vs
六旗（FUN）与微芯科技（MCHP）财务数据对比。点击上方公司名可切换其他公司
微芯科技的季度营收约是六旗的1.8倍（$1.2B vs $650.1M），微芯科技净利率更高（5.3% vs -14.2%，领先19.5%），微芯科技自由现金流更多（$318.9M 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。
微芯科技（Microchip Technology）是美国知名上市半导体企业，主营微控制器、混合信号芯片、模拟芯片及闪存知识产权（Flash-IP）相关集成电路的研发、生产与销售，产品覆盖工业控制、汽车电子、消费电子、物联网等众多领域，在全球半导体细分市场拥有领先地位。
FUN vs MCHP — 直观对比
营收规模更大
MCHP
是对方的1.8倍
$650.1M
净利率更高
MCHP
高出19.5%
-14.2%
自由现金流更多
MCHP
多$428.2M
$-109.3M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $1.2B |
| 净利润 | $-92.4M | $62.7M |
| 毛利率 | 91.4% | 59.6% |
| 营业利润率 | -3.8% | 12.8% |
| 净利率 | -14.2% | 5.3% |
| 营收同比 | — | 15.6% |
| 净利润同比 | — | 217.0% |
| 每股收益（稀释后） | $-0.93 | $0.06 |
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FUNMCHP
| Q4 25 | $650.1M | $1.2B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $930.4M | $1.1B | ||
| Q1 25 | $202.1M | $970.5M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $571.6M | $1.2B | ||
| Q1 24 | — | $1.3B |
净利润FUNMCHP
| Q4 25 | $-92.4M | $62.7M | ||
| Q3 25 | $-1.2B | $41.7M | ||
| Q2 25 | $-99.6M | $-18.6M | ||
| Q1 25 | $-219.7M | $-154.6M | ||
| Q4 24 | — | $-53.6M | ||
| Q3 24 | $111.0M | $78.4M | ||
| Q2 24 | $55.6M | $129.3M | ||
| Q1 24 | — | $154.7M |
毛利率FUNMCHP
| Q4 25 | 91.4% | 59.6% | ||
| Q3 25 | 91.6% | 55.9% | ||
| Q2 25 | 91.3% | 53.6% | ||
| Q1 25 | 89.3% | 51.6% | ||
| Q4 24 | — | 54.7% | ||
| Q3 24 | 91.9% | 57.4% | ||
| Q2 24 | 90.7% | 59.4% | ||
| Q1 24 | — | 59.6% |
营业利润率FUNMCHP
| Q4 25 | -3.8% | 12.8% | ||
| Q3 25 | -83.7% | 7.8% | ||
| Q2 25 | 8.0% | 3.0% | ||
| Q1 25 | -158.9% | -10.3% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 19.5% | 12.6% | ||
| Q2 24 | 21.6% | 17.7% | ||
| Q1 24 | — | 19.1% |
净利率FUNMCHP
| Q4 25 | -14.2% | 5.3% | ||
| Q3 25 | -90.1% | 3.7% | ||
| Q2 25 | -10.7% | -1.7% | ||
| Q1 25 | -108.7% | -15.9% | ||
| Q4 24 | — | -5.2% | ||
| Q3 24 | 8.2% | 6.7% | ||
| Q2 24 | 9.7% | 10.4% | ||
| Q1 24 | — | 11.7% |
每股收益（稀释后）FUNMCHP
| Q4 25 | $-0.93 | $0.06 | ||
| Q3 25 | $-11.77 | $0.03 | ||
| Q2 25 | $-0.99 | $-0.09 | ||
| Q1 25 | $-2.20 | $-0.29 | ||
| Q4 24 | — | $-0.10 | ||
| Q3 24 | $1.10 | $0.14 | ||
| Q2 24 | — | $0.24 | ||
| Q1 24 | — | $0.29 |
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 | $250.7M |
| 总债务越低越好 | $5.2B | $5.4B |
| 股东权益账面价值 | $549.8M | $6.6B |
| 总资产 | $7.8B | $14.3B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.82× |
8季度趋势，按日历期对齐
现金及短期投资FUNMCHP
| Q4 25 | $91.1M | $250.7M | ||
| Q3 25 | $70.7M | $236.8M | ||
| Q2 25 | $107.4M | $566.5M | ||
| Q1 25 | $61.5M | $771.7M | ||
| Q4 24 | — | $586.0M | ||
| Q3 24 | $89.7M | $286.1M | ||
| Q2 24 | $52.9M | $315.1M | ||
