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六旗（FUN）与OUTFRONT Media Inc.（OUT）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OUTFRONT Media Inc.的1.3倍（$650.1M vs $513.3M），OUTFRONT Media Inc.净利率更高（18.9% vs -14.2%，领先33.1%），OUTFRONT Media Inc.自由现金流更多（$93.3M 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。
OUTFRONT Media Inc.是一家美国广告企业，业务覆盖美国本土，由首席执行官Nick Brien领导美洲区业务，核心经营广告牌及公共交通展示广告两大业务板块，是户外广告领域的重要参与者。
FUN vs OUT — 直观对比
营收规模更大
FUN
是对方的1.3倍
$513.3M
净利率更高
OUT
高出33.1%
-14.2%
自由现金流更多
OUT
多$202.6M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $513.3M |
| 净利润 | $-92.4M | $96.8M |
| 毛利率 | 91.4% | — |
| 营业利润率 | -3.8% | 26.0% |
| 净利率 | -14.2% | 18.9% |
| 营收同比 | — | 4.1% |
| 净利润同比 | — | 30.8% |
| 每股收益（稀释后） | $-0.93 | $0.57 |
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FUNOUT
| Q4 25 | $650.1M | $513.3M | ||
| Q3 25 | $1.3B | $467.5M | ||
| Q2 25 | $930.4M | $460.2M | ||
| Q1 25 | $202.1M | $390.7M | ||
| Q4 24 | — | $493.2M | ||
| Q3 24 | $1.3B | $451.9M | ||
| Q2 24 | $571.6M | $477.3M | ||
| Q1 24 | — | $408.5M |
净利润FUNOUT
| Q4 25 | $-92.4M | $96.8M | ||
| Q3 25 | $-1.2B | $51.3M | ||
| Q2 25 | $-99.6M | $19.5M | ||
| Q1 25 | $-219.7M | $-20.6M | ||
| Q4 24 | — | $74.0M | ||
| Q3 24 | $111.0M | $34.6M | ||
| Q2 24 | $55.6M | $176.8M | ||
| Q1 24 | — | $-27.2M |
毛利率FUNOUT
| Q4 25 | 91.4% | — | ||
| Q3 25 | 91.6% | — | ||
| Q2 25 | 91.3% | — | ||
| Q1 25 | 89.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 91.9% | — | ||
| Q2 24 | 90.7% | — | ||
| Q1 24 | — | — |
营业利润率FUNOUT
| Q4 25 | -3.8% | 26.0% | ||
| Q3 25 | -83.7% | 19.2% | ||
| Q2 25 | 8.0% | 12.2% | ||
| Q1 25 | -158.9% | 3.6% | ||
| Q4 24 | — | 22.5% | ||
| Q3 24 | 19.5% | 15.8% | ||
| Q2 24 | 21.6% | 48.0% | ||
| Q1 24 | — | 3.4% |
净利率FUNOUT
| Q4 25 | -14.2% | 18.9% | ||
| Q3 25 | -90.1% | 11.0% | ||
| Q2 25 | -10.7% | 4.2% | ||
| Q1 25 | -108.7% | -5.3% | ||
| Q4 24 | — | 15.0% | ||
| Q3 24 | 8.2% | 7.7% | ||
| Q2 24 | 9.7% | 37.0% | ||
| Q1 24 | — | -6.7% |
每股收益（稀释后）FUNOUT
| Q4 25 | $-0.93 | $0.57 | ||
| Q3 25 | $-11.77 | $0.29 | ||
| Q2 25 | $-0.99 | $0.10 | ||
| Q1 25 | $-2.20 | $-0.14 | ||
| Q4 24 | — | $0.49 | ||
| Q3 24 | $1.10 | $0.19 | ||
| Q2 24 | — | $1.01 | ||
| Q1 24 | — | $-0.18 |
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 | $99.9M |
| 总债务越低越好 | $5.2B | — |
| 股东权益账面价值 | $549.8M | $710.4M |
| 总资产 | $7.8B | $5.3B |
| 负债/权益比越低杠杆越低 | 9.40× | — |
8季度趋势，按日历期对齐
现金及短期投资FUNOUT
| Q4 25 | $91.1M | $99.9M | ||
| Q3 25 | $70.7M | $63.0M | ||
