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Live Nation Entertainment Inc Financials

LYV
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Live Nation Entertainment Inc (LYV) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 37 / 100
Financial Profile 37/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
33

Live Nation Entertainment Inc has an operating margin of 5.0%, meaning the company retains $5 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from 3.6% the prior year.

Growth
48

Live Nation Entertainment Inc's revenue grew 8.8% year-over-year to $25.2B, a solid pace of expansion. This earns a growth score of 48/100.

Leverage
0

Live Nation Entertainment Inc has elevated debt relative to equity (D/E of 28.09), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity
15

Live Nation Entertainment Inc's current ratio of 1.00 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 15/100, which could limit financial flexibility.

Cash Flow
28

While Live Nation Entertainment Inc generated $1.4B in operating cash flow, capex of $1.1B consumed most of it, leaving $333.6M in free cash flow. This results in a low score of 28/100, reflecting heavy capital investment rather than weak cash generation.

Returns
100

Live Nation Entertainment Inc earns a strong 183.0% return on equity (ROE), meaning it generates $183 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100. This is down from 517.3% the prior year.

Altman Z-Score Grey Zone
2.23

Live Nation Entertainment Inc scores 2.23, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.

Piotroski F-Score Neutral
4/9

Live Nation Entertainment Inc passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Cash-Backed
2.81x

For every $1 of reported earnings, Live Nation Entertainment Inc generates $2.81 in operating cash flow ($1.4B OCF vs $496.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage Adequate
4.0x

Live Nation Entertainment Inc earns $4.0 in operating income for every $1 of interest expense ($1.3B vs $316.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.

Key Financial Metrics

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Earnings & Revenue

Revenue
$25.2B
YoY+8.8%
5Y CAGR+68.4%
10Y CAGR+13.3%

Live Nation Entertainment Inc generated $25.2B in revenue in fiscal year 2025. This represents an increase of 8.8% from the prior year.

EBITDA
$1.9B
YoY+37.5%
10Y CAGR+13.6%

Live Nation Entertainment Inc's EBITDA was $1.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 37.5% from the prior year.

Net Income
$496.0M
YoY-44.7%

Live Nation Entertainment Inc reported $496.0M in net income in fiscal year 2025. This represents a decrease of 44.7% from the prior year.

EPS (Diluted)
$-0.24
YoY-108.8%

Live Nation Entertainment Inc earned $-0.24 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 108.8% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$333.6M
YoY-69.1%
10Y CAGR+7.3%

Live Nation Entertainment Inc generated $333.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 69.1% from the prior year.

Cash & Debt
$7.1B
YoY+16.4%
5Y CAGR+22.8%
10Y CAGR+18.5%

Live Nation Entertainment Inc held $7.1B in cash against $7.6B in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
235M
YoY+0.6%
5Y CAGR+1.5%
10Y CAGR+1.5%

Live Nation Entertainment Inc had 235M shares outstanding in fiscal year 2025. This represents an increase of 0.6% from the prior year.

Margins & Returns

Gross Margin
N/A
Operating Margin
5.0%
YoY+1.4pp
5Y CAGR+93.8pp
10Y CAGR+3.1pp

Live Nation Entertainment Inc's operating margin was 5.0% in fiscal year 2025, reflecting core business profitability. This is up 1.4 percentage points from the prior year.

Net Margin
2.0%
YoY-1.9pp
5Y CAGR+94.6pp
10Y CAGR+2.4pp

Live Nation Entertainment Inc's net profit margin was 2.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 1.9 percentage points from the prior year.

Return on Equity
183.0%
YoY-334.3pp
10Y CAGR+185.6pp

Live Nation Entertainment Inc's ROE was 183.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 334.3 percentage points from the prior year.

Capital Allocation

R&D Spending
N/A
Share Buybacks
$23.5M

Live Nation Entertainment Inc spent $23.5M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Capital Expenditures
$1.1B
YoY+64.2%
5Y CAGR+37.8%
10Y CAGR+22.2%

Live Nation Entertainment Inc invested $1.1B in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 64.2% from the prior year.

