Live Nation Entertainment (LYV) Financials

$165.74 -0.24 (-0.14%)

Closing price 05/22/2026 03:59 PM Eastern

Extended Trading

$165.30 -0.45 (-0.27%)

As of 05/22/2026 07:52 PM Eastern

Annual Income Statements for Live Nation Entertainment

This table shows Live Nation Entertainment's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-33	-47	-98	-18	70	-1,725	-651	266	557	896	496
Consolidated Net Income / (Loss)	-16	20	7.77	90	118	-1,828	-609	375	704	1,131	691
Net Income / (Loss) Continuing Operations	-16	20	7.77	90	118	-1,828	-609	375	704	1,131	691
Total Pre-Tax Income	6.35	48	-9.38	131	185	-1,857	-611	491	913	739	1,031
Total Operating Income	131	195	91	273	325	-1,653	-418	722	1,085	825	1,251
Total Gross Profit	2,049	2,187	2,505	2,820	3,081	459	1,912	4,334	5,436	5,775	6,438
Total Revenue	7,246	7,826	9,687	10,788	11,548	1,861	6,268	16,681	22,726	23,156	25,201
Operating Revenue	7,246	7,826	9,687	10,788	11,548	1,861	6,268	16,681	22,726	23,156	25,201
Total Cost of Revenue	5,196	5,639	7,182	7,968	8,467	1,402	4,356	12,348	17,291	17,381	18,763
Operating Cost of Revenue	5,196	5,639	7,182	7,968	8,467	1,402	4,356	12,348	17,291	17,381	18,763
Total Operating Expenses	1,918	1,992	2,414	2,547	2,756	2,112	2,330	3,612	4,351	4,950	5,187
Selling, General & Admin Expense	1,520	1,674	2,043	2,150	2,314	1,626	1,915	3,194	3,848	4,411	4,566
Depreciation Expense	397	319	372	387	444	485	416	450	517	550	639
Other Special Charges / (Income)	0.85	0.12	-0.97	10	-2.37	0.50	-1.21	-32	-14	-11	-19
Total Other Income / (Expense), net	-125	-147	-101	-141	-140	-203	-193	-232	-172	-85	-221
Interest Expense	103	121	108	141	158	227	282	278	369	329	317
Interest & Investment Income	5.03	-15	6.88	12	21	4.55	93	88	232	140	154
Other Income / (Expense), net	-27	-11	0.12	-12	-3.20	19	-3.69	-41	-35	104	-58
Income Tax Expense	22	28	-17	41	67	-29	-2.48	116	209	-392	340
Net Income / (Loss) Attributable to Noncontrolling Interest	17	17	14	30	48	-103	42	108	147	235	195
Basic Earnings per Share	($0.33)	($0.23)	($0.48)	($0.09)	($0.02)	($8.12)	($3.09)	$0.53	$1.35	$2.77	($0.24)
Weighted Average Basic Shares Outstanding	200.97M	202.08M	204.92M	207.44M	210.08M	212.27M	217.19M	224.81M	228.63M	230.12M	231.84M
Diluted Earnings per Share	($0.33)	($0.23)	($0.48)	($0.09)	($0.02)	($8.12)	($3.09)	$0.52	$1.34	$2.74	($0.24)
Weighted Average Diluted Shares Outstanding	200.97M	202.08M	204.92M	207.44M	210.08M	212.27M	217.19M	231.56M	230.98M	236.35M	231.84M
Weighted Average Basic & Diluted Shares Outstanding	200.97M	202.08M	204.92M	207.44M	210.08M	212.27M	217.19M	231.59M	230.80M	233.40M	234.80M

This table shows Live Nation Entertainment's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	521	-255	-54	298	452	193	23	243	431	-202	-389
Consolidated Net Income / (Loss)	581	-253	-43	376	516	271	46	303	478	-136	-380
Net Income / (Loss) Continuing Operations	581	-253	-43	376	516	271	46	303	478	-136	-380
Total Pre-Tax Income	632	-159	-1.69	456	586	-306	66	420	730	-186	-412
Total Operating Income	654	-98	-41	466	640	-244	115	487	792	-143	-371
Total Gross Profit	1,857	1,141	1,148	1,615	1,871	1,188	1,127	1,796	2,061	1,454	1,315
Total Revenue	8,155	5,814	3,800	6,023	7,651	5,682	3,382	7,007	8,499	6,314	3,793
Operating Revenue	8,155	5,814	3,800	6,023	7,651	5,682	3,382	7,007	8,499	6,314	3,793
Total Cost of Revenue	6,298	4,672	2,651	4,408	5,780	4,493	2,255	5,211	6,438	4,860	2,478
Operating Cost of Revenue	6,298	4,672	2,651	4,408	5,780	4,493	2,255	5,211	6,438	4,860	2,478
Total Operating Expenses	1,203	1,239	1,190	1,149	1,231	1,433	1,012	1,309	1,269	1,596	1,685
Selling, General & Admin Expense	1,074	1,111	1,058	1,012	1,098	1,296	865	1,151	1,118	1,432	1,522
Depreciation Expense	131	134	133	138	137	143	149	159	166	165	169
Other Special Charges / (Income)	-1.58	-5.84	-0.65	-0.78	-3.97	-5.62	-2.20	-0.86	-15	-0.62	-6.02
Total Other Income / (Expense), net	-22	-62	40	-9.43	-54	-62	-49	-66	-63	-43	-42
Interest Expense	86	111	81	80	88	80	80	72	80	84	91
Interest & Investment Income	83	42	43	50	22	24	35	42	31	46	37
Other Income / (Expense), net	-19	7.33	77	21	12	-6.19	-2.95	-36	-14	-4.40	12
Income Tax Expense	50	94	41	80	70	-578	20	118	252	-49	-32
Net Income / (Loss) Attributable to Noncontrolling Interest	60	1.96	12	78	64	78	23	59	47	66	9.09
Basic Earnings per Share	$2.01	($1.45)	($0.56)	$1.05	$1.72	$0.53	($0.32)	$0.41	$0.74	($1.07)	($1.85)
Weighted Average Basic Shares Outstanding	228.79M	228.63M	229.47M	229.92M	230.37M	230.12M	231.22M	231.85M	232.04M	231.84M	232.40M
Diluted Earnings per Share	$1.93	($1.36)	($0.56)	$1.03	$1.66	$0.58	($0.32)	$0.41	$0.73	($1.06)	($1.85)
Weighted Average Diluted Shares Outstanding	244.16M	230.98M	229.47M	245.00M	245.32M	236.35M	231.22M	234.42M	234.75M	231.84M	232.40M
Weighted Average Basic & Diluted Shares Outstanding	230.33M	230.80M	231.44M	232.11M	232.35M	233.40M	234.09M	234.47M	234.74M	234.80M	235.55M

