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六旗（FUN）与Gaming & Leisure Properties, Inc.（GLPI）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Gaming & Leisure Properties, Inc.的1.5倍（$650.1M vs $420.0M），Gaming & Leisure Properties, Inc.净利率更高（57.0% vs -14.2%，领先71.2%）
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。
博彩与休闲地产公司（GLPI）是一家专注于赌场物业的房地产投资信托（REIT），总部位于宾夕法尼亚州怀奥米辛。公司于2013年11月从宾州国民娱乐分拆成立，目前持有62处赌场物业，全部对外出租给其他企业运营。
FUN vs GLPI — 直观对比
营收规模更大
FUN
是对方的1.5倍
$420.0M
净利率更高
GLPI
高出71.2%
-14.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $420.0M |
| 净利润 | $-92.4M | $239.4M |
| 毛利率 | 91.4% | — |
| 营业利润率 | -3.8% | 79.4% |
| 净利率 | -14.2% | 57.0% |
| 营收同比 | — | 6.3% |
| 净利润同比 | — | 40.5% |
| 每股收益（稀释后） | $-0.93 | — |
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FUNGLPI
| Q1 26 | — | $420.0M | ||
| Q4 25 | $650.1M | $407.0M | ||
| Q3 25 | $1.3B | $397.6M | ||
| Q2 25 | $930.4M | $394.9M | ||
| Q1 25 | $202.1M | $395.2M | ||
| Q4 24 | — | $389.6M | ||
| Q3 24 | $1.3B | $385.3M | ||
| Q2 24 | $571.6M | $380.6M |
净利润FUNGLPI
| Q1 26 | — | $239.4M | ||
| Q4 25 | $-92.4M | $275.4M | ||
| Q3 25 | $-1.2B | $241.2M | ||
| Q2 25 | $-99.6M | $151.4M | ||
| Q1 25 | $-219.7M | $165.2M | ||
| Q4 24 | — | $223.6M | ||
| Q3 24 | $111.0M | $184.7M | ||
| Q2 24 | $55.6M | $208.3M |
毛利率FUNGLPI
| 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FUNGLPI
| Q1 26 | — | 79.4% | ||
| Q4 25 | -3.8% | 89.3% | ||
| Q3 25 | -83.7% | 84.8% | ||
| Q2 25 | 8.0% | 61.3% | ||
| Q1 25 | -158.9% | 65.5% | ||
| Q4 24 | — | 79.1% | ||
| Q3 24 | 19.5% | 70.4% | ||
| Q2 24 | 21.6% | 77.1% |
净利率FUNGLPI
| Q1 26 | — | 57.0% | ||
| Q4 25 | -14.2% | 67.6% | ||
| Q3 25 | -90.1% | 60.7% | ||
| Q2 25 | -10.7% | 38.4% | ||
| Q1 25 | -108.7% | 41.8% | ||
| Q4 24 | — | 57.4% | ||
| Q3 24 | 8.2% | 47.9% | ||
| Q2 24 | 9.7% | 54.7% |
每股收益（稀释后）FUNGLPI
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $0.96 | ||
| Q3 25 | $-11.77 | $0.85 | ||
| Q2 25 | $-0.99 | $0.54 | ||
| Q1 25 | $-2.20 | $0.60 | ||
| Q4 24 | — | $0.79 | ||
| Q3 24 | $1.10 | $0.67 | ||
| Q2 24 | — | $0.77 |
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 | $91.1M | $274.5M |
| 总债务越低越好 | $5.2B | — |
| 股东权益账面价值 | $549.8M | $5.0B |
| 总资产 | $7.8B | $13.8B |
| 负债/权益比越低杠杆越低 | 9.40× | — |
8季度趋势，按日历期对齐
现金及短期投资FUNGLPI
| Q1 26 | — | $274.5M | ||
| Q4 25 | $91.1M | — | ||
| Q3 25 | $70.7M | — | ||
| Q2 25 | $107.4M | — | ||
| Q1 25 | $61.5M | — | ||
| Q4 24 | — | $560.8M | ||
| Q3 24 | $89.7M | $560.8M | ||
| Q2 24 | $52.9M | $560.8M |
总债务FUNGLPI
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | $7.2B | ||
| Q3 25 | $5.0B | $7.2B | ||
