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六旗（FUN）与Mativ Holdings, Inc.（MATV）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Mativ Holdings, Inc.的1.4倍（$650.1M vs $463.1M），Mativ Holdings, Inc.净利率更高（21.8% vs -14.2%，领先36.0%），Mativ Holdings, Inc.自由现金流更多（$8.0M 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。
Mativ Holdings是一家全球特种材料制造商，主要生产高性能先进聚合物、无纺布、过滤解决方案及功能性涂层材料，服务医疗、工业、消费品、航空航天、能源等领域，业务遍及北美、欧洲及亚太地区。
FUN vs MATV — 直观对比
营收规模更大
FUN
是对方的1.4倍
$463.1M
净利率更高
MATV
高出36.0%
-14.2%
自由现金流更多
MATV
多$117.3M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $463.1M |
| 净利润 | $-92.4M | $100.8M |
| 毛利率 | 91.4% | 18.8% |
| 营业利润率 | -3.8% | 2.2% |
| 净利率 | -14.2% | 21.8% |
| 营收同比 | — | 1.0% |
| 净利润同比 | — | 6620.0% |
| 每股收益（稀释后） | $-0.93 | $1.87 |
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FUNMATV
| Q4 25 | $650.1M | $463.1M | ||
| Q3 25 | $1.3B | $513.7M | ||
| Q2 25 | $930.4M | $525.4M | ||
| Q1 25 | $202.1M | $484.8M | ||
| Q4 24 | — | $458.6M | ||
| Q3 24 | $1.3B | $498.5M | ||
| Q2 24 | $571.6M | $523.8M | ||
| Q1 24 | — | $500.2M |
净利润FUNMATV
| Q4 25 | $-92.4M | $100.8M | ||
| Q3 25 | $-1.2B | $-3.2M | ||
| Q2 25 | $-99.6M | $-9.5M | ||
| Q1 25 | $-219.7M | $-425.5M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | $111.0M | $-20.8M | ||
| Q2 24 | $55.6M | $-1.4M | ||
| Q1 24 | — | $-28.0M |
毛利率FUNMATV
| Q4 25 | 91.4% | 18.8% | ||
| Q3 25 | 91.6% | 19.3% | ||
| Q2 25 | 91.3% | 19.7% | ||
| Q1 25 | 89.3% | 15.0% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | 91.9% | 18.8% | ||
| Q2 24 | 90.7% | 20.8% | ||
| Q1 24 | — | 16.8% |
营业利润率FUNMATV
| Q4 25 | -3.8% | 2.2% | ||
| Q3 25 | -83.7% | 3.1% | ||
| Q2 25 | 8.0% | 3.8% | ||
| Q1 25 | -158.9% | -88.8% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | 19.5% | 1.4% | ||
| Q2 24 | 21.6% | 2.0% | ||
| Q1 24 | — | -2.8% |
净利率FUNMATV
| Q4 25 | -14.2% | 21.8% | ||
| Q3 25 | -90.1% | -0.6% | ||
| Q2 25 | -10.7% | -1.8% | ||
| Q1 25 | -108.7% | -87.8% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | 8.2% | -4.2% | ||
| Q2 24 | 9.7% | -0.3% | ||
| Q1 24 | — | -5.6% |
每股收益（稀释后）FUNMATV
| Q4 25 | $-0.93 | $1.87 | ||
| Q3 25 | $-11.77 | $-0.06 | ||
| Q2 25 | $-0.99 | $-0.18 | ||
| Q1 25 | $-2.20 | $-7.82 | ||
| Q4 24 | — | $0.03 | ||
| Q3 24 | $1.10 | $-0.38 | ||
| Q2 24 | — | $-0.03 | ||
| Q1 24 | — | $-0.52 |
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 | $84.2M |
| 总债务越低越好 | $5.2B | $1.0B |
| 股东权益账面价值 | $549.8M | $498.7M |
| 总资产 | $7.8B | $2.1B |
| 负债/权益比越低杠杆越低 | 9.40× | 2.07× |
8季度趋势，按日历期对齐
现金及短期投资FUNMATV
| Q4 25 | $91.1M | $84.2M | ||
| Q3 25 | $70.7M | $97.1M | ||
| Q2 25 | $107.4M | $95.6M | ||
| Q1 25 | $61.5M | $84.0M | ||
| Q4 24 | — | $94.3M | ||
| Q3 24 | $89.7M | $162.2M | ||
