Live Nation Entertainment, Inc. (LYV) financials
NYSE · Communication Services · Entertainment · 17,700 employees · CEO Michael Rapino
- Price
- $177.89 +0.03%
- Market cap
- $41.4B
- Enterprise value
- $43.7B
- Last report
- Q2 '26 filed 2026-07-30
- Next report
- 2026-11-05 EPS est. $1.51
Revenue (TTM)$26.3B+10.8% vs a year agoLast 4 quarters; bars = each quarter
Operating margin (TTM)3.4%-0.8 pp vs a year agoOperating income $904M
Net income (TTM)$135M-85.3% vs a year agoAfter tax, incl. non-operating gains
Free cash flow (TTM)$1.37B+28.2% vs a year agoCapex $1.23B
Diluted EPS (TTM)-$1.12-148.6% vs a year agoSum of the last 4 quarters
Net cash-$2.21B-62.2% vs a year agoCash + short-term investments - debt
Valuation & key figures
- Market cap
- $41.4B EV $43.7B
- Revenue
- $26.3B Trailing 12 months
- Revenue growth
- +12% FY2026 consensus
- Profit margin
- 0.5% Net income / revenue, TTM
- P/E
- -161.7× Forward -476.8× (FY2026)
- P/S
- 1.6× Price / sales, TTM
- EV / EBITDA
- 25.8× TTM
- Free cash flow
- $1.37B Trailing 12 months
- Net income
- $135M Trailing 12 months
- Revenue estimate
- $28.1B FY2026 consensus
- Earnings
- 2026-11-05 Revenue est. $9.6B
- Dividend
- – No dividend
Key takeaways
Computed from the reported numbers - every statement carries the figure it rests on.
- Last report (2026-07-30): revenue beat by 1.5%, EPS beat by 58.9%Revenue $7.67B vs $7.56B expected (+1.5%); EPS $1.05 vs $0.66 (+58.9%).
- Revenue growth slowing: 9.4% year on yearQ2 '26 revenue $7.67B, against an average of 12.7% over the four quarters before.
- Operating margin 3.4% (TTM), -0.8 pp on a year agoOperating income grew -9.8% while revenue grew 10.8%.
- 38.9% of pre-tax profit is eaten by non-operating lossesPre-tax income $651M vs operating income $904M (TTM). Losses on equity stakes and other one-off items cut net income and EPS - operating income is the cleaner measure of the business.
- Capex 4.7% of revenue (a year ago 3.4%)$1.23B invested in the last 4 quarters (+54.9% on a year earlier). Free cash flow $1.37B = 1,020.7% of net income.
- Diluted share count up 4.1% in a year244M diluted shares in Q2 '26, 234M a year earlier.
- Net debt $2.21BCash + short-term investments $9.07B, debt incl. leases $11.3B; a year ago net debt $1.36B.
Last quarter: Q2 '26
Quarter ended 2026-06-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.
Quarter vs a year ago
| Q2 '26 | Year ago | Change | |
|---|---|---|---|
| Revenue | $7.67B | $7.01B | +9.4% |
| Gross margin | 25.3% | 25.6% | -0.3 pp |
| Operating income | $513M | $487M | +5.5% |
| Operating margin | 6.7% | 6.9% | -0.2 pp |
| Net income | $294M | $243M | +21.0% |
| Diluted EPS | $1.05 | $0.41 | +156.1% |
| Operating cash flow | $419M | $223M | +87.6% |
| Capex | $290M | $263M | +9.9% |
| Free cash flow | $130M | -$39.9M | +424.8% |
| R&D | $0 | $0 | – |
| Stock-based compensation | $62M | $61.5M | +0.8% |
Reported vs consensus
2026-07-30| Actual | Consensus | vs consensus | |
|---|---|---|---|
| Revenue | $7.67B | $7.56B | +1.5% |
| EPS (as estimated) | $1.05 | $0.66 | +58.9% |
From the report of 2026-07-30 for Q2 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.
EPS vs consensus
last 8 reportsRevenue
Where the money comes from - by business line and by region, quarter by quarter.
Revenue, operating income and growth
quarterlyRevenue by business line
stacked, quarterly| Segment | Q2 '26 | y/y | Share | TTM | TTM y/y | 12 quarters |
|---|---|---|---|---|---|---|
| Concerts | $6.44B | +8.4% | 84.1% | $10.1B | -56.8% | |
| Sponsorship and Advertising | $383M | +12.5% | 5.0% | $2.04B | +231.9% | |
| Ticketing | $852M | +14.7% | 11.1% | $1.66B | -54.4% | |
| Intersegment Eliminations | -$12.7M | – | -0.2% | – | – | |
| Corporate Segment | $0 | – | 0.0% | – | – |
Margins & cost structure
How much of each unit of revenue is left at each level - and where the costs go.
Margins
quarterlyCosts as % of revenue
quarterlyCash flow & capital allocation
Cash generated, what it is spent on, and what reaches shareholders.
