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六旗（FUN）与WillScot Holdings Corp（WSC）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WillScot Holdings Corp的1.1倍（$650.1M vs $566.0M），六旗净利率更高（-14.2% vs -33.1%，领先18.9%），WillScot Holdings Corp自由现金流更多（$149.7M 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。
WillScot Holdings Corp是北美领先的模块化空间及便携式存储服务供应商，服务覆盖建筑、商业开发、教育、医疗、政府项目、特殊活动等多个领域，为客户提供灵活可扩展的临时及半永久空间解决方案。
FUN vs WSC — 直观对比
营收规模更大
FUN
是对方的1.1倍
$566.0M
净利率更高
FUN
高出18.9%
-33.1%
自由现金流更多
WSC
多$259.0M
$-109.3M
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $650.1M | $566.0M |
| 净利润 | $-92.4M | $-187.3M |
| 毛利率 | 91.4% | 50.4% |
| 营业利润率 | -3.8% | -32.5% |
| 净利率 | -14.2% | -33.1% |
| 营收同比 | — | -6.1% |
| 净利润同比 | — | -310.0% |
| 每股收益（稀释后） | $-0.93 | $-1.02 |
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FUNWSC
| Q4 25 | $650.1M | $566.0M | ||
| Q3 25 | $1.3B | $566.8M | ||
| Q2 25 | $930.4M | $589.1M | ||
| Q1 25 | $202.1M | $559.6M | ||
| Q4 24 | — | $602.5M | ||
| Q3 24 | $1.3B | $601.4M | ||
| Q2 24 | $571.6M | $604.6M | ||
| Q1 24 | — | $587.2M |
净利润FUNWSC
| Q4 25 | $-92.4M | $-187.3M | ||
| Q3 25 | $-1.2B | $43.3M | ||
| Q2 25 | $-99.6M | $47.9M | ||
| Q1 25 | $-219.7M | $43.1M | ||
| Q4 24 | — | $89.2M | ||
| Q3 24 | $111.0M | $-70.5M | ||
| Q2 24 | $55.6M | $-46.9M | ||
| Q1 24 | — | $56.2M |
毛利率FUNWSC
| Q4 25 | 91.4% | 50.4% | ||
| Q3 25 | 91.6% | 49.7% | ||
| Q2 25 | 91.3% | 50.3% | ||
| Q1 25 | 89.3% | 53.7% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | 91.9% | 53.5% | ||
| Q2 24 | 90.7% | 54.1% | ||
| Q1 24 | — | 54.0% |
营业利润率FUNWSC
| Q4 25 | -3.8% | -32.5% | ||
| Q3 25 | -83.7% | 21.0% | ||
| Q2 25 | 8.0% | 21.5% | ||
| Q1 25 | -158.9% | 21.3% | ||
| Q4 24 | — | 28.9% | ||
| Q3 24 | 19.5% | -5.9% | ||
| Q2 24 | 21.6% | -0.9% | ||
| Q1 24 | — | 22.1% |
净利率FUNWSC
| Q4 25 | -14.2% | -33.1% | ||
| Q3 25 | -90.1% | 7.6% | ||
| Q2 25 | -10.7% | 8.1% | ||
| Q1 25 | -108.7% | 7.7% | ||
| Q4 24 | — | 14.8% | ||
| Q3 24 | 8.2% | -11.7% | ||
| Q2 24 | 9.7% | -7.7% | ||
| Q1 24 | — | 9.6% |
每股收益（稀释后）FUNWSC
| Q4 25 | $-0.93 | $-1.02 | ||
| Q3 25 | $-11.77 | $0.24 | ||
| Q2 25 | $-0.99 | $0.26 | ||
| Q1 25 | $-2.20 | $0.23 | ||
| Q4 24 | — | $0.48 | ||
| Q3 24 | $1.10 | $-0.37 | ||
| Q2 24 | — | $-0.25 | ||
| Q1 24 | — | $0.29 |
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 | $14.6M |
| 总债务越低越好 | $5.2B | $3.6B |
| 股东权益账面价值 | $549.8M | $856.3M |
| 总资产 | $7.8B | $5.8B |
| 负债/权益比越低杠杆越低 | 9.40× | 4.15× |
8季度趋势，按日历期对齐
现金及短期投资FUNWSC
| Q4 25 | $91.1M | $14.6M | ||
| Q3 25 | $70.7M | $14.8M | ||
| Q2 25 | $107.4M | $12.8M | ||
| Q1 25 | $61.5M | $10.7M | ||
| Q4 24 | — | $9.0M | ||
| Q3 24 | $89.7M | $11.0M | ||
| Q2 24 | $52.9M | $5.9M | ||
| Q1 24 | — | $13.1M |
总债务FUNWSC
| Q4 25 | $5.2B | $3.6B | ||