| Q2 24 | $52.9M | $133.4M | ||
| Q1 24 | — | $128.9M |
总债务FUNMATV
| Q4 25 | $5.2B | $1.0B | ||
| Q3 25 | $5.0B | $1.0B | ||
| Q2 25 | $5.3B | $1.1B | ||
| Q1 25 | $5.0B | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $4.6B | $1.2B | ||
| Q2 24 | $2.3B | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益FUNMATV
| Q4 25 | $549.8M | $498.7M | ||
| Q3 25 | $614.3M | $397.4M | ||
| Q2 25 | $1.8B | $416.6M | ||
| Q1 25 | $1.8B | $428.2M | ||
| Q4 24 | — | $858.5M | ||
| Q3 24 | $2.3B | $882.3M | ||
| Q2 24 | — | $898.0M | ||
| Q1 24 | — | $906.9M |
总资产FUNMATV
| Q4 25 | $7.8B | $2.1B | ||
| Q3 25 | $7.9B | $2.0B | ||
| Q2 25 | $9.5B | $2.1B | ||
| Q1 25 | $9.2B | $2.1B | ||
| Q4 24 | — | $2.4B | ||
| Q3 24 | $9.4B | $2.6B | ||
| Q2 24 | $2.3B | $2.6B | ||
| Q1 24 | — | $2.7B |
负债/权益比FUNMATV
| Q4 25 | 9.40× | 2.07× | ||
| Q3 25 | 8.16× | 2.63× | ||
| Q2 25 | 2.97× | 2.66× | ||
| Q1 25 | 2.75× | 2.67× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | 1.95× | 1.32× | ||
| Q2 24 | — | 1.29× | ||
| Q1 24 | — | 1.30× |
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 | $19.3M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $8.0M |
| 自由现金流率自由现金流/营收 | -16.8% | 1.7% |
| 资本支出强度资本支出/营收 | 11.0% | 2.4% |
| 现金转化率经营现金流/净利润 | — | 0.19× |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $93.8M |
8季度趋势，按日历期对齐
经营现金流FUNMATV
| Q4 25 | $-37.7M | $19.3M | ||
| Q3 25 | $356.2M | $72.8M | ||
| Q2 25 | $187.0M | $57.6M | ||
| Q1 25 | $-178.0M | $-15.9M | ||
| Q4 24 | — | $24.1M | ||
| Q3 24 | $337.4M | $37.6M | ||
| Q2 24 | — | $46.1M | ||
| Q1 24 | — | $-13.0M |
自由现金流FUNMATV
| Q4 25 | $-109.3M | $8.0M | ||
| Q3 25 | $256.2M | $66.7M | ||
| Q2 25 | $18.8M | $48.9M | ||
| Q1 25 | $-318.0M | $-29.8M | ||
| Q4 24 | — | $2.0M | ||
| Q3 24 | $227.7M | $25.5M | ||
| Q2 24 | — | $37.4M | ||
| Q1 24 | — | $-25.1M |
自由现金流率FUNMATV
| Q4 25 | -16.8% | 1.7% | ||
| Q3 25 | 19.4% | 13.0% | ||
| Q2 25 | 2.0% | 9.3% | ||
| Q1 25 | -157.4% | -6.1% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | 16.9% | 5.1% | ||
| Q2 24 | — | 7.1% | ||
| Q1 24 | — | -5.0% |
资本支出强度FUNMATV
| Q4 25 | 11.0% | 2.4% | ||
| Q3 25 | 7.6% | 1.2% | ||
| Q2 25 | 18.1% | 1.7% | ||
| Q1 25 | 69.3% | 2.9% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | 8.1% | 2.4% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.4% |
现金转化率FUNMATV
| Q4 25 | — | 0.19× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 16.07× | ||
| Q3 24 | 3.04× | — | ||
| 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
| Admission | $327.4M | 50% |
| Food Merchandiseand Gaming | $205.7M | 32% |
| Accommodations Extra Charge Products And Other | $117.0M | 18% |
MATV
| Other | $208.7M | 45% |
| SAS Segment | $157.4M | 34% |
| FAM Segment | $97.0M | 21% |
