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Live Nation Entertainment, Inc.

LYV Communication Services Entertainment

Live Nation Entertainment, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $25.2 billion, up 8.83% from fiscal 2024.

Revenue
+18.9%
EPS
+135.1%
Free cash flow
−131.9%
Total debt
+32.5%

Quarter to September 2026, against a year earlier

182.07 1.11 −0.61%
Market cap
$42.7B
P/E
0.0×
Fwd P/E
−358×
Dividend yield
—
F-score
4/9
Altman Z
2.11
Beneish M
−2.51
Dividend safety
26/100
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by regions Fiscal 2025

  • Total Domestic Operations
  • Europe
  • Total Other Foreign Operations

Every year since 2009 →

Insider Decisions last twelve months

Sold, $m 26.99
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — 1 — 2 1 — 1 — — —
Insider Ownership 31.40%

Capital & Financial Ratios $m

Size
Market Cap 42,710.00
Revenue ttm 27,878.43
Net income ttm 453.46
Free cash flow ttm 913.79
Net debt Q 9,749.59
Valuation
P/E 0.00
Forward P/E (358.00) (negative: loss-making)
Price / sales 1.52
Forward P/S Powerpack
Price / FCF 46.85
Price / book 35.75 (above 6: high)
Financial health
Current ratio Q 0.95 (below 1: weak)
Debt / equity Q 8.21 (above 2: weak)
Interest coverage Q 8.73
Growth
Revenue growth Q +18.89% (above 0%: growing)
Operating income growth Q +12.56% (above 0%: growing)
EPS, this year −49.72% (below 0%: weak)
EPS, next year A +616.25% (at or above 15%: strong)
Revenue, next year A +11.59% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A +3.40%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 1.5×, against a ten-year median of 1.2×; over the ten years it ranged from 0.6× in 2016 to 27.5× in 2021.
P/S against its own 10 years 77.45%
10-year low 10-year high
P/B against its own 10 years 60.74%
10-year low 10-year high
EV/Sales against its own 10 years 77.45%
10-year low 10-year high
EV/FCF against its own 10 years 86.02%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 6,239 6,095 7,094 —
Receivables 2,025 1,747 2,009 3,289
Inventory — — — —
Other 122 200 417 505
9,533 9,290 10,974 14,257
2023 2024 2025 Q'26
Payables 2,134 1,860 1,941 —
ST’ Debt 1,134 261 588 1,860
Other 128 216 482 253
9,984 9,358 11,029 14,984

Compound Annual Growth %

10y 5y 3y
Sales 13.28% 68.39% 14.74%
Cash Flow 16.31% 0.00% (8.73%)
Earnings 0.00% 0.00% 0.00%
Book Value (4.70%) 0.00% 112.05%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate 0.59 Actual 1.05

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 1.21 0.73 Miss by 0.48
Q4 FY25 −1.08 −1.06 Beat by 0.02
Q1 FY26 −0.27 −0.32 Miss by 0.05
Q2 FY26 0.59 1.05 Beat by 0.46
Q3 FY26 1.50 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (1.85) 1.05 1.69 — —
’25 (0.32) 0.41 0.73 (1.06) (0.24)
’24 (0.56) 1.03 1.66 0.56 2.74
’23 (0.25) 1.02 1.78 (1.34) 1.37
’22 (0.22) 0.66 1.39 (1.09) 0.52
’21 (1.44) (0.90) 0.19 (0.96) (3.09)
’20 (0.94) (2.67) (2.45) (2.04) (8.12)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,793 7,667 10,105 — —
’25 3,382 7,007 8,499 6,314 25,201
’24 3,800 6,023 7,651 5,682 23,156
’23 3,127 5,631 8,155 5,814 22,726
’22 1,803 4,434 6,154 4,291 16,681
’21 291 576 2,699 2,703 6,268
’20 1,366 74 184 237 1,861
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 2,339 419 (658) — —
’25 1,321 223 (96) (54) 1,395
’24 989 412 (721) 1,045 1,725
’23 1,156 491 (892) 608 1,363
’22 1,198 349 (619) 907 1,835
’21 75 1,095 (145) 756 1,781
’20 632 (1,022) (567) (126) (1,083)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 2,030 130 (861) — —
’25 1,130 (20) (371) (413) 326
’24 843 224 (887) 882 1,070
’23 1,039 370 (996) 475 888
’22 1,136 275 (695) 766 1,482
’21 45 1,050 (187) 707 1,621
’20 547 (1,085) (611) (162) (1,306)
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 22.8% a year for ten years. It grew 9.4% a year over the last ten.

