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六旗（FUN）与Tyler Technologies（TYL）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Tyler Technologies的1.1倍（$650.1M vs $575.2M），Tyler Technologies净利率更高（11.4% vs -14.2%，领先25.6%），Tyler Technologies自由现金流更多（$239.6M 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。
Tyler Technologies, Inc.是总部位于美国得克萨斯州普莱诺的科技企业，主营面向美国公共部门提供自研专有软件，目前在全美17个州设有办事处，另在加拿大安大略省多伦多市设有一处办公网点。
FUN vs TYL — 直观对比
营收规模更大
FUN
是对方的1.1倍
$575.2M
净利率更高
TYL
高出25.6%
-14.2%
自由现金流更多
TYL
多$348.8M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $575.2M |
| 净利润 | $-92.4M | $65.5M |
| 毛利率 | 91.4% | 45.5% |
| 营业利润率 | -3.8% | 13.0% |
| 净利率 | -14.2% | 11.4% |
| 营收同比 | — | 6.3% |
| 净利润同比 | — | 0.5% |
| 每股收益（稀释后） | $-0.93 | $1.50 |
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FUNTYL
| Q4 25 | $650.1M | $575.2M | ||
| Q3 25 | $1.3B | $595.9M | ||
| Q2 25 | $930.4M | $596.1M | ||
| Q1 25 | $202.1M | $565.2M | ||
| Q4 24 | — | $541.1M | ||
| Q3 24 | $1.3B | $543.3M | ||
| Q2 24 | $571.6M | $541.0M | ||
| Q1 24 | — | $512.4M |
净利润FUNTYL
| Q4 25 | $-92.4M | $65.5M | ||
| Q3 25 | $-1.2B | $84.4M | ||
| Q2 25 | $-99.6M | $84.6M | ||
| Q1 25 | $-219.7M | $81.1M | ||
| Q4 24 | — | $65.2M | ||
| Q3 24 | $111.0M | $75.9M | ||
| Q2 24 | $55.6M | $67.7M | ||
| Q1 24 | — | $54.2M |
毛利率FUNTYL
| Q4 25 | 91.4% | 45.5% | ||
| Q3 25 | 91.6% | 47.2% | ||
| Q2 25 | 91.3% | 45.8% | ||
| Q1 25 | 89.3% | 47.3% | ||
| Q4 24 | — | 43.8% | ||
| Q3 24 | 91.9% | 43.7% | ||
| Q2 24 | 90.7% | 44.0% | ||
| Q1 24 | — | 43.7% |
营业利润率FUNTYL
| Q4 25 | -3.8% | 13.0% | ||
| Q3 25 | -83.7% | 16.4% | ||
| Q2 25 | 8.0% | 16.0% | ||
| Q1 25 | -158.9% | 15.8% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | 19.5% | 15.2% | ||
| Q2 24 | 21.6% | 14.4% | ||
| Q1 24 | — | 13.1% |
净利率FUNTYL
| Q4 25 | -14.2% | 11.4% | ||
| Q3 25 | -90.1% | 14.2% | ||
| Q2 25 | -10.7% | 14.2% | ||
| Q1 25 | -108.7% | 14.3% | ||
| Q4 24 | — | 12.1% | ||
| Q3 24 | 8.2% | 14.0% | ||
| Q2 24 | 9.7% | 12.5% | ||
| Q1 24 | — | 10.6% |
每股收益（稀释后）FUNTYL
| Q4 25 | $-0.93 | $1.50 | ||
| Q3 25 | $-11.77 | $1.93 | ||
| Q2 25 | $-0.99 | $1.93 | ||
| Q1 25 | $-2.20 | $1.84 | ||
| Q4 24 | — | $1.48 | ||
| Q3 24 | $1.10 | $1.74 | ||
| Q2 24 | — | $1.57 | ||
| Q1 24 | — | $1.26 |
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 | $1.1B |
| 总债务越低越好 | $5.2B | $599.7M |
| 股东权益账面价值 | $549.8M | $3.7B |
| 总资产 | $7.8B | $5.6B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.16× |
8季度趋势，按日历期对齐
现金及短期投资FUNTYL
| Q4 25 | $91.1M | $1.1B | ||
| Q3 25 | $70.7M | $950.8M | ||
| Q2 25 | $107.4M | $892.3M | ||
| Q1 25 | $61.5M | $807.4M | ||
| Q4 24 | — | $768.0M | ||
| Q3 24 | $89.7M | $544.3M | ||
| Q2 24 | $52.9M | $258.0M | ||
| Q1 24 | — | $196.9M |
总债务FUNTYL
