(FUN) Six Flags Entertainment - Overview
Sector: Consumer Cyclical | Industry: Leisure | Exchange: NYSE (USA) | Market Cap: 2.027m USD | Total Return: -39.3% in 12m
Avg Turnover: 33.1M
Qual. Beats: 0
Rev. Trend: 94.3%
Qual. Beats: 0
Warnings
High Debt/EBITDA (7.0) with thin interest coverage (0.8)
Interest Coverage Ratio 0.8 is critical
Beneish M-Score -1.18 > -1.5 - likely earnings manipulation
Altman Z'' -1.26 < 1.0 - financial distress zone
Fakeout
Tailwinds
No distinct edge detected
Six Flags Entertainment Corporation, headquartered in Charlotte, North Carolina, operates a diverse portfolio of amusement parks, water parks, and resort properties across the United States, Mexico, and Canada. Formerly known as Cedar Fair, L.P., the company rebranded in July 2024 following a significant merger that consolidated two of the largest regional theme park operators in North America.
The company operates within the Leisure Facilities sub-industry, utilizing a business model centered on high-margin recurring revenue through season pass sales and in-park consumer spending on food, merchandise, and premium experiences. This sector is characterized by high barriers to entry due to the substantial capital expenditure required for land acquisition and the construction of complex ride infrastructure.
Investors can evaluate the long-term impact of the recent merger by reviewing the performance metrics available on ValueRay. Given the seasonal nature of the industry, revenue is typically concentrated in the second and third fiscal quarters, making year-over-year comparisons vital for assessing growth.
- Synergy capture from Cedar Fair and Six Flags merger lowers operating expenses
- Attendance figures correlate with seasonal weather patterns and consumer discretionary income levels
- Dynamic pricing strategies and in-park spending drive revenue per capita growth
- High fixed labor and maintenance costs impact margins during off-peak seasons
- Significant debt obligations sensitive to interest rate fluctuations and refinancing terms
| Net Income: -1.65b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA 1.20 > 1.0 |
| NWC/Revenue: -12.30% < 20% (prev -22.94%; Δ 10.63% < -1%) |
| CFO/TA 0.05 > 3% & CFO 422.3m > Net Income -1.65b |
| Net Debt (5.59b) to EBITDA (800.4m): 6.98 < 3 |
| Current Ratio: 0.68 > 1.5 & < 3 |
| Outstanding Shares: last quarter (101.5m) vs 12m ago 1.38% < -2% |
| Gross Margin: 21.62% > 18% (prev 0.68%; Δ 2.09k% > 0.5%) |
| Asset Turnover: 32.10% > 50% (prev 23.90%; Δ 8.20% > 0%) |
| Interest Coverage Ratio: 0.84 > 6 (EBITDA TTM 800.4m / Interest Expense TTM 367.9m) |
| A: -0.05 (Total Current Assets 830.8m - Total Current Liabilities 1.22b) / Total Assets 7.71b |
| B: -0.26 (Retained Earnings -2.03b / Total Assets 7.71b) |
| C: 0.03 (EBIT TTM 309.0m / Avg Total Assets 9.73b) |
| D: -0.27 (Book Value of Equity -1.97b / Total Liabilities 7.19b) |
| Altman-Z'' = -1.26 = CCC |
| DSRI: 1.09 (Receivables 177.3m/146.1m, Revenue 3.12b/2.81b) |
| GMI: 3.17 (GM 21.62% / 68.48%) |
| AQI: 1.01 (AQ_t 0.36 / AQ_t-1 0.36) |
| SGI: 1.11 (Revenue 3.12b / 2.81b) |
| TATA: -0.27 (NI -1.65b - CFO 422.3m) / TA 7.71b) |
| Beneish M = -1.18 (Cap -4..+1) = D |
As of May 30, 2026, the stock is trading at USD 21.01 with a total of 1,253,771 shares traded.
Over the past week, the price has changed by +6.54%,
over one month by +16.59%,
over three months by +23.37% and
over the past year by -39.30%.
