Live Nation Entertainment (LYV)
Market Price (12/25/2025): $145.84 | Market Cap: $33.8 BilSector: Communication Services | Industry: Movies & Entertainment
Live Nation Entertainment (LYV)
Market Price (12/25/2025): $145.84Market Cap: $33.8 BilSector: Communication ServicesIndustry: Movies & Entertainment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 10%, CFO LTM is 2.5 Bil | Key risksLYV key risks include [1] significant regulatory and antitrust litigation that could force the divestiture of its Ticketmaster subsidiary and [2] a substantial debt load that restricts financial flexibility. |
| 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. |
| Key risksLYV key risks include [1] significant regulatory and antitrust litigation that could force the divestiture of its Ticketmaster subsidiary and [2] a substantial debt load that restricts financial flexibility. |
Why The Stock Moved
Qualitative Assessment
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1. Live Nation Entertainment reported a significant miss on its Q2 2025 earnings per share (EPS), with an EPS of $0.41 against an anticipated $1.05. Furthermore, the company's outlook for Q4 2025 suggested a negative EPS, which raised concerns about future profitability.
2. On October 8, 2025, Live Nation announced its intention to offer $1.3 billion in convertible senior notes due in 2031. This news caused a 3.4% decline in shares due to investor concerns about potential stock dilution should these notes be converted into company stock.
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Stock Movement Drivers
Fundamental Drivers
The -10.3% change in LYV stock from 9/24/2025 to 12/24/2025 was primarily driven by a -8.2% change in the company's P/E Multiple.| 9242025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 162.08 | 145.31 | -10.35% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 23721.44 | 24569.49 | 3.58% |
| Net Income Margin (%) | 3.88% | 3.66% | -5.59% |
| P/E Multiple | 40.87 | 37.50 | -8.24% |
| Shares Outstanding (Mil) | 231.85 | 232.04 | -0.09% |
| Cumulative Contribution | -10.35% |
Market Drivers
9/24/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| LYV | -10.3% | |
| Market (SPY) | 4.4% | 13.0% |
| Sector (XLC) | 0.6% | 18.9% |
Fundamental Drivers
The -0.6% change in LYV stock from 6/25/2025 to 12/24/2025 was primarily driven by a -14.6% change in the company's Net Income Margin (%).| 6252025 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 146.19 | 145.31 | -0.60% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 22738.21 | 24569.49 | 8.05% |
| Net Income Margin (%) | 4.28% | 3.66% | -14.57% |
| P/E Multiple | 34.71 | 37.50 | 8.06% |
| Shares Outstanding (Mil) | 231.22 | 232.04 | -0.36% |
| Cumulative Contribution | -0.60% |
Market Drivers
6/25/2025 to 12/24/2025| Return | Correlation | |
|---|---|---|
| LYV | -0.6% | |
| Market (SPY) | 14.0% | 24.6% |
| Sector (XLC) | 12.6% | 27.1% |
Fundamental Drivers
The 9.0% change in LYV stock from 12/24/2024 to 12/24/2025 was primarily driven by a 84.3% change in the company's Net Income Margin (%).| 12242024 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 133.32 | 145.31 | 8.99% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 23292.71 | 24569.49 | 5.48% |
| Net Income Margin (%) | 1.99% | 3.66% | 84.34% |
| P/E Multiple | 66.43 | 37.50 | -43.54% |
| Shares Outstanding (Mil) | 230.37 | 232.04 | -0.72% |
| Cumulative Contribution | 8.99% |
Market Drivers
12/24/2024 to 12/24/2025| Return | Correlation | |
|---|---|---|
| LYV | 9.0% | |
| Market (SPY) | 15.8% | 56.1% |
| Sector (XLC) | 20.1% | 59.2% |
Fundamental Drivers
The 105.6% change in LYV stock from 12/25/2022 to 12/24/2025 was primarily driven by a 81.6% change in the company's Net Income Margin (%).| 12252022 | 12242025 | Change | |
|---|---|---|---|
| Stock Price ($) | 70.69 | 145.31 | 105.56% |
| Change Contribution By | LTM | LTM | |
| Total Revenues ($ Mil) | 15093.69 | 24569.49 | 62.78% |
| Net Income Margin (%) | 2.01% | 3.66% | 81.63% |
| P/E Multiple | 52.48 | 37.50 | -28.54% |
| Shares Outstanding (Mil) | 225.76 | 232.04 | -2.78% |
| Cumulative Contribution | 105.40% |
Market Drivers
12/25/2023 to 12/24/2025| Return | Correlation | |
|---|---|---|
| LYV | 58.9% | |
| Market (SPY) | 48.9% | 53.4% |