LYV Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $6.3B-25.7% $8.5B+21.3% $7.0B+107.2% $3.4B-40.5% $5.7B-25.7% $7.7B+27.0% $6.0B+58.5% $3.8B
Cost of Revenue N/A N/A N/A N/A N/A N/A N/A N/A
Gross Profit N/A N/A N/A N/A N/A N/A N/A N/A
R&D Expenses N/A N/A N/A N/A N/A N/A N/A N/A
SG&A Expenses $1.3B+29.1% $1.0B+0.5% $1.0B+28.8% $778.9M-31.1% $1.1B+12.4% $1.0B+8.6% $926.2M-5.6% $981.6M
Operating Income -$142.7M-118.0% $792.5M+62.8% $486.7M+324.0% $114.8M+147.9% -$239.4M-137.4% $639.5M+37.3% $465.8M+1225.4% -$41.4M
Interest Expense $83.4M+3.8% $80.3M+11.4% $72.0M-10.3% $80.3M+3.9% $77.4M-12.1% $88.0M+10.0% $80.0M-0.9% $80.7M
Income Tax -$49.4M-119.6% $251.8M+114.1% $117.6M+496.8% $19.7M+103.4% -$583.1M-930.3% $70.2M-12.4% $80.2M+95.4% $41.0M
Net Income -$202.1M-146.8% $431.5M+77.3% $243.4M+949.0% $23.2M-88.5% $201.0M-55.5% $451.8M+51.6% $298.0M+647.0% -$54.5M
EPS (Diluted) N/A $0.73+78.0% $0.41+228.1% $-0.32 N/A $1.66+61.2% $1.03+283.9% $-0.56

LYV Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $22.9B+0.1% $22.9B-1.1% $23.2B+6.1% $21.8B+11.1% $19.6B-0.5% $19.7B-3.5% $20.5B+2.1% $20.0B
Current Assets $11.0B-2.9% $11.3B-4.4% $11.8B+6.8% $11.1B+19.1% $9.3B-5.0% $9.8B-8.5% $10.7B+2.5% $10.4B
Cash & Equivalents $7.1B+5.1% $6.8B-4.3% $7.1B-1.4% $7.2B+17.4% $6.1B+11.0% $5.5B-14.2% $6.4B-1.6% $6.5B
Inventory $56.6M N/A N/A N/A $50.1M N/A N/A N/A
Accounts Receivable $2.0B-22.9% $2.6B+5.8% $2.5B+33.2% $1.9B+5.9% $1.7B-35.1% $2.7B+9.3% $2.5B+8.1% $2.3B
Goodwill $2.9B+1.7% $2.8B+0.7% $2.8B+4.4% $2.7B+3.1% $2.6B-1.8% $2.7B+0.2% $2.7B-1.3% $2.7B
Total Liabilities $22.6B+1.2% $22.4B-1.9% $22.8B+4.9% $21.7B+11.6% $19.5B0.0% $19.5B-5.1% $20.5B+1.7% $20.1B
Current Liabilities $11.0B-10.2% $12.3B-8.8% $13.5B+16.9% $11.5B+23.1% $9.4B-3.3% $9.7B-16.7% $11.6B+2.6% $11.3B
Long-Term Debt $7.6B+24.7% $6.1B+22.4% $5.0B-15.8% $5.9B-4.0% $6.2B+8.9% $5.7B+11.7% $5.1B0.0% $5.1B
Total Equity $271.0M-48.0% $521.3M+44.8% $360.1M+239.7% $106.0M-38.8% $173.3M-39.8% $288.0M+765.6% -$43.3M+62.3% -$114.8M
Retained Earnings -$1.0B-24.1% -$839.9M+33.9% -$1.3B+16.1% -$1.5B+2.1% -$1.5B+11.5% -$1.7B+19.0% -$2.2B+12.1% -$2.5B

LYV Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow -$53.7M+43.8% -$95.7M-142.8% $223.5M-83.1% $1.3B+26.4% $1.0B+245.0% -$720.9M-274.9% $412.1M-58.3% $988.9M
Capital Expenditures $351.9M+27.7% $275.6M+4.6% $263.4M+54.2% $170.8M+10.3% $154.9M-2.0% $158.1M-20.8% $199.6M+48.9% $134.1M
Free Cash Flow -$405.6M-9.3% -$371.3M-829.4% -$39.9M-103.5% $1.2B+29.2% $890.2M+201.3% -$879.0M-513.7% $212.4M-75.1% $854.8M
Investing Cash Flow -$393.7M-15.7% -$340.3M-23.7% -$275.0M-26.5% -$217.4M-2.8% -$211.5M-1.5% -$208.4M+21.0% -$263.7M-54.5% -$170.7M
Financing Cash Flow $729.3M+315.1% $175.7M+154.0% -$325.3M-87.8% -$173.2M-610.7% $33.9M+168.5% -$49.5M+69.9% -$164.6M+65.6% -$478.4M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

