Live Nation Entertainment

Communication Services Movies & Entertainment Beverly Hills, California Last filing Feb 19, 2026 · FY2025

                    Revenue
                    FY2025
                
$25.2B
                    3y CAGR +14.7%
                    
                    P81
                    
                    +8.8%
                    
                    Net income
                    FY2025
                
$496.0M
                    Net margin +2.0%
                    
                    P19
                    
                    -44.7%
                    
                    Total assets
                    FY2025
                
$22.9B
                    ROA +2.2%
                    
                    P24
                    
                    +16.7%
                    
                    Operating cash flow
                    FY2025
                
$1.4B
                    FCF margin +1.3%
                    
                    P10
                    
                    -19.1%

17 yrs · FY2009–FY2025 8 filed · 1 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

29 accounts · 3 years

Total assets $22.9B

Total liabilities ~$22.6B

Shareholders equity $271.0M

Account	2025	2024	2023
Assets
Cash and Cash Equivalents	31.0%	31.0%	32.7%
Accounts Receivable	8.8%	8.9%	10.8%
Prepaid Expenses	6.3%	6.4%	6.0%
Other Current Assets	1.8%	1.0%	0.7%
Total Current Assets	47.9%	47.3%	50.2%
Property,Plant and Equipment	14.9%	12.4%	11.0%
Operating Lease Assets	8.2%	8.2%	8.4%
Goodwill	12.6%	13.3%	14.1%
Intangible Assets	6.3%	7.0%	8.1%
Other Noncurrent Assets	10.1%	11.7%	8.2%
Total Assets	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	8.5%	9.5%	11.2%
Accrued Liabilities	15.5%	16.8%	15.8%
Deferred Revenue	19.6%	18.8%	17.8%
Current Portion of Long Term Debt	2.6%	1.3%	5.9%
Other Current Liabilities	2.1%	1.1%	0.7%
Total Current Liabilities	48.1%	47.7%	52.2%
Long Term Debt	33.2%	31.5%	28.6%
Operating Lease Liabilities Noncurrent	8.9%	8.6%	8.8%
Other Noncurrent Liabilities	1.8%	2.4%	—
Equity
Common Stock	0.0%	0.0%	0.0%
Additional Paid In Capital	6.4%	10.5%	12.4%
Retained Earnings	-4.5%	-7.9%	-12.6%
Treasury Stock	0.1%	0.0%	0.0%
Accumulated Other Comprehensive Income	-0.5%	-1.7%	0.1%
Total Stockholders Equity	1.2%	0.9%	-0.1%
Noncontrolling Interest	2.7%	3.3%	3.2%
Temporary Equity and Other	4.0%	5.7%	4.7%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 3 years

Revenue $25.2B

Operating income $1.3B

Net income $496.0M

Account	2025	2024	2023
IncomeStatement
Revenues Total Revenue	110.0%	117.9%	119.3%
Expenses Selling,General and Administrative	17.9%	20.6%	18.6%
Expenses Depreciation and Amortization	2.8%	2.8%	2.7%
Expenses Other Operating Expenses	83.9%	90.3%	92.3%
Other Income Expense Operating Income	5.5%	4.2%	5.6%
Other Income Expense Interest Income	0.7%	0.8%	1.2%
Other Income Expense Interest Expense	1.4%	1.7%	1.8%
Other Income Expense Other Income/expense	-0.2%	0.4%	-0.3%
Other Income Expense Income Before Tax	4.5%	3.8%	4.7%
Income Tax Income Tax Expense	1.5%	-2.0%	0.8%
net Income Other Items Below Tax	-3.3%	-2.5%	-2.2%
net Income net Income	2.2%	4.6%	3.0%
net Income Comprehensive Income	3.1%	2.7%	3.6%
Earnings Per Share Basic Eps	-0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	-0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	1.0%	1.2%	1.2%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 3 years

Operating cash flow $1.4B

Investing cash flow $-1.2B

Financing cash flow $406.5M

Account	2025	2024	2023
CashFlow
Operating Activities net Income	3.0%	5.8%	3.7%
Operating Activities Depreciation and Amortization	3.3%	3.3%	3.2%
Operating Activities Stock Based Compensation	0.7%	0.6%	0.6%
Operating Activities Deferred Income Taxes	-0.1%	-3.6%	-0.2%
Operating Activities Changes In Operating Assets and Liabilities	-1.1%	3.3%	-0.3%
Operating Activities Other Non Cash Items	0.3%	-0.6%	0.2%
Operating Activities net Cash From Operating Activities	6.1%	8.8%	7.1%
Investing Activities Capital Expenditures	-4.6%	-3.3%	-2.3%
Investing Activities Business Acquisitions	-0.3%	-0.5%	-0.1%
Investing Activities Purchases of Investments	-0.2%	-0.2%	-0.3%
Investing Activities Other Investing Activities	-0.2%	-0.4%	-1.0%
Investing Activities net Cash From Investing Activities	-5.4%	-4.3%	-3.6%
Financing Activities Proceeds From Debt	16.2%	8.5%	5.6%
Financing Activities Repayment of Debt	-8.9%	-10.0%	-3.8%
Financing Activities Repurchase of Common Stock	-0.1%	0.0%	0.0%
Financing Activities Proceeds From Stock Issuance	0.0%	0.1%	0.1%
Financing Activities Tax Withholding On Stock Based Compensation	-0.6%	-0.3%	-0.0%
Financing Activities Other Financing Activities	-4.9%	-1.7%	-2.2%
Financing Activities net Cash From Financing Activities	1.8%	-3.4%	-0.5%
Cash Reconciliation Effect of Exchange Rate On Cash	1.9%	-1.8%	0.2%
Cash Reconciliation net Change In Cash	4.4%	-0.7%	3.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 3 years

Ratio	2025	2024	2023
Profitability
Gross margin	—	—	—
Operating margin	+5.0%	+3.6%	+4.7%
Net margin	+2.0%	+3.9%	+2.5%
FCF margin	+1.3%	+4.7%	+4.1%
Growth
Revenue CAGR (3y)	+14.7%	+54.6%	+130.4%
Returns
ROE	+183.0%	+517.3%	-3284.8%
ROA	+2.2%	+4.6%	+3.0%
ROIC	+60.9%	+159.8%	+254.1%
Liquidity
Current ratio	1.00x	0.99x	0.96x
Quick ratio	0.83x	0.84x	0.83x
Leverage
D/E	83.55x	112.35x	-1113.32x
Interest coverage	3.96x	2.53x	3.04x
Efficiency
Asset turnover	1.10x	1.18x	1.19x
Cash conversion cycle	—	—	—

Valuation

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FY2025 fundamentals · no price

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Live Nation Entertainment

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