| Sector (XLC) | 65.9% | 52.1% |
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| LYV Return | 3% | 63% | -42% | 34% | 38% | 11% | 102% |
| Peers Return | � | � | � | � | -2% | 9% | � |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 18% | 115% |
Monthly Win Rates [3] | |||||||
| LYV Win Rate | 42% | 58% | 25% | 42% | 67% | 50% | |
| Peers Win Rate | � | � | � | 40% | 48% | 48% | |
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 73% | |
Max Drawdowns [4] | |||||||
| LYV Max Drawdown | -59% | -10% | -45% | -6% | -7% | -11% | |
| Peers Max Drawdown | � | � | � | � | -30% | -35% | |
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | |
[1] Cumulative total returns since the beginning of 2020
[2] Peers: MSGE, TKO, SEAT, WMG, EB. 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 12/24/2025 (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 | 1,931 days | 1,480 days |
Compare to WMG, ANGX, NFLX, DIS, LYV
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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Live Nation Entertainment, Inc. operates as a live entertainment company. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; produces music festivals; creates associated content; and offers management and other services to artists. The Ticketing segment manages the ticketing operations, including the provision of ticketing software and services to clients for tickets and event information through its primary websites livenation.com and ticketmaster.com, as well as provides ticket resale services. This segment sells tickets for its events, as well as for third-party clients in various live event categories, such as arenas, stadiums, amphitheaters, music clubs, concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters through websites, mobile apps, and ticket outlets. The Sponsorship & Advertising segment sells international, national, and local sponsorships and placement of advertising, including signage, promotional programs, rich media offering that comprise advertising related with live streaming and music-related content; and ads across its distribution network of venues, events, and websites. This segment also manages the development of strategic sponsorship programs, as well as develops, books, and produces custom events or programs for specific brands. As of December 31, 2021, it owned, operated, or leased 165 entertainment venues in North America and 94 entertainment venues internationally. The company was formerly known as Live Nation, Inc. and changed its name to Live Nation Entertainment, Inc. in January 2010. Live Nation Entertainment, Inc. was incorporated in 2005 and is headquartered in Beverly Hills, California.
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- Live Nation is like **Amazon** for live events: they promote the concerts, sell the tickets (via Ticketmaster), and own many of the venues where events take place.
- They are like **Disney**, but entirely focused on live music: promoting the shows, selling the tickets (via Ticketmaster), and owning many of the venues.
- Imagine **Netflix** if it not only produced the content but also owned the movie theaters and sold all the tickets to those movies – that's Live Nation for live entertainment.
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- Live Concert Promotion: Promotes and produces live music concerts and festivals worldwide.
- Ticketing Services: Provides a global platform for ticket sales to a wide range of live events through brands like Ticketmaster.
- Sponsorship & Advertising Services: Connects brands with fans through event sponsorships, custom content, and digital advertising opportunities.
- Artist Management & Services: Offers comprehensive management and support services for music artists, including touring, merchandising, and brand development.
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Live Nation Entertainment (symbol: LYV) primarily sells its services to individuals, acting as the ultimate consumers of live entertainment experiences. While the company engages in significant business-to-business relationships (e.g., with venues for ticketing services, or brands for sponsorship and advertising), its core mission and the vast majority of its direct transactions involve selling tickets to individual fans.
