Six Flags Entertainment Corporation
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
The parks are real, the brands are well known, and the second quarter of 2026 shows operating improvement. The rating, however, is decided by the financing: in 2025, operating income before impairments covered interest expense only about 40 percent, equity has shrunk to 1.5 percent of total assets, and a payment of about $367 million comes due in January 2027. The 10-Q contains no going-concern warning; the company says liquidity and covenants are secure, and the next note does not mature until 2028. Open checkpoints: how Six Flags funds the Georgia buyout and how the fall season went. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
Six Flags is the anchor trap in its purest form: down about 70 percent in a year, the decline looks like an opportunity, but after the Cedar Fair merger about $1.46 billion of legacy Six Flags goodwill and trade names were written off, equity stood at $114.7 million on June 28, 2026, and interest expense exceeds operating profit before one-time items. The slimmed-down park portfolio is doing better in 2026. Not investment advice.
Market position
By its own account the largest regional amusement park operator in North America, with 47.4 million visits in 2025 and well-known parks such as Cedar Point, Knott's Berry Farm and Six Flags Magic Mountain.
Operating trend 2026
In the second quarter of 2026, attendance at the parks still operated rose 4 percent, revenue 2.4 percent and Adjusted EBITDA 7 percent. For full-year 2025, by contrast, Adjusted EBITDA had fallen from $875.3 million to $792.0 million.
Earnings power & interest
In 2025, operating income before impairments ($143.1 million) covered interest expense ($360.0 million) only about 40 percent. Free cash flow was −$152.2 million.
Balance sheet
Equity of $114.7 million as of June 28, 2026, about 1.5 percent of total assets; net debt of $4.88 billion, 5.8 times Adjusted EBITDA.
Leadership & shareholders
CEO, CFO, COO, marketing and legal chiefs all new within a year; the CEO bought about $248,000 of stock on Aug. 12, 2026, and major shareholder H Partners has had its founder on the board since May 2026.
Worth Noting
Six Flags made our research list through the Reddit hype scan of Oct. 17, 2026; on Oct. 13, 2026, the trading day after the fatal accident at Six Flags Over Georgia, 14.6 million shares changed hands, about six times the average of the previous 50 trading days (2.44 million). The latest periodic report is the 10-Q for June 28, 2026 (filed Aug. 6, 2026); all filings through Oct. 17, 2026, were reviewed (most recently the Form 4 of Aug. 12, 2026, and the Schedule 13G/A of Aug. 14, 2026). The third-quarter 2026 report was not yet available on Oct. 17, 2026.
Risk of confusion: today's Six Flags Entertainment Corporation (CIK 0001999001) is not the former Six Flags that was listed until June 2024; it is the successor company from the merger with Cedar Fair, L.P. (CIK 0000811532). For accounting purposes Cedar Fair is the acquirer; figures through June 2024 show Cedar Fair only.
Market value (about $830 million) from 102,316,312 shares (10-Q cover page, as of July 31, 2026) and the Oct. 16, 2026, closing price ($8.11). Cross-check with the CEO's purchase price per the Form 4 of Aug. 12, 2026 ($15.80): about $1.62 billion; the share count implied by fundamental data at the end of July 2026 (about 100.2 million) differs by about 2 percent. Prices and trading volume: NYSE closing prices.
Interest coverage is our calculation: 2025 operating income (−$1,375.0 million) plus impairments on goodwill and trade names ($1,518.1 million) = $143.1 million, divided by interest expense ($360.0 million). The residual calculation for the Georgia payment ($65 million to $115 million) is an order of magnitude based on trailing twelve-month Adjusted EBITDA and the company's 2026 guidance for capital expenditures, cash interest and cash taxes, excluding distributions to park partners and working-capital changes. Adjusted EBITDA is a company measure not defined under U.S. GAAP.
Stock Watch
This analysis is as of October 17, 2026. Stock Watch will tell you what's changed at FUN since then.
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Price history
Chart
Interactive price chart (TradingView).
