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Six Flags Entertainment

FUN on NYSE. Six Flags Entertainment Corporation/NEW sells park rides, food and lodging to families and young people. Market value $1.2bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Recent profit includes a big one-time charge, so we price the company excluding that charge.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Retail & consumer stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
12.1%very high

For every $100 of what the whole company costs, it produced $12.15 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026, without the one-off
29.8×full

You pay 29.8 years of operating profit for the business. The average large US company costs around 18.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 33 of 100. Our list needs 70 on quality and 60 on price.

$12.08 a share, 16% above its 1-year low

Over the past year the price has ranged from $10.45 to $27.37.

Pays no dividend

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

0.1
-0.2
0.2
2024202512 monthsto Jun '26

Spare cash swings from quarter to quarter here: $150 million in the past 12 months, a shortfall of $152 million in the year to December 2025.

Revenue
$2.7bn$3.1bn
Operating margin
11.5%-44.4%
Debt to equity
2.429.43
Shares outstanding
0.10bn0.10bn

Health checks

  • Free cash flow positive1 of 2 years
  • Accounting looks honest (Beneish)Nothing unusual
  • Financial strength (Piotroski)4 of 9
  • Profit backed by cash (accruals)No
  • Debt9.43× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $865 million last quarter, down 7% on a year ago.
  • A loss of $203 million, compared with a loss of $100 million a year ago.
  • It loses 44 cents on each $1 of sales, after keeping 2 cents a year earlier.
  • Spare cash over the past 12 months: $150 million. A year earlier it spent $197 million more than it brought in.
  • 1% more shares than a year ago. Each share owns a bit less of the company.
  • Debt is $4.9 billion more than cash, down from $5.2 billion a year ago.
  • Sales grew on a year ago in 1 of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$1.3bn
December 2024$687m
March 2025$202m
June 2025$930m
September 2025$1.3bn
December 2025$650m
March 2026$226m
June 2026$865m
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$111m
December 2024-$264m
March 2025-$220m
June 2025-$100m
September 2025-$1.2bn
December 2025-$92m
March 2026-$269m
June 2026-$203m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
5 November 2026

Who owns it

4 long-term investors we follow own it, unchanged from 4 last quarter. 312 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 4 insiders bought $6m of shares on the open market.

  • Reilly John T
    President & CEO, Director
    Bought
    under a preset trading plan
    Date
    12 August 2026
    Shares
    15,713
    Price
    $15.80
    Value
    $248,265
  • JAFFER REHAN
    Director
    Bought
    Date
    15 June 2026
    Shares
    125,000
    Price
    $23.41
    Value
    $3m
  • JAFFER REHAN
    Director
    Bought
    Date
    12 June 2026
    Shares
    125,000
    Price
    $23.69
    Value
    $3m
  • Spiegel Marilyn G
    Director
    Bought
    Date
    21 May 2026
    Shares
    2,500
    Price
    $19.10
    Value
    $47,750
  • HADDRILL RICHARD M
    Executive Chair, Director
    Bought
    Date
    12 May 2026
    Shares
    10,000
    Price
    $19.08
    Value
    $190,800
  • Spiegel Marilyn G
    Director
    Bought
    Date
    12 May 2026
    Shares
    2,500
    Price
    $19.13
    Value
    $47,825

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Feb 2026, plus the 10-Q filed 6 Aug 2026 and 13 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

  • It carries a lot of debt: 9.4× its equity.
  • It isn't cheap on profits: 29.8× operating profit.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.