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六旗（FUN）与摩丁制造（MOD）财务数据对比。点击上方公司名可切换其他公司
摩丁制造的季度营收约是六旗的1.2倍（$805.0M vs $650.1M），摩丁制造净利率更高（-5.9% vs -14.2%，领先8.3%），摩丁制造自由现金流更多（$-17.1M 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。
摩丁制造是1916年成立于美国的热管理企业。创始人亚瑟·B·摩丁获拖拉机Spirex散热器专利后创立公司，曾为福特T型车生产Turbotube散热器，1941年在威斯康星州拉辛建成全球首个车用风洞，二战期间为P-51野马战斗机供应后冷却器。
FUN vs MOD — 直观对比
营收规模更大
MOD
是对方的1.2倍
$650.1M
净利率更高
MOD
高出8.3%
-14.2%
自由现金流更多
MOD
多$92.2M
$-109.3M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $805.0M |
| 净利润 | $-92.4M | $-47.4M |
| 毛利率 | 91.4% | 23.1% |
| 营业利润率 | -3.8% | 11.1% |
| 净利率 | -14.2% | -5.9% |
| 营收同比 | — | 30.5% |
| 净利润同比 | — | -215.6% |
| 每股收益（稀释后） | $-0.93 | $-0.90 |
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FUNMOD
| Q4 25 | $650.1M | $805.0M | ||
| Q3 25 | $1.3B | $738.9M | ||
| Q2 25 | $930.4M | $682.8M | ||
| Q1 25 | $202.1M | $647.2M | ||
| Q4 24 | — | $616.8M | ||
| Q3 24 | $1.3B | $658.0M | ||
| Q2 24 | $571.6M | $661.5M | ||
| Q1 24 | — | $603.5M |
净利润FUNMOD
| Q4 25 | $-92.4M | $-47.4M | ||
| Q3 25 | $-1.2B | $44.4M | ||
| Q2 25 | $-99.6M | $51.2M | ||
| Q1 25 | $-219.7M | $49.6M | ||
| Q4 24 | — | $41.0M | ||
| Q3 24 | $111.0M | $46.1M | ||
| Q2 24 | $55.6M | $47.3M | ||
| Q1 24 | — | $25.8M |
毛利率FUNMOD
| Q4 25 | 91.4% | 23.1% | ||
| Q3 25 | 91.6% | 22.3% | ||
| Q2 25 | 91.3% | 24.2% | ||
| Q1 25 | 89.3% | 25.6% | ||
| Q4 24 | — | 24.3% | ||
| Q3 24 | 91.9% | 25.2% | ||
| Q2 24 | 90.7% | 24.6% | ||
| Q1 24 | — | 22.4% |
营业利润率FUNMOD
| Q4 25 | -3.8% | 11.1% | ||
| Q3 25 | -83.7% | 9.9% | ||
| Q2 25 | 8.0% | 11.1% | ||
| Q1 25 | -158.9% | 11.5% | ||
| Q4 24 | — | 9.6% | ||
| Q3 24 | 19.5% | 11.4% | ||
| Q2 24 | 21.6% | 11.2% | ||
| Q1 24 | — | 7.8% |
净利率FUNMOD
| Q4 25 | -14.2% | -5.9% | ||
| Q3 25 | -90.1% | 6.0% | ||
| Q2 25 | -10.7% | 7.5% | ||
| Q1 25 | -108.7% | 7.7% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | 8.2% | 7.0% | ||
| Q2 24 | 9.7% | 7.2% | ||
| Q1 24 | — | 4.3% |
每股收益（稀释后）FUNMOD
| Q4 25 | $-0.93 | $-0.90 | ||
| Q3 25 | $-11.77 | $0.83 | ||
| Q2 25 | $-0.99 | $0.95 | ||
| Q1 25 | $-2.20 | $0.92 | ||
| Q4 24 | — | $0.76 | ||
| Q3 24 | $1.10 | $0.86 | ||
| Q2 24 | — | $0.88 | ||
| Q1 24 | — | $0.48 |
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 | $98.7M |
| 总债务越低越好 | $5.2B | $570.7M |
| 股东权益账面价值 | $549.8M | $1.1B |
| 总资产 | $7.8B | $2.5B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.51× |
8季度趋势，按日历期对齐
现金及短期投资FUNMOD
| Q4 25 | $91.1M | $98.7M | ||
| Q3 25 | $70.7M | $83.8M | ||
| Q2 25 | $107.4M | $124.5M | ||
| Q1 25 | $61.5M | $71.6M | ||
| Q4 24 | — | $83.8M | ||
| Q3 24 | $89.7M | $78.6M | ||
| Q2 24 | $52.9M | $72.9M | ||
| Q1 24 | — | $60.1M |
