LYV Communication Services

Live Nation Entertainment, Inc.

$178.87+0.97%

Price as of close on Nov 3, 2026 · Financials updated Oct 9, 2026

Basics

Sector: Communication Services
Industry: Entertainment
Country: United States
Market cap: 41.7B USD
Enterprise value: 40.3B USD
Full-time employees: 17,700

Overall health

Strength: more profitable than most peersmore profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.17 vs a peer median of 0.65), less short-term liquidity (current ratio 0.85 vs a peer median of 1.38) and more debt relative to equity (111.76× vs a peer median of 0.37×)higher risk: bigger price swings (beta 1.17 vs peers 0.65), less liquidity (current ratio 0.85 vs peers 1.38) and more debt vs equity (111.76× vs peers 0.37×)
About average: growth

Ranks #342 of 454 communication services companies (bottom 25%)

See how it ranks against its peers

Worth knowing

Profit growing, cash flow isn't. Profit +86% since 2022, operating cash flow −24%.
Live Nation Entertainment's reported profit rose 86% since 2022, but the cash its operations generate changed −24%. When profit and cash diverge like this, it's worth understanding why (for example, customers paying more slowly or gains that aren't cash).Live Nation Entertainment's reported profit rose 86% since 2022, but the cash its operations generate changed −24%. When profit and cash diverge like this, it's worth understanding why.
Stock pay outran buybacks. Stock-based pay expense $382M vs $24M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +1.9% from December 2022 to July 2026.
Over three fiscal years Live Nation Entertainment recorded $382M of stock-based pay expense and spent $24M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Live Nation Entertainment recorded $382M of stock-based pay expense and spent $24M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.
Much more borrowing than peers. Debt is 111.8× equity vs a peer median of 0.4×.Debt is 111.8× equity vs peers 0.4×.
Debt is 111.8× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 111.8× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.
Profits growing faster than sales. Since 2022: revenue +51%, operating profit +73%.
Since 2022, Live Nation Entertainment's revenue grew 51% while operating profit grew 73%: each extra dollar of sales is adding more profit.

StockQuotient Score

37/ 100

Oct 5 37 → Nov 4 37

Valuation

Is the price right?

23/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ FCF yield
▼ EBITDA yield
▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield0.3%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -0.89Sector median: 0.0294 · MAD: 0.0294

EBITDA yield3.5%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.77Sector median: 0.0857 · MAD: 0.0649

Free cash flow yield3.3%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score -0.69Sector median: 0.0740 · MAD: 0.0593

Other data (not scored)

Book yield0.2%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.4780 · MAD: 0.3375

Growth

Is it growing?

42/100

Moderate▲ 2 since Oct 27 close

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.6%

Why it changed since the Oct 27, 2026 close: Score 40 → 42

Peer companies moved+2

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Mixed versus peers:

▲ 3-yr revenue
▲ Revenue growth
▼ EPS growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growth-85.4%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.81Sector median: 0.0878 · MAD: 0.3126

3-year revenue growth11.0%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score 1.17Sector median: 0.0303 · MAD: 0.0683

Revenue growth10.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 1.08Sector median: 0.0299 · MAD: 0.0720

Profitability

Does it earn well?

81/100

Strong

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Stronger than most peers on:

▲ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin3.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.65Sector median: 0.0818 · MAD: 0.0789

Return on assets0.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.70Sector median: 0.0272 · MAD: 0.0318

Return on invested capital298.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 5.95Sector median: 0.0598 · MAD: 0.0706

Other data (not scored)

Gross margin25.8%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4656 · MAD: 0.1827

Return on equity163.6%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.0529 · MAD: 0.1007

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Beta
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.17

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.80Sector median: 0.6525 · MAD: 0.2880

Current ratio0.85×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.77Sector median: 1.3848 · MAD: 0.6948

Debt / equity111.76×

SEC filings · latest balance sheetOutlier capped at sector 5th/95th percentile33% base weight · Z-score -13.85Sector median: 0.3697 · MAD: 0.3335

