TacticScaleWhat Six Flags Entertainment Does & How It Makes Money (FUN)
Updated October 2026 · reflects Six Flags Entertainment's latest reported financials
North American operator of amusement parks, water parks, and resorts. It earns money mainly from guests visiting its parks, through admission tickets plus in-park spending, and from resort stays.
How Six Flags Entertainment makes money
It earns money mainly from guests visiting its parks, through admission tickets plus in-park spending, and from resort stays.
What Six Flags Entertainment does
Six Flags Entertainment Corporation operates amusement parks, water parks, and resort properties in the United States, Canada, and Mexico. Founded in 1983 and headquartered in Charlotte, North Carolina, the company was known as Cedar Fair, L.P. until it changed its name to Six Flags Entertainment Corporation in July 2024. As a consumer cyclical leisure business, it relies on people spending on days out and vacations. That makes its results sensitive to consumer discretionary budgets, the seasons, and how many visitors come through its parks.
Products & services
- Six Flags amusement parks
- Water parks
- Resort properties
- Park admission
What is Six Flags Entertainment worth?
On an owner-earnings DCF, Six Flags Entertainment's most-likely value is about $33 versus a recent price near $11 (194% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~$23) with a margin of safety — so the honest verdict here is “Deeply discounted.” Fair value earns its keep only at the extremes, not in the wide middle.
On the financials alone, $11 is below even the no-growth floor ($23); the market's discount — expectations and sentiment beyond the numbers — is pricing in ≈ -14.3%/yr. A bargain only if that pessimism is overdone.
⚠ High leverage — net debt is 12.9× annual cash flow. Net debt is subtracted from this fair value, but refinancing at higher rates, principal timing, and share dilution aren’t modeled — the equity can be worth far less if cash flow weakens.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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