Six Flags Entertainment Corporation

FUN

Consumer CyclicalSmall CapUS Equities · NYSE / NASDAQ

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Company Profile

Six Flags Entertainment Corporation operates amusement parks and resort properties in North America. It operates amusement parks, water parks, and resorts in the United States, Mexico, and Canada. The company was formerly known as Cedar Fair, L.P. and changed its name to Six Flags Entertainment Corporation in July 2024. The company was founded in 1983 and is headquartered in Charlotte, North Carolina.

Valuation

Market Cap$2.2B

Current Price$23.15as of Jun 23, 2026

P/E Ratio-1.40

P/B Ratio3.94

EV / EBITDA-8.62

EV / Sales2.41

Profitability

Operating Margin6.0%

Net Profit Margin-50.0%

EBITDA Margin-28.0%

Returns

ROE-281.8%

ROCE2.6%

ROIC %-

ROA-19.9%

Solvency

Current Ratio0.69

Debt / Equity9.82

Debt / Assets0.69

CFO / Net Profit-0.21

Price History▼ 24.09% over 1Y

Technical Chart

Historical Performance Charts

5-year financial trends. Figures in USD millions.

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Latest fiscal year: 2025

Revenue$3.1B▲ 14.4%

EBITDA$-867M▼ 247.7%

Net Profit$-1.5B▲ 649.7%

Cash from Ops (CFO)$327M▼ 12.3%

Free Cash Flow (FCF)$-152M▼ 389.4%

Revenue CAGR 3Y19.5%

Revenue CAGR 5Y-

Net Profit CAGR 3Y-

Net Profit CAGR 5Y-

Historical Growth

Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)

Year	Revenue	EBITDA	Net Profit	FCF	ROE	Rev Growth 1Y	NP Growth 1Y
2025	$3.1B	$-867M	$-1.5B	$-152M	-281.8%	14.4%	649.7%
2024	$2.7B	$587M	$-207M	$53M	-10.1%	50.6%	-265.9%
2023	$1.8B	$470M	$125M	$105M	-21.4%	-1.0%	-59.5%
2022	$1.8B	$673M	$308M	$224M	-52.0%	-	-

Financial Statements

Income statement, balance sheet, and cash flow as reported

Consolidated Figures in USD Millions.

Metric	2021	2022	2023	2024	2025
Total Revenue	-	1,817.38	1,798.67	2,708.93	3,100.29
Operating Revenue	-	1,817.38	1,798.67	2,708.93	3,100.29
Cost Of Revenue	-	164.25	159.83	232.56	269.70
Gross Profit	-	1,653.14	1,638.84	2,476.37	2,830.58
Operating Expense	-	1,278.17	1,314.61	2,105.34	2,646.03
Selling General And Administration	-	176.33	207.08	411.16	439.39
Total Expenses	-	1,442.42	1,474.44	2,337.89	2,915.74
Operating Income	-	374.97	324.23	371.03	184.55
Total Operating Income As Reported	-	519.94	306.16	310.51	-1,375.01
EBITDA	-	673.25	469.55	587.06	-867.10
Normalized EBITDA	-	504.44	487.62	655.56	692.46
EBIT	-	519.98	311.55	268.95	-1,353.49
Interest Expense	-	148.32	138.95	234.77	359.96
Net Interest Income	-	-148.32	-138.95	-234.77	-359.96
Other Non Operating Income Expenses	-	-23.80	5.39	-33.58	21.52
Other Income Expense	-	145.01	-12.68	-102.08	-1,538.04
Interest Expense Non Operating	-	148.32	138.95	234.77	359.96
Net Non Operating Interest Income Expense	-	-148.32	-138.95	-234.77	-359.96
Pretax Income	-	371.66	172.60	34.18	-1,713.45
Tax Provision	-	63.99	48.04	240.84	-163.98
Tax Rate For Calcs	-	0	0	0	0
Tax Effect Of Unusual Items	-	29.06	-5.03	-14.38	-149.25
Net Income Continuous Operations	-	307.67	124.56	-206.66	-1,549.47
Net Income From Continuing And Discontinued Operation	-	307.67	124.56	-206.66	-1,549.47
Net Income From Continuing Operation Net Minority Interest	-	307.67	124.56	-206.66	-1,549.47
Net Income	-	307.67	124.56	-206.66	-1,549.47
Net Income Common Stockholders	-	307.67	124.56	-231.16	-1,599.10
Net Income Including Noncontrolling Interests	-	307.67	124.56	-206.66	-1,549.47
Normalized Income	-	167.93	137.60	-152.55	-139.16
Diluted NI Availto Com Stockholders	-	307.67	124.56	-231.16	-1,599.10
Basic Average Shares	-	52.56	51.01	100.35	100.66
Diluted Average Shares	-	56.45	51.47	100.35	100.66
Reconciled Depreciation	-	153.27	158	318.11	486.38
Reconciled Cost Of Revenue	-	164.25	159.83	232.56	269.70
Total Unusual Items	-	168.81	-18.07	-68.50	-1,559.56
Total Unusual Items Excluding Goodwill	-	168.81	-18.07	-68.50	-1,559.56
Preferred Stock Dividends	-	0	0	24.50	49.63
Special Income Charges	-	143.16	-18.07	-68.50	-1,559.56
Other Special Charges	5.91	1.81	-	7.97	-
Impairment Of Capital Assets	-	0	0	42.46	1,518.10
Gain On Sale Of Security	12.82	25.64	5.52	-	-
Depreciation Amortization Depletion Income Statement	-	153.27	158	318.11	486.38
Depreciation And Amortization In Income Statement	-	153.27	158	318.11	486.38
Gain On Sale Of Ppe	-	144.98	-18.07	-18.06	-41.46
Other Operating Expenses	-	948.57	949.53	1,376.06	1,720.26

