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Live Nation Entertainment（LYV）与Meta Platforms（META）财务数据对比。点击上方公司名可切换其他公司
Meta Platforms的季度营收约是Live Nation Entertainment的9.5倍（$59.9B vs $6.3B）。Meta Platforms净利率更高（38.0% vs -3.2%，领先41.2%）。Meta Platforms同比增速更快（23.8% vs 11.1%）。Meta Platforms自由现金流更多（$14.8B vs $-405.6M）。过去两年Live Nation Entertainment的营收复合增速更高（28.9% vs 28.2%）
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。
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
LYV vs META — 直观对比
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $59.9B |
| 净利润 | $-202.1M | $22.8B |
| 毛利率 | — | 81.8% |
| 营业利润率 | -2.3% | 41.3% |
| 净利率 | -3.2% | 38.0% |
| 营收同比 | 11.1% | 23.8% |
| 净利润同比 | -204.6% | 9.3% |
| 每股收益（稀释后） | $-1.06 | $8.87 |
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 | $6.3B | $59.9B | ||
| Q3 25 | $8.5B | $51.2B | ||
| Q2 25 | $7.0B | $47.5B | ||
| Q1 25 | $3.4B | $42.3B | ||
| Q4 24 | $5.7B | $48.4B | ||
| Q3 24 | $7.7B | $40.6B | ||
| Q2 24 | $6.0B | $39.1B | ||
| Q1 24 | $3.8B | $36.5B |
| Q4 25 | $-202.1M | $22.8B | ||
| Q3 25 | $431.5M | $2.7B | ||
| Q2 25 | $243.4M | $18.3B | ||
| Q1 25 | $23.2M | $16.6B | ||
| Q4 24 | $193.2M | $20.8B | ||
| Q3 24 | $451.8M | $15.7B | ||
| Q2 24 | $298.0M | $13.5B | ||
| Q1 24 | $-46.7M | $12.4B |
| Q4 25 | — | 81.8% | ||
| Q3 25 | — | 82.0% | ||
| Q2 25 | — | 82.1% | ||
| Q1 25 | — | 82.1% | ||
| Q4 24 | — | 81.7% | ||
| Q3 24 | — | 81.8% | ||
| Q2 24 | — | 81.3% | ||
| Q1 24 | — | 81.8% |
| Q4 25 | -2.3% | 41.3% | ||
| Q3 25 | 9.3% | 40.1% | ||
| Q2 25 | 6.9% | 43.0% | ||
| Q1 25 | 3.4% | 41.5% | ||
| Q4 24 | -4.3% | 48.3% | ||
| Q3 24 | 8.4% | 42.7% | ||
| Q2 24 | 7.7% | 38.0% | ||
| Q1 24 | -1.0% | 37.9% |
| Q4 25 | -3.2% | 38.0% | ||
| Q3 25 | 5.1% | 5.3% | ||
| Q2 25 | 3.5% | 38.6% | ||
| Q1 25 | 0.7% | 39.3% | ||
| Q4 24 | 3.4% | 43.1% | ||
| Q3 24 | 5.9% | 38.7% | ||
| Q2 24 | 4.9% | 34.5% | ||
| Q1 24 | -1.2% | 33.9% |
| Q4 25 | $-1.06 | $8.87 | ||
| Q3 25 | $0.73 | $1.05 | ||
| Q2 25 | $0.41 | $7.14 | ||
| Q1 25 | $-0.32 | $6.43 | ||
| Q4 24 | $0.58 | $7.96 | ||
| Q3 24 | $1.66 | $6.03 | ||
| Q2 24 | $1.03 | $5.16 | ||
| Q1 24 | $-0.53 | $4.71 |
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 | $81.6B |
| 总债务越低越好 | $7.6B | $58.7B |
| 股东权益账面价值 | $271.0M | $217.2B |
| 总资产 | $22.9B | $366.0B |
| 负债/权益比越低杠杆越低 | 28.09× | 0.27× |
8季度趋势，按日历期对齐
| Q4 25 | $7.1B | $81.6B | ||
| Q3 25 | $6.8B | $44.4B | ||
| Q2 25 | $7.1B | $47.1B | ||
| Q1 25 | $7.2B | $70.2B | ||
| Q4 24 | $6.1B | $77.8B | ||
| Q3 24 | $5.5B | $70.9B | ||