52-week range: 6.80 $ to 24.90 $ · Last price: 7.50 $ (As of: October 30, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 10/30/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Leisure
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| Six Flags Entertainment Corporation FUN | 0.8 | – | 14.2 | 38.2 | -107.8 | 14.5 | -67.7 |
| Amer Sports, Inc. AS | 17.8 | 38.4 | 18.7 | 59.8 | 16.5 | 26.7 | -9.0 |
| Hasbro Inc HAS | 17.2 | – | 13.8 | 65.3 | 27.6 | 13.7 | 58.3 |
| Life Time Group Holdings Inc LTH | 9.9 | 26.9 | 16.0 | 48.0 | 17.1 | 14.3 | 81.2 |
| Acushnet Holdings Corp GOLF | 4.9 | 30.9 | 14.1 | 47.5 | 17.5 | 4.1 | 9.7 |
| Mattel Inc MAT | 4.5 | 10.1 | 8.3 | 47.6 | -9.2 | -0.6 | -18.7 |
| Planet Fitness Inc PLNT | 4.2 | 20.4 | 10.6 | 58.5 | 32.5 | 12.1 | -41.3 |
| YETI Holdings Inc YETI | 3.3 | 22.7 | 11.3 | 59.2 | 3.3 | 2.1 | 27.8 |
| OneSpaWorld Holdings Ltd OSW | 3.1 | 42.3 | 21.2 | 13.4 | 9.2 | 7.4 | 38.4 |
| Median of companies shown | 4.5 | 26.9 | 14.1 | 48.0 | 16.5 | 12.1 | 9.7 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1,289 | 317 | 178 | 3.14 | 357 | 3 | 1,973 |
| 2017 | 1,322 | 295 | 215 | 3.79 | 331 | 83 | 2,064 |
| 2018 | 1,349 | 291 | 127 | 2.23 | 351 | 21 | 2,024 |
| 2019 | 1,475 | 309 | 172 | 3.03 | 403 | -15 | 2,612 |
| 2020 | 182 | -572 | -590 | -10.45 | -417 | -672 | 2,742 |
| 2021 | 1,338 | 148 | -49 | -0.86 | 201 | -704 | 2,346 |
| 2022 | 1,817 | 520 | 308 | 5.45 | 408 | -597 | 2,282 |
| 2023 | 1,799 | 306 | 125 | 2.42 | 326 | -583 | 2,241 |
| 2024 | 2,709 | 311 | -231 | -2.30 | 373 | 2,042 | 9,131 |
| 2025 | 3,100 | -1,375 | -1,599 | -15.76 | 327 | 550 | 7,799 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
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· Total · per year
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The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q4 | -2.63 | – | 687 | 85.20 | -38.40 | -33 | -126 |
| 2025: Q1 | -2.20 | – | 202 | 98.80 | -108.70 | -178 | -318 |
| 2025: Q2 | -0.99 | -191.60 | 930 | 62.80 | -10.70 | 187 | 19 |
| 2025: Q3 | -11.80 | -979.40 | 1,318 | -2.30 | -90.10 | 356 | 256 |
| 2025: Q4 | -0.91 | – | 650 | -5.40 | -14.20 | -38 | -109 |
| 2026: Q1 | -2.65 | – | 226 | 11.70 | -119.00 | -83 | -137 |
| 2026: Q2 | -1.99 | -101.00 | 865 | -7.00 | -23.40 | 236 | 236 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Quality & Balance Sheet
Breakout & Setup
Momentum & Trend
Research
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -2.82 | -3.68 – -2.49 | 2,872 | -154.1% | 4 |
| 12/31/2027 | -0.09 | -0.68 – 0.45 | 2,980 | 96.9% | 5 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Instead of guessing what the stock is worth, we turn the question around: what free cash flow growth has to happen for today’s market value to add up? The assumptions behind it can be moved.
Today’s market value implies roughly -12.1% growth in free cash flow per year over ten years (assumptions: discount rate 10.0%, terminal growth 2.5%).
| Free cash flow (last twelve months) | $150.1M |
|---|---|
| Market cap | $753.0M |
| Free cash flow in year ten | $41.5M |
| Terminal value as a share of market value | 29.0% |
It shows which assumption is built into today’s price, not whether that assumption will hold. Every assumption can be changed with the sliders; the figures move with them.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Six Flags betreibt Freizeit- und Wasserparks und verkauft keine KI; die ausgewerteten Berichte nennen künstliche Intelligenz nur als Risiko bei Technikplattformen Dritter und als Technik, mit der das Unternehmen Schritt halten muss — ein eigener KI-Einsatz mit Geschäftswirkung oder eine Bedrohung des Parkgeschäfts durch KI ist nicht belegt.
