<p>现场之国娱乐（LYV）正在加深其在亚洲的布局，通过接管曼谷的影响力竞技场的运营，结合场馆升级，推动更多演出、品牌合作和更高质量的粉丝体验。</p>
<p>查看我们对现场之国娱乐的最新分析。</p>
<p>这一亚洲扩张的举措正值现场之国的股价为 141.1 美元，过去一个月的股价回报超过 8%，但过去三个月的表现较弱，而其大约 100% 的三年总股东回报显示，长期的增长势头依然强劲。</p>
<p>如果这种以场馆为主导的增长故事吸引你，值得关注其他在快速增长的股票中拥有高内部持股的娱乐公司。</p>
<p>随着股价接近分析师的目标，长期回报已经令人印象深刻，现场之国是否仍在低于其真实潜力交易，还是投资者已经完全将这一全球增长的下一阶段计入？</p>
<h2>最受欢迎的叙述：16.5% 被低估</h2>
<p>现场之国以 141.1 美元收盘，而叙述的公允价值接近 169 美元，当前价格暗示市场正在低估更强劲的盈利增长潜力。</p>
<blockquote>
<p><em>持续关注垂直整合，特别是在全球场馆开发和运营方面，使现场之国能够捕获更大份额的事件价值链，促进运营效率，并增强附加收入（例如，赞助、食品和饮料、VIP 套餐），直接有利于净利润和整体盈利。</em></p>
</blockquote>
<p>阅读完整叙述。</p>
<p>好奇这种以场馆为主导的战略如何转化为更高的估值？该叙述依赖于强劲的盈利加速、更高的利润率和与顶级增长故事相媲美的未来溢价倍数。</p>
<p><strong>结果：公允价值为 169.05 美元（被低估）</strong></p>
<p>完整阅读叙述，了解预测背后的原因。</p>
<p>然而，这种乐观的叙述可能会因对 Ticketmaster 的监管审查升级和现场之国加速国际场馆扩张的执行风险而受到干扰。</p>
<p>了解这一现场之国娱乐叙述的关键风险。</p>
<h2>另一种观点：基于盈利的估值看起来被高估</h2>
<p>虽然叙述模型指向 16.5% 的上行空间，但简单的市盈率视角呈现出截然不同的图景。现场之国的市盈率约为 101.7 倍，远高于美国娱乐行业的 20.5 倍、同行平均的 61 倍，甚至高于其自身的 37.3 倍公允比率。这一差距表明，投资者已经在为多年的增长支付溢价，这可能增加了如果预期下滑而导致痛苦重置的风险。</p>
<p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b681960e-a854-4b99-9de2-eb347ac984d7/chart/pe-multiple-vs-industry?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="1640" height="650" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b681960e-a854-4b99-9de2-eb347ac984d7/chart/pe-multiple-vs-industry"/></p>
<p>纽约证券交易所：LYV 截至 2025 年 12 月的市盈率</p>
<h2>自建现场之国娱乐叙述</h2>
<p>如果你对这些观点不太信服，或者更喜欢自己深入数字，你可以在几分钟内构建一个自定义视图：按你的方式进行。</p>
<p>进行现场之国娱乐研究的一个很好的起点是我们的分析，强调两个关键奖励和一个可能影响你投资决策的重要警示信号。</p>
<h2>准备好更多高信念的想法了吗？</h2>
<p>不要止步于一个机会。如果你今天采取这些想法，你下一个市场赢家可能在 Simply Wall St 筛选器中等待着你。</p>
<ul>
<li>通过针对这些 913 只被低估的股票，捕获严重的上行潜力，这些股票基于现金流仍然拥有强大的基本面和有吸引力的长期现金流特征。</li>
<li>通过筛选这些 24 只 AI 便士股票，定位你的投资组合在创新的前沿，关注早期阶段的领导者。</li>
<li>通过关注这些 12 只收益率超过 3% 的股息股票，锁定可靠的现金流，构建一个在你等待时为你带来收益的投资组合。</li>
</ul>
<p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
<p>移动基础设施用于国防和灾难</p>
<p>下一波机器人技术不是类人机器人，而是能够在 30 分钟内提供 5G、ISR 和雷达的全自动塔，随处可用。</p>
<p>在下一轮合同之前获取投资者简报</p>
<p>由 CiTech 赞助</p>

现场之国娱乐

<p>现场之国娱乐正在通过接管曼谷的影响力竞技场（Impact Arena）来扩大在亚洲的业务，旨在进行场馆升级和增加演出。尽管长期股东回报强劲，但其当前股价为 141.1 美元，相较于 169 美元的公允价值被认为低估了 16.5%。然而，其高市盈率表明投资者可能为增长支付了过高的价格，这增加了如果预期未能实现的风险。分析强调了潜在的上行空间和风险，敦促投资者考虑更广泛的市场机会</p>

<p>Live Nation Entertainment (LYV) is deepening its footprint in Asia by taking over operations at Bangkok's Impact Arena, pairing venue upgrades with a push for more shows, brand partnerships, and higher quality fan experiences.</p>
<div class="lb-trans"><p>现场之国娱乐（LYV）正在加深其在亚洲的布局，通过接管曼谷的影响力竞技场的运营，结合场馆升级，推动更多演出、品牌合作和更高质量的粉丝体验。</p>
</div><p>See our latest analysis for Live Nation Entertainment.</p>
<div class="lb-trans"><p>查看我们对现场之国娱乐的最新分析。</p>
</div><p>That Asia push comes as Live Nation’s share price sits at $141.1, with a solid 1 month share price return of just over 8 percent but a weaker 3 month stretch, while its roughly 100 percent 3 year total shareholder return shows that long term momentum has still been powerful overall.</p>
<div class="lb-trans"><p>这一亚洲扩张的举措正值现场之国的股价为 141.1 美元，过去一个月的股价回报超过 8%，但过去三个月的表现较弱，而其大约 100% 的三年总股东回报显示，长期的增长势头依然强劲。</p>
