vs
六旗（FUN）与携程集团（TCOM）财务数据对比。点击上方公司名可切换其他公司
携程集团的季度营收约是六旗的1.3倍（$304.6M vs $225.6M），携程集团净利率更高（27.8% vs -119.0%，领先146.8%）
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。
携程集团是总部位于中国上海的跨国旅行服务企业，为全球最大的在线旅行服务提供商，业务覆盖机票预订、酒店预订、度假产品、商旅管理等领域，面向全球用户提供一站式旅行综合服务。
FUN vs TCOM — 直观对比
营收规模更大
TCOM
是对方的1.3倍
$225.6M
净利率更高
TCOM
高出146.8%
-119.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $304.6M |
| 净利润 | $-268.6M | $84.6M |
| 毛利率 | — | 78.8% |
| 营业利润率 | — | 16.5% |
| 净利率 | -119.0% | 27.8% |
| 营收同比 | 11.7% | — |
| 净利润同比 | -22.2% | — |
| 每股收益（稀释后） | — | $0.12 |
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FUNTCOM
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $304.6M | ||
| Q3 25 | $1.3B | — | ||
| Q2 25 | $930.4M | — | ||
| Q1 25 | $202.1M | — | ||
| Q3 24 | $1.3B | — | ||
| Q2 24 | $571.6M | $242.7M | ||
| Q2 23 | — | $214.5M |
净利润FUNTCOM
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $84.6M | ||
| Q3 25 | $-1.2B | — | ||
| Q2 25 | $-99.6M | — | ||
| Q1 25 | $-219.7M | — | ||
| Q3 24 | $111.0M | — | ||
| Q2 24 | $55.6M | $73.8M | ||
| Q2 23 | — | $12.6M |
毛利率FUNTCOM
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | 78.8% | ||
| Q3 25 | 91.6% | — | ||
| Q2 25 | 91.3% | — | ||
| Q1 25 | 89.3% | — | ||
| Q3 24 | 91.9% | — | ||
| Q2 24 | 90.7% | 81.8% | ||
| Q2 23 | — | 82.0% |
营业利润率FUNTCOM
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | 16.5% | ||
| Q3 25 | -83.7% | — | ||
| Q2 25 | 8.0% | — | ||
| Q1 25 | -158.9% | — | ||
| Q3 24 | 19.5% | — | ||
| Q2 24 | 21.6% | 27.8% | ||
| Q2 23 | — | 26.4% |
净利率FUNTCOM
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | 27.8% | ||
| Q3 25 | -90.1% | — | ||
| Q2 25 | -10.7% | — | ||
| Q1 25 | -108.7% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 9.7% | 30.4% | ||
| Q2 23 | — | 5.9% |
每股收益（稀释后）FUNTCOM
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $0.12 | ||
| Q3 25 | $-11.77 | — | ||
| Q2 25 | $-0.99 | — | ||
| Q1 25 | $-2.20 | — | ||
| Q3 24 | $1.10 | — | ||
| Q2 24 | — | $0.11 | ||
| Q2 23 | — | $0.02 |
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 | $10.8B |
| 总债务越低越好 | — | $4.2B |
| 股东权益账面价值 | $279.2M | $23.8B |
| 总资产 | $7.7B | $36.9B |
| 负债/权益比越低杠杆越低 | — | 0.18× |
8季度趋势，按日历期对齐
现金及短期投资FUNTCOM
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | $10.8B | ||
| Q3 25 | $70.7M | — | ||
| Q2 25 | $107.4M | — | ||
| Q1 25 | $61.5M | — | ||
| Q3 24 | $89.7M | — | ||
| Q2 24 | $52.9M | $12.4B | ||
| Q2 23 | — | $7.6B |
总债务FUNTCOM
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | $4.2B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | $8.2B | ||
| Q2 23 | — | $7.2B |
股东权益FUNTCOM
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $23.8B | ||
| Q3 25 | $614.3M | — | ||
| Q2 25 | $1.8B | — | ||
| Q1 25 | $1.8B | — | ||
| Q3 24 | $2.3B | — | ||
| Q2 24 | — | $18.1B | ||
| Q2 23 | — | $16.3B |
总资产FUNTCOM
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $36.9B | ||
| Q3 25 | $7.9B | — | ||
| Q2 25 | $9.5B | — | ||
| Q1 25 | $9.2B | — | ||
| Q3 24 | $9.4B | — | ||
| Q2 24 | $2.3B | $34.2B | ||
| Q2 23 | — | $30.1B |
负债/权益比FUNTCOM
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | 0.18× | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q3 24 | 1.95× | — | ||
| Q2 24 | — | 0.45× | ||
| Q2 23 | — | 0.44× |
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% |
TCOM
| Others | $273.0M | 90% |
| Other | $31.6M | 10% |
