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Live Nation Entertainment（LYV）与MARCUS CORP（MCS）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MARCUS CORP的32.6倍（$6.3B vs $193.5M）。Live Nation Entertainment同比增速更快（11.1% vs 2.8%）。MARCUS CORP自由现金流更多（$26.4M vs $-405.6M）。过去两年Live Nation Entertainment的营收复合增速更高（28.9% vs 18.2%）
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。
马库斯公司是一家美国企业，主营商业地产领域相关服务，业务覆盖美国与加拿大，提供商业地产经纪、按揭经纪、行业研究以及咨询服务，首创了由单一经纪公司独家代理房源挂牌的行业模式，目前在美加两国设有超过80家办公室，拥有员工超1800名。
LYV vs MCS — 直观对比
营收规模更大
LYV
是对方的32.6倍
$193.5M
营收增速更快
LYV
高出8.4%
2.8%
自由现金流更多
MCS
多$432.0M
$-405.6M
两年增速更快
LYV
近两年复合增速
18.2%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $193.5M |
| 净利润 | $-202.1M | — |
| 毛利率 | — | — |
| 营业利润率 | -2.3% | 0.9% |
| 净利率 | -3.2% | — |
| 营收同比 | 11.1% | 2.8% |
| 净利润同比 | -204.6% | — |
| 每股收益（稀释后） | $-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LYVMCS
| Q4 25 | $6.3B | $193.5M | ||
| Q3 25 | $8.5B | $210.2M | ||
| Q2 25 | $7.0B | $206.0M | ||
| Q1 25 | $3.4B | $148.8M | ||
| Q4 24 | $5.7B | $188.3M | ||
| Q3 24 | $7.7B | $232.7M | ||
| Q2 24 | $6.0B | $176.0M | ||
| Q1 24 | $3.8B | $138.5M |
净利润LYVMCS
| Q4 25 | $-202.1M | — | ||
| Q3 25 | $431.5M | $16.2M | ||
| Q2 25 | $243.4M | $7.3M | ||
| Q1 25 | $23.2M | $-16.8M | ||
| Q4 24 | $193.2M | $986.0K | ||
| Q3 24 | $451.8M | $23.3M | ||
| Q2 24 | $298.0M | $-20.2M | ||
| Q1 24 | $-46.7M | $-11.9M |
营业利润率LYVMCS
| Q4 25 | -2.3% | 0.9% | ||
| Q3 25 | 9.3% | 10.8% | ||
| Q2 25 | 6.9% | 6.3% | ||
| Q1 25 | 3.4% | -13.7% | ||
| Q4 24 | -4.3% | -1.2% | ||
| Q3 24 | 8.4% | 14.1% | ||
| Q2 24 | 7.7% | 1.3% | ||
| Q1 24 | -1.0% | -12.0% |
净利率LYVMCS
| Q4 25 | -3.2% | — | ||
| Q3 25 | 5.1% | 7.7% | ||
| Q2 25 | 3.5% | 3.6% | ||
| Q1 25 | 0.7% | -11.3% | ||
| Q4 24 | 3.4% | 0.5% | ||
| Q3 24 | 5.9% | 10.0% | ||
| Q2 24 | 4.9% | -11.5% | ||
| Q1 24 | -1.2% | -8.6% |
每股收益（稀释后）LYVMCS
| Q4 25 | $-1.06 | — | ||
| Q3 25 | $0.73 | — | ||
| Q2 25 | $0.41 | — | ||
| Q1 25 | $-0.32 | — | ||
| Q4 24 | $0.58 | — | ||
| Q3 24 | $1.66 | — | ||
| Q2 24 | $1.03 | — | ||
| Q1 24 | $-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 | $7.1B | $23.4M |
| 总债务越低越好 | $7.6B | $159.0M |
| 股东权益账面价值 | $271.0M | $457.4M |
| 总资产 | $22.9B | $1.0B |
| 负债/权益比越低杠杆越低 | 28.09× | 0.35× |
8季度趋势，按日历期对齐
现金及短期投资LYVMCS
| Q4 25 | $7.1B | $23.4M | ||
| Q3 25 | $6.8B | $7.4M | ||
| Q2 25 | $7.1B | $14.9M | ||
| Q1 25 | $7.2B | $11.9M | ||
| Q4 24 | $6.1B | $40.8M | ||
| Q3 24 | $5.5B | $28.4M | ||
| Q2 24 | $6.4B | $32.8M | ||
| Q1 24 | $6.5B | $17.3M |
总债务LYVMCS
| Q4 25 | $7.6B | $159.0M | ||
| Q3 25 | $6.1B | $162.0M | ||
| Q2 25 | $5.0B | $179.9M | ||
