vs
六旗（FUN）与虎牙（HUYA）财务数据对比。点击上方公司名可切换其他公司
虎牙的季度营收约是六旗的1.1倍（$237.1M vs $225.6M），虎牙净利率更高（0.6% vs -119.0%，领先119.6%）
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。
虎牙公司是中国领先的互动直播平台，核心业务为游戏直播，同时覆盖电竞赛事、娱乐综艺、生活方式、知识科普等多元内容领域，面向国内年轻互联网用户提供高互动性的数字娱乐内容服务。
FUN vs HUYA — 直观对比
营收规模更大
HUYA
是对方的1.1倍
$225.6M
净利率更高
HUYA
高出119.6%
-119.0%
损益表 — Q1 FY2026 vs Q3 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $237.1M |
| 净利润 | $-268.6M | $1.3M |
| 毛利率 | — | 13.4% |
| 营业利润率 | — | -0.8% |
| 净利率 | -119.0% | 0.6% |
| 营收同比 | 11.7% | — |
| 净利润同比 | -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FUNHUYA
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | — | ||
| Q3 25 | $1.3B | $237.1M | ||
| Q2 25 | $930.4M | $218.8M | ||
| Q1 25 | $202.1M | $207.9M | ||
| Q3 24 | $1.3B | $219.1M | ||
| Q2 24 | $571.6M | $212.1M | ||
| Q1 24 | — | $208.3M |
净利润FUNHUYA
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | — | ||
| Q3 25 | $-1.2B | $1.3M | ||
| Q2 25 | $-99.6M | $-766.0K | ||
| Q1 25 | $-219.7M | $128.0K | ||
| Q3 24 | $111.0M | $3.4M | ||
| Q2 24 | $55.6M | $4.1M | ||
| Q1 24 | — | $9.8M |
毛利率FUNHUYA
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | — | ||
| Q3 25 | 91.6% | 13.4% | ||
| Q2 25 | 91.3% | 13.5% | ||
| Q1 25 | 89.3% | 12.5% | ||
| Q3 24 | 91.9% | 13.2% | ||
| Q2 24 | 90.7% | 13.9% | ||
| Q1 24 | — | 14.7% |
营业利润率FUNHUYA
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | — | ||
| Q3 25 | -83.7% | -0.8% | ||
| Q2 25 | 8.0% | -1.5% | ||
| Q1 25 | -158.9% | -4.0% | ||
| Q3 24 | 19.5% | -2.1% | ||
| Q2 24 | 21.6% | -1.7% | ||
| Q1 24 | — | -2.6% |
净利率FUNHUYA
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | — | ||
| Q3 25 | -90.1% | 0.6% | ||
| Q2 25 | -10.7% | -0.4% | ||
| Q1 25 | -108.7% | 0.1% | ||
| Q3 24 | 8.2% | 1.5% | ||
| Q2 24 | 9.7% | 1.9% | ||
| Q1 24 | — | 4.7% |
每股收益（稀释后）FUNHUYA
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | — | ||
| Q3 25 | $-11.77 | — | ||
| Q2 25 | $-0.99 | — | ||
| Q1 25 | $-2.20 | — | ||
| Q3 24 | $1.10 | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $116.5M | $102.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | $709.9M |
| 总资产 | $7.7B | $960.3M |
| 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FUNHUYA
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | — | ||
| Q3 25 | $70.7M | $102.0M | ||
| Q2 25 | $107.4M | $69.7M | ||
| Q1 25 | $61.5M | $40.9M | ||
| Q3 24 | $89.7M | $156.1M | ||
| Q2 24 | $52.9M | $138.4M | ||
| Q1 24 | — | $75.1M |
总债务FUNHUYA
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | — | — |
股东权益FUNHUYA
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | — | ||
| Q3 25 | $614.3M | $709.9M | ||
| Q2 25 | $1.8B | $704.3M | ||
| Q1 25 | $1.8B | $711.2M | ||
| Q3 24 | $2.3B | $1.1B | ||
| Q2 24 | — | $1.3B | ||
| Q1 24 | — | $1.3B |
总资产FUNHUYA
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | — | ||
| Q3 25 | $7.9B | $960.3M | ||
| Q2 25 | $9.5B | $928.0M | ||
| Q1 25 | $9.2B | $1.3B | ||
| Q3 24 | $9.4B | $1.6B | ||
| Q2 24 | $2.3B | $1.6B | ||
| Q1 24 | — | $1.7B |
负债/权益比FUNHUYA
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | — | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q3 24 | 1.95× | — | ||
| Q2 24 | — | — | ||
| Q1 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
FUN
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
HUYA
| Live streaming | $162.5M | 69% |
| Game-related services, advertising and others | $74.7M | 31% |
