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六旗（FUN）与Warby Parker Inc.（WRBY）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Warby Parker Inc.的1.1倍（$225.6M vs $212.0M），Warby Parker Inc.净利率更高（-2.8% vs -119.0%，领先116.2%），六旗同比增速更快（11.7% vs 11.2%）
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。
Warby Parker是总部位于纽约的美国眼镜品牌零售商，主营处方眼镜、隐形眼镜及太阳镜，还提供验光服务。品牌2010年创立之初仅在线上运营，目前约三分之二的收入来自276家线下实体门店，其中271家位于美国，5家位于加拿大，品牌未来计划开设900家门店，现有消费者规模228万，客单价约263美元。
FUN vs WRBY — 直观对比
营收规模更大
FUN
是对方的1.1倍
$212.0M
营收增速更快
FUN
高出0.5%
11.2%
净利率更高
WRBY
高出116.2%
-119.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $212.0M |
| 净利润 | $-268.6M | $-6.0M |
| 毛利率 | — | 52.4% |
| 营业利润率 | — | -3.2% |
| 净利率 | -119.0% | -2.8% |
| 营收同比 | 11.7% | 11.2% |
| 净利润同比 | -22.2% | 13.4% |
| 每股收益（稀释后） | — | $-0.06 |
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FUNWRBY
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $212.0M | ||
| Q3 25 | $1.3B | $221.7M | ||
| Q2 25 | $930.4M | $214.5M | ||
| Q1 25 | $202.1M | $223.8M | ||
| Q4 24 | — | $190.6M | ||
| Q3 24 | $1.3B | $192.4M | ||
| Q2 24 | $571.6M | $188.2M |
净利润FUNWRBY
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $-6.0M | ||
| Q3 25 | $-1.2B | $5.9M | ||
| Q2 25 | $-99.6M | $-1.8M | ||
| Q1 25 | $-219.7M | $3.5M | ||
| Q4 24 | — | $-6.9M | ||
| Q3 24 | $111.0M | $-4.1M | ||
| Q2 24 | $55.6M | $-6.8M |
毛利率FUNWRBY
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | 52.4% | ||
| Q3 25 | 91.6% | 54.1% | ||
| Q2 25 | 91.3% | 53.0% | ||
| Q1 25 | 89.3% | 56.3% | ||
| Q4 24 | — | 54.1% | ||
| Q3 24 | 91.9% | 54.5% | ||
| Q2 24 | 90.7% | 56.0% |
营业利润率FUNWRBY
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | -3.2% | ||
| Q3 25 | -83.7% | 1.6% | ||
| Q2 25 | 8.0% | -2.1% | ||
| Q1 25 | -158.9% | 1.1% | ||
| Q4 24 | — | -4.9% | ||
| Q3 24 | 19.5% | -3.4% | ||
| Q2 24 | 21.6% | -4.8% |
净利率FUNWRBY
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | -2.8% | ||
| Q3 25 | -90.1% | 2.6% | ||
| Q2 25 | -10.7% | -0.8% | ||
| Q1 25 | -108.7% | 1.6% | ||
| Q4 24 | — | -3.6% | ||
| Q3 24 | 8.2% | -2.1% | ||
| Q2 24 | 9.7% | -3.6% |
每股收益（稀释后）FUNWRBY
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $-0.06 | ||
| Q3 25 | $-11.77 | $0.05 | ||
| Q2 25 | $-0.99 | $-0.01 | ||
| Q1 25 | $-2.20 | $0.03 | ||
| Q4 24 | — | $-0.06 | ||
| Q3 24 | $1.10 | $-0.03 | ||
| Q2 24 | — | $-0.06 |
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 | $286.4M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | $367.7M |
| 总资产 | $7.7B | $720.9M |
| 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FUNWRBY
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | $286.4M | ||
| Q3 25 | $70.7M | $280.4M | ||
| Q2 25 | $107.4M | $286.4M | ||
| Q1 25 | $61.5M | $265.1M | ||
| Q4 24 | — | $254.2M | ||
| Q3 24 | $89.7M | $251.0M | ||
| Q2 24 | $52.9M | $238.0M |
总债务FUNWRBY
| 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FUNWRBY
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $367.7M | ||
| Q3 25 | $614.3M | $369.6M | ||
| Q2 25 | $1.8B | $361.5M | ||
| Q1 25 | $1.8B | $354.1M | ||
| Q4 24 | — | $340.1M | ||
| Q3 24 | $2.3B | $336.8M | ||
| Q2 24 | — | $329.4M |
总资产FUNWRBY
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $720.9M | ||
| Q3 25 | $7.9B | $706.9M | ||
| Q2 25 | $9.5B | $701.9M | ||
| Q1 25 | $9.2B | $682.8M | ||
| Q4 24 | — | $676.5M | ||
| Q3 24 | $9.4B | $638.0M | ||
| Q2 24 | $2.3B | $618.2M |
负债/权益比FUNWRBY
| 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 | — | $23.3M |
| 自由现金流经营现金流 - 资本支出 | — | $8.1M |
| 自由现金流率自由现金流/营收 | — | 3.8% |
| 资本支出强度资本支出/营收 | — | 7.1% |
| 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 | — | $43.7M |
8季度趋势，按日历期对齐
经营现金流FUNWRBY
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $23.3M | ||
| Q3 25 | $356.2M | $18.0M | ||
| Q2 25 | $187.0M | $40.2M | ||
| Q1 25 | $-178.0M | $29.4M | ||
| Q4 24 | — | $19.9M | ||
| Q3 24 | $337.4M | $27.3M | ||
| Q2 24 | — | $31.6M |
自由现金流FUNWRBY
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $8.1M | ||
| Q3 25 | $256.2M | $-1.5M | ||
| Q2 25 | $18.8M | $23.9M | ||
| Q1 25 | $-318.0M | $13.2M | ||
| Q4 24 | — | $2.2M | ||
| Q3 24 | $227.7M | $13.1M | ||
| Q2 24 | — | $14.0M |
自由现金流率FUNWRBY
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | 3.8% | ||
| Q3 25 | 19.4% | -0.7% | ||
| Q2 25 | 2.0% | 11.1% | ||
| Q1 25 | -157.4% | 5.9% | ||
| Q4 24 | — | 1.1% | ||
| Q3 24 | 16.9% | 6.8% | ||
| Q2 24 | — | 7.4% |
资本支出强度FUNWRBY
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 7.1% | ||
| Q3 25 | 7.6% | 8.8% | ||
| Q2 25 | 18.1% | 7.6% | ||
| Q1 25 | 69.3% | 7.2% | ||
| Q4 24 | — | 9.3% | ||
| Q3 24 | 8.1% | 7.4% | ||
| Q2 24 | — | 9.4% |
现金转化率FUNWRBY
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 3.06× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 8.46× | ||
| 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% |
WRBY
| Retail | $155.2M | 73% |
| E Commerce | $56.8M | 27% |