| Q1 24 | — | $319.7M |
总债务FUNMCHP
| Q4 25 | $5.2B | $5.4B | ||
| Q3 25 | $5.0B | $5.4B | ||
| Q2 25 | $5.3B | $5.5B | ||
| Q1 25 | $5.0B | $5.6B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | $4.6B | $6.4B | ||
| Q2 24 | $2.3B | $6.2B | ||
| Q1 24 | — | $6.0B |
股东权益FUNMCHP
| Q4 25 | $549.8M | $6.6B | ||
| Q3 25 | $614.3M | $6.7B | ||
| Q2 25 | $1.8B | $6.9B | ||
| Q1 25 | $1.8B | $7.1B | ||
| Q4 24 | — | $6.0B | ||
| Q3 24 | $2.3B | $6.3B | ||
| Q2 24 | — | $6.4B | ||
| Q1 24 | — | $6.7B |
总资产FUNMCHP
| Q4 25 | $7.8B | $14.3B | ||
| Q3 25 | $7.9B | $14.5B | ||
| Q2 25 | $9.5B | $15.0B | ||
| Q1 25 | $9.2B | $15.4B | ||
| Q4 24 | — | $15.6B | ||
| Q3 24 | $9.4B | $15.6B | ||
| Q2 24 | $2.3B | $15.8B | ||
| Q1 24 | — | $15.9B |
负债/权益比FUNMCHP
| Q4 25 | 9.40× | 0.82× | ||
| Q3 25 | 8.16× | 0.80× | ||
| Q2 25 | 2.97× | 0.80× | ||
| Q1 25 | 2.75× | 0.80× | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | 1.95× | 1.02× | ||
| Q2 24 | — | 0.96× | ||
| Q1 24 | — | 0.90× |
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 | $341.4M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $318.9M |
| 自由现金流率自由现金流/营收 | -16.8% | 26.9% |
| 资本支出强度资本支出/营收 | 11.0% | 1.9% |
| 现金转化率经营现金流/净利润 | — | 5.44× |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $819.9M |
8季度趋势，按日历期对齐
经营现金流FUNMCHP
| Q4 25 | $-37.7M | $341.4M | ||
| Q3 25 | $356.2M | $88.1M | ||
| Q2 25 | $187.0M | $275.6M | ||
| Q1 25 | $-178.0M | $205.9M | ||
| Q4 24 | — | $271.5M | ||
| Q3 24 | $337.4M | $43.6M | ||
| Q2 24 | — | $377.1M | ||
| Q1 24 | — | $430.0M |
自由现金流FUNMCHP
| Q4 25 | $-109.3M | $318.9M | ||
| Q3 25 | $256.2M | $51.6M | ||
| Q2 25 | $18.8M | $257.7M | ||
| Q1 25 | $-318.0M | $191.7M | ||
| Q4 24 | — | $253.4M | ||
| Q3 24 | $227.7M | $22.8M | ||
| Q2 24 | — | $304.2M | ||
| Q1 24 | — | $389.9M |
自由现金流率FUNMCHP
| Q4 25 | -16.8% | 26.9% | ||
| Q3 25 | 19.4% | 4.5% | ||
| Q2 25 | 2.0% | 24.0% | ||
| Q1 25 | -157.4% | 19.8% | ||
| Q4 24 | — | 24.7% | ||
| Q3 24 | 16.9% | 2.0% | ||
| Q2 24 | — | 24.5% | ||
| Q1 24 | — | 29.4% |
资本支出强度FUNMCHP
| Q4 25 | 11.0% | 1.9% | ||
| Q3 25 | 7.6% | 3.2% | ||
| Q2 25 | 18.1% | 1.7% | ||
| Q1 25 | 69.3% | 1.5% | ||
| Q4 24 | — | 1.8% | ||
| Q3 24 | 8.1% | 1.8% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | 3.0% |
现金转化率FUNMCHP
| Q4 25 | — | 5.44× | ||
| Q3 25 | — | 2.11× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.04× | 0.56× | ||
| Q2 24 | — | 2.92× | ||
| Q1 24 | — | 2.78× |
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% |
MCHP
| Mixed Signal Microcontrollers | $586.5M | 49% |
| Analog | $322.9M | 27% |
| Other Product Line | $276.6M | 23% |
