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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Six Flags Entertainment Corporation stands as a prominent operator of amusement and resort properties situated across North America. Its extensive network encompasses theme parks, aquatic parks, and associated leisure destinations, spanning 17 states within the U. S.
How they make money
Six Flags Entertainment Corporation operates regional amusement parks, water parks, and resort properties. The company generates revenue primarily through guest spending on admission tickets, food and beverage, merchandise, games, and parking, as well as through sponsorship, licensing, and accommodation services.
Products & services
The company operates a portfolio of regional theme parks, water parks, and resort properties, offering rides, attractions, live entertainment, and food and beverage services.
Brands & revenue mix
Six Flags
Primary brand for the company's regional theme parks.
Separate brand revenue is not available in this research.Source
Cedar Point
Flagship amusement park brand.
Separate brand revenue is not available in this research.Source
Knott's Berry Farm
Major theme park brand.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
Calculated from reported segment revenue. Check the source period and revenue basis before comparing shares. Categories can overlap and may not add to 100%.
No quantified customer-concentration disclosure is available in the current saved research.
Suppliers, materials & equipment
Amusement ride and attraction manufacturers — Various third-party vendors that supply specialized amusement rides, water park equipment, and related maintenance services; specific supplier names are not disclosed.Source
Business relationships & partnerships
Peanuts Worldwide LLC — A long-standing licensing partnership allowing the company to feature Peanuts characters and intellectual property within its parks.Source
Competitors
The Walt Disney Company — Competes in the theme park and entertainment industry.Source
Universal Destinations & Experiences — Competes in the theme park and entertainment industry.Source
SeaWorld Entertainment, Inc. — Competes in the regional theme park and entertainment industry.Source
Strengths
Large portfolio of regional amusement parks and water parks in North AmericaSource
Risks
Dependence on discretionary consumer spending and economic conditionsSource
Risks associated with the operation of amusement rides and public safetySource
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-28.
Total debt is at least one year of revenue
Debt is large relative to the company's recent revenue base. Review maturity dates, borrowing terms and whether available liquidity can support the obligation.
Interest coverage is below 2x
Reported earnings provide limited coverage of interest expense. Review the underlying interest and operating-income figures because weak coverage can increase refinancing and liquidity risk.
Free cash flow is negative
The latest reported period did not generate positive free cash flow. Check whether the cash use reflects development investment, working capital or continuing operating losses.
Cash covers less than 20% of total debt
Cash on hand is small relative to reported debt. Compare unrestricted cash, debt maturities and expected financing needs rather than treating the ratio alone as a default prediction.
Quarterly revenue fell 43.3% versus the same quarter last year.
Check comparable business scope and currency, then separate volume, pricing and divestitures. One weaker quarter does not establish that the same decline will continue.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
22
Poor
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
17
Poor
Financial Strength
20
Business Quality / Moat
23
Management
18
Growth Quality
0
Risk / Durability
22
Weak Company · Expensive Stock
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
45
Avoid
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
54/100
Building Historical Record
Model Score 54/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
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WSS View
The quick read
The overall Wall Street Score is low across its combined quality, valuation and risk inputs. This can reflect an expensive share price, business weaknesses, or both; check Company Quality and the category breakdown before drawing a conclusion.
At today’s price, the WSS valuation framework currently reads as less attractive based on the available valuation and market data.
The model outlook is currently moderate.
What we like
•Asset quality scores strongly
•Insider activity signal is favorable
What to watch
•High debt risk
•M&A headline · Sep 8, 2026
•Valuation is a weaker part of the current profile
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for FUN
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•What is driving FUN's revenue decline, and does the latest company filing suggest the weakness is temporary or structural?
•How long can FUN fund negative free cash flow using its current cash position before it may need more debt or new shares?
•Is FUN's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•What specifically needs to improve for FUN to reach sustainable profitability?
•What future growth or profitability would be needed to justify FUN's current valuation?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for FUN
Detected from reported data — verify before acting.
Dividend history reported
Dividend payments are recorded. Review the dates and regular/special classification below; past payments do not guarantee future dividends.