| Q3 25 | $5.0B | $3.6B | ||
| Q2 25 | $5.3B | $3.7B | ||
| Q1 25 | $5.0B | $3.6B | ||
| Q4 24 | — | $3.7B | ||
| Q3 24 | $4.6B | $3.6B | ||
| Q2 24 | $2.3B | $3.5B | ||
| Q1 24 | — | $3.5B |
股东权益FUNWSC
| Q4 25 | $549.8M | $856.3M | ||
| Q3 25 | $614.3M | $1.1B | ||
| Q2 25 | $1.8B | $1.0B | ||
| Q1 25 | $1.8B | $1.0B | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | $2.3B | $1.1B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.3B |
总资产FUNWSC
| Q4 25 | $7.8B | $5.8B | ||
| Q3 25 | $7.9B | $6.1B | ||
| Q2 25 | $9.5B | $6.1B | ||
| Q1 25 | $9.2B | $6.0B | ||
| Q4 24 | — | $6.0B | ||
| Q3 24 | $9.4B | $6.0B | ||
| Q2 24 | $2.3B | $6.0B | ||
| Q1 24 | — | $6.2B |
负债/权益比FUNWSC
| Q4 25 | 9.40× | 4.15× | ||
| Q3 25 | 8.16× | 3.39× | ||
| Q2 25 | 2.97× | 3.55× | ||
| Q1 25 | 2.75× | 3.56× | ||
| Q4 24 | — | 3.62× | ||
| Q3 24 | 1.95× | 3.42× | ||
| Q2 24 | — | 2.88× | ||
| Q1 24 | — | 2.63× |
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 | $158.9M |
| 自由现金流经营现金流 - 资本支出 | $-109.3M | $149.7M |
| 自由现金流率自由现金流/营收 | -16.8% | 26.5% |
| 资本支出强度资本支出/营收 | 11.0% | 1.6% |
| 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 | $737.7M |
8季度趋势，按日历期对齐
经营现金流FUNWSC
| Q4 25 | $-37.7M | $158.9M | ||
| Q3 25 | $356.2M | $191.2M | ||
| Q2 25 | $187.0M | $205.3M | ||
| Q1 25 | $-178.0M | $206.6M | ||
| Q4 24 | — | $178.9M | ||
| Q3 24 | $337.4M | $-1.6M | ||
| Q2 24 | — | $175.6M | ||
| Q1 24 | — | $208.7M |
自由现金流FUNWSC
| Q4 25 | $-109.3M | $149.7M | ||
| Q3 25 | $256.2M | $186.9M | ||
| Q2 25 | $18.8M | $199.0M | ||
| Q1 25 | $-318.0M | $202.0M | ||
| Q4 24 | — | $176.6M | ||
| Q3 24 | $227.7M | $-4.9M | ||
| Q2 24 | — | $169.4M | ||
| Q1 24 | — | $202.1M |
自由现金流率FUNWSC
| Q4 25 | -16.8% | 26.5% | ||
| Q3 25 | 19.4% | 33.0% | ||
| Q2 25 | 2.0% | 33.8% | ||
| Q1 25 | -157.4% | 36.1% | ||
| Q4 24 | — | 29.3% | ||
| Q3 24 | 16.9% | -0.8% | ||
| Q2 24 | — | 28.0% | ||
| Q1 24 | — | 34.4% |
资本支出强度FUNWSC
| Q4 25 | 11.0% | 1.6% | ||
| Q3 25 | 7.6% | 0.7% | ||
| Q2 25 | 18.1% | 1.1% | ||
| Q1 25 | 69.3% | 0.8% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | 8.1% | 0.6% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.1% |
现金转化率FUNWSC
| Q4 25 | — | — | ||
| Q3 25 | — | 4.41× | ||
| Q2 25 | — | 4.28× | ||
| Q1 25 | — | 4.80× | ||
| Q4 24 | — | 2.01× | ||
| Q3 24 | 3.04× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 3.71× |
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% |
WSC
| Modular Space Leasing | $249.8M | 44% |
| Value Added Product And Services | $101.0M | 18% |
| Portable Storage Leasing | $83.0M | 15% |
| Delivery Revenue | $48.2M | 9% |
| Installation Revenue | $45.0M | 8% |
| Rental Units | $19.7M | 3% |
| New Units | $15.5M | 3% |
| Value Added Services | $10.3M | 2% |
| Other Leasing Related Products And Services | $3.8M | 1% |
