Six Flags vs United Parks & Resorts
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The short version
- Six Flags is the larger business, with $3.1B of revenue in fiscal 2025 against $1.7B for United Parks & Resorts, about 1.9 times as much.
- Six Flags grew revenue faster (14.5%, against −3.6%).
- United Parks & Resorts kept more of each dollar of sales as operating profit (22.0% operating margin, against −44.4%).
- United Parks & Resorts turned more of its sales into free cash flow (9.8% FCF margin, against −4.9%).
- United Parks & Resorts earned a higher return on the capital invested in it (16.1%, against −17.7%).
| Latest fiscal year | FUN · FY25 | PRKS · FY25 |
|---|---|---|
| Size | ||
| Market cap | $689M | $1.4B |
| Revenue | $3.1B | $1.7B |
| Free cash flow | −$152M | $163M |
| Net income | −$1.6B | $168M |
| Growth | ||
| Revenue growth | 14.5% | −3.6% |
| 5-year growth | 76.4% | 31.0% |
| Share count change | 33.8% | −8.4% |
| Profitability | ||
| Gross margin | 91.3% | — |
| Operating margin | −44.4% | 22.0% |
| Net margin | −51.6% | 10.1% |
| FCF margin | −4.9% | 9.8% |
| Return on capital | −17.7% | 16.1% |
| Return on equity | −123.4% | — |
| Balance sheet | ||
| Net debt | $5.1B | $2.1B |
| Net debt / EBITDA | — | 4.0x |
| Dividends and buybacks | $0.0M | $160M |
| Valuation & quality | ||
| P/E | — | 11.8x |
| Piotroski F-score | 4 | 6 |
Revenue
FY16
FUN $1.3B
PRKS $1.3B
FY17
FUN $1.3B
PRKS $1.3B
FY18
FUN $1.3B
PRKS $1.4B
FY19
FUN $1.5B
PRKS $1.4B
FY20
FUN $182M
PRKS $432M
FY21
FUN $1.3B
PRKS $1.5B
FY22
FUN $1.8B
PRKS $1.7B
FY23
FUN $1.8B
PRKS $1.7B
FY24
FUN $2.7B
PRKS $1.7B
FY25
FUN $3.1B
PRKS $1.7B
FUN
PRKS
Operating margin
FY16
FUN 24.6%
PRKS 4.4%
FY17
FUN 22.3%
PRKS −15.9%
FY18
FUN 21.5%
PRKS 11.1%
FY19
FUN 21.0%
PRKS 15.3%
FY20
FUN −315.1%
PRKS −56.0%
FY21
FUN 11.1%
PRKS 28.7%
FY22
FUN 28.6%
PRKS 29.3%
FY23
FUN 17.0%
PRKS 26.6%
FY24
FUN 11.5%
PRKS 26.9%
FY25
FUN −44.4%
PRKS 22.0%
FUN
PRKS
Free cash flow
FY16
FUN $198M
PRKS $120M
FY17
FUN $143M
PRKS $19.9M
FY18
FUN $161M
PRKS $114M
FY19
FUN $72.4M
PRKS $153M
FY20
FUN −$546M
PRKS −$230M
FY21
FUN $142M
PRKS $374M
FY22
FUN $224M
PRKS $364M
FY23
FUN $105M
PRKS $200M
FY24
FUN $52.6M
PRKS $232M
FY25
FUN −$152M
PRKS $163M
FUN
PRKS
Return on capital
FY16
FUN 15.8%
PRKS 2.3%
FY17
FUN 20.2%
PRKS −8.4%
FY18
FUN 14.8%
PRKS 6.1%
FY19
FUN 14.0%
PRKS 8.5%
FY20
FUN −23.4%
PRKS −11.3%
FY21
FUN 6.4%
PRKS 26.2%
FY22
FUN 25.8%
PRKS 23.4%
FY23
FUN 13.8%
PRKS 21.2%
FY24
FUN 3.7%
PRKS 21.7%
FY25
FUN −17.7%
PRKS 16.1%
FUN
PRKS
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.