FirmAtlas
Company handbook · LYV · Prepared by FirmAtlas · firmatlas.app · printed 2026-10-17
LYV · CIK 1335258 · LATEST FILING: 10-Q JUN '26 · FILED JUL 30, 2026
LIVE NATION ENTERTAINMENT, INC.
$170.51
−2.00 (−1.16%)
Close, Oct 16, 2026 · 52-week $125–189
Last fiscal year
LIVE NATION ENTERTAINMENT, INC. reported revenue of $25.2B for the year ended Dec 31, 2025 (FY25), up 8.8% from FY24. Net income was $496M, operating cash flow $1.4B and free cash flow $334M. Source: 10-K filed Feb 19, 2026.
Market cap
$40.1B
P/E
298.0
EV/EBITDA
21.5x
P/B
487.6
ROIC
164.4%
Revenue 1Y
8.8%/yr
EPS 1Y
n/m
Shares 1Y
+0.5%
Loading chart…
Median
Daily closes, split-adjusted · ratios at each fiscal year end
Company
CEOMichael Rapino
HQBeverly Hills, CA
AuditorErnst & Young LLP
Employees17,700
Year endsDecember
Revenue by segment · FY25
Concerts83%
Ticketing12%
Sponsorship And Advertising5%
Compounded growth & averages
10Y
5Y
3Y
TTM
Share price
20.1%
10.9%
25.8%
12.4%
Upgrade to see 10 years
Share price: yearly compound rate of the traded close; the last column is the past year.
Where the cash went · FY24–FY25
$1.9B deployed
Capex
$1.7B
89.4%
Acquisitions
$178M
9.3%
Buybacks
$24M
1.2%
Operating cash flow over the period: $3.1B. Total debt changed by +$1.4B.
Growth engines
How much of the profit growth came from new investment, and how much from running the business better.
Upgrade to see 10 years
Financials
Last 2 years · Upgrade to see 10 years · USD millions · each year opens its 10-K · change vs previous year
Last 4 quarters · USD millions · quarter-end month shown · change vs same quarter a year earlier
TTM = the last four quarters, to Jun '26. Balance-sheet rows show that latest quarter. “—” where the quarters do not add up to the annual figures. No TTM for cash: our quarterly rows do not hold short-term investments yet, and annual cash includes them.
Income
Revenue
23,156
25,201+8.8%
26,273
YoY
+8.8%
Operating income
825
1,251+51.8%
801
Operating margin
3.6%
5.0%+1.4 pp
—
EBITDA
1,374
1,890+37.5%
—
EBITDA margin
5.9%
7.5%+1.6 pp
—
Interest expense
326
316−3.0%
—
Interest coverage
4.22x
5.98x+1.76x
—
Net income
896
496−44.7%
135
YoY
−44.7%
Net margin
3.9%
2.0%−1.9 pp
—
EPS (diluted, $)
2.74
−0.24−108.8%
—
YoY
−108.8%
Balance sheet
Total assets
19,639
22,913+16.7%
28,181
Cash & short-term investments
6,106
7,107+16.4%
—
Accounts receivable
1,747
2,009+15.0%
—
Inventory
50
57+12.8%
—
Net PP&E
2,442
3,416+39.9%
—
Other assets
9,293
10,324+11.1%
—
Total liabilities
19,466
22,642+16.3%
28,098
Accounts payable
243
253+4.2%
—
Total debt
6,177
7,612+23.2%
6,233
Other liabilities
13,045
14,776+13.3%
—
Shareholders’ equity
173
271+56.4%
82
Total liabilities = total assets − shareholders’ equity, so it includes minority interest where a company has one.
Cash flow statement · as filed
Cash from operations
1,725
1,395−19.1%
2,609
Net income
1,131
691−38.9%
—
Depreciation & amortization
550
639+16.2%
—
Stock-based compensation
110
155+40.7%
—
Working capital & other
(66)
(90)n/m
—
Cash from investing
(854)
(1,226)n/m
—
Capex
(647)
(1,062)n/m
—
Acquisitions
(98)
(80)n/m
—
Other investing
(109)
(85)n/m
—
Cash from financing
(659)
407n/m
—
Debt raised
1,672
3,714+122.2%
—
Debt repaid
(1,960)
(2,049)n/m
—
Buybacks
0
(24)n/m
—
Shares issued
26
5−80.5%
—
Other financing
(397)
(1,240)n/m
—
Net change in cash
(133)
1,001n/m
—
Free cash flow (OCF − capex)
1,079
334−69.1%
1,383
Where the cash went
Operating cash flow
1,725
1,395−19.1%
2,609
Reinvested in the business
745
1,142+53.3%
—
% of operating cash flow
43.2%
81.8%
Capex
647
1,062+64.2%
1,226
Acquisitions
98
80−18.6%
—
Free cash flow
1,079
334−69.1%
1,383
YoY
−69.1%
Returned to shareholders
0
24n/m
—
% of free cash flow
0.0%
7.1%
Buybacks
0
24n/m
—
Change in total debt
—
1,435
—
Cash left over
—
1,665
—
FCF conversion (FCF ÷ net income)
120.3%
67.3%−53.1 pp
—
Owner earnings
—
(185)
—
Owner earnings margin
—
−0.7%
—
Returns & ratios
ROIC (all capital)
337.5%
164.4%−173.1 pp
—
ROIC (operating)
20.6%
18.2%−2.4 pp
—
Net debt / EBITDA
0.05x
0.27x+0.22x
—
Debt / equity
35.65x
28.09x−7.56x
—
ROE
517.3%
183.0%−334.3 pp
—
ROA
4.6%
2.2%−2.4 pp
—
ROCE
8.0%
10.5%+2.5 pp
—
NOPAT
825
839+1.7%
—
Invested capital (operating)
3,996
5,228+30.8%
—
Invested capital (all)
244
776+217.6%
—
Reinvestment rate
—
146.9%
—
Income
Sep '25
Dec '25
Mar '26
Jun '26
Revenue
8,499
6,314
3,793
7,667
vs year-ago quarter
Operating income
792
(143)
(371)
522
Net income
431
(202)
(389)
294
vs year-ago quarter
Net margin
5.1%
−3.2%
−10.3%
3.8%
EPS (diluted, $)
0.73
−0.86
−1.85
1.05
vs year-ago quarter
Balance sheet
Sep '25
Dec '25
Mar '26
Jun '26
Total assets
22,888
22,913
26,068
28,181
Cash & equivalents
6,763
7,107
9,091
9,172
Total debt
6,107
7,612
6,709
6,233
Shareholders’ equity
521
271
(139)
82
Cash flow
Sep '25
Dec '25
Mar '26
Jun '26
Operating cash flow
(96)
(54)
2,339
419
Capex
276
352
309
290
Free cash flow
(371)
(406)
2,030
130
vs year-ago quarter