Cash flow Live Nation Entertainment, Inc.

Equities

LYV

US5380341090

Entertainment Production

Market Closed - Nyse Other stock markets 04:00:02 2025-01-13 pm EST			5-day change	1st Jan Change
130.61 ^USD	+1.63%		+1.04%	+0.86%

Jan. 10	UK targets ticket resellers with new rules to protect fans	RE
Dec. 19	Benchmark Adjusts Price Target on Live Nation Entertainment to $160 From $144, Keeps Buy Rating	MT

aa.YW0fxu0GHTK5TM6-WeOWlsbVrqb3y_3ouXqQL6NH0Go.NRRWsINeLljyf7vPNpvlu4u3-fTD_JaS-hDpRcA34gAOF3ysrmoqAc44hw

Published financial data: LIVE NATION ENTERTAINMENT, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	11.55B	1.86B	6.27B	16.68B	22.75B
Total Revenues	11.55B	1.86B	6.27B	16.68B	22.75B
Cost of Goods Sold, Total	8.47B	1.4B	4.36B	12.34B	17.29B
Gross Profit	3.08B	459M	1.91B	4.34B	5.46B
Selling General & Admin Expenses, Total	2.31B	1.65B	1.92B	3.14B	3.85B
Depreciation & Amortization - (IS)	417M	461M	416M	450M	517M
Other Operating Expenses, Total	2.72B	2.11B	2.34B	3.59B	4.36B
Operating Income	356M	-1.65B	-426M	758M	1.09B
Interest Expense, Total	-158M	-227M	-282M	-278M	-350M
Interest And Investment Income	14.41M	11.74M	6.62M	77.62M	238M
Net Interest Expenses	-143M	-215M	-276M	-201M	-112M
Income (Loss) On Equity Invest.	5.46M	-5.46M	2.52M	10.57M	-5.46M
Currency Exchange Gains (Loss)	3.2M	-	-20.6M	-55.8M	-
Other Non Operating Income (Expenses)	-5.28M	17.08M	1.51M	18.97M	-34.93M
EBT, Excl. Unusual Items	216M	-1.86B	-718M	531M	940M
Merger & Related Restructuring Charges	-	-	-	-1M	-300K
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-	-	98.98M	448K	-341K
Gain (Loss) On Sale Of Assets	2.37M	-503K	1.21M	32.08M	13.93M
Asset Writedown	-26.75M	-23.63M	-	-	-
Legal Settlements	-	-	-	-	-
Other Unusual Items	-6.7M	24.45M	6.73M	-56.7M	-58.66M
EBT, Incl. Unusual Items	185M	-1.86B	-611M	505M	895M
Income Tax Expense	66.89M	-28.88M	-2.48M	96.25M	160M
Earnings From Continuing Operations	118M	-1.83B	-609M	409M	734M
Net Income to Company	118M	-1.83B	-609M	409M	734M
Minority Interest	-48.32M	103M	-42.12M	-113M	-171M
Net Income - (IS)	69.89M	-1.72B	-651M	296M	563M
Preferred Dividend and Other Adjustments	74.77M	-1.18M	19.77M	147M	247M
Net Income to Common Incl Extra Items	-4.88M	-1.72B	-671M	149M	316M
Net Income to Common Excl. Extra Items	-4.88M	-1.72B	-671M	149M	316M
Per Share Items
Net EPS - Basic	-0.02	-8.12	-3.09	0.66	1.38
Basic EPS - Continuing Operations	-0.02	-8.12	-3.09	0.66	1.38
Basic Weighted Average Shares Outstanding	210M	212M	217M	225M	229M
Net EPS - Diluted	-0.02	-8.12	-3.09	0.64	1.37
Diluted EPS - Continuing Operations	-0.02	-8.12	-3.09	0.64	1.37
Diluted Weighted Average Shares Outstanding	210M	212M	217M	232M	231M
Normalized Basic EPS	0.41	-4.98	-2.26	0.97	1.82
Normalized Diluted EPS	0.41	-4.98	-2.26	0.94	1.8
American Depositary Receipts Ratio (ADR)	0.2	0.2	0.2	0.2	0.2
Supplemental Items
EBITDA	773M	-1.19B	-9.52M	1.21B	1.61B
EBITA	553M	-1.44B	-232M	982M	1.34B
EBIT	356M	-1.65B	-426M	758M	1.09B
EBITDAR	1.09B	-928M	318M	1.62B	2.08B
Effective Tax Rate - (Ratio)	36.14	1.56	0.41	19.04	17.91
Current Domestic Taxes	5.52M	1.02M	-1.56M	5.42M	24.42M
Current Foreign Taxes	61.83M	7.98M	8.71M	83.63M	180M
Total Current Taxes	67.36M	9M	7.16M	89.06M	204M
Deferred Domestic Taxes	5.88M	-17.1M	7.8M	7.6M	7.19M
Deferred Foreign Taxes	-6.34M	-20.77M	-17.43M	-397K	-51.21M
Total Deferred Taxes	-465K	-37.88M	-9.64M	7.2M	-44.02M
Normalized Net Income	86.79M	-1.06B	-491M	218M	416M
Interest on Long-Term Debt	28.75M	43.5M	45.96M	25.46M	31.37M
Supplemental Operating Expense Items
Advertising Expense	27.8M	14.8M	18.1M	32M	47.7M
Selling and Marketing Expenses	27.8M	14.8M	18.1M	32M	47.7M
