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Coursera, Inc.（COUR）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Coursera, Inc.的1.1倍（$225.6M vs $196.9M），Coursera, Inc.净利率更高（-13.6% vs -119.0%，领先105.4%），六旗同比增速更快（11.7% vs 9.9%）
Coursera Inc.是美国营利性在线教育平台，由斯坦福大学计算机科学教授吴恩达与达芙妮·科勒于2012年创立。创立初期它作为全球大型开放式网络课程平台运营，目前和全球多所大学及各类机构合作，提供涵盖多个学科领域的在线课程、证书与学位项目。
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。
COUR vs FUN — 直观对比
营收规模更大
FUN
是对方的1.1倍
$196.9M
营收增速更快
FUN
高出1.8%
9.9%
净利率更高
COUR
高出105.4%
-119.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $196.9M | $225.6M |
| 净利润 | $-26.8M | $-268.6M |
| 毛利率 | 54.2% | — |
| 营业利润率 | -16.4% | — |
| 净利率 | -13.6% | -119.0% |
| 营收同比 | 9.9% | 11.7% |
| 净利润同比 | -24.1% | -22.2% |
| 每股收益（稀释后） | $-0.16 | — |
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COURFUN
| Q1 26 | — | $225.6M | ||
| Q4 25 | $196.9M | $650.1M | ||
| Q3 25 | $194.2M | $1.3B | ||
| Q2 25 | $187.1M | $930.4M | ||
| Q1 25 | $179.3M | $202.1M | ||
| Q4 24 | $179.2M | — | ||
| Q3 24 | $176.1M | $1.3B | ||
| Q2 24 | $170.3M | $571.6M |
净利润COURFUN
| Q1 26 | — | $-268.6M | ||
| Q4 25 | $-26.8M | $-92.4M | ||
| Q3 25 | $-8.6M | $-1.2B | ||
| Q2 25 | $-7.8M | $-99.6M | ||
| Q1 25 | $-7.8M | $-219.7M | ||
| Q4 24 | $-21.6M | — | ||
| Q3 24 | $-13.7M | $111.0M | ||
| Q2 24 | $-22.9M | $55.6M |
毛利率COURFUN
| Q1 26 | — | — | ||
| Q4 25 | 54.2% | 91.4% | ||
| Q3 25 | 54.6% | 91.6% | ||
| Q2 25 | 54.9% | 91.3% | ||
| Q1 25 | 54.6% | 89.3% | ||
| Q4 24 | 53.3% | — | ||
| Q3 24 | 54.6% | 91.9% | ||
| Q2 24 | 53.0% | 90.7% |
营业利润率COURFUN
| Q1 26 | — | — | ||
| Q4 25 | -16.4% | -3.8% | ||
| Q3 25 | -8.0% | -83.7% | ||
| Q2 25 | -8.1% | 8.0% | ||
| Q1 25 | -8.0% | -158.9% | ||
| Q4 24 | -17.0% | — | ||
| Q3 24 | -12.3% | 19.5% | ||
| Q2 24 | -18.3% | 21.6% |
净利率COURFUN
| Q1 26 | — | -119.0% | ||
| Q4 25 | -13.6% | -14.2% | ||
| Q3 25 | -4.4% | -90.1% | ||
| Q2 25 | -4.2% | -10.7% | ||
| Q1 25 | -4.4% | -108.7% | ||
| Q4 24 | -12.1% | — | ||
| Q3 24 | -7.8% | 8.2% | ||
| Q2 24 | -13.4% | 9.7% |
每股收益（稀释后）COURFUN
| Q1 26 | — | — | ||
| Q4 25 | $-0.16 | $-0.93 | ||
| Q3 25 | $-0.05 | $-11.77 | ||
| Q2 25 | $-0.05 | $-0.99 | ||
| Q1 25 | $-0.05 | $-2.20 | ||
| Q4 24 | $-0.13 | — | ||
| Q3 24 | $-0.09 | $1.10 | ||
| Q2 24 | $-0.15 | — |
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 | $792.6M | $116.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $635.7M | $279.2M |
| 总资产 | $1.0B | $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COURFUN
| Q1 26 | — | $116.5M | ||
| Q4 25 | $792.6M | $91.1M | ||
| Q3 25 | $797.7M | $70.7M | ||
| Q2 25 | $775.1M | $107.4M | ||
| Q1 25 | $748.0M | $61.5M | ||
| Q4 24 | $726.1M | — | ||
| Q3 24 | $719.4M | $89.7M | ||
| Q2 24 | $708.8M | $52.9M |
总债务COURFUN
| 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COURFUN
| Q1 26 | — | $279.2M | ||
| Q4 25 | $635.7M | $549.8M | ||
| Q3 25 | $639.5M | $614.3M | ||
| Q2 25 | $627.0M | $1.8B | ||
| Q1 25 | $610.5M | $1.8B | ||
| Q4 24 | $597.4M | — | ||
| Q3 24 | $593.3M | $2.3B | ||
| Q2 24 | $585.2M | — |
总资产COURFUN
| Q1 26 | — | $7.7B | ||
| Q4 25 | $1.0B | $7.8B | ||
| Q3 25 | $995.3M | $7.9B | ||
| Q2 25 | $979.9M | $9.5B | ||
| Q1 25 | $951.2M | $9.2B | ||
| Q4 24 | $930.3M | — | ||
| Q3 24 | $914.1M | $9.4B | ||
| Q2 24 | $904.4M | $2.3B |
负债/权益比COURFUN
| 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 | $5.8M | — |
| 自由现金流经营现金流 - 资本支出 | $5.4M | — |
| 自由现金流率自由现金流/营收 | 2.7% | — |
| 资本支出强度资本支出/营收 | 0.2% | — |
| 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 | $107.2M | — |
8季度趋势，按日历期对齐
经营现金流COURFUN
| Q1 26 | — | — | ||
| Q4 25 | $5.8M | $-37.7M | ||
| Q3 25 | $33.9M | $356.2M | ||
| Q2 25 | $35.5M | $187.0M | ||
| Q1 25 | $33.5M | $-178.0M | ||
| Q4 24 | $19.2M | — | ||
| Q3 24 | $27.9M | $337.4M | ||
| Q2 24 | $23.8M | — |
自由现金流COURFUN
| Q1 26 | — | — | ||
| Q4 25 | $5.4M | $-109.3M | ||
| Q3 25 | $33.7M | $256.2M | ||
| Q2 25 | $35.1M | $18.8M | ||
| Q1 25 | $33.0M | $-318.0M | ||
| Q4 24 | $18.1M | — | ||
| Q3 24 | $27.7M | $227.7M | ||
| Q2 24 | $23.6M | — |
自由现金流率COURFUN
| Q1 26 | — | — | ||
| Q4 25 | 2.7% | -16.8% | ||
| Q3 25 | 17.4% | 19.4% | ||
| Q2 25 | 18.8% | 2.0% | ||
| Q1 25 | 18.4% | -157.4% | ||
| Q4 24 | 10.1% | — | ||
| Q3 24 | 15.7% | 16.9% | ||
| Q2 24 | 13.9% | — |
资本支出强度COURFUN
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 11.0% | ||
| Q3 25 | 0.1% | 7.6% | ||
| Q2 25 | 0.2% | 18.1% | ||
| Q1 25 | 0.3% | 69.3% | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 0.1% | 8.1% | ||
| Q2 24 | 0.1% | — |
现金转化率COURFUN
| 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
COUR
| Consumer Segment | $131.5M | 67% |
| Enterprise Segment | $65.4M | 33% |
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
