vs
六旗（FUN）与思佳讯（SWKS）财务数据对比。点击上方公司名可切换其他公司
思佳讯的季度营收约是六旗的1.6倍（$1.0B vs $650.1M），思佳讯净利率更高（7.6% vs -14.2%，领先21.9%），思佳讯自由现金流更多（$339.0M 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。
思佳讯是总部位于美国加利福尼亚州尔湾的半导体企业，公司股票在纳斯达克全球精选市场挂牌交易，股票代码为SWKS，同时也是标普500指数的成分股之一，在全球射频半导体领域拥有较高市场地位。
FUN vs SWKS — 直观对比
营收规模更大
SWKS
是对方的1.6倍
$650.1M
净利率更高
SWKS
高出21.9%
-14.2%
自由现金流更多
SWKS
多$448.3M
$-109.3M
损益表 — Q4 FY2025 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $1.0B |
| 净利润 | $-92.4M | $79.2M |
| 毛利率 | 91.4% | 41.3% |
| 营业利润率 | -3.8% | 10.0% |
| 净利率 | -14.2% | 7.6% |
| 营收同比 | — | 8.6% |
| 净利润同比 | — | 15.3% |
| 每股收益（稀释后） | $-0.93 | $0.53 |
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FUNSWKS
| Q1 26 | — | $1.0B | ||
| Q4 25 | $650.1M | $1.1B | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $930.4M | $965.0M | ||
| Q1 25 | $202.1M | $953.2M | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $1.3B | $1.0B | ||
| Q2 24 | $571.6M | $905.5M |
净利润FUNSWKS
| Q1 26 | — | $79.2M | ||
| Q4 25 | $-92.4M | $141.4M | ||
| Q3 25 | $-1.2B | — | ||
| Q2 25 | $-99.6M | $105.0M | ||
| Q1 25 | $-219.7M | $68.7M | ||
| Q4 24 | — | $162.0M | ||
| Q3 24 | $111.0M | $60.5M | ||
| Q2 24 | $55.6M | $120.9M |
毛利率FUNSWKS
| Q1 26 | — | 41.3% | ||
| Q4 25 | 91.4% | 40.7% | ||
| Q3 25 | 91.6% | — | ||
| Q2 25 | 91.3% | 41.6% | ||
| Q1 25 | 89.3% | 41.1% | ||
| Q4 24 | — | 41.4% | ||
| Q3 24 | 91.9% | 41.9% | ||
| Q2 24 | 90.7% | 40.2% |
营业利润率FUNSWKS
| Q1 26 | — | 10.0% | ||
| Q4 25 | -3.8% | 10.1% | ||
| Q3 25 | -83.7% | — | ||
| Q2 25 | 8.0% | 11.5% | ||
| Q1 25 | -158.9% | 10.2% | ||
| Q4 24 | — | 16.9% | ||
| Q3 24 | 19.5% | 5.8% | ||
| Q2 24 | 21.6% | 14.4% |
净利率FUNSWKS
| Q1 26 | — | 7.6% | ||
| Q4 25 | -14.2% | 12.9% | ||
| Q3 25 | -90.1% | — | ||
| Q2 25 | -10.7% | 10.9% | ||
| Q1 25 | -108.7% | 7.2% | ||
| Q4 24 | — | 15.2% | ||
| Q3 24 | 8.2% | 5.9% | ||
| Q2 24 | 9.7% | 13.4% |
每股收益（稀释后）FUNSWKS
| Q1 26 | — | $0.53 | ||
| Q4 25 | $-0.93 | $0.95 | ||
| Q3 25 | $-11.77 | — | ||
| Q2 25 | $-0.99 | $0.70 | ||
| Q1 25 | $-2.20 | $0.43 | ||
| Q4 24 | — | $1.00 | ||
| Q3 24 | $1.10 | $0.36 | ||
| Q2 24 | — | $0.75 |
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 | $1.6B |
| 总债务越低越好 | $5.2B | $496.6M |
| 股东权益账面价值 | $549.8M | $5.8B |
| 总资产 | $7.8B | $7.9B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.09× |
8季度趋势，按日历期对齐
现金及短期投资FUNSWKS
| Q1 26 | — | $1.6B | ||
| Q4 25 | $91.1M | $1.4B | ||
| Q3 25 | $70.7M | — | ||
| Q2 25 | $107.4M | $1.3B | ||
| Q1 25 | $61.5M | $1.5B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $89.7M | $1.6B | ||
| Q2 24 | $52.9M | $1.3B |
总债务FUNSWKS
