Live Nation Entertainment, Inc. (LYV)
Communication Services · Movies & Entertainment · US stock · S&P 500 component
$173.44
▼ -1.06 (0.61%)
Fair valueFair
$153 −12.3% to fair value
$76fair band $130–$185$229
Day's range
$172.54 – $175.86
52-week range
$125.34 – $189.25
About Live Nation Entertainment, Inc.
Live Nation Entertainment promotes live music and runs much of the infrastructure around it. The business is organised around concerts, ticketing, and sponsorship and advertising. Its concerts arm promotes tours and festivals and operates venues, Ticketmaster distributes tickets for events, and the sponsorship unit places brand partnerships. Its customers include fans, artists, venue owners and corporate sponsors.
Money comes from ticket sales and service fees, concert and festival revenue, venue income and sponsorships. Revenue is $26.3 billion over the last twelve months, growing at 14.7% a year across the last three years, while the operating margin is 3.0%. The company carries net debt of 0.1 times EBITDA, and the business earns a profit of 265% on the capital invested in it. No dividend is paid. On the site's X-Ray Score it receives 41 out of 100.
Price chart
52-wk range $125.34 – $189.25Volume 1,648,769Daily, split-adjusted
Vitals
Market cap$42.3B
52-week range$125.34 – $189.25
Volume (last day)1,648,769
P/E (TTM)303.6
EBIT / EV yield1.8%
Free-cash-flow yield3.2%
Dividend yieldNo dividend
Revenue (TTM)$26.3B
Net income (TTM)$135M
Operating margin3.0%
Return on capital264.7%
Debt incl. leases$9.2B
Cash & securities$9.1B
Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.
Fair value estimate
$153middle half of models $142 – $177
Fair
−12.3% to fair value
Average of the 10 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is Medium, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.
Price $173
Undervalued < $130Fair $130 – $185Overvalued > $185
P/E multiple
$152
P/B multiple
$90
P/S multiple
$181
EV/EBITDA multiple
$140
EV/EBIT multiple
$119
EV/revenue multiple
$192
10-year DCF, EBITDA exit
$147
5-year DCF, EBITDA exit
$167
10-year DCF, revenue exit
$160
5-year DCF, revenue exit
$181
10-year DCF, growth exit · not used
$40
5-year DCF, growth exit · not used
$45
Earnings power value · not used
$66
Growth the price implies
31.0%/yr
A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.
What this means
Average business, fairly priced
The price sits inside our fair-value band. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.
Before you invest · decision checklist
Ticked boxes are filled in from our data; the rest are yours to answer.
The five-lens scan
Every score explained in one sentence, ranked against Communication Services peers. Open a lens to see the numbers behind it.
Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data
Valuation
Weak
23/100
Expensive against its sector on earnings and cash flow.
See the numbers →
EBIT / EV yield1.8%
Free-cash-flow yield3.2%
Fair value vs price0.9×
Growth
Weak
40/100
Growing slower than most of its sector.
See the numbers →
Revenue growth (3y)14.7%
Growth consistency70%
Profitability
Fair
65/100
Returns on capital are typical for its sector.
See the numbers →
Return on invested capital264.7%
Operating margin3.0%
Financial health
Weak
36/100
Balance sheet is more stretched than most peers.
See the numbers →
Piotroski F-Score6 / 9
Net debt / EBITDA0.1×
Interest cover2.3×
Dividends
None
–/100
Pays no dividend.
See the numbers →
Quarterly results: last 6 quarters
-11.0%
Mar '25
+16.3%
Jun '25
+11.1%
Sep '25
+11.1%
Dec '25
+12.1%
Mar '26
+9.4%
Jun '26
Revenue against the same quarter a year earlier. Latest quarter revenue $7.7B, diluted EPS $1.05.
Compare with peers
NFLX Netflix Inc58 DIS Walt Disney Co56 TKO TKO Group Holdings, In...52Other Movies & Entertainment companies by X-Ray Score.
SWOT analysis: Live Nation Entertainment, Inc.
Strengthsinside the company
- Return on invested capital is 264.7%, against a median of 11.8% for industry peers.
- Revenue has grown 14.7% a year over three years (median 12.6% for industry peers).
- Net debt is only 0.1x EBITDA.
Weaknessesinside the company
- Operating margin of 3.0% is thin against 18.8% for industry peers.
