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六旗（FUN）与Worthington Steel, Inc.（WS）财务数据对比。点击上方公司名可切换其他公司
Worthington Steel, Inc.的季度营收约是六旗的1.3倍（$871.9M vs $650.1M），Worthington Steel, Inc.净利率更高（2.2% vs -14.2%，领先16.4%），Worthington Steel, Inc.自由现金流更多（$74.6M 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。
沃辛顿钢铁是总部位于美国俄亥俄州哥伦布市的工业制造企业，下设消费品和建筑建材两大业务板块，主营各类压力容器的设计与生产，覆盖丙烷、氧气、氦气储罐，制冷剂及工业气瓶，露营与民用气瓶，以及用于存储、处理、加热、扩容和流量控制的供水系统罐体等产品。
FUN vs WS — 直观对比
营收规模更大
WS
是对方的1.3倍
$650.1M
净利率更高
WS
高出16.4%
-14.2%
自由现金流更多
WS
多$183.9M
$-109.3M
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $871.9M |
| 净利润 | $-92.4M | $18.8M |
| 毛利率 | 91.4% | 10.7% |
| 营业利润率 | -3.8% | 2.5% |
| 净利率 | -14.2% | 2.2% |
| 营收同比 | — | 18.0% |
| 净利润同比 | — | 46.9% |
| 每股收益（稀释后） | $-0.93 | $0.37 |
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FUNWS
| Q4 25 | $650.1M | $871.9M | ||
| Q3 25 | $1.3B | $872.9M | ||
| Q2 25 | $930.4M | $832.9M | ||
| Q1 25 | $202.1M | $687.4M | ||
| Q4 24 | — | $739.0M | ||
| Q3 24 | $1.3B | $834.0M | ||
| Q2 24 | $571.6M | — | ||
| Q1 24 | — | $805.8M |
净利润FUNWS
| Q4 25 | $-92.4M | $18.8M | ||
| Q3 25 | $-1.2B | $36.8M | ||
| Q2 25 | $-99.6M | $55.7M | ||
| Q1 25 | $-219.7M | $13.8M | ||
| Q4 24 | — | $12.8M | ||
| Q3 24 | $111.0M | $28.4M | ||
| Q2 24 | $55.6M | — | ||
| Q1 24 | — | $49.0M |
毛利率FUNWS
| Q4 25 | 91.4% | 10.7% | ||
| Q3 25 | 91.6% | 13.2% | ||
| Q2 25 | 91.3% | 15.2% | ||
| Q1 25 | 89.3% | 11.8% | ||
| Q4 24 | — | 10.8% | ||
| Q3 24 | 91.9% | 12.0% | ||
| Q2 24 | 90.7% | — | ||
| Q1 24 | — | 14.9% |
营业利润率FUNWS
| Q4 25 | -3.8% | 2.5% | ||
| Q3 25 | -83.7% | 5.5% | ||
| Q2 25 | 8.0% | 8.0% | ||
| Q1 25 | -158.9% | 2.7% | ||
| Q4 24 | — | 2.6% | ||
| Q3 24 | 19.5% | 5.2% | ||
| Q2 24 | 21.6% | — | ||
| Q1 24 | — | 8.2% |
净利率FUNWS
| Q4 25 | -14.2% | 2.2% | ||
| Q3 25 | -90.1% | 4.2% | ||
| Q2 25 | -10.7% | 6.7% | ||
| Q1 25 | -108.7% | 2.0% | ||
| Q4 24 | — | 1.7% | ||
| Q3 24 | 8.2% | 3.4% | ||
| Q2 24 | 9.7% | — | ||
| Q1 24 | — | 6.1% |
每股收益（稀释后）FUNWS
| Q4 25 | $-0.93 | $0.37 | ||
| Q3 25 | $-11.77 | $0.72 | ||
| Q2 25 | $-0.99 | $1.11 | ||
| Q1 25 | $-2.20 | $0.27 | ||
| Q4 24 | — | $0.25 | ||
| Q3 24 | $1.10 | $0.56 | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $0.98 |
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 | $89.8M |
| 总债务越低越好 | $5.2B | $72.1M |
| 股东权益账面价值 | $549.8M | $1.1B |
| 总资产 | $7.8B | $2.1B |
| 负债/权益比越低杠杆越低 | 9.40× | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资FUNWS
| Q4 25 | $91.1M | $89.8M | ||
| Q3 25 | $70.7M | $78.3M | ||
| Q2 25 | $107.4M | $38.0M | ||
| Q1 25 | $61.5M | $63.3M | ||
| Q4 24 | — | $52.0M | ||
| Q3 24 | $89.7M | $36.0M | ||