| Q2 25 | $5.3B | $6.9B | ||
| Q1 25 | $5.0B | $6.9B | ||
| Q4 24 | — | $7.7B | ||
| Q3 24 | $4.6B | $7.4B | ||
| Q2 24 | $2.3B | $6.6B |
股东权益FUNGLPI
| Q1 26 | — | $5.0B | ||
| Q4 25 | $549.8M | $4.6B | ||
| Q3 25 | $614.3M | $4.6B | ||
| Q2 25 | $1.8B | $4.6B | ||
| Q1 25 | $1.8B | $4.2B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | $2.3B | $4.3B | ||
| Q2 24 | — | $4.1B |
总资产FUNGLPI
| Q1 26 | — | $13.8B | ||
| Q4 25 | $7.8B | $12.9B | ||
| Q3 25 | $7.9B | $12.8B | ||
| Q2 25 | $9.5B | $12.5B | ||
| Q1 25 | $9.2B | $12.1B | ||
| Q4 24 | — | $13.1B | ||
| Q3 24 | $9.4B | $12.7B | ||
| Q2 24 | $2.3B | $11.8B |
负债/权益比FUNGLPI
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | 1.56× | ||
| Q3 25 | 8.16× | 1.57× | ||
| Q2 25 | 2.97× | 1.51× | ||
| Q1 25 | 2.75× | 1.63× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 1.95× | 1.74× | ||
| Q2 24 | — | 1.60× |
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 | $-37.7M | — |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | — |
| 自由现金流率自由现金流/营收 | -16.8% | — |
| 资本支出强度资本支出/营收 | 11.0% | — |
| 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 | $-152.2M | — |
8季度趋势，按日历期对齐
经营现金流FUNGLPI
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $1.1B | ||
| Q3 25 | $356.2M | $240.3M | ||
| Q2 25 | $187.0M | $293.4M | ||
| Q1 25 | $-178.0M | $252.5M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $337.4M | $270.4M | ||
| Q2 24 | — | $252.1M |
自由现金流FUNGLPI
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | — | ||
| Q3 25 | $256.2M | $183.0M | ||
| Q2 25 | $18.8M | $272.3M | ||
| Q1 25 | $-318.0M | $239.6M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $227.7M | $261.5M | ||
| Q2 24 | — | $245.0M |
自由现金流率FUNGLPI
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | — | ||
| Q3 25 | 19.4% | 46.0% | ||
| Q2 25 | 2.0% | 69.0% | ||
| Q1 25 | -157.4% | 60.6% | ||
| Q4 24 | — | 275.3% | ||
| Q3 24 | 16.9% | 67.9% | ||
| Q2 24 | — | 64.4% |
资本支出强度FUNGLPI
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | — | ||
| Q3 25 | 7.6% | 14.4% | ||
| Q2 25 | 18.1% | 5.3% | ||
| Q1 25 | 69.3% | 3.3% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | 8.1% | 2.3% | ||
| Q2 24 | — | 1.9% |
现金转化率FUNGLPI
| Q1 26 | — | — | ||
| Q4 25 | — | 4.10× | ||
| Q3 25 | — | 1.00× | ||
| Q2 25 | — | 1.94× | ||
| Q1 25 | — | 1.53× | ||
| Q4 24 | — | 4.80× | ||
| Q3 24 | 3.04× | 1.46× | ||
| Q2 24 | — | 1.21× |
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
FUN
| Admission | $327.4M | 50% |
| Food Merchandiseand Gaming | $205.7M | 32% |
| Accommodations Extra Charge Products And Other | $117.0M | 18% |
GLPI
暂无分部数据