总债务FUNMOD
| Q4 25 | $5.2B | $570.7M | ||
| Q3 25 | $5.0B | $525.8M | ||
| Q2 25 | $5.3B | $482.1M | ||
| Q1 25 | $5.0B | $296.7M | ||
| Q4 24 | — | $330.0M | ||
| Q3 24 | $4.6B | $359.1M | ||
| Q2 24 | $2.3B | $405.7M | ||
| Q1 24 | — | $399.9M |
股东权益FUNMOD
| Q4 25 | $549.8M | $1.1B | ||
| Q3 25 | $614.3M | $1.1B | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.8B | $910.2M | ||
| Q4 24 | — | $855.1M | ||
| Q3 24 | $2.3B | $858.8M | ||
| Q2 24 | — | $788.4M | ||
| Q1 24 | — | $747.6M |
总资产FUNMOD
| Q4 25 | $7.8B | $2.5B | ||
| Q3 25 | $7.9B | $2.4B | ||
| Q2 25 | $9.5B | $2.2B | ||
| Q1 25 | $9.2B | $1.9B | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | $9.4B | $1.9B | ||
| Q2 24 | $2.3B | $1.9B | ||
| Q1 24 | — | $1.9B |
负债/权益比FUNMOD
| Q4 25 | 9.40× | 0.51× | ||
| Q3 25 | 8.16× | 0.50× | ||
| Q2 25 | 2.97× | 0.48× | ||
| Q1 25 | 2.75× | 0.33× | ||
| Q4 24 | — | 0.39× | ||
| Q3 24 | 1.95× | 0.42× | ||
| Q2 24 | — | 0.51× | ||
| Q1 24 | — | 0.53× |
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 | $24.7M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $-17.1M |
| 自由现金流率自由现金流/营收 | -16.8% | -2.1% |
| 资本支出强度资本支出/营收 | 11.0% | 5.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $-20.3M |
8季度趋势，按日历期对齐
经营现金流FUNMOD
| Q4 25 | $-37.7M | $24.7M | ||
| Q3 25 | $356.2M | $1.4M | ||
| Q2 25 | $187.0M | $27.7M | ||
| Q1 25 | $-178.0M | $54.8M | ||
| Q4 24 | — | $60.7M | ||
| Q3 24 | $337.4M | $57.3M | ||
| Q2 24 | — | $40.5M | ||
| Q1 24 | — | $39.6M |
自由现金流FUNMOD
| Q4 25 | $-109.3M | $-17.1M | ||
| Q3 25 | $256.2M | $-30.5M | ||
| Q2 25 | $18.8M | $200.0K | ||
| Q1 25 | $-318.0M | $27.1M | ||
| Q4 24 | — | $44.7M | ||
| Q3 24 | $227.7M | $43.8M | ||
| Q2 24 | — | $13.7M | ||
| Q1 24 | — | $-4.3M |
自由现金流率FUNMOD
| Q4 25 | -16.8% | -2.1% | ||
| Q3 25 | 19.4% | -4.1% | ||
| Q2 25 | 2.0% | 0.0% | ||
| Q1 25 | -157.4% | 4.2% | ||
| Q4 24 | — | 7.2% | ||
| Q3 24 | 16.9% | 6.7% | ||
| Q2 24 | — | 2.1% | ||
| Q1 24 | — | -0.7% |
资本支出强度FUNMOD
| Q4 25 | 11.0% | 5.2% | ||
| Q3 25 | 7.6% | 4.3% | ||
| Q2 25 | 18.1% | 4.0% | ||
| Q1 25 | 69.3% | 4.3% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 8.1% | 2.1% | ||
| Q2 24 | — | 4.1% | ||
| Q1 24 | — | 7.3% |
现金转化率FUNMOD
| Q4 25 | — | — | ||
| Q3 25 | — | 0.03× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | 3.04× | 1.24× | ||
| Q2 24 | — | 0.86× | ||
| Q1 24 | — | 1.53× |
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% |
MOD
| Data Centers | $296.9M | 37% |
| Performance Technologies | $266.0M | 33% |
| Hvac Technologies | $107.1M | 13% |
| Air Cooled | $92.4M | 11% |
| Lb White | $25.6M | 3% |
| Climate By Design | $10.2M | 1% |
| Absolutaire | $7.0M | 1% |
