vs
六旗（FUN）与RBC Bearings INC（RBC）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RBC Bearings INC的1.4倍（$650.1M vs $461.6M），RBC Bearings INC净利率更高（14.6% vs -14.2%，领先28.8%），RBC Bearings INC自由现金流更多（$99.1M 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。
该文本实际介绍的并非RBC Bearings，而是美国多佛公司。多佛是一家工业产品综合制造商，1955年成立，总部位于伊利诺伊州当纳斯格罗夫。2021年其业务分为五大板块：工程产品、清洁能源与加注、成像与识别、泵与工艺解决方案、气候与可持续技术，是标普500成分股，在纽约证券交易所上市。
FUN vs RBC — 直观对比
营收规模更大
FUN
是对方的1.4倍
$461.6M
净利率更高
RBC
高出28.8%
-14.2%
自由现金流更多
RBC
多$208.4M
$-109.3M
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $461.6M |
| 净利润 | $-92.4M | $67.4M |
| 毛利率 | 91.4% | 44.3% |
| 营业利润率 | -3.8% | 22.3% |
| 净利率 | -14.2% | 14.6% |
| 营收同比 | — | 17.0% |
| 净利润同比 | — | 16.4% |
| 每股收益（稀释后） | $-0.93 | $2.13 |
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FUNRBC
| Q4 25 | $650.1M | $461.6M | ||
| Q3 25 | $1.3B | $455.3M | ||
| Q2 25 | $930.4M | $436.0M | ||
| Q1 25 | $202.1M | $437.7M | ||
| Q4 24 | — | $394.4M | ||
| Q3 24 | $1.3B | $397.9M | ||
| Q2 24 | $571.6M | $406.3M | ||
| Q1 24 | — | $413.7M |
净利润FUNRBC
| Q4 25 | $-92.4M | $67.4M | ||
| Q3 25 | $-1.2B | $60.0M | ||
| Q2 25 | $-99.6M | $68.5M | ||
| Q1 25 | $-219.7M | $72.7M | ||
| Q4 24 | — | $57.9M | ||
| Q3 24 | $111.0M | $54.2M | ||
| Q2 24 | $55.6M | $61.4M | ||
| Q1 24 | — | — |
毛利率FUNRBC
| Q4 25 | 91.4% | 44.3% | ||
| Q3 25 | 91.6% | 44.1% | ||
| Q2 25 | 91.3% | 44.8% | ||
| Q1 25 | 89.3% | 44.2% | ||
| Q4 24 | — | 44.3% | ||
| Q3 24 | 91.9% | 43.7% | ||
| Q2 24 | 90.7% | 45.3% | ||
| Q1 24 | — | 43.1% |
营业利润率FUNRBC
| Q4 25 | -3.8% | 22.3% | ||
| Q3 25 | -83.7% | 21.5% | ||
| Q2 25 | 8.0% | 23.2% | ||
| Q1 25 | -158.9% | 23.0% | ||
| Q4 24 | — | 21.7% | ||
| Q3 24 | 19.5% | 21.6% | ||
| Q2 24 | 21.6% | 24.0% | ||
| Q1 24 | — | 22.8% |
净利率FUNRBC
| Q4 25 | -14.2% | 14.6% | ||
| Q3 25 | -90.1% | 13.2% | ||
| Q2 25 | -10.7% | 15.7% | ||
| Q1 25 | -108.7% | 16.6% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | 8.2% | 13.6% | ||
| Q2 24 | 9.7% | 15.1% | ||
| Q1 24 | — | — |
每股收益（稀释后）FUNRBC
| Q4 25 | $-0.93 | $2.13 | ||
| Q3 25 | $-11.77 | $1.90 | ||
| Q2 25 | $-0.99 | $2.17 | ||
| Q1 25 | $-2.20 | $2.33 | ||
| Q4 24 | — | $1.82 | ||
| Q3 24 | $1.10 | $1.65 | ||
| Q2 24 | — | $1.90 | ||
| Q1 24 | — | $1.92 |
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 | $107.6M |
| 总债务越低越好 | $5.2B | $990.2M |
| 股东权益账面价值 | $549.8M | $3.3B |
| 总资产 | $7.8B | $5.1B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.30× |
8季度趋势，按日历期对齐
现金及短期投资FUNRBC
| Q4 25 | $91.1M | $107.6M | ||
| Q3 25 | $70.7M | $91.2M | ||
| Q2 25 | $107.4M | $132.9M | ||