The company serves the following major categories of individual customers:
- Music Event Attendees: This is the largest and most central customer category for Live Nation. It includes individuals who purchase tickets to concerts and music festivals across a vast array of genres (e.g., rock, pop, hip-hop, electronic, country, R&B) promoted directly by Live Nation or through its Ticketmaster platform. These customers are the lifeblood of Live Nation's Concerts division.
- Sports Event Attendees: While Live Nation's own promotions are less focused on sports, its Ticketmaster segment is a dominant ticketing provider for professional and collegiate sporting events. This category includes individuals purchasing tickets for football, basketball, hockey, baseball, and other sports, often through Ticketmaster's extensive partnerships with leagues, teams, and venues.
- Theater & Arts Event Attendees: Through Ticketmaster, Live Nation also serves individuals attending a wide range of theatrical performances, Broadway shows, musicals, comedy acts, family entertainment (e.g., ice shows, circuses), and other cultural and artistic events. This category represents a significant portion of Ticketmaster's broader ticketing services beyond music and sports.
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- Amazon (AMZN)
- Visa (V)
- Mastercard (MA)
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Michael Rapino
President and Chief Executive Officer
Michael Rapino has served as the President and CEO of Live Nation Entertainment since 2005. He oversaw the merger between Live Nation and Ticketmaster in 2010, forming Live Nation Entertainment. Prior to Live Nation, Rapino spent ten years at Labatt's Breweries of Canada in various marketing and entertainment roles. In the late 1990s, he co-founded Core Audience Entertainment, a Canadian concert promotion company that was acquired by SFX Entertainment in 1999. SFX Entertainment was subsequently acquired by Clear Channel Communications, where Rapino held several roles before Live Nation was spun off.
Joe Berchtold
President & Chief Financial Officer
Joe Berchtold expanded his responsibilities to include Chief Financial Officer in July 2021. He has served as President of Live Nation since 2017 and joined the company in 2011. As President, Berchtold oversees corporate functions and strategic initiatives. Before joining Live Nation, he was President of Technicolor Creative Services and a partner with McKinsey and Company.
Omar Al-joulani
President, Touring, Live Nation Concerts
Omar Al-joulani has spent over 14 years at Live Nation and currently serves as President, Touring, for Live Nation Concerts. In this role, he oversees massive tours for artists such as JAY-Z, Beyoncé, The Weeknd, and Kendrick & SZA. He is responsible for booking and operations for Live Nation's concert business globally.
Jordan Zachary
Co-President, US Concerts
Jordan Zachary serves as Co-President, US Concerts at Live Nation Entertainment. Previously, he held the position of Chief Strategy Officer, a role he was appointed to in April 2015. Before joining Live Nation, Zachary was a Managing Director at The Raine Group, a merchant bank focused on technology, media, and telecommunications. He has a background in mergers and acquisitions, having worked at UBS Investment Bank and Lehman Brothers.
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Here are the key risks to Live Nation Entertainment (LYV):Key Risks to Live Nation Entertainment (LYV)
- Regulatory Scrutiny and Antitrust Litigation: Live Nation Entertainment faces significant and ongoing regulatory pressure from government bodies like the Department of Justice (DOJ) and the Federal Trade Commission (FTC), alongside multiple class-action lawsuits. These challenges center on allegations of monopolistic practices, anti-competitive behavior, and excessive ticket pricing by Live Nation and its subsidiary, Ticketmaster. Remedies could include substantial financial penalties, forced divestiture of Ticketmaster, which is a crucial profit center for Live Nation's integrated business model, and severe reputational damage.
- Substantial Debt and Lease Obligations: The company operates with a considerable amount of debt and lease obligations. This high debt load could restrict Live Nation's operational flexibility and potentially impair its financial condition. The company's ability to service these obligations is reliant on generating sufficient cash flow, which can be vulnerable to broader economic and industry conditions. Escalating operational and legal expenses further exacerbate this financial risk.
