Key Takeaways
- Six Flags shares fell 11% today after a guest died in a fall from the Goliath roller coaster at Six Flags Over Georgia on Monday.
- The sell-off looks justified because the accident’s costs are open-ended and similar rides are temporarily closed across the company’s parks during the Halloween season.
- Six Flags ended fiscal 2025 with net debt at 6.9x EBITDA, which leaves little cushion for lawsuits or lost attendance.
- The next read comes on Nov. 5, when Six Flags reports third-quarter results.
Six Flags Entertainment (FUN) shares are down 11% this morning after a guest died in a fall from the Goliath roller coaster at Six Flags Over Georgia on Monday afternoon.
The stock closed 4.5% higher on Monday, and the reports came out after the close. Now it’s trading near its 52-week low.
What happened
One person died and several others were hurt on Goliath, the park’s 200-foot coaster in Cobb County, Georgia, shortly before 4 p.m. Monday, according to local police. Witnesses told a local news station they saw a man fall from the ride. The county police’s major crimes unit is investigating.
“We are deeply saddened by the guest incident at our park today,” a Six Flags spokesperson said. The company also said it had temporarily closed similar rides at its other parks.
Bad timing
Closing rides during the Halloween season is a real cost. Six Flags’ fourth quarter, which includes October and Halloween, brought in $650 million in 2025. That’s about a fifth of the year’s $3.10 billion.
And analysts already expected revenue to dip this year and not get back to its 2025 level until 2028.
Those estimates are from Oct. 7, so they don’t include any hit to October attendance.
The accident also comes on top of existing legal trouble. Last month, Six Flags Magic Mountain in California retired its X2 coaster after lawsuits alleging the ride caused brain injuries. Six Flags recently settled a wrongful-death lawsuit over a 22-year-old who died after riding X2 in 2022, and three more lawsuits were filed last week.
Little room to absorb it
That’s why the balance sheet matters so much here. Six Flags ended fiscal 2025 with net debt at 6.9x EBITDA, up from 4.1x in fiscal 2022.
For a company now worth about $1.1 billion, that’s not much cushion for lawsuits, closed rides or a weak October.
Is the sell-off overdone?
I don’t think so. Nobody can put a number on Monday’s accident yet, and the open-ended costs fall on a company with heavy debt in the middle of its Halloween season.
Of course, attendance could hold up fine once the closed rides reopen. The first real read comes on Nov. 5, when Six Flags reports its third quarter before the open. What management says about October will matter most.
So what is Six Flags stock actually worth?
TIKR lets you forecast the future price of any stock in less than a minute. Just enter a few assumptions into TIKR’s valuation model and see what Six Flags could be worth. Start from Wall Street consensus estimates, or adjust the inputs to reflect your own view of the business. It’s free to use.
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