Live Nation Entertainment, Inc. (LYV) intrinsic value & 10-year financials
Live Nation Entertainment, Inc. (LYV) has a Graham intrinsic value of $81.79 per share. At $170.51 on Oct 17, 2026, the stock trades 108% above that value. Over the last 10 fiscal years revenue grew 13.1% a year to $25.2B, with an average return on invested capital of -49.8%.
- Graham intrinsic value
- $81.79
- Share price (Oct 17, 2026)
- $170.51
- Price vs Graham value
- 108% above
- Market cap
- $39.5B
- Revenue (FY2025)
- $25.2B
- Revenue growth (10-yr CAGR)
- 13.1%
- ROIC (10-yr avg)
- -49.8%
- Free cash flow (FY2025)
- $333.6M
LYV 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $25.2B | $496.0M | -$0.24 | $333.6M | 5.0% | 142.3% |
| FY2024 | $23.2B | $896.3M | $2.74 | $1.1B | 3.6% | -308.2% |
| FY2023 | $22.7B | $563.3M | $1.37 | $932.2M | 4.7% | -112.1% |
| FY2022 | $16.7B | $296.0M | $0.64 | $1.5B | 4.4% | -109.1% |
| FY2021 | $6.3B | -$650.9M | -$3.09 | $1.6B | -6.7% | -54.6% |
| FY2020 | $1.9B | -$1.7B | -$8.12 | -$1.3B | -88.8% | -85.8% |
| FY2019 | $11.5B | $69.9M | — | $146.2M | 2.8% | 9.7% |
| FY2018 | $10.8B | $60.2M | — | $701.8M | 2.5% | 11.7% |
| FY2017 | $10.3B | -$6.0M | — | $384.6M | 0.9% | 2.9% |
| FY2016 | $8.4B | $2.9M | — | $423.7M | 2.3% | 5.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Live Nation Entertainment is a consistent compounder, expanding top-line revenue at 13.1% annually over the past decade.
Live Nation Entertainment has historically struggled to out-earn its cost of capital, averaging just -19.3% ROIC.
Live Nation Entertainment has not shown aggressive share repurchases (>10% retirement) or a major balance-sheet leverage increase (>50% net debt growth) over the 10-year window.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Live Nation Entertainment is modeled at 13.1% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $81.79 per share.