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莱夫 Nation 娱乐（LIVE）与SUBURBAN PROPANE PARTNERS LP（SPH）财务数据对比。点击上方公司名可切换其他公司
SUBURBAN PROPANE PARTNERS LP的季度营收约是莱夫 Nation 娱乐的3.4倍（$370.4M vs $108.5M）。SUBURBAN PROPANE PARTNERS LP净利率更高（12.4% vs -0.1%，领先12.4%）。SUBURBAN PROPANE PARTNERS LP同比增速更快（-0.8% vs -2.7%）。莱夫 Nation 娱乐自由现金流更多（$8.5M vs $-67.5M）。过去两年莱夫 Nation 娱乐的营收复合增速更高（-4.3% vs -13.8%）
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。
Suburban Propane Partners LP是美国领先的丙烷、天然气、取暖油及相关能源产品分销商，服务覆盖住宅、商业、工业、农业等各类客户，同时提供暖通空调系统的安装、维护与维修服务，业务范围遍布全美。
LIVE vs SPH — 直观对比
营收规模更大
SPH
是对方的3.4倍
$108.5M
营收增速更快
SPH
高出1.9%
-2.7%
净利率更高
SPH
高出12.4%
-0.1%
自由现金流更多
LIVE
多$76.0M
$-67.5M
两年增速更快
LIVE
近两年复合增速
-13.8%
损益表 — Q1 2026 vs Q1 2026
| 指标 | | |
|---|---|---|
| 营收 | $108.5M | $370.4M |
| 净利润 | $-64.0K | $45.8M |
| 毛利率 | 32.6% | 64.7% |
| 营业利润率 | 3.2% | 18.3% |
| 净利率 | -0.1% | 12.4% |
| 营收同比 | -2.7% | -0.8% |
| 净利润同比 | -113.0% | 135.7% |
| 每股收益（稀释后） | $-0.02 | $0.69 |
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LIVESPH
| Q4 25 | $108.5M | $370.4M | ||
| Q3 25 | $113.9M | $211.4M | ||
| Q2 25 | $112.5M | $260.1M | ||
| Q1 25 | $107.0M | $587.7M | ||
| Q4 24 | $111.5M | $373.3M | ||
| Q3 24 | $112.7M | $208.6M | ||
| Q2 24 | $123.9M | $254.6M | ||
| Q1 24 | $118.6M | $498.1M |
净利润LIVESPH
| Q4 25 | $-64.0K | $45.8M | ||
| Q3 25 | $997.0K | $-35.1M | ||
| Q2 25 | $5.4M | $-14.8M | ||
| Q1 25 | $15.9M | $137.1M | ||
| Q4 24 | $492.0K | $19.4M | ||
| Q3 24 | $-19.9M | $-44.6M | ||
| Q2 24 | $-2.9M | $-17.2M | ||
| Q1 24 | $-3.3M | $111.5M |
毛利率LIVESPH
| Q4 25 | 32.6% | 64.7% | ||
| Q3 25 | 32.4% | 64.7% | ||
| Q2 25 | 34.0% | 61.7% | ||
| Q1 25 | 32.8% | 58.8% | ||
| Q4 24 | 31.7% | 60.6% | ||
| Q3 24 | 31.9% | 59.4% | ||
| Q2 24 | 29.9% | 62.9% | ||
| Q1 24 | 29.9% | 61.8% |
营业利润率LIVESPH
| Q4 25 | 3.2% | 18.3% | ||
| Q3 25 | 3.3% | -7.9% | ||
| Q2 25 | 7.1% | 2.1% | ||
| Q1 25 | 2.0% | 27.0% | ||
| Q4 24 | 0.7% | 15.8% | ||
| Q3 24 | -15.5% | -10.8% | ||
| Q2 24 | 0.9% | 3.2% | ||
| Q1 24 | -0.7% | 27.5% |
净利率LIVESPH
| Q4 25 | -0.1% | 12.4% | ||
| Q3 25 | 0.9% | -16.6% | ||
| Q2 25 | 4.8% | -5.7% | ||
| Q1 25 | 14.8% | 23.3% | ||
| Q4 24 | 0.4% | 5.2% | ||
| Q3 24 | -17.6% | -21.4% | ||
| Q2 24 | -2.3% | -6.8% | ||
| Q1 24 | -2.8% | 22.4% |
每股收益（稀释后）LIVESPH
| Q4 25 | $-0.02 | $0.69 | ||
| Q3 25 | $-1.52 | $-0.55 | ||
| Q2 25 | $1.24 | $-0.23 | ||
| Q1 25 | $5.05 | $2.10 | ||
| Q4 24 | $0.16 | $0.30 | ||
| Q3 24 | $-6.31 | $-0.69 | ||
| Q2 24 | $-0.91 | $-0.27 | ||
| Q1 24 | $-1.04 | $1.72 |
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 | — | $1.3M |
