vs
美国艺电（EA）与Live Nation Entertainment（LYV）财务数据对比。点击上方公司名可切换其他公司
Live Nation Entertainment的季度营收约是美国艺电的3.3倍（$6.3B vs $1.9B）。美国艺电净利率更高（4.6% vs -3.2%，领先7.8%）。Live Nation Entertainment同比增速更快（11.1% vs 1.0%）。过去两年Live Nation Entertainment的营收复合增速更高（28.9% vs 3.4%）
美国艺电（EA）是总部位于美国加利福尼亚州雷德伍德城的电子游戏企业，1982年5月由前苹果员工特里普·霍金斯创立。作为早期家用电脑游戏行业的先驱，公司将旗下游戏设计师与程序员称作“软件艺术家”，是全球知名的游戏厂商。
Live Nation Entertainment是美国跨国娱乐企业，2010年由Live Nation与Ticketmaster合并成立，旗下保留运营两大原有品牌。公司业务覆盖全球，主营现场娱乐活动宣发、票务销售，同时持有并运营多家娱乐场馆，还为音乐人提供艺人经纪管理服务。
EA vs LYV — 直观对比
营收规模更大
LYV
是对方的3.3倍
$1.9B
营收增速更快
LYV
高出10.2%
1.0%
净利率更高
EA
高出7.8%
-3.2%
两年增速更快
LYV
近两年复合增速
3.4%
损益表 — Q3 2026 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $1.9B | $6.3B |
| 净利润 | $88.0M | $-202.1M |
| 毛利率 | 73.8% | — |
| 营业利润率 | 6.7% | -2.3% |
| 净利率 | 4.6% | -3.2% |
| 营收同比 | 1.0% | 11.1% |
| 净利润同比 | -70.0% | -204.6% |
| 每股收益（稀释后） | $0.35 | $-1.06 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收EALYV
| Q4 25 | $1.9B | $6.3B | ||
| Q3 25 | $1.8B | $8.5B | ||
| Q2 25 | $1.7B | $7.0B | ||
| Q1 25 | $1.9B | $3.4B | ||
| Q4 24 | $1.9B | $5.7B | ||
| Q3 24 | $2.0B | $7.7B | ||
| Q2 24 | $1.7B | $6.0B | ||
| Q1 24 | $1.8B | $3.8B |
净利润EALYV
| Q4 25 | $88.0M | $-202.1M | ||
| Q3 25 | $137.0M | $431.5M | ||
| Q2 25 | $201.0M | $243.4M | ||
| Q1 25 | $254.0M | $23.2M | ||
| Q4 24 | $293.0M | $193.2M | ||
| Q3 24 | $294.0M | $451.8M | ||
| Q2 24 | $280.0M | $298.0M | ||
| Q1 24 | $182.0M | $-46.7M |
毛利率EALYV
| Q4 25 | 73.8% | — | ||
| Q3 25 | 75.9% | — | ||
| Q2 25 | 83.3% | — | ||
| Q1 25 | 80.6% | — | ||
| Q4 24 | 75.8% | — | ||
| Q3 24 | 77.5% | — | ||
| Q2 24 | 84.2% | — | ||
| Q1 24 | 79.9% | — |
营业利润率EALYV
| Q4 25 | 6.7% | -2.3% | ||
| Q3 25 | 10.9% | 9.3% | ||
| Q2 25 | 16.2% | 6.9% | ||
| Q1 25 | 20.8% | 3.4% | ||
| Q4 24 | 20.0% | -4.3% | ||
| Q3 24 | 19.0% | 8.4% | ||
| Q2 24 | 21.9% | 7.7% | ||
| Q1 24 | 13.2% | -1.0% |
净利率EALYV
| Q4 25 | 4.6% | -3.2% | ||
| Q3 25 | 7.4% | 5.1% | ||
| Q2 25 | 12.0% | 3.5% | ||
| Q1 25 | 13.4% | 0.7% | ||
| Q4 24 | 15.6% | 3.4% | ||
| Q3 24 | 14.5% | 5.9% | ||
| Q2 24 | 16.9% | 4.9% | ||
| Q1 24 | 10.2% | -1.2% |
每股收益（稀释后）EALYV
| Q4 25 | $0.35 | $-1.06 | ||
| Q3 25 | $0.54 | $0.73 | ||
| Q2 25 | $0.79 | $0.41 | ||
| Q1 25 | $0.99 | $-0.32 | ||
| Q4 24 | $1.11 | $0.58 | ||
| Q3 24 | $1.11 | $1.66 | ||
| Q2 24 | $1.04 | $1.03 | ||
| Q1 24 | $0.67 | $-0.53 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $2.8B | $7.1B |
| 总债务越低越好 | — | $7.6B |
| 股东权益账面价值 | $6.2B | $271.0M |
| 总资产 | $13.3B | $22.9B |
| 负债/权益比越低杠杆越低 | — | 28.09× |
8季度趋势，按日历期对齐
现金及短期投资EALYV
| Q4 25 | $2.8B | $7.1B | ||
| Q3 25 | $1.1B | $6.8B | ||
| Q2 25 | $1.5B | $7.1B | ||
| Q1 25 | $2.1B | $7.2B | ||
