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六旗（FUN）与Regency Centers（REG）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Regency Centers的1.6倍（$650.1M vs $404.2M），Regency Centers净利率更高（50.1% vs -14.2%，领先64.3%）
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。
Regency Centers是总部位于美国佛罗里达州杰克逊维尔的房地产投资信托基金，也是以超市为核心租户的大型购物中心运营商之一。截至2020年10月21日，公司共持有415处物业，总建筑面积达5600万平方英尺，知名资产包括Serramonte Center及Village District 30%的股权。
FUN vs REG — 直观对比
营收规模更大
FUN
是对方的1.6倍
$404.2M
净利率更高
REG
高出64.3%
-14.2%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $404.2M |
| 净利润 | $-92.4M | $202.5M |
| 毛利率 | 91.4% | — |
| 营业利润率 | -3.8% | 71.0% |
| 净利率 | -14.2% | 50.1% |
| 营收同比 | — | 8.5% |
| 净利润同比 | — | 134.1% |
| 每股收益（稀释后） | $-0.93 | — |
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FUNREG
| Q4 25 | $650.1M | $404.2M | ||
| Q3 25 | $1.3B | $387.6M | ||
| Q2 25 | $930.4M | $380.8M | ||
| Q1 25 | $202.1M | $380.9M | ||
| Q4 24 | — | $372.5M | ||
| Q3 24 | $1.3B | $360.3M | ||
| Q2 24 | $571.6M | $357.3M | ||
| Q1 24 | — | $363.9M |
净利润FUNREG
| Q4 25 | $-92.4M | $202.5M | ||
| Q3 25 | $-1.2B | $109.4M | ||
| Q2 25 | $-99.6M | $106.0M | ||
| Q1 25 | $-219.7M | $109.6M | ||
| Q4 24 | — | $86.5M | ||
| Q3 24 | $111.0M | $101.5M | ||
| Q2 24 | $55.6M | $102.7M | ||
| Q1 24 | — | $109.8M |
毛利率FUNREG
| 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FUNREG
| Q4 25 | -3.8% | 71.0% | ||
| Q3 25 | -83.7% | 72.7% | ||
| Q2 25 | 8.0% | 73.8% | ||
| Q1 25 | -158.9% | 71.8% | ||
| Q4 24 | — | 71.1% | ||
| Q3 24 | 19.5% | 72.5% | ||
| Q2 24 | 21.6% | 72.3% | ||
| Q1 24 | — | 72.3% |
净利率FUNREG
| Q4 25 | -14.2% | 50.1% | ||
| Q3 25 | -90.1% | 28.2% | ||
| Q2 25 | -10.7% | 27.8% | ||
| Q1 25 | -108.7% | 28.8% | ||
| Q4 24 | — | 23.2% | ||
| Q3 24 | 8.2% | 28.2% | ||
| Q2 24 | 9.7% | 28.7% | ||
| Q1 24 | — | 30.2% |
每股收益（稀释后）FUNREG
| Q4 25 | $-0.93 | — | ||
| Q3 25 | $-11.77 | — | ||
| Q2 25 | $-0.99 | — | ||
| Q1 25 | $-2.20 | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.10 | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | — |
| 总债务越低越好 | $5.2B | $4.7B |
| 股东权益账面价值 | $549.8M | $6.9B |
| 总资产 | $7.8B | $13.0B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.69× |
8季度趋势，按日历期对齐
现金及短期投资FUNREG
| Q4 25 | $91.1M | — | ||
| Q3 25 | $70.7M | — | ||
| Q2 25 | $107.4M | — | ||
| Q1 25 | $61.5M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $89.7M | — | ||
| Q2 24 | $52.9M | — | ||
| Q1 24 | — | — |
总债务FUNREG
| Q4 25 | $5.2B | $4.7B | ||
| Q3 25 | $5.0B | $4.9B | ||
| Q2 25 | $5.3B | $4.8B | ||
| Q1 25 | $5.0B | $4.6B | ||
| Q4 24 | — | $4.4B | ||
| Q3 24 | $4.6B | $4.4B | ||
| Q2 24 | $2.3B | $4.4B | ||
| Q1 24 | — | $4.4B |
股东权益FUNREG
| Q4 25 | $549.8M | $6.9B | ||
| Q3 25 | $614.3M | $6.8B | ||
| Q2 25 | $1.8B | $6.7B | ||
| Q1 25 | $1.8B | $6.7B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | $2.3B | $6.8B | ||
| Q2 24 | — | $6.8B | ||
| Q1 24 | — | $7.0B |
总资产FUNREG
| Q4 25 | $7.8B | $13.0B | ||
| Q3 25 | $7.9B | $13.1B | ||
| Q2 25 | $9.5B | $12.7B | ||
| Q1 25 | $9.2B | $12.6B | ||
| Q4 24 | — | $12.4B | ||
| Q3 24 | $9.4B | $12.4B | ||
| Q2 24 | $2.3B | $12.4B | ||
| Q1 24 | — | $12.7B |
负债/权益比FUNREG
| Q4 25 | 9.40× | 0.69× | ||
| Q3 25 | 8.16× | 0.72× | ||
| Q2 25 | 2.97× | 0.72× | ||
| Q1 25 | 2.75× | 0.69× | ||
| Q4 24 | — | 0.66× | ||
| Q3 24 | 1.95× | 0.65× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.63× |
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 | $203.9M |
| 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 | — | 1.01× |
| 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FUNREG
| Q4 25 | $-37.7M | $203.9M | ||
| Q3 25 | $356.2M | $218.7M | ||
| Q2 25 | $187.0M | $244.0M | ||
| Q1 25 | $-178.0M | $161.0M | ||
| Q4 24 | — | $191.4M | ||
| Q3 24 | $337.4M | $227.6M | ||
| Q2 24 | — | $203.5M | ||
| Q1 24 | — | $167.8M |
自由现金流FUNREG
| 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FUNREG
| 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FUNREG
| 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FUNREG
| Q4 25 | — | 1.01× | ||
| Q3 25 | — | 2.00× | ||
| Q2 25 | — | 2.30× | ||
| Q1 25 | — | 1.47× | ||
| Q4 24 | — | 2.21× | ||
| Q3 24 | 3.04× | 2.24× | ||
| Q2 24 | — | 1.98× | ||
| Q1 24 | — | 1.53× |
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% |
REG
| Shopping Centers | $418.0M | 103% |
| Propertymanagementservices | $4.1M | 1% |
| Assetmanagementservices | $1.7M | 0% |
