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Shift4 Payments, Inc.（FOUR）与六旗（FUN）财务数据对比。点击上方公司名可切换其他公司
Shift4 Payments, Inc.的季度营收约是六旗的5.3倍（$1.2B vs $225.6M），Shift4 Payments, Inc.净利率更高（3.4% vs -119.0%，领先122.4%），Shift4 Payments, Inc.同比增速更快（34.0% vs 11.7%）
Shift4 Payments是美国支付处理服务商，总部位于宾夕法尼亚州阿伦敦，1999年由贾里德·艾萨克曼创立。公司为零售、酒店、休闲、餐饮等行业超20万家商户提供支付处理服务，主营移动支付软硬件等商业技术，2020年于纽约证券交易所挂牌上市。
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。
FOUR vs FUN — 直观对比
营收规模更大
FOUR
是对方的5.3倍
$225.6M
营收增速更快
FOUR
高出22.3%
11.7%
净利率更高
FOUR
高出122.4%
-119.0%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $1.2B | $225.6M |
| 净利润 | $40.2M | $-268.6M |
| 毛利率 | — | — |
| 营业利润率 | 10.8% | — |
| 净利率 | 3.4% | -119.0% |
| 营收同比 | 34.0% | 11.7% |
| 净利润同比 | -65.3% | -22.2% |
| 每股收益（稀释后） | — | — |
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FOURFUN
| Q1 26 | — | $225.6M | ||
| Q4 25 | $1.2B | $650.1M | ||
| Q3 25 | $1.2B | $1.3B | ||
| Q2 25 | $966.2M | $930.4M | ||
| Q1 25 | $848.3M | $202.1M | ||
| Q4 24 | $887.0M | — | ||
| Q3 24 | $909.2M | $1.3B | ||
| Q2 24 | $827.0M | $571.6M |
净利润FOURFUN
| Q1 26 | — | $-268.6M | ||
| Q4 25 | $40.2M | $-92.4M | ||
| Q3 25 | $28.1M | $-1.2B | ||
| Q2 25 | $34.0M | $-99.6M | ||
| Q1 25 | $16.7M | $-219.7M | ||
| Q4 24 | $116.0M | — | ||
| Q3 24 | $53.8M | $111.0M | ||
| Q2 24 | $39.2M | $55.6M |
毛利率FOURFUN
| 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FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | 10.8% | -3.8% | ||
| Q3 25 | 9.7% | -83.7% | ||
| Q2 25 | 8.6% | 8.0% | ||
| Q1 25 | 3.0% | -158.9% | ||
| Q4 24 | 9.7% | — | ||
| Q3 24 | 8.8% | 19.5% | ||
| Q2 24 | 7.2% | 21.6% |
净利率FOURFUN
| Q1 26 | — | -119.0% | ||
| Q4 25 | 3.4% | -14.2% | ||
| Q3 25 | 2.4% | -90.1% | ||
| Q2 25 | 3.5% | -10.7% | ||
| Q1 25 | 2.0% | -108.7% | ||
| Q4 24 | 13.1% | — | ||
| Q3 24 | 5.9% | 8.2% | ||
| Q2 24 | 4.7% | 9.7% |
每股收益（稀释后）FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | — | $-0.93 | ||
| Q3 25 | — | $-11.77 | ||
| Q2 25 | — | $-0.99 | ||
| Q1 25 | — | $-2.20 | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $1.10 | ||
| Q2 24 | — | — |
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 | $964.0M | $116.5M |
| 总债务越低越好 | $4.5B | — |
| 股东权益账面价值 | $1.4B | $279.2M |
| 总资产 | $8.7B | $7.7B |
| 负债/权益比越低杠杆越低 | 3.15× | — |
8季度趋势，按日历期对齐
现金及短期投资FOURFUN
| Q1 26 | — | $116.5M | ||
| Q4 25 | $964.0M | $91.1M | ||
| Q3 25 | $1.5B | $70.7M | ||
| Q2 25 | $3.0B | $107.4M | ||
| Q1 25 | $1.2B | $61.5M | ||
| Q4 24 | $1.2B | — | ||
| Q3 24 | $1.4B | $89.7M | ||
| Q2 24 | $205.0M | $52.9M |
