vs
六旗（FUN）与INTERPARFUMS INC（IPAR）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INTERPARFUMS INC的1.7倍（$650.1M vs $386.2M），INTERPARFUMS INC净利率更高（7.3% vs -14.2%，领先21.5%），INTERPARFUMS INC自由现金流更多（$145.0M vs $-109.3M）
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。
Inter Parfums Inc是全球知名的高端香水企业，开发、生产并销售多款授权香水、身体护理及相关美妆产品，与多家顶级奢侈时尚生活方式品牌合作推出联名香氛系列，产品覆盖全球主要市场，通过百货、美妆专营店及官方电商渠道触达消费者。
FUN vs IPAR — 直观对比
营收规模更大
FUN
是对方的1.7倍
$386.2M
净利率更高
IPAR
高出21.5%
-14.2%
自由现金流更多
IPAR
多$254.2M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $386.2M |
| 净利润 | $-92.4M | $28.1M |
| 毛利率 | 91.4% | 61.5% |
| 营业利润率 | -3.8% | 7.1% |
| 净利率 | -14.2% | 7.3% |
| 营收同比 | — | 6.8% |
| 净利润同比 | — | 16.0% |
| 每股收益（稀释后） | $-0.93 | $0.88 |
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FUNIPAR
| Q4 25 | $650.1M | $386.2M | ||
| Q3 25 | $1.3B | $429.6M | ||
| Q2 25 | $930.4M | $333.9M | ||
| Q1 25 | $202.1M | $338.8M | ||
| Q4 24 | — | $361.5M | ||
| Q3 24 | $1.3B | $424.6M | ||
| Q2 24 | $571.6M | $342.2M | ||
| Q1 24 | — | $324.0M |
净利润FUNIPAR
| Q4 25 | $-92.4M | $28.1M | ||
| Q3 25 | $-1.2B | $65.8M | ||
| Q2 25 | $-99.6M | $32.0M | ||
| Q1 25 | $-219.7M | $42.5M | ||
| Q4 24 | — | $24.2M | ||
| Q3 24 | $111.0M | $62.3M | ||
| Q2 24 | $55.6M | $36.8M | ||
| Q1 24 | — | $41.0M |
毛利率FUNIPAR
| Q4 25 | 91.4% | 61.5% | ||
| Q3 25 | 91.6% | 63.5% | ||
| Q2 25 | 91.3% | 66.2% | ||
| Q1 25 | 89.3% | 63.7% | ||
| Q4 24 | — | 64.5% | ||
| Q3 24 | 91.9% | 63.9% | ||
| Q2 24 | 90.7% | 64.5% | ||
| Q1 24 | — | 62.5% |
营业利润率FUNIPAR
| Q4 25 | -3.8% | 7.1% | ||
| Q3 25 | -83.7% | 25.3% | ||
| Q2 25 | 8.0% | 17.7% | ||
| Q1 25 | -158.9% | 22.2% | ||
| Q4 24 | — | 10.0% | ||
| Q3 24 | 19.5% | 25.0% | ||
| Q2 24 | 21.6% | 18.9% | ||
| Q1 24 | — | 21.0% |
净利率FUNIPAR
| Q4 25 | -14.2% | 7.3% | ||
| Q3 25 | -90.1% | 15.3% | ||
| Q2 25 | -10.7% | 9.6% | ||
| Q1 25 | -108.7% | 12.5% | ||
| Q4 24 | — | 6.7% | ||
| Q3 24 | 8.2% | 14.7% | ||
| Q2 24 | 9.7% | 10.8% | ||
| Q1 24 | — | 12.7% |
每股收益（稀释后）FUNIPAR
| Q4 25 | $-0.93 | $0.88 | ||
| Q3 25 | $-11.77 | $2.05 | ||
| Q2 25 | $-0.99 | $0.99 | ||
| Q1 25 | $-2.20 | $1.32 | ||
| Q4 24 | — | $0.78 | ||
| Q3 24 | $1.10 | $1.93 | ||
| Q2 24 | — | $1.14 | ||
| Q1 24 | — | $1.27 |
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 | $137.1M |
| 总债务越低越好 | $5.2B | $176.0M |
| 股东权益账面价值 | $549.8M | $880.7M |
| 总资产 | $7.8B | $1.6B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.20× |
8季度趋势，按日历期对齐
现金及短期投资FUNIPAR
| Q4 25 | $91.1M | $137.1M | ||
| Q3 25 | $70.7M | $77.5M | ||
| Q2 25 | $107.4M | $53.9M | ||
| Q1 25 | $61.5M | $75.3M | ||
