Live Nation Entertainment (LYV)
Communication Services · $39.7B market cap · SEC CIK 0001335258
fundamentals score out of 100
Next reports on Nov 3, 2026, after the close, with analysts expecting $1.59 in earnings per share.
The case for LYV
- Revenue growing 10.8% year over year.
- Has compounded revenue at 68.4% a year over five years.
The case against
- Very expensive at 294.9× earnings. Years of growth are already in the price.
- Earnings per share down 86.9%.
- Return on assets of only 0.5%.
- Growth is slowing: revenue up 10.8% this year against 68.4% a year over five.
- Net margin of 0.5% leaves very little room for error.
- Stability is weak (34/100): beta 1.15, a 34% swing over the year.
What the score is made of
Each factor is half a curve over reported figures and half a rank among the other Communication Services companies (momentum is judged against fixed thresholds only), and the five are blended by weight. It describes the last filing and the current price. It is not a forecast.
| Valuewhat you pay for the earnings, sales, assets and cash | 24 |
|---|---|
| Growthhow fast revenue and earnings are moving, this year and over five | 62 |
| Profitabilityhow much of the revenue becomes profit, and how much of that is cash | 28 |
| Momentumhow the price has behaved lately | 56 |
| Stabilityhow violently it moves, what it owes and what it pays you | 34 |
- Equity is a sliver of assets, so return on assets stands in for return on equity, and price-to-book and debt-to-equity are left out.
- Each factor except momentum is half fixed thresholds, half rank among the 19 Communication Services companies.
Key numbers
| Price / earnings | 294.9× |
|---|---|
| Price / book | n/m (equity a sliver of assets) |
| Price / sales | 1.5× |
| Revenue growth (YoY) | +10.8% |
| EPS growth (YoY) | -86.9% |
| Gross margin | 26% |
| Operating margin | 3% |
| Net margin | 1% |
| Return on assets | 0.5% (ROE not meaningful: equity a sliver of assets) |
| Debt / equity | n/m (equity a sliver of assets) |
| Current ratio | 0.85 |
| Dividend yield | none |
| Beta | 1.15 |
| 52-week range | $125.34 – $189.25 |
| Position in that range | 70% of the way up |
| 3-month return | -1.2% |
| 1-year return | +3.3% |
Five years of financials, as filed
Pulled from Live Nation Entertainment's XBRL filings on SEC EDGAR. Italic rows are derived from the rows above.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|
| Revenue | $25.2B | $23.2B | $22.7B | $16.7B | $6.3B |
| Operating income | $1.3B | $825M | $1.1B | $722M | -$418M |
| Net income | $496M | $896M | $557M | $266M | -$651M |
| Operating cash flow | $1.4B | $1.7B | $1.4B | $1.8B | $1.8B |
| Capital expenditure | $1.1B | $647M | $439M | $347M | $153M |
| Total assets | $22.9B | $19.6B | $19.0B | $16.5B | $14.4B |
| Shareholder equity | $271M | $173M | -$52.3M | -$368M | -$583M |
| Cash | $7.1B | $6.1B | $6.2B | $5.6B | $4.9B |
| Free cash flow | $334M | $1.1B | $924M | $1.5B | $1.6B |
| Operating margin | 5.0% | 3.6% | 4.8% | 4.3% | -6.7% |
| Net margin | 2.0% | 3.9% | 2.5% | 1.6% | -10.4% |
| Diluted shares | 232M | 236M | 231M | 232M | 217M |
Share count is up 6.7% over 4 years. Mild issuance.
What Live Nation Entertainment says it does
—Information About Our Executive Officers, the information required by this Item is incorporated by reference to our Definitive Proxy Statement, expected to be filed within 120 days of our fiscal year end. ITEM 11. EXECUTIVE COMPENSATION The information required by this Item is incorporated by reference to our Definitive Proxy Statement, expected to be filed within 120 days of our fiscal year end. ITEM 12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS The information required by this Item is incorporated by reference to our Definitive Proxy Statement, expected to be filed within 120 days of our fiscal year end. ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE The information required by this Item is incorporated by reference to our Definitive Proxy Statement, expected to be filed within 120 days of our fiscal year end. ITEM 14. PRINCIPAL ACCOUNTING FEES…
Risk factors LYV lists in its 10-K
- Risks Relating to Our Business and the Live Events and Ticketing Industries
- We face intense competition in the live music and ticketing industries, and we may not be able to maintain or increase our current revenue, which could adversely affect our business, financial condition and results of operations
- We are dependent upon our ability to lease, acquire and develop live music venues, and if we are unable to do so on acceptable terms, or at all, our results of operations could be adversely affected
- Poor weather adversely affects attendance at our live music events, which could negatively impact our financial performance from period to period
- Risks Relating to Information Technology, Cybersecurity and Intellectual Property
- We may fail to adequately protect our intellectual property rights or may be accused of infringing upon intellectual property rights of third parties
- Risks Relating to Governmental Regulation and Litigation
- We are subject to extensive governmental regulation, and our failure to comply with these regulations could adversely affect our business, financial condition and results of operations
- Unfavorable outcomes in legal proceedings may adversely affect our business and operating results
- General Risks Relating to our Business and Operations
- We may be adversely affected by the occurrence of extraordinary events, such as terrorist attacks or disease epidemics, such as the COVID-19 pandemic
- Exchange rates may cause fluctuations in our results of operations that are not related to our operations
- Costs associated with, and our ability to obtain, adequate insurance could adversely affect our profitability and financial condition
- We depend upon unionized labor for the provision of some of our services and any work stoppages or labor disturbances could disrupt our business; potential union pension obligations could cause us to incur unplanned liabilities