Tearsheet

Six Flags Entertainment (FUN)


Market Price (10/31/2025): $22.65 | Market Cap: $2.3 Bil
Sector: Consumer Discretionary | Industry: Leisure Facilities

Six Flags Entertainment (FUN)


Market Price (10/31/2025): $22.65
Market Cap: $2.3 Bil
Sector: Consumer Discretionary
Industry: Leisure Facilities

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 68%
Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20%
Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 238%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -46%
  Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 38x
2   Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.2%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -23%
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 68%
1 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -46%
2 Meaningful short interest
Short Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 20%
3 Debt is significant
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is 238%
4 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 38x
5 Not cash flow generative
FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -6.2%
6 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -23%

Market Valuation & Key Metrics

FUN Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
FUN Return------53%-47%
Peers Return20%60%-31%-15%148%554%1720%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
FUN Win Rate----40%11% 
Peers Win Rate27%28%17%49%43%36% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
FUN Max Drawdown------58% 
Peers Max Drawdown-22%-12%-34%-21%-35%-53% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: DIS, MTN, BREA, DOGZ, GDHG. See FUN Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

FUN has limited trading history. Below is the Consumer Discretionary sector ETF (XLY) in its place.

Unique KeyEventXLYS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-40.3%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven67.4%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven680 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-33.9%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven51.3%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven82 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-21.9%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven28.1%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven105 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-60.1%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven150.8%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven779 days1480 days

Compare to


In The Past

SPDR Select Sector Fund's stock fell -40.3% during the 2022 Inflation Shock from a high on 11/19/2021. A -40.3% loss requires a 67.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Six Flags Entertainment (FUN)

Better Bets than Six Flags Entertainment (FUN)

Trade Ideas

Select past ideas related to FUN. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-14.4%-14.4%-22.1%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-17.3%-17.3%-17.3%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-11.9%-11.9%-11.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-0.0%-0.0%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
4.5%4.5%-11.7%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-14.4%-14.4%-22.1%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-17.3%-17.3%-17.3%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-11.9%-11.9%-11.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-0.0%-0.0%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
4.5%4.5%-11.7%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Six Flags Entertainment

Financials

FUNDISMTNBREADOGZGDHGMedian
NameSix Flag.Walt Dis.Vail Res.Brera Dogness Golden H. 
Mkt Price22.58111.84145.27-11.574.1122.58
Mkt Cap2.3201.25.3---5.3
Rev LTM3,16894,5352,964---3,168
Op Inc LTM14013,974538---538
FCF LTM-19711,548320---320
FCF 3Y Avg117,450340---340
CFO LTM31419,145555---555
CFO 3Y Avg32313,329594---594

Growth & Margins

FUNDISMTNBREADOGZGDHGMedian
NameSix Flag.Walt Dis.Vail Res.Brera Dogness Golden H. 
Rev Chg LTM67.9%5.0%2.7%---5.0%
Rev Chg 3Y Avg25.9%5.3%5.7%---5.7%
Rev Chg Q62.8%2.1%2.2%---2.2%
QoQ Delta Rev Chg LTM12.8%0.5%0.2%---0.5%
Op Mgn LTM4.4%14.8%18.1%---14.8%
Op Mgn 3Y Avg13.6%11.9%18.8%---13.6%
QoQ Delta Op Mgn LTM-2.1%0.2%-0.4%----0.4%
CFO/Rev LTM9.9%20.3%18.7%---18.7%
CFO/Rev 3Y Avg15.1%14.5%20.4%---15.1%
FCF/Rev LTM-6.2%12.2%10.8%---10.8%
FCF/Rev 3Y Avg2.0%8.1%11.7%---8.1%

Valuation

FUNDISMTNBREADOGZGDHGMedian
NameSix Flag.Walt Dis.Vail Res.Brera Dogness Golden H. 
Mkt Cap2.3201.25.3---5.3
P/S0.72.11.8---1.8
P/EBIT38.315.79.2---15.7
P/E-5.417.418.9---17.4
P/CFO7.210.59.6---9.6
Total Yield-18.6%6.1%6.8%---6.1%
Dividend Yield0.0%0.4%1.5%---0.4%
FCF Yield 3Y Avg-3.8%4.8%---4.3%
D/E2.40.20.6---0.6
Net D/E2.40.20.6---0.6

Returns

FUNDISMTNBREADOGZGDHGMedian
NameSix Flag.Walt Dis.Vail Res.Brera Dogness Golden H. 
1M Rtn-0.6%-2.3%-1.5%--10.2%-45.2%-2.3%
3M Rtn-24.6%-6.1%-1.9%-47.0%-46.3%-6.1%
6M Rtn-35.3%23.7%6.9%--25.0%-96.4%-25.0%
12M Rtn-44.9%18.7%-9.2%--76.9%-99.5%-44.9%
3Y Rtn-6.7%-24.2%--39.7%--24.2%
1M Excs Rtn-2.1%-2.6%-6.0%--14.6%-46.9%-6.0%
3M Excs Rtn-33.3%-13.4%-10.4%-42.5%-58.8%-13.4%
6M Excs Rtn-57.1%1.9%-14.8%--46.8%-118.2%-46.8%
12M Excs Rtn-63.5%0.1%-27.3%--92.4%-116.6%-63.5%
3Y Excs Rtn--67.8%-101.0%--114.6%--101.0%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Amusement and water parks with accompanying resort facilities1,7991,817   
Accommodations, extra-charge products and other  23137206
Admissions  67568795
Food, merchandise and games  43377473
Total1,7991,8171,3381821,475


Price Behavior

Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity19,647,169
Short Interest: % Change Since 9302025-1.9%
Average Daily Volume3,349,756
Days-to-Cover Short Interest5.87
Basic Shares Quantity100,652,000
Short % of Basic Shares19.5%

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/6/2025-20.8%-16.6%-16.7%
5/8/2025-4.6%2.2%-7.9%
2/27/2025-5.7%-10.8%-19.3%
8/8/20243.1%-1.1%-3.7%
SUMMARY STATS   
# Positive110
# Negative334
Median Positive3.1%2.2% 
Median Negative-5.7%-10.8%-12.3%
Max Positive3.1%2.2% 
Max Negative-20.8%-16.6%-19.3%

SEC Filings

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Report DateFiling DateFiling
6302025806202510-Q 6/29/2025
3312025508202510-Q 3/30/2025
12312024303202510-K 12/31/2024
93020241106202410-Q 9/29/2024
6302024808202410-Q 6/30/2024
3312024509202410-Q 3/31/2024
12312023216202410-K 12/31/2023
93020231102202310-Q 9/24/2023
6302023803202310-Q 6/25/2023
3312023504202310-Q 3/26/2023
12312022217202310-K 12/31/2022
93020221102202210-Q 9/25/2022
6302022803202210-Q 6/26/2022
3312022504202210-Q 3/27/2022
12312021218202210-K 12/31/2021
93020211103202110-Q 9/26/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Hoffman Steven E 8082025Buy24.545,014123,044206,848Form