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六旗（FUN）与Westrock Coffee Co（WEST）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Westrock Coffee Co的1.9倍（$650.1M vs $339.5M），Westrock Coffee Co净利率更高（-6.6% vs -14.2%，领先7.6%），Westrock Coffee Co自由现金流更多（$27.8M 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。
Westrock Coffee Co是一家全球化综合咖啡及饮品解决方案供应商，业务覆盖咖啡、茶与功能性饮品的采购、烘焙、生产及分销，为北美及全球其他区域的零售、餐饮和商业客户提供定制化产品及配套服务。
FUN vs WEST — 直观对比
营收规模更大
FUN
是对方的1.9倍
$339.5M
净利率更高
WEST
高出7.6%
-14.2%
自由现金流更多
WEST
多$137.0M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $339.5M |
| 净利润 | $-92.4M | $-22.6M |
| 毛利率 | 91.4% | 11.5% |
| 营业利润率 | -3.8% | -2.6% |
| 净利率 | -14.2% | -6.6% |
| 营收同比 | — | 48.3% |
| 净利润同比 | — | 8.3% |
| 每股收益（稀释后） | $-0.93 | $-0.22 |
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FUNWEST
| Q4 25 | $650.1M | $339.5M | ||
| Q3 25 | $1.3B | $354.8M | ||
| Q2 25 | $930.4M | $280.9M | ||
| Q1 25 | $202.1M | $213.8M | ||
| Q4 24 | — | $229.0M | ||
| Q3 24 | $1.3B | $220.9M | ||
| Q2 24 | $571.6M | $208.4M | ||
| Q1 24 | — | $192.5M |
净利润FUNWEST
| Q4 25 | $-92.4M | $-22.6M | ||
| Q3 25 | $-1.2B | $-19.1M | ||
| Q2 25 | $-99.6M | $-21.6M | ||
| Q1 25 | $-219.7M | $-27.2M | ||
| Q4 24 | — | $-24.6M | ||
| Q3 24 | $111.0M | $-14.3M | ||
| Q2 24 | $55.6M | $-17.8M | ||
| Q1 24 | — | $-23.7M |
毛利率FUNWEST
| Q4 25 | 91.4% | 11.5% | ||
| Q3 25 | 91.6% | 11.7% | ||
| Q2 25 | 91.3% | 14.7% | ||
| Q1 25 | 89.3% | 13.6% | ||
| Q4 24 | — | 16.6% | ||
| Q3 24 | 91.9% | 16.8% | ||
| Q2 24 | 90.7% | 19.9% | ||
| Q1 24 | — | 19.4% |
营业利润率FUNWEST
| Q4 25 | -3.8% | -2.6% | ||
| Q3 25 | -83.7% | -2.4% | ||
| Q2 25 | 8.0% | -5.3% | ||
| Q1 25 | -158.9% | -6.1% | ||
| Q4 24 | — | -4.3% | ||
| Q3 24 | 19.5% | -5.8% | ||
| Q2 24 | 21.6% | -7.9% | ||
| Q1 24 | — | -5.3% |
净利率FUNWEST
| Q4 25 | -14.2% | -6.6% | ||
| Q3 25 | -90.1% | -5.4% | ||
| Q2 25 | -10.7% | -7.7% | ||
| Q1 25 | -108.7% | -12.7% | ||
| Q4 24 | — | -10.7% | ||
| Q3 24 | 8.2% | -6.5% | ||
| Q2 24 | 9.7% | -8.5% | ||
| Q1 24 | — | -12.3% |
每股收益（稀释后）FUNWEST
| Q4 25 | $-0.93 | $-0.22 | ||
| Q3 25 | $-11.77 | $-0.20 | ||
| Q2 25 | $-0.99 | $-0.23 | ||
| Q1 25 | $-2.20 | $-0.29 | ||
| Q4 24 | — | $-0.26 | ||
| Q3 24 | $1.10 | $-0.16 | ||
| Q2 24 | — | $-0.20 | ||
| Q1 24 | — | $-0.27 |
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 | $49.9M |
| 总债务越低越好 | $5.2B | $444.1M |
| 股东权益账面价值 | $549.8M | $-1.9M |
| 总资产 | $7.8B | $1.2B |
| 负债/权益比越低杠杆越低 | 9.40× | — |
8季度趋势，按日历期对齐
现金及短期投资FUNWEST
| Q4 25 | $91.1M | $49.9M | ||
| Q3 25 | $70.7M | $34.0M | ||
| Q2 25 | $107.4M | $44.0M | ||
| Q1 25 | $61.5M | $33.1M | ||
| Q4 24 | — | $26.2M | ||
| Q3 24 | $89.7M | $22.4M | ||
