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六旗（FUN）与Waystar Holding Corp.（WAY）财务数据对比。点击上方公司名可切换其他公司
Waystar Holding Corp.的季度营收约是六旗的1.4倍（$313.9M vs $225.6M），Waystar Holding Corp.净利率更高（13.8% vs -119.0%，领先132.8%），Waystar Holding Corp.同比增速更快（22.4% 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。
Waystar Holding Corp是一家领先的医疗健康支付与营收周期管理解决方案提供商，服务覆盖美国各地的医疗机构、医疗系统和支付方，旗下工具可简化账单处理、理赔申请、患者缴费流程，帮助医疗机构降低行政负担、优化营收表现。
FUN vs WAY — 直观对比
营收规模更大
WAY
是对方的1.4倍
$225.6M
营收增速更快
WAY
高出10.7%
11.7%
净利率更高
WAY
高出132.8%
-119.0%
损益表 — Q1 FY2026 vs Q1 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $313.9M |
| 净利润 | $-268.6M | $43.3M |
| 毛利率 | — | — |
| 营业利润率 | — | 25.6% |
| 净利率 | -119.0% | 13.8% |
| 营收同比 | 11.7% | 22.4% |
| 净利润同比 | -22.2% | 47.9% |
| 每股收益（稀释后） | — | $0.42 |
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FUNWAY
| Q1 26 | $225.6M | $313.9M | ||
| Q4 25 | $650.1M | $303.5M | ||
| Q3 25 | $1.3B | $268.7M | ||
| Q2 25 | $930.4M | $270.7M | ||
| Q1 25 | $202.1M | $256.4M | ||
| Q4 24 | — | $244.1M | ||
| Q3 24 | $1.3B | $240.1M | ||
| Q2 24 | $571.6M | $234.5M |
净利润FUNWAY
| Q1 26 | $-268.6M | $43.3M | ||
| Q4 25 | $-92.4M | $20.0M | ||
| Q3 25 | $-1.2B | $30.6M | ||
| Q2 25 | $-99.6M | $32.2M | ||
| Q1 25 | $-219.7M | $29.3M | ||
| Q4 24 | — | $19.1M | ||
| Q3 24 | $111.0M | $5.4M | ||
| Q2 24 | $55.6M | $-27.7M |
毛利率FUNWAY
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | — | ||
| Q3 25 | 91.6% | — | ||
| Q2 25 | 91.3% | — | ||
| Q1 25 | 89.3% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 91.9% | — | ||
| Q2 24 | 90.7% | — |
营业利润率FUNWAY
| Q1 26 | — | 25.6% | ||
| Q4 25 | -3.8% | 19.4% | ||
| Q3 25 | -83.7% | 22.4% | ||
| Q2 25 | 8.0% | 24.0% | ||
| Q1 25 | -158.9% | 25.4% | ||
| Q4 24 | — | 21.8% | ||
| Q3 24 | 19.5% | 11.3% | ||
| Q2 24 | 21.6% | 3.5% |
净利率FUNWAY
| Q1 26 | -119.0% | 13.8% | ||
| Q4 25 | -14.2% | 6.6% | ||
| Q3 25 | -90.1% | 11.4% | ||
| Q2 25 | -10.7% | 11.9% | ||
| Q1 25 | -108.7% | 11.4% | ||
| Q4 24 | — | 7.8% | ||
| Q3 24 | 8.2% | 2.3% | ||
| Q2 24 | 9.7% | -11.8% |
每股收益（稀释后）FUNWAY
| Q1 26 | — | $0.42 | ||
| Q4 25 | $-0.93 | $0.10 | ||
| Q3 25 | $-11.77 | $0.17 | ||
| Q2 25 | $-0.99 | $0.18 | ||
| Q1 25 | $-2.20 | $0.16 | ||
| Q4 24 | — | $0.18 | ||
| Q3 24 | $1.10 | $0.03 | ||
| 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 | $34.3M |
| 总债务越低越好 | — | $13.5M |
| 股东权益账面价值 | $279.2M | $3.9B |
| 总资产 | $7.7B | $5.8B |
| 负债/权益比越低杠杆越低 | — | 0.00× |
8季度趋势，按日历期对齐
现金及短期投资FUNWAY
| Q1 26 | $116.5M | $34.3M | ||
