NYSE: LYV
Live Nation Entertainment
Communication Services · Services-Amusement & Recreation Services
52-week range
$125.34$189.25
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$43.1B
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| Period | Market cap |
|---|---|
| FY2016, ended Dec 31, 2016 | $5.45B |
| FY2017, ended Dec 31, 2017 | $8.86B |
| FY2018, ended Dec 31, 2018 | $10.4B |
| FY2019, ended Dec 31, 2019 | $15.3B |
| FY2020, ended Dec 31, 2020 | $16.0B |
| FY2021, ended Dec 31, 2021 | $26.9B |
| FY2022, ended Dec 31, 2022 | $16.2B |
| FY2023, ended Dec 31, 2023 | $21.6B |
| FY2024, ended Dec 31, 2024 | $30.2B |
| FY2025, ended Dec 31, 2025 | $33.5B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $43.1B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$26.3B
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| Period | Revenue |
|---|---|
| FY2016, ended Dec 31, 2016 | $7.83B |
| FY2017, ended Dec 31, 2017 | $9.69B |
| FY2018, ended Dec 31, 2018 | $10.8B |
| FY2019, ended Dec 31, 2019 | $11.5B |
| FY2020, ended Dec 31, 2020 | $1.86B |
| FY2021, ended Dec 31, 2021 | $6.27B |
| FY2022, ended Dec 31, 2022 | $16.7B |
| FY2023, ended Dec 31, 2023 | $22.7B |
| FY2024, ended Dec 31, 2024 | $23.2B |
| FY2025, ended Dec 31, 2025 | $25.2B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $26.3B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2016, ended Dec 31, 2016 | $2.94M | $425M |
| FY2017, ended Dec 31, 2017 | −$6.01M | $385M |
| FY2018, ended Dec 31, 2018 | $60.2M | $702M |
| FY2019, ended Dec 31, 2019 | $69.9M | $146M |
| FY2020, ended Dec 31, 2020 | −$1.72B | −$1.30B |
| FY2021, ended Dec 31, 2021 | −$651M | $1.63B |
| FY2022, ended Dec 31, 2022 | $266M | $1.49B |
| FY2023, ended Dec 31, 2023 | $557M | $924M |
| FY2024, ended Dec 31, 2024 | $896M | $1.08B |
| FY2025, ended Dec 31, 2025 | $496M | $334M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $135M | $1.38B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$9.07B
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| Period | Cash and cash equivalents |
|---|---|
| FY2016, ended Dec 31, 2016 | $1.53B |
| FY2017, ended Dec 31, 2017 | $1.83B |
| FY2018, ended Dec 31, 2018 | $2.37B |
| FY2019, ended Dec 31, 2019 | $2.47B |
| FY2020, ended Dec 31, 2020 | $2.54B |
| FY2021, ended Dec 31, 2021 | $4.88B |
| FY2022, ended Dec 31, 2022 | $5.61B |
| FY2023, ended Dec 31, 2023 | $6.23B |
| FY2024, ended Dec 31, 2024 | $6.10B |
| FY2025, ended Dec 31, 2025 | $7.09B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $9.07B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.$9.20B
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| Period | Total debt |
|---|---|
| FY2016, ended Dec 31, 2016 | $2.31B |
| FY2017, ended Dec 31, 2017 | $2.30B |
| FY2018, ended Dec 31, 2018 | $2.82B |
| FY2019, ended Dec 31, 2019 | $3.31B |
| FY2020, ended Dec 31, 2020 | $4.91B |
| FY2021, ended Dec 31, 2021 | $5.73B |
| FY2022, ended Dec 31, 2022 | $5.90B |
| FY2023, ended Dec 31, 2023 | $6.59B |
| FY2024, ended Dec 31, 2024 | $6.44B |
| FY2025, ended Dec 31, 2025 | $8.20B |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | $9.20B |
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 15.1% since 2016.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.236M
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| Period | Shares outstanding |
|---|---|
| FY2016, ended Dec 31, 2016 | 205M |
| FY2017, ended Dec 31, 2017 | 208M |
| FY2018, ended Dec 31, 2018 | 211M |
| FY2019, ended Dec 31, 2019 | 215M |
| FY2020, ended Dec 31, 2020 | 218M |
| FY2021, ended Dec 31, 2021 | 225M |
| FY2022, ended Dec 31, 2022 | 232M |
