Live Nation Entertainment (LYV)
Market Price (12/5/2025): $139.01 | Market Cap: $32.3 BilSector: Communication Services | Industry: Movies & Entertainment
Live Nation Entertainment (LYV)
Market Price (12/5/2025): $139.01Market Cap: $32.3 BilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights
Why It Matters
Which of these 2 stories sounds closer for this stock?
1. Generates cash flow
The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.
2. Riding a trend
Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 2.5 Bil | |
| Low stock price volatilityVol 12M is 32% | |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Social Media & Creator Economy. Themes include Travel & Leisure Tech, and Creator Economy Monetization. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 2.5 Bil |
| Low stock price volatilityVol 12M is 32% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Social Media & Creator Economy. Themes include Travel & Leisure Tech, and Creator Economy Monetization. |
Valuation, Metrics & Events
LYV Stock
Why The Stock Moved
Qualitative Assessment
AI Generated Analysis | Feedback
Here are key points explaining the approximate -16.1% movement of Live Nation Entertainment (LYV) stock from August 31, 2025, to December 5, 2025:
1. Disappointing Q3 2025 Earnings Report. Live Nation announced its third-quarter 2025 results on November 4, 2025, missing analyst expectations for both revenue and earnings per share (EPS). The company reported revenue of $8.50 billion against an estimated $8.59 billion and a GAAP EPS of $0.73, significantly below the analyst consensus of $1.32, marking a 44.7% miss for EPS. This underperformance in profitability led to an immediate negative reaction in the stock price.
2. Escalating Regulatory Scrutiny and FTC Lawsuit. On September 18, 2025, the Federal Trade Commission (FTC), along with seven states, filed a civil complaint against Live Nation and its Ticketmaster subsidiary. The complaint alleged systematic violations of federal law, including deceptive ticket pricing and misrepresentation of ticket limits, causing the stock to decline by approximately 3% upon the announcement. Subsequently, in October 2025, Ticketmaster initiated significant operational changes, such as shutting down its TradeDesk platform and restricting user accounts, in response to these regulatory pressures, which created uncertainty regarding future revenue streams.
Stock Movement Drivers
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LYV Return | 3% | 63% | -42% | 34% | 38% | 8% | 95% |
| Peers Return | 30% | 1% | -17% | 6% | -9% | -2% | 5% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 112% |
Monthly Win Rates [3] | |||||||
| LYV Win Rate | 42% | 58% | 25% | 42% | 67% | 50% | |
| Peers Win Rate | 27% | 25% | 23% | 27% | 19% | 52% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 70% | |
Max Drawdowns [4] | |||||||
| LYV Max Drawdown | -59% | -10% | -45% | -6% | -7% | -11% | |
| Peers Max Drawdown | -8% | -12% | -27% | -13% | -17% | -4% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: WMG, ANGX, DCR, INHI, PSKY. See LYV Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 12/4/2025 (YTD)
How Low Can It Go
| Event | LYV | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -48.2% | -25.4% |
| % Gain to Breakeven | 92.9% | 34.1% |
| Time to Breakeven | 600 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -61.2% | -33.9% |
| % Gain to Breakeven | 157.9% | 51.3% |
| Time to Breakeven | 307 days | 148 days |
| 2018 Correction | ||
| % Loss | -24.7% | -19.8% |
| % Gain to Breakeven | 32.7% | 24.7% |
| Time to Breakeven | 80 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -89.9% | -56.8% |
| % Gain to Breakeven | 894.0% | 131.3% |
| Time to Breakeven | 1931 days | 1480 days |
Compare to WMG, ANGX, DCR, INHI, PSKY
In The Past
Live Nation Entertainment's stock fell -48.2% during the 2022 Inflation Shock from a high on 2/25/2022. A -48.2% loss requires a 92.9% gain to breakeven.
