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莱夫 Nation 娱乐（LIVE）与Ultragenyx Pharmaceutical Inc.（RARE）财务数据对比。点击上方公司名可切换其他公司
Ultragenyx Pharmaceutical Inc.的季度营收约是莱夫 Nation 娱乐的1.9倍（$207.3M vs $108.5M），莱夫 Nation 娱乐净利率更高（-0.1% vs -62.0%，领先62.0%），Ultragenyx Pharmaceutical Inc.同比增速更快（25.9% vs -2.7%），莱夫 Nation 娱乐自由现金流更多（$8.5M vs $-100.8M），过去两年Ultragenyx Pharmaceutical Inc.的营收复合增速更高（38.0% vs -4.3%）
Live Nation Entertainment是一家美国跨国娱乐企业，2010年由Live Nation与Ticketmaster合并而成。目前两大品牌均作为子品牌运营，在全球范围内推广现场娱乐活动并提供票务销售服务，同时还自营多处娱乐场馆，并为音乐人提供艺人经纪服务。
Ultragenyx Pharmaceutical Inc.是一家总部位于美国的生物制药企业，专注于研发罕见病和超罕见遗传病的创新治疗方案，这类疾病目前大多无获批疗法，存在大量未被满足的临床需求。公司覆盖生物制剂、小分子药物、基因疗法、反义寡核苷酸及mRNA等多种药物技术平台，研发管线涵盖骨骼、内分泌、代谢、肌肉及中枢神经系统疾病领域。
LIVE vs RARE — 直观对比
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $108.5M | $207.3M |
| 净利润 | $-64.0K | $-128.6M |
| 毛利率 | 32.6% | — |
| 营业利润率 | 3.2% | -54.7% |
| 净利率 | -0.1% | -62.0% |
| 营收同比 | -2.7% | 25.9% |
| 净利润同比 | -113.0% | 3.5% |
| 每股收益（稀释后） | $-0.02 | $-1.28 |
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
| Q4 25 | $108.5M | $207.3M | ||
| Q3 25 | $113.9M | $159.9M | ||
| Q2 25 | $112.5M | $166.5M | ||
| Q1 25 | $107.0M | $139.3M | ||
| Q4 24 | $111.5M | $164.6M | ||
| Q3 24 | $112.7M | $139.5M | ||
| Q2 24 | $123.9M | $147.0M | ||
| Q1 24 | $118.6M | $108.8M |
| Q4 25 | $-64.0K | $-128.6M | ||
| Q3 25 | $997.0K | $-180.4M | ||
| Q2 25 | $5.4M | $-115.0M | ||
| Q1 25 | $15.9M | $-151.1M | ||
| Q4 24 | $492.0K | $-133.2M | ||
| Q3 24 | $-19.9M | $-133.5M | ||
| Q2 24 | $-2.9M | $-131.6M | ||
| Q1 24 | $-3.3M | $-170.7M |
| Q4 25 | 32.6% | — | ||
| Q3 25 | 32.4% | — | ||
| Q2 25 | 34.0% | — | ||
| Q1 25 | 32.8% | — | ||
| Q4 24 | 31.7% | — | ||
| Q3 24 | 31.9% | — | ||
| Q2 24 | 29.9% | — | ||
| Q1 24 | 29.9% | — |
| Q4 25 | 3.2% | -54.7% | ||
| Q3 25 | 3.3% | -106.9% | ||
| Q2 25 | 7.1% | -64.8% | ||
| Q1 25 | 2.0% | -102.6% | ||
| Q4 24 | 0.7% | -74.3% | ||
| Q3 24 | -15.5% | -94.6% | ||
| Q2 24 | 0.9% | -79.1% | ||
| Q1 24 | -0.7% | -151.9% |
| Q4 25 | -0.1% | -62.0% | ||
| Q3 25 | 0.9% | -112.8% | ||
| Q2 25 | 4.8% | -69.0% | ||
| Q1 25 | 14.8% | -108.5% | ||
| Q4 24 | 0.4% | -80.9% | ||
| Q3 24 | -17.6% | -95.7% | ||
| Q2 24 | -2.3% | -89.5% | ||
| Q1 24 | -2.8% | -156.8% |
| Q4 25 | $-0.02 | $-1.28 | ||
| Q3 25 | $-1.52 | $-1.81 | ||
| Q2 25 | $1.24 | $-1.17 | ||
| Q1 25 | $5.05 | $-1.57 | ||
| Q4 24 | $0.16 | $-1.34 | ||
| Q3 24 | $-6.31 | $-1.40 | ||
| Q2 24 | $-0.91 | $-1.52 | ||
| Q1 24 | $-1.04 | $-2.03 |