General and Administrative Expenses	169M	102M	160M	238M	331M
Research And Development Expense From Footnotes	27.51M	27.65M	18.76M	10.32M	-
Net Rental Expense, Total	318M	264M	328M	417M	473M
Imputed Operating Lease Interest Expense	105M	84.96M	106M	123M	164M
Imputed Operating Lease Depreciation	213M	179M	221M	294M	309M
Stock-Based Comp., G&A Exp. (Total)	26.84M	28.27M	47.49M	64.84M	75.21M
Stock-Based Comp., SG&A Exp. (Total)	21.95M	88.62M	162M	45.21M	40.75M
Total Stock-Based Compensation	48.78M	117M	209M	110M	116M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	2.47B	2.54B	4.88B	5.61B	6.23B
Total Cash And Short Term Investments	2.47B	2.54B	4.88B	5.61B	6.23B
Accounts Receivable, Total	995M	487M	1.07B	1.47B	2.07B
Notes Receivable	34.84M	14.56M	19.21M	34.23M	43.85M
Total Receivables	1.03B	501M	1.09B	1.5B	2.11B
Inventory	16.11M	22M	33.83M	38.72M	45.14M
Prepaid Expenses	667M	577M	655M	950M	1.15B
Restricted Cash	3.88M	8.65M	3.06M	5.92M	7.09M
Other Current Assets, Total	6.06M	2.91M	21.8M	58.99M	33.18M
Total Current Assets	4.19B	3.65B	6.68B	8.16B	9.58B
Gross Property Plant And Equipment	3.94B	4.13B	4.36B	4.91B	5.5B
Accumulated Depreciation	-1.42B	-1.6B	-1.73B	-1.85B	-1.79B
Net Property Plant And Equipment	2.52B	2.53B	2.63B	3.06B	3.71B
Long-term Investments	168M	170M	294M	409M	447M
Goodwill	2B	2.13B	2.59B	2.53B	2.69B
Other Intangibles, Total	1.24B	1.22B	1.4B	1.42B	1.54B
Loans Receivable Long-Term	129M	88.89M	69.37M	92.63M	176M
Deferred Charges Long-Term	-	-	-	-	-
Other Long-Term Assets, Total	729M	801M	738M	792M	934M
Total Assets	10.98B	10.59B	14.4B	16.46B	19.07B
Liabilities
Accounts Payable, Total	100M	86.36M	111M	180M	267M
Accrued Expenses, Total	1.34B	699M	1.53B	2.28B	2.9B
Current Portion of Long-Term Debt	37.8M	53.42M	585M	620M	1.13B
Current Portion of Leases	122M	107M	124M	140M	158M
Unearned Revenue Current, Total	1.39B	1.84B	2.77B	3.13B	3.4B
Other Current Liabilities	1.11B	1.01B	1.74B	1.94B	2.1B
Total Current Liabilities	4.11B	3.8B	6.86B	8.3B	9.96B
Long-Term Debt	3.27B	4.85B	5.14B	5.28B	5.45B
Long-Term Leases	1.38B	1.45B	1.61B	1.66B	1.69B
Unearned Revenue Non Current	34.39M	88.64M	117M	56.95M	60.56M
Deferred Tax Liability Non Current	178M	171M	237M	306M	325M
Other Non Current Liabilities	96.26M	93.87M	78.35M	93.49M	103M
Total Liabilities	9.06B	10.45B	14.04B	15.7B	17.59B
Common Stock, Total	2.11M	2.14M	2.22M	2.28M	2.3M
Additional Paid In Capital	2.25B	2.39B	2.9B	2.7B	2.37B
Retained Earnings	-949M	-2.68B	-3.33B	-2.97B	-2.41B
Treasury Stock	-6.86M	-6.86M	-6.86M	-6.86M	-6.86M
Comprehensive Income and Other	-146M	-177M	-148M	-90.08M	27.45M
Total Common Equity	1.15B	-472M	-583M	-368M	-17.15M
Minority Interest	768M	610M	946M	1.13B	1.5B
Total Equity	1.91B	139M	363M	764M	1.48B
Total Liabilities And Equity	10.98B	10.59B	14.4B	16.46B	19.07B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	213M	216M	224M	230M	229M
ECS Total Common Shares Outstanding	213M	216M	224M	230M	232M
Book Value / Share	5.39	-2.18	-2.6	-1.6	-0.07
Tangible Book Value	-2.09B	-3.83B	-4.57B	-4.32B	-4.25B
Tangible Book Value Per Share	-9.84	-17.68	-20.41	-18.74	-18.32
Total Debt	4.81B	6.46B	7.46B	7.7B	8.44B
Net Debt	2.34B	3.92B	2.58B	2.09B	2.21B
Debt Equivalent Oper. Leases	2.54B	2.11B	2.62B	3.34B	3.78B
Minority Interest, Total (Incl. Fin. Div)	768M	610M	946M	1.13B	1.5B
Equity Method Investments, Total	168M	170M	294M	409M	447M
Account Code - Inventory Valuation	3	3	3	3	3
Land - (BS)	1.18B	1.24B	1.32B	1.65B	2.04B
Machinery, Total	1.18B	1.31B	1.32B	1.45B	1.54B
Full Time Employees	10.5K	8.2K	10.2K	12.8K	14.7K
Accumulated Allowance for Doubtful Accounts (Supple)	50.52M	72.9M	50.49M	63.29M	82.35M

