Live Nation Entertainment, Inc. (LYV)财务
NYSE · Communication Services · Entertainment · 员工17,700人 · CEO Michael Rapino
- 股价
- $177.89 +0.03%
- 市值
- $414亿
- 企业价值
- $437亿
- 最近财报
- Q2 '26 2026-07-30提交
- 下次财报
- 2026-11-05 EPS预期 $1.51
营收(TTM)$263亿+10.8% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)3.4%-0.8 百分点 对比去年同期营业利润 $9.04亿
净利润(TTM)$1.35亿-85.3% 对比去年同期税后,含营业外收益
自由现金流(TTM)$13.7亿+28.2% 对比去年同期资本支出 $12.3亿
稀释EPS(TTM)-$1.12-148.6% 对比去年同期最近4个季度之和
净现金-$22.1亿-62.2% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $414亿 EV $437亿
- 营收
- $263亿 过去12个月
- 营收增速
- +12% FY2026年一致预期
- 净利润率
- 0.5% 净利润 / 营收,TTM
- P/E
- -161.7× 预期 -476.8×(FY2026)
- P/S
- 1.6× 股价 / 营收,TTM
- EV / EBITDA
- 25.8× TTM
- 自由现金流
- $13.7亿 过去12个月
- 净利润
- $1.35亿 过去12个月
- 营收预期
- $281亿 FY2026年一致预期
- 盈利
- 2026-11-05 营收预期 $96亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-07-30):营收超预期1.5%,EPS 超预期58.9%营收$76.7亿,预期$75.6亿(+1.5%);EPS $1.05,预期$0.66(+58.9%)。
- 营收增长放缓:同比9.4%Q2 '26营收$76.7亿,此前四个季度的平均值为12.7%。
- 营业利润率3.4%(TTM),较去年同期-0.8 百分点营收增长10.8%,营业利润增长-9.8%。
- 税前利润的38.9%被营业外亏损吞噬税前利润$6.51亿,营业利润$9.04亿(TTM)。股权投资亏损等一次性项目压低了净利润和EPS,营业利润更能反映业务本身。
- 资本支出占营收的4.7%(去年为3.4%)最近4个季度投入$12.3亿(同比+54.9%)。自由现金流$13.7亿,相当于净利润的1,020.7%。
- 稀释股数一年内增加4.1%Q2 '26稀释股数2.44亿,一年前为2.34亿。
- 净债务 $22.1亿现金 + 短期投资 $90.7亿,含租赁债务 $113亿;一年前净债务 $13.6亿。
上一季度:Q2 '26
截至2026-06-30的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q2 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $76.7亿 | $70.1亿 | +9.4% |
| 毛利率 | 25.3% | 25.6% | -0.3 百分点 |
| 营业利润 | $5.13亿 | $4.87亿 | +5.5% |
| 营业利润率 | 6.7% | 6.9% | -0.2 百分点 |
| 净利润 | $2.94亿 | $2.43亿 | +21.0% |
| 稀释EPS | $1.05 | $0.41 | +156.1% |
| 经营现金流 | $4.19亿 | $2.23亿 | +87.6% |
| 资本支出 | $2.9亿 | $2.63亿 | +9.9% |
| 自由现金流 | $1.3亿 | -$3990万 | +424.8% |
| R&D | $0 | $0 | – |
| 股权激励费用 | $6200万 | $6150万 | +0.8% |
实际 vs 一致预期
2026-07-30| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $76.7亿 | $75.6亿 | +1.5% |
| EPS(一致预期口径) | $1.05 | $0.66 | +58.9% |
来自2026-07-30发布的Q2 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q2 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Concerts | $64.4亿 | +8.4% | 84.1% | $101亿 | -56.8% | |
| Sponsorship and Advertising | $3.83亿 | +12.5% | 5.0% | $20.4亿 | +231.9% | |
| Ticketing | $8.52亿 | +14.7% | 11.1% | $16.6亿 | -54.4% | |
| Intersegment Eliminations | -$1270万 | – | -0.2% | – | – | |
| Corporate Segment | $0 | – | 0.0% | – | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $26.1亿
- 资本支出
- -$12.3亿
- 股票回购
- $0
- 股息
- $0
- 收购
- -$3.41亿
- 债务净发行
- $24.9亿
- 股权激励费用
- $1.64亿
- 自由现金流
- $13.7亿
- 股东回报 / FCF
- -0.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -161.7× | 73.9× 5年中的3年 | 46.8× – 105.7× |
| EV / EBITDA | 25.8× | 78.7× | 13.3× – 326.7× |
| EV / 营收 | 1.7× | 1.9× | 1.0× – 4.6× |
| 股价 / FCF | 30.1× | 37.5× | 10.6× – 108.3× |
| 股价 / 净资产 | 503.1× | 147.0× 5年中的2年 | 121.9× – 172.0× |
| FCF收益率 | 3.3% | 4.9% | 0.9% – 9.5% |
| 投入资本回报率 | 3.7% | 5.0% | -5.0% – 8.1% |
| 净资产收益率 | 73.3% | -501.6% | -3,247.6% – 517.3% |
分析师
一致目标价 $208.27 (+17.1%)
区间 $183.00 – $222.00 · 评级 Buy
强烈买入0
买入40
持有6
卖出0
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $281亿 | +11.6% | -$0.37 | -55.4% | -476.8× | 12 |