| Q4 24 | $2.8B | $6.1B | ||
| Q3 24 | $2.2B | $5.5B | ||
| Q2 24 | $2.4B | $6.4B | ||
| Q1 24 | $2.9B | $6.5B |
总债务EALYV
| Q4 25 | — | $7.6B | ||
| Q3 25 | — | $6.1B | ||
| Q2 25 | — | $5.0B | ||
| Q1 25 | — | $5.9B | ||
| Q4 24 | — | $6.2B | ||
| Q3 24 | — | $5.7B | ||
| Q2 24 | — | $5.1B | ||
| Q1 24 | — | $5.1B |
股东权益EALYV
| Q4 25 | $6.2B | $271.0M | ||
| Q3 25 | $6.0B | $521.3M | ||
| Q2 25 | $6.1B | $360.1M | ||
| Q1 25 | $6.4B | $106.0M | ||
| Q4 24 | $7.4B | $173.3M | ||
| Q3 24 | $7.4B | $288.0M | ||
| Q2 24 | $7.4B | $-43.3M | ||
| Q1 24 | $7.5B | $-114.8M |
总资产EALYV
| Q4 25 | $13.3B | $22.9B | ||
| Q3 25 | $11.9B | $22.9B | ||
| Q2 25 | $11.7B | $23.2B | ||
| Q1 25 | $12.4B | $21.8B | ||
| Q4 24 | $13.5B | $19.6B | ||
| Q3 24 | $13.1B | $19.7B | ||
| Q2 24 | $12.7B | $20.5B | ||
| Q1 24 | $13.4B | $20.0B |
负债/权益比EALYV
| Q4 25 | — | 28.09× | ||
| Q3 25 | — | 11.71× | ||
| Q2 25 | — | 13.86× | ||
| Q1 25 | — | 55.93× | ||
| Q4 24 | — | 35.65× | ||
| Q3 24 | — | 19.70× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $1.8B | $-53.7M |
| 自由现金流经营现金流 - 资本支出 | — | $-405.6M |
| 自由现金流率自由现金流/营收 | — | -6.4% |
| 资本支出强度资本支出/营收 | — | 5.6% |
| 现金转化率经营现金流/净利润 | 20.75× | — |
| 过去12个月自由现金流最近4个季度 | — | $333.6M |
8季度趋势，按日历期对齐
经营现金流EALYV
| Q4 25 | $1.8B | $-53.7M | ||
| Q3 25 | $130.0M | $-95.7M | ||
| Q2 25 | $17.0M | $223.5M | ||
| Q1 25 | $549.0M | $1.3B | ||
| Q4 24 | $1.2B | $1.0B | ||
| Q3 24 | $234.0M | $-720.9M | ||
| Q2 24 | $120.0M | $412.1M | ||
| Q1 24 | $580.0M | $988.9M |
自由现金流EALYV
| Q4 25 | — | $-405.6M | ||
| Q3 25 | — | $-371.3M | ||
| Q2 25 | — | $-39.9M | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $890.2M | ||
| Q3 24 | — | $-879.0M | ||
| Q2 24 | — | $212.4M | ||
| Q1 24 | — | $854.8M |
自由现金流率EALYV
| Q4 25 | — | -6.4% | ||
| Q3 25 | — | -4.4% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 34.0% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | — | -11.5% | ||
| Q2 24 | — | 3.5% | ||
| Q1 24 | — | 22.5% |
资本支出强度EALYV
| Q4 25 | — | 5.6% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 3.3% | ||
| Q1 24 | — | 3.5% |
现金转化率EALYV
| Q4 25 | 20.75× | — | ||
| Q3 25 | 0.95× | -0.22× | ||
| Q2 25 | 0.08× | 0.92× | ||
| Q1 25 | 2.16× | 56.94× | ||
| Q4 24 | 4.01× | 5.41× | ||
| Q3 24 | 0.80× | -1.60× | ||
| Q2 24 | 0.43× | 1.38× | ||
| Q1 24 | 3.19× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
EA
| Live Services And Other Net Revenue | $1.3B | 67% |
| PC And Other Net Revenue | $465.0M | 24% |
| Packaged Goods Net Revenue | $86.0M | 5% |
| Other | $56.0M | 3% |
| Estimated Service Offering Period | $25.0M | 1% |
LYV
| Concerts | $5.1B | 82% |
| Ticketing | $846.2M | 13% |
| Sponsorship And Advertising | $329.9M | 5% |