Operating cash flow, capex, free cash flow
quarterlyUses of cash vs operating cash flow
fiscal yearsLast 4 quarters
cash flow statement- Operating cash flow
- $2.61B
- Capex
- -$1.23B
- Buybacks
- $0
- Dividends
- $0
- Acquisitions
- -$341M
- Net debt issued
- $2.49B
- Stock-based compensation
- $164M
- Free cash flow
- $1.37B
- Returned to shareholders / FCF
- -0.0%
Share count and EPS
quarterly, dilutedBalance sheet
Liquidity, investments and debt at each quarter end.
Cash, investments and debt
quarter endsValuation & returns
Today's multiples against the company's own last five fiscal years; analyst targets and ratings.
Multiples and returns
TTM vs 5 fiscal years| Now | 5y average | Where today sits in the 5-year range | |
|---|---|---|---|
| P/E (TTM) | -161.7× | 73.9× 3 of 5 years | 46.8× – 105.7× |
| EV / EBITDA | 25.8× | 78.7× | 13.3× – 326.7× |
| EV / Sales | 1.7× | 1.9× | 1.0× – 4.6× |
| Price / FCF | 30.1× | 37.5× | 10.6× – 108.3× |
| Price / Book | 503.1× | 147.0× 2 of 5 years | 121.9× – 172.0× |
| FCF yield | 3.3% | 4.9% | 0.9% – 9.5% |
| Return on invested capital | 3.7% | 5.0% | -5.0% – 8.1% |
| Return on equity | 73.3% | -501.6% | -3,247.6% – 517.3% |
Analysts
Consensus target $208.27 (+17.1%)
range $183.00 – $222.00 · rating Buy
Strong buy0
Buy40
Hold6
Sell0
Strong sell0
Outlook
Analyst consensus for the coming fiscal years and what it implies at today's price.
Consensus estimates
| Fiscal year | Revenue | Growth | EPS | Growth | P/E at today's price | Analysts (EPS) |
|---|---|---|---|---|---|---|
| FY2026 | $28.1B | +11.6% | -$0.37 | -55.4% | -476.8× | 12 |
| FY2027 | $30.8B | +9.5% | $1.83 | +591.8% | 97.0× | 13 |
| FY2028 | $33.7B | +9.4% | $2.84 | +54.9% | 62.6× | 10 |
| FY2029 | $36.9B | +9.6% | $4.06 | +42.9% | 43.8× | 4 |
| FY2030 | $43.4B | +17.7% | $3.98 | -2.0% | 44.7× | 4 |
Financial statements
Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.
Every reported line
All 290 figures Live Nation Entertainment, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).
| Line (SEC label) | Latest quarter | Year ago | y/y | Latest FY | Prior FY | y/y |
|---|---|---|---|---|---|---|
| Accounts Payable, Current | $253M2025-12-31 | $243M | +4.2% | $253M | $243M | +4.2% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $2.89B | $2.46B | +17.1% | $2.01B | $1.75B | +15.0% |
| Accounts Receivable, Allowance for Credit Loss, Current | $92.3M | $81.1M | +13.8% | $73.9M | $72.7M | +1.7% |
| Accounts Receivable, Credit Loss Expense (Reversal) | $20.2M | $9.97M | +102.7% | $30.8M | $1M | +2,972.3% |
| Accrued Insurance, Current | $410M2025-12-31 | $317M | +29.2% | $410M | $317M | +29.2% |
| Accrued Liabilities, Current | $3.56B2025-12-31 | $3.3B | +7.7% | $3.56B | $3.3B | +7.7% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $2.19B | $2.11B | +4.0% | $2.06B | $1.9B | +8.5% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$142M | -$152M | +6.8% | -$115M | -$335M | +65.7% |
| Additional Paid in Capital | $1.39B | $1.79B | -22.3% | $1.46B | $2.06B | -29.3% |
| Adjustments to Additional Paid in Capital, Equity Component of Convertible Debt | – | – | – | $450M2022-12-31 | $33.3M | +1,248.3% |
| Adjustments to Additional Paid in Capital, Other | $02025-12-31 | – | – | -$2K | $94M | -100.0% |
| Amortization of Debt Issuance Costs | – | – | – | $7.1M | $4.1M | +73.5% |
| Amortization of Debt Issuance Costs and Discounts | $6.14M | $4.45M | +38.1% | $20.2M | $17.8M | +13.8% |
| Amortization of Intangible Assets | $67M | $64.7M | +3.6% | $265M | $249M | +6.1% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 12.6M | 16.1M | -21.6% | 25.2M | 16.5M | +52.9% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $60.2M | $59.2M | +1.7% | $157M | $110M | +42.7% |
| Assets | $28.2B | $23.2B | +21.7% | $22.9B | $19.6B | +16.7% |
| Assets, Current | $15B | $11.8B | +26.5% | $11B | $9.29B | +18.1% |
| Business Combination, Acquisition Related Costs | $30.9M | $79.1M | -61.0% | $260M | $129M | +102.0% |