| Q4 25 | $5.2B | $599.7M | ||
| Q3 25 | $5.0B | $599.2M | ||
| Q2 25 | $5.3B | $598.8M | ||
| Q1 25 | $5.0B | $598.4M | ||
| Q4 24 | — | $597.9M | ||
| Q3 24 | $4.6B | $597.5M | ||
| Q2 24 | $2.3B | $597.1M | ||
| Q1 24 | — | $596.6M |
股东权益FUNTYL
| Q4 25 | $549.8M | $3.7B | ||
| Q3 25 | $614.3M | $3.6B | ||
| Q2 25 | $1.8B | $3.6B | ||
| Q1 25 | $1.8B | $3.5B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | $2.3B | $3.3B | ||
| Q2 24 | — | $3.1B | ||
| Q1 24 | — | $3.0B |
总资产FUNTYL
| Q4 25 | $7.8B | $5.6B | ||
| Q3 25 | $7.9B | $5.5B | ||
| Q2 25 | $9.5B | $5.4B | ||
| Q1 25 | $9.2B | $5.2B | ||
| Q4 24 | — | $5.2B | ||
| Q3 24 | $9.4B | $5.0B | ||
| Q2 24 | $2.3B | $4.8B | ||
| Q1 24 | — | $4.6B |
负债/权益比FUNTYL
| Q4 25 | 9.40× | 0.16× | ||
| Q3 25 | 8.16× | 0.17× | ||
| Q2 25 | 2.97× | 0.16× | ||
| Q1 25 | 2.75× | 0.17× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | 1.95× | 0.18× | ||
| Q2 24 | — | 0.19× | ||
| Q1 24 | — | 0.20× |
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 | $243.9M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $239.6M |
| 自由现金流率自由现金流/营收 | -16.8% | 41.7% |
| 资本支出强度资本支出/营收 | 11.0% | 0.8% |
| 现金转化率经营现金流/净利润 | — | 3.72× |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $637.5M |
8季度趋势，按日历期对齐
经营现金流FUNTYL
| Q4 25 | $-37.7M | $243.9M | ||
| Q3 25 | $356.2M | $255.2M | ||
| Q2 25 | $187.0M | $98.3M | ||
| Q1 25 | $-178.0M | $56.2M | ||
| Q4 24 | — | $224.8M | ||
| Q3 24 | $337.4M | $263.7M | ||
| Q2 24 | — | $64.3M | ||
| Q1 24 | — | $71.8M |
自由现金流FUNTYL
| Q4 25 | $-109.3M | $239.6M | ||
| Q3 25 | $256.2M | $251.3M | ||
| Q2 25 | $18.8M | $92.8M | ||
| Q1 25 | $-318.0M | $53.8M | ||
| Q4 24 | — | $221.0M | ||
| Q3 24 | $227.7M | $260.8M | ||
| Q2 24 | — | $57.7M | ||
| Q1 24 | — | $64.6M |
自由现金流率FUNTYL
| Q4 25 | -16.8% | 41.7% | ||
| Q3 25 | 19.4% | 42.2% | ||
| Q2 25 | 2.0% | 15.6% | ||
| Q1 25 | -157.4% | 9.5% | ||
| Q4 24 | — | 40.8% | ||
| Q3 24 | 16.9% | 48.0% | ||
| Q2 24 | — | 10.7% | ||
| Q1 24 | — | 12.6% |
资本支出强度FUNTYL
| Q4 25 | 11.0% | 0.8% | ||
| Q3 25 | 7.6% | 0.7% | ||
| Q2 25 | 18.1% | 0.9% | ||
| Q1 25 | 69.3% | 0.4% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | 8.1% | 0.5% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 1.4% |
现金转化率FUNTYL
| Q4 25 | — | 3.72× | ||
| Q3 25 | — | 3.02× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | — | 3.45× | ||
| Q3 24 | 3.04× | 3.47× | ||
| Q2 24 | — | 0.95× | ||
| Q1 24 | — | 1.33× |
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% |
TYL
| Saas Arrangements | $186.1M | 32% |
| Platform Technologies Segment | $143.3M | 25% |
| Maintenance | $109.4M | 19% |
| Professional Services | $55.3M | 10% |
| Nonrecurring Revenue | $51.3M | 9% |
| Other | $21.4M | 4% |
| Hardware And Other | $8.4M | 1% |