总债务FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | $4.5B | $5.2B | ||
| Q3 25 | $4.7B | $5.0B | ||
| Q2 25 | $3.7B | $5.3B | ||
| Q1 25 | $2.8B | $5.0B | ||
| Q4 24 | $2.8B | — | ||
| Q3 24 | — | $4.6B | ||
| Q2 24 | — | $2.3B |
股东权益FOURFUN
| Q1 26 | — | $279.2M | ||
| Q4 25 | $1.4B | $549.8M | ||
| Q3 25 | $1.7B | $614.3M | ||
| Q2 25 | $1.6B | $1.8B | ||
| Q1 25 | $805.2M | $1.8B | ||
| Q4 24 | $806.6M | — | ||
| Q3 24 | $811.8M | $2.3B | ||
| Q2 24 | $700.8M | — |
总资产FOURFUN
| Q1 26 | — | $7.7B | ||
| Q4 25 | $8.7B | $7.8B | ||
| Q3 25 | $9.0B | $7.9B | ||
| Q2 25 | $7.0B | $9.5B | ||
| Q1 25 | $5.0B | $9.2B | ||
| Q4 24 | $5.0B | — | ||
| Q3 24 | $5.0B | $9.4B | ||
| Q2 24 | $3.5B | $2.3B |
负债/权益比FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | 3.15× | 9.40× | ||
| Q3 25 | 2.83× | 8.16× | ||
| Q2 25 | 2.34× | 2.97× | ||
| Q1 25 | 3.53× | 2.75× | ||
| Q4 24 | 3.52× | — | ||
| 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 | $223.7M | — |
| 自由现金流经营现金流 - 资本支出 | $222.5M | — |
| 自由现金流率自由现金流/营收 | 18.7% | — |
| 资本支出强度资本支出/营收 | 0.1% | — |
| 现金转化率经营现金流/净利润 | 5.56× | — |
| 过去12个月自由现金流最近4个季度 | $624.0M | — |
8季度趋势，按日历期对齐
经营现金流FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | $223.7M | $-37.7M | ||
| Q3 25 | $171.8M | $356.2M | ||
| Q2 25 | $141.9M | $187.0M | ||
| Q1 25 | $96.6M | $-178.0M | ||
| Q4 24 | $145.4M | — | ||
| Q3 24 | $182.1M | $337.4M | ||
| Q2 24 | $116.1M | — |
自由现金流FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | $222.5M | $-109.3M | ||
| Q3 25 | $165.4M | $256.2M | ||
| Q2 25 | $141.0M | $18.8M | ||
| Q1 25 | $95.1M | $-318.0M | ||
| Q4 24 | $143.8M | — | ||
| Q3 24 | $180.1M | $227.7M | ||
| Q2 24 | $113.9M | — |
自由现金流率FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | 18.7% | -16.8% | ||
| Q3 25 | 14.1% | 19.4% | ||
| Q2 25 | 14.6% | 2.0% | ||
| Q1 25 | 11.2% | -157.4% | ||
| Q4 24 | 16.2% | — | ||
| Q3 24 | 19.8% | 16.9% | ||
| Q2 24 | 13.8% | — |
资本支出强度FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 11.0% | ||
| Q3 25 | 0.5% | 7.6% | ||
| Q2 25 | 0.1% | 18.1% | ||
| Q1 25 | 0.2% | 69.3% | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.2% | 8.1% | ||
| Q2 24 | 0.3% | — |
现金转化率FOURFUN
| Q1 26 | — | — | ||
| Q4 25 | 5.56× | — | ||
| Q3 25 | 6.11× | — | ||
| Q2 25 | 4.17× | — | ||
| Q1 25 | 5.78× | — | ||
| Q4 24 | 1.25× | — | ||
| Q3 24 | 3.38× | 3.04× | ||
| Q2 24 | 2.96× | — |
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
FOUR
| Payments Based Revenue | $788.8M | 66% |
| Other | $255.0M | 21% |
| Subscription And Other Revenues | $144.8M | 12% |
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
