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六旗（FUN）与STEWART INFORMATION SERVICES CORP（STC）财务数据对比。点击上方公司名可切换其他公司
STEWART INFORMATION SERVICES CORP的季度营收约是六旗的1.2倍（$764.6M vs $650.1M），STEWART INFORMATION SERVICES CORP净利率更高（2.2% vs -14.2%，领先16.4%）
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。
斯图尔特信息服务公司（STC）是一家主营房地产信息、产权保险及交易管理服务的企业，旗下全资子公司斯图尔特产权担保公司、斯图尔特产权公司通过直营网点、斯图尔特可信供应商网络内的独立代理机构及合作企业，为美国及全球市场提供相关产品与服务，总部位于得克萨斯州休斯敦，现有员工约6350人。
FUN vs STC — 直观对比
营收规模更大
STC
是对方的1.2倍
$650.1M
净利率更高
STC
高出16.4%
-14.2%
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $764.6M |
| 净利润 | $-92.4M | $17.0M |
| 毛利率 | 91.4% | — |
| 营业利润率 | -3.8% | — |
| 净利率 | -14.2% | 2.2% |
| 营收同比 | — | 27.7% |
| 净利润同比 | — | 448.4% |
| 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FUNSTC
| Q1 26 | — | $764.6M | ||
| Q4 25 | $650.1M | $790.6M | ||
| Q3 25 | $1.3B | $796.9M | ||
| Q2 25 | $930.4M | $722.2M | ||
| Q1 25 | $202.1M | $612.0M | ||
| Q4 24 | — | $665.9M | ||
| Q3 24 | $1.3B | $667.9M | ||
| Q2 24 | $571.6M | $602.2M |
净利润FUNSTC
| Q1 26 | — | $17.0M | ||
| Q4 25 | $-92.4M | $36.3M | ||
| Q3 25 | $-1.2B | $44.3M | ||
| Q2 25 | $-99.6M | $31.9M | ||
| Q1 25 | $-219.7M | $3.1M | ||
| Q4 24 | — | $22.7M | ||
| Q3 24 | $111.0M | $30.1M | ||
| Q2 24 | $55.6M | $17.3M |
毛利率FUNSTC
| 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FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | 6.5% | ||
| Q3 25 | -83.7% | 7.7% | ||
| Q2 25 | 8.0% | 6.5% | ||
| Q1 25 | -158.9% | 1.0% | ||
| Q4 24 | — | 5.3% | ||
| Q3 24 | 19.5% | 6.4% | ||
| Q2 24 | 21.6% | 4.8% |
净利率FUNSTC
| Q1 26 | — | 2.2% | ||
| Q4 25 | -14.2% | 4.6% | ||
| Q3 25 | -90.1% | 5.6% | ||
| Q2 25 | -10.7% | 4.4% | ||
| Q1 25 | -108.7% | 0.5% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | 8.2% | 4.5% | ||
| Q2 24 | 9.7% | 2.9% |
每股收益（稀释后）FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $1.26 | ||
| Q3 25 | $-11.77 | $1.55 | ||
| Q2 25 | $-0.99 | $1.13 | ||
| Q1 25 | $-2.20 | $0.11 | ||
| Q4 24 | — | $0.81 | ||
| Q3 24 | $1.10 | $1.07 | ||
| Q2 24 | — | $0.62 |
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 | $317.5M |
| 总债务越低越好 | $5.2B | — |
| 股东权益账面价值 | $549.8M | — |
| 总资产 | $7.8B | — |
| 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FUNSTC
| Q1 26 | — | $317.5M | ||
| Q4 25 | $91.1M | $369.7M | ||
| Q3 25 | $70.7M | $233.2M | ||
| Q2 25 | $107.4M | $223.8M | ||
| Q1 25 | $61.5M | $194.2M | ||
| Q4 24 | — | $257.5M | ||
| Q3 24 | $89.7M | $228.7M | ||
| Q2 24 | $52.9M | $176.7M |
总债务FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | $445.8M | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — |
股东权益FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | $549.8M | $1.6B | ||
| Q3 25 | $614.3M | $1.5B | ||
| Q2 25 | $1.8B | $1.4B | ||
| Q1 25 | $1.8B | $1.4B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | $2.3B | $1.4B | ||
| Q2 24 | — | $1.4B |
总资产FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | $7.8B | $3.3B | ||
| Q3 25 | $7.9B | $2.8B | ||
| Q2 25 | $9.5B | $2.8B | ||
| Q1 25 | $9.2B | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | $9.4B | $2.7B | ||
| Q2 24 | $2.3B | $2.6B |
负债/权益比FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | — | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | 0.32× | ||
| 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 | $-37.7M | — |
| 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 | — | — |
| 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FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $89.5M | ||
| Q3 25 | $356.2M | $92.6M | ||
| Q2 25 | $187.0M | $53.4M | ||
| Q1 25 | $-178.0M | $-29.9M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | $337.4M | $76.1M | ||
| Q2 24 | — | $21.1M |
自由现金流FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $62.3M | ||
| Q3 25 | $256.2M | $73.6M | ||
| Q2 25 | $18.8M | $38.7M | ||
| Q1 25 | $-318.0M | $-42.2M | ||
| Q4 24 | — | $55.6M | ||
| Q3 24 | $227.7M | $67.4M | ||
| Q2 24 | — | $11.9M |
自由现金流率FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | 7.9% | ||
| Q3 25 | 19.4% | 9.2% | ||
| Q2 25 | 2.0% | 5.4% | ||
| Q1 25 | -157.4% | -6.9% | ||
| Q4 24 | — | 8.4% | ||
| Q3 24 | 16.9% | 10.1% | ||
| Q2 24 | — | 2.0% |
资本支出强度FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 3.4% | ||
| Q3 25 | 7.6% | 2.4% | ||
| Q2 25 | 18.1% | 2.0% | ||
| Q1 25 | 69.3% | 2.0% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | 8.1% | 1.3% | ||
| Q2 24 | — | 1.5% |
现金转化率FUNSTC
| Q1 26 | — | — | ||
| Q4 25 | — | 2.47× | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | — | 1.67× | ||
| Q1 25 | — | -9.73× | ||
| Q4 24 | — | 2.99× | ||
| Q3 24 | 3.04× | 2.53× | ||
| Q2 24 | — | 1.22× |
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% |
STC
| Agency title | $333.0M | 44% |
| Direct title | $270.2M | 35% |
| Real estate solutions | $161.4M | 21% |
