Live Nation Entertainment (LYV)
NYSE:LYV
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Live Nation Entertainment
(NYSE:LYV)
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Rating:59Neutral
Price Target:
$152.00
▼(-5.35% Downside)
Action:ReiteratedDate:02/20/26
The score is held back primarily by financial risk and cash-flow volatility (high leverage, thin/variable margins, and a sharp 2025 free-cash-flow decline). Offsetting these are constructive technical momentum (trading above key moving averages with positive MACD) and a largely positive earnings outlook (double-digit AOI growth guidance), but a very high P/E with no dividend support materially limits the valuation component.
Positive Factors
Distribution & Network Effects
Live Nation's broad distribution partnerships and Ticketmaster's platform scale create durable network effects: more distribution fills more shows, attracts artists and sponsors, and supports recurring ticketing volume, reinforcing competitive positioning and long-term demand capture.
Negative Factors
High Leverage
Elevated debt relative to a thin equity base (debt-to-equity ~9.7x in 2025) materially limits financial flexibility. High leverage raises refinancing and covenant risks, magnifies earnings volatility, and reduces capacity to absorb demand shocks or pursue opportunistic investments over the medium term.
Read all positive and negative factors
Positive Factors
Negative Factors
Distribution & Network Effects
Live Nation's broad distribution partnerships and Ticketmaster's platform scale create durable network effects: more distribution fills more shows, attracts artists and sponsors, and supports recurring ticketing volume, reinforcing competitive positioning and long-term demand capture.
Read all positive factors
Live Nation Entertainment (LYV) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$38.03B
Dividend YieldN/A
Average Volume (3M)3.00M
Price to Earnings (P/E)66.6
Beta (1Y)1.01
Revenue Growth5.39%
EPS Growth36.94%
CountryUS
Employees16,200
SectorCommunication Services
Sector Strength97
IndustryEntertainment
Share Statistics
EPS (TTM)-1.06
Shares Outstanding232,368,240
10 Day Avg. Volume2,600,414
30 Day Avg. Volume2,998,465
Financial Highlights & Ratios
PEG Ratio-0.61
Price to Book (P/B)121.91
Price to Sales (P/S)1.31
P/FCF Ratio99.03
Enterprise Value/Market Cap1.12
Enterprise Value/Revenue1.69
Enterprise Value/Gross Profit3.73
Enterprise Value/Ebitda21.20
Forecast
1Y Price Target
$185.56Price Target Upside15.55% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering19
EPS Forecast (FY)1.51
Revenue Forecast (FY)$27.48B
Live Nation Entertainment Business Overview & Revenue Model
Company Description
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 rent...
How the Company Makes Money
Live Nation primarily makes money through three major operating areas: Concerts, Ticketing, and Sponsorship & Advertising.
1) Concerts (event promotion and related services)
- Promoting/producing live events: Live Nation earns revenue from ticket...
Live Nation Entertainment Key Performance Indicators (KPIs)
Any
Fans by Geography
Shows the distribution of fans across different regions, indicating market penetration and potential growth opportunities in various locations.
Shows the distribution of fans across different regions, indicating market penetration and potential growth opportunities in various locations.
Data provided by:
The Fly
The FlyLive Nation Entertainment Earnings Call Summary
Earnings Call Date:Feb 19, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
The call was largely positive: management reiterated double-digit AOI guidance for 2026 driven by strong sponsorship momentum and robust concert demand worldwide, reported encouraging Ticketmaster GTV growth (6% overall, concerts +9%), and achieved a favorable DOJ partial dismissal that reduces structural-risk concerns. Key near-term headwinds include limited ticketing contribution this year (mid-single-digit underlying growth with one-time secondary-related impacts), a ramp in Venue Nation preopening costs (~$50M this year vs ~$25M prior year) and remaining legal exposure on some claims. Operationally the company emphasized strong supply-demand dynamics, international expansion (arenas/stadiums), and progress on secondary-control tools (broker listings cut ~50%, >100 artists on face-value programs). Overall positives around demand, bookings, sponsorships and legal developments outweigh the transitory costs and remaining risks.Positive Updates
Company Guidance for Double-Digit AOI Growth in 2026
Management guided to double-digit AOI growth for 2026, citing strong visibility into sponsorships (over 70% booked and running double-digits ahead) and concert supply-demand dynamics.
Negative Updates
Ticketing Segment - Limited Contribution Expected in 2026
Management cautioned that ticketing is not expected to be a major driver in 2026: underlying mid-single-digit growth is expected but there are one-time headwinds (noted in secondary) that will limit near-term contribution.