| Q1 25 | $5.9B | $198.9M | ||
| Q4 24 | $6.2B | $159.1M | ||
| Q3 24 | $5.7B | $173.1M | ||
| Q2 24 | $5.1B | $175.7M | ||
| Q1 24 | $5.1B | $169.8M |
股东权益LYVMCS
| Q4 25 | $271.0M | $457.4M | ||
| Q3 25 | $521.3M | $454.3M | ||
| Q2 25 | $360.1M | $448.4M | ||
| Q1 25 | $106.0M | $441.8M | ||
| Q4 24 | $173.3M | $464.9M | ||
| Q3 24 | $288.0M | $462.3M | ||
| Q2 24 | $-43.3M | $449.4M | ||
| Q1 24 | $-114.8M | $459.3M |
总资产LYVMCS
| Q4 25 | $22.9B | $1.0B | ||
| Q3 25 | $22.9B | $1.0B | ||
| Q2 25 | $23.2B | $1.0B | ||
| Q1 25 | $21.8B | $1.0B | ||
| Q4 24 | $19.6B | $1.0B | ||
| Q3 24 | $19.7B | $1.0B | ||
| Q2 24 | $20.5B | $1.1B | ||
| Q1 24 | $20.0B | $1.0B |
负债/权益比LYVMCS
| Q4 25 | 28.09× | 0.35× | ||
| Q3 25 | 11.71× | 0.36× | ||
| Q2 25 | 13.86× | 0.40× | ||
| Q1 25 | 55.93× | 0.45× | ||
| Q4 24 | 35.65× | 0.34× | ||
| Q3 24 | 19.70× | 0.37× | ||
| Q2 24 | — | 0.39× | ||
| Q1 24 | — | 0.37× |
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 | $-53.7M | $48.8M |
| 自由现金流经营现金流 - 资本支出 | $-405.6M | $26.4M |
| 自由现金流率自由现金流/营收 | -6.4% | 13.6% |
| 资本支出强度资本支出/营收 | 5.6% | 11.6% |
| 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 | $333.6M | $989.0K |
8季度趋势，按日历期对齐
经营现金流LYVMCS
| Q4 25 | $-53.7M | $48.8M | ||
| Q3 25 | $-95.7M | $39.1M | ||
| Q2 25 | $223.5M | $31.6M | ||
| Q1 25 | $1.3B | $-35.3M | ||
| Q4 24 | $1.0B | $52.6M | ||
| Q3 24 | $-720.9M | $30.5M | ||
| Q2 24 | $412.1M | $36.0M | ||
| Q1 24 | $988.9M | $-15.1M |
自由现金流LYVMCS
| Q4 25 | $-405.6M | $26.4M | ||
| Q3 25 | $-371.3M | $18.2M | ||
| Q2 25 | $-39.9M | $14.7M | ||
| Q1 25 | $1.2B | $-58.3M | ||
| Q4 24 | $890.2M | $27.1M | ||
| Q3 24 | $-879.0M | $12.0M | ||
| Q2 24 | $212.4M | $16.1M | ||
| Q1 24 | $854.8M | $-30.5M |
自由现金流率LYVMCS
| Q4 25 | -6.4% | 13.6% | ||
| Q3 25 | -4.4% | 8.7% | ||
| Q2 25 | -0.6% | 7.1% | ||
| Q1 25 | 34.0% | -39.2% | ||
| Q4 24 | 15.7% | 14.4% | ||
| Q3 24 | -11.5% | 5.2% | ||
| Q2 24 | 3.5% | 9.2% | ||
| Q1 24 | 22.5% | -22.0% |
资本支出强度LYVMCS
| Q4 25 | 5.6% | 11.6% | ||
| Q3 25 | 3.2% | 9.9% | ||
| Q2 25 | 3.8% | 8.2% | ||
| Q1 25 | 5.0% | 15.5% | ||
| Q4 24 | 2.7% | 13.5% | ||
| Q3 24 | 2.1% | 7.9% | ||
| Q2 24 | 3.3% | 11.3% | ||
| Q1 24 | 3.5% | 11.1% |
现金转化率LYVMCS
| Q4 25 | — | — | ||
| Q3 25 | -0.22× | 2.41× | ||
| Q2 25 | 0.92× | 4.32× | ||
| Q1 25 | 56.94× | — | ||
| Q4 24 | 5.41× | 53.31× | ||
| Q3 24 | -1.60× | 1.31× | ||
| Q2 24 | 1.38× | — | ||
| 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
LYV
| Concerts | $5.1B | 82% |
| Ticketing | $846.2M | 13% |
| Sponsorship And Advertising | $329.9M | 5% |
MCS
| Theatres | $123.1M | 64% |
| Concessions | $51.0M | 26% |
| Food And Beverage | $21.2M | 11% |
