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Live Nation Entertainment

LYV NYSE Movies & Entertainment Financials FY2016–FY2025

Live Nation Entertainment's revenue rose 8.8% to $25.2 billion in fiscal 2025. Its operating margin was 5.0%, up from 3.6% a year earlier. Free cash flow was $334 million, down 69.1%. It paid out $24 million in dividends and buybacks, 7% of free cash flow. The diluted share count fell 1.9%.

Last close · Oct 23, 2026

$173.44

0.6%
Value it Compare
Revenue Total sales reported in the income statement.
$25.2B
8.8% vs prior year
Operating margin Operating income as a share of revenue.
5.0%
1.4 pts
Net income Profit after all expenses, interest and tax.
$496M
44.7%
Free cash flow Cash from operations minus capital spending.
$334M
69.1%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
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Market cap Last close times the latest diluted share count, so it is approximate.
$42.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
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What Live Nation Entertainment does

Live Nation promotes concerts, runs venues and sells tickets. It says it is the largest producer of live music concerts in the world, and that it owns, operates, has exclusive booking rights for or has an equity interest in 460 venues, including House of Blues clubs and The Fillmore in San Francisco. Its artist management companies represent music artists across genres.

The company's core businesses are the promotion of live events, ticketing, and sponsorship and advertising. It earns money from ticket sales and fees, from fans spending at its venues on food, drinks and merchandise, and from sponsors and advertisers that want to reach concertgoers. Its Ticketmaster unit sells tickets through its websites, mobile apps and retail outlets for arenas, stadiums, sports teams and other event organizers, and distributed 646 million tickets in 2025. Live Nation says it connected over 805 million fans across its concerts and ticketing platforms in 55 countries in 2025.

Live Nation says it invests nearly $15 billion a year in artist performances. It plans to expand its venues, concert business and ticketing platform, and to sell more sponsorships. It says it faces intense competition in live music and ticketing.

Legal name
LIVE NATION ENTERTAINMENT, INC.
Fiscal year ends
December 31, 2025
Latest annual report
10-K · Feb 19, 2026
Accession · CIK
0001335258-26-000009
0001335258

Revenue and margins

Live Nation Entertainment had $25.2B of revenue in fiscal 2025, up 8.8% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $334M in fiscal 2025, 1.3% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Live Nation Entertainment returned $23.5M to shareholders in fiscal 2025, 7% of free cash flow. The diluted share count fell 1.9%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Live Nation Entertainment yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.1B and divides by 231.8M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Balance sheet

Cash, debt and the ratios that show how comfortably Live Nation Entertainment can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $4.9B$5.6B$6.2B$6.1B$7.1B
Debt incl. finance leases $5.7B$5.9B$6.6B$6.4B$8.2B
Net debt / EBITDA —0.3x0.2x0.3x0.6x
Interest coverage −1.5x2.6x3.1x2.5x4.0x
Current ratio 1.0x1.0x1.0x1.0x1.0x
Quick ratio 1.0x1.0x1.0x1.0x1.0x
Total assets $14.4B$16.5B$19.0B$19.6B$22.9B
Total liabilities $14.6B$16.4B$18.5B$18.8B$22.0B
Shareholders' equity −$583M−$368M−$52.3M$173M$271M
Net debt (− = net cash) $846M$297M$362M$343M$1.1B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$27.0M

4 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 24, 2026 Brian CapoChief Accounting Officer Sold 2,900 $184.00 $0.5M Form 4
Jun 15, 2026 Jeffrey T. HinsonDirector Sold 2,115 $175.00 $0.4M Form 4
May 8, 2026 Michael RowlesEVP & General Counsel Sold 63,776 $164.24 $10.5M Form 4
May 7, 2026 John HopmansEVP, M&A and Strategic Finance Sold 93,078 $166.07 $15.5M Form 4
Mar 10, 2026 Jeffrey T. HinsonDirector Sold 944 $165.87 $0.2M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✕ ✓ ✓
Share count didn't rise ✓ ✕ ✓
Gross margin rose — — —
Revenue rose relative to assets ✓ ✕ ✓
F-score 7 / 86 / 86 / 8
Accruals ratio −4.5%−4.3%−4.2%
Altman Z'' −0.160.050.25

