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六旗（FUN）与Summit Midstream Corp（SMC）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Summit Midstream Corp的1.6倍（$225.6M vs $142.3M），Summit Midstream Corp净利率更高（-5.1% vs -119.0%，领先113.9%）
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。
Summit Midstream Corp是一家北美中游能源企业，为上游油气生产商提供天然气与原油收集管道、压缩设施及采出水处理等基础设施服务，运营资产主要分布于美国多个核心陆上油气资源盆地。
FUN vs SMC — 直观对比
营收规模更大
FUN
是对方的1.6倍
$142.3M
净利率更高
SMC
高出113.9%
-119.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $142.3M |
| 净利润 | $-268.6M | $-7.3M |
| 毛利率 | — | 72.1% |
| 营业利润率 | — | -5.5% |
| 净利率 | -119.0% | -5.1% |
| 营收同比 | 11.7% | — |
| 净利润同比 | -22.2% | — |
| 每股收益（稀释后） | — | $-0.66 |
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FUNSMC
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $142.3M | ||
| Q3 25 | $1.3B | $146.9M | ||
| Q2 25 | $930.4M | $140.2M | ||
| Q1 25 | $202.1M | $132.7M | ||
| Q3 24 | $1.3B | $102.4M | ||
| Q2 24 | $571.6M | — |
净利润FUNSMC
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $-7.3M | ||
| Q3 25 | $-1.2B | $-1.6M | ||
| Q2 25 | $-99.6M | $-8.0M | ||
| Q1 25 | $-219.7M | $2.0M | ||
| Q3 24 | $111.0M | $-204.9M | ||
| Q2 24 | $55.6M | — |
毛利率FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | 72.1% | ||
| Q3 25 | 91.6% | 74.0% | ||
| Q2 25 | 91.3% | 74.4% | ||
| Q1 25 | 89.3% | 73.3% | ||
| Q3 24 | 91.9% | 72.4% | ||
| Q2 24 | 90.7% | — |
营业利润率FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | -5.5% | ||
| Q3 25 | -83.7% | 3.8% | ||
| Q2 25 | 8.0% | -3.6% | ||
| Q1 25 | -158.9% | 3.7% | ||
| Q3 24 | 19.5% | -53.7% | ||
| Q2 24 | 21.6% | — |
净利率FUNSMC
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | -5.1% | ||
| Q3 25 | -90.1% | -1.1% | ||
| Q2 25 | -10.7% | -5.7% | ||
| Q1 25 | -108.7% | 1.5% | ||
| Q3 24 | 8.2% | -200.1% | ||
| Q2 24 | 9.7% | — |
每股收益（稀释后）FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $-0.66 | ||
| Q3 25 | $-11.77 | $-0.13 | ||
| Q2 25 | $-0.99 | $-0.66 | ||
| Q1 25 | $-2.20 | $-0.16 | ||
| Q3 24 | $1.10 | $-19.25 | ||
| Q2 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 | $116.5M | $9.3M |
| 总债务越低越好 | — | $1.0B |
| 股东权益账面价值 | $279.2M | $546.2M |
| 总资产 | $7.7B | $2.4B |
| 负债/权益比越低杠杆越低 | — | 1.91× |
8季度趋势，按日历期对齐
现金及短期投资FUNSMC
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | $9.3M | ||
| Q3 25 | $70.7M | $24.6M | ||
| Q2 25 | $107.4M | $20.9M | ||
| Q1 25 | $61.5M | $26.2M | ||
| Q3 24 | $89.7M | $17.8M | ||
| Q2 24 | $52.9M | — |
总债务FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | $1.0B | ||
| Q3 25 | $5.0B | $1.1B | ||
| Q2 25 | $5.3B | $1.1B | ||
| Q1 25 | $5.0B | $1.1B | ||
| Q3 24 | $4.6B | $957.0M | ||
| Q2 24 | $2.3B | — |
股东权益FUNSMC
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $546.2M | ||
| Q3 25 | $614.3M | $551.9M | ||
| Q2 25 | $1.8B | $552.0M | ||
| Q1 25 | $1.8B | $558.1M | ||
| Q3 24 | $2.3B | $651.5M | ||
| Q2 24 | — | — |
总资产FUNSMC
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $2.4B | ||
| Q3 25 | $7.9B | $2.4B | ||
| Q2 25 | $9.5B | $2.4B | ||
| Q1 25 | $9.2B | $2.4B | ||
| Q3 24 | $9.4B | $2.0B | ||
| Q2 24 | $2.3B | — |
负债/权益比FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | 1.91× | ||
| Q3 25 | 8.16× | 1.96× | ||
| Q2 25 | 2.97× | 1.95× | ||
| Q1 25 | 2.75× | 1.94× | ||
| Q3 24 | 1.95× | 1.47× | ||
| 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 | — | $53.7M |
| 自由现金流经营现金流 - 资本支出 | — | $34.5M |
| 自由现金流率自由现金流/营收 | — | 24.3% |
| 资本支出强度资本支出/营收 | — | 13.4% |
| 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 | — | $44.6M |
8季度趋势，按日历期对齐
经营现金流FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $53.7M | ||
| Q3 25 | $356.2M | $26.7M | ||
| Q2 25 | $187.0M | $37.2M | ||
| Q1 25 | $-178.0M | $16.0M | ||
| Q3 24 | $337.4M | — | ||
| Q2 24 | — | — |
自由现金流FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $34.5M | ||
| Q3 25 | $256.2M | $3.8M | ||
| Q2 25 | $18.8M | $10.8M | ||
| Q1 25 | $-318.0M | $-4.6M | ||
| Q3 24 | $227.7M | — | ||
| Q2 24 | — | — |
自由现金流率FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | 24.3% | ||
| Q3 25 | 19.4% | 2.6% | ||
| Q2 25 | 2.0% | 7.7% | ||
| Q1 25 | -157.4% | -3.4% | ||
| Q3 24 | 16.9% | — | ||
| Q2 24 | — | — |
资本支出强度FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 13.4% | ||
| Q3 25 | 7.6% | 15.6% | ||
| Q2 25 | 18.1% | 18.8% | ||
| Q1 25 | 69.3% | 15.5% | ||
| Q3 24 | 8.1% | — | ||
| Q2 24 | — | — |
现金转化率FUNSMC
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 7.89× | ||
| 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% |
SMC
| Rockies Segment | $86.2M | 61% |
| Mid Con Barnett Shale Segment | $39.4M | 28% |
| Piceance Basin Segment | $15.8M | 11% |
