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六旗（FUN）与Ultragenyx Pharmaceutical Inc.（RARE）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Ultragenyx Pharmaceutical Inc.的1.1倍（$225.6M vs $207.3M），Ultragenyx Pharmaceutical Inc.净利率更高（-62.0% vs -119.0%，领先57.0%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs 11.7%）
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。
Ultragenyx Pharmaceutical Inc.是一家总部位于美国的生物制药企业，专注于研发罕见病和超罕见遗传病的创新治疗方案，这类疾病目前大多无获批疗法，存在大量未被满足的临床需求。公司覆盖生物制剂、小分子药物、基因疗法、反义寡核苷酸及mRNA等多种药物技术平台，研发管线涵盖骨骼、内分泌、代谢、肌肉及中枢神经系统疾病领域。
FUN vs RARE — 直观对比
营收规模更大
FUN
是对方的1.1倍
$207.3M
营收增速更快
RARE
高出14.2%
11.7%
净利率更高
RARE
高出57.0%
-119.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $207.3M |
| 净利润 | $-268.6M | $-128.6M |
| 毛利率 | — | — |
| 营业利润率 | — | -54.7% |
| 净利率 | -119.0% | -62.0% |
| 营收同比 | 11.7% | 25.9% |
| 净利润同比 | -22.2% | 3.5% |
| 每股收益（稀释后） | — | $-1.28 |
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FUNRARE
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $207.3M | ||
| Q3 25 | $1.3B | $159.9M | ||
| Q2 25 | $930.4M | $166.5M | ||
| Q1 25 | $202.1M | $139.3M | ||
| Q4 24 | — | $164.6M | ||
| Q3 24 | $1.3B | $139.5M | ||
| Q2 24 | $571.6M | $147.0M |
净利润FUNRARE
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $-128.6M | ||
| Q3 25 | $-1.2B | $-180.4M | ||
| Q2 25 | $-99.6M | $-115.0M | ||
| Q1 25 | $-219.7M | $-151.1M | ||
| Q4 24 | — | $-133.2M | ||
| Q3 24 | $111.0M | $-133.5M | ||
| Q2 24 | $55.6M | $-131.6M |
毛利率FUNRARE
| Q1 26 | — | — | ||
| 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% | — |
营业利润率FUNRARE
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | -54.7% | ||
| Q3 25 | -83.7% | -106.9% | ||
| Q2 25 | 8.0% | -64.8% | ||
| Q1 25 | -158.9% | -102.6% | ||
| Q4 24 | — | -74.3% | ||
| Q3 24 | 19.5% | -94.6% | ||
| Q2 24 | 21.6% | -79.1% |
净利率FUNRARE
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | -62.0% | ||
| Q3 25 | -90.1% | -112.8% | ||
| Q2 25 | -10.7% | -69.0% | ||
| Q1 25 | -108.7% | -108.5% | ||
| Q4 24 | — | -80.9% | ||
| Q3 24 | 8.2% | -95.7% | ||
| Q2 24 | 9.7% | -89.5% |
每股收益（稀释后）FUNRARE
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $-1.28 | ||
| Q3 25 | $-11.77 | $-1.81 | ||
| Q2 25 | $-0.99 | $-1.17 | ||
| Q1 25 | $-2.20 | $-1.57 | ||
| Q4 24 | — | $-1.34 | ||
| Q3 24 | $1.10 | $-1.40 | ||
| Q2 24 | — | $-1.52 |
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 | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | $-80.0M |
| 总资产 | $7.7B | $1.5B |
| 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FUNRARE
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | $421.0M | ||
| Q3 25 | $70.7M | $202.5M | ||
| Q2 25 | $107.4M | $176.3M | ||
| Q1 25 | $61.5M | $127.1M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | $89.7M | $150.6M | ||
| Q2 24 | $52.9M | $480.7M |
总债务FUNRARE
| 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FUNRARE
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $-80.0M | ||
| Q3 25 | $614.3M | $9.2M | ||
| Q2 25 | $1.8B | $151.3M | ||
| Q1 25 | $1.8B | $144.2M | ||
| Q4 24 | — | $255.0M | ||
| Q3 24 | $2.3B | $346.8M | ||
| Q2 24 | — | $432.4M |
总资产FUNRARE
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $1.5B | ||
| Q3 25 | $7.9B | $1.2B | ||
| Q2 25 | $9.5B | $1.3B | ||
| Q1 25 | $9.2B | $1.3B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $9.4B | $1.5B | ||
| Q2 24 | $2.3B | $1.6B |
负债/权益比FUNRARE
| 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 | — | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | — | $-100.8M |
| 自由现金流率自由现金流/营收 | — | -48.6% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 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 | — | $-472.0M |
8季度趋势，按日历期对齐
经营现金流FUNRARE
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $-99.8M | ||
| Q3 25 | $356.2M | $-91.4M | ||
| Q2 25 | $187.0M | $-108.3M | ||
| Q1 25 | $-178.0M | $-166.5M | ||
| Q4 24 | — | $-79.3M | ||
| Q3 24 | $337.4M | $-67.0M | ||
| Q2 24 | — | $-77.0M |
自由现金流FUNRARE
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $-100.8M | ||
| Q3 25 | $256.2M | $-92.7M | ||
| Q2 25 | $18.8M | $-110.7M | ||
| Q1 25 | $-318.0M | $-167.8M | ||
| Q4 24 | — | $-79.5M | ||
| Q3 24 | $227.7M | $-68.6M | ||
| Q2 24 | — | $-79.0M |
自由现金流率FUNRARE
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | -48.6% | ||
| Q3 25 | 19.4% | -58.0% | ||
| Q2 25 | 2.0% | -66.5% | ||
| Q1 25 | -157.4% | -120.5% | ||
| Q4 24 | — | -48.3% | ||
| Q3 24 | 16.9% | -49.2% | ||
| Q2 24 | — | -53.7% |
资本支出强度FUNRARE
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 0.5% | ||
| Q3 25 | 7.6% | 0.8% | ||
| Q2 25 | 18.1% | 1.5% | ||
| Q1 25 | 69.3% | 1.0% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 8.1% | 1.2% | ||
| Q2 24 | — | 1.4% |
现金转化率FUNRARE
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.04× | — | ||
| Q2 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
| In-park admissions revenues | $113.4M | 50% |
| In-park product revenues | $89.0M | 39% |
| Out-of-park revenues | $28.8M | 13% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