| Q2 24 | $6.4B | $58.1B | ||
| Q1 24 | $6.5B | $58.1B |
| Q4 25 | $7.6B | $58.7B | ||
| Q3 25 | $6.1B | — | ||
| Q2 25 | $5.0B | — | ||
| Q1 25 | $5.9B | — | ||
| Q4 24 | $6.2B | $28.8B | ||
| Q3 24 | $5.7B | $28.8B | ||
| Q2 24 | $5.1B | — | ||
| Q1 24 | $5.1B | — |
| Q4 25 | $271.0M | $217.2B | ||
| Q3 25 | $521.3M | $194.1B | ||
| Q2 25 | $360.1M | $195.1B | ||
| Q1 25 | $106.0M | $185.0B | ||
| Q4 24 | $173.3M | $182.6B | ||
| Q3 24 | $288.0M | $164.5B | ||
| Q2 24 | $-43.3M | $156.8B | ||
| Q1 24 | $-114.8M | $149.5B |
| Q4 25 | $22.9B | $366.0B | ||
| Q3 25 | $22.9B | $303.8B | ||
| Q2 25 | $23.2B | $294.7B | ||
| Q1 25 | $21.8B | $280.2B | ||
| Q4 24 | $19.6B | $276.1B | ||
| Q3 24 | $19.7B | $256.4B | ||
| Q2 24 | $20.5B | $230.2B | ||
| Q1 24 | $20.0B | $222.8B |
| Q4 25 | 28.09× | 0.27× | ||
| Q3 25 | 11.71× | — | ||
| Q2 25 | 13.86× | — | ||
| Q1 25 | 55.93× | — | ||
| Q4 24 | 35.65× | 0.16× | ||
| Q3 24 | 19.70× | 0.18× | ||
| 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 | $-53.7M | $36.2B |
| 自由现金流经营现金流 - 资本支出 | $-405.6M | $14.8B |
| 自由现金流率自由现金流/营收 | -6.4% | 24.8% |
| 资本支出强度资本支出/营收 | 5.6% | 35.7% |
| 现金转化率经营现金流/净利润 | — | 1.59× |
| 过去12个月自由现金流最近4个季度 | $333.6M | $46.1B |
8季度趋势，按日历期对齐
| Q4 25 | $-53.7M | $36.2B | ||
| Q3 25 | $-95.7M | $30.0B | ||
| Q2 25 | $223.5M | $25.6B | ||
| Q1 25 | $1.3B | $24.0B | ||
| Q4 24 | $1.0B | $28.0B | ||
| Q3 24 | $-720.9M | $24.7B | ||
| Q2 24 | $412.1M | $19.4B | ||
| Q1 24 | $988.9M | $19.2B |
| Q4 25 | $-405.6M | $14.8B | ||
| Q3 25 | $-371.3M | $11.2B | ||
| Q2 25 | $-39.9M | $9.0B | ||
| Q1 25 | $1.2B | $11.1B | ||
| Q4 24 | $890.2M | $13.6B | ||
| Q3 24 | $-879.0M | $16.5B | ||
| Q2 24 | $212.4M | $11.2B | ||
| Q1 24 | $854.8M | $12.8B |
| Q4 25 | -6.4% | 24.8% | ||
| Q3 25 | -4.4% | 21.8% | ||
| Q2 25 | -0.6% | 19.0% | ||
| Q1 25 | 34.0% | 26.2% | ||
| Q4 24 | 15.7% | 28.0% | ||
| Q3 24 | -11.5% | 40.6% | ||
| Q2 24 | 3.5% | 28.7% | ||
| Q1 24 | 22.5% | 35.2% |
| Q4 25 | 5.6% | 35.7% | ||
| Q3 25 | 3.2% | 36.7% | ||
| Q2 25 | 3.8% | 34.8% | ||
| Q1 25 | 5.0% | 30.6% | ||
| Q4 24 | 2.7% | 29.8% | ||
| Q3 24 | 2.1% | 20.3% | ||
| Q2 24 | 3.3% | 20.9% | ||
| Q1 24 | 3.5% | 17.6% |
| Q4 25 | — | 1.59× | ||
| Q3 25 | -0.22× | 11.07× | ||
| Q2 25 | 0.92× | 1.39× | ||
| Q1 25 | 56.94× | 1.44× | ||
| Q4 24 | 5.41× | 1.34× | ||
| Q3 24 | -1.60× | 1.58× | ||
| Q2 24 | 1.38× | 1.44× | ||
| Q1 24 | — | 1.56× |
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% |
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
