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Live Nation Entertainment（LYV）与NRG Energy（NRG）财务数据对比。点击上方公司名可切换其他公司
NRG Energy的季度营收约是Live Nation Entertainment的1.2倍（$7.7B vs $6.3B），NRG Energy净利率更高（0.9% vs -3.2%，领先4.1%），NRG Energy同比增速更快（13.6% vs 11.1%），NRG Energy自由现金流更多（$-175.0M vs $-405.6M），过去两年Live Nation Entertainment的营收复合增速更高（28.9% vs 2.0%）
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。
NRG Energy是总部位于美国得克萨斯州休斯敦的能源企业，前身为北方州电力公司（后发展为Xcel Energy）的批发业务板块，2000年独立运营。公司业务覆盖能源发电与电力零售，资产组合涵盖天然气、煤炭、石油、核能、风电、公用事业级发电及分布式太阳能发电等多个领域。
LYV vs NRG — 直观对比
营收规模更大
NRG
是对方的1.2倍
$6.3B
营收增速更快
NRG
高出2.5%
11.1%
净利率更高
NRG
高出4.1%
-3.2%
自由现金流更多
NRG
多$230.6M
$-405.6M
两年增速更快
LYV
近两年复合增速
2.0%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $6.3B | $7.7B |
| 净利润 | $-202.1M | $66.0M |
| 毛利率 | — | — |
| 营业利润率 | -2.3% | 3.9% |
| 净利率 | -3.2% | 0.9% |
| 营收同比 | 11.1% | 13.6% |
| 净利润同比 | -204.6% | -89.7% |
| 每股收益（稀释后） | $-1.06 | $0.33 |
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LYVNRG
| Q4 25 | $6.3B | $7.7B | ||
| Q3 25 | $8.5B | $7.5B | ||
| Q2 25 | $7.0B | $6.7B | ||
| Q1 25 | $3.4B | $8.5B | ||
| Q4 24 | $5.7B | $6.8B | ||
| Q3 24 | $7.7B | $7.1B | ||
| Q2 24 | $6.0B | $6.5B | ||
| Q1 24 | $3.8B | $7.4B |
净利润LYVNRG
| Q4 25 | $-202.1M | $66.0M | ||
| Q3 25 | $431.5M | $152.0M | ||
| Q2 25 | $243.4M | $-104.0M | ||
| Q1 25 | $23.2M | $750.0M | ||
| Q4 24 | $193.2M | $643.0M | ||
| Q3 24 | $451.8M | $-767.0M | ||
| Q2 24 | $298.0M | $738.0M | ||
| Q1 24 | $-46.7M | $511.0M |
营业利润率LYVNRG
| Q4 25 | -2.3% | 3.9% | ||
| Q3 25 | 9.3% | 5.5% | ||
| Q2 25 | 6.9% | — | ||
| Q1 25 | 3.4% | 13.4% | ||
| Q4 24 | -4.3% | 14.1% | ||
| Q3 24 | 8.4% | -11.4% | ||
| Q2 24 | 7.7% | 21.8% | ||
| Q1 24 | -1.0% | 11.8% |
净利率LYVNRG
| Q4 25 | -3.2% | 0.9% | ||
| Q3 25 | 5.1% | 2.0% | ||
| Q2 25 | 3.5% | -1.6% | ||
| Q1 25 | 0.7% | 8.8% | ||
| Q4 24 | 3.4% | 9.5% | ||
| Q3 24 | 5.9% | -10.8% | ||
| Q2 24 | 4.9% | 11.4% | ||
| Q1 24 | -1.2% | 6.9% |
每股收益（稀释后）LYVNRG
| Q4 25 | $-1.06 | $0.33 | ||
| Q3 25 | $0.73 | $0.69 | ||
| Q2 25 | $0.41 | $-0.62 | ||
| Q1 25 | $-0.32 | $3.61 | ||
| Q4 24 | $0.58 | $3.10 | ||
| Q3 24 | $1.66 | $-3.79 | ||
| Q2 24 | $1.03 | $3.37 | ||
| Q1 24 | $-0.53 | $2.31 |
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 | $4.7B |
| 总债务越低越好 | $7.6B | $16.4B |
| 股东权益账面价值 | $271.0M | $1.7B |
| 总资产 | $22.9B | $29.1B |
| 负债/权益比越低杠杆越低 | 28.09× | 9.76× |
8季度趋势，按日历期对齐
现金及短期投资LYVNRG
| Q4 25 | $7.1B | $4.7B | ||
| Q3 25 | $6.8B | $732.0M | ||
| Q2 25 | $7.1B | $180.0M | ||
| Q1 25 | $7.2B | $693.0M | ||
| Q4 24 | $6.1B | $966.0M | ||
| Q3 24 | $5.5B | $1.1B | ||
| Q2 24 | $6.4B | $376.0M | ||