- Sensitivity to Economic Conditions and Public Tastes: Live Nation's business is heavily dependent on the live events sector, making it susceptible to shifts in public tastes, discretionary consumer spending, and overall economic health. Economic downturns, inflationary pressures, and reduced consumer buying power can directly impact attendance at events, ticket sales, and revenue from sponsorships and merchandise. Furthermore, external factors such as adverse weather conditions can also negatively affect event attendance and financial performance.
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Live Nation Entertainment (LYV) operates primarily in three segments: Concerts, Ticketing, and Sponsorship & Advertising. The addressable markets for these main products and services are as follows:
Concerts/Live Events
- Global Live Events Industry: The global live events industry market size was estimated at $652.6 billion in 2022 and is projected to reach $1,177.1 billion by 2032. Another report indicates the global live events market was valued at $58.91 billion in 2023 and is expected to reach $754.04 billion in 2030.
- Global Music Event Market: The global music event market size was valued at $250.8 billion in 2023 and is projected to reach $775.7 billion by 2035.
- U.S. Concert & Event Promotion: The market size for Concert & Event Promotion in the U.S. was $60.6 billion in 2024 and is expected to be $62.5 billion in 2025.
- U.S. Live Music Market: The United States live music market is valued at $18.51 billion in 2025 and is forecast to reach $25.81 billion by 2030.
Ticketing
- Global Online Event Ticketing Market: The global online event ticketing market size is $85.35 billion in 2025 and is forecast to touch $102.79 billion by 2030.
- U.S. Online Event Ticketing Market: The United States online event ticketing industry is expected to reach $28.42 billion by 2033 from $18.21 billion in 2024.
Sponsorship & Advertising
While a definitive standalone market size for Live Nation's specific "Sponsorship & Advertising" segment (which leverages concerts, venues, festivals, and ticketing assets) is not readily available, its significance within the broader live events industry is substantial.
- Global Live Events Sponsorship: The sponsorship segment dominated the global live events industry market in 2022 and garnered a 47.0% share of the market by revenue source in the same year.
- Global Advertising Music Market: The global advertising music market is projected to reach approximately $5.8 billion by 2033.
- Global Audio Advertising Market: The global audio advertising market is valued at $38.157 billion in 2025 and is expected to reach $51.110 billion by 2030.
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Live Nation Entertainment (LYV) is poised for continued revenue growth over the next two to three years, driven by several strategic initiatives and strong market demand. Key drivers identified from recent earnings reports, transcripts, and analyst commentary include:
- International Expansion and Fan Base Growth: Live Nation anticipates significant revenue growth from expanding its global footprint. The company is experiencing remarkable international growth, with the international fan count projected to surpass that of the U.S. for the first time. Efforts are focused on growing Ticketmaster's presence in international markets, particularly in Latin America and Asia, to expand the addressable audience.
- Expansion of Venue Portfolio and Large-Scale Events: The company is investing in new venue development and enhancing existing capacity. Plans include bringing 14 new or substantially refurbished venues online by the end of 2025 and opening 10 major venues in 2026. This expansion, coupled with a strong pipeline for large-scale stadium, arena, and amphitheater shows, is expected to drive double-digit growth in its large venue show pipeline and increased attendance.
- Growth in Sponsorship and Advertising Revenue: Live Nation projects continued double-digit growth in its sponsorship revenue. This growth is fueled by globalization and expanding relationships with strategic partners. A substantial portion of the expected sponsorship revenue for 2026 is already committed, providing a clear outlook for this segment.
- Increased Fan Spending and Dynamic Pricing Strategies: Enhanced fan experiences are leading to higher on-site spending at major festivals and amphitheaters. Live Nation's market-based, dynamic pricing model allows the company to optimize ticket prices based on demand, capturing additional revenue that might otherwise go to the secondary market. CEO Michael Rapino has indicated there is still room to increase concert prices, reflecting the high value consumers place on live events.
- Ticketing Volume Growth and Technology Initiatives: Ticketmaster is projected to see double-digit growth in ticket sales for 2026, driven primarily by concert events. The company is also leveraging advanced technologies, including AI, to enhance operational efficiency and ticketing security, which is expected to contribute to mid-single-digit growth with potential upside from these innovations and international expansion.
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Share Repurchases
- Live Nation repurchased approximately $120.37 million of its common stock in 2022.
- The company repurchased around $60.05 million in shares during 2024.
- For the first half of 2025, share repurchases amounted to approximately $66.27 million.
Share Issuance
- Live Nation's common shares outstanding increased from approximately 233.3 million in 2023 to 234.4 million in 2024, representing a net increase of over 1 million shares.
Inbound Investments
- In April 2020, Saudi Arabia's Public Investment Fund (PIF) acquired a 5.7% stake in Live Nation, an investment valued at just under $500 million.
Outbound Investments
- Live Nation acquired a majority stake in the streaming entertainment company Veeps in 2021.
- In April 2022, Live Nation expanded its international presence by acquiring Philippines-based promoter Music Management International (MMI).
- The company has engaged in additional acquisition activities, including Colombia's Páramo Presenta, Japan's Hayashi International Promotions (HIP), and SD Concerts in 2025, furthering its global footprint.
Capital Expenditures
- Live Nation's full-year capital expenditures for 2025 are estimated to be between $900 million and $1 billion.
- Total capital expenditures for 2024 were reported as $632.63 million.
- A significant portion of the 2025 capital expenditures, approximately $700 million to $800 million, is focused on venue expansion and enhancement projects, including plans to add around 20 large-scale venues globally by mid-2026.
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Select 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 | 0.0% | 0.0% | -1.4% | |
| 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 | -4.5% | -4.5% | -6.4% |
| 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 | -2.7% | -2.7% | -5.1% |
| 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 | 4.5% | 4.5% | -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 | -26.1% | -26.1% | -29.8% |
Research & Analysis
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Peer Comparisons for Live Nation Entertainment
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 42.16 |
| Mkt Cap | 9.1 |
| Rev LTM | 1,754 |
| Op Inc LTM | 533 |
| FCF LTM | 242 |
| FCF 3Y Avg | 270 |
| CFO LTM | 420 |
| CFO 3Y Avg | 426 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -5.8% |
| Rev Chg 3Y Avg | 5.6% |
| Rev Chg Q | 1.6% |
| QoQ Delta Rev Chg LTM | 0.0% |
| Op Mgn LTM | 9.2% |
| Op Mgn 3Y Avg | 9.2% |
| QoQ Delta Op Mgn LTM | 0.3% |
| CFO/Rev LTM | 10.7% |
| CFO/Rev 3Y Avg | 9.5% |
| FCF/Rev LTM | 8.2% |
| FCF/Rev 3Y Avg | 6.1% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 9.1 |
| P/S | 1.9 |
| P/EBIT | 20.5 |
| P/E | 40.1 |
| P/CFO | 14.7 |
| Total Yield | 2.0% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 4.0% |
| D/E | 0.4 |
| Net D/E | 0.2 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 15.5% |
| 3M Rtn | 0.8% |
| 6M Rtn | 20.4% |
| 12M Rtn | 17.2% |
| 3Y Rtn | -22.7% |
| 1M Excs Rtn | 12.2% |
| 3M Excs Rtn | -4.0% |
| 6M Excs Rtn | 6.2% |
| 12M Excs Rtn | 4.4% |
| 3Y Excs Rtn | -104.3% |
Comparison Analyses
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 |
Price Behavior
Price Behavior
| Market Price | $145.31 | |
| Market Cap ($ Bil) | 33.7 | |
| First Trading Date | 12/21/2005 | |
