vs
六旗（FUN）与Spectrum Brands Holdings, Inc.（SPB）财务数据对比。点击上方公司名可切换其他公司
Spectrum Brands Holdings, Inc.的季度营收约是六旗的1.0倍（$677.0M vs $650.1M），Spectrum Brands Holdings, Inc.净利率更高（4.2% vs -14.2%，领先18.4%），Spectrum Brands Holdings, Inc.自由现金流更多（$59.3M 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。
盛谱品牌控股有限公司是总部位于美国威斯康星州米德尔顿的跨国消费品集团，前身为雷诺瓦克公司，2005年正式成立，业务覆盖多个消费品品类，在全球消费市场拥有广泛布局。
FUN vs SPB — 直观对比
营收规模更大
SPB
是对方的1.0倍
$650.1M
净利率更高
SPB
高出18.4%
-14.2%
自由现金流更多
SPB
多$168.6M
$-109.3M
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $677.0M |
| 净利润 | $-92.4M | $28.4M |
| 毛利率 | 91.4% | 35.7% |
| 营业利润率 | -3.8% | 4.0% |
| 净利率 | -14.2% | 4.2% |
| 营收同比 | — | -3.3% |
| 净利润同比 | — | 20.9% |
| 每股收益（稀释后） | $-0.93 | $1.21 |
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FUNSPB
| Q4 25 | $650.1M | $677.0M | ||
| Q3 25 | $1.3B | $733.5M | ||
| Q2 25 | $930.4M | $699.6M | ||
| Q1 25 | $202.1M | $675.7M | ||
| Q4 24 | — | $700.2M | ||
| Q3 24 | $1.3B | $773.8M | ||
| Q2 24 | $571.6M | $779.4M | ||
| Q1 24 | — | $718.5M |
净利润FUNSPB
| Q4 25 | $-92.4M | $28.4M | ||
| Q3 25 | $-1.2B | $55.6M | ||
| Q2 25 | $-99.6M | $19.9M | ||
| Q1 25 | $-219.7M | $900.0K | ||
| Q4 24 | — | $23.5M | ||
| Q3 24 | $111.0M | $28.5M | ||
| Q2 24 | $55.6M | $6.1M | ||
| Q1 24 | — | $61.1M |
毛利率FUNSPB
| Q4 25 | 91.4% | 35.7% | ||
| Q3 25 | 91.6% | 35.0% | ||
| Q2 25 | 91.3% | 37.8% | ||
| Q1 25 | 89.3% | 37.5% | ||
| Q4 24 | — | 36.8% | ||
| Q3 24 | 91.9% | 37.2% | ||
| Q2 24 | 90.7% | 38.9% | ||
| Q1 24 | — | 38.1% |
营业利润率FUNSPB
| Q4 25 | -3.8% | 4.0% | ||
| Q3 25 | -83.7% | 4.0% | ||
| Q2 25 | 8.0% | 4.5% | ||
| Q1 25 | -158.9% | 2.9% | ||
| Q4 24 | — | 6.4% | ||
| Q3 24 | 19.5% | 2.8% | ||
| Q2 24 | 21.6% | 6.1% | ||
| Q1 24 | — | 10.6% |
净利率FUNSPB
| Q4 25 | -14.2% | 4.2% | ||
| Q3 25 | -90.1% | 7.6% | ||
| Q2 25 | -10.7% | 2.8% | ||
| Q1 25 | -108.7% | 0.1% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 8.2% | 3.7% | ||
| Q2 24 | 9.7% | 0.8% | ||
| Q1 24 | — | 8.5% |
每股收益（稀释后）FUNSPB
| Q4 25 | $-0.93 | $1.21 | ||
| Q3 25 | $-11.77 | $2.19 | ||
| Q2 25 | $-0.99 | $0.80 | ||
| Q1 25 | $-2.20 | $0.03 | ||
| Q4 24 | — | $0.84 | ||
| Q3 24 | $1.10 | $1.03 | ||
| Q2 24 | — | $0.21 | ||
| Q1 24 | — | $2.01 |
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 | $126.6M |
| 总债务越低越好 | $5.2B | — |
| 股东权益账面价值 | $549.8M | $1.9B |
| 总资产 | $7.8B | $3.4B |
| 负债/权益比越低杠杆越低 | 9.40× | — |
8季度趋势，按日历期对齐
现金及短期投资FUNSPB
| Q4 25 | $91.1M | $126.6M | ||
| Q3 25 | $70.7M | $123.6M | ||
| Q2 25 | $107.4M | $122.0M | ||
| Q1 25 | $61.5M | $96.0M | ||
| Q4 24 | — | $179.9M | ||
| Q3 24 | $89.7M | $368.9M | ||
| Q2 24 | $52.9M | $306.8M | ||
