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Live Nation Entertainment Inc LYV

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Stock XNYS Rating as of
$96.56 −0.17 (0.18%)
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As of Cboe BZX Real-Time Price Open
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Company Report

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Live Nation Is Well Positioned Despite the Looming Antitrust Lawsuit

Matthew Dolgin

Live Nation is highly focused on live entertainment at venues ranging from intimate clubs to large stadiums. The firm controls over 338 concert venues that hosted over 50,000 events and 145 million fans in 2023. Ticketmaster, the firm’s ticketing platform, sold over 620 million tickets for over 10,000 clients in 2023. The firm is facing an antitrust lawsuit that seeks to break up the company's ticketing and concert promotions businesses, but we don't expect the outcome to have a material impact on operations or valuation.

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Price vs Fair Value

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LYV is trading at a 428% premium.
Price
$96.70
Fair Value
$477.00
Uncertainty
High
1-Star Price
$341.49
5-Star Price
$95.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Ticketmaster holds a dominant position in the ticketing space that it reinforces with relatively high levels reinvestment in technology.

Bears

The concerts business is dependent on artists who now generate more income from concerts than recording. As a result, artists have even more impetus to push back on pricing, limiting margin expansion.

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News

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Trading Information

Previous Close Price
$96.73
Day Range
$96.02–96.56
52-Week Range
$76.48–107.16
Bid/Ask
$96.37 / $96.81
Market Cap
$22.35 Bil
Volume/Avg
1,356 / 2.3 Mil

Key Statistics

Price/Earnings (Normalized)
49.09
Price/Sales
0.95
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

Live Nation is the largest live entertainment firm in the world, operating in 49 countries at the end of 2023 through its concert and ticketing platforms. Via either owning, operating, or holding exclusive booking rights, Live Nation controls or influences 373 venues, including the House of Blues. Live Nation also owns one of the largest ticketing services, Ticketmaster, which sold over 620 million tickets for over 10,000 clients in 2023. Live Nation also includes an artist management agency. This large live entertainment footprint helped Live Nation become one of the largest advertising and sponsorship platforms aimed at music fans.
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)
 49.099.3322.89
Price/Book Value
 —1.821.80
Price/Sales
 0.951.282.02
Price/Cash Flow
 16.585.6612.96
Price/Earnings
LYV
CMCSA
DIS

Financial Strength

Metric
LYV
CMCSA
DIS
Quick Ratio
 0.780.490.57
Current Ratio
 0.920.590.75
Interest Coverage
 2.725.992.64
Quick Ratio
LYV
CMCSA
DIS

Profitability

Metric
LYV
CMCSA
DIS
Return on Assets (Normalized)
 3.26%6.32%4.53%
Return on Equity (Normalized)
 —19.98%9.22%
Return on Invested Capital (Normalized)
 7.39%10.60%6.24%
Return on Assets
LYV
CMCSA
DIS
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