Implied
22.8%
10 years, reported
9.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 7,826 9,687 10,788 11,548 1,861 6,268 16,681 22,726 23,156 25,201 27,878 +13.9% 28,122 30,730 33,511 +10.0%
Gross margin, % 27.95 25.86 26.14 26.68 24.65 30.51 25.98 23.92 24.94 25.55 0.00 (2.4) pt
EBT 48 (9) 131 185 (1,857) (611) 491 913 739 1,031 746 +40.5%
EBT margin, % 0.62 (0.10) 1.22 1.60 (99.76) (9.75) 2.94 4.02 3.19 4.09 2.67 +3.5 pt
Net income 20 8 90 118 (1,828) (609) 375 704 1,131 691 453 +48.0%
Per share, $
Per share, $ Revenue 38.73 47.27 52.00 54.97 8.77 28.86 74.20 99.40 100.62 108.70 119.59 +12.1%
Earnings (0.23) (0.48) (0.09) (0.02) (8.12) (3.09) 0.53 1.38 2.77 (0.24) (0.12) +0.5%
Cash flow 2.96 3.04 4.54 2.24 (5.10) 8.20 8.16 5.96 7.50 6.02 8.78 +8.2%
Capex (0.89) (1.22) (1.33) (1.74) (1.05) (0.74) (1.57) (2.08) (2.85) (4.61) (4.86) +20.0%
Free cash flow 2.07 1.83 3.21 0.49 (6.15) 7.46 6.59 3.88 4.65 1.41 3.92 (4.2%)
Book value 6.68 6.92 6.47 6.97 (0.63) (0.87) 0.42 2.41 3.56 3.86 5.09 (5.9%)
Shares, m 202 205 207 210 212 217 225 229 230 232 233 +1.5%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 85.08 70.62 46.75 0.00 0.00 20.2
P/S 0.71 0.90 0.95 1.30 8.38 4.15 0.93 0.92 1.29 1.31 1.52 2.1
P/B 4.10 6.16 7.61 10.26 0.00 0.00 165.04 38.03 36.39 36.94 35.75 30.5
EV/Sales 0.81 0.95 0.99 1.37 9.65 4.28 0.95 0.94 1.30 1.35 1.55 2.3
EV/FCF 15.69 24.62 15.99 156.15 (13.49) 16.62 10.65 24.03 28.39 104.81 47.60 38.3
Cash, $m
Cash, $m Operating cash flow 599 624 942 470 (1,083) 1,781 1,835 1,363 1,725 1,395 2,047 +9.9%
Capex (180) (249) (275) (366) (223) (160) (353) (475) (655) (1,070) (1,133) +21.9%
Free cash flow 419 374 666 104 (1,306) 1,621 1,482 888 1,070 326 914 (2.7%)
Balance, $m
Balance, $m Working capital 213 (424) 98 85 (147) (172) (144) (451) (68) (54) (727) n/m
Net debt 786 471 437 835 2,362 843 291 354 343 1,105 9,750 +3.9%
Shareholders’ equity 1,350 1,418 1,343 1,464 (134) (188) 94 552 819 894 1,187 (4.5%)
Returns, %
Returns, % ROA (0.73) (1.37) (0.22) (0.05) (15.98) (5.37) 0.78 1.74 3.30 (0.26) 0.00 +0.5 pt
ROIC 5.70 3.02 9.57 8.83 (46.37) (39.90) 117.24 74.81 44.36 39.10 5.15 +33.4 pt
ROE (3.36) (7.06) (1.28) (0.35) (259.11) 416.30 (252.85) 95.84 93.10 (6.40) 0.00 (3.0) pt
People
People Employees 36,900 36,800 38,500 38,500 23,600 22,200 28,300 31,700 32,200 34,700 — (0.7%)
Revenue/emp, $m 0.21 0.26 0.28 0.30 0.08 0.28 0.59 0.72 0.72 0.73 — +14.7%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Live Nation Entertainment promotes live events, operates music venues, sells tickets and helps advertisers reach fans. Founded in 2005 and headquartered in Beverly Hills, California, it is led by chief executive Michael Rapino.

Its Concerts business works with artists and their representatives to put on shows and tours. It books performers, markets events, arranges venues and production services, and sells tickets. It also produces festivals and manages artists. For an event, Live Nation may use a venue it operates or rent one from another owner.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by regions, and margins
Total Domestic Operations 14,329 56.86%
Europe 5,815 23.08%
Total Other Foreign Operations 5,057 20.06%
Gross margin 25.55%
Operating margin 4.96%
Pre-tax margin 4.09%

