |
资本支出强度ATECFUN
| Q1 26 | — | — | ||
| Q4 25 | 6.1% | 11.0% | ||
| Q3 25 | 4.7% | 7.6% | ||
| Q2 25 | 5.6% | 18.1% | ||
| Q1 25 | 5.9% | 69.3% | ||
| Q4 24 | 1.1% | — | ||
| Q3 24 | 10.5% | 8.1% | ||
| Q2 24 | 23.4% | — |
现金转化率ATECFUN
| 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
ATEC
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% |