Preserve Wealth
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Asset Allocation
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Latest Trefis Analyses
Trade Ideas
Select past ideas related to LYV. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 4.9% | 4.9% | 0.0% | |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | -1.2% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 6.8% | 6.8% | 0.0% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.1% | 2.1% | -5.6% |
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -25.1% | -25.1% | -25.6% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 11302025 | PINS | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 4.9% | 4.9% | 0.0% | |
| 11212025 | TMUS | T-Mobile US | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 0.0% | 0.0% | -1.2% |
| 11212025 | Z | Zillow | Monopoly | MY | Getting CheaperMonopoly-Like with P/S DeclineLarge cap with monopoly-like margins or cash flow generation and getting cheaper based on P/S multiple | 6.8% | 6.8% | 0.0% |
| 11072025 | IRDM | Iridium Communications | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | 2.1% | 2.1% | -5.6% |
| 10032025 | TTD | Trade Desk | Dip Buy | DB | CFO/Rev | Low D/EDip Buy with High Cash Flow MarginsBuying dips for companies with significant cash flows from operations and reasonable debt / market cap | -25.1% | -25.1% | -25.6% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Live Nation Entertainment
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 21.36 |
| Mkt Cap | 41.8 |
| Rev LTM | 15,519 |
| Op Inc LTM | 1,007 |
| FCF LTM | 449 |
| FCF 3Y Avg | 479 |
| CFO LTM | 762 |
| CFO 3Y Avg | 765 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -0.2% |
| Rev Chg 3Y Avg | 3.7% |
| Rev Chg Q | 9.9% |
| QoQ Delta Rev Chg LTM | 2.9% |
| Op Mgn LTM | 6.5% |
| Op Mgn 3Y Avg | 4.6% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 6.4% |
| CFO/Rev 3Y Avg | 7.8% |
| FCF/Rev LTM | 3.9% |
| FCF/Rev 3Y Avg | 4.9% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 41.8 |
| P/S | 4.6 |
| P/EBIT | 57.5 |
| P/E | 105.2 |
| P/CFO | 40.9 |
| Total Yield | 1.9% |
| Dividend Yield | 0.4% |
| FCF Yield 3Y Avg | 3.1% |
| D/E | 0.2 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -7.4% |
| 3M Rtn | -14.3% |
| 6M Rtn | 2.3% |
| 12M Rtn | -4.2% |
| 3Y Rtn | 38.7% |
| 1M Excs Rtn | -8.7% |
| 3M Excs Rtn | -19.9% |
| 6M Excs Rtn | -13.1% |
| 12M Excs Rtn | -18.3% |
| 3Y Excs Rtn | -28.4% |
Segment Financials
Revenue by Segment
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Concerts | 18,741 | 13,494 | 4,722 | 1,468 | 9,428 |
| Ticketing | 2,959 | 2,239 | 1,134 | 188 | 1,545 |
| Sponsorship & Advertising | 1,095 | 968 | 412 | 204 | 590 |
| Corporate | 0 | 0 | 0 | ||
| Other & Eliminations | -69 | -20 | 0 | ||
| Eliminations | -19 | ||||
| Other | 3 | ||||
| Total | 22,726 | 16,681 | 6,268 | 1,860 | 11,548 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Ticketing | 1,140 | 828 | -612 | 232 | |
| Sponsorship & Advertising | 675 | 592 | 45 | 330 | |
| Concerts | 320 | 170 | -959 | -53 | |
| Gain on sale of operating assets | 14 | 32 | |||
| Astroworld estimated loss contingencies | 0 | ||||
| Other & Eliminations | -40 | -15 | |||
| Amortization of non-recoupable ticketing contract advances | -84 | -79 | |||
| Acquisition expenses | -94 | -68 | |||
| Stock-based compensation expense | -116 | -110 | |||
| Corporate | -215 | -168 | -114 | -183 | |
| Depreciation and amortization | -517 | -450 | |||
| Other | -13 | -1 | |||
| Total | 1,085 | 732 | -1,653 | 325 |
Returns Analyses
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 9302025 | 11042025 | 10-Q 9/30/2025 |
| 6302025 | 8072025 | 10-Q 6/30/2025 |
| 3312025 | 5012025 | 10-Q 3/31/2025 |
| 12312024 | 2212025 | 10-K 12/31/2024 |
| 9302024 | 11122024 | 10-Q 9/30/2024 |
| 6302024 | 7302024 | 10-Q 6/30/2024 |
| 3312024 | 5022024 | 10-Q 3/31/2024 |
| 12312023 | 2222024 | 10-K 12/31/2023 |
| 9302023 | 11022023 | 10-Q 9/30/2023 |
| 6302023 | 7272023 | 10-Q 6/30/2023 |
| 3312023 | 5042023 | 10-Q 3/31/2023 |
| 12312022 | 2232023 | 10-K 12/31/2022 |
| 9302022 | 11032022 | 10-Q 9/30/2022 |
| 6302022 | 8042022 | 10-Q 6/30/2022 |
| 3312022 | 5052022 | 10-Q 3/31/2022 |
| 12312021 | 2232022 | 10-K 12/31/2021 |
External Quote Links
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