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 | — | $421.0M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $95.3M | $-80.0M |
| 总资产 | $389.2M | $1.5B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
| Q4 25 | — | $421.0M | ||
| Q3 25 | — | $202.5M | ||
| Q2 25 | — | $176.3M | ||
| Q1 25 | — | $127.1M | ||
| Q4 24 | — | $174.0M | ||
| Q3 24 | — | $150.6M | ||
| Q2 24 | — | $480.7M | ||
| Q1 24 | — | $112.3M |
| Q4 25 | $95.3M | $-80.0M | ||
| Q3 25 | $95.3M | $9.2M | ||
| Q2 25 | $94.3M | $151.3M | ||
| Q1 25 | $88.9M | $144.2M | ||
| Q4 24 | $73.3M | $255.0M | ||
| Q3 24 | $72.9M | $346.8M | ||
| Q2 24 | $92.7M | $432.4M | ||
| Q1 24 | $95.9M | $140.3M |
| Q4 25 | $389.2M | $1.5B | ||
| Q3 25 | $386.4M | $1.2B | ||
| Q2 25 | $387.5M | $1.3B | ||
| Q1 25 | $393.6M | $1.3B | ||
| Q4 24 | $395.5M | $1.5B | ||
| Q3 24 | $407.5M | $1.5B | ||
| Q2 24 | $436.8M | $1.6B | ||
| Q1 24 | $433.9M | $1.3B |
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 | $9.8M | $-99.8M |
| 自由现金流经营现金流 - 资本支出 | $8.5M | $-100.8M |
| 自由现金流率自由现金流/营收 | 7.8% | -48.6% |
| 资本支出强度资本支出/营收 | 1.2% | 0.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $21.9M | $-472.0M |
8季度趋势，按日历期对齐
| Q4 25 | $9.8M | $-99.8M | ||
| Q3 25 | $6.8M | $-91.4M | ||
| Q2 25 | $12.3M | $-108.3M | ||
| Q1 25 | $231.0K | $-166.5M | ||
| Q4 24 | $9.4M | $-79.3M | ||
| Q3 24 | $6.7M | $-67.0M | ||
| Q2 24 | $11.7M | $-77.0M | ||
| Q1 24 | $-5.7M | $-190.7M |
| Q4 25 | $8.5M | $-100.8M | ||
| Q3 25 | $4.8M | $-92.7M | ||
| Q2 25 | $10.8M | $-110.7M | ||
| Q1 25 | $-2.3M | $-167.8M | ||
| Q4 24 | $7.6M | $-79.5M | ||
| Q3 24 | $3.3M | $-68.6M | ||
| Q2 24 | $10.1M | $-79.0M | ||
| Q1 24 | $-7.5M | $-193.9M |
| Q4 25 | 7.8% | -48.6% | ||
| Q3 25 | 4.2% | -58.0% | ||
| Q2 25 | 9.6% | -66.5% | ||
| Q1 25 | -2.1% | -120.5% | ||
| Q4 24 | 6.8% | -48.3% | ||
| Q3 24 | 2.9% | -49.2% | ||
| Q2 24 | 8.2% | -53.7% | ||
| Q1 24 | -6.3% | -178.2% |
| Q4 25 | 1.2% | 0.5% | ||
| Q3 25 | 1.7% | 0.8% | ||
| Q2 25 | 1.3% | 1.5% | ||
| Q1 25 | 2.3% | 1.0% | ||
| Q4 24 | 1.6% | 0.1% | ||
| Q3 24 | 3.1% | 1.2% | ||
| Q2 24 | 1.3% | 1.4% | ||
| Q1 24 | 1.4% | 3.0% |
| Q4 25 | — | — | ||
| Q3 25 | 6.78× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 19.11× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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
LIVE
| Steel Manufacturing Segment | $31.9M | 29% |
| Flooring Manufacturing Segment | $28.9M | 27% |
| Retail Flooring Segment | $25.3M | 23% |
| Retail Entertainment Segment | $23.6M | 22% |
RARE
| Royalty | $105.6M | 51% |
| Products | $101.7M | 49% |
