AMC Entertainment vs Live Nation Entertainment
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The short version
- Live Nation Entertainment is the larger business, with $25.2B of revenue in fiscal 2025 against $4.8B for AMC Entertainment, about 5.2 times as much.
- Live Nation Entertainment grew revenue faster (8.8%, against 4.6%).
- Live Nation Entertainment kept more of each dollar of sales as operating profit (5.0% operating margin, against −0.4%).
- Live Nation Entertainment turned more of its sales into free cash flow (1.3% FCF margin, against −7.6%).
| Latest fiscal year | AMC · FY25 | LYV · FY25 |
|---|---|---|
| Size | ||
| Market cap | $2.1B | $42.3B |
| Revenue | $4.8B | $25.2B |
| Free cash flow | −$366M | $334M |
| Net income | −$632M | $496M |
| Growth | ||
| Revenue growth | 4.6% | 8.8% |
| 5-year growth | 31.3% | 68.4% |
| Share count change | 42.1% | −1.9% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | −0.4% | 5.0% |
| Net margin | −13.0% | 2.0% |
| FCF margin | −7.6% | 1.3% |
| Return on capital | −0.8% | — |
| Return on equity | — | — |
| Balance sheet | ||
| Net debt | $3.6B | $1.1B |
| Net debt / EBITDA | 12.3x | 0.6x |
| Dividends and buybacks | $0.0M | $23.5M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 2 | 6 |
Revenue
FY16
AMC $3.2B
LYV $7.8B
FY17
AMC $5.1B
LYV $9.7B
FY18
AMC $5.5B
LYV $10.8B
FY19
AMC $5.5B
LYV $11.5B
FY20
AMC $1.2B
LYV $1.9B
FY21
AMC $2.5B
LYV $6.3B
FY22
AMC $3.9B
LYV $16.7B
FY23
AMC $4.8B
LYV $22.7B
FY24
AMC $4.6B
LYV $23.2B
FY25
AMC $4.8B
LYV $25.2B
AMC
LYV
Operating margin
FY16
AMC 6.6%
LYV 2.5%
FY17
AMC 2.0%
LYV 0.9%
FY18
AMC 4.9%
LYV 2.5%
FY19
AMC 2.5%
LYV 2.8%
FY20
AMC −330.2%
LYV −88.8%
FY21
AMC −36.8%
LYV −6.7%
FY22
AMC −13.4%
LYV 4.3%
FY23
AMC −1.5%
LYV 4.8%
FY24
AMC −1.7%
LYV 3.6%
FY25
AMC −0.4%
LYV 5.0%
AMC
LYV
Free cash flow
FY16
AMC $10.0M
LYV $425M
FY17
AMC −$89.4M
LYV $385M
FY18
AMC −$53.1M
LYV $702M
FY19
AMC $60.9M
LYV $146M
FY20
AMC −$1.3B
LYV −$1.3B
FY21
AMC −$707M
LYV $1.6B
FY22
AMC −$831M
LYV $1.5B
FY23
AMC −$441M
LYV $924M
FY24
AMC −$296M
LYV $1.1B
FY25
AMC −$366M
LYV $334M
AMC
LYV
Return on capital
FY16
AMC 3.6%
LYV 4.5%
FY17
AMC 1.4%
LYV 3.6%
FY18
AMC 3.9%
LYV 10.2%
FY19
AMC 1.8%
LYV 10.2%
FY20
AMC −78.1%
LYV −57.5%
FY21
AMC −35.0%
LYV −22.8%
FY22
AMC −22.9%
LYV —
FY23
AMC −3.3%
LYV —
FY24
AMC −3.5%
LYV —
FY25
AMC −0.8%
LYV —
AMC
LYV
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.