</div><p>If this kind of venue led growth story appeals to you, it is worth seeing which other entertainment names are popping up in fast growing stocks with high insider ownership.</p>
<div class="lb-trans"><p>如果这种以场馆为主导的增长故事吸引你，值得关注其他在快速增长的股票中拥有高内部持股的娱乐公司。</p>
</div><p>With the stock just shy of analysts’ targets and long term returns already impressive, is Live Nation still trading below its true potential, or are investors now fully pricing in this next leg of global growth?</p>
<div class="lb-trans"><p>随着股价接近分析师的目标，长期回报已经令人印象深刻，现场之国是否仍在低于其真实潜力交易，还是投资者已经完全将这一全球增长的下一阶段计入？</p>
</div><h2>Most Popular Narrative: 16.5% Undervalued</h2>
<div class="lb-trans"><h2>最受欢迎的叙述：16.5% 被低估</h2>
</div><p>With Live Nation closing at $141.1 against a narrative fair value near $169, the current price implies the market is discounting a much stronger earnings runway.</p>
<div class="lb-trans"><p>现场之国以 141.1 美元收盘，而叙述的公允价值接近 169 美元，当前价格暗示市场正在低估更强劲的盈利增长潜力。</p>
</div><blockquote>
<p><em>Continued focus on vertical integration, especially in global venue development and operation, allows Live Nation to capture a greater share of the event value chain, facilitates operational efficiency, and enhances ancillary revenues (e.g., sponsorships, food and beverage, VIP packages), directly benefiting net margins and overall earnings.</em></p>
</blockquote>
<div class="lb-trans"><blockquote>
<p><em>持续关注垂直整合，特别是在全球场馆开发和运营方面，使现场之国能够捕获更大份额的事件价值链，促进运营效率，并增强附加收入（例如，赞助、食品和饮料、VIP 套餐），直接有利于净利润和整体盈利。</em></p>
</blockquote>
</div><p>Read the complete narrative.</p>
<div class="lb-trans"><p>阅读完整叙述。</p>
</div><p>Curious how this venue led strategy translates into that higher valuation? The narrative leans on powerful earnings acceleration, richer margins, and a premium future multiple that rivals top tier growth stories.</p>
<div class="lb-trans"><p>好奇这种以场馆为主导的战略如何转化为更高的估值？该叙述依赖于强劲的盈利加速、更高的利润率和与顶级增长故事相媲美的未来溢价倍数。</p>
</div><p><strong>Result: Fair Value of $169.05 (UNDERVALUED)</strong></p>
<div class="lb-trans"><p><strong>结果：公允价值为 169.05 美元（被低估）</strong></p>
</div><p>Have a read of the narrative in full and understand what's behind the forecasts.</p>
<div class="lb-trans"><p>完整阅读叙述，了解预测背后的原因。</p>
</div><p>However, this upbeat narrative could be derailed by escalating regulatory scrutiny on Ticketmaster and by execution risks as Live Nation accelerates international venue expansion.</p>
<div class="lb-trans"><p>然而，这种乐观的叙述可能会因对 Ticketmaster 的监管审查升级和现场之国加速国际场馆扩张的执行风险而受到干扰。</p>
</div><p>Find out about the key risks to this Live Nation Entertainment narrative.</p>
<div class="lb-trans"><p>了解这一现场之国娱乐叙述的关键风险。</p>
</div><h2>Another View: Valuation Looks Stretched on Earnings</h2>
<div class="lb-trans"><h2>另一种观点：基于盈利的估值看起来被高估</h2>
</div><p>While the narrative model points to 16.5 percent upside, a simple price to earnings lens paints a very different picture. Live Nation trades on about 101.7 times earnings, far above the US Entertainment industry at 20.5 times, the peer average at 61 times, and even its own 37.3 times fair ratio. That gap suggests investors are already paying up for years of growth, which may raise the risk of a painful reset if expectations slip.</p>