High debt risk
Total debt is at least one year of revenue • Interest coverage is below 2x • Free cash flow is negative • Cash covers less than 20% of total debt
M&A headline · Sep 8, 2026
Six Flags Acquires Iconic ArieForce One, Bringing Fan-Favorite Roller Coaster Back to Life — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Large portfolio of regional amusement parks and water parks in North America.
Potential downside factors
−Debt risk (high): Total debt is at least one year of revenue.
−Interest coverage is below 2x.
−Free cash flow is negative.
−Cash covers less than 20% of total debt.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Very Weak22/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Poor
20
Debt Cost6.7%
Debt Reduction YoY-4.6%
Debt / Equity9.82x
Tap for breakdown →
Revenue
Weak
40
Revenue YoY-12.2%
Revenue CAGR31.3%
Net Margin-64.4%
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Asset
Strong
75
Asset Growth YoY-14.6%
Liquidation/Share$1.13
Net Assets/MCap2.08x
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Capital
Poor
33
Earnings Yield-160.0%
Buyback Yield6.0%
Debt Cost6.7%
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Management
Poor
18
ROIC5.4%
ROE-1526.2%
ROA-23.5%
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Moat
Poor
23
EPS Growth—
FCF/Share Growth—
Rev/Share Growth15.1%
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Valuation
Poor
0
Intrinsic Value—
Value Reference—
MOS—
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Buffett
Poor
30
Revenue40
Moat23
Valuation0
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MOS
Poor
0
MOS %—
Value Reference—
Deep Discount Reference—
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Financial
Poor
11
Interest Coverage0.8x
ROIC5.4%
FCF Yield-13.9%
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Master
Poor
18
Financial11
Valuation0
Debt20
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Resilience
Poor
14
Survival Years0.6 yrs
Current Ratio0.69x
FCF Margin-4.9%
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Score Changes
5 historical score records available
Previous Score
22
Sep 24, 2026
Change
Unchanged
Current Score
22
Oct 1, 2026
Category Changes
Revenue0
Debt0
Assets0
Capital0
Management0
Moat0
Valuation0
Buffett0
FUN score was unchanged.
Projected Score
Projected Score
24
Projected Change
+2.2 points
Preliminary comparable-period financial changes suggest improvement of approximately 2.2 points. This is a projected estimate, not the official WallStreetScore.
Price vs. Value
Valuation unavailable
Current Price
$7.71
Model Intrinsic Value
—
Difference
—
Margin of Safety
—
Value Reference: —
Deep Discount Reference: —
Intrinsic value is not currently available for this stock, so valuation can't be calculated.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$2.72B
$3.10B
$2.71B
$1.80B
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Cost of Revenue
$1.73B
$2.48B
$232.6M
$1.02B
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Gross Profit
$988.0M
$623.9M
$2.48B
$778.7M
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$378.3M
$345.9M
$411.2M
$274.2M
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Operating Expenses
$686.3M
$345.9M
$2.17B
$472.5M
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EBITDA
-$903.5M
-$867.1M
$587.1M
$472.4M
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Operating Income
$301.6M
$278.0M
$310.5M
$306.2M
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Interest Expense
$377.5M
$360.0M
$234.8M
$141.8M
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····
····
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Income Before Tax
-$1.75B
-$1.71B
$34.2M
$172.6M
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Income Tax Expense
-$44.5M
-$164.0M
$240.8M
$48.0M
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Net Income
-$1.75B
-$1.60B
-$231.2M
$124.6M
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Basic EPS
$-17.36
$-15.90
$-2.30
$2.45
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Basic Shares
101M
101M
100M
50.94M
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Diluted Shares
101M
101M
100M
51.51M
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Cash position grew
Debt reduced
What Weakened
Margins contracted
Potential Score Impact
Positive indicators included EPS growth, cash levels, debt levels. Pressure indicators included revenue growth, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue declined 43.3%. EPS increased 102.0%. Cash increased 25.3%. Total debt declined 6.5%. Net income margin declined by 27.7 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
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Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
Premium includes stored forecasts and any available evaluated results. Completed results, win rates and calibrated probabilities are shown only when supported records exist; access does not create historical outcomes.