Six Flags Entertainment Corp
FUN—
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Six Flags Entertainment Corp AI Insights
Informational only. Not investment advice.Snapshot
- Asset impairment of 1.5B TTM drove net loss of -1.7B; goodwill at 2.1B (336% of equity) signals ongoing write-down risk.[Asset Impairment Charge TTM]
- Debt/equity of 8.5x with 5.2B total debt vs 614M equity; interest expense of 349M TTM exceeds operating income of 248M.[Debt to Equity]
- Gross margin 91% TTM vs industry median 52% reflects asset-light ops, but FCF is -169M due to 501M capex.[Gross Margin TTM]
Watch Triggers
- Interest Expense TTM: Exceeds operating income for 2+ consecutive quarters — Signals inability to service debt from operations; refinancing becomes critical.
- Free Cash Flow TTM: Remains negative beyond FY2025 — Negative FCF with 5.2B debt and 71M cash creates liquidity crisis risk.
- Goodwill: Additional impairment charges announced — Further write-downs would push equity negative, triggering covenant issues.
Bull Case
91% gross margin TTM (vs 52% median) shows pricing power; 5-year revenue growth of 72% indicates successful expansion post-merger.
Gross Margin TTMTotal Revenue 5yr Growth
P/S of 0.49 TTM vs industry median 1.48 implies market pricing in worst case; EV of 6.7B for 3.1B revenue.
PS RatioEnterprise Value
Bear Case
Interest expense 349M TTM exceeds operating income 248M; company is operationally insolvent without refinancing or asset sales.
Interest Expense TTMOperating Income TTM
Tangible book value is -2.2B; goodwill of 2.1B (336% of equity) at risk after 1.5B impairment already taken TTM.
Tangible Book ValueGoodwill
Bull vs Bear Balance
AI-generated sentiment analysis based on fundamental metrics and market conditions.
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Forward Thesis
Merger synergies must materialize within 18 months or debt load becomes unsustainable.
1-3ymed
- Interest expense 349M exceeds 248M operating income TTM
- FCF negative at -169M despite 333M operating cash flow
- 5.2B debt with only 71M cash on hand
Debt/equity 8.5x vs industry normNet debt 5.0B vs 614M equityCapex 501M TTM (16% of revenue)
Valuation Context
Caveats
Public Strategies Rankings
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FUN Fundamentals
Arts, Entertainment, and Recreation → Amusement, Gambling, and Recreation Industries
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$1.78B | — | ||
$7.09B | — | ||
0.00 | — | ||
$3.1B | +14.4% | — | |
$-15.89 | — | ||
5.95% | -7.7% | — | |
-50.0% | -42.3% | — | |
$-152.2M | — | ||
-120% | — | ||
Beta 5Y (Monthly) | unknown | — |