Peer Comparison

Consumer Cyclical sector peers, ranked by market cap

Company	Ticker	Market Cap	P/E	P/B	ROE	EV/EBITDA
Six Flags Entertainment Corporationthis co.	FUN	$2.2B	-1.40	3.94	-281.8%	-8.62
Ardagh Metal Packaging S.A.	AMBP	$2.4B	-	-	1.6%	9.62
Capri Holdings Limited	CPRI	$2.2B	15.83	27.11	171.3%	17.36
Brightstar Lottery PLC	BRSL	$2.1B	14.48	2.43	16.8%	5.24
Driven Brands Holdings Inc.	DRVN

Learn while you research

Hand-picked academy chapters to deepen your understanding of Six Flags Entertainment Corporation and the metrics that matter.

01 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read 02 Leverage Ratios

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Year

Revenue

EBITDA

Net Profit

FCF

ROE

Rev Growth 1Y

NP Growth 1Y

2025

$3.1B

$-867M

$-1.5B

$-152M

-281.8%

14.4%

649.7%

2024

$2.7B

$587M

$-207M

$53M

-10.1%

50.6%

-265.9%

2023

$1.8B

$470M

$125M

$105M

-21.4%

-1.0%

-59.5%

2022

$1.8B

$673M

$308M

$224M

-52.0%

Metric

2021

2022

2023

2024

2025

Total Revenue

1,817.38

1,798.67

2,708.93

3,100.29

Operating Revenue

1,817.38

1,798.67

2,708.93

3,100.29

Cost Of Revenue

164.25

159.83

232.56

269.70

Gross Profit

1,653.14

1,638.84

2,476.37

2,830.58

Operating Expense

1,278.17

1,314.61

2,105.34

2,646.03

Selling General And Administration

176.33

207.08

411.16

439.39

Total Expenses

1,442.42

1,474.44

2,337.89

2,915.74

Operating Income

374.97

324.23

371.03

184.55

Total Operating Income As Reported

519.94

306.16

310.51

-1,375.01

EBITDA

673.25

469.55

587.06

-867.10

Normalized EBITDA

504.44

487.62

655.56

692.46

EBIT

519.98

311.55

268.95

-1,353.49

Interest Expense

148.32

138.95

234.77

359.96

Net Interest Income

-148.32

-138.95

-234.77

-359.96

Other Non Operating Income Expenses

-23.80

5.39

-33.58

21.52

Other Income Expense

145.01

-12.68

-102.08

-1,538.04

Interest Expense Non Operating

148.32

138.95

234.77

359.96

Net Non Operating Interest Income Expense

-148.32

-138.95

-234.77

-359.96

Pretax Income

371.66

172.60

34.18

-1,713.45

Tax Provision

63.99

48.04

240.84

-163.98

Tax Rate For Calcs

Tax Effect Of Unusual Items

29.06

-5.03

-14.38

-149.25

Net Income Continuous Operations

307.67

124.56

-206.66

-1,549.47

Net Income From Continuing And Discontinued Operation

307.67

124.56

-206.66

-1,549.47

Net Income From Continuing Operation Net Minority Interest

307.67

124.56

-206.66

-1,549.47

Net Income

307.67

124.56

-206.66

-1,549.47

Net Income Common Stockholders

307.67

124.56

-231.16

-1,599.10

Net Income Including Noncontrolling Interests

307.67

124.56

-206.66

-1,549.47

Normalized Income

167.93

137.60

-152.55

-139.16

Diluted NI Availto Com Stockholders

307.67

124.56

-231.16

-1,599.10

Basic Average Shares

52.56

51.01

100.35

100.66

Diluted Average Shares

56.45

51.47

100.35

100.66

Reconciled Depreciation

153.27

158

318.11

486.38

Reconciled Cost Of Revenue

164.25

159.83

232.56

269.70

Total Unusual Items

168.81

-18.07

-68.50

-1,559.56

Total Unusual Items Excluding Goodwill

168.81

-18.07

-68.50

-1,559.56

Preferred Stock Dividends

24.50

49.63

Special Income Charges

143.16

-18.07

-68.50

-1,559.56

Other Special Charges

5.91

1.81

7.97

Impairment Of Capital Assets

42.46

1,518.10

Gain On Sale Of Security

12.82

25.64

5.52

Depreciation Amortization Depletion Income Statement

153.27

158

318.11

486.38

Depreciation And Amortization In Income Statement

153.27

158

318.11

486.38

Gain On Sale Of Ppe

144.98

-18.07

-18.06

-41.46

Other Operating Expenses

948.57

949.53

1,376.06

1,720.26

Company

Ticker

Market Cap

P/E

P/B

ROE

EV/EBITDA

Six Flags Entertainment Corporationthis co.

FUN

$2.2B

-1.40

3.94

-281.8%

-8.62

Ardagh Metal Packaging S.A.

AMBP

$2.4B

1.6%

9.62

Capri Holdings Limited

CPRI

$2.2B

15.83

27.11

171.3%

17.36

Brightstar Lottery PLC

BRSL

$2.1B

14.48

2.43

16.8%

5.24

Driven Brands Holdings Inc.

DRVN

Six Flags Entertainment Corporation

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Six Flags Entertainment Corporation

Valuation

Profitability

Returns

Solvency

Historical Performance Charts

Revenue vs Net Profit (5Y)

Free Cash Flow vs Operating Cash Flow (5Y)

Operating Margin % (5Y)

Growth Summary

Historical Growth

Financial Statements

Peer Comparison

Key concepts to brush up on