Six Flags Entertainment Corporation/NEW
Six Flags Entertainment Corporation/NEW is classified under Technology / Software and appears not currently profitable on the latest normalized snapshot.
Business. Six Flags Entertainment Corporation/NEW (NYSE: FUN) is classified within the Software & IT Services sector, specifically operating in the Application Software industry. The company generates revenue through a subscription model, with performance typically tracked using key metrics such as annual recurring revenue and net revenue retention. No specific operating segments or geographic breakdowns are provided in the available data. The company is primarily listed on the New York Stock Exchange under the ticker symbol FUN.
At a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ2 2026 earnings (expected)2026-07-28 · estimated
- Peers
- EarningsQ2 2026 earnings (expected)2026-07-28 · estimated · ServiceNow (NOW)
- EarningsQ2 2026 earnings (expected)2026-08-28 · estimated · Salesforce (CRM)
- Macro
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-07-08 · AU
- Rate decisionBank of Canada rate decision (press conf.)2026-07-15 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-07-16 · EU
- Rate decisionBank of Japan rate decision (press conf.)2026-07-16 · JP
- Rate decisionFederal Reserve rate decision (press conf.)2026-07-29 · US
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
- Congressional trades
- CongressLisa McClain — Six Flags Entertainment Corporation2025-08-13 · Republican · MI · Sale · $1,001 - $15,000
- CongressLisa McClain — Six Flags Entertainment Corporation2025-07-16 · Republican · MI · Purchase · $1,001 - $15,000
Pre-earnings brief
Six Flags Entertainment Corporation (FUN) has recorded significant modifications in its institutional holding structure, marking the first available analysis for the ticker. The most material development involves a major severity holder change detected in late June 2026, where investor ID 587 adjusted their position substantially. This activity represents a notable shift in ownership concentration for the amusement park operator, drawing attention to changes in investor sentiment or portfolio rebalancing. The specific transaction details reveal a dramatic swing in share count for the identified investor. Data indicates the investor held 562 shares, valued at approximately $0.01 million, before increasing their position to 9,027 shares, valued at roughly $0.16 million. This adjustment, as of March 31, 2026, resulted in a weight percentage change from roughly 0.000006% to 0.000093% of the total holdings. The reversal and confirmation of these figures were detected on June 21 and June 25, 2026, respectively. This holder activity occurs within a broader context where Six Flags maintains a base of 27 top holders. Despite this active trading by a single entity, the company currently reports zero analyst coverage and zero index memberships according to the available data. The absence of analyst ratings or index inclusion suggests that the recent holder changes are driven by private institutional decisions rather than broad market consensus or index-driven flows. The significance of these changes lies in the visibility of institutional interest in a company with limited public analyst scrutiny. With no prior basis for delta computation due to this being the first analysis, the magnitude of the share adjustment by investor ID 587 stands out as a primary signal of engagement. For stakeholders, this highlights the importance of monitoring holder changes as a key indicator of confidence in Six Flags' operational and financial trajectory, particularly in the absence of traditional analyst metrics.
Signals & dispatch
Composite-score breakdown
Synthesis
Six Flags Entertainment Corporation/NEW (NYSE: FUN) is classified within the Software & IT Services sector, specifically operating in the Application Software industry. The company generates revenue through a subscription model, with performance typically tracked using key metrics such as annual recurring revenue and net revenue retention. No specific operating segments or geographic breakdowns are provided in the available data. The company is primarily listed on the New York Stock Exchange under the ticker symbol FUN.