<div class="lb-trans"><p>虽然叙述模型指向 16.5% 的上行空间，但简单的市盈率视角呈现出截然不同的图景。现场之国的市盈率约为 101.7 倍，远高于美国娱乐行业的 20.5 倍、同行平均的 61 倍，甚至高于其自身的 37.3 倍公允比率。这一差距表明，投资者已经在为多年的增长支付溢价，这可能增加了如果预期下滑而导致痛苦重置的风险。</p>
</div><p>See what the numbers say about this price — find out in our valuation breakdown.</p>
<div class="lb-trans"><p>查看数字对这一价格的看法——在我们的估值分析中了解更多。</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/company/b681960e-a854-4b99-9de2-eb347ac984d7/chart/pe-multiple-vs-industry" alt="" original-src="https://images.simplywall.st/company/b681960e-a854-4b99-9de2-eb347ac984d7/chart/pe-multiple-vs-industry"/></p>
<p>NYSE:LYV PE Ratio as at Dec 2025</p>
<div class="lb-trans"><p>纽约证券交易所：LYV 截至 2025 年 12 月的市盈率</p>
</div><h2>Build Your Own Live Nation Entertainment Narrative</h2>
<div class="lb-trans"><h2>自建现场之国娱乐叙述</h2>
</div><p>If you are not convinced by these perspectives or prefer to dig into the numbers yourself, you can build a custom view in minutes: Do it your way.</p>
<div class="lb-trans"><p>如果你对这些观点不太信服，或者更喜欢自己深入数字，你可以在几分钟内构建一个自定义视图：按你的方式进行。</p>
</div><p>A great starting point for your Live Nation Entertainment research is our analysis highlighting 2 key rewards and 1 important warning sign that could impact your investment decision.</p>
<div class="lb-trans"><p>进行现场之国娱乐研究的一个很好的起点是我们的分析，强调两个关键奖励和一个可能影响你投资决策的重要警示信号。</p>
</div><h2>Ready for more high conviction ideas?</h2>
<div class="lb-trans"><h2>准备好更多高信念的想法了吗？</h2>
</div><p>Do not stop with one opportunity. Your next market winner could be waiting in the Simply Wall St screener if you act on these ideas today.</p>
<div class="lb-trans"><p>不要止步于一个机会。如果你今天采取这些想法，你下一个市场赢家可能在 Simply Wall St 筛选器中等待着你。</p>
</div><ul>
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</ul>
<div class="lb-trans"><ul>
<li>通过针对这些 913 只被低估的股票，捕获严重的上行潜力，这些股票基于现金流仍然拥有强大的基本面和有吸引力的长期现金流特征。</li>
<li>通过筛选这些 24 只 AI 便士股票，定位你的投资组合在创新的前沿，关注早期阶段的领导者。</li>
<li>通过关注这些 12 只收益率超过 3% 的股息股票，锁定可靠的现金流，构建一个在你等待时为你带来收益的投资组合。</li>
</ul>
</div><p><em>This article by Simply Wall St is general in nature. <strong>We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice.</strong> It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.</em></p>
<div class="lb-trans"><p><em>本文由 Simply Wall St 撰写，内容具有一般性。<strong>我们提供基于历史数据和分析师预测的评论，仅使用无偏见的方法，我们的文章并不旨在提供财务建议。</strong> 它不构成买入或卖出任何股票的推荐，也不考虑你的目标或财务状况。我们旨在为你提供以基本数据驱动的长期分析。请注意，我们的分析可能未考虑最新的价格敏感公司公告或定性材料。Simply Wall St 在提到的任何股票中没有持仓。</em></p>
</div><p>Mobile Infrastructure for Defense and Disaster</p>
<div class="lb-trans"><p>移动基础设施用于国防和灾难</p>
</div><p>The next wave in robotics isn't humanoid. Its fully autonomous towers delivering 5G, ISR, and radar in under 30 minutes, anywhere.</p>
<div class="lb-trans"><p>下一波机器人技术不是类人机器人，而是能够在 30 分钟内提供 5G、ISR 和雷达的全自动塔，随处可用。</p>
</div><p>Get the investor briefing before the next round of contracts</p>
<div class="lb-trans"><p>在下一轮合同之前获取投资者简报</p>
</div><p>Sponsored On Behalf of CiTech</p>
<div class="lb-trans"><p>由 CiTech 赞助</p>
</div>

现场之国娱乐（LYV）：随着其通过在曼谷的 Impact Arena 的举措扩展场馆足迹，重新评估其估值