Six Flags is the world's largest amusement park corporation with properties in Mexico, the US and Canada. The company maintains 18 properties throughout North America consisting of theme parks, thrill parks, water parks, and family entertainment centers. The company was founded in Texas and took its name from its first property, Six Flag Over Texas. In 2009, Six Flags hosted 23.9 million guests but still ran into financial problems and on June 13, 2009, the corporation filed for Chapter 11 bankruptcy protection. On May 3, 2010 Six Flags successfully exited bankruptcy, restructured the company, and issued new stock on the NYSE. Below is a list of the company's amusement parks, water parks, and its one indoor water entertainment park.
Great Escape, Queensbury, New York
La Ronde, Montreal, Quebec, Canada
Six Flags America, Largo, Maryland
Six Flags Discovery Kingdom, Vallejo, California
Six Flags Fiesta Texas, San Antonio, Texas
Six Flags Great Adventure, Jackson, New Jersey
Six Flags Wild Safari, now part of Six Flags Great Adventure
Six Flags Great America, Gurnee, Illinois
Six Flags Magic Mountain, Valencia, California
Six Flags México, Mexico City, Mexico
Six Flags New England, Agawam, Massachusetts
Six Flags Over Georgia, Austell, Georgia
Six Flags Over Texas, Arlington, Texas
Six Flags St. Louis, Eureka, Missouri
Water Parks
Six Flags Hurricane Harbor, Mitchellville, Maryland
Six Flags Hurricane Harbor, Gurnee, Illinois
Six Flags Hurricane Harbor, Agawam, Massachusetts
Six Flags Hurricane Harbor, Austell, Georgia
Six Flags Hurricane Harbor, Eureka, Missouri
Splashwater Kingdom, Queensbury, New York
White Water Bay, San Antonio, Texas
Six Flags Hurricane Harbor, Valencia, California
Six Flags Hurricane Harbor, Arlington, Texas
Six Flags Hurricane Harbor, Jackson, New Jersey
Six Flags White Water, Marietta, Georgia
Indoor Water Park
White Water Bay, Queensbury, New York
8 March 2015 Price $45.97 1yr Target $53.00 Analysts 5 1yr Cap Gain 15.29% Dividend $1.93 Yield 4.19% 1yr Tot Return 19.48% | Beta 1.23 EPS (ttm) $0.73 EPS next yr $1.71 P/E 62.97 PEG 7.87 ROA 2.90% ROE 26.40% ROI 11.20% |
Dividends have also increased steadily over the last four years and are estimated to continue to increase in the next two years. This is good but the payouts are larger than earnings but decreasing in percentage over the next two years. The real problem with the fundamentals lies in the earnings. The earnings have been very volatile since the reorganization and unless management gets these under control they'll once again have financial problems. Looking forward estimates show a slow and steady increase in earnings, but these are only estimates. If this occurs the company is heading in the right direction. Anyone investing in these shares will need to monitor the company's earnings announcements to ensure earnings are as estimated.
Year 2016 Est 2015 Est 2014 2013 2012 2011 2010 | Revenues $1.29 Bil $1.24 Bil $1.17 Bil $1.10 Bil $1.07 Bil $1.01 Bil $0.97 Bil | Earnings $1.71 $1.54 $0.77 $1.18 $3.30 $-0.21 $3.25 | Dividends $2.20 $2.08 $1.93 $1.82 $1.35 $0.90 $0.30 | Payout Ratio 128.65% 135.06% 250.64% 154.23% 40.90% Unk 9.23% |

For me the pure plays are Cedar Fair and Six Flags, so investors looking for a pure investment in parks should look at these. There are other amusement parks but they are folded up under large corporations like Disney and Comcast that need to be analyzed differently.