Six Flags Entertainment Corporation/NEW (FUN) is currently classified as Application Software within Software (Technology). Classification confidence: 0.66 (rule-based classification). Capital structure on the latest snapshot: total assets 7,708,879,000 USD, total equity 279,226,000, short-term debt 15,038,000, long-term debt 5,340,489,000. Net cash position is approximately -5,239,017,000 USD. Self-calculated market cap is 2,354,452,000 USD (market_price × shares_outstanding_diluted). Profitability profile: revenue 225,627,000, gross profit 0, operating income -312,243,000, net income -268,600,000. Return on equity ~-572.7%. Return on assets ~-20.7%. Operating-cash-flow to net-income ratio is -0.20. Risk profile from automated assessment: liquidity risk high, dilution risk medium. Flags: Current liabilities exceed current assets.; Net cash is negative after subtracting total debt.; Source documents mention dilution or offering risk.. Recent news context: [TRIGGER] 8-K: 8-K (sec_8k_material) on FUN — filing_type=8-K; max_severity=high; ignored_items=['7.01', '9.01']; material_items=['5.02']; all_items_found=['5.02', '7.01', '9.01']; severity_per_code={'5.02': 'high'}; contributing_watchers=sec_8k_material (source=sec_8k_material; url=0001999001-26-000087). Additional context: 8-K: filing_type=8-K; max_severity=high; ignored_items=['7.01', '9.01']; material_items=['5.02']; all_items_found=['5.02', '7.01', '9.01']; severity_per_code={'5.02': 'high'}; contributing_watchers=sec_8k_material. Comparable peers identified within the same class: Microsoft, Salesforce, ServiceNow.
Six Flags Entertainment Corporation (FUN) has recorded significant modifications in its institutional holding structure, marking the first available analysis for the ticker. The most material development involves a major severity holder change detected in late June 2026, where investor ID 587 adjusted their position substantially. This activity represents a notable shift in ownership concentration for the amusement park operator, drawing attention to changes in investor sentiment or portfolio rebalancing. The specific transaction details reveal a dramatic swing in share count for the identified investor. Data indicates the investor held 562 shares, valued at approximately $0.01 million, before increasing their position to 9,027 shares, valued at roughly $0.16 million. This adjustment, as of March 31, 2026, resulted in a weight percentage change from roughly 0.000006% to 0.000093% of the total holdings. The reversal and confirmation of these figures were detected on June 21 and June 25, 2026, respectively. This holder activity occurs within a broader context where Six Flags maintains a base of 27 top holders. Despite this active trading by a single entity, the company currently reports zero analyst coverage and zero index memberships according to the available data. The absence of analyst ratings or index inclusion suggests that the recent holder changes are driven by private institutional decisions rather than broad market consensus or index-driven flows. The significance of these changes lies in the visibility of institutional interest in a company with limited public analyst scrutiny. With no prior basis for delta computation due to this being the first analysis, the magnitude of the share adjustment by investor ID 587 stands out as a primary signal of engagement. For stakeholders, this highlights the importance of monitoring holder changes as a key indicator of confidence in Six Flags' operational and financial trajectory, particularly in the absence of traditional analyst metrics.
- Return on equity is about -572.7%.
- Debt to equity is about 19.18x.
- [TRIGGER] 8-K: 8-K (sec_8k_material) on FUN — filing_type=8-K; max_severity=high; ignored_items=['7.01', '9.01']; material_items=['5.02']; all_items_found=['5.02', '7.01', '9.01']; severity_per_code={'5.02': 'high'}; contributing_watchers=sec_8k_material (source=sec_8k_material; url=0001999001-26-000087)
- Likely peers from the same classification include Microsoft, Salesforce, ServiceNow.
- 3 Table of Contents SIX FLAGS ENTERTAINMENT CORPORATION UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (In thousands, except per share amounts) Three months ended March 29, 2026 March 30, 2025 Net revenues: Admissions $ 113,500 $ 106,761 Food, merchandise and games 78,264 65,848 Accommodations, extra-charge products and other 33,863 29,448 225,627 202,057 Costs and expenses: Cost of food, merchandise, and games revenues 21,287 21,601 Operating expenses 266,893 299,479 Selling, general and administrative 73,295 90,785 Depreciation and amortization 107,349 102,330 Loss on retirement of fixed assets, net 2,435 8,098 Loss on impairment of goodwill and other intangibles 38,640 — Loss on disposal group 27,971 — Loss on other assets — 791 537,870 523,084 Operating loss ( 312,243 ) ( 321,027 ) Interest expense, net 94,928 87,035 Loss on early debt extinguishment 4,053 — Other expense (income), net 5,739 ( 1,584 ) Loss before taxes ( 416,963 ) ( 406,478 ) Benefit for taxes ( 148,363 ) ( 186,760 ) Net loss ( 268,600 ) ( 219,718 ) Net loss attributable to non-controlling interests — — Net loss attributable to Six Flags Entertainment Corporation $ ( 268,600 ) $ ( 219,718 ) Net loss $ ( 268,600 ) $ ( 219,718 ) Other comprehensive (loss) income, (net of tax): Foreign currency translation ( 1,668 ) 9,038 Defined benefit retirement plan — 176 Other comprehensive (loss) income, (net of tax) ( 1,668 ) 9,214 Comprehensive loss ( 270,268 ) ( 210,504 ) Comprehensive loss attributable to non-controlling interests — — Comprehensive loss attributable to Six Flags Entertainment Corporation $ ( 270,268 ) $ ( 210,504 ) Weighted average shares of common stock outstanding (See Note 10 ) Basic 101,485 100,094 Diluted 101,485 100,094 Loss attributable to Six Flags Entertainment Corporation per share of common stock outstanding (See Note 10 ) Basic $ ( 2.65 ) $ ( 2.20 ) Diluted $ ( 2.65 ) $ ( 2.20 ) The accompanying Notes to Unaudited Consolidated Financial Statements are an integral part of these statements.