| Q1 24 | — | $1.2B |
总债务FUNSPB
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.0B | $496.1M | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $4.6B | $496.1M | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | — | — |
股东权益FUNSPB
| Q4 25 | $549.8M | $1.9B | ||
| Q3 25 | $614.3M | $1.9B | ||
| Q2 25 | $1.8B | $1.9B | ||
| Q1 25 | $1.8B | $1.9B | ||
| Q4 24 | — | $2.0B | ||
| Q3 24 | $2.3B | $2.1B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.3B |
总资产FUNSPB
| Q4 25 | $7.8B | $3.4B | ||
| Q3 25 | $7.9B | $3.4B | ||
| Q2 25 | $9.5B | $3.5B | ||
| Q1 25 | $9.2B | $3.5B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | $9.4B | $3.8B | ||
| Q2 24 | $2.3B | $3.8B | ||
| Q1 24 | — | $4.8B |
负债/权益比FUNSPB
| Q4 25 | 9.40× | — | ||
| Q3 25 | 8.16× | 0.26× | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.95× | 0.23× | ||
| Q2 24 | — | — | ||
| Q1 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 | $-37.7M | $67.4M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $59.3M |
| 自由现金流率自由现金流/营收 | -16.8% | 8.8% |
| 资本支出强度资本支出/营收 | 11.0% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 2.37× |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $302.9M |
8季度趋势，按日历期对齐
经营现金流FUNSPB
| Q4 25 | $-37.7M | $67.4M | ||
| Q3 25 | $356.2M | $171.1M | ||
| Q2 25 | $187.0M | $81.8M | ||
| Q1 25 | $-178.0M | $23.1M | ||
| Q4 24 | — | $-72.4M | ||
| Q3 24 | $337.4M | $80.7M | ||
| Q2 24 | — | $82.7M | ||
| Q1 24 | — | $3.5M |
自由现金流FUNSPB
| Q4 25 | $-109.3M | $59.3M | ||
| Q3 25 | $256.2M | $157.9M | ||
| Q2 25 | $18.8M | $71.8M | ||
| Q1 25 | $-318.0M | $13.9M | ||
| Q4 24 | — | $-78.3M | ||
| Q3 24 | $227.7M | $67.7M | ||
| Q2 24 | — | $72.6M | ||
| Q1 24 | — | $-9.0M |
自由现金流率FUNSPB
| Q4 25 | -16.8% | 8.8% | ||
| Q3 25 | 19.4% | 21.5% | ||
| Q2 25 | 2.0% | 10.3% | ||
| Q1 25 | -157.4% | 2.1% | ||
| Q4 24 | — | -11.2% | ||
| Q3 24 | 16.9% | 8.7% | ||
| Q2 24 | — | 9.3% | ||
| Q1 24 | — | -1.3% |
资本支出强度FUNSPB
| Q4 25 | 11.0% | 1.2% | ||
| Q3 25 | 7.6% | 1.8% | ||
| Q2 25 | 18.1% | 1.4% | ||
| Q1 25 | 69.3% | 1.4% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | 8.1% | 1.7% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 1.7% |
现金转化率FUNSPB
| Q4 25 | — | 2.37× | ||
| Q3 25 | — | 3.08× | ||
| Q2 25 | — | 4.11× | ||
| Q1 25 | — | 25.67× | ||
| Q4 24 | — | -3.08× | ||
| Q3 24 | 3.04× | 2.83× | ||
| Q2 24 | — | 13.56× | ||
| Q1 24 | — | 0.06× |
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% |
SPB
| HPC Segment | $321.5M | 47% |
| Global Pet Supplies | $168.7M | 25% |
| Home And Personal Care | $109.8M | 16% |
| HG Segment | $73.9M | 11% |
