vs
Empire State Realty OP, L.P.（ESBA）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Empire State Realty OP, L.P.的1.1倍（$225.6M vs $199.2M），Empire State Realty OP, L.P.净利率更高（16.1% vs -119.0%，领先135.2%），六旗同比增速更快（11.7% vs 0.8%）
Empire State Realty OP, L.P. 是一家房地产运营合伙企业，核心业务为持有、管理及出租优质商业与零售物业，主要布局纽约大都会区，旗下拥有帝国大厦等标志性地标，服务企业租户、零售品牌及旅游相关业务板块。
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。
ESBA vs FUN — 直观对比
营收规模更大
FUN
是对方的1.1倍
$199.2M
营收增速更快
FUN
高出10.8%
0.8%
净利率更高
ESBA
高出135.2%
-119.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.2M | $225.6M |
| 净利润 | $32.2M | $-268.6M |
| 毛利率 | — | — |
| 营业利润率 | 17.8% | — |
| 净利率 | 16.1% | -119.0% |
| 营收同比 | 0.8% | 11.7% |
| 净利润同比 | 71.2% | -22.2% |
| 每股收益（稀释后） | $0.11 | — |
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ESBAFUN
| Q1 26 | — | $225.6M | ||
| Q4 25 | $199.2M | $650.1M | ||
| Q3 25 | $197.7M | $1.3B | ||
| Q2 25 | $191.3M | $930.4M | ||
| Q1 25 | $180.1M | $202.1M | ||
| Q4 24 | $197.6M | — | ||
| Q3 24 | $199.6M | $1.3B | ||
| Q2 24 | $189.5M | $571.6M |
净利润ESBAFUN
| Q1 26 | — | $-268.6M | ||
| Q4 25 | $32.2M | $-92.4M | ||
| Q3 25 | $13.6M | $-1.2B | ||
| Q2 25 | $11.4M | $-99.6M | ||
| Q1 25 | $15.8M | $-219.7M | ||
| Q4 24 | $18.8M | — | ||
| Q3 24 | $22.8M | $111.0M | ||
| Q2 24 | $28.6M | $55.6M |
毛利率ESBAFUN
| 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ESBAFUN
| Q1 26 | — | — | ||
| Q4 25 | 17.8% | -3.8% | ||
| Q3 25 | 19.9% | -83.7% | ||
| Q2 25 | 18.4% | 8.0% | ||
| Q1 25 | 14.3% | -158.9% | ||
| Q4 24 | 21.7% | — | ||
| Q3 24 | 22.7% | 19.5% | ||
| Q2 24 | 20.8% | 21.6% |
净利率ESBAFUN
| Q1 26 | — | -119.0% | ||
| Q4 25 | 16.1% | -14.2% | ||
| Q3 25 | 6.9% | -90.1% | ||
| Q2 25 | 6.0% | -10.7% | ||
| Q1 25 | 8.8% | -108.7% | ||
| Q4 24 | 9.5% | — | ||
| Q3 24 | 11.4% | 8.2% | ||
| Q2 24 | 15.1% | 9.7% |
每股收益（稀释后）ESBAFUN
| Q1 26 | — | — | ||
| Q4 25 | $0.11 | $-0.93 | ||
| Q3 25 | $0.05 | $-11.77 | ||
| Q2 25 | $0.04 | $-0.99 | ||
| Q1 25 | $0.05 | $-2.20 | ||
| Q4 24 | $0.07 | — | ||
| Q3 24 | $0.08 | $1.10 | ||
| Q2 24 | $0.10 | — |
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 | $132.7M | $116.5M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | — | $279.2M |
| 总资产 | $4.5B | $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ESBAFUN
| Q1 26 | — | $116.5M | ||
| Q4 25 | $132.7M | $91.1M | ||
| Q3 25 | $154.1M | $70.7M | ||
| Q2 25 | $94.6M | $107.4M | ||
| Q1 25 | $187.8M | $61.5M | ||
| Q4 24 | $385.5M | — | ||
| Q3 24 | $421.9M | $89.7M | ||
| Q2 24 | $535.5M | $52.9M |
总债务ESBAFUN
| 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ESBAFUN
| Q1 26 | — | $279.2M | ||
| Q4 25 | — | $549.8M | ||
| Q3 25 | — | $614.3M | ||
| Q2 25 | — | $1.8B | ||
| Q1 25 | — | $1.8B | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | — |
总资产ESBAFUN
| Q1 26 | — | $7.7B | ||
| Q4 25 | $4.5B | $7.8B | ||
| Q3 25 | $4.1B | $7.9B | ||
| Q2 25 | $4.1B | $9.5B | ||
| Q1 25 | $4.1B | $9.2B | ||
| Q4 24 | $4.5B | — | ||
| Q3 24 | $4.4B | $9.4B | ||
| Q2 24 | $4.4B | $2.3B |
负债/权益比ESBAFUN
| 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 | $249.1M | — |
| 自由现金流经营现金流 - 资本支出 | $50.6M | — |
| 自由现金流率自由现金流/营收 | 25.4% | — |
| 资本支出强度资本支出/营收 | 99.6% | — |
| 现金转化率经营现金流/净利润 | 7.74× | — |
| 过去12个月自由现金流最近4个季度 | $109.3M | — |
8季度趋势，按日历期对齐
经营现金流ESBAFUN
| Q1 26 | — | — | ||
| Q4 25 | $249.1M | $-37.7M | ||
| Q3 25 | $105.3M | $356.2M | ||
| Q2 25 | $26.7M | $187.0M | ||
| Q1 25 | $83.1M | $-178.0M | ||
| Q4 24 | $260.9M | — | ||
| Q3 24 | $102.8M | $337.4M | ||
| Q2 24 | $37.1M | — |
自由现金流ESBAFUN
| Q1 26 | — | — | ||
| Q4 25 | $50.6M | $-109.3M | ||
| Q3 25 | $72.8M | $256.2M | ||
| Q2 25 | $-55.1M | $18.8M | ||
| Q1 25 | $41.1M | $-318.0M | ||
| Q4 24 | $88.0M | — | ||
| Q3 24 | $-65.1M | $227.7M | ||
| Q2 24 | $19.5M | — |
自由现金流率ESBAFUN
| Q1 26 | — | — | ||
| Q4 25 | 25.4% | -16.8% | ||
| Q3 25 | 36.8% | 19.4% | ||
| Q2 25 | -28.8% | 2.0% | ||
| Q1 25 | 22.8% | -157.4% | ||
| Q4 24 | 44.5% | — | ||
| Q3 24 | -32.6% | 16.9% | ||
| Q2 24 | 10.3% | — |
资本支出强度ESBAFUN
| Q1 26 | — | — | ||
| Q4 25 | 99.6% | 11.0% | ||
| Q3 25 | 16.5% | 7.6% | ||
| Q2 25 | 42.8% | 18.1% | ||
| Q1 25 | 23.4% | 69.3% | ||
| Q4 24 | 87.5% | — | ||
| Q3 24 | 84.1% | 8.1% | ||
| Q2 24 | 9.3% | — |
现金转化率ESBAFUN
| Q1 26 | — | — | ||
| Q4 25 | 7.74× | — | ||
| Q3 25 | 7.72× | — | ||
| Q2 25 | 2.35× | — | ||
| Q1 25 | 5.27× | — | ||
| Q4 24 | 13.88× | — | ||
| Q3 24 | 4.51× | 3.04× | ||
| Q2 24 | 1.30× | — |
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
ESBA
| Real Estate Segment | $163.8M | 82% |
| Observatory Segment | $35.2M | 18% |
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
