Live Nation Entertainment (LYV)
Market Price (12/4/2025): $135.94 | Market Cap: $31.5 BilSector: Communication Services | Industry: Movies & Entertainment
Live Nation Entertainment (LYV)
Market Price (12/4/2025): $135.94Market Cap: $31.5 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
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization, and Social Media & Creator Economy. Themes include Travel & Leisure Tech, and Creator Economy Monetization. |
| 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
Between August 31, 2025, and December 4, 2025, Live Nation Entertainment (LYV) experienced a stock price decline of 18.3%, influenced by several key factors.
1. Significant Q3 2025 Earnings Miss
Live Nation Entertainment reported its Q3 2025 earnings on November 4, 2025, revealing a substantial miss on analyst forecasts. The company's earnings per share (EPS) came in at $0.73, significantly below the anticipated $1.48. Additionally, revenue reached $8.5 billion, falling short of the expected $8.89 billion. This unexpected financial underperformance led to an immediate 1.45% decrease in the stock's value in after-hours trading.
2. Persistent DOJ Antitrust Lawsuit Overhang
The ongoing antitrust lawsuit filed by the U.S. Department of Justice (DOJ) and 40 state attorneys general against Live Nation and Ticketmaster continued to exert pressure on the stock. The lawsuit, initiated on May 23, 2024, alleges monopolistic practices and seeks remedies, potentially including the divestiture of Ticketmaster from Live Nation. This legal challenge represents a significant "overhang" for the company, with a potential trial date set for as early as March 2026.
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% | -1% | 80% |
| Peers Return | 30% | 1% | -17% | 6% | -9% | -2% | 5% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 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 12/3/2025 (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.
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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 | 2.9% | 2.9% | 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 | 0.8% | 0.8% | -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 | 1.3% | 1.3% | 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 | -0.5% | -0.5% | -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 | -22.5% | -22.5% | -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 | 2.9% | 2.9% | 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 | 0.8% | 0.8% | -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 | 1.3% | 1.3% | 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 | -0.5% | -0.5% | -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 | -22.5% | -22.5% | -25.6% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Live Nation Entertainment
| Peers to compare with: |
Financials
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Valuation
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Returns
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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 |
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