This table details how cash moves in and out of Live Nation Entertainment's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-79	225	299	549	96	72	2,341	732	619	-133	1,001
Net Cash From Operating Activities	308	599	624	942	470	-1,083	1,781	1,835	1,363	1,725	1,395
Net Cash From Continuing Operating Activities	308	599	624	942	470	-1,083	1,781	1,835	1,363	1,725	1,395
Net Income / (Loss) Continuing Operations	-16	20	7.77	90	118	-1,828	-609	375	704	1,131	691
Consolidated Net Income / (Loss)	-16	20	7.77	90	118	-1,828	-609	375	704	1,131	691
Depreciation Expense	134	139	150	185	220	246	223	226	267	300	374
Amortization Expense	274	277	97	100	328	320	305	95	351	356	373
Non-Cash Adjustments To Reconcile Net Income	59	87	312	305	92	137	97	457	223	-4.92	265
Changes in Operating Assets and Liabilities, net	-143	76	58	260	-288	42	1,764	683	-181	-57	-308
Net Cash From Investing Activities	-291	-426	-328	-497	-691	-224	-567	-785	-696	-854	-1,226
Net Cash From Continuing Investing Activities	-291	-426	-328	-497	-691	-224	-567	-785	-696	-854	-1,226
Purchase of Property, Plant & Equipment	-142	-174	-238	-240	-324	-214	-153	-347	-439	-647	-1,062
Acquisitions	-124	-247	-84	-202	-335	-61	-502	-354	-109	-173	-148
Purchase of Investments	-	-	-	-	-	-	-	-	0.00	0.00	-1.36
Sale of Property, Plant & Equipment	-	-	-	-	-	-	-	-	1.48	7.37	26
Sale and/or Maturity of Investments	-	8.05	9.66	34	15	100	114	24	19	72	23
Other Investing Activities, net	-24	-14	-15	-89	-47	-49	-27	-107	-168	-114	-64
Net Cash From Financing Activities	-44	99	-127	189	329	1,350	1,171	-143	-87	-659	407
Net Cash From Continuing Financing Activities	-44	99	-127	189	329	1,350	1,171	-143	-87	-659	407
Repayment of Debt	-71	-617	-111	-405	-437	-31	-110	-46	-731	-1,960	-2,051
Repurchase of Common Equity	-	-	-	-	-	-	-	-	0.00	0.00	-24
Payment of Dividends	-37	-76	-62	-78	-134	-109	-70	-145	-257	-269	-263
Issuance of Debt	57	844	61	859	937	1,607	904	122	1,061	1,672	3,714
Issuance of Common Equity	0.71	0.09	11	4.90	14	5.42	472	15	20	3.00	35
Other Financing Activities, net	6.53	-53	-26	-192	-52	-123	-25	-89	-179	-104	-1,005
Other Net Changes in Cash	-	-47	130	-84	-	30	-	-175	39	-345	426
Cash Interest Paid	93	97	87	100	104	166	224	181	57	133	119
Cash Income Taxes Paid	44	30	45	60	67	26	16	44	175	254	313

This table details how cash moves in and out of Live Nation Entertainment's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-1,189	284	270	-100	-909	605	1,062	-99	-307	344	1,984
Net Cash From Operating Activities	-892	608	989	412	-721	1,045	1,321	223	-96	-54	2,339
Net Cash From Continuing Operating Activities	-892	608	989	412	-721	1,045	1,321	223	-96	-54	2,339
Net Income / (Loss) Continuing Operations	554	-225	-43	376	505	282	46	303	478	-136	-380
Consolidated Net Income / (Loss)	554	-225	-43	376	505	282	46	303	478	-136	-380
Depreciation Expense	66	73	71	76	76	78	89	94	97	93	100
Amortization Expense	-102	279	90	87	84	96	88	90	90	105	101
Non-Cash Adjustments To Reconcile Net Income	223	-96	-51	-34	56	24	36	104	2.98	123	17
Changes in Operating Assets and Liabilities, net	-1,632	578	922	-93	-1,441	565	1,061	-367	-764	-238	2,501
Net Cash From Investing Activities	-165	-232	-171	-264	-208	-211	-217	-275	-340	-394	-418
Net Cash From Continuing Investing Activities	-165	-232	-171	-264	-208	-211	-217	-275	-340	-394	-418
Purchase of Property, Plant & Equipment	-102	-134	-134	-200	-158	-175	-171	-263	-276	-352	-309
Acquisitions	-61	-56	-14	-40	-39	-60	-56	-29	-33	-29	-123
Sale and/or Maturity of Investments	1.26	9.03	2.64	19	1.50	49	9.38	8.41	3.82	1.26	5.92
Other Investing Activities, net	-2.80	-51	-25	-43	-13	-26	0.05	-11	-61	7.33	8.17
Net Cash From Financing Activities	-29	-132	-478	-165	-49	34	-173	-325	176	729	117
Net Cash From Continuing Financing Activities	-29	-132	-478	-165	-49	34	-173	-325	176	729	117
Repayment of Debt	-12	-106	-374	-4.01	-6.74	-1,576	-87	-17	-7.35	-1,940	-7.47
Payment of Dividends	-20	-90	-73	-120	-29	-48	-35	-144	-29	-55	-40
Issuance of Debt	1.54	73	0.56	0.32	1.15	1,670	11	52	885	2,766	226
Issuance of Common Equity	0.77	4.11	0.03	-	2.97	-	4.61	6.65	2.74	21	11
Other Financing Activities, net	1.23	-14	-32	-41	-18	-12	-67	-222	-677	-39	-73
Other Net Changes in Cash	-104	39	-69	-	-	-	-	-	-	-	-55

This table presents Live Nation Entertainment's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	6,156	6,764	7,504	8,497	10,976	10,589	14,402	16,461	19,030	19,639	22,913
Total Current Assets	2,288	2,674	3,153	3,848	4,193	3,650	6,684	8,160	9,533	9,290	10,974
Cash & Equivalents	1,303	1,527	1,825	2,372	2,470	2,538	4,885	5,606	6,232	6,095	7,094
Accounts Receivable	453	569	725	829	995	487	1,067	1,465	2,025	1,747	2,009
Prepaid Expenses	496	528	547	598	667	577	655	950	1,148	1,247	1,454
Other Current Assets	36	50	52	43	57	39	75	132	122	200	417
Plant, Property, & Equipment, net	731	752	886	947	1,118	1,101	1,092	1,488	2,101	2,442	3,416
Total Noncurrent Assets	3,137	3,339	3,466	3,702	5,665	5,838	6,626	6,814	7,395	7,907	8,522
Goodwill	1,604	1,747	1,755	1,823	1,998	2,129	2,591	2,529	2,691	2,621	2,889
Intangible Assets	1,147	1,181	1,098	1,030	1,239	1,225	1,395	1,419	1,539	1,366	1,447
Other Noncurrent Operating Assets	385	411	613	849	2,427	2,484	2,640	2,865	3,164	3,919	4,186
Total Liabilities & Shareholders' Equity	6,156	6,764	7,504	8,497	10,976	10,589	14,402	16,461	19,030	19,639	22,913
Total Liabilities	4,446	5,068	5,841	6,825	9,062	10,451	14,039	15,697	17,618	17,693	21,094
Total Current Liabilities	2,101	2,460	3,577	3,750	4,108	3,797	6,856	8,303	9,984	9,358	11,029
Short-Term Debt	42	53	348	82	38	53	585	620	1,134	261	588
Accounts Payable	722	782	1,034	1,127	1,106	830	1,643	1,971	2,134	1,860	1,941
Accrued Expenses	687	781	1,109	1,245	1,391	894	1,646	2,368	3,031	3,300	3,556
Current Deferred Revenue	619	805	925	1,228	1,391	1,839	2,775	3,135	3,398	3,721	4,462
Other Current Liabilities	32	39	161	67	181	179	207	209	287	216	482
Total Noncurrent Liabilities	2,344	2,607	2,264	3,075	4,955	6,654	7,183	7,394	7,633	8,335	10,065
Long-Term Debt	2,003	2,260	1,952	2,733	3,271	4,855	5,145	5,283	5,459	6,177	7,612
Other Noncurrent Operating Liabilities	142	150	174	205	1,505	1,799	2,038	2,110	2,174	2,158	2,453
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	264	347	245	329	449	272	552	670	860	1,126	924
Total Equity & Noncontrolling Interests	1,447	1,350	1,418	1,343	1,464	-134	-188	94	552	819	894
Total Preferred & Common Equity	1,237	1,126	1,181	1,099	1,146	-472	-583	-368	-52	173	271
Total Common Equity	1,237	1,126	1,181	1,099	1,146	-472	-583	-368	-52	173	271
Common Stock	2,431	2,383	2,376	2,270	2,248	2,389	2,900	2,701	2,370	2,062	1,458
Retained Earnings	-1,075	-1,073	-1,079	-1,019	-949	-2,677	-3,328	-2,971	-2,443	-1,547	-1,042
Treasury Stock	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-30
Accumulated Other Comprehensive Income / (Loss)	-112	-177	-109	-145	-146	-177	-148	-90	27	-335	-115
Noncontrolling Interest	210	224	237	244	318	338	394	461	604	646	623