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	69.89M	-1.72B	-651M	296M	563M
Depreciation & Amortization - CF	220M	246M	223M	226M	267M
Amortization of Goodwill and Intangible Assets - (CF)	197M	216M	193M	224M	250M
Depreciation & Amortization, Total	417M	461M	416M	450M	517M
Amortization of Deferred Charges, Total - (CF)	104M	80.74M	112M	95.49M	101M
(Gain) Loss From Sale Of Asset	-2.37M	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-	-	-83.58M	1.36M	-48.86M
Asset Writedown & Restructuring Costs	26.75M	23.63M	-	-	-
(Income) Loss On Equity Investments - (CF)	14.15M	18.28M	11.19M	14.91M	30.52M
Stock-Based Compensation (CF)	48.78M	117M	209M	110M	116M
Provision and Write-off of Bad Debts	27.93M	43.08M	-17.83M	68.61M	78.34M
Other Operating Activities, Total	50.9M	-182M	10.41M	158M	174M
Change In Accounts Receivable	-160M	491M	-485M	-464M	-551M
Change In Accounts Payable	-45.92M	-1.38B	1.32B	1B	460M
Change in Unearned Revenues	88.29M	827M	848M	368M	133M
Change in Other Net Operating Assets	-170M	142M	95.53M	-268M	-203M
Cash from Operations	470M	-1.08B	1.78B	1.83B	1.37B
Capital Expenditure	-324M	-214M	-153M	-347M	-439M
Sale of Property, Plant, and Equipment	-	-	-	-	-
Cash Acquisitions	-235M	-41.08M	-384M	-257M	-17.53M
Sale (Purchase) of Intangible assets	-42.26M	-8.86M	-7.1M	-6.08M	-36.65M
Investment in Marketable and Equity Securities, Total	-57.28M	7.76M	-20.16M	-87.32M	-53.4M
Other Investing Activities, Total	-32.82M	31.87M	-2.72M	-86.89M	-150M
Cash from Investing	-691M	-224M	-567M	-785M	-696M
Long-Term Debt Issued, Total	937M	1.61B	904M	122M	1.06B
Total Debt Issued	937M	1.61B	904M	122M	1.06B
Long-Term Debt Repaid, Total	-437M	-30.99M	-110M	-45.79M	-731M
Total Debt Repaid	-437M	-30.99M	-110M	-45.79M	-731M
Issuance of Common Stock	14.1M	30.65M	480M	35.78M	19.26M
Repurchase of Common Stock	-15.35M	-47.54M	-45.84M	-76.92M	-9.48M
Other Financing Activities, Total	-170M	-209M	-57.19M	-179M	-427M
Cash from Financing	329M	1.35B	1.17B	-143M	-87.28M
Foreign Exchange Rate Adjustments	-11.63M	29.56M	-43.58M	-179M	38.87M
Net Change in Cash	96.04M	72.2M	2.34B	725M	627M
Supplemental Items
Cash Income Tax Paid (Refund)	66.94M	26.15M	15.91M	43.86M	175M
Levered Free Cash Flow	363M	-440M	1.96B	1.24B	1.05B
Unlevered Free Cash Flow	437M	-331M	2.1B	1.4B	1.26B
Change In Net Working Capital	-34.13M	-299M	-1.82B	-643M	-331M
Net Debt Issued / Repaid	500M	1.58B	794M	76.46M	330M

