Live Nation Entertainment, Inc. (LYV) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+4.7%

$185.79

vs $177.49 price

Levered DCF

$149.16

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

1.83

Grey zone

Rating

C+

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	-593.75×	46.75×	69.33×	105.67×	-38.73×	-9.05×	-3,573.5×	-547.22×
P/B	121.91×	172×	-1,247.94×	-42.65×	-44.62×	-33.06×	13.1×	9.3×
P/S	1.31×	1.29×	0.94×	0.94×	4.15×	8.38×	1.3×	0.95×
EV / EBITDA	19.33×	19.8×	13.26×	14.58×	326.72×	-17.05×	22.06×	16.19×
Gross margin	23.0%	25.2%	24.1%	26.0%	30.5%	24.6%	26.7%	26.1%
Operating margin	5.9%	3.6%	4.8%	4.3%	-6.7%	-88.8%	2.8%	2.5%
Net margin	2.0%	3.9%	2.5%	1.6%	-10.4%	-92.7%	0.6%	0.6%
Current ratio	1×	0.99×	0.96×	0.98×	0.97×	0.96×	1.02×	1.03×
Debt / equity	45.91×	47.74×	-492.06×	-20.94×	-12.8×	-13.7×	4.19×	2.56×
Interest coverage	4.7×	2.53×	3.1×	2.59×	-1.48×	-7.29×	2.06×	1.93×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	183.0%	517.3%	-3247.6%	-72.5%	111.7%	365.5%	6.1%	5.5%
Return on invested capital	7.9%	7.7%	8.1%	6.2%	-5.0%	-23.4%	3.0%	3.9%
Return on assets	2.2%	4.6%	2.9%	1.6%	-4.5%	-16.3%	0.6%	0.7%
Free cash flow yield	0.9%	3.5%	4.1%	9.5%	6.2%	-8.4%	0.7%	6.5%
Earnings yield	1.5%	3.0%	2.6%	1.7%	-2.5%	-11.1%	0.5%	0.6%
Enterprise value	$38.4B	$32B	$23.6B	$17.8B	$28.6B	$19.5B	$17.3B	$10.7B
Net debt / EBITDA	2.69×	1.35×	1.24×	1.72×	29.45×	-3.43×	2.97×	0.67×
Cash conversion cycle (days)	-10	-15	-11	-24	-72	-112	-14	-22