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Live Nation Entertainment

Is Live Nation Entertainment getting weaker?: Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is unchanged at 37/100 since Oct 28, 2026.
How is Live Nation Entertainment valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 512 communication services peers. Free cash flow yield 3.3% vs a peer median of 7.4% (weaker than 74% of peers).Free cash flow yield 3.3% vs peers 7.4% (weaker than 74% of peers).
Is Live Nation Entertainment growing?: At about the same pace as its peers. Growth scores 42/100 against 512 communication services peers. 3-year revenue growth 11.0% vs a peer median of 3.0% (stronger than 76% of peers).3-year revenue growth 11.0% vs peers 3.0% (stronger than 76% of peers). Earnings per share growth -85.4% vs a peer median of 8.8% (weaker than 100% of peers).Earnings per share growth -85.4% vs peers 8.8% (weaker than 100% of peers).
How profitable is Live Nation Entertainment?: More profitable than most of its peers. Profitability scores 81/100 against 512 communication services peers. Return on invested capital 298.8% vs a peer median of 6.0% (stronger than 95% of peers).Return on invested capital 298.8% vs peers 6.0% (stronger than 95% of peers). Return on assets 0.5% vs a peer median of 2.7% (weaker than 70% of peers).Return on assets 0.5% vs peers 2.7% (weaker than 70% of peers).
How risky is Live Nation Entertainment?: Higher risk relative to 512 communication services peers, judged on debt, liquidity and share-price swings. Debt / equity 111.76× vs a peer median of 0.37× (weaker than 100% of peers).Debt / equity 111.76× vs peers 0.37× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Jul 30, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	25.6B USD	26.3B USD	+2.6%
Net income (12 months)	83.7M USD	134.7M USD	+61.0%
Operating margin	3.0%	3.0%	+0.1 pts
Free cash flow (12 months)	1.2B USD	1.4B USD	+14.0%
Debt	8.5B USD	9.2B USD	+8.1%
Cash	9.1B USD	9.1B USD	−0.1%
Shares outstanding	235.5M	235.6M	+0.0%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Sector: Communication Services · 67 companies

Valuations in Communication Services are within their usual range since 2016.

46% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +13% and earnings +11% (medians): earnings grew faster than prices.
Median price-to-sales is −6% vs the whole market, against a usual −7%.

2016Shaded: most expensive fifth of its range2026

Shown for Communication Services: too few Entertainment companies have a long enough history of their own.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	-6.7%	4.3%	4.8%	3.6%	5.0%	▲ 1.4 pts
Net margin	-10.4%	1.6%	2.5%	3.9%	2.0%	▼ 1.9 pts
Return on assets (ROA)	-4.5%	1.6%	2.9%	4.6%	2.2%	▼ 2.4 pts
Free cash flow margin	26.0%	8.9%	4.1%	4.7%	1.3%	▼ 3.3 pts
Current ratio	0.97×	0.98×	0.95×	0.99×	1.00×	▲ 0.2%
Quick ratio	0.97×	0.98×	0.95×	0.99×	0.99×	▲ 0.3%
Interest coverage	-1.48×	2.59×	3.10×	2.53×	3.96×	▲ 57%

LYV price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Strength: more profitable than most peersmore profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.17 vs a peer median of 0.65), less short-term liquidity (current ratio 0.85 vs a peer median of 1.38) and more debt relative to equity (111.76× vs a peer median of 0.37×)higher risk: bigger price swings (beta 1.17 vs peers 0.65), less liquidity (current ratio 0.85 vs peers 1.38) and more debt vs equity (111.76× vs peers 0.37×)

About average: growth

Ranks #342 of 454 communication services companies (bottom 25%)

See how it ranks against its peers

Worth knowing

Profit growing, cash flow isn't. Profit +86% since 2022, operating cash flow −24%.

Live Nation Entertainment's reported profit rose 86% since 2022, but the cash its operations generate changed −24%. When profit and cash diverge like this, it's worth understanding why (for example, customers paying more slowly or gains that aren't cash).Live Nation Entertainment's reported profit rose 86% since 2022, but the cash its operations generate changed −24%. When profit and cash diverge like this, it's worth understanding why.

