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莱夫 Nation 娱乐（LIVE）与RE/MAX Holdings, Inc.（RMAX）财务数据对比。点击上方公司名可切换其他公司
莱夫 Nation 娱乐的季度营收约是RE/MAX Holdings, Inc.的1.5倍（$108.5M vs $71.1M），RE/MAX Holdings, Inc.净利率更高（2.0% vs -0.1%，领先2.1%），RE/MAX Holdings, Inc.同比增速更快（-1.8% vs -2.7%），RE/MAX Holdings, Inc.自由现金流更多（$33.5M vs $8.5M），过去两年莱夫 Nation 娱乐的营收复合增速更高（-4.3% vs -4.7%）
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。
RE/MAX是全球知名的房地产特许经营机构，业务遍布全球一百多个国家和地区，旗下拥有数千家门店，总计超过十万名房产经纪人，在国际房产中介领域拥有极高的品牌知名度与市场影响力。
LIVE vs RMAX — 直观对比
营收规模更大
LIVE
是对方的1.5倍
$71.1M
营收增速更快
RMAX
高出0.8%
-2.7%
净利率更高
RMAX
高出2.1%
-0.1%
自由现金流更多
RMAX
多$25.0M
$8.5M
两年增速更快
LIVE
近两年复合增速
-4.7%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $108.5M | $71.1M |
| 净利润 | $-64.0K | $1.4M |
| 毛利率 | 32.6% | — |
| 营业利润率 | 3.2% | 13.1% |
| 净利率 | -0.1% | 2.0% |
| 营收同比 | -2.7% | -1.8% |
| 净利润同比 | -113.0% | -75.2% |
| 每股收益（稀释后） | $-0.02 | — |
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LIVERMAX
| Q4 25 | $108.5M | $71.1M | ||
| Q3 25 | $113.9M | $73.2M | ||
| Q2 25 | $112.5M | $72.8M | ||
| Q1 25 | $107.0M | $74.5M | ||
| Q4 24 | $111.5M | $72.5M | ||
| Q3 24 | $112.7M | $78.5M | ||
| Q2 24 | $123.9M | $78.5M | ||
| Q1 24 | $118.6M | $78.3M |
净利润LIVERMAX
| Q4 25 | $-64.0K | $1.4M | ||
| Q3 25 | $997.0K | $4.0M | ||
| Q2 25 | $5.4M | $4.7M | ||
| Q1 25 | $15.9M | $-2.0M | ||
| Q4 24 | $492.0K | $5.8M | ||
| Q3 24 | $-19.9M | $966.0K | ||
| Q2 24 | $-2.9M | $3.7M | ||
| Q1 24 | $-3.3M | $-3.4M |
毛利率LIVERMAX
| 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% | — |
营业利润率LIVERMAX
| Q4 25 | 3.2% | 13.1% | ||
| Q3 25 | 3.3% | 25.0% | ||
| Q2 25 | 7.1% | 19.3% | ||
| Q1 25 | 2.0% | 7.2% | ||
| Q4 24 | 0.7% | 5.9% | ||
| Q3 24 | -15.5% | 19.4% | ||
| Q2 24 | 0.9% | 20.6% | ||
| Q1 24 | -0.7% | 5.8% |
净利率LIVERMAX
| Q4 25 | -0.1% | 2.0% | ||
| Q3 25 | 0.9% | 5.4% | ||
| Q2 25 | 4.8% | 6.4% | ||
| Q1 25 | 14.8% | -2.6% | ||
| Q4 24 | 0.4% | 8.0% | ||
| Q3 24 | -17.6% | 1.2% | ||
| Q2 24 | -2.3% | 4.7% | ||
| Q1 24 | -2.8% | -4.3% |
每股收益（稀释后）LIVERMAX
| Q4 25 | $-0.02 | — | ||
| Q3 25 | $-1.52 | — | ||
| Q2 25 | $1.24 | — | ||
| Q1 25 | $5.05 | — | ||
| Q4 24 | $0.16 | — | ||
| Q3 24 | $-6.31 | — | ||
| Q2 24 | $-0.91 | — | ||
| Q1 24 | $-1.04 | — |
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 | — | $118.7M |
| 总债务越低越好 | — | $432.2M |
| 股东权益账面价值 | $95.3M | $452.4M |
| 总资产 | $389.2M | $582.5M |
| 负债/权益比越低杠杆越低 | — | 0.96× |
8季度趋势，按日历期对齐
