Six Flags Entertainment Corpora — Earnings Quality Grade F
FUN · Consumer Cyclical
Major red flags
Screening Summary
Management Signals
Financial Trends
Revenue & Net Income ($B)
Margins (%)
18-Point Screening
Revenue Quality
DSO 19 days, change +2 days YoY
AR outpaced revenue for 2 consecutive years
Revenue grew 14.4% but CFFO declined -12.3%
Small-cap context: Small-cap revenue/CFFO ratio is sensitive to growth-stage working-capital draws.
Expense Quality
Inventory -3.6% vs COGS 16.0%. Normal
CapEx growth 49.5% is >2x revenue growth 14.4%
SG&A/Gross Profit = 15.5%, excellent (<30%)
Gross margin 91.3%, change -0.1pp. Stable
Cash Flow Quality
CFFO/NI = -0.21. Below 1.0
FCF is negative ($-0.2B)
Accruals ratio = -24.1%. Low accruals
Cash $0.1B covers only 2% of debt $5.4B
Balance Sheet Health
Goodwill+Intangibles $2.8B = 508% of equity. Over 50%
Interest coverage = 0.5x (<2x). Financial stress
Other assets grew 86.0% vs revenue 14.4%
No write-off data
Acquisition Risk
FCF after acquisitions negative for 2/3 years
Goodwill+Intangibles change -33% YoY. Normal
Manipulation Score
M-Score = -3.55 (< -2.22). Unlikely manipulator
Portfolio monitoring
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Beneish M-Score
Altman Z-Score
Generated from public financial data using forensic accounting frameworks. Not investment advice. Data: Yahoo Finance · 2026-04-25