| FY2023, ended Dec 31, 2023 | 231M |
| FY2024, ended Dec 31, 2024 | 233M |
| FY2025, ended Dec 31, 2025 | 235M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | 236M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Jun 30, 2026. Hover or tap a column for another year.Net: $164M more issued than bought back
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| Period | Bought back | Paid to employees |
|---|---|---|
| FY2016, ended Dec 31, 2016 | — | $32.7M |
| FY2017, ended Dec 31, 2017 | — | $42.8M |
| FY2018, ended Dec 31, 2018 | — | $45.6M |
| FY2019, ended Dec 31, 2019 | — | $48.8M |
| FY2020, ended Dec 31, 2020 | — | $117M |
| FY2021, ended Dec 31, 2021 | — | $209M |
| FY2022, ended Dec 31, 2022 | — | $110M |
| FY2023, ended Dec 31, 2023 | $0 | $116M |
| FY2024, ended Dec 31, 2024 | $0 | $110M |
| FY2025, ended Dec 31, 2025 | $23.5M | $155M |
| Trailing 12 months to Jun 30, 2026 (through Q2 FY2026) | — | $164M |
Revenue (TTM)
$26.3B
+10.8% YoY
Net income (TTM)
$135M
−85.3% YoY
Cash
$9.07B
+28.6% YoY
Total debt
$9.20B
+42.1% YoY
Valuation
At current price- Market Cap
- $41.9B
- P/E
- 311×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 1.6×
- Price / Book
- 509×
- EV / EBITDA
- 28.2×
Growth
Trailing 12 months- Revenue (TTM)
- $26.3B
- Revenue Growth YoY
- 10.8%
- Revenue CAGR 3Y
- 14.7%
- Revenue CAGR 5Y
- 68.4%
- EPS Growth YoY
- −147%
- Net Income Growth YoY
- −85.3%
Profitability
Trailing 12 months- Gross Margin
- —
- Operating Margin
- 3.0%
- Net Margin
- 0.5%
- FCF Margin
- 5.3%
- Return on Equity
- 60.9%
Earnings
Trailing 12 months- Net Income
- $135M
- EPS (diluted)
- −$1.11
- EBITDA
- $1.49B
- Operating Income
- $801M
Balance Sheet
As of Jun 30, 2026- Cash and cash equivalents
- $9.07B
- Total Debt
- $9.20B
- Net Debt
- $130M
- Total Assets
- $28.2B
- Total Liabilities
- $27.4B
- Shareholders' Equity
- $82.3M
Cash Flow
Trailing 12 months- Operating Cash Flow
- $2.61B
- Capital Expenditure
- $1.23B
- Free Cash Flow
- $1.38B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 1.17
Every ratio is calculated from the company’s reported figures.
Strength
Revenue is up 10.8% year over year, at $26.3B.
Note
Net margin of 0.5% over the last 12 months.
Note
Net debt of $130M is 0.1× EBITDA, a manageable load.
Note
Free cash flow of $1.38B, 5.3% of revenue.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-K for the fiscal year ended Dec 31, 2025 · filed Feb 19, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2024 · 10-K48Some concerns
48Some concerns
10-K for the fiscal year ended Dec 31, 2024
Filed Feb 21, 2025 · Read the filing on EDGAR
- Revenue edged up 2% to a record $23.2 billion, but operating income fell 24% to $825 million after a $455 million charge for Astroworld lawsuit losses.
- Net income rose to $1.13 billion, mainly because of a one-time tax benefit of about $600 million, not from day-to-day operations.
- In May 2024 the US Justice Department and several states sued the company over antitrust. They are seeking remedies that include forcing it to sell Ticketmaster.
- Concerts profit before one-off items grew 65% and a record 151 million fans attended shows, but Ticketmaster's results were flat.
Business momentum
Mixed
“Operating income for the year declined by $260 million or 24% primarily related to the Astroworld estimated loss contingencies of $455 million partially offset by stronger performance in our Concerts and Sponsorship segments.”
Outlook
Positive
“This, coupled with current ticket sales for 2025, suggests ongoing strong demand for concerts, making us confident in our continued success in the year ahead.”
