Live Nation Entertainment, Inc. LYV
We believe that we are the largest live entertainment company in the world, connecting over 805 million fans across all of our concerts and ticketing platforms in 55 countries during 2025.
We believe we are the largest producer of live music concerts in the world, based on total fans that attend Live Nation events as compared to events of other promoters, connecting 159 million fans to over 11,000 artists at 55,000 events in 2025. Live Nation owns, operates, has exclusive booking rights for or has an equity interest in 460 venues globally, including House of Blues® music venues and prestigious locations such as The Fillmore® in San Francisco, Brooklyn Bowl® in New York City, the Hollywood Palladium in Los Angeles, the Moody Center© arena in Austin, the Ziggo Dome in Amsterdam, 3Arena in Dublin, Royal Arena in Copenhagen and Spark Arena in Auckland. We believe we are one of the world's leading artist management companies based on the number of artists represented. Our artist management companies manage music artists and acts across all music genres.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $25.20B | $23.16B | $22.73B | $16.68B | $6.27B | $1.86B | $11.55B | $10.79B | $9.69B | $7.83B |
| SG&A | $4.09B | $4.04B | $3.52B | $2.96B | $1.75B | $1.52B | $2.15B | $2.00B | $1.91B | $1.55B |
| Operating income | $1.25B | $824.5M | $1.08B | $722.0M | -$417.9M | -$1.65B | $324.8M | $272.5M | $91.4M | $194.9M |
| Interest expense | $316.0M | $326.0M | $350.2M | $278.5M | $282.4M | $226.8M | $157.5M | $141.0M | $107.8M | $106.5M |
| Pre-tax income | $1.03B | $739.4M | $913.3M | $490.5M | -$611.3M | -$1.86B | $185.1M | $131.1M | -$9.4M | $48.3M |
| Income tax | $339.8M | $391.7M | $209.5M | $115.9M | $2.5M | $28.9M | $66.9M | $40.8M | $17.2M | $28.0M |
| Net income | $496.0M | $896.3M | $556.9M | $266.4M | -$650.9M | -$1.72B | $69.9M | $60.2M | -$6.0M | $2.9M |
| EPS, basic | -0.24 | 2.77 | 1.35 | 0.53 | -3.09 | -8.12 | — | — | — | — |
| EPS, diluted | -0.24 | 2.74 | 1.34 | 0.52 | -3.09 | -8.12 | -0.02 | -0.09 | -0.48 | -0.23 |
| Shares, diluted (wtd. avg.) | $231.8M | $236.4M | $231.0M | $231.6M | $217.2M | $212.3M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $7.09B | $6.10B | $6.24B | $5.62B | $4.89B | $2.55B | $2.47B | $2.38B | $1.83B | $1.53B |
| Receivables | $2.01B | $1.75B | $2.02B | $1.47B | $1.07B | $486.7M | $994.6M | $829.3M | $725.3M | $568.9M |
| Inventory | $56.6M | $50.1M | $45.1M | $38.7M | $33.8M | $22.0M | $16.1M | $12.6M | $17.5M | $15.1M |
| Total current assets | $10.97B | $9.29B | $9.53B | $8.16B | $6.68B | $3.65B | $4.19B | $3.85B | $3.15B | $2.67B |
| Property, plant and equipment | $3.42B | $2.44B | $2.10B | $1.49B | $1.09B | $1.10B | $1.12B | $946.6M | $885.9M | $751.5M |
| Goodwill | $2.89B | $2.62B | $2.69B | $2.53B | $2.59B | $2.13B | $2.00B | $1.82B | $1.75B | $1.75B |
| Other intangibles | $1.08B | $985.8M | $1.16B | $1.05B | $1.03B | $855.6M | $870.1M | $661.5M | $729.3M | $812.0M |
| Total assets | $22.91B | $19.64B | $19.03B | $16.46B | $14.40B | $10.59B | $10.98B | $8.50B | $7.50B | $6.76B |
| Accounts payable | $253.3M | $243.0M | $267.5M | $180.1M | $110.6M | $86.4M | $100.2M | $90.3M | $85.7M | $55.0M |
| Total current liabilities | $11.03B | $9.36B | $9.98B | $8.30B | $6.86B | $3.80B | $4.11B | $3.75B | $3.58B | $2.46B |
| Retained earnings | -$1.04B | -$1.55B | -$2.44B | -$2.97B | -$3.33B | -$2.68B | -$949.3M | -$1.02B | -$1.08B | -$1.07B |
| Total equity | $271.0M | $173.3M | $552.0M | $65.0M | -$192.5M | -$133.8M | $1.46B | $1.34B | $1.42B | $1.35B |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.40B | $1.73B | $1.36B | $1.84B | $1.78B | -$1.08B | $469.8M | $941.6M | $623.5M | $598.7M |
| Depreciation and amortisation | $374.3M | $300.0M | $266.6M | $225.8M | $222.8M | $245.7M | $220.5M | $185.4M | $149.6M | $139.3M |
| Stock-based compensation | $155.2M | $110.3M | $116.0M | $110.0M | $209.3M | $116.9M | $48.8M | $45.6M | $42.8M | $32.7M |
| Capital expenditure | $1.06B | $646.6M | $438.6M | $347.2M | $152.7M | $213.7M | $323.6M | $239.8M | $238.4M | $173.8M |
| Investing cash flow | -$1.23B | -$854.3M | -$695.8M | -$784.7M | -$567.0M | -$224.1M | -$691.0M | -$496.9M | -$327.6M | -$426.5M |
| Financing cash flow | $406.5M | -$658.5M | -$87.3M | -$143.3M | $1.17B | $1.35B | $328.9M | $188.8M | -$127.1M | $99.2M |
| Buybacks | $23.5M | $0 | $0 | — | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-174146.
Others in SIC 7900
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| TKO | TKO Group Holdings, Inc. | $13.91B | 82.3x | -3.1% |
| LLYVA | Liberty Live Holdings, Inc. | $8.80B | — | 12.2% |
| SPHR | Sphere Entertainment Co. | $5.15B | 192.5x | 19.0% |
| BATRA | Atlanta Braves Holdings, Inc. | $3.58B | — | 10.5% |
| FUN | Six Flags Entertainment Corporation/NEW | $1.59B | — | 14.4% |
| ACEL | Accel Entertainment, Inc. | $964.6M | 19.8x | 8.1% |
| LUCK | Lucky Strike Entertainment Corp | $859.4M | — | 3.7% |
| RSVR | Reservoir Media, Inc. | $642.2M | 74.9x | 10.7% |