Communication Services · Movies & Entertainment · US stock · price as of 16 Oct 2026
Key indicators
Price
$170.51
52-week range
$125.34 – $189.25
Market cap
$41.6B
P/E (trailing)
298.4×
EV / EBITDA
28.0×
Free-cash-flow yield
3.3%
Dividend yield
–
Revenue (last 12 months)
$26.3B
Revenue growth (3y a year)
14.7%
Operating margin
3.0%
Return on invested capital
264.7%
Net debt / EBITDA
0.1×
Fair value
Blended fair value$53.53 range $54 – $79
Versus priceOvervalued−69% to fair value
Peer multiples
$53.69
Fundamentals-adjusted multiple
$53.36
10-year DCF (market-scaled)
$173.84
Earnings power value (floor, not blended)
$17.06
Model uncertainty
Medium
X-Ray Score
41/ 100 · Medium confidence · ahead of 17% of sector peers
Valuation22
Growth40
Profitability65
Financial health36
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Live Nation Entertainment promotes live music and runs much of the infrastructure around it. The business is organised around concerts, ticketing, and sponsorship and advertising. Its concerts arm promotes tours and festivals and operates venues, Ticketmaster distributes tickets for events, and the sponsorship unit places brand partnerships. Its customers include fans, artists, venue owners and corporate sponsors.
Money comes from ticket sales and service fees, concert and festival revenue, venue income and sponsorships. Revenue is $26.3 billion over the last twelve months, growing at 14.7% a year across the last three years, while the operating margin is 3.0%. The company carries net debt of 0.1 times EBITDA, and the business earns a profit of 265% on the capital invested in it. No dividend is paid.
StocksXray gives Live Nation Entertainment, Inc. an X-Ray Score of 41 out of 100 (medium confidence), ahead of 17% of the S&P 500 stocks in its sector. Its strongest lens is profitability (65) and its weakest is valuation (22).
Our fair value blend is $53.53 (range $53.53 to $78.61). At $170.51 the stock trades 219% above that blend, so the label is "Overvalued" with medium model uncertainty. Fair value is a range, not a price target.
XStocksXray
Live Nation Entertainment, Inc. (LYV)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$119.69
$69.74
$93.60
$129.50
$142.50
$170.51
Market cap
$26.0B
$16.1B
$21.6B
$30.6B
$33.0B
$41.6B
P/E
–
134.1×
69.9×
47.3×
–
298.4×
EV / revenue
4.3×
1.0×
1.0×
1.4×
1.4×
1.6×
EV / EBITDA
–
14.4×
14.1×
23.0×
18.4×
28.5×
Price / free cash flow
16.0×
10.9×
23.4×
28.4×
99.0×
30.1×
Free-cash-flow yield
6.3%
9.2%
4.3%
3.5%
1.0%
3.3%
Price / book
–
–
–
176.7×
121.9×
505.4×
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 4 Good · ● 2 Average · ● 8 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−8.8%Good
Free-cash-flow yield3.3%Average
Risk models
Altman Z score-0.5×Bad
Piotroski F-Score6 of 9Average
Growth
Free-cash-flow growth (3y)−39.2%Bad
Revenue growth (3y)14.7%Good
Growth consistency70%Bad
Balance sheet
Current ratio0.9×Bad
Net debt / EBITDA0.1×Good
Interest cover2.3×Bad
Valuation
Fair value vs price0.3×Bad
EBIT / EV yield1.9%Bad
Profitability
Return on invested capital264.7%Good
Operating margin3.0%Bad
XStocksXray
Live Nation Entertainment, Inc. (LYV)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
6,268
16,681
22,726
23,156
25,201
26,273
Gross profit
–
–
–
–
–
–
Operating income
-418
722
1,085
825
1,251
801
Net income
-651
266
557
896
496
135
Diluted EPS ($)
-3.09
0.52
1.34
2.74
-0.24
0.57
Free cash flow
1,628
1,488
924
1,079
334
1,383
Gross margin
–
–
–
–
–
–
Operating margin
−6.7%
4.3%
4.8%
3.6%
5.0%
3.0%
Net margin
−10.4%
1.6%
2.5%
3.9%
2.0%
0.5%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
14,402
16,461
19,030
19,639
22,913
28,181
Cash
4,885
5,606
6,232
6,095
7,094
9,072
Total debt
5,731
5,903
6,593
6,438
8,200
9,201
Equity
-583
-368
-52
173
271
82
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value blends three models and carries a typical error of about 40%, so treat it as a range. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.