| Q2 24 | $52.9M | $24.3M | ||
| Q1 24 | — | $12.6M |
总债务FUNWEST
| Q4 25 | $5.2B | $444.1M | ||
| Q3 25 | $5.0B | — | ||
| Q2 25 | $5.3B | — | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | $393.1M | ||
| Q3 24 | $4.6B | — | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | — | — |
股东权益FUNWEST
| Q4 25 | $549.8M | $-1.9M | ||
| Q3 25 | $614.3M | $11.4M | ||
| Q2 25 | $1.8B | $18.2M | ||
| Q1 25 | $1.8B | $71.4M | ||
| Q4 24 | — | $97.5M | ||
| Q3 24 | $2.3B | $110.3M | ||
| Q2 24 | — | $81.5M | ||
| Q1 24 | — | $91.7M |
总资产FUNWEST
| Q4 25 | $7.8B | $1.2B | ||
| Q3 25 | $7.9B | $1.2B | ||
| Q2 25 | $9.5B | $1.2B | ||
| Q1 25 | $9.2B | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | $9.4B | $1.1B | ||
| Q2 24 | $2.3B | $1.1B | ||
| Q1 24 | — | $983.3M |
负债/权益比FUNWEST
| Q4 25 | 9.40× | — | ||
| Q3 25 | 8.16× | — | ||
| Q2 25 | 2.97× | — | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | 4.03× | ||
| Q3 24 | 1.95× | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $-37.7M | $36.7M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $27.8M |
| 自由现金流率自由现金流/营收 | -16.8% | 8.2% |
| 资本支出强度资本支出/营收 | 11.0% | 2.6% |
| 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 | $-152.2M | $-107.8M |
8季度趋势，按日历期对齐
经营现金流FUNWEST
| Q4 25 | $-37.7M | $36.7M | ||
| Q3 25 | $356.2M | $-26.6M | ||
| Q2 25 | $187.0M | $-7.0M | ||
| Q1 25 | $-178.0M | $-22.1M | ||
| Q4 24 | — | $2.8M | ||
| Q3 24 | $337.4M | $-332.0K | ||
| Q2 24 | — | $-23.7M | ||
| Q1 24 | — | $8.0M |
自由现金流FUNWEST
| Q4 25 | $-109.3M | $27.8M | ||
| Q3 25 | $256.2M | $-44.7M | ||
| Q2 25 | $18.8M | $-27.5M | ||
| Q1 25 | $-318.0M | $-63.4M | ||
| Q4 24 | — | $-15.4M | ||
| Q3 24 | $227.7M | $-36.7M | ||
| Q2 24 | — | $-59.9M | ||
| Q1 24 | — | $-60.9M |
自由现金流率FUNWEST
| Q4 25 | -16.8% | 8.2% | ||
| Q3 25 | 19.4% | -12.6% | ||
| Q2 25 | 2.0% | -9.8% | ||
| Q1 25 | -157.4% | -29.7% | ||
| Q4 24 | — | -6.7% | ||
| Q3 24 | 16.9% | -16.6% | ||
| Q2 24 | — | -28.7% | ||
| Q1 24 | — | -31.7% |
资本支出强度FUNWEST
| Q4 25 | 11.0% | 2.6% | ||
| Q3 25 | 7.6% | 5.1% | ||
| Q2 25 | 18.1% | 7.3% | ||
| Q1 25 | 69.3% | 19.3% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | 8.1% | 16.5% | ||
| Q2 24 | — | 17.4% | ||
| Q1 24 | — | 35.8% |
现金转化率FUNWEST
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.04× | — | ||
| Q2 24 | — | — | ||
| Q1 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
| Admission | $327.4M | 50% |
| Food Merchandiseand Gaming | $205.7M | 32% |
| Accommodations Extra Charge Products And Other | $117.0M | 18% |
WEST
| Coffee And Tea | $202.6M | 60% |
| Flavors Extracts And Ingredients | $69.6M | 21% |
| Sustainable Sourcing And Traceability Segments | $66.9M | 20% |