FUN Dividend History
87 dividends
2024
$2.130006/28/24$1.5300
06/05/24$0.3000
03/05/24$0.3000
2023
$1.200012/05/23$0.3000
09/05/23$0.3000
06/06/23$0.3000
03/06/23$0.3000
2022
$0.600011/30/22$0.3000
08/30/22$0.3000
2020
$0.935003/03/20$0.9350
2019
$3.710012/03/19$0.9350
09/03/19$0.9250
06/03/19$0.9250
03/08/19$0.9250
2018
$3.595012/03/18$0.9250
09/04/18$0.8900
06/01/18$0.8900
03/08/18$0.8900
2017
$3.455012/01/17$0.8900
09/01/17$0.8550
06/01/17$0.8550
03/01/17$0.8550
2016
$3.330012/01/16$0.8550
09/01/16$0.8250
06/01/16$0.8250
03/10/16$0.8250
2015
$3.075012/01/15$0.8250
09/01/15$0.7500
06/01/15$0.7500
03/11/15$0.7500
2014
$2.850012/01/14$0.7500
09/02/14$0.7000
06/02/14$0.7000
03/12/14$0.7000
2013
$2.575012/02/13$0.7000
09/03/13$0.6250
06/03/13$0.6250
03/13/13$0.6250
2012
$1.600012/03/12$0.4000
08/31/12$0.4000
06/01/12$0.4000
03/01/12$0.4000
2011
$1.000012/01/11$0.7000
09/01/11$0.1200
06/01/11$0.1000
03/01/11$0.0800
2010
$0.250012/01/10$0.2500
2009
$1.230011/02/09$0.2500
08/03/09$0.2500
05/01/09$0.2500
02/02/09$0.4800
2008
$1.915011/03/08$0.4800
08/01/08$0.4800
05/01/08$0.4800
02/01/08$0.4750
2007
$1.895011/01/07$0.4750
08/01/07$0.4750
05/01/07$0.4750
02/01/07$0.4700
2006
$1.870011/01/06$0.4700
07/03/06$0.4700
04/03/06$0.4700
01/03/06$0.4600
2005
$1.830010/03/05$0.4600
07/01/05$0.4600
04/01/05$0.4600
01/03/05$0.4500
2004
$1.790010/01/04$0.4500
07/01/04$0.4500
04/01/04$0.4500
01/02/04$0.4400
2003
$1.740010/01/03$0.4400
07/01/03$0.4400
04/01/03$0.4400
01/02/03$0.4200
2002
$1.650010/01/02$0.4200
07/01/02$0.4100
04/01/02$0.4100
01/02/02$0.4100
2001
$1.580010/01/01$0.4100
07/02/01$0.3900
04/02/01$0.3900
01/02/01$0.3900
2000
$1.502510/02/00$0.3900
07/03/00$0.3750
04/03/00$0.3750
01/03/00$0.3625
FUN Stock Splits
No stock splits
FUN SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/26/26 | 12/31/25 | 10-K | |
11/07/25 | 09/28/25 | 10-Q | |
08/06/25 | 06/29/25 | 10-Q | |
05/08/25 | 03/30/25 | 10-Q | |
03/03/25 | 12/31/24 | 10-K | |
11/06/24 | 09/29/24 | 10-Q | |
08/08/24 | 06/30/24 | 10-Q | |
05/09/24 | 03/31/24 | 10-Q | |
02/16/24 | 12/31/23 | 10-K | |
11/02/23 | 09/24/23 | 10-Q | |
08/03/23 | 06/25/23 | 10-Q | |
05/04/23 | 03/26/23 | 10-Q | |
02/17/23 | 12/31/22 | 10-K | |
11/02/22 | 09/25/22 | 10-Q | |
08/03/22 | 06/26/22 | 10-Q | |
05/04/22 | 03/27/22 | 10-Q | |
02/18/22 | 12/31/21 | 10-K | |
11/03/21 | 09/26/21 | 10-Q | |
08/05/21 | 06/27/21 | 10-Q | |
05/05/21 | 03/28/21 | 10-Q | |
02/19/21 | 12/31/20 | 10-K | |
11/04/20 | 09/27/20 | 10-Q | |
08/05/20 | 06/28/20 | 10-Q | |
05/06/20 | 03/29/20 | 10-Q | |
02/21/20 | 12/31/19 | 10-K | |
11/06/19 | 09/29/19 | 10-Q | |
08/07/19 | 06/30/19 | 10-Q | |