| Q1 25 | $61.5M | $36.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | $89.7M | — | ||
| Q2 24 | $52.9M | $76.8M | ||
| Q1 24 | — | $63.5M |
总债务FUNRBC
| Q4 25 | $5.2B | $990.2M | ||
| Q3 25 | $5.0B | $1.1B | ||
| Q2 25 | $5.3B | $915.6M | ||
| Q1 25 | $5.0B | $920.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | — | $1.2B |
股东权益FUNRBC
| Q4 25 | $549.8M | $3.3B | ||
| Q3 25 | $614.3M | $3.2B | ||
| Q2 25 | $1.8B | $3.1B | ||
| Q1 25 | $1.8B | $3.0B | ||
| Q4 24 | — | $2.9B | ||
| Q3 24 | $2.3B | $2.9B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.8B |
总资产FUNRBC
| Q4 25 | $7.8B | $5.1B | ||
| Q3 25 | $7.9B | $5.1B | ||
| Q2 25 | $9.5B | $4.8B | ||
| Q1 25 | $9.2B | $4.7B | ||
| Q4 24 | — | $4.7B | ||
| Q3 24 | $9.4B | $4.7B | ||
| Q2 24 | $2.3B | $4.7B | ||
| Q1 24 | — | $4.7B |
负债/权益比FUNRBC
| Q4 25 | 9.40× | 0.30× | ||
| Q3 25 | 8.16× | 0.34× | ||
| Q2 25 | 2.97× | 0.29× | ||
| Q1 25 | 2.75× | 0.30× | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.95× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.43× |
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 | $122.1M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $99.1M |
| 自由现金流率自由现金流/营收 | -16.8% | 21.5% |
| 资本支出强度资本支出/营收 | 11.0% | 5.0% |
| 现金转化率经营现金流/净利润 | — | 1.81× |
| 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FUNRBC
| Q4 25 | $-37.7M | $122.1M | ||
| Q3 25 | $356.2M | $88.4M | ||
| Q2 25 | $187.0M | $120.0M | ||
| Q1 25 | $-178.0M | — | ||
| Q4 24 | — | $84.0M | ||
| Q3 24 | $337.4M | — | ||
| Q2 24 | — | $97.4M | ||
| Q1 24 | — | — |
自由现金流FUNRBC
| Q4 25 | $-109.3M | $99.1M | ||
| Q3 25 | $256.2M | $71.7M | ||
| Q2 25 | $18.8M | $104.3M | ||
| Q1 25 | $-318.0M | — | ||
| Q4 24 | — | $73.6M | ||
| Q3 24 | $227.7M | — | ||
| Q2 24 | — | $88.4M | ||
| Q1 24 | — | — |
自由现金流率FUNRBC
| Q4 25 | -16.8% | 21.5% | ||
| Q3 25 | 19.4% | 15.7% | ||
| Q2 25 | 2.0% | 23.9% | ||
| Q1 25 | -157.4% | — | ||
| Q4 24 | — | 18.7% | ||
| Q3 24 | 16.9% | — | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | — |
资本支出强度FUNRBC
| Q4 25 | 11.0% | 5.0% | ||
| Q3 25 | 7.6% | 3.7% | ||
| Q2 25 | 18.1% | 3.6% | ||
| Q1 25 | 69.3% | 3.2% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 8.1% | 4.1% | ||
| Q2 24 | — | 2.2% | ||
| Q1 24 | — | — |
现金转化率FUNRBC
| Q4 25 | — | 1.81× | ||
| Q3 25 | — | 1.47× | ||
| Q2 25 | — | 1.75× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | 3.04× | — | ||
| Q2 24 | — | 1.59× | ||
| 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% |
RBC
| Domestic | $413.3M | 90% |
| Foreign | $48.3M | 10% |