This table presents Live Nation Entertainment's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	19,925	19,141	19,030	20,030	20,454	19,747	19,639	21,827	23,150	22,888	26,068
Total Current Assets	10,777	10,007	9,533	10,428	10,684	9,775	9,290	11,069	11,823	11,308	13,642
Cash & Equivalents	7,129	5,949	6,232	6,502	6,399	5,490	6,095	7,159	7,057	6,751	9,078
Accounts Receivable	1,890	2,503	2,025	2,280	2,464	2,694	1,747	1,851	2,465	2,607	1,965
Prepaid Expenses	1,629	1,425	1,148	1,474	1,672	1,446	1,247	1,725	1,912	1,525	2,217
Other Current Assets	122	124	122	164	139	134	190	325	377	413	381
Plant, Property, & Equipment, net	1,904	1,956	2,101	2,117	2,236	2,376	2,442	2,688	2,949	3,122	3,664
Total Noncurrent Assets	7,244	7,178	7,395	7,486	7,534	7,596	7,907	8,070	8,378	8,458	8,762
Goodwill	2,619	2,654	2,691	2,699	2,664	2,670	2,621	2,703	2,821	2,842	2,933
Intangible Assets	1,496	1,500	1,539	1,541	1,476	1,428	1,366	1,408	1,461	1,433	1,440
Other Noncurrent Operating Assets	3,128	3,024	3,164	3,246	3,395	3,498	3,919	3,959	4,096	4,184	4,389
Total Liabilities & Shareholders' Equity	19,925	19,141	19,030	20,030	20,454	19,747	19,639	21,827	23,150	22,888	26,068
Total Liabilities	18,800	17,440	17,618	18,577	18,896	17,793	17,834	19,718	20,845	20,906	24,635
Total Current Liabilities	10,024	8,752	9,984	11,328	11,627	9,681	9,358	11,518	13,459	12,276	15,417
Short-Term Debt	51	51	1,134	1,137	1,137	582	261	480	1,485	1,251	1,801
Accounts Payable	1,965	2,019	2,134	2,127	2,107	2,376	2,103	2,284	2,522	2,774	2,175
Accrued Expenses	2,779	3,315	3,031	2,766	3,359	3,454	3,057	2,446	3,286	3,804	3,562
Current Deferred Revenue	5,026	3,084	3,398	5,025	4,799	3,035	3,721	6,077	5,910	4,064	7,411
Other Current Liabilities	203	283	287	273	225	234	216	231	256	383	468
Total Noncurrent Liabilities	8,777	8,688	7,633	7,249	7,269	8,113	8,475	8,200	7,386	8,631	9,218
Long-Term Debt	6,555	6,546	5,459	5,082	5,081	5,673	6,177	5,929	4,991	6,107	6,709
Other Noncurrent Operating Liabilities	2,222	2,142	2,174	2,167	2,188	2,440	2,158	2,272	2,395	2,524	2,509
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Redeemable Noncontrolling Interest	754	836	860	984	1,007	1,024	1,126	1,312	1,378	853	952
Total Equity & Noncontrolling Interests	371	865	552	469	551	930	819	798	928	1,129	482
Total Preferred & Common Equity	-187	222	-52	-115	-43	288	173	106	360	521	-139
Total Common Equity	-187	222	-52	-115	-43	288	173	106	360	521	-139
Common Stock	2,441	2,414	2,370	2,311	2,243	2,217	2,062	1,908	1,791	1,527	1,408
Retained Earnings	-2,681	-2,197	-2,443	-2,455	-2,157	-1,748	-1,547	-1,515	-1,271	-840	-1,431
Treasury Stock	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-6.87	-30
Accumulated Other Comprehensive Income / (Loss)	59	12	27	36	-123	-175	-335	-281	-152	-159	-86
Noncontrolling Interest	559	643	604	584	594	642	646	692	568	607	621