Stock pay outran buybacks. Stock-based pay expense $382M vs $24M spent repurchasing shares over the 3 fiscal years to 2025. Shares outstanding changed +1.9% from December 2022 to July 2026.

Over three fiscal years Live Nation Entertainment recorded $382M of stock-based pay expense and spent $24M repurchasing shares (repurchases can include shares withheld to cover employees' taxes). Repurchases were smaller than the stock pay, so they did little to offset new employee shares.Over three fiscal years Live Nation Entertainment recorded $382M of stock-based pay expense and spent $24M repurchasing shares. Repurchases were smaller than the stock pay, so they did little to offset new employee shares.

Much more borrowing than peers. Debt is 111.8× equity vs a peer median of 0.4×.Debt is 111.8× equity vs peers 0.4×.

Debt is 111.8× shareholders' equity, against a peer median of 0.4×, among the highest 10% of its peer group.Debt is 111.8× shareholders' equity, vs peers 0.4×, among the highest 10% of its peer group.

Profits growing faster than sales. Since 2022: revenue +51%, operating profit +73%.

Since 2022, Live Nation Entertainment's revenue grew 51% while operating profit grew 73%: each extra dollar of sales is adding more profit.

Questions investors ask about Live Nation Entertainment

Is Live Nation Entertainment getting weaker?

Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is unchanged at 37/100 since Oct 28, 2026.

How is Live Nation Entertainment valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 23/100 against 512 communication services peers. Free cash flow yield 3.3% vs a peer median of 7.4% (weaker than 74% of peers).Free cash flow yield 3.3% vs peers 7.4% (weaker than 74% of peers).

Is Live Nation Entertainment growing?

At about the same pace as its peers. Growth scores 42/100 against 512 communication services peers. 3-year revenue growth 11.0% vs a peer median of 3.0% (stronger than 76% of peers).3-year revenue growth 11.0% vs peers 3.0% (stronger than 76% of peers). Earnings per share growth -85.4% vs a peer median of 8.8% (weaker than 100% of peers).Earnings per share growth -85.4% vs peers 8.8% (weaker than 100% of peers).

How profitable is Live Nation Entertainment?

More profitable than most of its peers. Profitability scores 81/100 against 512 communication services peers. Return on invested capital 298.8% vs a peer median of 6.0% (stronger than 95% of peers).Return on invested capital 298.8% vs peers 6.0% (stronger than 95% of peers). Return on assets 0.5% vs a peer median of 2.7% (weaker than 70% of peers).Return on assets 0.5% vs peers 2.7% (weaker than 70% of peers).

How risky is Live Nation Entertainment?

Higher risk relative to 512 communication services peers, judged on debt, liquidity and share-price swings. Debt / equity 111.76× vs a peer median of 0.37× (weaker than 100% of peers).Debt / equity 111.76× vs peers 0.37× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

25.6B USD

26.3B USD

+2.6%

Net income (12 months)

83.7M USD

134.7M USD

+61.0%

Operating margin

3.0%

3.0%

+0.1 pts

Free cash flow (12 months)

1.2B USD

1.4B USD

+14.0%

Debt

8.5B USD

9.2B USD

+8.1%

Cash

9.1B USD

9.1B USD

−0.1%

Shares outstanding

235.5M

235.6M

+0.0%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-6.7%

4.3%

4.8%

3.6%

5.0%

▲ 1.4 pts

Net margin

-10.4%

1.6%

2.5%

3.9%

2.0%

▼ 1.9 pts

Return on assets (ROA)

-4.5%

1.6%

2.9%

4.6%

2.2%

▼ 2.4 pts

Free cash flow margin

26.0%

8.9%

4.1%

4.7%

1.3%

▼ 3.3 pts

Current ratio

0.97×

0.98×

0.95×

0.99×

1.00×

▲ 0.2%

Quick ratio

0.97×

0.98×

0.95×

0.99×

▲ 0.3%

Interest coverage

-1.48×

2.59×

3.10×

2.53×

3.96×

▲ 57%