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六旗（FUN）与West Pharmaceutical Services（WST）财务数据对比。点击上方公司名可切换其他公司
West Pharmaceutical Services的季度营收约是六旗的3.6倍（$805.0M vs $225.6M），West Pharmaceutical Services净利率更高（16.4% vs -119.0%，领先135.5%），六旗同比增速更快（11.7% vs 7.5%）
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。
美国West Pharmaceutical Services是注射用药品包装及给药系统的设计和制造商，1923年成立，总部位于宾夕法尼亚州埃克斯顿。成立初期主营注射类药物包装用橡胶组件，曾为青霉素和胰岛素生产商提供符合无菌要求的配套产品。
FUN vs WST — 直观对比
营收规模更大
WST
是对方的3.6倍
$225.6M
营收增速更快
FUN
高出4.2%
7.5%
净利率更高
WST
高出135.5%
-119.0%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $805.0M |
| 净利润 | $-268.6M | $132.1M |
| 毛利率 | — | 37.8% |
| 营业利润率 | — | 19.5% |
| 净利率 | -119.0% | 16.4% |
| 营收同比 | 11.7% | 7.5% |
| 净利润同比 | -22.2% | 1.5% |
| 每股收益（稀释后） | — | $1.82 |
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FUNWST
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $805.0M | ||
| Q3 25 | $1.3B | $804.6M | ||
| Q2 25 | $930.4M | $766.5M | ||
| Q1 25 | $202.1M | $698.0M | ||
| Q4 24 | — | $748.8M | ||
| Q3 24 | $1.3B | $746.9M | ||
| Q2 24 | $571.6M | $702.1M |
净利润FUNWST
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | $132.1M | ||
| Q3 25 | $-1.2B | $140.0M | ||
| Q2 25 | $-99.6M | $131.8M | ||
| Q1 25 | $-219.7M | $89.8M | ||
| Q4 24 | — | $130.1M | ||
| Q3 24 | $111.0M | $136.0M | ||
| Q2 24 | $55.6M | $111.3M |
毛利率FUNWST
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | 37.8% | ||
| Q3 25 | 91.6% | 36.6% | ||
| Q2 25 | 91.3% | 35.7% | ||
| Q1 25 | 89.3% | 33.2% | ||
| Q4 24 | — | 36.5% | ||
| Q3 24 | 91.9% | 35.4% | ||
| Q2 24 | 90.7% | 32.8% |
营业利润率FUNWST
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | 19.5% | ||
| Q3 25 | -83.7% | 20.8% | ||
| Q2 25 | 8.0% | 20.1% | ||
| Q1 25 | -158.9% | 15.3% | ||
| Q4 24 | — | 21.3% | ||
| Q3 24 | 19.5% | 21.6% | ||
| Q2 24 | 21.6% | 18.0% |
净利率FUNWST
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | 16.4% | ||
| Q3 25 | -90.1% | 17.4% | ||
| Q2 25 | -10.7% | 17.2% | ||
| Q1 25 | -108.7% | 12.9% | ||
| Q4 24 | — | 17.4% | ||
| Q3 24 | 8.2% | 18.2% | ||
| Q2 24 | 9.7% | 15.9% |
每股收益（稀释后）FUNWST
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $1.82 | ||
| Q3 25 | $-11.77 | $1.92 | ||
| Q2 25 | $-0.99 | $1.82 | ||
| Q1 25 | $-2.20 | $1.23 | ||
| Q4 24 | — | $1.78 | ||
| Q3 24 | $1.10 | $1.85 | ||
| Q2 24 | — | $1.51 |
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 | $791.3M |
| 总债务越低越好 | — | $202.8M |
| 股东权益账面价值 | $279.2M | $3.2B |
| 总资产 | $7.7B | $4.3B |
| 负债/权益比越低杠杆越低 | — | 0.06× |
8季度趋势，按日历期对齐
现金及短期投资FUNWST
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | $791.3M | ||
| Q3 25 | $70.7M | $628.5M | ||
| Q2 25 | $107.4M | $509.7M | ||
| Q1 25 | $61.5M | $404.2M | ||