This table displays calculated financial ratios and metrics derived from Live Nation Entertainment's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.52%	8.01%	23.78%	11.36%	7.05%	-83.88%	236.80%	166.11%	36.24%	1.89%	8.83%
EBITDA Growth	33.74%	17.18%	-43.76%	61.72%	59.33%	-222.82%	109.96%	841.86%	66.36%	-4.93%	22.49%
EBIT Growth	9,642.49%	76.68%	-50.29%	184.52%	23.53%	-608.14%	74.21%	261.50%	54.18%	-11.55%	28.58%
NOPAT Growth	-6,602.41%	125.11%	-21.86%	193.53%	10.47%	-657.83%	74.72%	288.50%	51.64%	50.86%	-33.51%
Net Income Growth	84.90%	228.71%	-61.70%	1,062.08%	30.85%	-1,646.20%	66.69%	161.53%	87.89%	60.72%	-38.93%
EPS Growth	32.65%	30.30%	-108.70%	81.25%	77.78%	-40,500.00%	61.95%	116.83%	157.69%	104.48%	-108.76%
Operating Cash Flow Growth	5.37%	94.49%	4.14%	51.01%	-50.11%	-330.61%	264.35%	3.06%	-25.73%	26.57%	-19.12%
Free Cash Flow Firm Growth	-212.80%	111.05%	704.28%	-48.46%	-302.88%	-110.64%	210.13%	-29.82%	-82.31%	615.97%	-72.65%
Invested Capital Growth	5.98%	1.24%	-14.06%	-1.18%	30.32%	-9.01%	-51.76%	-12.58%	67.48%	20.99%	27.81%
Revenue Q/Q Growth	2.33%	-5.64%	12.18%	2.68%	2.55%	-58.76%	64.84%	10.52%	7.18%	-0.66%	2.57%
EBITDA Q/Q Growth	41.77%	-2.35%	-50.42%	27.88%	34.28%	-39.23%	166.06%	-19.66%	16.55%	-4.18%	6.76%
EBIT Q/Q Growth	417.42%	0.18%	-63.71%	75.23%	3.52%	-21.58%	38.90%	-5.87%	4.35%	-13.23%	9.00%
NOPAT Q/Q Growth	-3,005.97%	-25.83%	-62.61%	-36.58%	0.89%	-22.63%	38.67%	-11.77%	-8.74%	80.33%	-40.06%
Net Income Q/Q Growth	90.02%	-48.53%	-91.22%	74.59%	-1.22%	-21.80%	33.11%	-9.60%	-10.83%	77.55%	-37.71%
EPS Q/Q Growth	0.00%	0.00%	-1,300.00%	76.32%	0.00%	0.00%	60.49%	-27.78%	-20.24%	230.12%	-116.78%
Operating Cash Flow Q/Q Growth	8.49%	35.37%	-30.52%	104.31%	-34.66%	-108.33%	98.23%	8.95%	-17.81%	33.09%	-44.06%
Free Cash Flow Firm Q/Q Growth	-51.03%	-15.37%	-16.47%	642.42%	-661.18%	-6.75%	-0.13%	327.83%	-64.98%	166.85%	-86.78%
Invested Capital Q/Q Growth	-11.45%	-11.93%	-14.50%	-23.68%	-4.97%	-10.71%	-8.64%	-40.78%	-24.58%	-21.07%	13.52%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	28.28%	27.95%	25.86%	26.14%	26.68%	24.65%	30.51%	25.98%	24.09%	25.17%	25.55%
EBITDA Margin	7.07%	7.67%	3.49%	5.06%	7.53%	-57.42%	1.70%	6.01%	7.34%	6.84%	7.70%
Operating Margin	1.81%	2.49%	0.94%	2.53%	2.81%	-88.83%	-6.67%	4.33%	4.77%	3.56%	4.96%
EBIT Margin	1.44%	2.35%	0.94%	2.41%	2.79%	-87.81%	-6.73%	4.08%	4.62%	4.01%	4.74%
Profit (Net Income) Margin	-0.22%	0.26%	0.08%	0.84%	1.02%	-98.21%	-9.71%	2.25%	3.10%	4.88%	2.74%
Tax Burden Percent	-248.21%	42.00%	-82.88%	68.91%	63.86%	98.44%	99.59%	76.36%	77.06%	152.97%	67.03%
Interest Burden Percent	6.10%	26.25%	-10.25%	50.35%	57.55%	113.60%	145.00%	72.05%	87.01%	79.65%	86.33%
Effective Tax Rate	348.21%	58.00%	0.00%	31.09%	36.14%	0.00%	0.00%	23.64%	22.94%	-52.97%	32.97%
Return on Invested Capital (ROIC)	-13.68%	3.32%	2.77%	8.85%	8.54%	-44.09%	-15.78%	48.77%	59.27%	64.62%	32.18%
ROIC Less NNEP Spread (ROIC-NNEP)	30.55%	-4.74%	-6.17%	-12.61%	-5.49%	-86.04%	-35.52%	17.59%	18.29%	16.97%	11.75%
Return on Net Nonoperating Assets (RNNOA)	12.74%	-2.13%	-2.31%	-3.43%	-1.95%	-134.04%	-226.68%	17.70%	5.43%	2.76%	4.52%
Return on Equity (ROE)	-0.94%	1.19%	0.46%	5.42%	6.59%	-178.13%	-242.47%	66.47%	64.70%	67.38%	36.70%
Cash Return on Invested Capital (CROIC)	-19.49%	2.08%	17.89%	10.04%	-17.78%	-34.66%	54.05%	62.19%	8.82%	45.63%	7.76%
Operating Return on Assets (OROA)	1.72%	2.85%	1.28%	3.25%	3.30%	-15.16%	-3.37%	4.41%	5.92%	4.80%	5.61%
Return on Assets (ROA)	-0.26%	0.31%	0.11%	1.13%	1.21%	-16.95%	-4.87%	2.43%	3.97%	5.85%	3.25%
Return on Common Equity (ROCE)	-0.71%	0.83%	0.32%	3.70%	4.13%	-58.51%	509.12%	-56.04%	-12.49%	2.43%	4.33%
Return on Equity Simple (ROE_SIMPLE)	-1.27%	1.80%	0.66%	8.22%	10.32%	387.43%	104.49%	-101.91%	-1,345.57%	652.84%	0.00%
Net Operating Profit after Tax (NOPAT)	-326	82	64	188	207	-1,157	-293	551	836	1,261	839
NOPAT Margin	-4.50%	1.05%	0.66%	1.74%	1.80%	-62.18%	-4.67%	3.31%	3.68%	5.45%	3.33%
Net Nonoperating Expense Percent (NNEP)	-44.23%	8.06%	8.94%	21.47%	14.04%	41.95%	19.74%	31.18%	40.98%	47.65%	20.43%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.19%	11.70%	17.38%	9.22%
Cost of Revenue to Revenue	71.72%	72.05%	74.14%	73.86%	73.32%	75.35%	69.49%	74.02%	75.91%	74.83%	74.45%
SG&A Expenses to Revenue	20.98%	21.38%	21.09%	19.93%	20.04%	87.39%	30.55%	19.15%	17.11%	19.28%	18.12%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	26.47%	25.46%	24.92%	23.61%	23.87%	113.47%	37.18%	21.65%	19.32%	21.61%	20.58%
Earnings before Interest and Taxes (EBIT)	104	184	92	260	322	-1,634	-422	681	1,050	928	1,194
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	512	600	338	546	870	-1,069	106	1,002	1,667	1,585	1,941
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.02	4.81	7.45	9.39	13.33	0.00	0.00	0.00	0.00	173.67	123.43
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.69	0.69	0.91	0.96	1.32	8.57	4.29	0.97	0.95	1.30	1.33
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	218.55	0.00	0.00	60.43	38.71	33.57	67.44
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.46%	0.00%	0.00%	1.65%	2.58%	2.98%	1.48%
Enterprise Value to Invested Capital (EV/IC)	2.52	2.73	4.57	5.37	6.14	7.57	23.77	16.62	13.23	15.06	12.35
Enterprise Value to Revenue (EV/Rev)	0.85	0.86	1.01	1.05	1.46	10.17	4.58	1.05	1.03	1.39	1.43
Enterprise Value to EBITDA (EV/EBITDA)	12.08	11.27	28.89	20.75	19.40	0.00	269.55	17.49	14.02	20.31	18.60
Enterprise Value to EBIT (EV/EBIT)	59.38	36.76	106.61	43.51	52.47	0.00	0.00	25.74	22.27	34.68	30.25
Enterprise Value to NOPAT (EV/NOPAT)	0.00	82.67	152.49	60.33	81.35	0.00	0.00	31.78	27.96	25.52	43.05
Enterprise Value to Operating Cash Flow (EV/OCF)	20.10	11.30	15.65	12.03	35.92	0.00	16.11	9.55	17.15	18.66	25.88
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	131.80	23.62	53.22	0.00	0.00	28.63	24.92	187.94	36.15	178.46
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.20	1.36	1.38	1.68	1.73	35.39	15.77	7.73	4.67	3.31	4.51
Long-Term Debt to Equity	1.17	1.33	1.17	1.63	1.71	35.01	14.16	6.92	3.87	3.18	4.19
Financial Leverage	0.42	0.45	0.37	0.27	0.35	1.56	6.38	1.01	0.30	0.16	0.38
Leverage Ratio	3.60	3.79	4.25	4.80	5.43	10.51	49.77	27.38	16.31	11.52	11.30
Compound Leverage Factor	0.22	1.00	-0.44	2.42	3.13	11.94	72.17	19.73	14.19	9.17	9.76
Debt to Total Capital	54.45%	57.69%	58.04%	62.74%	63.36%	97.25%	94.04%	88.55%	82.36%	76.80%	81.85%
Short-Term Debt to Total Capital	1.13%	1.33%	8.77%	1.83%	0.72%	1.06%	9.60%	9.30%	14.17%	3.11%	5.87%
Long-Term Debt to Total Capital	53.32%	56.36%	49.27%	60.91%	62.64%	96.19%	84.43%	79.25%	68.19%	73.68%	75.98%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	12.61%	14.23%	12.15%	12.77%	14.70%	12.10%	15.52%	16.97%	18.29%	21.14%	15.45%
Common Equity to Total Capital	32.94%	28.08%	29.81%	24.49%	21.94%	-9.35%	-9.56%	-5.51%	-0.65%	2.07%	2.71%
Debt to EBITDA	3.99	3.85	6.81	5.16	3.80	-4.59	53.86	5.89	3.96	4.06	4.22
Net Debt to EBITDA	1.45	1.31	1.40	0.80	0.96	-2.21	7.92	0.29	0.21	0.21	0.57
Long-Term Debt to EBITDA	3.91	3.76	5.78	5.00	3.76	-4.54	48.36	5.27	3.27	3.90	3.92
Debt to NOPAT	-6.27	28.25	35.95	14.99	15.95	-4.24	-19.59	10.71	7.89	5.10	9.78
Net Debt to NOPAT	-2.28	9.61	7.36	2.33	4.02	-2.04	-2.88	0.53	0.42	0.26	1.32
Long-Term Debt to NOPAT	-6.14	27.60	30.52	14.55	15.77	-4.20	-17.59	9.58	6.53	4.90	9.08
Altman Z-Score	1.70	1.70	1.97	2.12	2.05	0.21	1.15	1.50	1.90	2.23	2.16
Noncontrolling Interest Sharing Ratio	24.66%	30.65%	31.32%	31.63%	37.39%	67.15%	309.98%	184.31%	119.30%	96.40%	88.20%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.09	1.09	0.88	1.03	1.02	0.96	0.98	0.98	0.95	0.99	1.00
Quick Ratio	0.84	0.85	0.71	0.85	0.84	0.80	0.87	0.85	0.83	0.84	0.83
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-465	51	413	213	-432	-910	1,002	703	124	891	202
Operating Cash Flow to CapEx	216.05%	344.45%	261.51%	392.60%	145.19%	-506.86%	1,165.80%	528.52%	310.75%	258.79%	134.66%
Free Cash Flow to Firm to Interest Expense	-4.52	0.43	3.83	1.51	-2.74	-4.01	3.55	2.52	0.34	2.71	0.64
Operating Cash Flow to Interest Expense	2.99	4.97	5.79	6.68	2.98	-4.78	6.30	6.59	3.70	5.25	4.40
Operating Cash Flow Less CapEx to Interest Expense	1.61	3.52	3.57	4.98	0.93	-5.72	5.76	5.34	2.51	3.22	1.13
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.20	1.21	1.36	1.35	1.19	0.17	0.50	1.08	1.28	1.20	1.18
Accounts Receivable Turnover	16.62	15.32	14.97	13.88	12.66	2.51	8.07	13.18	13.02	12.28	13.42
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	10.16	10.56	11.83	11.77	11.19	1.68	5.72	12.93	12.66	10.19	8.60
Accounts Payable Turnover	7.15	7.50	7.91	7.37	7.58	1.45	3.52	6.83	8.40	8.18	9.87
Days Sales Outstanding (DSO)	21.96	23.82	24.38	26.30	28.82	145.25	45.22	27.70	28.03	29.73	27.20
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	51.06	48.64	46.14	49.51	48.14	252.01	103.63	53.42	43.43	44.62	36.97
Cash Conversion Cycle (CCC)	-29.10	-24.82	-21.76	-23.21	-19.32	-106.76	-58.40	-25.72	-15.41	-14.90	-9.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,453	2,483	2,134	2,109	2,748	2,501	1,206	1,055	1,766	2,137	2,924
Invested Capital Turnover	3.04	3.17	4.20	5.09	4.76	0.71	3.38	14.76	16.11	11.86	9.67
Increase / (Decrease) in Invested Capital	138	31	-349	-25	639	-247	-1,294	-152	712	371	636
Enterprise Value (EV)	6,187	6,768	9,756	11,330	16,877	18,926	28,679	17,524	23,377	32,194	36,104
Market Capitalization	4,972	5,411	8,803	10,320	15,274	15,954	26,890	16,102	21,558	30,090	33,451
Book Value per Share	$6.11	$5.54	$5.71	$5.24	$5.36	($2.17)	($2.59)	($1.59)	($0.23)	$0.75	$1.15
Tangible Book Value per Share	($7.48)	($8.86)	($8.08)	($8.37)	($9.79)	($17.62)	($20.34)	($18.69)	($18.59)	($16.41)	($17.32)
Total Capital	3,756	4,010	3,963	4,487	5,223	5,047	6,094	6,667	8,005	8,383	10,018
Total Debt	2,045	2,313	2,300	2,815	3,309	4,909	5,731	5,903	6,593	6,438	8,200
Total Long-Term Debt	2,003	2,260	1,952	2,733	3,271	4,855	5,145	5,283	5,459	6,177	7,612
Net Debt	742	786	471	437	835	2,362	843	291	354	332	1,105
Capital Expenditures (CapEx)	142	174	238	240	324	214	153	347	439	667	1,036
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,074	-1,260	-1,905	-2,198	-2,351	-2,640	-4,474	-5,136	-5,556	-5,913	-6,561
Debt-free Net Working Capital (DFNWC)	229	267	-77	180	123	-93	414	476	683	193	533
Net Working Capital (NWC)	187	213	-424	98	85	-147	-172	-144	-451	-68	-54
Net Nonoperating Expense (NNE)	-310	62	56	97	89	671	316	177	132	130	148
Net Nonoperating Obligations (NNO)	742	786	471	437	835	2,362	843	291	354	192	1,105
Total Depreciation and Amortization (D&A)	408	416	246	286	548	566	528	321	617	656	748
Debt-free, Cash-free Net Working Capital to Revenue	-14.82%	-16.10%	-19.67%	-20.37%	-20.36%	-141.84%	-71.38%	-30.79%	-24.45%	-25.54%	-26.03%
Debt-free Net Working Capital to Revenue	3.17%	3.41%	-0.79%	1.67%	1.07%	-5.02%	6.60%	2.85%	3.01%	0.83%	2.12%
Net Working Capital to Revenue	2.58%	2.72%	-4.38%	0.91%	0.74%	-7.89%	-2.74%	-0.86%	-1.98%	-0.29%	-0.22%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.33)	($0.23)	($0.48)	($0.09)	($0.02)	($8.12)	($3.09)	$0.66	$1.38	$2.77	($0.24)
Adjusted Weighted Average Basic Shares Outstanding	202.46M	204.76M	208.17M	210.90M	214.53M	218.05M	224.63M	224.81M	228.63M	230.12M	231.84M
Adjusted Diluted Earnings per Share	($0.33)	($0.23)	($0.48)	($0.09)	($0.02)	($8.12)	($3.09)	$0.64	$1.37	$2.74	($0.24)
Adjusted Weighted Average Diluted Shares Outstanding	202.46M	204.76M	208.17M	210.90M	214.53M	218.05M	224.63M	231.56M	230.98M	236.35M	231.84M
Adjusted Basic & Diluted Earnings per Share	($0.33)	($0.23)	($0.48)	($0.09)	($0.02)	($8.12)	($3.09)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	200.97M	202.08M	204.92M	207.44M	210.08M	212.27M	217.19M	231.59M	230.80M	233.40M	234.80M
Normalized Net Operating Profit after Tax (NOPAT)	93	137	63	195	206	-1,157	-293	527	825	569	826
Normalized NOPAT Margin	1.28%	1.74%	0.65%	1.81%	1.78%	-62.16%	-4.68%	3.16%	3.63%	2.46%	3.28%
Pre Tax Income Margin	0.09%	0.62%	-0.10%	1.22%	1.60%	-99.76%	-9.75%	2.94%	4.02%	3.19%	4.09%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	1.01	1.53	0.85	1.85	2.04	-7.21	-1.49	2.44	2.85	2.83	3.77
NOPAT to Interest Expense	-3.17	0.68	0.59	1.33	1.32	-5.10	-1.04	1.98	2.27	3.84	2.65
EBIT Less CapEx to Interest Expense	-0.37	0.09	-1.36	0.15	-0.01	-8.15	-2.03	1.20	1.66	0.80	0.50
NOPAT Less CapEx to Interest Expense	-4.55	-0.76	-1.62	-0.37	-0.74	-6.04	-1.58	0.73	1.08	1.81	-0.62
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-237.27%	372.81%	796.49%	86.31%	113.37%	-5.94%	-11.45%	38.68%	36.57%	23.81%	38.04%
Augmented Payout Ratio	-237.27%	372.81%	796.49%	86.31%	113.37%	-5.94%	-11.45%	38.68%	36.57%	23.81%	41.45%