Financial stress
Low
“Our balance sheet reflects cash and cash equivalents of $6.1 billion at December 31, 2024 and $6.2 billion at December 31, 2023.”
Tone against the previous report
About the same
Red flags
- Medium
Major lawsuit
“In May 2024, we were sued by state and federal authorities for alleged violations of various laws pertaining to antitrust, competition, unlawful or unfair business practices, restraint of trade, and other causes of action”
- Medium
Major lawsuit
“Operating income decreased $260.4 million during the year ended December 31, 2024 as compared to the prior year primarily driven by decreased operating income in our Concerts segment of $313.2 million, which included Astroworld estimated loss contingencies of $454.9 million”
- Minor
Restated accounts
“For the years ended December 31, 2023 and December 31, 2022, the revision increased our operating income and consolidated AOI by $18.7 million for 2023 and decreased our operating income and consolidated AOI by $10.1 million for 2022, respectively.”
Positives
Record attendance and much higher concert profits
“Concerts AOI for the year increased by $209 million, or 65%, compared to 2023, from $320 million to $530 million.”
Strong advance ticket sales for 2025
“Our event-related deferred revenue balance increased by $336 million, or 11%, to $3.3 billion as of December 31, 2024 compared to December 31, 2023.”
Cash from operations recovered
“Cash provided by operating activities increased $362.2 million for the year ended December 31, 2024 as compared to the prior year”
Concerns
Astroworld settlements cost more than insurance covered
“We incurred losses in excess of our insurance recovery in connection with those settlements.”
Ticketing sales stalled
“GTV for the year was $34.7 billion, down $1 billion, or 3% compared to 2023.”
Profit boosted by a one-time tax benefit
“The net decrease in tax expense of $601.2 million is related to a valuation allowance release, due to changes in judgment regarding the realizability of certain deferred tax assets.”
New risks since the previous report
Government antitrust suit could force sale of Ticketmaster
“with various forms of relief requested for the alleged violations, including without limitation the divestiture of Ticketmaster by the Company, cancellation of certain ticketing contracts”
Big jump in spending on new venues
“We expect capital expenditures to be approximately $900 million to $1.0 billion for the year ending December 31, 2025 with approximately 85% dedicated to revenue generating projects”
New European travel rules for touring artists
“A European visa-waiver system (ETIAS – European Travel Information and Authorization System) will be required for visitors from 60 visa-exempt countries to enter 30 European countries for a short stay, expected to come into force mid-2025.”
Biggest risks named
- DOJ and state antitrust suit seeking a Ticketmaster breakup
- Astroworld and other safety-related legal liabilities
- $6.5 billion of debt and loan terms that restrict the business
- Data breaches, ticketing system failures and privacy regulation
- Economic slowdown cutting concert and sponsorship spending
Artificial intelligence in this business: Not mentioned
How the score adds up
| Starting point | 60 | |
| Business momentum | −3 | |
| Outlook | +3 | |
| Tone against the previous report | 0 | |
| Financial stress | 0 | |
| Red flags | −10.8 | |
| New risks | −1.5 | |
| Score | 48 | |
Written by AI (Claude Opus 5.5) from the report’s text. 15 of 15 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-K | Feb 19, 2026 | Pro | |||
| 10-K | Feb 21, 2025 | 48 | Mixed | 2 medium1 minor | |
| 10-K | Feb 22, 2024 | 74 | Strong improvement | None | |
| 10-K | Feb 23, 2023 | 74 | Strong improvement | 1 minor | |
| 10-K | Feb 23, 2022 | 73 | Strong improvement | 1 medium | |
| 10-K | Mar 1, 2021 | 28 | Sharp deterioration | 1 medium1 minor | |
| 10-K | Feb 27, 2020 | 69 | Strong improvement | 1 medium1 minor | |
| 10-K | Feb 28, 2019 | 73 | Strong improvement | 2 minor | |
| 10-K | Feb 27, 2018 | 42 | Sharp deterioration | 1 medium1 minor | |
| 10-K | Feb 23, 2017 | 72 | Strong improvement | 1 minor |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q2 FY2026 (period ended Jun 30, 2026), filed Jul 30, 2026. View filings on SEC EDGAR