| Q4 24 | — | $484.6M | ||
| Q3 24 | $89.7M | $490.9M | ||
| Q2 24 | $52.9M | $446.2M |
总债务FUNWST
| Q1 26 | — | — | ||
| Q4 25 | $5.2B | $202.8M | ||
| Q3 25 | $5.0B | $202.7M | ||
| Q2 25 | $5.3B | $202.6M | ||
| Q1 25 | $5.0B | $202.6M | ||
| Q4 24 | — | $202.6M | ||
| Q3 24 | $4.6B | $202.6M | ||
| Q2 24 | $2.3B | $205.8M |
股东权益FUNWST
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $3.2B | ||
| Q3 25 | $614.3M | $3.1B | ||
| Q2 25 | $1.8B | $2.9B | ||
| Q1 25 | $1.8B | $2.7B | ||
| Q4 24 | — | $2.7B | ||
| Q3 24 | $2.3B | $2.8B | ||
| Q2 24 | — | $2.6B |
总资产FUNWST
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $4.3B | ||
| Q3 25 | $7.9B | $4.1B | ||
| Q2 25 | $9.5B | $4.0B | ||
| Q1 25 | $9.2B | $3.6B | ||
| Q4 24 | — | $3.6B | ||
| Q3 24 | $9.4B | $3.7B | ||
| Q2 24 | $2.3B | $3.5B |
负债/权益比FUNWST
| Q1 26 | — | — | ||
| Q4 25 | 9.40× | 0.06× | ||
| Q3 25 | 8.16× | 0.07× | ||
| Q2 25 | 2.97× | 0.07× | ||
| Q1 25 | 2.75× | 0.08× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | 1.95× | 0.07× | ||
| Q2 24 | — | 0.08× |
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 | — | $251.1M |
| 自由现金流经营现金流 - 资本支出 | — | $175.0M |
| 自由现金流率自由现金流/营收 | — | 21.7% |
| 资本支出强度资本支出/营收 | — | 9.5% |
| 现金转化率经营现金流/净利润 | — | 1.90× |
| 过去12个月自由现金流最近4个季度 | — | $468.9M |
8季度趋势，按日历期对齐
经营现金流FUNWST
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $251.1M | ||
| Q3 25 | $356.2M | $197.2M | ||
| Q2 25 | $187.0M | $177.1M | ||
| Q1 25 | $-178.0M | $129.4M | ||
| Q4 24 | — | $190.1M | ||
| Q3 24 | $337.4M | $180.1M | ||
| Q2 24 | — | $165.0M |
自由现金流FUNWST
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $175.0M | ||
| Q3 25 | $256.2M | $133.9M | ||
| Q2 25 | $18.8M | $101.9M | ||
| Q1 25 | $-318.0M | $58.1M | ||
| Q4 24 | — | $85.2M | ||
| Q3 24 | $227.7M | $98.8M | ||
| Q2 24 | — | $64.8M |
自由现金流率FUNWST
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | 21.7% | ||
| Q3 25 | 19.4% | 16.6% | ||
| Q2 25 | 2.0% | 13.3% | ||
| Q1 25 | -157.4% | 8.3% | ||
| Q4 24 | — | 11.4% | ||
| Q3 24 | 16.9% | 13.2% | ||
| Q2 24 | — | 9.2% |
资本支出强度FUNWST
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 9.5% | ||
| Q3 25 | 7.6% | 7.9% | ||
| Q2 25 | 18.1% | 9.8% | ||
| Q1 25 | 69.3% | 10.2% | ||
| Q4 24 | — | 14.0% | ||
| Q3 24 | 8.1% | 10.9% | ||
| Q2 24 | — | 14.3% |
现金转化率FUNWST
| Q1 26 | — | — | ||
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.41× | ||
| Q2 25 | — | 1.34× | ||
| Q1 25 | — | 1.44× | ||
| Q4 24 | — | 1.46× | ||
| Q3 24 | 3.04× | 1.32× | ||
| Q2 24 | — | 1.48× |
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% |
WST
| Proprietary Products | $661.8M | 82% |
| Contract Manufactured Products | $143.2M | 18% |
| Affiliated Entity | $3.3M | 0% |
