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六旗（FUN）与先锋自然资源公司（PR）财务数据对比。点击上方公司名可切换其他公司
先锋自然资源公司的季度营收约是六旗的1.8倍（$1.2B vs $650.1M），先锋自然资源公司净利率更高（29.0% vs -14.2%，领先43.2%）
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。
先锋自然资源公司总部位于美国得克萨斯州欧文市，主要从事油气勘探业务，运营覆盖二叠纪盆地Spraberry产区的克莱恩页岩区块，是该区域最大的土地权益持有方，2024年5月被埃克森美孚收购。
FUN vs PR — 直观对比
营收规模更大
PR
是对方的1.8倍
$650.1M
净利率更高
PR
高出43.2%
-14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $1.2B |
| 净利润 | $-92.4M | $339.5M |
| 毛利率 | 91.4% | — |
| 营业利润率 | -3.8% | 23.1% |
| 净利率 | -14.2% | 29.0% |
| 营收同比 | — | -9.8% |
| 净利润同比 | — | 56.7% |
| 每股收益（稀释后） | $-0.93 | $0.48 |
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FUNPR
| Q4 25 | $650.1M | $1.2B | ||
| Q3 25 | $1.3B | $1.3B | ||
| Q2 25 | $930.4M | $1.2B | ||
| Q1 25 | $202.1M | $1.4B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $1.3B | $1.2B | ||
| Q2 24 | $571.6M | $1.2B | ||
| Q1 24 | — | $1.2B |
净利润FUNPR
| Q4 25 | $-92.4M | $339.5M | ||
| Q3 25 | $-1.2B | $59.2M | ||
| Q2 25 | $-99.6M | $207.1M | ||
| Q1 25 | $-219.7M | $329.3M | ||
| Q4 24 | — | $216.7M | ||
| Q3 24 | $111.0M | $386.4M | ||
| Q2 24 | $55.6M | $235.1M | ||
| Q1 24 | — | $146.6M |
毛利率FUNPR
| 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FUNPR
| Q4 25 | -3.8% | 23.1% | ||
| Q3 25 | -83.7% | 29.6% | ||
| Q2 25 | 8.0% | 24.8% | ||
| Q1 25 | -158.9% | 36.6% | ||
| Q4 24 | — | 32.8% | ||
| Q3 24 | 19.5% | 32.5% | ||
| Q2 24 | 21.6% | 36.5% | ||
| Q1 24 | — | 37.7% |
净利率FUNPR
| Q4 25 | -14.2% | 29.0% | ||
| Q3 25 | -90.1% | 4.5% | ||
| Q2 25 | -10.7% | 17.3% | ||
| Q1 25 | -108.7% | 23.9% | ||
| Q4 24 | — | 16.7% | ||
| Q3 24 | 8.2% | 31.8% | ||
| Q2 24 | 9.7% | 18.9% | ||
| Q1 24 | — | 11.8% |
每股收益（稀释后）FUNPR
| Q4 25 | $-0.93 | $0.48 | ||
| Q3 25 | $-11.77 | $0.08 | ||
| Q2 25 | $-0.99 | $0.28 | ||
| Q1 25 | $-2.20 | $0.44 | ||
| Q4 24 | — | $0.31 | ||
| Q3 24 | $1.10 | $0.53 | ||
| Q2 24 | — | $0.36 | ||
| Q1 24 | — | $0.25 |
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 | $153.7M |
| 总债务越低越好 | $5.2B | $3.5B |
| 股东权益账面价值 | $549.8M | $10.3B |
| 总资产 | $7.8B | $17.9B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.34× |
8季度趋势，按日历期对齐
现金及短期投资FUNPR
| Q4 25 | $91.1M | $153.7M | ||
| Q3 25 | $70.7M | $111.8M | ||
| Q2 25 | $107.4M | $451.0M | ||
| Q1 25 | $61.5M | $702.2M | ||
| Q4 24 | — | $479.3M | ||
| Q3 24 | $89.7M | $272.0M | ||
| Q2 24 | $52.9M | $47.8M | ||
| Q1 24 | — | $12.7M |
总债务FUNPR
| Q4 25 | $5.2B | $3.5B | ||
| Q3 25 | $5.0B | $3.5B | ||
| Q2 25 | $5.3B | $4.0B | ||
| Q1 25 | $5.0B | $4.0B | ||
| Q4 24 | — | $4.2B | ||
| Q3 24 | $4.6B | $4.2B | ||
| Q2 24 | $2.3B | $3.9B | ||
| Q1 24 | — | $3.9B |
股东权益FUNPR
| Q4 25 | $549.8M | $10.3B | ||
| Q3 25 | $614.3M | $10.0B | ||
| Q2 25 | $1.8B | $9.5B | ||
| Q1 25 | $1.8B | $9.4B | ||
| Q4 24 | — | $9.1B | ||
| Q3 24 | $2.3B | $9.0B | ||
| Q2 24 | — | $8.3B | ||
| Q1 24 | — | $7.0B |
总资产FUNPR
| Q4 25 | $7.8B | $17.9B | ||
| Q3 25 | $7.9B | $17.3B | ||
| Q2 25 | $9.5B | $17.5B | ||
| Q1 25 | $9.2B | $17.1B | ||
| Q4 24 | — | $16.9B | ||
| Q3 24 | $9.4B | $16.6B | ||
| Q2 24 | $2.3B | $15.4B | ||
| Q1 24 | — | $15.1B |
负债/权益比FUNPR
| Q4 25 | 9.40× | 0.34× | ||
| Q3 25 | 8.16× | 0.35× | ||
| Q2 25 | 2.97× | 0.42× | ||
| Q1 25 | 2.75× | 0.43× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | 1.95× | 0.47× | ||
| Q2 24 | — | 0.46× | ||
| Q1 24 | — | 0.56× |
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 | $904.3M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | — |
| 自由现金流率自由现金流/营收 | -16.8% | — |
| 资本支出强度资本支出/营收 | 11.0% | — |
| 现金转化率经营现金流/净利润 | — | 2.66× |
| 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FUNPR
| Q4 25 | $-37.7M | $904.3M | ||
| Q3 25 | $356.2M | $766.5M | ||
| Q2 25 | $187.0M | $1.0B | ||
| Q1 25 | $-178.0M | $898.0M | ||
| Q4 24 | — | $871.6M | ||
| Q3 24 | $337.4M | $954.4M | ||
| Q2 24 | — | $938.4M | ||
| Q1 24 | — | $647.6M |
自由现金流FUNPR
| Q4 25 | $-109.3M | — | ||
| Q3 25 | $256.2M | — | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $-318.0M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $227.7M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
自由现金流率FUNPR
| Q4 25 | -16.8% | — | ||
| Q3 25 | 19.4% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | -157.4% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
资本支出强度FUNPR
| Q4 25 | 11.0% | — | ||
| Q3 25 | 7.6% | — | ||
| Q2 25 | 18.1% | — | ||
| Q1 25 | 69.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率FUNPR
| Q4 25 | — | 2.66× | ||
| Q3 25 | — | 12.94× | ||
| Q2 25 | — | 5.01× | ||
| Q1 25 | — | 2.73× | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | 3.04× | 2.47× | ||
| Q2 24 | — | 3.99× | ||
| Q1 24 | — | 4.42× |
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% |
PR
| Crude Oil | $1.0B | 87% |
| Natural Gas Liquids Reserves | $145.1M | 12% |
