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六旗（FUN）与哈雷戴维森（HOG）财务数据对比。点击上方公司名可切换其他公司
哈雷戴维森的季度营收约是六旗的1.7倍（$390.5M vs $225.6M），哈雷戴维森净利率更高（-72.3% vs -119.0%，领先46.7%），六旗同比增速更快（11.7% vs -9.4%）
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。
哈雷戴维森是源自美国的摩托车制造商与生活方式品牌，总部位于威斯康星州密尔沃基，创立于1903年。它是大萧条时期幸存下来的两大美国摩托车厂商之一，历经多次股权变动、子公司调整、经营困境与全球竞争，如今已是全球知名的标志性品牌。
FUN vs HOG — 直观对比
营收规模更大
HOG
是对方的1.7倍
$225.6M
营收增速更快
FUN
高出21.0%
-9.4%
净利率更高
HOG
高出46.7%
-119.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $390.5M |
| 净利润 | $-268.6M | $-282.6M |
| 毛利率 | — | -7.9% |
| 营业利润率 | — | -92.4% |
| 净利率 | -119.0% | -72.3% |
| 营收同比 | 11.7% | -9.4% |
| 净利润同比 | -22.2% | -138.6% |
| 每股收益（稀释后） | — | $-2.27 |
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FUNHOG
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $390.5M | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $930.4M | $1.0B | ||
| Q1 25 | $202.1M | $1.1B | ||
| Q4 24 | — | $430.9M | ||
| Q3 24 | $1.3B | $881.2M | ||
| Q2 24 | $571.6M | $1.4B |
净利润FUNHOG
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $-282.6M | ||
| Q3 25 | $-1.2B | $377.4M | ||
| Q2 25 | $-99.6M | $107.6M | ||
| Q1 25 | $-219.7M | $133.1M | ||
| Q4 24 | — | $-118.4M | ||
| Q3 24 | $111.0M | $119.0M | ||
| Q2 24 | $55.6M | $218.3M |
毛利率FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | -7.9% | ||
| Q3 25 | 91.6% | 26.0% | ||
| Q2 25 | 91.3% | 28.5% | ||
| Q1 25 | 89.3% | 28.9% | ||
| Q4 24 | — | -2.0% | ||
| Q3 24 | 91.9% | 29.8% | ||
| Q2 24 | 90.7% | 31.8% |
营业利润率FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | -92.4% | ||
| Q3 25 | -83.7% | 44.0% | ||
| Q2 25 | 8.0% | 10.7% | ||
| Q1 25 | -158.9% | 14.8% | ||
| Q4 24 | — | -44.9% | ||
| Q3 24 | 19.5% | 12.0% | ||
| Q2 24 | 21.6% | 17.8% |
净利率FUNHOG
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | -72.3% | ||
| Q3 25 | -90.1% | 35.0% | ||
| Q2 25 | -10.7% | 10.2% | ||
| Q1 25 | -108.7% | 12.3% | ||
| Q4 24 | — | -27.5% | ||
| Q3 24 | 8.2% | 13.5% | ||
| Q2 24 | 9.7% | 16.1% |
每股收益（稀释后）FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $-2.27 | ||
| Q3 25 | $-11.77 | $3.10 | ||
| Q2 25 | $-0.99 | $0.88 | ||
| Q1 25 | $-2.20 | $1.07 | ||
| Q4 24 | — | $-0.82 | ||
| Q3 24 | $1.10 | $0.91 | ||
| Q2 24 | — | $1.63 |
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 | $116.5M | $3.1B |
| 总债务越低越好 | — | $2.5B |
| 股东权益账面价值 | $279.2M | $3.1B |
| 总资产 | $7.7B | $8.0B |
| 负债/权益比越低杠杆越低 | — | 0.79× |
8季度趋势，按日历期对齐
现金及短期投资FUNHOG
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | $3.1B | ||
| Q3 25 | $70.7M | $1.8B | ||
| Q2 25 | $107.4M | $1.6B | ||
| Q1 25 | $61.5M | $1.9B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $89.7M | $2.2B | ||
| Q2 24 | $52.9M | $1.8B |
