DIS vs LYV: Walt Disney and Live Nation Entertainment compared
The short version
From the latest prices and each company's SEC filings. Who's ahead on each measure, not which to buy.
- Walt Disney is the larger company, worth $183.7B, about 4.8 times Live Nation Entertainment.
- Live Nation Entertainment grew revenue faster over the last year (+9.4% vs +6.8%).
- Walt Disney keeps more of each dollar of revenue as operating profit (18.4% vs 3.0%).
- Live Nation Entertainment's price assumes faster free cash flow growth: about 28% a year, against 4% for Walt Disney (reverse DCF).
Side by side
The stronger figure is shaded where higher (or, for valuation multiples, lower) reads as better. How the implied growth works.
| Measure | DIS | LYV |
|---|---|---|
| Market cap | $183.7B | $38.4B |
| Share price | $108.05 | $170.33 |
| Revenue (last fiscal year) | $94.4B | $25.2B |
| Free cash flow (last fiscal year) | $10.1B | $334M |
| Revenue growth, last year | +6.8% | +9.4% |
| Revenue growth per year, last 5 fiscal years | +8.8% | +41.6% |
| Operating margin | 18.4% | 3.0% |
| Net margin | 8.7% | 0.51% |
| Return on equity | 7.8% | 163.6% |
| P/E (trailing) | 16.9x | — |
| Price / free cash flow | 18.2x | 115.0x |
| EV / EBITDA | 14.1x | 24.4x |
| FCF growth the price implies | 3.8% | 28.3% |
| Dividend yield | 1.4% | — |
| Debt / equity | 0.80x | 333.1x |
| Fundamental grade | C | D |
| Superinvestors holding it | 0 | 0 |
| Insider purchases, last 12 months | 10 | 4 |
Results from SEC filings
Revenue and free cash flow by fiscal year, from each company's 10-K filings.
Walt Disney
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $67.4B | $2.0B | 11.5% |
| 2022 | $82.7B | $1.1B | 14.7% |
| 2023 | $88.9B | $4.9B | 14.5% |
| 2024 | $91.4B | $8.6B | 17.1% |
| 2025 | $94.4B | $10.1B | 18.6% |
Live Nation Entertainment
| Year | Revenue | Free cash flow | Op. margin |
|---|---|---|---|
| 2021 | $6.3B | $1.6B | -6.7% |
| 2022 | $16.7B | $1.5B | 4.3% |
| 2023 | $22.7B | $924M | 4.8% |
| 2024 | $23.2B | $1.1B | 3.6% |
| 2025 | $25.2B | $334M | 5.0% |
Where the revenue comes from
Walt Disney · by segments, 2025
Entertainment Segment$42.5B44%
Experiences Segment$36.2B38%
Sports Segment$17.7B18%
Live Nation Entertainment · by segments, 2025
Concerts$20.9B83%
Ticketing$3.1B12%
Sponsorship and Advertising$1.3B5%
Compare them in fullFifteen years of statements, quarterly results, DCF and IRR models, and any number of peers side by side.
Open DIS in InvestinglyQuestions
Which is bigger, Walt Disney or Live Nation Entertainment?
Walt Disney (DIS), at $183.7B against $38.4B.
Which grows faster, DIS or LYV?
Live Nation Entertainment: revenue grew +9.4% over the last year, against +6.8%.
Prices and ratios as of the last daily update; statements from SEC filings. Information only, not investment advice.