| Q4 25 | $91.1M | $61.4M | ||
| Q3 25 | $70.7M | $421.1M | ||
| Q2 25 | $107.4M | $290.3M | ||
| Q1 25 | $61.5M | $224.0M | ||
| Q4 24 | — | $182.1M | ||
| Q3 24 | $89.7M | $127.1M | ||
| Q2 24 | $52.9M | $68.4M |
总债务FUNWAY
| Q1 26 | — | $13.5M | ||
| Q4 25 | $5.2B | $1.5B | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — |
股东权益FUNWAY
| Q1 26 | $279.2M | $3.9B | ||
| Q4 25 | $549.8M | $3.9B | ||
| Q3 25 | $614.3M | $3.2B | ||
| Q2 25 | $1.8B | $3.2B | ||
| Q1 25 | $1.8B | $3.1B | ||
| Q4 24 | — | $3.1B | ||
| Q3 24 | $2.3B | $3.1B | ||
| Q2 24 | — | $2.9B |
总资产FUNWAY
| Q1 26 | $7.7B | $5.8B | ||
| Q4 25 | $7.8B | $5.8B | ||
| Q3 25 | $7.9B | $4.7B | ||
| Q2 25 | $9.5B | $4.7B | ||
| Q1 25 | $9.2B | $4.6B | ||
| Q4 24 | — | $4.6B | ||
| Q3 24 | $9.4B | $4.5B | ||
| Q2 24 | $2.3B | $4.6B |
负债/权益比FUNWAY
| Q1 26 | — | 0.00× | ||
| Q4 25 | 9.40× | 0.38× | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | 0.40× | ||
| 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 | — | $84.9M |
| 自由现金流经营现金流 - 资本支出 | — | $90.3M |
| 自由现金流率自由现金流/营收 | — | 28.8% |
| 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 | — | 1.96× |
| 过去12个月自由现金流最近4个季度 | — | $314.6M |
8季度趋势，按日历期对齐
经营现金流FUNWAY
| Q1 26 | — | $84.9M | ||
| Q4 25 | $-37.7M | $66.6M | ||
| Q3 25 | $356.2M | $82.0M | ||
| Q2 25 | $187.0M | $96.8M | ||
| Q1 25 | $-178.0M | $64.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $337.4M | $78.8M | ||
| Q2 24 | — | $15.4M |
自由现金流FUNWAY
| Q1 26 | — | $90.3M | ||
| Q4 25 | $-109.3M | $57.2M | ||
| Q3 25 | $256.2M | $76.2M | ||
| Q2 25 | $18.8M | $91.0M | ||
| Q1 25 | $-318.0M | $58.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | $227.7M | $70.2M | ||
| Q2 24 | — | $8.6M |
自由现金流率FUNWAY
| Q1 26 | — | 28.8% | ||
| Q4 25 | -16.8% | 18.9% | ||
| Q3 25 | 19.4% | 28.3% | ||
| Q2 25 | 2.0% | 33.6% | ||
| Q1 25 | -157.4% | 22.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | 16.9% | 29.2% | ||
| Q2 24 | — | 3.7% |
资本支出强度FUNWAY
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 3.1% | ||
| Q3 25 | 7.6% | 2.2% | ||
| Q2 25 | 18.1% | 2.1% | ||
| Q1 25 | 69.3% | 2.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.1% | 3.6% | ||
| Q2 24 | — | 2.9% |
现金转化率FUNWAY
| Q1 26 | — | 1.96× | ||
| Q4 25 | — | 3.33× | ||
| Q3 25 | — | 2.68× | ||
| Q2 25 | — | 3.01× | ||
| Q1 25 | — | 2.20× | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.04× | 14.56× | ||
| 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% |
WAY
| Subscription | $172.2M | 55% |
| Volume-based | $139.5M | 44% |
