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六旗（FUN）与UiPath, Inc.（PATH）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UiPath, Inc.的1.6倍（$650.1M vs $411.1M），UiPath, Inc.净利率更高（48.4% vs -14.2%，领先62.6%），UiPath, Inc.自由现金流更多（$25.1M 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。
UiPath是一家全球化软件企业，专注于开发人工智能、智能自动化及流程编排类软件，其产品支持用户搭建与调度AI代理，实现复杂业务流程、工作流的自动化运行，助力各行业客户提升运营效率、降低人力成本。
FUN vs PATH — 直观对比
营收规模更大
FUN
是对方的1.6倍
$411.1M
净利率更高
PATH
高出62.6%
-14.2%
自由现金流更多
PATH
多$134.4M
$-109.3M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $411.1M |
| 净利润 | $-92.4M | $198.8M |
| 毛利率 | 91.4% | 83.3% |
| 营业利润率 | -3.8% | 3.2% |
| 净利率 | -14.2% | 48.4% |
| 营收同比 | — | 15.9% |
| 净利润同比 | — | 1966.2% |
| 每股收益（稀释后） | $-0.93 | $0.37 |
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FUNPATH
| Q4 25 | $650.1M | $411.1M | ||
| Q3 25 | $1.3B | $361.7M | ||
| Q2 25 | $930.4M | $356.6M | ||
| Q1 25 | $202.1M | $423.6M | ||
| Q4 24 | — | $354.7M | ||
| Q3 24 | $1.3B | $316.3M | ||
| Q2 24 | $571.6M | $335.1M | ||
| Q1 24 | — | $405.3M |
净利润FUNPATH
| Q4 25 | $-92.4M | $198.8M | ||
| Q3 25 | $-1.2B | $1.6M | ||
| Q2 25 | $-99.6M | $-22.6M | ||
| Q1 25 | $-219.7M | $51.8M | ||
| Q4 24 | — | $-10.7M | ||
| Q3 24 | $111.0M | $-86.1M | ||
| Q2 24 | $55.6M | $-28.7M | ||
| Q1 24 | — | $33.9M |
毛利率FUNPATH
| Q4 25 | 91.4% | 83.3% | ||
| Q3 25 | 91.6% | 82.2% | ||
| Q2 25 | 91.3% | 82.1% | ||
| Q1 25 | 89.3% | 84.8% | ||
| Q4 24 | — | 82.0% | ||
| Q3 24 | 91.9% | 80.0% | ||
| Q2 24 | 90.7% | 83.5% | ||
| Q1 24 | — | 86.8% |
营业利润率FUNPATH
| Q4 25 | -3.8% | 3.2% | ||
| Q3 25 | -83.7% | -5.6% | ||
| Q2 25 | 8.0% | -4.6% | ||
| Q1 25 | -158.9% | 7.9% | ||
| Q4 24 | — | -12.2% | ||
| Q3 24 | 19.5% | -32.7% | ||
| Q2 24 | 21.6% | -14.8% | ||
| Q1 24 | — | 3.7% |
净利率FUNPATH
| Q4 25 | -14.2% | 48.4% | ||
| Q3 25 | -90.1% | 0.4% | ||
| Q2 25 | -10.7% | -6.3% | ||
| Q1 25 | -108.7% | 12.2% | ||
| Q4 24 | — | -3.0% | ||
| Q3 24 | 8.2% | -27.2% | ||
| Q2 24 | 9.7% | -8.6% | ||
| Q1 24 | — | 8.4% |
每股收益（稀释后）FUNPATH
| Q4 25 | $-0.93 | $0.37 | ||
| Q3 25 | $-11.77 | $0.00 | ||
| Q2 25 | $-0.99 | $-0.04 | ||
| Q1 25 | $-2.20 | $0.09 | ||
| Q4 24 | — | $-0.02 | ||
| Q3 24 | $1.10 | $-0.15 | ||
| Q2 24 | — | $-0.05 | ||
| Q1 24 | — | $0.07 |
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 | $1.4B |
| 总债务越低越好 | $5.2B | — |
| 股东权益账面价值 | $549.8M | $1.9B |
| 总资产 | $7.8B | $2.9B |
| 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FUNPATH
| Q4 25 | $91.1M | $1.4B | ||
| Q3 25 | $70.7M | $1.4B | ||
| Q2 25 | $107.4M | $1.6B | ||
| Q1 25 | $61.5M | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | $89.7M | $1.7B | ||
| Q2 24 | $52.9M | $1.9B | ||
| Q1 24 | — | $1.9B |
总债务FUNPATH
| 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FUNPATH
| Q4 25 | $549.8M | $1.9B | ||
| Q3 25 | $614.3M | $1.7B | ||
| Q2 25 | $1.8B | $1.7B | ||
| Q1 25 | $1.8B | $1.8B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $2.3B | $1.8B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $2.0B |
总资产FUNPATH
| Q4 25 | $7.8B | $2.9B | ||
| Q3 25 | $7.9B | $2.6B | ||
| Q2 25 | $9.5B | $2.6B | ||
| Q1 25 | $9.2B | $2.9B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | $9.4B | $2.7B | ||
| Q2 24 | $2.3B | $2.8B | ||
| Q1 24 | — | $3.0B |
负债/权益比FUNPATH
| 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 | $28.3M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $25.1M |
| 自由现金流率自由现金流/营收 | -16.8% | 6.1% |
| 资本支出强度资本支出/营收 | 11.0% | 0.8% |
| 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 | $-152.2M | — |
8季度趋势，按日历期对齐
经营现金流FUNPATH
| Q4 25 | $-37.7M | $28.3M | ||
| Q3 25 | $356.2M | $41.6M | ||
| Q2 25 | $187.0M | $119.0M | ||
| Q1 25 | $-178.0M | $146.1M | ||
| Q4 24 | — | $28.1M | ||
| Q3 24 | $337.4M | $46.4M | ||
| Q2 24 | — | $100.0M | ||
| Q1 24 | — | $145.6M |
自由现金流FUNPATH
| Q4 25 | $-109.3M | $25.1M | ||
| Q3 25 | $256.2M | — | ||
| Q2 25 | $18.8M | $106.2M | ||
| Q1 25 | $-318.0M | $138.7M | ||
| Q4 24 | — | $23.2M | ||
| Q3 24 | $227.7M | $45.0M | ||
| Q2 24 | — | $98.8M | ||
| Q1 24 | — | $141.8M |
自由现金流率FUNPATH
| Q4 25 | -16.8% | 6.1% | ||
| Q3 25 | 19.4% | — | ||
| Q2 25 | 2.0% | 29.8% | ||
| Q1 25 | -157.4% | 32.7% | ||
| Q4 24 | — | 6.5% | ||
| Q3 24 | 16.9% | 14.2% | ||
| Q2 24 | — | 29.5% | ||
| Q1 24 | — | 35.0% |
资本支出强度FUNPATH
| Q4 25 | 11.0% | 0.8% | ||
| Q3 25 | 7.6% | 0.0% | ||
| Q2 25 | 18.1% | 3.6% | ||
| Q1 25 | 69.3% | 1.7% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 8.1% | 0.4% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.9% |
现金转化率FUNPATH
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 26.25× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.82× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.04× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 4.29× |
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% |
PATH
| Subscription Services | $247.6M | 60% |
| License | $150.0M | 36% |
| Professional Services And Other | $13.5M | 3% |