Six Flags Entertainment has received a consensus analysts rating of 4.50. Therefore, it is recommended to buy FUN.
- StrongBuy: 10
- Buy: 2
- Hold: 1
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 26.4 | 25.7% |
P/E Forward = 1000.0
P/S = 0.6488
P/B = 7.2583
P/EG = 2.4338
Revenue TTM = 3.12b USD
EBIT TTM = 309.0m USD
EBITDA TTM = 800.4m USD
Long Term Debt = 5.34b USD (from longTermDebt, last quarter)
Short Term Debt = 15.0m USD (from shortTermDebt, last quarter)
Debt = 5.71b USD (from shortLongTermDebtTotal, last quarter) + Leases 176.0m
Net Debt = 5.59b USD (calculated: Debt 5.71b - CCE 116.7m)
Enterprise Value = 7.62b USD (2.03b + Debt 5.71b - CCE 116.7m)
Interest Coverage Ratio = 0.84 (Ebit TTM 309.0m / Interest Expense TTM 367.9m)
EV/FCF = 265.9x (Enterprise Value 7.62b / FCF TTM 28.6m)
FCF Yield = 0.38% (FCF TTM 28.6m / Enterprise Value 7.62b)
FCF Margin = 0.92% (FCF TTM 28.6m / Revenue TTM 3.12b)
Net Margin = -52.75% (Net Income TTM -1.65b / Revenue TTM 3.12b)
Gross Margin = 21.62% ((Revenue TTM 3.12b - Cost of Revenue TTM 2.45b) / Revenue TTM)
Gross Margin QoQ = -75.30% (prev 15.58%)
Tobins Q-Ratio = 0.99 (Enterprise Value 7.62b / Total Assets 7.71b)
Interest Expense / Debt = 6.44% (Interest Expense 367.9m / Debt 5.71b)
Taxrate = 21.0% (US default 21%)
NOPAT = 244.1m (EBIT 309.0m * (1 - 21.00%))
Current Ratio = 0.68 (Total Current Assets 830.8m / Total Current Liabilities 1.22b)
Debt / Equity = 20.44 (Debt 5.71b / totalStockholderEquity, last quarter 279.2m)
Debt / EBITDA = 6.98 (Net Debt 5.59b / EBITDA 800.4m)
Debt / FCF = 195.2 (Net Debt 5.59b / FCF TTM 28.6m)
Total Stockholder Equity = 804.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -16.93% (Net Income -1.65b / Total Assets 7.71b)
RoE = -58.10% (Net Income TTM -1.65b / Total Stockholder Equity 2.84b)
RoCE = 3.78% (EBIT 309.0m / Capital Employed (Equity 2.84b + L.T.Debt 5.34b))
RoIC = 3.81% (NOPAT 244.1m / Invested Capital 6.41b)
WACC = 6.74% (E(2.03b)/V(7.73b) * Re(11.38%) + D(5.71b)/V(7.73b) * Rd(6.44%) * (1-Tc(0.21)))
Discount Rate = 11.38% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 70.47 | Cagr: 35.75%
[DCF] Terminal Value 75.44% ; FCFF base≈28.6m ; Y1≈28.8m ; Y5≈30.5m
[DCF] Fair Price = N/A (negative equity: EV 473.9m - Net Debt 5.59b = -5.12b; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.17 | # QB: 0
Revenue Correlation: 94.28 | Revenue CAGR: 30.48% | SUE: 0.09 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.31 | Chg30d=-0.13% | Revisions=N/A | Analysts=6
EPS next Quarter (2026-09-30): EPS=2.13 | Chg30d=-8.79% | Revisions=-20% | Analysts=6
EPS current Year (2026-12-31): EPS=0.20 | Chg30d=+146.54% | Revisions=+20% | GrowthEPS=+118.0% | GrowthRev=-1.1%
EPS next Year (2027-12-31): EPS=0.25 | Chg30d=+89.56% | Revisions=+20% | GrowthEPS=+24.4% | GrowthRev=+3.6%
[Analyst] Revisions Ratio: -20%