- Operating profit covers interest only 2.3x.
Opportunitiesvaluation and setting
- Our Market Compass rates the backdrop for Communication Services as favourable.
- Price momentum is strong on the weekly and monthly signals (trends can reverse).
Threatsvaluation and setting
- Revenue growth slowed to 8.8% last year from 14.7% a year over three years.
- Trades at 316.1x earnings, 1,279% above the 22.9x median of industry peers, so the price already assumes better results.
Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.
Compare LYV with peers and sector
Medians of 3 Movies & Entertainment peers and of 17 Communication Services stocks in our universe.
Largest peers (X-Ray Score): NFLX 58, DIS 56, TKO 52.
| Metric | LYV | Peers | Sector |
|---|---|---|---|
| X-Ray Score (out of 100) | 41 | 56 | 52 |
| Valuation | 23 | 65 | 54 |
| Growth | 40 | 55 | 55 |
| Profitability | 65 | 54 | 52 |
| Financial health | 36 | 64 | 52 |
| Dividends | – | – | 47 |
Sector leaders: highest X-Ray Score in Communication Services
LYV ranks #15 of 18 in Communication Services and #4 of 4 in Movies & Entertainment by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.
Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.
Factor ratings for LYV
Each factor is rated by where LYV stands among the 18 Communication Services stocks in our universe.
Rating against the sector
Goodthe top third of these stocks
Averagethe middle third of these stocks
Badthe bottom third of these stocks
"Beats" is the share of those stocks it is ahead of.
Against its own history
The last columns set today's figure against the company's own median of its last five financial years:
▲ Betterbetter than its usual level
▼ Worseworse than its usual level
≈ In linewithin its usual range
For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.
In total: 7 Good · 4 Average · 9 Bad of 20
Growth: 1 · 1 · 0
Profitability: 2 · 0 · 2
Financial strength: 1 · 1 · 2
Valuation: 1 · 1 · 3
Cash flow: 2 · 0 · 2
Efficiency: 0 · 1 · 0
| Factor | LYV | Rating | Sector median | Own 5-year median | Against own history |
|---|---|---|---|---|---|
| Growth | |||||
| Revenue growth, 3 years a year | +14.7% | Good beats 75% | +5.6% | – | – |
| Revenue growth, last year | +8.8% | Average beats 58% | +7.7% | +36.2% | ▼ Worse |
| Profitability | |||||
| Operating margin | 3.0% | Bad beats 14% | 19.3% | 4.3% | ▼ Worse |
| Net margin | 0.5% | Bad beats 14% | 10.6% | 2.0% | ▼ Worse |
| Return on invested capital | 264.7% | Good beats 97% | 10.4% | – | – |
| Return on equity | 163.6% | Good beats 97% | 17.9% | – | – |
| Financial strength | |||||
| Net debt / EBITDA | 0.1x | Good beats 78% | 1.4x | 0.3x | ≈ In line |
| Interest cover | 2.3x | Bad beats 16% | 11.8x | 2.6x | ≈ In line |
| Current ratio | 0.85 | Bad beats 25% | 1.10 | 0.98 | ▼ Worse |
| Piotroski F-score | 6 / 9 | Average beats 44% | 6 / 9 | – | – |
| Valuation | |||||
| P/E ratio | 316.1x | Bad beats 9% | 20.8x | 49.7x | ▼ Worse |
| Price / book | 517.2x | Bad beats 3% | 2.8x | – | – |
| Price / sales | 1.6x | Good beats 69% | 2.0x | 1.3x | ▼ Worse |
| EV / EBITDA | 29.1x | Bad beats 21% | 13.4x | 16.0x | ▼ Worse |
| Free cash flow yield | 3.2% | Average beats 35% | 3.9% | 4.3% | ▼ Worse |
| Cash flow | |||||
| Free cash flow margin | 5.3% | Bad beats 16% | 15.7% | 4.7% | ≈ In line |
| Cash from operations / net income | 19.37 | Good beats 90% | 1.98 | 2.63 | ▲ Better |
| Free cash flow growth, 3 years a year | −39.2% | Bad beats 1% | +11.7% | – | – |
| Accruals (lower is better) | −8.8% | Good beats 78% | −5.8% | – | – |
| Efficiency | |||||
| Days sales outstanding | 40 days | Average beats 59% | 47 days | 32 days | ▼ Worse |
These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.