| Q2 24 | $52.9M | — | ||
| Q1 24 | — | $60.8M |
总债务FUNWS
| Q4 25 | $5.2B | $72.1M | ||
| Q3 25 | $5.0B | $73.4M | ||
| Q2 25 | $5.3B | $151.5M | ||
| Q1 25 | $5.0B | — | ||
| Q4 24 | — | $115.0M | ||
| Q3 24 | $4.6B | $122.2M | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | — | $147.2M |
股东权益FUNWS
| Q4 25 | $549.8M | $1.1B | ||
| Q3 25 | $614.3M | $1.1B | ||
| Q2 25 | $1.8B | $1.1B | ||
| Q1 25 | $1.8B | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $2.3B | $1.0B | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $937.6M |
总资产FUNWS
| Q4 25 | $7.8B | $2.1B | ||
| Q3 25 | $7.9B | $2.2B | ||
| Q2 25 | $9.5B | $2.0B | ||
| Q1 25 | $9.2B | $1.8B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | $9.4B | $1.8B | ||
| Q2 24 | $2.3B | — | ||
| Q1 24 | — | $1.8B |
负债/权益比FUNWS
| Q4 25 | 9.40× | 0.06× | ||
| Q3 25 | 8.16× | 0.07× | ||
| Q2 25 | 2.97× | 0.14× | ||
| Q1 25 | 2.75× | — | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | 1.95× | 0.12× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.16× |
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 | $99.3M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $74.6M |
| 自由现金流率自由现金流/营收 | -16.8% | 8.6% |
| 资本支出强度资本支出/营收 | 11.0% | 2.8% |
| 现金转化率经营现金流/净利润 | — | 5.28× |
| 过去12个月自由现金流最近4个季度 | $-152.2M | $72.5M |
8季度趋势，按日历期对齐
经营现金流FUNWS
| Q4 25 | $-37.7M | $99.3M | ||
| Q3 25 | $356.2M | $-6.3M | ||
| Q2 25 | $187.0M | $53.9M | ||
| Q1 25 | $-178.0M | $53.8M | ||
| Q4 24 | — | $68.0M | ||
| Q3 24 | $337.4M | $54.6M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $44.7M |
自由现金流FUNWS
| Q4 25 | $-109.3M | $74.6M | ||
| Q3 25 | $256.2M | $-35.7M | ||
| Q2 25 | $18.8M | $8.4M | ||
| Q1 25 | $-318.0M | $25.2M | ||
| Q4 24 | — | $33.2M | ||
| Q3 24 | $227.7M | $33.1M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $22.3M |
自由现金流率FUNWS
| Q4 25 | -16.8% | 8.6% | ||
| Q3 25 | 19.4% | -4.1% | ||
| Q2 25 | 2.0% | 1.0% | ||
| Q1 25 | -157.4% | 3.7% | ||
| Q4 24 | — | 4.5% | ||
| Q3 24 | 16.9% | 4.0% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.8% |
资本支出强度FUNWS
| Q4 25 | 11.0% | 2.8% | ||
| Q3 25 | 7.6% | 3.4% | ||
| Q2 25 | 18.1% | 5.5% | ||
| Q1 25 | 69.3% | 4.2% | ||
| Q4 24 | — | 4.7% | ||
| Q3 24 | 8.1% | 2.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 2.8% |
现金转化率FUNWS
| Q4 25 | — | 5.28× | ||
| Q3 25 | — | -0.17× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | 3.90× | ||
| Q4 24 | — | 5.31× | ||
| Q3 24 | 3.04× | 1.92× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.91× |
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% |
WS
| Direct | $844.1M | 97% |
| Toll | $27.8M | 3% |