- 5 Table of Contents SIX FLAGS ENTERTAINMENT CORPORATION UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS (In thousands) Three months ended March 29, 2026 March 30, 2025 CASH FLOWS FOR OPERATING ACTIVITIES Net loss $ ( 268,600 ) $ ( 219,718 ) Adjustments to reconcile net loss to net cash for operating activities: Depreciation and amortization 107,349 102,330 Loss on early debt extinguishment 4,053 — Loss on impairment of goodwill and other intangibles 38,640 — Non-cash loss on disposal group 18,775 — Non-cash foreign currency loss (gain) on USD notes 5,493 ( 1,332 ) Non-cash equity based compensation expense 3,777 17,076 Deferred income tax benefit ( 152,946 ) ( 189,873 ) Other non-cash expenses 13,053 14,149 Changes in assets and liabilities: (Increase) decrease in receivables 31,488 19,959 (Increase) decrease in inventories ( 9,774 ) ( 13,187 ) (Increase) decrease in other assets ( 20,267 ) ( 6,056 ) Increase (decrease) in accounts payable 36,961 11,905 Increase (decrease) in deferred revenue 70,936 65,471 Increase (decrease) in accrued interest 39,313 42,159 Increase (decrease) in accrued taxes 927 ( 3,696 ) Increase (decrease) in accrued salaries, wages and benefits ( 5,202 ) ( 18,706 ) Increase (decrease) in self-insurance reserves ( 9,926 ) ( 2,961 ) Increase (decrease) in other liabilities 12,791 4,444 Net cash for operating activities ( 83,159 ) ( 178,036 ) CASH FLOWS FOR INVESTING ACTIVITIES Capital expenditures ( 53,964 ) ( 139,932 ) Net cash for investing activities ( 53,964 ) ( 139,932 ) CASH FLOWS FROM FINANCING ACTIVITIES Net borrowings on revolving credit loans 185,174 310,668 Note borrowings 1,000,000 — Note payments ( 1,000,000 ) — Payment of debt issuance costs ( 17,447 ) — Payments related to tax withholding for equity compensation ( 4,039 ) ( 14,380 ) Other — 137 Net cash from financing activities 163,688 296,425 EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS ( 1,189 ) ( 119 ) CASH AND CASH EQUIVALENTS Net increase (decrease) for the period 25,376 ( 21,662 ) Balance, beginning of period 91,134 83,174 Balance, end of period $ 116,510 $ 61,512 SUPPLEMENTAL INFORMATION Cash payments for interest $ 47,303 $ 38,145 Interest capitalized 2,351 3,199 Net cash (refunds) payments for income taxes ( 3,205 ) 1,109 Capital expenditures in accounts payable 19,109 41,507 The accompanying Notes to Unaudited Consolidated Financial Statements are an integral part of these statements.
Bull / Bear case
Generated · model-assistedSix Flags generated $310 million in operating income for FY2024, demonstrating underlying operational profitability before net losses.
The company reported $2.7 billion in revenue for FY2024, indicating a substantial scale of operations in the theme park sector.
Six Flags achieved positive net income of $124 million in a prior FY2024 period, showing historical capacity for profitability.
Six Flags reported a massive net loss of $1.6 billion for FY2025, severely impacting shareholder equity and retained earnings.
The company faces high liquidity risk with a current ratio of only 0.69, indicating potential difficulty meeting short-term obligations.