View the full file — quotes, sources, reviewed filings
„Increased dependence on these technology platforms, including these platforms' usage of artificial intelligence, may adversely impact sales, and therefore revenues, if key systems are disrupted for an extended period of time."
Eine wachsende Abhängigkeit von diesen Technologieplattformen, einschließlich deren Einsatz künstlicher Intelligenz, kann den Absatz und damit die Umsätze beeinträchtigen, wenn wichtige Systeme über längere Zeit gestört sind.
10-K · 2026-02-26 · View SEC filing
„Information and artificial intelligence technology systems continue to evolve and, in order to remain competitive, the Company must implement new technologies and systems in a timely and efficient manner."
Informations- und KI-Systeme entwickeln sich ständig weiter; um wettbewerbsfähig zu bleiben, muss das Unternehmen neue Technologien und Systeme rechtzeitig und effizient einführen.
10-K · 2026-02-26 · View SEC filing
Filings Reviewed: 10-Q 2026-08-06 · 10-Q 2026-05-07 · 10-K 2026-02-26 · 10-Q 2025-11-07 · 10-Q 2025-08-06 · 10-K 2025-03-03
Rated on October 17, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years 19.5%
- More than 10% revenue growth is expected for the coming year 3.6%
- Share count grows by less than 3% a year 21.6%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") 9.5%
- Gross margin at 40% or higher and without meaningful erosion 35.8%
- Goodwill from acquisitions does not grow faster than revenue 26.6%
- Net debt below twice EBITDA failed
- Operating cash flow covers the profits of the last three years 2,732 m
- Return on capital at 15% or higher, or up versus two years ago -19.3%
- Insiders hold at least 10% or are net buyers 2.5%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
1/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% 10.2%
- Exp. sales growth 3Y > 5% -2.0%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% -2.0%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 8
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% –
- ROCE > 15% -19.3%
- Expected return > 10% -21.8%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 12, 2026 | Reilly John T | President & CEO | Buy | 15,713 | 15.80 | 248,265 |
| Jul 29, 2026 | Walia Ashok | Chief Financial Officer | Other | 66,738 | 0.00 | – |
| Jul 29, 2026 | Hoffman David R. | Chief Accounting Officer | Other | 16,017 | 0.00 | – |
| Jul 29, 2026 | Bennett Christopher Lawrence | Chief Legal Officer | Other | 9,343 | 0.00 | – |
The company
About the Company
Six Flags Entertainment Corporation betreibt Vergnügungsparks und Resortobjekte in Nordamerika. Sie betreibt Vergnügungsparks, Wasserparks und Resorts in den USA, Mexiko und Kanada.
- Employees
- 4,225
- Headquarters
- Charlotte, NC
- Address
- 8701 Red Oak Boulevard, 28217 Charlotte, United States
- Phone
- 704 414 4700
- Website
- sixflags.com
- IPO Date
- 04/23/1987
- ISIN
- US83001C1080
- Stock Split
- 2:1 on 11/18/1997
Management
| Name | Title | Birth Year |
|---|---|---|
| John T. Reilly | CEO, President & Director | 1969 |
| Tim V. Fisher | Special Advisor | 1961 |
| Richard M. Haddrill | Executive Chairman | 1953 |
| Ashok Walia | Chief Financial Officer | 1964 |
| Mark Pauls | Chief Operating Officer | 1963 |
| David R. Hoffman | Chief Accounting Officer | 1969 |
| Michael Russell | Corporate Director of Investor Relations | – |
| Christopher L. Bennett Esq. | Chief Legal & Compliance Officer and Secretary | 1970 |
| Scott Tanner | Corporate Vice President of Sales - Cedar Fair Management Co. | – |
| Amy Martin Ziegenfuss | Chief Marketing Officer | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 08/06/2026 Six Flags Entertainment Corporation/NEW (FUN): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
Data as of: October 30, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.