Six Flags Entertainment Reports $650M in Q4 Revenue

By Chris Stiles • Thursday, February 19 15:39 • Permanent Link

Six Flags Entertainment Corporation (NYSE: FUN) released its 2025 fourth-quarter and full-year results, reporting a mix of positive and negative changes compared to the previous period.

In the fourth quarter of 2025, the company's net revenues totaled $650 million, a decrease of $37 million or 5% compared with the fourth quarter of 2024. However, on a per operating day basis, net revenues were up 7% compared with the fourth quarter of 2024. Attendance totaled 9.3 million guests, down 13% or approximately 1.4 million visitors compared with the fourth quarter of 2024, with per capita spending increasing by 8% to $66.41 compared with the same period in 2024.

The net loss attributable to Six Flags Entertainment Corporation was $92 million, a significant improvement compared to a loss of $264 million for the fourth quarter of 2024. Adjusted EBITDA totaled $165 million, a decline of $43 million compared to the fourth quarter of 2024, reflecting the impact of a 13% decrease in attendance and higher SG&A expenses during the period.

For the full year 2025, net revenues totaled $3.10 billion, with attendance totaling 47.4 million guests. Per capita spending was $61.90, and the net loss attributable to Six Flags Entertainment Corporation totaled $1.60 billion, which includes a $1.5 billion non-cash impairment charge on goodwill and other intangibles. Adjusted EBITDA for the full year was $792 million.

The company's CEO, John Reilly, expressed confidence in the company's future, highlighting significant investments made to improve park infrastructures, add new attractions, and upgrade technology systems to enhance the overall visitor experience. Despite falling short of expectations in 2025, the company remains focused on restoring profitable growth.

In terms of the balance sheet and liquidity, as of December 31, 2025, Six Flags reported total liquidity of $623 million, including cash and available borrowings under the company’s revolving credit facility. The net debt totaled $5.11 billion.

Following these announcements, the company's shares moved 4.34%, and are now trading at a price of $16.57. For the full picture, make sure to review Six Flags Entertainment's 8-K report.

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