| Q4 24 | — | $109.3M | ||
| Q3 24 | $89.7M | $78.8M | ||
| Q2 24 | $52.9M | $37.7M | ||
| Q1 24 | — | $76.1M |
总债务FUNIPAR
| Q4 25 | $5.2B | $176.0M | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | $157.3M | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | — | — |
股东权益FUNIPAR
| Q4 25 | $549.8M | $880.7M | ||
| Q3 25 | $614.3M | $870.9M | ||
| Q2 25 | $1.8B | $839.4M | ||
| Q1 25 | $1.8B | $788.6M | ||
| Q4 24 | — | $744.9M | ||
| Q3 24 | $2.3B | $778.5M | ||
| Q2 24 | — | $717.1M | ||
| Q1 24 | — | $708.1M |
总资产FUNIPAR
| Q4 25 | $7.8B | $1.6B | ||
| Q3 25 | $7.9B | $1.6B | ||
| Q2 25 | $9.5B | $1.6B | ||
| Q1 25 | $9.2B | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $9.4B | $1.5B | ||
| Q2 24 | $2.3B | $1.4B | ||
| Q1 24 | — | $1.3B |
负债/权益比FUNIPAR
| Q4 25 | 9.40× | 0.20× | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | 1.95× | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-37.7M | $146.5M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $145.0M |
| 自由现金流率自由现金流/营收 | -16.8% | 37.5% |
| 资本支出强度资本支出/营收 | 11.0% | 0.4% |
| 现金转化率经营现金流/净利润 | — | 5.21× |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $190.5M |
8季度趋势，按日历期对齐
经营现金流FUNIPAR
| Q4 25 | $-37.7M | $146.5M | ||
| Q3 25 | $356.2M | $63.9M | ||
| Q2 25 | $187.0M | $11.9M | ||
| Q1 25 | $-178.0M | $-7.4M | ||
| Q4 24 | — | $138.0M | ||
| Q3 24 | $337.4M | $76.1M | ||
| Q2 24 | — | $25.5M | ||
| Q1 24 | — | $-52.0M |
自由现金流FUNIPAR
| Q4 25 | $-109.3M | $145.0M | ||
| Q3 25 | $256.2M | $57.6M | ||
| Q2 25 | $18.8M | $-3.3M | ||
| Q1 25 | $-318.0M | $-8.8M | ||
| Q4 24 | — | $136.1M | ||
| Q3 24 | $227.7M | $75.4M | ||
| Q2 24 | — | $24.4M | ||
| Q1 24 | — | $-53.0M |
自由现金流率FUNIPAR
| Q4 25 | -16.8% | 37.5% | ||
| Q3 25 | 19.4% | 13.4% | ||
| Q2 25 | 2.0% | -1.0% | ||
| Q1 25 | -157.4% | -2.6% | ||
| Q4 24 | — | 37.7% | ||
| Q3 24 | 16.9% | 17.8% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | -16.4% |
资本支出强度FUNIPAR
| Q4 25 | 11.0% | 0.4% | ||
| Q3 25 | 7.6% | 1.5% | ||
| Q2 25 | 18.1% | 4.5% | ||
| Q1 25 | 69.3% | 0.4% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | 8.1% | 0.2% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.3% |
现金转化率FUNIPAR
| Q4 25 | — | 5.21× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.37× | ||
| Q1 25 | — | -0.17× | ||
| Q4 24 | — | 5.69× | ||
| Q3 24 | 3.04× | 1.22× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | -1.27× |
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% |
IPAR
| European Based Operations | $232.7M | 60% |
| United States Based Operations | $155.2M | 40% |