Fundamentals checklist
● 4 Good · ● 2 Average · ● 8 BadCash quality
Earnings backed by cashGood
Free-cash-flow yieldAverage
Risk models
Altman Z''Bad
Piotroski F-ScoreAverage
Growth
Free-cash-flow growth (3y)Bad
Revenue growth (3y)Good
Growth consistencyBad
Balance sheet
Current ratioBad
Net debt / EBITDAGood
Interest coverBad
Valuation
Fair value vs priceBad
EBIT / EV yieldBad
Profitability
Return on invested capitalGood
Operating marginBad
Each check is graded against the company's sector, not a fixed number. Checklist score 40/100.
Financials
| FY21 | FY22 | FY23 | FY24 | FY25 | |
|---|---|---|---|---|---|
| Revenue | $6.3B | $16.7B | $22.7B | $23.2B | $25.2B |
| Operating income | −$418M | $722M | $1.1B | $825M | $1.3B |
| Net income | −$651M | $266M | $557M | $896M | $496M |
| Operating cash flow | $1.8B | $1.8B | $1.4B | $1.7B | $1.4B |
| Operating margin | -6.7% | 4.3% | 4.8% | 3.6% | 5.0% |
| Free cash flow | $1.6B | $1.5B | $924M | $1.1B | $334M |
| Diluted EPS | $-3.09 | $0.52 | $1.34 | $2.74 | $-0.24 |
Fiscal years, from SEC filings.
Technical summary
Daily
Bullish
10 bullish · 3 neutral · 3 bearish
Weekly
Strongly bullish
9 bullish · 1 neutral · 2 bearish
Monthly
Strongly bullish
7 bullish · 1 neutral · 0 bearish
Moving averages (daily)
| SMA 10 | 172.1 | Bullish |
| EMA 10 | 172.6 | Bullish |
| SMA 20 | 171.2 | Bullish |
| EMA 20 | 172.0 | Bullish |
| SMA 50 | 174.1 | Bearish |
| EMA 50 | 173.1 | Bullish |
| SMA 100 | 175.8 | Bearish |
| EMA 100 | 172.4 | Bullish |
| SMA 200 | 166.0 | Bullish |
| EMA 200 | 166.9 | Bullish |
Oscillators (daily)
| RSI (14) | 53.16 | Neutral |
| MACD (12, 26) | 0.21 | Bullish |
| Momentum (12) | 1.52 | Bullish |
| Stochastic %K (14) | 63.12 | Neutral |
| Williams %R (14) | -36.88 | Neutral |
| CCI (20) | 120.1 | Bearish |
Pivot points (classic, last session)
S3 168.7 | S2 170.6 | S1 172.0 | Pivot 173.9 | R1 175.4 | R2 177.3 | R3 178.7 |
Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.
ETFs that hold LYV
| ETF | Share of the fund |
|---|---|
| XLC Communication Services Select Sector S... | 3.49% |
| FCOM Fidelity MSCI Communication Services I... | 1.67% |
| VOX Vanguard Communication Services | 1.64% |
| IWP iShares Russell Mid-Cap Growth | 0.80% |
| CGMM Capital Group U.S. Small and Mid Cap | 0.69% |
| VOT Vanguard Mid-Cap Growth | 0.58% |
| CGGR Capital Group Growth | 0.57% |
| FTLS First Trust Long/Short Equity | 0.54% |
The eight funds with the largest weight in LYV among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.
LYV SEC filings
8-KSEC EDGAR
Entered a material agreement
8-KSEC EDGAR
Other events
8-KSEC EDGAR
Director or officer change
8-KSEC EDGAR
Director or officer change; Other events
10-QSEC EDGAR
Quarterly report
8-KSEC EDGAR
Results of operations
8-KSEC EDGAR
Shareholder vote results
8-KSEC EDGAR
Entered a material agreement
Where the numbers come from
Statements SEC EDGAR filings (10-K, 10-Q), quarters derived from year-to-date figures.
Prices end-of-day closes, split-adjusted.
Industry inputs beta, multiples and equity risk premium from Damodaran Online (NYU Stern).
StocksXray is for education only and is not financial advice. Scores and fair values are model estimates from public filings and carry uncertainty.