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六旗（FUN）与VARONIS SYSTEMS INC（VRNS）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VARONIS SYSTEMS INC的1.3倍（$225.6M vs $173.1M），VARONIS SYSTEMS INC同比增速更快（26.9% 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。
Varonis Systems是总部位于美国佛罗里达州迈阿密的软件企业，在以色列赫兹利亚设有研发中心。其推出的数据安全平台可分析数据及数据活动，借此识别由访问权限、SaaS应用配置不当引发的数据暴露风险，并可触发自动化修复流程，助力企业保障数据安全。
FUN vs VRNS — 直观对比
营收规模更大
FUN
是对方的1.3倍
$173.1M
营收增速更快
VRNS
高出15.2%
11.7%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $173.1M |
| 净利润 | $-268.6M | — |
| 毛利率 | — | 76.0% |
| 营业利润率 | — | -1.7% |
| 净利率 | -119.0% | — |
| 营收同比 | 11.7% | 26.9% |
| 净利润同比 | -22.2% | — |
| 每股收益（稀释后） | — | — |
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FUNVRNS
| Q1 26 | $225.6M | $173.1M | ||
| Q4 25 | $650.1M | $173.4M | ||
| Q3 25 | $1.3B | $161.6M | ||
| Q2 25 | $930.4M | $152.2M | ||
| Q1 25 | $202.1M | $136.4M | ||
| Q4 24 | — | $158.5M | ||
| Q3 24 | $1.3B | $148.1M | ||
| Q2 24 | $571.6M | $130.3M |
净利润FUNVRNS
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $-27.8M | ||
| Q3 25 | $-1.2B | $-29.9M | ||
| Q2 25 | $-99.6M | $-35.8M | ||
| Q1 25 | $-219.7M | $-35.8M | ||
| Q4 24 | — | $-13.0M | ||
| Q3 24 | $111.0M | $-18.3M | ||
| Q2 24 | $55.6M | $-23.9M |
毛利率FUNVRNS
| Q1 26 | — | 76.0% | ||
| Q4 25 | 91.4% | 78.9% | ||
| Q3 25 | 91.6% | 78.2% | ||
| Q2 25 | 91.3% | 79.5% | ||
| Q1 25 | 89.3% | 78.7% | ||
| Q4 24 | — | 83.6% | ||
| Q3 24 | 91.9% | 83.8% | ||
| Q2 24 | 90.7% | 82.8% |
营业利润率FUNVRNS
| Q1 26 | — | -1.7% | ||
| Q4 25 | -3.8% | -17.5% | ||
| Q3 25 | -83.7% | -22.2% | ||
| Q2 25 | 8.0% | -24.0% | ||
| Q1 25 | -158.9% | -32.1% | ||
| Q4 24 | — | -11.1% | ||
| Q3 24 | 19.5% | -16.0% | ||
| Q2 24 | 21.6% | -22.1% |
净利率FUNVRNS
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | -16.0% | ||
| Q3 25 | -90.1% | -18.5% | ||
| Q2 25 | -10.7% | -23.5% | ||
| Q1 25 | -108.7% | -26.2% | ||
| Q4 24 | — | -8.2% | ||
| Q3 24 | 8.2% | -12.4% | ||
| Q2 24 | 9.7% | -18.4% |
每股收益（稀释后）FUNVRNS
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $-0.23 | ||
| Q3 25 | $-11.77 | $-0.26 | ||
| Q2 25 | $-0.99 | $-0.32 | ||
| Q1 25 | $-2.20 | $-0.32 | ||
| Q4 24 | — | $-0.12 | ||
| Q3 24 | $1.10 | $-0.16 | ||
| Q2 24 | — | $-0.21 |
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 | $179.3M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | $453.5M |
| 总资产 | $7.7B | $1.6B |
| 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FUNVRNS
| Q1 26 | $116.5M | $179.3M | ||
| Q4 25 | $91.1M | $883.7M | ||
| Q3 25 | $70.7M | $671.3M | ||
| Q2 25 | $107.4M | $770.9M | ||
| Q1 25 | $61.5M | $567.6M | ||
| Q4 24 | — | $529.0M | ||
| Q3 24 | $89.7M | $844.8M | ||
| Q2 24 | $52.9M | $582.5M |
总债务FUNVRNS
| 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FUNVRNS
| Q1 26 | $279.2M | $453.5M | ||
| Q4 25 | $549.8M | $598.7M | ||
| Q3 25 | $614.3M | $604.8M | ||
| Q2 25 | $1.8B | $341.5M | ||
| Q1 25 | $1.8B | $367.7M | ||
| Q4 24 | — | $455.7M | ||
| Q3 24 | $2.3B | $428.6M | ||
| Q2 24 | — | $458.6M |
总资产FUNVRNS
| Q1 26 | $7.7B | $1.6B | ||
| Q4 25 | $7.8B | $1.8B | ||
| Q3 25 | $7.9B | $1.7B | ||
| Q2 25 | $9.5B | $1.6B | ||
| Q1 25 | $9.2B | $1.6B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $9.4B | $1.5B | ||
| Q2 24 | $2.3B | $1.1B |
负债/权益比FUNVRNS
| 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 | — | $55.0M |
| 自由现金流经营现金流 - 资本支出 | — | $49.0M |
| 自由现金流率自由现金流/营收 | — | 28.3% |
| 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 | — | $118.2M |
8季度趋势，按日历期对齐
经营现金流FUNVRNS
| Q1 26 | — | $55.0M | ||
| Q4 25 | $-37.7M | $24.7M | ||
| Q3 25 | $356.2M | $33.4M | ||
| Q2 25 | $187.0M | $21.3M | ||
| Q1 25 | $-178.0M | $68.0M | ||
| Q4 24 | — | $24.3M | ||
| Q3 24 | $337.4M | $22.5M | ||
| Q2 24 | — | $11.7M |
自由现金流FUNVRNS
| Q1 26 | — | $49.0M | ||
| Q4 25 | $-109.3M | $20.7M | ||
| Q3 25 | $256.2M | $30.4M | ||
| Q2 25 | $18.8M | $18.0M | ||
| Q1 25 | $-318.0M | $65.7M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | $227.7M | $21.3M | ||
| Q2 24 | — | $10.9M |
自由现金流率FUNVRNS
| Q1 26 | — | 28.3% | ||
| Q4 25 | -16.8% | 12.0% | ||
| Q3 25 | 19.4% | 18.8% | ||
| Q2 25 | 2.0% | 11.8% | ||
| Q1 25 | -157.4% | 48.1% | ||
| Q4 24 | — | 12.6% | ||
| Q3 24 | 16.9% | 14.4% | ||
| Q2 24 | — | 8.4% |
资本支出强度FUNVRNS
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 2.3% | ||
| Q3 25 | 7.6% | 1.8% | ||
| Q2 25 | 18.1% | 2.2% | ||
| Q1 25 | 69.3% | 1.7% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | 8.1% | 0.8% | ||
| Q2 24 | — | 0.6% |
现金转化率FUNVRNS
| 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% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
