Live Nation Entertainment (LYV) financial statements
Live Nation Entertainment reported revenue of $25.2B in fiscal 2025, up 13.9% a year over 9 years.
Net income was $496M and the operating margin 5.0%, against 2.5% in 2016.
Free cash flow was $334M, and the company returned $24M in net buybacks.
The diluted share count rose 15% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Live Nation Entertainment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $7.8B | $9.7B | $10.8B | $11.5B | $1.9B | $6.3B | $16.7B | $22.7B | $23.2B | $25.2B |
| Selling, general and admin | $1.5B | $1.9B | $2.0B | $2.1B | $1.5B | $1.8B | $3.0B | $3.5B | $4.0B | $4.1B |
| Operating income | $195M | $91M | $273M | $325M | -$1.7B | -$418M | $722M | $1.1B | $825M | $1.3B |
| Interest expense | $107M | $108M | $141M | $158M | $227M | $282M | $278M | $350M | $326M | $316M |
| Pre-tax income | $48M | -$9M | $131M | $185M | -$1.9B | -$611M | $491M | $913M | $739M | $1.0B |
| Income tax | $28M | -$17M | $41M | $67M | -$29M | -$2M | $116M | $209M | -$392M | $340M |
| Net income | $3M | -$6M | $60M | $70M | -$1.7B | -$651M | $266M | $557M | $896M | $496M |
| EPS (diluted) | -$0.23 | -$0.48 | -$0.09 | -$0.02 | -$8.12 | -$3.09 | $0.52 | $1.34 | $2.74 | -$0.24 |
| Diluted shares | 202M | 205M | 207M | 210M | 212M | 217M | 232M | 231M | 236M | 232M |
| Operating margin | 2.5% | 0.9% | 2.5% | 2.8% | -88.8% | -6.7% | 4.3% | 4.8% | 3.6% | 5.0% |
| Net margin | 0.0% | -0.1% | 0.6% | 0.6% | -92.7% | -10.4% | 1.6% | 2.5% | 3.9% | 2.0% |
Balance sheet
Fiscal years, from Live Nation Entertainment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $1.5B | $1.8B | $2.4B | $2.5B | $2.5B | $4.9B | $5.6B | $6.2B | $6.1B | $7.1B |
| Receivables | $569M | $725M | $829M | $995M | $487M | $1.1B | $1.5B | $2.0B | $1.7B | $2.0B |
| Inventory | $15M | $17M | $13M | $16M | $22M | $34M | $39M | $45M | $50M | $57M |
| Total current assets | $2.7B | $3.2B | $3.8B | $4.2B | $3.6B | $6.7B | $8.2B | $9.5B | $9.3B | $11.0B |
| Property, plant and equipment | $752M | $886M | $947M | $1.1B | $1.1B | $1.1B | $1.5B | $2.1B | $2.4B | $3.4B |
| Goodwill | $1.7B | $1.8B | $1.8B | $2.0B | $2.1B | $2.6B | $2.5B | $2.7B | $2.6B | $2.9B |
| Total assets | $6.8B | $7.5B | $8.5B | $11.0B | $10.6B | $14.4B | $16.5B | $19.0B | $19.6B | $22.9B |
| Total current liabilities | $2.5B | $3.6B | $3.7B | $4.1B | $3.8B | $6.9B | $8.3B | $10.0B | $9.4B | $11.0B |
| Long-term debt | $2.3B | $2.0B | $2.7B | $3.3B | $4.9B | $5.1B | $5.3B | $5.5B | $6.2B | $7.6B |
| Total liabilities | $5.4B | $6.1B | $7.2B | $9.5B | $10.7B | $14.6B | $16.4B | $18.5B | $18.8B | $22.0B |
| Shareholders' equity | $1.1B | $1.2B | $1.1B | $1.1B | -$472M | -$583M | -$368M | -$52M | $173M | $271M |
| Net debt | $733M | $127M | $361M | $801M | $2.3B | $261M | -$323M | -$773M | $82M | $518M |
Cash flow
Fiscal years, from Live Nation Entertainment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $599M | $624M | $942M | $470M | -$1.1B | $1.8B | $1.8B | $1.4B | $1.7B | $1.4B |
| Capital spending | $174M | $238M | $240M | $324M | $214M | $153M | $347M | $439M | $647M | $1.1B |
| Free cash flow | $425M | $385M | $702M | $146M | -$1.3B | $1.6B | $1.5B | $924M | $1.1B | $334M |
| Stock-based compensation | $33M | $43M | $46M | $49M | $117M | $209M | $110M | $116M | $110M | $155M |
| Share buybacks (net) | — | — | — | — | — | — | — | $0 | $0 | -$24M |
| Net borrowing | -$607M | -$111M | -$400M | -$437M | -$31M | -$110M | -$46M | -$731M | -$2.0B | -$2.0B |
| Free cash flow margin | 5.4% | 4.0% | 6.5% | 1.3% | -69.7% | 26.0% | 8.9% | 4.1% | 4.7% | 1.3% |
Questions
What was Live Nation Entertainment's revenue in 2025?
$25.2B in fiscal 2025, from its 10-K filing.
How much free cash flow does Live Nation Entertainment generate?
$334M in fiscal 2025 (operating cash flow minus capital spending).
From Live Nation Entertainment's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.