Six Flags carries a high debt-to-equity ratio of 9.42, signaling excessive leverage and significant financial distress relative to equity.
Operating income plummeted to a negative $1.4 billion in FY2025, reflecting a catastrophic collapse in core business profitability.
In focus — financials by report
Revenue $225.6M; Operating income -$312.2M.
- ▍Revenue $225.6M
- ▍Operating income -$312.2M
- ▍Net margin -119.0%
Revenue $2.45B; Operating income -$1.35B.
- ▍Revenue $2.45B
- ▍Operating income -$1.35B
- ▍Net margin -61.5%
Revenue $1.13B; Operating income -$246.5M.
- ▍Revenue $1.13B
- ▍Operating income -$246.5M
- ▍Net margin -28.2%
Revenue $3.10B; Operating income -$1.38B.
- ▍Revenue $3.10B
- ▍Operating income -$1.38B
- ▍Net margin -51.6%
Revenue $2.71B; Operating income $310.5M.
- ▍Revenue $2.71B
- ▍Operating income $310.5M
- ▍Net margin -8.5%
Revenue $2.71B; Operating income $310.5M.
- ▍Revenue $2.71B
- ▍Operating income $310.5M
- ▍Net margin -8.5%
Revenue $1.80B; Operating income $306.2M.
- ▍Revenue $1.80B
- ▍Operating income $306.2M
- ▍Net margin 6.9%
Revenue $1.80B; Operating income $306.2M.
- ▍Revenue $1.80B
- ▍Operating income $306.2M
- ▍Net margin 6.9%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | -0,41 |
| Revenue | —no estimate | —no estimate | 3,0B USD |
| Operating income | —no estimate | —no estimate | 322,2M USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Current liabilities exceed current assets.
- Net cash is negative after subtracting total debt.
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 13 038grant · 2026-01-02
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 13 038grant · 2026-01-02
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 13 038grant · 2026-01-02
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 13 038grant · 2026-01-02
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareAcquired 13 038grant · 2026-01-02
- Director · Deferred Stock Units → Common Stock, par value $0.01 per shareDisposed 7 162exercise · 2025-12-31
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Ev To Operating Cash Flowenterprise_value / operating_cash_flow
- Market Priceinput from market-data provider (delayed close or quote-shim mid)
- Return On Assetsnet_income / total_assets
- Enterprise Valuemarket_cap - net_cash
- Net Cashcash_and_equivalents + short_term_investments - short_term_debt - long_term_debt
- Return On Equitynet_income / total_equity
- Six Flags Entertainment Corporation/NEW company facts · 2026-07-04
- Six Flags Entertainment Corporation/NEW 10-Q 2026-05-07 · 2026-07-04
- Six Flags Entertainment Corporation/NEW 10-K 2026-02-26 · 2026-07-04
- Six Flags Entertainment Corporation/NEW 10-Q 2025-11-07 · 2026-07-04
- Six Flags Entertainment Corporation/NEW 10-Q 2025-08-06 · 2026-07-04
- 8-K (sec_8k_material) on FUN · 2026-07-04
- Six Flags Entertainment Corp Market data — analyst estimates · 2026-07-04
- Six Flags Entertainment Corp Market data — ESG · 2026-07-04
Ownership & reference
Top holders
- Investment Managers · as of 2026-03-310,03 %$162M
- Institutional Investor · as of 2026-03-310,01 %$60M
- Investment Managers · as of 2026-03-310,01 %$53M
- Investment Managers · as of 2026-03-310,01 %$105M
- Investment Managers · as of 2026-03-310,00 %$9M
- Investment Managers · as of 2026-03-310,00 %$26M
- Investment Managers · as of 2024-12-310,00 %$12M
- Investment Managers · as of 2026-03-310,00 %$42M
- Investment Managers · as of 2026-03-310,00 %$18M
- Investment Managers · as of 2026-03-310,00 %$65M
- Investment Managers · as of 2025-12-310,00 %$146M
- Institutional Investor · as of 2026-03-310,00 %$10M
- Funds · as of 2026-03-310,00 %$10M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$2M
- Brokerage Firms · as of 2026-03-310,00 %$2M
- Institutional Investor · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
Insider activity