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Live Nation Entertainment LYV $42.3B 8.8% 5.0% 1.3% — — 6
Netflix NFLX $276.2B 15.9% 29.5% 20.9% 36.7% 19.0x 7 Compare →
Disney DIS $196.1B 3.4% 18.6% 10.7% 11.8% 23.2x 7 Compare →
Warner Music Group WMG — 4.4% 10.4% 8.0% 12.2% — — Compare →
AMC Entertainment AMC $2.1B 4.6% −0.4% −7.6% −0.8% — 2 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $7.8B $9.7B $10.8B $11.5B $1.9B $6.3B $16.7B $22.7B $23.2B $25.2B
Operating income $195M $91.4M $273M $325M −$1.7B −$418M $722M $1.1B $825M $1.3B
Interest expense $107M $108M $141M $158M $227M $282M $279M $350M $326M $316M
Pretax income $48.3M −$9.4M $131M $185M −$1.9B −$611M $491M $913M $739M $1.0B
Income tax $28.0M −$17.2M $40.8M $66.9M −$28.9M −$2.5M $116M $210M −$392M $340M
Net income $2.9M −$6.0M $60.2M $69.9M −$1.7B −$651M $266M $557M $896M $496M
Diluted EPS −$0.23 −$0.48 −$0.09 −$0.02 −$8.12 −$3.09 $0.52 $1.34 $2.74 −$0.24
Diluted shares 0.20B 0.20B 0.21B 0.21B 0.21B 0.22B 0.23B 0.23B 0.24B 0.23B
Cash flow
Cash from operations $599M $624M $942M $470M −$1.1B $1.8B $1.8B $1.4B $1.7B $1.4B
Capital expenditure $174M $238M $240M $324M $214M $153M $347M $439M $647M $1.1B
Free cash flow $425M $385M $702M $146M −$1.3B $1.6B $1.5B $924M $1.1B $334M
Depreciation and amortization $319M $372M $387M $444M $485M $416M $450M $517M $550M $639M
Stock-based compensation $32.7M $42.8M $45.6M $48.8M $117M $209M $110M $116M $110M $155M
Acquisitions $212M $47.9M $120M $235M $41.1M $384M $257M $17.5M $98.3M $80.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $23.5M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $23.5M
Balance sheet
Cash and short-term investments $1.5B $1.8B $2.4B $2.5B $2.5B $4.9B $5.6B $6.2B $6.1B $7.1B
Total debt $2.3B $2.3B $2.8B $3.3B $4.9B $5.7B $5.9B $6.6B $6.4B $8.2B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $2.7B $3.2B $3.8B $4.2B $3.6B $6.7B $8.2B $9.5B $9.3B $11.0B
Current liabilities $2.5B $3.6B $3.7B $4.1B $3.8B $6.9B $8.3B $10.0B $9.4B $11.0B
Inventory $15.1M $17.5M $12.6M $16.1M $22.0M $33.8M $38.7M $45.1M $50.1M $56.6M
Property and equipment, net $752M $886M $947M $1.1B $1.1B $1.1B $1.5B $2.1B $2.4B $3.4B
Total assets $6.8B $7.5B $8.5B $11.0B $10.6B $14.4B $16.5B $19.0B $19.6B $22.9B
Total liabilities $5.4B $6.1B $7.2B $9.5B $10.7B $14.6B $16.4B $18.5B $18.8B $22.0B
Shareholders' equity $1.1B $1.2B $1.1B $1.1B −$472M −$583M −$368M −$52.3M $173M $271M
Margins
Operating margin 2.5% 0.9% 2.5% 2.8% −88.8% −6.7% 4.3% 4.8% 3.6% 5.0%
EBITDA margin 6.6% 4.8% 6.1% 6.7% −62.8% −0.0% 7.0% 7.1% 5.9% 7.5%
Net margin 0.0% −0.1% 0.6% 0.6% −92.7% −10.4% 1.6% 2.5% 3.9% 2.0%
FCF margin 5.4% 4.0% 6.5% 1.3% −69.7% 26.0% 8.9% 4.1% 4.7% 1.3%
Returns
Return on capital 4.5% 3.6% 10.2% 10.2% −57.5% −22.8% — — — —
Return on capital employed 4.7% 2.2% 6.3% 5.6% −24.2% −5.8% 9.2% 12.6% 8.5% 11.3%
Return on equity 0.3% −0.5% 5.3% 6.2% — — — — — —
Return on assets 0.1% −0.1% 0.8% 0.7% −16.0% −5.2% 1.7% 3.1% 4.6% 2.3%
Growth
Revenue growth 8.0% 23.8% 11.4% 7.1% −83.9% 236.8% 166.1% 36.2% 1.9% 8.8%
Net income growth — −304.5% — 16.0% −2,567.5% — — 109.0% 60.9% −44.7%
EPS growth — — — — — — — 157.7% 104.5% −108.8%
FCF growth 157.0% −9.4% 82.2% −79.2% −987.1% — −8.6% −37.9% 16.7% −69.1%
Share count change 0.6% 1.4% 1.2% 1.3% 1.0% 2.3% 6.6% −0.3% 2.3% −1.9%
Financial health
Net debt / EBITDA 1.5x 1.0x 0.7x 1.1x — — 0.3x 0.2x 0.3x 0.6x
Debt / equity 2.1x 2.0x 2.6x 2.9x — — — — — —
Interest coverage 1.8x 0.9x 1.9x 2.1x −7.3x −1.5x 2.6x 3.1x 2.5x 4.0x
Current ratio 1.1x 0.9x 1.0x 1.0x 1.0x 1.0x 1.0x 1.0x 1.0x 1.0x
Quick ratio 1.1x 0.9x 1.0x 1.0x 1.0x 1.0x 1.0x 1.0x 1.0x 1.0x
Capital allocation
Capex / revenue 2.2% 2.5% 2.2% 2.8% 11.5% 2.4% 2.1% 1.9% 2.8% 4.2%
Stock comp / revenue 0.4% 0.4% 0.4% 0.4% 6.3% 3.3% 0.7% 0.5% 0.5% 0.6%
Payouts / FCF 0.0% 0.0% 0.0% 0.0% — 0.0% 0.0% 0.0% 0.0% 7.1%
Quality scores
Piotroski F-score 5.0 4.0 6.0 5.0 1.0 5.0 7.0 7.0 6.0 6.0
Altman Z'' 0.1 −0.5 0.1 0.1 −2.0 −1.0 −0.4 −0.2 0.1 0.3
Accruals ratio −9.2% −8.8% −11.0% −4.1% −6.0% −19.5% −10.2% −4.5% −4.3% −4.2%

Source: SEC EDGAR XBRL filings (CIK 0001335258). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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