| Cash and Cash Equivalents, at Carrying Value | $9.07B | $7.06B | +28.6% | $7.09B | $6.1B | +16.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $9.17B | $7.07B | +29.7% | $7.11B | $6.11B | +16.4% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | $80.7M | -$98.6M | +181.8% | $1B | -$133M | +853.4% |
| Common Stock, Par or Stated Value Per Share | $0.012025-12-31 | $0.01 | 0.0% | $0.01 | $0.01 | 0.0% |
| Common Stock, Shares Authorized | 450M2025-12-31 | 450M | 0.0% | 450M | 450M | 0.0% |
| Common Stock, Shares, Issued | 236M2025-12-31 | 235M | +0.5% | 236M | 235M | +0.5% |
| Common Stock, Shares, Outstanding | 235M2025-12-31 | 234M | +0.5% | 235M | 234M | +0.5% |
| Common Stock, Value, Issued | $2.34M | $2.32M | +0.5% | $2.33M | $2.31M | +0.6% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest | $108M | $59.3M | +82.8% | $195M | $235M | -17.1% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | $238M | $372M | -36.0% | $716M | $534M | +34.2% |
| Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest | $346M | $431M | -19.7% | $911M | $769M | +18.5% |
| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Change Due to Net Income Attributable to Parent and Effects of Changes, Net | – | – | – | $464M | $866M | -46.5% |
| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Net | – | – | – | -$32.4M | -$30M | -7.9% |
| Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Changes, Purchase of Interest by Parent | – | – | – | $32.4M | $30M | +7.9% |
| Construction in Progress, Gross | $844M | $635M | +33.1% | $831M | $387M | +114.8% |
| Contract with Customer, Liability, Current | $7.33B | $5.91B | +24.1% | – | – | – |
| Contract with Customer, Liability, Revenue Recognized | $1.87B | $1.63B | +14.7% | $3.58B | $3.32B | +7.9% |
| Contractual Obligation | $4.48B2025-12-31 | $4.89B | -8.4% | $4.48B | $4.89B | -8.4% |
| Contractual Obligation, to be Paid, after Year Five | $346M2025-12-31 | $481M | -28.0% | $346M | $481M | -28.0% |
| Contractual Obligation, to be Paid, Year Five | $159M2025-12-31 | $149M | +6.6% | $159M | $149M | +6.6% |
| Contractual Obligation, to be Paid, Year Four | $449M2025-12-31 | $398M | +12.8% | $449M | $398M | +12.8% |
| Contractual Obligation, to be Paid, Year One | $2.42B2025-12-31 | $2.64B | -8.3% | $2.42B | $2.64B | -8.3% |
| Contractual Obligation, to be Paid, Year Three | $292M2025-12-31 | $312M | -6.5% | $292M | $312M | -6.5% |
| Contractual Obligation, to be Paid, Year Two | $806M2025-12-31 | $907M | -11.1% | $806M | $907M | -11.1% |
| Current Federal Tax Expense (Benefit) | – | – | – | -$6.18M | $39.1M | -115.8% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $345M | $253M | +36.3% |
| Current Income Tax Expense (Benefit) | – | – | – | $360M | $317M | +13.7% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $21M | $24.3M | -13.6% |
| Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net | $80.9M | – | – | – | – | – |
| Debt, Long-term and Short-term, Combined Amount | $9.2B | $6.48B | +42.1% | $8.2B | $6.44B | +27.4% |
| Deferred Federal Income Tax Expense (Benefit) | – | – | – | $55.2M | -$557M | +109.9% |
| Deferred Foreign Income Tax Expense (Benefit) | – | – | – | -$68.2M | -$126M | +46.0% |
| Deferred Income Tax Assets, Net | $451M2025-12-31 | $578M | -22.0% | $451M | $578M | -22.0% |
| Deferred Income Tax Expense (Benefit) | $52.2M | $20.9M | +150.4% | -$20.5M | -$709M | +97.1% |
| Deferred Income Tax Liabilities, Net | $83.3M2025-12-31 | $140M | -40.6% | $83.3M | $140M | -40.6% |
| Deferred Revenue, Current | $4.46B2025-12-31 | $3.72B | +19.9% | $4.46B | $3.72B | +19.9% |
| Deferred Revenue, Noncurrent | $73.1M2025-12-31 | $120M | -39.1% | $73.1M | $120M | -39.1% |
| Deferred State and Local Income Tax Expense (Benefit) | – | – | – | -$7.52M | -$24.7M | +69.6% |
| Deferred Tax Asset, Interest Carryforward | $73M2025-12-31 | $69.1M | +5.7% | $73M | $69.1M | +5.7% |
| Deferred Tax Assets, Goodwill and Intangible Assets | $16.4M2025-12-31 | $12.4M | +31.8% | $16.4M | $12.4M | +31.8% |
| Deferred Tax Assets, Gross | $1.65B2025-12-31 | $1.55B | +6.4% | $1.65B | $1.55B | +6.4% |
Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.
Sources
Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30, 10-Q 2024-06-30
Data as of 2026-11-02