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	2.28	-9.58	-2.13	3.07	3.84
Return on Total Capital	3.97	-15.52	-3.69	5.82	7.43
Return On Equity %	6.59	-178.13	-242.46	72.61	65.43
Return on Common Equity	-0.43	-511.34	127.21	-31.41	-164.19
Margin Analysis
Gross Profit Margin %	26.68	24.65	30.51	26.04	23.99
SG&A Margin	19.98	88.7	30.66	18.8	16.91
EBITDA Margin %	6.7	-64.05	-0.15	7.24	7.08
EBITA Margin %	4.79	-77.25	-3.71	5.89	5.9
EBIT Margin %	3.08	-88.84	-6.79	4.54	4.8
Income From Continuing Operations Margin %	1.02	-98.21	-9.71	2.45	3.23
Net Income Margin %	0.61	-92.66	-10.38	1.77	2.48
Net Avail. For Common Margin %	-0.04	-92.59	-10.7	0.89	1.39
Normalized Net Income Margin	0.75	-56.81	-7.83	1.31	1.83
Levered Free Cash Flow Margin	3.14	-23.65	31.24	7.46	4.63
Unlevered Free Cash Flow Margin	3.78	-17.79	33.46	8.4	5.52
Asset Turnover
Asset Turnover	1.19	0.17	0.5	1.08	1.28
Fixed Assets Turnover	6.66	0.74	2.43	5.86	6.72
Receivables Turnover (Average Receivables)	12.66	2.51	8.07	13.18	12.87
Inventory Turnover (Average Inventory)	590.44	73.61	156.06	340.11	412.37
Short Term Liquidity
Current Ratio	1.02	0.96	0.97	0.98	0.96
Quick Ratio	0.84	0.8	0.87	0.85	0.83
Operating Cash Flow to Current Liabilities	0.11	-0.29	0.26	0.22	0.14
Days Sales Outstanding (Average Receivables)	28.82	145.65	45.22	27.7	28.35
Days Outstanding Inventory (Average Inventory)	0.62	4.97	2.34	1.07	0.88
Average Days Payable Outstanding	4.1	24.25	8.23	4.3	4.72
Cash Conversion Cycle (Average Days)	25.34	126.38	39.33	24.48	24.52
Long Term Solvency
Total Debt/Equity	251.14	4.66K	2.05K	1.01K	569.8
Total Debt / Total Capital	71.52	97.9	95.35	90.98	85.07
LT Debt/Equity	242.79	4.54K	1.86K	908.63	482.5
Long-Term Debt / Total Capital	69.14	95.47	86.29	81.99	72.04
Total Liabilities / Total Assets	82.57	98.69	97.48	95.36	92.24
EBIT / Interest Expense	2.26	-7.29	-1.51	2.72	3.12
EBITDA / Interest Expense	6.92	-4.09	1.13	5.83	5.95
(EBITDA - Capex) / Interest Expense	4.87	-5.04	0.59	4.59	4.69
Total Debt / EBITDA	4.41	-6.96	23.44	4.74	4.05
Net Debt / EBITDA