| Q2 25 | $107.4M | $28.5M | ||
| Q1 25 | $61.5M | $30.5M | ||
| Q4 24 | — | $46.9M | ||
| Q3 24 | $89.7M | $28.0M | ||
| Q2 24 | $52.9M | $49.6M | ||
| Q1 24 | — | $42.4M |
总债务FUNOUT
| 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 | — | ||
| Q1 24 | — | — |
股东权益FUNOUT
| Q4 25 | $549.8M | $710.4M | ||
| Q3 25 | $614.3M | $542.6M | ||
| Q2 25 | $1.8B | $539.1M | ||
| Q1 25 | $1.8B | $566.9M | ||
| Q4 24 | — | $649.0M | ||
| Q3 24 | $2.3B | $618.2M | ||
| Q2 24 | — | $664.9M | ||
| Q1 24 | — | $524.2M |
总资产FUNOUT
| Q4 25 | $7.8B | $5.3B | ||
| Q3 25 | $7.9B | $5.2B | ||
| Q2 25 | $9.5B | $5.1B | ||
| Q1 25 | $9.2B | $5.1B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $9.4B | $5.2B | ||
| Q2 24 | $2.3B | $5.3B | ||
| Q1 24 | — | $5.5B |
负债/权益比FUNOUT
| Q4 25 | 9.40× | — | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | — | ||
| 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 | $118.1M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $93.3M |
| 自由现金流率自由现金流/营收 | -16.8% | 18.2% |
| 资本支出强度资本支出/营收 | 11.0% | 4.8% |
| 现金转化率经营现金流/净利润 | — | 1.22× |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $218.8M |
8季度趋势，按日历期对齐
经营现金流FUNOUT
| Q4 25 | $-37.7M | $118.1M | ||
| Q3 25 | $356.2M | $88.8M | ||
| Q2 25 | $187.0M | $67.1M | ||
| Q1 25 | $-178.0M | $33.6M | ||
| Q4 24 | — | $124.5M | ||
| Q3 24 | $337.4M | $73.1M | ||
| Q2 24 | — | $71.0M | ||
| Q1 24 | — | $30.6M |
自由现金流FUNOUT
| Q4 25 | $-109.3M | $93.3M | ||
| Q3 25 | $256.2M | $67.7M | ||
| Q2 25 | $18.8M | $41.4M | ||
| Q1 25 | $-318.0M | $16.4M | ||
| Q4 24 | — | $106.3M | ||
| Q3 24 | $227.7M | $55.5M | ||
| Q2 24 | — | $47.1M | ||
| Q1 24 | — | $12.2M |
自由现金流率FUNOUT
| Q4 25 | -16.8% | 18.2% | ||
| Q3 25 | 19.4% | 14.5% | ||
| Q2 25 | 2.0% | 9.0% | ||
| Q1 25 | -157.4% | 4.2% | ||
| Q4 24 | — | 21.6% | ||
| Q3 24 | 16.9% | 12.3% | ||
| Q2 24 | — | 9.9% | ||
| Q1 24 | — | 3.0% |
资本支出强度FUNOUT
| Q4 25 | 11.0% | 4.8% | ||
| Q3 25 | 7.6% | 4.5% | ||
| Q2 25 | 18.1% | 5.6% | ||
| Q1 25 | 69.3% | 4.4% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | 8.1% | 3.9% | ||
| Q2 24 | — | 5.0% | ||
| Q1 24 | — | 4.5% |
现金转化率FUNOUT
| Q4 25 | — | 1.22× | ||
| Q3 25 | — | 1.73× | ||
| Q2 25 | — | 3.44× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.68× | ||
| Q3 24 | 3.04× | 2.11× | ||
| Q2 24 | — | 0.40× | ||
| 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% |
OUT
| Static Displays | $236.3M | 46% |
| Other | $134.8M | 26% |
| Digital Displays | $125.3M | 24% |
| Other Revenues | $1.9M | 0% |
