vs
六旗（FUN）与M/I HOMES, INC.（MHO）财务数据对比。点击上方公司名可切换其他公司
M/I HOMES, INC.的季度营收约是六旗的5.1倍（$1.1B vs $225.6M），M/I HOMES, INC.净利率更高（5.6% vs -119.0%，领先124.6%），六旗同比增速更快（11.7% vs -4.8%）
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。
M/I Homes是美国领先的住宅建筑企业，主要设计、建造及销售独栋住宅、联排住宅与复式公寓，业务覆盖美国多州，面向首次置业、改善型及高端置业群体，提供节能住宅产品与个性化定制服务。
FUN vs MHO — 直观对比
营收规模更大
MHO
是对方的5.1倍
$225.6M
营收增速更快
FUN
高出16.5%
-4.8%
净利率更高
MHO
高出124.6%
-119.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $1.1B |
| 净利润 | $-268.6M | $64.0M |
| 毛利率 | — | 17.4% |
| 营业利润率 | — | 6.5% |
| 净利率 | -119.0% | 5.6% |
| 营收同比 | 11.7% | -4.8% |
| 净利润同比 | -22.2% | -52.1% |
| 每股收益（稀释后） | — | $2.42 |
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FUNMHO
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $1.1B | ||
| Q3 25 | $1.3B | $1.1B | ||
| Q2 25 | $930.4M | $1.2B | ||
| Q1 25 | $202.1M | $976.1M | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $1.3B | $1.1B | ||
| Q2 24 | $571.6M | $1.1B |
净利润FUNMHO
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $64.0M | ||
| Q3 25 | $-1.2B | $106.5M | ||
| Q2 25 | $-99.6M | $121.2M | ||
| Q1 25 | $-219.7M | $111.2M | ||
| Q4 24 | — | $133.5M | ||
| Q3 24 | $111.0M | $145.4M | ||
| Q2 24 | $55.6M | $146.7M |
毛利率FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | 17.4% | ||
| Q3 25 | 91.6% | 24.5% | ||
| Q2 25 | 91.3% | 24.7% | ||
| Q1 25 | 89.3% | 25.9% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | 91.9% | 27.1% | ||
| Q2 24 | 90.7% | 27.9% |
营业利润率FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | 6.5% | ||
| Q3 25 | -83.7% | 12.0% | ||
| Q2 25 | 8.0% | 13.4% | ||
| Q1 25 | -158.9% | 14.4% | ||
| Q4 24 | — | 13.6% | ||
| Q3 24 | 19.5% | 15.9% | ||
| Q2 24 | 21.6% | 16.8% |
净利率FUNMHO
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | 5.6% | ||
| Q3 25 | -90.1% | 9.4% | ||
| Q2 25 | -10.7% | 10.4% | ||
| Q1 25 | -108.7% | 11.4% | ||
| Q4 24 | — | 11.1% | ||
| Q3 24 | 8.2% | 12.7% | ||
| Q2 24 | 9.7% | 13.2% |
每股收益（稀释后）FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $2.42 | ||
| Q3 25 | $-11.77 | $3.92 | ||
| Q2 25 | $-0.99 | $4.42 | ||
| Q1 25 | $-2.20 | $3.98 | ||
| Q4 24 | — | $4.71 | ||
| Q3 24 | $1.10 | $5.10 | ||
| Q2 24 | — | $5.12 |
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 | — |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | $3.2B |
| 总资产 | $7.7B | $4.8B |
| 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FUNMHO
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | — | ||
| Q3 25 | $70.7M | — | ||
| Q2 25 | $107.4M | — | ||
| Q1 25 | $61.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $89.7M | — | ||
| Q2 24 | $52.9M | — |
总债务FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — |
股东权益FUNMHO
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $3.2B | ||
| Q3 25 | $614.3M | $3.1B | ||
| Q2 25 | $1.8B | $3.1B | ||
| Q1 25 | $1.8B | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $2.3B | $2.8B | ||
| Q2 24 | — | $2.7B |
总资产FUNMHO
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $4.8B | ||
| Q3 25 | $7.9B | $4.8B | ||
| Q2 25 | $9.5B | $4.7B | ||
| Q1 25 | $9.2B | $4.6B | ||
| Q4 24 | — | $4.5B | ||
| Q3 24 | $9.4B | $4.5B | ||
| Q2 24 | $2.3B | $4.3B |
负债/权益比FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | — | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.95× | — | ||
| Q2 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 | — | $-8.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-13.0M |
| 自由现金流率自由现金流/营收 | — | -1.1% |
| 资本支出强度资本支出/营收 | — | 0.4% |
| 现金转化率经营现金流/净利润 | — | -0.14× |
| 过去12个月自由现金流最近4个季度 | — | $127.7M |
8季度趋势，按日历期对齐
经营现金流FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $-8.7M | ||
| Q3 25 | $356.2M | $43.4M | ||
| Q2 25 | $187.0M | $37.8M | ||
| Q1 25 | $-178.0M | $64.9M | ||
| Q4 24 | — | $104.4M | ||
| Q3 24 | $337.4M | $-67.9M | ||
| Q2 24 | — | $27.5M |
自由现金流FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $-13.0M | ||
| Q3 25 | $256.2M | $42.0M | ||
| Q2 25 | $18.8M | $35.1M | ||
| Q1 25 | $-318.0M | $63.5M | ||
| Q4 24 | — | $102.3M | ||
| Q3 24 | $227.7M | $-68.5M | ||
| Q2 24 | — | $22.0M |
自由现金流率FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | -1.1% | ||
| Q3 25 | 19.4% | 3.7% | ||
| Q2 25 | 2.0% | 3.0% | ||
| Q1 25 | -157.4% | 6.5% | ||
| Q4 24 | — | 8.5% | ||
| Q3 24 | 16.9% | -6.0% | ||
| Q2 24 | — | 2.0% |
资本支出强度FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 0.4% | ||
| Q3 25 | 7.6% | 0.1% | ||
| Q2 25 | 18.1% | 0.2% | ||
| Q1 25 | 69.3% | 0.1% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | 8.1% | 0.1% | ||
| Q2 24 | — | 0.5% |
现金转化率FUNMHO
| Q1 26 | — | — | ||
| Q4 25 | — | -0.14× | ||
| Q3 25 | — | 0.41× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.78× | ||
| Q3 24 | 3.04× | -0.47× | ||
| Q2 24 | — | 0.19× |
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% |
MHO
| Southern Homebuilding | $615.6M | 54% |
| Northern Homebuilding | $503.9M | 44% |
| Financial Service | $27.8M | 2% |
| Land | $4.7M | 0% |