| Distance from 52W High | -16.5% | |
| 50 Days | 200 Days | |
| DMA Price | $141.51 | $144.88 |
| DMA Trend | indeterminate | down |
| Distance from DMA | 2.7% | 0.3% |
| 3M | 1YR | |
| Volatility | 34.2% | 31.9% |
| Downside Capture | 70.09 | 82.34 |
| Upside Capture | 4.68 | 78.76 |
| Correlation (SPY) | 12.9% | 56.0% |
LYV Betas & Captures as of 11/30/2025
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.25 | 0.20 | 0.26 | 0.53 | 0.91 | 1.05 |
| Up Beta | 0.92 | 1.17 | 0.81 | 1.03 | 1.04 | 1.05 |
| Down Beta | 0.40 | 0.19 | 0.14 | 0.39 | 0.94 | 1.00 |
| Up Capture | -96% | -83% | -49% | 22% | 56% | 121% |
| Bmk +ve Days | 12 | 25 | 38 | 73 | 141 | 426 |
| Stock +ve Days | 9 | 17 | 25 | 60 | 127 | 409 |
| Down Capture | 66% | 59% | 76% | 60% | 89% | 102% |
| Bmk -ve Days | 7 | 16 | 24 | 52 | 107 | 323 |
| Stock -ve Days | 10 | 24 | 37 | 64 | 119 | 338 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Comparison of LYV With Other Asset Classes (Last 1Y) | |||||||
|---|---|---|---|---|---|---|---|
| LYV | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 9.9% | 22.6% | 19.2% | 71.9% | 8.9% | 6.0% | -10.4% |
| Annualized Volatility | 31.7% | 18.5% | 19.5% | 19.3% | 15.3% | 17.1% | 35.0% |
| Sharpe Ratio | 0.32 | 0.96 | 0.78 | 2.69 | 0.36 | 0.18 | -0.12 |
| Correlation With Other Assets | 59.2% | 56.0% | 1.6% | 24.5% | 45.5% | 17.4% | |
ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 5-Year Data
| Comparison of LYV With Other Asset Classes (Last 5Y) | |||||||
|---|---|---|---|---|---|---|---|
| LYV | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 14.8% | 13.0% | 14.9% | 18.7% | 11.7% | 4.8% | 32.6% |
| Annualized Volatility | 35.6% | 20.9% | 17.1% | 15.5% | 18.7% | 18.9% | 48.7% |
| Sharpe Ratio | 0.47 | 0.53 | 0.70 | 0.97 | 0.51 | 0.17 | 0.59 |
| Correlation With Other Assets | 51.4% | 53.9% | 1.4% | 14.7% | 42.2% | 22.8% | |
ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
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Based On 10-Year Data
| Comparison of LYV With Other Asset Classes (Last 10Y) | |||||||
|---|---|---|---|---|---|---|---|
| LYV | Sector ETF | Equity | Gold | Commodities | Real Estate | Bitcoin | |
| Annualized Return | 19.0% | 13.2% | 14.7% | 14.9% | 6.9% | 5.2% | 69.2% |
| Annualized Volatility | 38.2% | 22.6% | 18.0% | 14.8% | 17.6% | 20.8% | 55.8% |
| Sharpe Ratio | 0.58 | 0.54 | 0.70 | 0.83 | 0.31 | 0.22 | 0.90 |
| Correlation With Other Assets | 53.3% | 56.5% | -2.9% | 23.2% | 49.0% | 15.6% | |
ETFs used for asset classes: Sector ETF = XLC, Equity = SPY, Gold = GLD, Commodities = DBC, Real Estate = VNQ, and Bitcoin = BTCUSD
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/4/2025 | -10.6% | -5.9% | -7.6% |
| 8/7/2025 | 3.3% | 9.0% | 14.3% |
| 5/1/2025 | 1.9% | 2.6% | 5.5% |
| 2/20/2025 | -1.9% | -7.5% | -19.2% |
| 11/12/2024 | 4.7% | 7.1% | 8.8% |
| 7/30/2024 | 1.7% | -4.9% | 2.5% |
| 5/2/2024 | 7.2% | 9.9% | 6.9% |
| 2/22/2024 | 2.0% | 3.7% | 13.4% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 15 | 14 | 15 |
| # Negative | 9 | 10 | 9 |
| Median Positive | 4.7% | 7.0% | 10.3% |
| Median Negative | -2.8% | -5.1% | -8.1% |
| Max Positive | 15.1% | 15.9% | 45.0% |
| Max Negative | -10.6% | -11.0% | -19.2% |
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
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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