Morningstar

Live Nation Entertainment Inc LYV

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Stock XNYS Rating as of
$108.74 +0.59 (0.55%)
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As of Delayed Price Closed

Company Report

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Secular Tailwinds and Industry Leadership Should Continue Underpinning Growth for Live Nation

Matthew Dolgin

Live Nation is the world’s largest live entertainment company, with its multiple business lines serving virtually all major components associated with holding live events. With younger adults continuing to prioritize live experiences, music streaming services increasing the exposure and popularity of artists across countries, and artists emphasizing touring, Live Nation is not short on growth opportunities. We believe the firm’s vertical integration and global footprint make it better able to capitalize on the opportunities than smaller competitors that don’t offer a full menu of services.

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Price vs Fair Value

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LYV is trading at a 150% premium.
Price
$108.74
Fair Value
$493.00
Uncertainty
High
1-Star Price
$936.23
5-Star Price
$89.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Younger adults’ predilection toward live events and experiences should keep demand for concerts high, and Live Nation’s dominance among promoters should lead it to reap the bulk of the benefit.

Bears

Ticketmaster benefits from being part of Live Nation. If the US Department of Justice is successful in its bid to force a divestiture, the collective business will suffer.

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News

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Trading Information

Previous Close Price
$108.15
Day Range
$107.14–109.24
52-Week Range
$76.48–109.24
Bid/Ask
$106.84 / $109.77
Market Cap
$25.24 Bil
Volume/Avg
1.9 Mil / 1.9 Mil

Key Statistics

Price/Earnings (Normalized)
55.68
Price/Sales
1.06
Dividend Yield (Trailing)
0.00%
Dividend Yield (Forward)
0.00%
Total Yield
—

Company Profile

Live Nation is the largest live entertainment company in the world, serving as a concert promoter, venue operator, and ticketing platform. In addition, the firm generates revenue from sponsorships and advertising. With offices in 45 countries, Live Nation promotes concerts globally and it owns, operates, or had exclusive booking rights to 373 venues worldwide at the end of 2023, which the firm says makes it the second-largest operator of music venues globally. In 2023, Live Nation promoted more than 50,000 events, drawing more than 145 million fans. Ticketmaster is a dominant global ticketing service, selling more than 620 million tickets in 2023.
Sector
Communication Services
Industry
Entertainment
Stock Style Box
Mid Growth
Total Number of Employees
14,700
Website
https://www.livenationentertainment.com

Competitors

Valuation

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Metric
LYV
CMCSA
DIS
Price/Earnings (Normalized)
 55.689.9920.69
Price/Book Value
 —1.941.73
Price/Sales
 1.061.381.96
Price/Cash Flow
 18.986.0411.37
Price/Earnings
LYV
CMCSA
DIS

Financial Strength

Metric
LYV
CMCSA
DIS
Quick Ratio
 0.760.540.53
Current Ratio
 0.920.660.72
Interest Coverage
 3.015.824.32
Quick Ratio
LYV
CMCSA
DIS

Profitability

Metric
LYV
CMCSA
DIS
Return on Assets (Normalized)
 3.53%6.39%4.84%
Return on Equity (Normalized)
 —20.23%9.74%
Return on Invested Capital (Normalized)
 8.03%10.84%6.82%
Return on Assets
LYV
CMCSA
DIS

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