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六旗（FUN）与Unity Software Inc.（U）财务数据对比。点击上方公司名可切换其他公司
Unity Software Inc.的季度营收约是六旗的2.3倍（$508.2M vs $225.6M），Unity Software Inc.净利率更高（-68.3% vs -119.0%，领先50.8%），Unity Software Inc.同比增速更快（17.0% vs 11.7%）
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。
Unity Software Inc.是总部位于美国旧金山的游戏软件开发企业，2004年于丹麦成立时原名为Over the Edge Entertainment，2007年更为现名。公司核心产品Unity游戏引擎全球应用广泛，可用于开发各类电子游戏及其他互动应用，商业化授权服务覆盖全球客户。
FUN vs U — 直观对比
营收规模更大
U
是对方的2.3倍
$225.6M
营收增速更快
U
高出5.3%
11.7%
净利率更高
U
高出50.8%
-119.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $508.2M |
| 净利润 | $-268.6M | $-346.9M |
| 毛利率 | — | 30.8% |
| 营业利润率 | — | 0.0% |
| 净利率 | -119.0% | -68.3% |
| 营收同比 | 11.7% | 17.0% |
| 净利润同比 | -22.2% | — |
| 每股收益（稀释后） | — | $-0.80 |
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FUNU
| Q1 26 | $225.6M | $508.2M | ||
| Q4 25 | $650.1M | $503.1M | ||
| Q3 25 | $1.3B | $470.6M | ||
| Q2 25 | $930.4M | $440.9M | ||
| Q1 25 | $202.1M | $435.0M | ||
| Q4 24 | — | $457.1M | ||
| Q3 24 | $1.3B | $446.5M | ||
| Q2 24 | $571.6M | $449.3M |
净利润FUNU
| Q1 26 | $-268.6M | $-346.9M | ||
| Q4 25 | $-92.4M | $-90.0M | ||
| Q3 25 | $-1.2B | $-126.4M | ||
| Q2 25 | $-99.6M | $-108.8M | ||
| Q1 25 | $-219.7M | $-77.6M | ||
| Q4 24 | — | $-122.7M | ||
| Q3 24 | $111.0M | $-124.7M | ||
| Q2 24 | $55.6M | $-125.6M |
毛利率FUNU
| Q1 26 | — | 30.8% | ||
| Q4 25 | 91.4% | 74.3% | ||
| Q3 25 | 91.6% | 74.4% | ||
| Q2 25 | 91.3% | 74.1% | ||
| Q1 25 | 89.3% | 73.8% | ||
| Q4 24 | — | 74.7% | ||
| Q3 24 | 91.9% | 74.9% | ||
| Q2 24 | 90.7% | 75.8% |
营业利润率FUNU
| Q1 26 | — | 0.0% | ||
| Q4 25 | -3.8% | -21.2% | ||
| Q3 25 | -83.7% | -26.7% | ||
| Q2 25 | 8.0% | -26.9% | ||
| Q1 25 | -158.9% | -29.4% | ||
| Q4 24 | — | -27.1% | ||
| Q3 24 | 19.5% | -28.5% | ||
| Q2 24 | 21.6% | -28.8% |
净利率FUNU
| Q1 26 | -119.0% | -68.3% | ||
| Q4 25 | -14.2% | -17.9% | ||
| Q3 25 | -90.1% | -26.9% | ||
| Q2 25 | -10.7% | -24.7% | ||
| Q1 25 | -108.7% | -17.8% | ||
| Q4 24 | — | -26.8% | ||
| Q3 24 | 8.2% | -27.9% | ||
| Q2 24 | 9.7% | -28.0% |
每股收益（稀释后）FUNU
| Q1 26 | — | $-0.80 | ||
| Q4 25 | $-0.93 | $-0.21 | ||
| Q3 25 | $-11.77 | $-0.30 | ||
| Q2 25 | $-0.99 | $-0.26 | ||
| Q1 25 | $-2.20 | $-0.19 | ||
| Q4 24 | — | $-0.30 | ||
| Q3 24 | $1.10 | $-0.31 | ||
| Q2 24 | — | $-0.32 |
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 | $2.1B |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | $3.0B |