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 40 595 · 2026-06-25
- Director, President & CEO · Common Stock, par value $0.01 per shareOther 122 176 · 2026-06-25
- Chief Legal Officer · Common Stock, par value $0.01 per shareOther 37 337 · 2026-06-25
- Chief Accounting Officer · Common Stock, par value $0.01 per shareOther 13 032 · 2026-06-25
- Chief Marketing Officer · Common Stock, par value $0.01 per shareOther 18 788 · 2026-06-25
- Chief Digital & Tech Officer · Common Stock, par value $0.01 per shareOther 13 032 · 2026-06-25
- Director · Common Stock, par value $0.01 per shareBought 125 000 @ $23,41$2,9M · 2026-06-15
- Director · Common Stock, par value $0.01 per shareBought 125 000 @ $23,69$3,0M · 2026-06-12
- Director · Common Stock, par value $0.01 per shareBought 2 500 @ $19,10$48K · 2026-05-21
- Director · Common Stock, par value $0.01 per shareBought 2 500 @ $19,12$48K · 2026-05-12
- Director, Executive Chair · Common Stock, par value $0.01 per shareBought 10 000 @ $19,08$191K · 2026-05-12
- Director, Executive Chair · Common Stock, par value $0.01 per shareOther 217 797 · 2026-04-16
- Chief Digital & Tech Officer · Common Stock, par value $0.01 per shareOther 3 639 @ $18,24$66K · 2026-02-23
- Chief Accounting Officer · Common Stock, par value $0.01 per shareOther 4 788 @ $18,24$87K · 2026-02-23
- Chief Legal Officer · Common Stock, par value $0.01 per shareOther 11 246 @ $18,24$205K · 2026-02-23
- Chief Operating Officer · Common Stock, par value $0.01 per shareOther 19 092 @ $18,24$348K · 2026-02-23
- Chief Commercial Officer · Common Stock, par value $0.01 per shareOther 3 887 @ $18,24$71K · 2026-02-23
- Chief Financial Officer · Common Stock, par value $0.01 per shareOther 16 469 @ $18,24$300K · 2026-02-23
- Director · Common Stock, par value $0.01 per shareOther 13 038 · 2026-01-02
- Director · Common Stock, par value $0.01 per shareOther 13 038 · 2026-01-02
- Director · Common Stock, par value $0.01 per shareOther 7 162 · 2025-12-31
- Director, Executive Chairman · Common Stock, par value $0.01 per shareOther 110 955 @ $15,34$1,7M · 2025-12-31
- Director, Executive Chairman · Common Stock, par value $0.01 per shareOther 261 000 · 2025-12-31
- Director · Common Stock, par value $0.01 per shareOther 7 162 @ $15,34$110K · 2025-12-31
Short positioning
Geographic breakdown
Intel & risk
Evidence & claims
From filings & derived data- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): -12.3%Derived (calculated)
- Net margin (FY 2025-12-31): -50.0%Derived (calculated)
- Return on equity (FY 2025-12-31): -281.8%Derived (calculated)
- Return on assets (FY 2025-12-31): -19.9%Derived (calculated)
- Current ratio (FY 2025-12-31): 0.69xDerived (calculated)
- Cash & equivalents (YoY) (2025-12-31 vs 2024-12-31): 9.6%Derived (calculated)
- Cost of revenue (YoY) (2025-12-31 vs 2024-12-31): 16.0%Derived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): -393.5%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): -393.5%Derived (calculated)
- Long-term debt (YoY) (2025-12-31 vs 2024-12-31): 9.4%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): -649.7%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): -542.8%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): 14.4%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): -73.1%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): -14.6%Derived (calculated)
- Operating cash flow (annual): USD 327.47MSEC XBRL filing
- EPS (basic) (annual): USD-PER-SHARES -16SEC XBRL filing
- Pre-tax income (annual): USD -1.71BSEC XBRL filing
- EPS (diluted) (annual): USD-PER-SHARES -16SEC XBRL filing
- Cost of revenue (annual): USD 269.7MSEC XBRL filing
- Operating income (annual): USD -1.38BSEC XBRL filing
- Current liabilities (annual): USD 685.12MSEC XBRL filing
- Shares outstanding (annual): 101.7MSEC XBRL filing
- Net income (annual): USD -1.55BSEC XBRL filing