Revenue by segment since 2009

Live Nation Entertainment, Inc. vs peers in Entertainment (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
LYV Live Nation Entertainment, Inc. $42.7B — (loss-making) — (loss-making) +18.89% (above 0%: growing) +135.14% (above 0%: growing) −131.90% (below 0%: shrinking) 0.00% 8.83%
SKYD Skydance Corporation $41.1B — (loss-making) 9.3× +0.93% (above 0%: growing) −82.61% (below 0%: shrinking) +126.32% (above 0%: growing) 35.73% 6.87% Compare
TKO TKO Group Holdings, Inc. $35.8B 63.1× 40.7× +18.24% (above 0%: growing) +13.33% (above 0%: growing) −6.77% (below 0%: shrinking) 64.05% 27.78% Compare
FWONA Liberty Media Corporation - Liberty Formula One Series A $27.0B 95.8× — +24.06% (above 0%: growing) −98.69% (below 0%: shrinking) +35.16% (above 0%: growing) 20.97% 0.00% Compare
FOX Fox Corporation $26.9B 12.6× 10.6× +22.28% (above 0%: growing) +72.21% (above 0%: growing) +314.96% (above 0%: growing) 48.30% 33.32% Compare
FOXA Fox Corporation $26.8B 14.2× 10.6× +22.28% (above 0%: growing) +72.21% (above 0%: growing) +314.96% (above 0%: growing) 48.30% 33.32% Compare
FWONK Liberty Media Corporation - Liberty Formula One Series C $26.5B 102× 89.9× +24.06% (above 0%: growing) −98.69% (below 0%: shrinking) +35.16% (above 0%: growing) 20.97% 0.00% Compare
ROKU Roku, Inc. $23.9B 46.4× 52.9× +24.07% (above 0%: growing) +625.53% (above 0%: growing) +72.39% (above 0%: growing) 43.18% 10.92% Compare
NWS News Corporation $14.8B 26.0× — +6.39% (above 0%: growing) +45.00% (above 0%: growing) +160.00% (above 0%: growing) 56.69% 0.00% Compare
Median of peers $26.9B 46.4× 25.7× +22.28% +29.17% +99.36% 45.74% 8.90%

All 48 Entertainment stocks →

From the latest earnings call

Updated

  • On the Q2 call, CFO Joe Berchtold said faster fan growth at operated venues than at third-party venues was the foundation for expected margin expansion.
  • Berchtold said Live Nation had acquired three arenas and expected its venue construction and acquisitions to add capacity for about 15 million fans in 2026 and 2027.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
Susquehanna Nov 5, 2026 Target cut Hold 183.00

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 83.15%
Held by the ten largest 41.47%
Holder Shares Stake Change
Vanguard 20.44m 8.67% −33.13k
BlackRock 13.52m 5.74% +36.75k
State Street 11.39m 4.83% −1.32m
Fidelity (FMR) 10.70m 4.54% +2.80m
Principal Financial 9.98m 4.23% −1.13m
Capital Group 9.57m 4.06% −41.35k
Bank of America 6.67m 2.83% +106.75k
Independent Franchise Partners LLP 6.01m 2.55% +148.68k
Morgan Stanley 4.75m 2.02% +707.17k
CPP Investments 4.69m 1.99% −4.11m
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 24 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 32.55m 52.28m 193.93
2024 32.96m 94.27m 176.24
2023 23.44m 68.19m 127.38
2022 139.01m 35.62m 94.91
2021 13.84m 84.31m 162.89

Ownership

Directors and executive officers, together 2.89%
Liberty Live Holdings, Inc. 29.62%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Live Nation Entertainment, Inc. (LYV) Latest News

6 Nov

Impact 3 · · GuruFocus.com

5 Nov

Impact 3 · · PR Newswire
Impact 3 · · Barchart

29 Oct

Impact 3 · · Zacks

22 Oct

Impact 3 · · StockStory
Impact 3 · · PR Newswire

20 Oct

Impact 3 · · Business Wire

16 Oct

Impact 4 · · Barchart

7 Oct

Impact 3 · · PR Newswire

6 Oct

Impact 4 · · PR Newswire

3 Oct

Impact 3 · · Simply Wall St.

20 Sep

Impact 4 · · TIKR

16 Sep

Impact 3 ·

14 Sep

Impact 4 · · CNW Group
Impact 3 ·
Impact 3 ·

17 Aug

Impact 3 ·

13 Aug

Impact 3 ·

12 Aug

Impact 4 ·

1 Aug

Impact 4 ·

31 Jul

Impact 4 ·
Impact 3 · · MarketBeat
Impact 3 · transcript

30 Jul

Impact 3 ·
Impact 3 ·
Impact 3 ·

29 Jul

Impact 3 ·

26 Jul

Impact 3 ·

23 Jul

Impact 3 ·

21 Jul

Impact 3 · · Proactive Investors

LYV metrics, ten years each

stockrow.com/LYV · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com