This table displays calculated financial ratios and metrics derived from Live Nation Entertainment's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	234,801,922.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	234,801,922.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-1.66
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	32.52%	35.49%	21.49%	6.97%	-6.17%	-2.27%	-10.99%	16.32%	11.08%	11.12%	12.15%
EBITDA Growth	-3.58%	221.67%	-20.49%	17.00%	35.62%	-129.44%	47.58%	-2.30%	19.11%	170.90%	-154.44%
EBIT Growth	27.32%	39.15%	-64.06%	23.82%	2.74%	-176.68%	213.53%	-7.46%	19.46%	40.13%	-420.32%
NOPAT Growth	31.37%	24.70%	296.67%	11.88%	-6.44%	-149.64%	377.84%	-8.73%	-7.79%	40.42%	-422.19%
Net Income Growth	46.30%	-25.17%	-172.90%	13.55%	-11.31%	207.22%	208.42%	-19.53%	-7.31%	-148.34%	-920.74%
EPS Growth	38.85%	-19.30%	-112.00%	0.98%	-13.99%	142.65%	42.86%	-60.19%	-56.02%	-273.77%	-478.13%
Operating Cash Flow Growth	-44.12%	-32.90%	-14.45%	-16.07%	19.20%	71.80%	33.61%	-45.77%	86.73%	-105.14%	77.02%
Free Cash Flow Firm Growth	1,672.61%	-1,384.48%	-5,029.40%	-268.78%	385.20%	30.56%	86.53%	101.22%	230.05%	-6.83%	311.24%
Invested Capital Growth	31.50%	67.48%	187.96%	129.88%	15.61%	20.99%	16.05%	25.30%	-4.87%	27.81%	-35.84%
Revenue Q/Q Growth	44.82%	-28.71%	-34.93%	58.53%	27.02%	-25.74%	-40.47%	107.17%	21.30%	-25.72%	-39.92%
EBITDA Q/Q Growth	7.75%	-56.37%	224.78%	222.82%	24.90%	-109.47%	477.12%	119.03%	52.26%	-94.72%	-409.21%
EBIT Q/Q Growth	61.44%	-114.27%	154.94%	1,099.99%	33.96%	-138.44%	144.63%	302.69%	72.93%	-118.89%	-143.55%
NOPAT Q/Q Growth	75.29%	-111.39%	745.05%	4.38%	46.58%	-130.39%	147.07%	335.36%	48.09%	-119.24%	-159.73%
Net Income Q/Q Growth	75.47%	-143.54%	82.29%	1,267.79%	37.07%	-47.37%	-82.94%	553.84%	57.88%	-128.51%	-178.85%
EPS Q/Q Growth	89.22%	-170.47%	55.08%	294.34%	61.17%	-65.06%	-155.17%	228.13%	78.05%	-245.21%	-74.53%
Operating Cash Flow Q/Q Growth	-281.72%	168.18%	62.55%	-58.33%	-274.94%	244.97%	26.42%	-83.09%	-142.81%	43.84%	4,452.94%
Free Cash Flow Firm Q/Q Growth	-82.33%	-2,019.90%	53.31%	0.77%	150.80%	-374.75%	80.40%	104.46%	13,631.73%	-213.13%	130.46%
Invested Capital Q/Q Growth	293.96%	-24.58%	-36.64%	17.52%	98.14%	-21.07%	-36.85%	26.88%	50.44%	13.52%	-70.39%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	22.77%	19.63%	30.35%	26.82%	24.45%	20.91%	33.33%	25.63%	24.25%	23.02%	34.66%
EBITDA Margin	7.33%	4.49%	5.29%	10.78%	10.60%	-1.35%	8.57%	9.06%	11.37%	0.81%	-4.16%
Operating Margin	8.02%	-1.68%	-0.96%	7.73%	8.36%	-4.30%	3.39%	6.95%	9.32%	-2.26%	-9.77%
EBIT Margin	7.78%	-1.56%	1.07%	8.08%	8.52%	-4.41%	3.31%	6.43%	9.16%	-2.33%	-9.44%
Profit (Net Income) Margin	7.13%	-4.35%	-0.85%	6.25%	6.74%	4.78%	1.37%	4.32%	5.62%	-2.16%	-10.02%
Tax Burden Percent	92.04%	158.79%	-1,007.73%	82.44%	88.01%	-88.68%	70.14%	72.02%	65.49%	73.39%	92.21%
Interest Burden Percent	99.57%	176.07%	7.88%	93.80%	89.89%	122.18%	59.04%	93.36%	93.73%	126.27%	115.06%
Effective Tax Rate	7.96%	0.00%	1,107.73%	17.56%	11.99%	0.00%	29.86%	27.99%	34.51%	0.00%	0.00%
Return on Invested Capital (ROIC)	75.88%	-18.99%	289.50%	154.83%	67.92%	-35.71%	43.08%	77.07%	56.79%	-15.30%	-158.10%
ROIC Less NNEP Spread (ROIC-NNEP)	73.04%	-76.19%	407.95%	156.98%	61.16%	126.28%	49.60%	89.24%	50.71%	-20.33%	-139.92%
Return on Net Nonoperating Assets (RNNOA)	38.57%	-22.61%	-122.91%	-42.24%	23.35%	20.55%	-14.62%	-18.12%	17.38%	-7.82%	52.43%
Return on Equity (ROE)	114.45%	-41.60%	166.59%	112.59%	91.27%	-15.17%	28.47%	58.95%	74.17%	-23.11%	-105.68%
Cash Return on Invested Capital (CROIC)	17.23%	8.82%	-7.12%	-2.89%	13.22%	45.63%	103.15%	74.28%	57.95%	7.76%	76.76%
Operating Return on Assets (OROA)	9.45%	-1.99%	1.29%	9.53%	10.21%	-5.28%	3.59%	6.99%	10.56%	-2.76%	-10.10%
Return on Assets (ROA)	8.66%	-5.58%	-1.02%	7.37%	8.08%	5.72%	1.49%	4.70%	6.48%	-2.56%	-10.72%
Return on Common Equity (ROCE)	6.24%	8.03%	-42.77%	-9.68%	12.73%	-0.55%	-0.07%	4.83%	15.25%	-2.73%	1.00%
Return on Equity Simple (ROE_SIMPLE)	355.94%	0.00%	-572.93%	-1,624.33%	221.23%	0.00%	1,151.12%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	602	-69	368	384	563	-171	80	350	519	-100	-259
NOPAT Margin	7.38%	-1.18%	9.68%	6.38%	7.36%	-3.01%	2.38%	5.00%	6.11%	-1.58%	-6.84%
Net Nonoperating Expense Percent (NNEP)	2.84%	57.20%	-118.45%	-2.15%	6.76%	-161.99%	-6.52%	-12.16%	6.08%	5.03%	-18.18%
Return On Investment Capital (ROIC_SIMPLE)	-	-0.96%	-	-	-	-2.36%	1.12%	4.73%	6.12%	-1.10%	-2.88%
Cost of Revenue to Revenue	77.23%	80.37%	69.65%	73.18%	75.55%	79.09%	66.67%	74.37%	75.75%	76.98%	65.34%
SG&A Expenses to Revenue	13.17%	19.10%	27.84%	16.81%	14.36%	22.80%	25.58%	16.43%	13.16%	22.68%	40.12%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	14.75%	21.32%	31.31%	19.08%	16.09%	25.22%	29.93%	18.69%	14.93%	25.28%	44.43%
Earnings before Interest and Taxes (EBIT)	634	-91	41	487	652	-251	112	450	779	-147	-358
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	598	261	201	649	811	-77	290	634	966	51	-158
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	86.19	0.00	0.00	0.00	88.25	173.67	287.54	98.35	73.49	123.43	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	0.90	0.95	1.04	0.91	1.09	1.30	1.34	1.49	1.56	1.33	1.40
Price to Earnings (P/E)	31.38	38.71	46.87	41.40	55.94	33.57	31.29	38.52	42.61	67.44	428.01
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.19%	2.58%	2.13%	2.42%	1.79%	2.98%	3.20%	2.60%	2.35%	1.48%	0.23%
Enterprise Value to Invested Capital (EV/IC)	9.07	13.23	22.05	16.91	10.28	15.06	23.51	21.47	15.67	12.35	42.52
Enterprise Value to Revenue (EV/Rev)	1.00	1.03	1.09	0.97	1.19	1.39	1.40	1.55	1.64	1.43	1.44
Enterprise Value to EBITDA (EV/EBITDA)	14.84	14.02	19.04	16.03	16.83	20.31	18.90	22.10	22.20	18.60	24.64
Enterprise Value to EBIT (EV/EBIT)	21.11	22.27	26.74	21.95	26.01	34.68	31.58	37.97	36.86	30.25	50.87
Enterprise Value to NOPAT (EV/NOPAT)	23.17	27.96	36.46	31.06	39.80	25.52	21.40	24.69	28.85	43.05	100.42
Enterprise Value to Operating Cash Flow (EV/OCF)	12.80	17.15	21.30	20.54	21.47	18.66	15.42	19.67	16.18	25.88	15.26
Enterprise Value to Free Cash Flow (EV/FCFF)	59.78	187.94	0.00	0.00	83.40	36.15	24.48	32.15	26.37	178.46	43.30
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	3.88	4.67	4.28	3.99	3.20	3.31	3.04	2.81	3.71	4.51	5.94
Long-Term Debt to Equity	3.85	3.87	3.50	3.26	2.90	3.18	2.81	2.16	3.08	4.19	4.68
Financial Leverage	0.53	0.30	-0.30	-0.27	0.38	0.16	-0.29	-0.20	0.34	0.38	-0.37
Leverage Ratio	12.94	16.31	17.35	15.05	10.64	11.52	11.75	11.29	10.83	11.30	13.52
Compound Leverage Factor	12.89	28.72	1.37	14.12	9.57	14.07	6.94	10.54	10.15	14.27	15.55