| 总债务越低越好 | — | $1.3B |
| 股东权益账面价值 | $95.3M | — |
| 总资产 | $389.2M | $2.4B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资LIVESPH
| Q4 25 | — | $1.3M | ||
| Q3 25 | — | $405.0K | ||
| Q2 25 | — | $1.3M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | — | $4.4M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $4.4M |
总债务LIVESPH
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
股东权益LIVESPH
| Q4 25 | $95.3M | — | ||
| Q3 25 | $95.3M | — | ||
| Q2 25 | $94.3M | — | ||
| Q1 25 | $88.9M | — | ||
| Q4 24 | $73.3M | — | ||
| Q3 24 | $72.9M | — | ||
| Q2 24 | $92.7M | — | ||
| Q1 24 | $95.9M | — |
总资产LIVESPH
| Q4 25 | $389.2M | $2.4B | ||
| Q3 25 | $386.4M | $2.3B | ||
| Q2 25 | $387.5M | $2.3B | ||
| Q1 25 | $393.6M | $2.4B | ||
| Q4 24 | $395.5M | $2.4B | ||
| Q3 24 | $407.5M | $2.3B | ||
| Q2 24 | $436.8M | $2.3B | ||
| Q1 24 | $433.9M | $2.3B |
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 | $-47.7M |
| 自由现金流经营现金流 - 资本支出 | $8.5M | $-67.5M |
| 自由现金流率自由现金流/营收 | 7.8% | -18.2% |
| 资本支出强度资本支出/营收 | 1.2% | 5.3% |
| 现金转化率经营现金流/净利润 | — | -1.04× |
| 过去12个月自由现金流最近4个季度 | $21.9M | $61.9M |
8季度趋势，按日历期对齐
经营现金流LIVESPH
| Q4 25 | $9.8M | $-47.7M | ||
| Q3 25 | $6.8M | $41.8M | ||
| Q2 25 | $12.3M | $95.5M | ||
| Q1 25 | $231.0K | $40.1M | ||
| Q4 24 | $9.4M | $8.8M | ||
| Q3 24 | $6.7M | $36.8M | ||
| Q2 24 | $11.7M | $61.4M | ||
| Q1 24 | $-5.7M | $75.1M |
自由现金流LIVESPH
| Q4 25 | $8.5M | $-67.5M | ||
| Q3 25 | $4.8M | $27.7M | ||
| Q2 25 | $10.8M | $80.9M | ||
| Q1 25 | $-2.3M | $20.8M | ||
| Q4 24 | $7.6M | $-15.1M | ||
| Q3 24 | $3.3M | $17.7M | ||
| Q2 24 | $10.1M | $46.8M | ||
| Q1 24 | $-7.5M | $60.6M |
自由现金流率LIVESPH
| Q4 25 | 7.8% | -18.2% | ||
| Q3 25 | 4.2% | 13.1% | ||
| Q2 25 | 9.6% | 31.1% | ||
| Q1 25 | -2.1% | 3.5% | ||
| Q4 24 | 6.8% | -4.0% | ||
| Q3 24 | 2.9% | 8.5% | ||
| Q2 24 | 8.2% | 18.4% | ||
| Q1 24 | -6.3% | 12.2% |
资本支出强度LIVESPH
| Q4 25 | 1.2% | 5.3% | ||
| Q3 25 | 1.7% | 6.7% | ||
| Q2 25 | 1.3% | 5.6% | ||
| Q1 25 | 2.3% | 3.3% | ||
| Q4 24 | 1.6% | 6.4% | ||
| Q3 24 | 3.1% | 9.1% | ||
| Q2 24 | 1.3% | 5.8% | ||
| Q1 24 | 1.4% | 2.9% |
现金转化率LIVESPH
| Q4 25 | — | -1.04× | ||
| Q3 25 | 6.78× | — | ||
| Q2 25 | 2.28× | — | ||
| Q1 25 | 0.01× | 0.29× | ||
| Q4 24 | 19.11× | 0.45× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.67× |
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% |
SPH
| Propane | $326.4M | 88% |
| Other Sales Revenue Net | $19.9M | 5% |
| Fuel Oil And Refined Fuels | $18.2M | 5% |
| Natural Gas And Electricity | $5.9M | 2% |
| Wholesale | $4.1M | 1% |