| Q1 24 | $6.5B | $278.0M |
总债务LYVNRG
| Q4 25 | $7.6B | $16.4B | ||
| Q3 25 | $6.1B | $11.2B | ||
| Q2 25 | $5.0B | $9.8B | ||
| Q1 25 | $5.9B | $9.8B | ||
| Q4 24 | $6.2B | $9.8B | ||
| Q3 24 | $5.7B | $10.4B | ||
| Q2 24 | $5.1B | $10.4B | ||
| Q1 24 | $5.1B | $9.6B |
股东权益LYVNRG
| Q4 25 | $271.0M | $1.7B | ||
| Q3 25 | $521.3M | $2.0B | ||
| Q2 25 | $360.1M | $2.3B | ||
| Q1 25 | $106.0M | $2.8B | ||
| Q4 24 | $173.3M | $2.5B | ||
| Q3 24 | $288.0M | $2.5B | ||
| Q2 24 | $-43.3M | $3.6B | ||
| Q1 24 | $-114.8M | $3.3B |
总资产LYVNRG
| Q4 25 | $22.9B | $29.1B | ||
| Q3 25 | $22.9B | $24.0B | ||
| Q2 25 | $23.2B | $24.1B | ||
| Q1 25 | $21.8B | $25.0B | ||
| Q4 24 | $19.6B | $24.0B | ||
| Q3 24 | $19.7B | $23.7B | ||
| Q2 24 | $20.5B | $25.8B | ||
| Q1 24 | $20.0B | $25.4B |
负债/权益比LYVNRG
| Q4 25 | 28.09× | 9.76× | ||
| Q3 25 | 11.71× | 5.66× | ||
| Q2 25 | 13.86× | 4.29× | ||
| Q1 25 | 55.93× | 3.53× | ||
| Q4 24 | 35.65× | 3.96× | ||
| Q3 24 | 19.70× | 4.14× | ||
| Q2 24 | — | 2.88× | ||
| Q1 24 | — | 2.90× |
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 | $123.0M |
| 自由现金流经营现金流 - 资本支出 | $-405.6M | $-175.0M |
| 自由现金流率自由现金流/营收 | -6.4% | -2.3% |
| 资本支出强度资本支出/营收 | 5.6% | 3.9% |
| 现金转化率经营现金流/净利润 | — | 1.86× |
| 过去12个月自由现金流最近4个季度 | $333.6M | $766.0M |
8季度趋势，按日历期对齐
经营现金流LYVNRG
| Q4 25 | $-53.7M | $123.0M | ||
| Q3 25 | $-95.7M | $484.0M | ||
| Q2 25 | $223.5M | $451.0M | ||
| Q1 25 | $1.3B | $855.0M | ||
| Q4 24 | $1.0B | $952.0M | ||
| Q3 24 | $-720.9M | $31.0M | ||
| Q2 24 | $412.1M | $1.1B | ||
| Q1 24 | $988.9M | $267.0M |
自由现金流LYVNRG
| Q4 25 | $-405.6M | $-175.0M | ||
| Q3 25 | $-371.3M | $230.0M | ||
| Q2 25 | $-39.9M | $73.0M | ||
| Q1 25 | $1.2B | $638.0M | ||
| Q4 24 | $890.2M | $766.0M | ||
| Q3 24 | $-879.0M | $-83.0M | ||
| Q2 24 | $212.4M | $953.0M | ||
| Q1 24 | $854.8M | $198.0M |
自由现金流率LYVNRG
| Q4 25 | -6.4% | -2.3% | ||
| Q3 25 | -4.4% | 3.1% | ||
| Q2 25 | -0.6% | 1.1% | ||
| Q1 25 | 34.0% | 7.5% | ||
| Q4 24 | 15.7% | 11.3% | ||
| Q3 24 | -11.5% | -1.2% | ||
| Q2 24 | 3.5% | 14.7% | ||
| Q1 24 | 22.5% | 2.7% |
资本支出强度LYVNRG
| Q4 25 | 5.6% | 3.9% | ||
| Q3 25 | 3.2% | 3.4% | ||
| Q2 25 | 3.8% | 5.7% | ||
| Q1 25 | 5.0% | 2.6% | ||
| Q4 24 | 2.7% | 2.8% | ||
| Q3 24 | 2.1% | 1.6% | ||
| Q2 24 | 3.3% | 1.6% | ||
| Q1 24 | 3.5% | 0.9% |
现金转化率LYVNRG
| Q4 25 | — | 1.86× | ||
| Q3 25 | -0.22× | 3.18× | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 56.94× | 1.14× | ||
| Q4 24 | 5.41× | 1.48× | ||
| Q3 24 | -1.60× | — | ||
| Q2 24 | 1.38× | 1.43× | ||
| Q1 24 | — | 0.52× |
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% |
NRG
暂无分部数据