| 总资产 | $7.7B | $6.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资FUNU
| Q1 26 | $116.5M | $2.1B | ||
| Q4 25 | $91.1M | $2.1B | ||
| Q3 25 | $70.7M | $1.9B | ||
| Q2 25 | $107.4M | $1.7B | ||
| Q1 25 | $61.5M | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | $89.7M | $1.4B | ||
| Q2 24 | $52.9M | $1.3B |
总债务FUNU
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | — | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — |
股东权益FUNU
| Q1 26 | $279.2M | $3.0B | ||
| Q4 25 | $549.8M | $3.2B | ||
| Q3 25 | $614.3M | $3.2B | ||
| Q2 25 | $1.8B | $3.2B | ||
| Q1 25 | $1.8B | $3.2B | ||
| Q4 24 | — | $3.2B | ||
| Q3 24 | $2.3B | $3.2B | ||
| Q2 24 | — | $3.2B |
总资产FUNU
| Q1 26 | $7.7B | $6.5B | ||
| Q4 25 | $7.8B | $6.8B | ||
| Q3 25 | $7.9B | $6.8B | ||
| Q2 25 | $9.5B | $6.7B | ||
| Q1 25 | $9.2B | $6.6B | ||
| Q4 24 | — | $6.7B | ||
| Q3 24 | $9.4B | $6.7B | ||
| Q2 24 | $2.3B | $6.7B |
负债/权益比FUNU
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | — | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | — | ||
| 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 | — | $71.3M |
| 自由现金流经营现金流 - 资本支出 | — | $66.5M |
| 自由现金流率自由现金流/营收 | — | 13.1% |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | $463.1M |
8季度趋势，按日历期对齐
经营现金流FUNU
| Q1 26 | — | $71.3M | ||
| Q4 25 | $-37.7M | $121.4M | ||
| Q3 25 | $356.2M | $155.4M | ||
| Q2 25 | $187.0M | $133.1M | ||
| Q1 25 | $-178.0M | $13.0M | ||
| Q4 24 | — | $112.2M | ||
| Q3 24 | $337.4M | $122.4M | ||
| Q2 24 | — | $88.4M |
自由现金流FUNU
| Q1 26 | — | $66.5M | ||
| Q4 25 | $-109.3M | $118.7M | ||
| Q3 25 | $256.2M | $151.3M | ||
| Q2 25 | $18.8M | $126.7M | ||
| Q1 25 | $-318.0M | $7.3M | ||
| Q4 24 | — | $105.8M | ||
| Q3 24 | $227.7M | $115.2M | ||
| Q2 24 | — | $79.6M |
自由现金流率FUNU
| Q1 26 | — | 13.1% | ||
| Q4 25 | -16.8% | 23.6% | ||
| Q3 25 | 19.4% | 32.1% | ||
| Q2 25 | 2.0% | 28.7% | ||
| Q1 25 | -157.4% | 1.7% | ||
| Q4 24 | — | 23.1% | ||
| Q3 24 | 16.9% | 25.8% | ||
| Q2 24 | — | 17.7% |
资本支出强度FUNU
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 0.5% | ||
| Q3 25 | 7.6% | 0.9% | ||
| Q2 25 | 18.1% | 1.5% | ||
| Q1 25 | 69.3% | 1.3% | ||
| Q4 24 | — | 1.4% | ||
| Q3 24 | 8.1% | 1.6% | ||
| Q2 24 | — | 2.0% |
现金转化率FUNU
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.04× | — | ||
| Q2 24 | — | — |
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% |
U
| Strategic | $432.4M | 85% |
| Other | $75.8M | 15% |
