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Live Nation Entertainment, Inc.

LYV

Services-Amusement & Recreation Services

Mkt Cap

$20.48B

PE

58.60

Debt

$6.703B

Cash

$5.955B

EV

$21.23B

FCF

$1.22B

Market Cap

$20.48B

P/E Ratio

58.60

Debt

$6.703B

Cash

$5.955B

EV

$21.23B

FCF

$1.22B
Charts data: {"Earnings":[{"time":"2014-12-30","value":-104450000},{"time":"2015-12-30","value":-65687000},{"time":"2016-12-30","value":-47010000},{"time":"2017-12-30","value":-97646000},{"time":"2018-12-30","value":-17651000},{"time":"2019-12-30","value":-4882000},{"time":"2020-12-30","value":-1827790000},{"time":"2021-12-30","value":-670675000},{"time":"2022-12-30","value":149216000}],"Sales":[{"time":"2014-12-30","value":6866964000},{"time":"2015-12-30","value":7245731000},{"time":"2016-12-30","value":8354934000},{"time":"2017-12-30","value":10337448000},{"time":"2018-12-30","value":10787800000},{"time":"2019-12-30","value":11547969000},{"time":"2020-12-30","value":1861178000},{"time":"2021-12-30","value":6268447000},{"time":"2022-12-30","value":16681254000}],"Net Margins":[{"time":"2014-12-30","value":-0.01521050641884827},{"time":"2015-12-30","value":-0.009065613945646063},{"time":"2016-12-30","value":-0.0056266153628502635},{"time":"2017-12-30","value":-0.009445851626049292},{"time":"2018-12-30","value":-0.0016362001520235823},{"time":"2019-12-30","value":-0.0004227583222642873},{"time":"2020-12-30","value":-0.9820608238438236},{"time":"2021-12-30","value":-0.10699221035130392},{"time":"2022-12-30","value":0.008945130863662889}],"Assets":[{"time":"2014-12-30","value":5988361000},{"time":"2015-12-30","value":6156241000},{"time":"2016-12-30","value":6764266000},{"time":"2017-12-30","value":7504263000},{"time":"2018-12-30","value":8496886000},{"time":"2019-12-30","value":10975615000},{"time":"2020-12-30","value":10589303000},{"time":"2021-12-30","value":14402318000},{"time":"2022-12-30","value":16460841000}],"Stockholders Equity":[{"time":"2014-12-30","value":1483847000},{"time":"2015-12-30","value":1446919000},{"time":"2016-12-30","value":1349516000},{"time":"2017-12-30","value":1418144000},{"time":"2018-12-30","value":1342743000},{"time":"2019-12-30","value":1463954000},{"time":"2020-12-30","value":-133752000},{"time":"2021-12-30","value":-188454000},{"time":"2022-12-30","value":93797000}],"ROE":[{"time":"2014-12-30","value":-0.07039135436470202},{"time":"2015-12-30","value":-0.04539784189716218},{"time":"2016-12-30","value":-0.034834711111242846},{"time":"2017-12-30","value":-0.0688547848455446},{"time":"2018-12-30","value":-0.013145479067848426},{"time":"2019-12-30","value":-0.0033348042356522133},{"time":"2020-12-30","value":13.665515282014475},{"time":"2021-12-30","value":3.5588260265104483},{"time":"2022-12-30","value":1.5908397923174515}],"ROA":[{"time":"2014-12-30","value":0.0011963206626988587},{"time":"2015-12-30","value":0.021339645410243035},{"time":"2016-12-30","value":0.028819091384046695},{"time":"2017-12-30","value":0.012179343927578232},{"time":"2018-12-30","value":0.03207480952433633},{"time":"2019-12-30","value":0.029596883637044484},{"time":"2020-12-30","value":-0.15611905712774485},{"time":"2021-12-30","value":-0.02901324633992945},{"time":"2022-12-30","value":0.04447634236914141}]}

Live Nation Entertainment, Inc. operates as a live entertainment company. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists. The Ticketing segment manages the ticketing operations, including the provision of ticketing software and services to clients for tickets and event information through its primary websites livenation.com and ticketmaster.com, as well as through other websites, mobile apps, retail outlets, and call centers; and provides ticket resale services. This segment sells tickets for its events and third-party clients in various live event categories; offers ticketing services for arenas, stadiums, amphitheaters, music clubs, concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. The Sponsorship & Advertising segment sells international, national, and local sponsorships and placement of advertising, including signage and promotional programs; rich media offering that comprise advertising related with live streaming and music-related content; and ads across its distribution network of venues, events, and websites. This segment also manages the development of strategic sponsorship programs, as well as develops, books, and produces custom events or programs for specific brands. It owns, operates, or leases entertainment venues in North America and internationally. The company was formerly known as Live Nation, Inc. and changed its name to Live Nation Entertainment, Inc. in January 2010. Live Nation Entertainment, Inc. was incorporated in 2005 and is headquartered in Beverly Hills, California.

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Growth

%

%

Discount

%

%

Multiple

g\r+10%+11%+12%+13%+14%
0%109887
+1%1110988
+2%13111098
+3%141311109
+4%1714121110
Years012345678910TV
FCF$1.22B$1.586B$2.018B$2.511B$3.055B$3.632B$4.217B$4.78B$5.284B$5.695B$5.98B$59.8B
DCF$1.379B$1.526B$1.651B$1.747B$1.806B$1.823B$1.797B$1.727B$1.619B$1.478B$14.78B
Value$31.34B

In the chart Earnings are multiplied by this value.

Earnings Growth 110%
Earnings Stability -11%


Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years12-201412-201512-201612-201712-201812-201912-202012-202112-2022TTM
Net Margin-1.5%-0.91%-0.56%-0.94%-0.16%-0.042%-98%-11%0.89%1.6%
ROA0.12%2.1%2.9%1.2%3.2%3%-16%-2.9%4.4%5.4%
ROE-7%-4.5%-3.5%-6.9%-1.3%-0.33%1.4K%360%160%40%

What is the average Net Margin?

The average Net Margin over the past 5 years is -18.19%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -3.45%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is -1.11%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -0.59%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is +312.16%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is +93.38%.


Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years12-201412-201512-201612-201712-201812-201912-202012-202112-2022TTM
Debt FCF-13.465.716.984.2623.53-3.933.944.435.49
Debt Equity1.441.471.791.892.232.35-38.07-34.0470.107.75
MIN
Graham Stability----------

What is the Debt/FCF?

The Debt/FCF trailing twelve month is 5.49.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -1.18.

What is the Graham’s Stability?

Graham’s Stability measure stands at -.


Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years12-201512-201712-201912-2021Trend
Revenue13%10%13%170%23%
Net Income-----
Stockholders Equity-32%-42%-60%-2.4%
FCF38%31%120%-8.8%-15%

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +10.04%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +22.76%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is -41.91%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is +2.44%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +31.02%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -15.49%.