LYV Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin N/A N/A N/A N/A N/A N/A N/A N/A
Operating Margin -2.3%-11.6pp 9.3%+2.4pp 7.0%+3.6pp 3.4%+7.6pp -4.2%-12.6pp 8.4%+0.6pp 7.7%+8.8pp -1.1%
Net Margin -3.2%-8.3pp 5.1%+1.6pp 3.5%+2.8pp 0.7%-2.9pp 3.5%-2.4pp 5.9%+1.0pp 5.0%+6.4pp -1.4%
Return on Equity -74.6%-157.3pp 82.8%+15.2pp 67.6%+45.7pp 21.9%-94.1pp 116.0%-40.9pp 156.9% N/A N/A
Return on Assets -0.9%-2.8pp 1.9%+0.8pp 1.1%+0.9pp 0.1%-0.9pp 1.0%-1.3pp 2.3%+0.8pp 1.5%+1.7pp -0.3%
Current Ratio 1.00+0.1 0.92+0.0 0.88-0.1 0.96-0.0 0.99-0.0 1.01+0.1 0.920.0 0.92
Debt-to-Equity 28.09+16.4 11.71-2.1 13.86-42.1 55.93+20.3 35.65+16.0 19.70+137.1 -117.43-73.2 -44.26
FCF Margin -6.4%-2.0pp -4.4%-3.8pp -0.6%-34.6pp 34.0%+18.4pp 15.7%+27.2pp -11.5%-15.0pp 3.5%-19.0pp 22.5%

Note: The current ratio is below 1.0 (1.00), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Live Nation Entertainment Inc (LYV) reported $25.2B in total revenue for fiscal year 2025. This represents a 8.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Live Nation Entertainment Inc (LYV) revenue grew by 8.8% year-over-year, from $23.2B to $25.2B in fiscal year 2025.

Yes, Live Nation Entertainment Inc (LYV) reported a net income of $496.0M in fiscal year 2025, with a net profit margin of 2.0%.

Live Nation Entertainment Inc (LYV) reported diluted earnings per share of $-0.24 for fiscal year 2025. This represents a -108.8% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Live Nation Entertainment Inc (LYV) had EBITDA of $1.9B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Live Nation Entertainment Inc (LYV) had $7.1B in cash and equivalents against $7.6B in long-term debt.

Live Nation Entertainment Inc (LYV) had an operating margin of 5.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Live Nation Entertainment Inc (LYV) had a net profit margin of 2.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Live Nation Entertainment Inc (LYV) has a return on equity of 183.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Live Nation Entertainment Inc (LYV) generated $333.6M in free cash flow during fiscal year 2025. This represents a -69.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Live Nation Entertainment Inc (LYV) generated $1.4B in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Live Nation Entertainment Inc (LYV) had $22.9B in total assets as of fiscal year 2025, including both current and long-term assets.

Live Nation Entertainment Inc (LYV) invested $1.1B in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Yes, Live Nation Entertainment Inc (LYV) spent $23.5M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Live Nation Entertainment Inc (LYV) had 235M shares outstanding as of fiscal year 2025.

Live Nation Entertainment Inc (LYV) had a current ratio of 1.00 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

Live Nation Entertainment Inc (LYV) had a debt-to-equity ratio of 28.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Live Nation Entertainment Inc (LYV) had a return on assets of 2.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Live Nation Entertainment Inc (LYV) has an Altman Z-Score of 2.23, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Live Nation Entertainment Inc (LYV) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Live Nation Entertainment Inc (LYV) has an earnings quality ratio of 2.81x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Live Nation Entertainment Inc (LYV) has an interest coverage ratio of 4.0x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Live Nation Entertainment Inc (LYV) scores 37 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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