现金及短期投资LIVERMAX
| Q4 25 | — | $118.7M | ||
| Q3 25 | — | $107.5M | ||
| Q2 25 | — | $94.3M | ||
| Q1 25 | — | $89.1M | ||
| Q4 24 | — | $96.6M | ||
| Q3 24 | — | $83.8M | ||
| Q2 24 | — | $66.1M | ||
| Q1 24 | — | $82.1M |
总债务LIVERMAX
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
股东权益LIVERMAX
| Q4 25 | $95.3M | $452.4M | ||
| Q3 25 | $95.3M | $448.1M | ||
| Q2 25 | $94.3M | $442.4M | ||
| Q1 25 | $88.9M | $433.5M | ||
| Q4 24 | $73.3M | $429.5M | ||
| Q3 24 | $72.9M | $423.1M | ||
| Q2 24 | $92.7M | $418.4M | ||
| Q1 24 | $95.9M | $412.0M |
总资产LIVERMAX
| Q4 25 | $389.2M | $582.5M | ||
| Q3 25 | $386.4M | $582.2M | ||
| Q2 25 | $387.5M | $574.8M | ||
| Q1 25 | $393.6M | $571.4M | ||
| Q4 24 | $395.5M | $581.6M | ||
| Q3 24 | $407.5M | $578.6M | ||
| Q2 24 | $436.8M | $571.4M | ||
| Q1 24 | $433.9M | $566.7M |
负债/权益比LIVERMAX
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.07× |
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 | $40.9M |
| 自由现金流经营现金流 - 资本支出 | $8.5M | $33.5M |
| 自由现金流率自由现金流/营收 | 7.8% | 47.1% |
| 资本支出强度资本支出/营收 | 1.2% | 10.4% |
| 现金转化率经营现金流/净利润 | — | 28.39× |
| 过去12个月自由现金流最近4个季度 | $21.9M | $56.8M |
8季度趋势，按日历期对齐
经营现金流LIVERMAX
| Q4 25 | $9.8M | $40.9M | ||
| Q3 25 | $6.8M | $17.7M | ||
| Q2 25 | $12.3M | $4.6M | ||
| Q1 25 | $231.0K | $5.7M | ||
| Q4 24 | $9.4M | $59.7M | ||
| Q3 24 | $6.7M | $17.6M | ||
| Q2 24 | $11.7M | $15.9M | ||
| Q1 24 | $-5.7M | $9.4M |
自由现金流LIVERMAX
| Q4 25 | $8.5M | $33.5M | ||
| Q3 25 | $4.8M | $16.4M | ||
| Q2 25 | $10.8M | $2.9M | ||
| Q1 25 | $-2.3M | $4.0M | ||
| Q4 24 | $7.6M | $53.0M | ||
| Q3 24 | $3.3M | $16.3M | ||
| Q2 24 | $10.1M | $14.0M | ||
| Q1 24 | $-7.5M | $6.8M |
自由现金流率LIVERMAX
| Q4 25 | 7.8% | 47.1% | ||
| Q3 25 | 4.2% | 22.4% | ||
| Q2 25 | 9.6% | 4.0% | ||
| Q1 25 | -2.1% | 5.3% | ||
| Q4 24 | 6.8% | 73.2% | ||
| Q3 24 | 2.9% | 20.8% | ||
| Q2 24 | 8.2% | 17.8% | ||
| Q1 24 | -6.3% | 8.6% |
资本支出强度LIVERMAX
| Q4 25 | 1.2% | 10.4% | ||
| Q3 25 | 1.7% | 1.8% | ||
| Q2 25 | 1.3% | 2.2% | ||
| Q1 25 | 2.3% | 2.3% | ||
| Q4 24 | 1.6% | 9.1% | ||
| Q3 24 | 3.1% | 1.7% | ||
| Q2 24 | 1.3% | 2.4% | ||
| Q1 24 | 1.4% | 3.3% |
现金转化率LIVERMAX
| Q4 25 | — | 28.39× | ||
| Q3 25 | 6.78× | 4.45× | ||
| Q2 25 | 2.28× | 0.97× | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 19.11× | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| 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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