05/08/19 | 03/31/19 | 10-Q | |
02/22/19 | 12/31/18 | 10-K | |
10/30/18 | 09/23/18 | 10-Q | |
08/01/18 | 06/24/18 | 10-Q | |
05/02/18 | 03/25/18 | 10-Q | |
02/23/18 | 12/31/17 | 10-K | |
11/02/17 | 09/24/17 | 10-Q | |
08/02/17 | 06/25/17 | 10-Q | |
05/03/17 | 03/26/17 | 10-Q | |
02/24/17 | 12/31/16 | 10-K | |
11/02/16 | 09/25/16 | 10-Q | |
08/03/16 | 06/26/16 | 10-Q | |
05/04/16 | 03/27/16 | 10-Q | |
02/26/16 | 12/31/15 | 10-K | |
11/05/15 | 09/27/15 | 10-Q | |
08/04/15 | 06/28/15 | 10-Q | |
05/01/15 | 03/29/15 | 10-Q | |
02/26/15 | 12/31/14 | 10-K | |
11/06/14 | 09/28/14 | 10-Q | |
08/07/14 | 06/29/14 | 10-Q | |
05/09/14 | 03/30/14 | 10-Q | |
02/26/14 | 12/31/13 | 10-K | |
11/07/13 | 09/29/13 | 10-Q | |
08/08/13 | 06/30/13 | 10-Q | |
05/10/13 | 03/31/13 | 10-Q | |
02/25/13 | 12/31/12 | 10-K | |
11/07/12 | 09/30/12 | 10-Q | |
08/10/12 | 07/01/12 | 10-Q | |
05/04/12 | 03/25/12 | 10-Q | |
02/29/12 | 12/31/11 | 10-K | |
11/04/11 | 09/25/11 | 10-Q | |
08/05/11 | 06/26/11 | 10-Q | |
05/06/11 | 03/27/11 | 10-Q | |
03/01/11 | 12/31/10 | 10-K | |
05/10/13 | 12/31/10 | 10-K/A | |
11/05/10 | 09/26/10 | 10-Q | |
08/06/10 | 06/27/10 | 10-Q | |
05/07/10 | 03/28/10 | 10-Q | |
02/26/10 | 12/31/09 | 10-K | |
11/06/09 | 09/30/09 | 10-Q | |
08/07/09 | 06/30/09 | 10-Q | |
05/08/09 | 03/31/09 | 10-Q | |
03/02/09 | 12/31/08 | 10-K | |
11/07/08 | 09/30/08 | Unknown | -- |
08/08/08 | 06/30/08 | Unknown | -- |
05/09/08 | 03/30/08 | Unknown | -- |
02/29/08 | 12/31/07 | Unknown | -- |
11/09/07 | 09/30/07 | Unknown | -- |
08/03/07 | 06/30/07 | Unknown | -- |
05/04/07 | 03/30/07 | Unknown | -- |
03/01/07 | 12/31/06 | Unknown | -- |
11/03/06 | 09/30/06 | Unknown | -- |
08/04/06 | 06/30/06 | Unknown | -- |
05/04/06 | 03/30/06 | Unknown | -- |
03/14/06 | 12/31/05 | Unknown | -- |
11/03/05 | 09/30/05 | Unknown | -- |
08/04/05 | 06/30/05 | Unknown | -- |
05/11/05 | 03/30/05 | Unknown | -- |
03/16/05 | 12/31/04 | Unknown | -- |
11/05/04 | 09/30/04 | Unknown | -- |
08/04/04 | 06/30/04 | Unknown | -- |
05/07/04 | 03/30/04 | Unknown | -- |
03/15/04 | 12/31/03 | Unknown | -- |
11/12/03 | 09/30/03 | Unknown | -- |
08/12/03 | 06/30/03 | Unknown | -- |
05/08/03 | 03/30/03 | Unknown | -- |
03/28/03 | 12/31/02 | Unknown | -- |
11/13/02 | 09/30/02 | Unknown | -- |
08/14/02 | 06/30/02 | Unknown | -- |
05/15/02 | 03/30/02 | Unknown | -- |
04/01/02 | 12/31/01 | Unknown | -- |
11/14/01 | 09/30/01 | Unknown | -- |
08/08/01 | 06/30/01 | Unknown | -- |
05/09/01 | 03/30/01 | Unknown | -- |
03/30/01 | 12/31/00 | Unknown | -- |
11/08/00 | 09/30/00 | Unknown | -- |
08/09/00 | 06/30/00 | Unknown | -- |
05/10/00 | 03/30/00 | Unknown | -- |