总债务FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | $2.5B | ||
| Q3 25 | $5.0B | $4.5B | ||
| Q2 25 | $5.3B | $6.4B | ||
| Q1 25 | $5.0B | $6.8B | ||
| Q4 24 | — | $6.3B | ||
| Q3 24 | $4.6B | $7.3B | ||
| Q2 24 | $2.3B | $7.0B |
股东权益FUNHOG
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $3.1B | ||
| Q3 25 | $614.3M | $3.6B | ||
| Q2 25 | $1.8B | $3.3B | ||
| Q1 25 | $1.8B | $3.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | $2.3B | $3.4B | ||
| Q2 24 | — | $3.4B |
总资产FUNHOG
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $8.0B | ||
| Q3 25 | $7.9B | $10.6B | ||
| Q2 25 | $9.5B | $12.1B | ||
| Q1 25 | $9.2B | $12.4B | ||
| Q4 24 | — | $11.9B | ||
| Q3 24 | $9.4B | $13.0B | ||
| Q2 24 | $2.3B | $12.8B |
负债/权益比FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | 0.79× | ||
| Q3 25 | 8.16× | 1.25× | ||
| Q2 25 | 2.97× | 1.91× | ||
| Q1 25 | 2.75× | 2.14× | ||
| Q4 24 | — | 2.00× | ||
| Q3 24 | 1.95× | 2.13× | ||
| Q2 24 | — | 2.03× |
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 | — | $152.0M |
| 自由现金流经营现金流 - 资本支出 | — | $100.4M |
| 自由现金流率自由现金流/营收 | — | 25.7% |
| 资本支出强度资本支出/营收 | — | 13.2% |
| 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 | — | $415.2M |
8季度趋势，按日历期对齐
经营现金流FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $152.0M | ||
| Q3 25 | $356.2M | $-92.6M | ||
| Q2 25 | $187.0M | $368.0M | ||
| Q1 25 | $-178.0M | $141.5M | ||
| Q4 24 | — | $133.2M | ||
| Q3 24 | $337.4M | $353.0M | ||
| Q2 24 | — | $473.6M |
自由现金流FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $100.4M | ||
| Q3 25 | $256.2M | $-129.1M | ||
| Q2 25 | $18.8M | $332.4M | ||
| Q1 25 | $-318.0M | $111.6M | ||
| Q4 24 | — | $77.0M | ||
| Q3 24 | $227.7M | $300.4M | ||
| Q2 24 | — | $432.2M |
自由现金流率FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | 25.7% | ||
| Q3 25 | 19.4% | -12.0% | ||
| Q2 25 | 2.0% | 31.7% | ||
| Q1 25 | -157.4% | 10.3% | ||
| Q4 24 | — | 17.9% | ||
| Q3 24 | 16.9% | 34.1% | ||
| Q2 24 | — | 31.9% |
资本支出强度FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 13.2% | ||
| Q3 25 | 7.6% | 3.4% | ||
| Q2 25 | 18.1% | 3.4% | ||
| Q1 25 | 69.3% | 2.8% | ||
| Q4 24 | — | 13.0% | ||
| Q3 24 | 8.1% | 6.0% | ||
| Q2 24 | — | 3.1% |
现金转化率FUNHOG
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -0.25× | ||
| Q2 25 | — | 3.42× | ||
| Q1 25 | — | 1.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.04× | 2.97× | ||
| Q2 24 | — | 2.17× |
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
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
HOG
| Motorcycles | $193.9M | 50% |
| Other | $63.8M | 16% |
| Other Income Financial Services | $59.8M | 15% |
| Apparel | $47.2M | 12% |
| Livewire Segment | $11.4M | 3% |