Debt to Total Capital	79.50%	82.36%	81.06%	79.96%	76.20%	76.80%	75.24%	73.75%	78.78%	81.85%	85.58%
Short-Term Debt to Total Capital	0.61%	14.17%	14.82%	14.63%	7.09%	3.11%	5.63%	16.91%	13.39%	5.87%	18.11%
Long-Term Debt to Total Capital	78.89%	68.19%	66.24%	65.34%	69.11%	73.68%	69.60%	56.83%	65.39%	75.98%	67.47%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	17.82%	18.29%	20.43%	20.59%	20.29%	21.14%	23.52%	22.15%	15.64%	15.45%	15.82%
Common Equity to Total Capital	2.67%	-0.65%	-1.50%	-0.56%	3.51%	2.07%	1.24%	4.10%	5.58%	2.71%	-1.40%
Debt to EBITDA	4.61	3.96	4.62	4.32	3.78	4.06	3.82	3.89	4.05	4.22	5.70
Net Debt to EBITDA	0.45	0.21	-0.22	-0.13	0.46	0.21	-0.45	-0.36	0.33	0.57	-0.38
Long-Term Debt to EBITDA	4.58	3.27	3.77	3.53	3.43	3.90	3.53	3.00	3.36	3.92	4.49
Debt to NOPAT	7.20	7.89	8.84	8.36	8.94	5.10	4.32	4.35	5.26	9.78	23.21
Net Debt to NOPAT	0.70	0.42	-0.41	-0.26	1.08	0.26	-0.51	-0.40	0.42	1.32	-1.55
Long-Term Debt to NOPAT	7.15	6.53	7.23	6.83	8.11	4.90	4.00	3.35	4.36	9.08	18.30
Altman Z-Score	1.79	1.70	1.74	1.73	2.03	2.03	1.86	1.95	2.18	1.96	1.65
Noncontrolling Interest Sharing Ratio	94.55%	119.30%	125.67%	108.60%	86.05%	96.40%	100.25%	91.80%	79.43%	88.20%	100.94%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.14	0.95	0.92	0.92	1.01	0.99	0.96	0.88	0.92	1.00	0.88
Quick Ratio	0.97	0.83	0.78	0.76	0.85	0.84	0.78	0.71	0.76	0.83	0.72
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	41	-780	-391	-388	197	-542	-106	4.74	651	-736	224
Operating Cash Flow to CapEx	-871.73%	454.94%	737.67%	206.42%	-456.09%	597.61%	773.61%	84.84%	-34.72%	-15.28%	756.96%
Free Cash Flow to Firm to Interest Expense	0.47	-7.01	-4.85	-4.85	2.24	-6.78	-1.32	0.07	8.11	-8.75	2.48
Operating Cash Flow to Interest Expense	-10.35	5.46	12.26	5.15	-8.20	13.08	16.45	3.10	-1.19	-0.64	25.84
Operating Cash Flow Less CapEx to Interest Expense	-11.54	4.26	10.59	2.66	-9.99	10.89	14.32	-0.55	-4.62	-4.82	22.42
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.21	1.28	1.20	1.18	1.20	1.20	1.09	1.09	1.15	1.18	1.07
Accounts Receivable Turnover	9.44	13.02	11.90	10.94	8.97	12.28	11.01	9.63	9.27	13.42	13.42
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	13.89	12.66	11.70	11.51	10.76	10.19	9.47	9.15	8.94	8.60	8.06
Accounts Payable Turnover	8.36	8.40	8.66	8.87	7.99	8.18	7.68	7.66	7.14	9.87	8.52
Days Sales Outstanding (DSO)	38.67	28.03	30.68	33.36	40.69	29.73	33.15	37.92	39.37	27.20	27.19
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	43.64	43.43	42.14	41.13	45.70	44.62	47.54	47.64	51.10	36.97	42.86
Cash Conversion Cycle (CCC)	-4.97	-15.41	-11.46	-7.77	-5.02	-14.90	-14.39	-9.72	-11.73	-9.77	-15.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	2,342	1,766	1,163	1,367	2,708	2,137	1,350	1,712	2,576	2,924	866
Invested Capital Turnover	10.29	16.11	29.90	24.29	9.23	11.86	18.10	15.41	9.30	9.67	23.12
Increase / (Decrease) in Invested Capital	561	712	759	772	366	371	187	346	-132	636	-484
Enterprise Value (EV)	21,232	23,377	25,639	23,105	27,834	32,194	31,721	36,765	40,367	36,104	36,815
Market Capitalization	19,112	21,558	24,362	21,695	25,414	30,090	30,478	35,413	38,313	33,451	35,810
Book Value per Share	$0.96	($0.23)	($0.50)	($0.19)	$1.24	$0.75	$0.45	$1.54	$2.22	$1.15	($0.59)
Tangible Book Value per Share	($17.08)	($18.59)	($18.98)	($18.07)	($16.42)	($16.41)	($17.16)	($16.75)	($16.01)	($17.32)	($19.22)
Total Capital	8,297	8,005	7,672	7,776	8,209	8,383	8,518	8,782	9,339	10,018	9,944
Total Debt	6,597	6,593	6,219	6,218	6,255	6,438	6,408	6,476	7,358	8,200	8,510
Total Long-Term Debt	6,546	5,459	5,082	5,081	5,673	6,177	5,929	4,991	6,107	7,612	6,709
Net Debt	641	354	-290	-191	754	332	-760	-593	594	1,105	-568
Capital Expenditures (CapEx)	102	134	134	200	158	175	171	263	276	352	309
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-4,650	-5,556	-6,273	-6,215	-4,824	-5,913	-7,137	-7,220	-6,480	-6,561	-9,052
Debt-free Net Working Capital (DFNWC)	1,306	683	237	194	677	193	31	-150	283	533	26
Net Working Capital (NWC)	1,255	-451	-901	-943	95	-68	-448	-1,635	-968	-54	-1,775
Net Nonoperating Expense (NNE)	20	185	400	7.77	47	-442	34	48	41	36	121
Net Nonoperating Obligations (NNO)	641	354	-290	-191	754	192	-760	-593	594	1,105	-568
Total Depreciation and Amortization (D&A)	-36	351	161	163	159	174	178	184	187	198	200
Debt-free, Cash-free Net Working Capital to Revenue	-21.93%	-24.45%	-26.78%	-26.10%	-20.70%	-25.54%	-31.39%	-30.44%	-26.37%	-26.03%	-35.34%
Debt-free Net Working Capital to Revenue	6.16%	3.01%	1.01%	0.82%	2.90%	0.83%	0.14%	-0.63%	1.15%	2.12%	0.10%
Net Working Capital to Revenue	5.92%	-1.98%	-3.85%	-3.96%	0.41%	-0.29%	-1.97%	-6.89%	-3.94%	-0.22%	-6.93%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.85	($1.45)	($0.53)	$1.05	$1.72	$0.53	($0.32)	$0.41	$0.74	($1.07)	($1.85)
Adjusted Weighted Average Basic Shares Outstanding	228.79M	228.63M	229.47M	229.92M	230.37M	230.12M	231.22M	231.85M	232.04M	231.84M	232.40M
Adjusted Diluted Earnings per Share	$1.78	($1.36)	($0.53)	$1.03	$1.66	$0.58	($0.32)	$0.41	$0.73	($1.06)	($1.85)
Adjusted Weighted Average Diluted Shares Outstanding	244.16M	230.98M	229.47M	245.00M	245.32M	236.35M	231.22M	234.42M	234.75M	231.84M	232.40M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	230.33M	230.80M	231.44M	232.11M	232.35M	233.40M	234.09M	234.47M	234.74M	234.80M	235.55M
Normalized Net Operating Profit after Tax (NOPAT)	600	-73	-26	383	559	-175	79	350	509	-100	-264
Normalized NOPAT Margin	7.36%	-1.25%	-0.68%	6.36%	7.31%	-3.08%	2.33%	4.99%	5.99%	-1.59%	-6.95%
Pre Tax Income Margin	7.75%	-2.74%	0.08%	7.58%	7.66%	-5.39%	1.95%	6.00%	8.59%	-2.94%	-10.86%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	7.36	-0.81	0.50	6.08	7.41	-3.13	1.39	6.25	9.70	-1.75	-3.96
NOPAT to Interest Expense	6.98	-0.62	4.56	4.80	6.40	-2.14	1.00	4.86	6.46	-1.19	-2.87
EBIT Less CapEx to Interest Expense	6.17	-2.01	-1.16	3.59	5.61	-5.32	-0.73	2.59	6.27	-5.93	-7.37
NOPAT Less CapEx to Interest Expense	5.79	-1.82	2.90	2.31	4.60	-4.33	-1.12	1.21	3.03	-5.37	-6.28
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	23.48%	36.57%	41.41%	43.06%	48.87%	23.81%	18.99%	22.35%	23.06%	38.04%	101.10%
Augmented Payout Ratio	23.48%	36.57%	41.41%	43.06%	48.87%	23.81%	18.99%	22.35%	23.06%	41.45%	101.10%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Live Nation Entertainment (NYSE: LYV) based on the latest four years of quarterly statements provided. The bullets focus on notable trends in revenue, profitability, cash flow, liquidity, and leverage. Items are sorted with positive indicators first, then neutral, then negative indicators.

