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六旗（FUN）与再鼎医药（ZLAB）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再鼎医药的1.8倍（$225.6M vs $127.1M），再鼎医药同比增速更快（17.1% vs 11.7%）
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。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
FUN vs ZLAB — 直观对比
营收规模更大
FUN
是对方的1.8倍
$127.1M
营收增速更快
ZLAB
高出5.5%
11.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $225.6M | $127.1M |
| 净利润 | $-268.6M | — |
| 毛利率 | — | 51.0% |
| 营业利润率 | — | -54.6% |
| 净利率 | -119.0% | — |
| 营收同比 | 11.7% | 17.1% |
| 净利润同比 | -22.2% | — |
| 每股收益（稀释后） | — | $-0.05 |
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FUNZLAB
| Q1 26 | $225.6M | — | ||
| Q4 25 | $650.1M | $127.1M | ||
| Q3 25 | $1.3B | $115.4M | ||
| Q2 25 | $930.4M | $109.1M | ||
| Q1 25 | $202.1M | $105.7M | ||
| Q4 24 | — | $108.5M | ||
| Q3 24 | $1.3B | $101.8M | ||
| Q2 24 | $571.6M | $100.1M |
净利润FUNZLAB
| Q1 26 | $-268.6M | — | ||
| Q4 25 | $-92.4M | — | ||
| Q3 25 | $-1.2B | $-36.0M | ||
| Q2 25 | $-99.6M | $-40.7M | ||
| Q1 25 | $-219.7M | $-48.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $111.0M | $-41.7M | ||
| Q2 24 | $55.6M | $-80.3M |
毛利率FUNZLAB
| Q1 26 | — | — | ||
| Q4 25 | 91.4% | 51.0% | ||
| Q3 25 | 91.6% | 59.5% | ||
| Q2 25 | 91.3% | 60.6% | ||
| Q1 25 | 89.3% | 63.6% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | 91.9% | 64.1% | ||
| Q2 24 | 90.7% | 64.9% |
营业利润率FUNZLAB
| Q1 26 | — | — | ||
| Q4 25 | -3.8% | -54.6% | ||
| Q3 25 | -83.7% | -42.3% | ||
| Q2 25 | 8.0% | -50.3% | ||
| Q1 25 | -158.9% | -53.3% | ||
| Q4 24 | — | -62.6% | ||
| Q3 24 | 19.5% | -66.6% | ||
| Q2 24 | 21.6% | -76.0% |
净利率FUNZLAB
| Q1 26 | -119.0% | — | ||
| Q4 25 | -14.2% | — | ||
| Q3 25 | -90.1% | -31.2% | ||
| Q2 25 | -10.7% | -37.3% | ||
| Q1 25 | -108.7% | -45.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | 8.2% | -40.9% | ||
| Q2 24 | 9.7% | -80.2% |
每股收益（稀释后）FUNZLAB
| Q1 26 | — | — | ||
| Q4 25 | $-0.93 | $-0.05 | ||
| Q3 25 | $-11.77 | $-0.03 | ||
| Q2 25 | $-0.99 | $-0.04 | ||
| Q1 25 | $-2.20 | $-0.04 | ||
| Q4 24 | — | $-0.09 | ||
| Q3 24 | $1.10 | $-0.04 | ||
| Q2 24 | — | $-0.08 |
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 | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $279.2M | $715.5M |
| 总资产 | $7.7B | $1.2B |
| 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FUNZLAB
| Q1 26 | $116.5M | — | ||
| Q4 25 | $91.1M | $689.6M | ||
| Q3 25 | $70.7M | $717.2M | ||
| Q2 25 | $107.4M | $732.2M | ||
| Q1 25 | $61.5M | $757.3M | ||
| Q4 24 | — | $779.7M | ||
| Q3 24 | $89.7M | $616.1M | ||
| Q2 24 | $52.9M | $630.0M |
总债务FUNZLAB
| 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FUNZLAB
| Q1 26 | $279.2M | — | ||
| Q4 25 | $549.8M | $715.5M | ||
| Q3 25 | $614.3M | $759.9M | ||
| Q2 25 | $1.8B | $791.7M | ||
| Q1 25 | $1.8B | $810.8M | ||
| Q4 24 | — | $840.9M | ||
| Q3 24 | $2.3B | $667.7M | ||
| Q2 24 | — | $704.2M |
总资产FUNZLAB
| Q1 26 | $7.7B | — | ||
| Q4 25 | $7.8B | $1.2B | ||
| Q3 25 | $7.9B | $1.2B | ||
| Q2 25 | $9.5B | $1.2B | ||
| Q1 25 | $9.2B | $1.2B | ||
| Q4 24 | — | $1.2B | ||
| Q3 24 | $9.4B | $985.3M | ||
| Q2 24 | $2.3B | $987.4M |
负债/权益比FUNZLAB
| 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 | — | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | — | $-26.7M |
| 自由现金流率自由现金流/营收 | — | -21.0% |
| 资本支出强度资本支出/营收 | — | 0.5% |
| 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 | — | $-158.9M |
8季度趋势，按日历期对齐
经营现金流FUNZLAB
| Q1 26 | — | — | ||
| Q4 25 | $-37.7M | $-26.0M | ||
| Q3 25 | $356.2M | $-32.0M | ||
| Q2 25 | $187.0M | $-31.0M | ||
| Q1 25 | $-178.0M | $-61.7M | ||
| Q4 24 | — | $-55.8M | ||
| Q3 24 | $337.4M | $-26.8M | ||
| Q2 24 | — | $-42.2M |
自由现金流FUNZLAB
| Q1 26 | — | — | ||
| Q4 25 | $-109.3M | $-26.7M | ||
| Q3 25 | $256.2M | $-35.0M | ||
| Q2 25 | $18.8M | $-33.9M | ||
| Q1 25 | $-318.0M | $-63.2M | ||
| Q4 24 | — | $-58.4M | ||
| Q3 24 | $227.7M | $-28.2M | ||
| Q2 24 | — | $-42.9M |
自由现金流率FUNZLAB
| Q1 26 | — | — | ||
| Q4 25 | -16.8% | -21.0% | ||
| Q3 25 | 19.4% | -30.4% | ||
| Q2 25 | 2.0% | -31.1% | ||
| Q1 25 | -157.4% | -59.9% | ||
| Q4 24 | — | -53.8% | ||
| Q3 24 | 16.9% | -27.7% | ||
| Q2 24 | — | -42.9% |
资本支出强度FUNZLAB
| Q1 26 | — | — | ||
| Q4 25 | 11.0% | 0.5% | ||
| Q3 25 | 7.6% | 2.6% | ||
| Q2 25 | 18.1% | 2.6% | ||
| Q1 25 | 69.3% | 1.5% | ||
| Q4 24 | — | 2.4% | ||
| Q3 24 | 8.1% | 1.3% | ||
| Q2 24 | — | 0.7% |
现金转化率FUNZLAB
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