| Q1 26 | — | $496.6M | ||
| Q4 25 | $5.2B | $496.4M | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | $496.2M | ||
| Q1 25 | $5.0B | $995.1M | ||
| Q4 24 | — | $994.7M | ||
| Q3 24 | $4.6B | $994.3M | ||
| Q2 24 | $2.3B | $994.0M |
股东权益FUNSWKS
| Q1 26 | — | $5.8B | ||
| Q4 25 | $549.8M | $5.8B | ||
| Q3 25 | $614.3M | — | ||
| Q2 25 | $1.8B | $5.7B | ||
| Q1 25 | $1.8B | $5.9B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | $2.3B | $6.3B | ||
| Q2 24 | — | $6.3B |
总资产FUNSWKS
| Q1 26 | — | $7.9B | ||
| Q4 25 | $7.8B | $7.9B | ||
| Q3 25 | $7.9B | — | ||
| Q2 25 | $9.5B | $7.7B | ||
| Q1 25 | $9.2B | $7.9B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | $9.4B | $8.3B | ||
| Q2 24 | $2.3B | $8.2B |
负债/权益比FUNSWKS
| Q1 26 | — | 0.09× | ||
| Q4 25 | 9.40× | 0.09× | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | 0.09× | ||
| Q1 25 | 2.75× | 0.17× | ||
| Q4 24 | — | 0.16× | ||
| Q3 24 | 1.95× | 0.16× | ||
| Q2 24 | — | 0.16× |
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 | $395.5M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $339.0M |
| 自由现金流率自由现金流/营收 | -16.8% | 32.7% |
| 资本支出强度资本支出/营收 | 11.0% | 5.5% |
| 现金转化率经营现金流/净利润 | — | 4.99× |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $1.1B |
8季度趋势，按日历期对齐
经营现金流FUNSWKS
| Q1 26 | — | $395.5M | ||
| Q4 25 | $-37.7M | $200.0M | ||
| Q3 25 | $356.2M | — | ||
| Q2 25 | $187.0M | $314.2M | ||
| Q1 25 | $-178.0M | $409.4M | ||
| Q4 24 | — | $377.2M | ||
| Q3 24 | $337.4M | $476.1M | ||
| Q2 24 | — | $273.4M |
自由现金流FUNSWKS
| Q1 26 | — | $339.0M | ||
| Q4 25 | $-109.3M | $144.0M | ||
| Q3 25 | $256.2M | — | ||
| Q2 25 | $18.8M | $252.7M | ||
| Q1 25 | $-318.0M | $370.9M | ||
| Q4 24 | — | $338.2M | ||
| Q3 24 | $227.7M | $393.3M | ||
| Q2 24 | — | $249.0M |
自由现金流率FUNSWKS
| Q1 26 | — | 32.7% | ||
| Q4 25 | -16.8% | 13.1% | ||
| Q3 25 | 19.4% | — | ||
| Q2 25 | 2.0% | 26.2% | ||
| Q1 25 | -157.4% | 38.9% | ||
| Q4 24 | — | 31.7% | ||
| Q3 24 | 16.9% | 38.4% | ||
| Q2 24 | — | 27.5% |
资本支出强度FUNSWKS
| Q1 26 | — | 5.5% | ||
| Q4 25 | 11.0% | 5.1% | ||
| Q3 25 | 7.6% | — | ||
| Q2 25 | 18.1% | 6.4% | ||
| Q1 25 | 69.3% | 4.0% | ||
| Q4 24 | — | 3.6% | ||
| Q3 24 | 8.1% | 8.1% | ||
| Q2 24 | — | 2.7% |
现金转化率FUNSWKS
| Q1 26 | — | 4.99× | ||
| Q4 25 | — | 1.41× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.99× | ||
| Q1 25 | — | 5.96× | ||
| Q4 24 | — | 2.33× | ||
| Q3 24 | 3.04× | 7.87× | ||
| Q2 24 | — | 2.26× |
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% |
SWKS
| Sales Channel Through Intermediary | $915.6M | 88% |
| Sales Channel Directly To Consumer | $119.8M | 12% |
