Forensic Analysis · General / Diversified · as of Jun 27, 2026
Six Flags Entertainment Corporation/NEW (FUN)
A forensic read on Six Flags Entertainment Corporation/NEW built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
C · Mixed — selective
Forensic grade
Distress
Financial health
-2.0
Altman Z-score
Clean
Earnings quality
3
Forensic signals
-204.8%
ROE
$2.2B
Market cap
3.05%
Dividend yield
Six Flags Entertainment Corporation/NEW earns a C (Mixed — selective) forensic quality grade, and its Altman Z-score is -2.0, placing it in the Distress zone. 3 forensic signals were flagged in its latest SEC filings, led by return on invested capital.
What the filings flag
-15%Return on invested capital.Return on invested capital is -15% and slipping from 12% — well below its ~9% cost of capital, so reinvested dollars may be destroying value, not building it.
+47.7%/yrShare-count dilution.Diluted share count changed +95% over the last 2 years to FY2025 (+47.7%/yr). The count is GROWING — existing holders are being diluted. That's ~47.7% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2023 has been diluted ~95%.
$1.4BGoodwill impairments.Took $1.4B of goodwill writedowns across 2 year(s) (FY2024 ($42M), FY2025 ($1.3B)). Writedowns mean past acquisitions underperformed what was paid for them — worth weighing on capital-allocation skill.
Key fundamentals
Net Margin-51.6%
Debt / Equity9.42x
Free Cash Flow$-152.2M
Latest Revenue$3.10B
Return on Equity-290.9%
Revenue Growth YoY+14.4%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on Six Flags Entertainment Corporation/NEW:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about FUN's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown