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Live Nation Entertainment

LYV
42
Entertainment · Communication Services
Also trades as: 0JVD.L GBP 1.69 (-2.12%)
Price
$170.51
-2.00 (-1.16%)
Market Cap
$39.72B
Winston Score
42
Winston is serious
Mixed quality — meaningful strengths and weaknesses.
Data as of Oct 18, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
15/30
Growth
Mixed
5/20
Cash Flow
Strong
7/10
Stability
Mixed
3/10
Valuation
Data not available
0/10
Ownership
Good
10/15
Dividends
Not counted
n/a

40 of 95 counted points = Winston Score 42. Pillars marked n/a do not apply to this company and are left out of the total.

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Share count rising — dilution

+6.7% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 217.2M (2021) → 231.8M (2025)

§Winston Score History

The full picture

Live Nation Entertainment is the world's largest live entertainment company. It promotes and organizes concerts and music festivals, owns and operates venues like the House of Blues, and runs Ticketmaster, the dominant ticket-selling platform in the United States. Its customers are music fans, artists, and sports teams who need ticketing services.

Live Nation makes money in three main ways: selling tickets through Ticketmaster, charging fees to promote concerts, and collecting revenue from sponsorships and advertising at its venues. The company operates globally, with a strong presence in North America and Europe, and its control of both venues and ticketing creates a powerful, hard-to-replicate business network. However, Live Nation faces real regulatory risk — the U.S. Department of Justice filed an antitrust lawsuit in 2024 seeking to break up the company, arguing its combined control of venues, promotion, and ticketing harms competition. That legal battle is the single biggest uncertainty hanging over the business right now.

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Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+9.4% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+158.5% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (12%)

Research and development spending

Insider Activity

32.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$9.1B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Growth context

Live Nation Entertainment is growing revenue at 9% year-over-year. The Winston Score measures business quality today — these growth metrics show what could matter tomorrow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale
Gross Margin
0.0%
Thin — 0.0% gross margin
Profit after running costs
Operating Margin
6.8%
Modest — 6.8% operating margin
Return on the money invested
ROCE
27.9%
Exceptional — 27.9% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales growth
Sales YoY
+10.8%
Steady sales growth (+10.8% YoY)
Profit growth
EPS YoY
-146.1%
Earnings shrinking (-146.1% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is
EPS Consistency
3/8 quarters
Earnings rarely grow — volatile business

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Cash Flow

Profit that turns into cash
Cash Conversion
1937%
Turns 1937% of profit into real cash
Spare cash per sale
FCF Margin
5.3%
Thin free cash flow (5.3%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
61.33
Heavy debt load (61.33)
Covers its interest
Interest Cover
4.07x
Adequate interest coverage (4.1x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
N/M
Negative earnings — P/E not meaningful
Cheaper or dearer next year
P/E vs Forward
N/A
not available
Data not available

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Dividends

Not applicable for this business.
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