Q4 2025 Revenue Growth: Operating Revenue rose to $6,313,505,000, up from $5,681,593,000 in Q4 2024 (about an 11% year‑over‑year increase).
Profitability signal in Q3 2025: Consolidated net income was $477,978,000 and net income attributable to common shareholders was $431,458,000, indicating a positive quarterly profit to shareholders in that period.
Liquidity and financing flexibility: Cash & equivalents around $6.75B as of Q3 2025, and Q4 2025 shows a net financing inflow of about $729.3M, aided by a substantial debt issuance of about $2.77B in that quarter.
Gross margin stable in the low‑to‑mid 20s: Q4 2025 gross profit of $1,453,542,000 on revenue of $6,313,505,000 implies a gross margin near 23%, in line with recent quarters.
Asset base expansion: Total assets rose to roughly $22.9B by Q3 2025, up from around $19.6B at the end of 2024, signaling ongoing capital deployment and growth in asset bases.
Investing activity as expected: Capital expenditures and acquisitions contributed to cash outflows (PPE around $351.9M in Q4 2025; acquisitions around $29.27M), with net cash from continuing investing activities around -$393.7M in that quarter.
Quarterly net income weakness: Q4 2025 consolidated net income was negative, at about -$136.3M, with net income attributable to common shareholders around -$202.1M.
Operating cash flow under pressure: Q4 2025 net cash from continuing operating activities was -$53.7M, indicating cash generation challenges in that quarter despite higher revenue.
Leverage risk: Long‑term debt around $6.11B, total liabilities near $20.9B, and a relatively modest equity base, suggesting a high‑leverage balance sheet.