Read all updates
Q4-2025 Updates
Positive
Negative
Company Guidance for Double-Digit AOI Growth in 2026
Management guided to double-digit AOI growth for 2026, citing strong visibility into sponsorships (over 70% booked and running double-digits ahead) and concert supply-demand dynamics.
Read all positive updates
Company Guidance
Live Nation guided to double‑digit AOI growth for 2026, driven mainly by double‑digit sponsorship growth (AOI >70% booked and running double digits ahead) and double‑digit concert growth, while Ticketmaster ticketing is expected to be muted this year (underlying mid‑single‑digit growth with one‑time secondary headwinds). FY25 Ticketmaster GTV finished up ~6% (concerts +9%, sports/other -1%) and management expects GTV to accelerate modestly in 2026; about 80% of shows are already booked, large venues and amphitheaters are up versus ’24/’25, arenas’ show counts are up double digits (U.S. driven) and stadiums are up double digits (international driven). Venue Nation preopening costs are ramping (about $25M in 2025 to ~$50M in 2026) with a multi‑year ramp to run‑rate as venues reach 2–3 years open; owner/operated fan‑count additions this year are ~20% from 2025 openings, ~33% from 2026 openings and ~50% organic. Other metrics cited: ~75% of U.S. tickets are under $100, broker listings for concerts on Ticketmaster have roughly halved, and over 100 artists are using face‑value exchange tools.Live Nation Entertainment Financial Statement Overview
Summary
Income Statement
63
Positive
Balance Sheet
32
Negative
Cash Flow
54
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 25.20B | 23.16B | 22.73B | 16.68B | 6.27B |
| Gross Profit | 5.80B | 5.83B | 5.48B | 4.33B | 1.91B |
| EBITDA | 2.07B | 1.62B | 1.78B | 1.22B | 87.45M |
| Net Income | 495.97M | 896.29M | 556.89M | 266.44M | -650.90M |
Balance Sheet | |||||
| Total Assets | 22.91B | 19.64B | 19.07B | 16.46B | 14.40B |
| Cash, Cash Equivalents and Short-Term Investments | 7.11B | 6.10B | 6.23B | 5.61B | 4.88B |
| Total Debt | 12.44B | 8.27B | 8.44B | 7.70B | 7.46B |
| Total Liabilities | 21.09B | 17.69B | 17.59B | 15.70B | 14.04B |
| Stockholders Equity | 271.01M | 173.26M | -17.15M | -367.57M | -582.65M |
Cash Flow | |||||
| Free Cash Flow | 333.61M | 1.05B | 887.72M | 1.48B | 1.62B |
| Operating Cash Flow | 1.40B | 1.73B | 1.36B | 1.83B | 1.78B |
| Investing Cash Flow | -1.23B | -854.28M | -695.80M | -784.69M | -566.96M |
| Financing Cash Flow | 406.51M | -658.55M | -87.28M | -143.34M | 1.17B |
Live Nation Entertainment Technical Analysis
Positive
160.59
Price Trends
154.80
Positive
147.40
Positive
151.30
Positive
Market Momentum
1.47
Negative
55.91
Neutral
83.61
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LYV, the sentiment is Positive. The current price of 160.59 is above the 20-day moving average (MA) of 154.87, above the 50-day MA of 154.80, and above the 200-day MA of 151.30, indicating a bullish trend. The MACD of 1.47 indicates Negative momentum. The RSI at 55.91 is Neutral, neither overbought nor oversold. The STOCH value of 83.61 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LYV.
Live Nation Entertainment Risk Analysis
Live Nation Entertainment disclosed 24 risk factors in its most recent earnings report. Live Nation Entertainment reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Live Nation Entertainment Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $175.68B | 21.11 | 11.35% | 1.10% | 3.61% | 152.34% | |
68 Neutral | $24.59B | 34.54 | 16.22% | 0.75% | 14.91% | 9.30% | |
62 Neutral | $38.26B | 86.44 | 4.89% | 1.07% | 56.31% | ― | |
62 Neutral | $68.05B | 98.11 | 2.05% | ― | -4.29% | ― | |
61 Neutral | $14.89B | 22.61 | 48.36% | 2.47% | 4.37% | -16.22% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
59 Neutral | $38.03B | 66.61 | 157.65% | ― | 5.39% | 36.94% |
* Communication Services Sector Average
LYV
Live Nation Entertainment
160.59
32.19
25.07%
DIS
Walt Disney
99.17
15.44
18.44%
TKO
TKO Group Holdings
197.37
51.28
35.10%
FOXA
Fox
61.02
11.96
24.37%
WMG
Warner Music Group
28.50
-0.05
-0.18%
WBD
Warner Bros
27.44
19.42
242.14%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.