| FY2027 | $308亿 | +9.5% | $1.83 | +591.8% | 97.0× | 13 |
| FY2028 | $337亿 | +9.4% | $2.84 | +54.9% | 62.6× | 10 |
| FY2029 | $369亿 | +9.6% | $4.06 | +42.9% | 43.8× | 4 |
| FY2030 | $434亿 | +17.7% | $3.98 | -2.0% | 44.7× | 4 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Live Nation Entertainment, Inc.在近期10-Q / 10-K文件中标记的全部290项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $2.53亿2025-12-31 | $2.43亿 | +4.2% | $2.53亿 | $2.43亿 | +4.2% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $28.9亿 | $24.6亿 | +17.1% | $20.1亿 | $17.5亿 | +15.0% |
| Accounts Receivable, Allowance for Credit Loss, Current | $9230万 | $8110万 | +13.8% | $7390万 | $7270万 | +1.7% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $2020万 | $997万 | +102.7% | $3080万 | $100万 | +2,972.3% |
| Accrued Insurance, Current | $4.1亿2025-12-31 | $3.17亿 | +29.2% | $4.1亿 | $3.17亿 | +29.2% |
| Accrued Liabilities, Current | $35.6亿2025-12-31 | $33亿 | +7.7% | $35.6亿 | $33亿 | +7.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $21.9亿 | $21.1亿 | +4.0% | $20.6亿 | $19亿 | +8.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$1.42亿 | -$1.52亿 | +6.8% | -$1.15亿 | -$3.35亿 | +65.7% |
| Additional Paid in Capital | $13.9亿 | $17.9亿 | -22.3% | $14.6亿 | $20.6亿 | -29.3% |
| Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | – | – | – | $4.5亿2022-12-31 | $3330万 | +1,248.3% |
| Adjustments to Additional Paid in Capital, Other | $02025-12-31 | – | – | -$2000 | $9400万 | -100.0% |
| Amortization of Debt Issuance Costs | – | – | – | $710万 | $410万 | +73.5% |
| Amortization of Debt Issuance Costs and Discounts | $614万 | $445万 | +38.1% | $2020万 | $1780万 | +13.8% |
| Amortization of Intangible Assets | $6700万 | $6470万 | +3.6% | $2.65亿 | $2.49亿 | +6.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1260万 | 1610万 | -21.6% | 2520万 | 1650万 | +52.9% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $6020万 | $5920万 | +1.7% | $1.57亿 | $1.1亿 | +42.7% |
| Assets | $282亿 | $232亿 | +21.7% | $229亿 | $196亿 | +16.7% |
| Assets, Current | $150亿 | $118亿 | +26.5% | $110亿 | $92.9亿 | +18.1% |
| Business Combination, Acquisition Related Costs | $3090万 | $7910万 | -61.0% | $2.6亿 | $1.29亿 | +102.0% |
| Cash and Cash Equivalents, at Carrying Value | $90.7亿 | $70.6亿 | +28.6% | $70.9亿 | $61亿 | +16.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $91.7亿 | $70.7亿 | +29.7% | $71.1亿 | $61.1亿 | +16.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $8070万 | -$9860万 | +181.8% | $10亿 | -$1.33亿 | +853.4% |
| Common Stock, Par or Stated Value Per Share | $0.012025-12-31 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 4.5亿2025-12-31 | 4.5亿 | 0.0% | 4.5亿 | 4.5亿 | 0.0% |
| Common Stock, Shares, Issued | 2.36亿2025-12-31 | 2.35亿 | +0.5% | 2.36亿 | 2.35亿 | +0.5% |
| Common Stock, Shares, Outstanding | 2.35亿2025-12-31 | 2.34亿 | +0.5% | 2.35亿 | 2.34亿 | +0.5% |
| Common Stock, Value, Issued | $234万 | $232万 | +0.5% | $233万 | $231万 | +0.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $1.08亿 | $5930万 | +82.8% | $1.95亿 | $2.35亿 | -17.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $2.38亿 | $3.72亿 | -36.0% | $7.16亿 | $5.34亿 | +34.2% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $3.46亿 | $4.31亿 | -19.7% | $9.11亿 | $7.69亿 | +18.5% |
| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Change Due to Net Income Attributable to Parent and Effects of Changes, Net | – | – | – | $4.64亿 | $8.66亿 | -46.5% |
| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Net | – | – | – | -$3240万 | -$3000万 | -7.9% |
| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent | – | – | – | $3240万 | $3000万 | +7.9% |
| Construction in Progress, Gross | $8.44亿 | $6.35亿 | +33.1% | $8.31亿 | $3.87亿 | +114.8% |
| Contract with Customer, Liability, Current | $73.3亿 | $59.1亿 | +24.1% | – | – | – |
| Contract with Customer, Liability, Revenue Recognized | $18.7亿 | $16.3亿 | +14.7% | $35.8亿 | $33.2亿 | +7.9% |
| Contractual Obligation | $44.8亿2025-12-31 | $48.9亿 | -8.4% | $44.8亿 | $48.9亿 | -8.4% |
| Contractual Obligation, to be Paid, after Year Five | $3.46亿2025-12-31 | $4.81亿 | -28.0% | $3.46亿 | $4.81亿 | -28.0% |
| Contractual Obligation, to be Paid, Year Five | $1.59亿2025-12-31 | $1.49亿 | +6.6% | $1.59亿 | $1.49亿 | +6.6% |
| Contractual Obligation, to be Paid, Year Four | $4.49亿2025-12-31 | $3.98亿 | +12.8% | $4.49亿 | $3.98亿 | +12.8% |
| Contractual Obligation, to be Paid, Year One | $24.2亿2025-12-31 | $26.4亿 | -8.3% | $24.2亿 | $26.4亿 | -8.3% |
| Contractual Obligation, to be Paid, Year Three | $2.92亿2025-12-31 | $3.12亿 | -6.5% | $2.92亿 | $3.12亿 | -6.5% |
| Contractual Obligation, to be Paid, Year Two | $8.06亿2025-12-31 | $9.07亿 | -11.1% | $8.06亿 | $9.07亿 | -11.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$618万 | $3910万 | -115.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $3.45亿 | $2.53亿 | +36.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $3.6亿 | $3.17亿 | +13.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $2100万 | $2430万 | -13.6% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $8090万 | – | – | – | – | – |
| Debt, Long-term and Short-term, Combined Amount | $92亿 | $64.8亿 | +42.1% | $82亿 | $64.4亿 | +27.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $5520万 | -$5.57亿 | +109.9% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$6820万 | -$1.26亿 | +46.0% |
| Deferred Income Tax Assets, Net | $4.51亿2025-12-31 | $5.78亿 | -22.0% | $4.51亿 | $5.78亿 | -22.0% |
| Deferred Income Tax Expense (Benefit) | $5220万 | $2090万 | +150.4% | -$2050万 | -$7.09亿 | +97.1% |
| Deferred Income Tax Liabilities, Net | $8330万2025-12-31 | $1.4亿 | -40.6% | $8330万 | $1.4亿 | -40.6% |
| Deferred Revenue, Current | $44.6亿2025-12-31 | $37.2亿 | +19.9% | $44.6亿 | $37.2亿 | +19.9% |
| Deferred Revenue, Noncurrent | $7310万2025-12-31 | $1.2亿 | -39.1% | $7310万 | $1.2亿 | -39.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$752万 | -$2470万 | +69.6% |
| Deferred Tax Asset, Interest Carryforward | $7300万2025-12-31 | $6910万 | +5.7% | $7300万 | $6910万 | +5.7% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $1640万2025-12-31 | $1240万 | +31.8% | $1640万 | $1240万 | +31.8% |
| Deferred Tax Assets, Gross | $16.5亿2025-12-31 | $15.5亿 | +6.4% | $16.5亿 | $15.5亿 | +6.4% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标、预期:Financial Modeling Prep。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
数据截至 2026-11-02