05/24/26 06:31 PM ETAI Generated. May Contain Errors.

Live Nation Entertainment Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Live Nation Entertainment's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Live Nation Entertainment's net income appears to be on an upward trend, with a most recent value of $690.74 million in 2025, falling from -$15.77 million in 2015. The previous period was $1.13 billion in 2024. See where experts think Live Nation Entertainment is headed by visiting Live Nation Entertainment's forecast page.

Live Nation Entertainment's total operating income in 2025 was $1.25 billion, based on the following breakdown:

Total Gross Profit: $6.44 billion
Total Operating Expenses: $5.19 billion

Over the last 10 years, Live Nation Entertainment's total revenue changed from $7.25 billion in 2015 to $25.20 billion in 2025, a change of 247.8%.

Live Nation Entertainment's total liabilities were at $21.09 billion at the end of 2025, a 19.2% increase from 2024, and a 374.5% increase since 2015.

In the past 10 years, Live Nation Entertainment's cash and equivalents has ranged from $1.30 billion in 2015 to $7.09 billion in 2025, and is currently $7.09 billion as of their latest financial filing in 2025.

Over the last 10 years, Live Nation Entertainment's book value per share changed from 6.11 in 2015 to 1.15 in 2025, a change of -81.1%.

Related Companies

Financial statements for NYSE:LYV last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Live Nation Entertainment (LYV) Financials

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Live Nation Entertainment (LYV) Financials

Annual Income Statements for Live Nation Entertainment

Quarterly Income Statements for Live Nation Entertainment

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Quarterly Cash Flow Statements for Live Nation Entertainment

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Quarterly Balance Sheets for Live Nation Entertainment

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Quarterly Metrics And Ratios for Live Nation Entertainment

Financials Breakdown Chart

Key Financial Trends

Live Nation Entertainment Financials - Frequently Asked Questions

When does Live Nation Entertainment's financial year end?

How has Live Nation Entertainment's net income changed over the last 10 years?

What is Live Nation Entertainment's operating income?

How has Live Nation Entertainment's revenue changed over the last 10 years?

How much debt does Live Nation Entertainment have?

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How has Live Nation Entertainment's book value per share changed over the last 10 years?

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