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Live Nation Entertainment, Inc. — Intrinsic Value & Fair Price

LYV
NYSECommunication ServicesEntertainmentCIK 0001335258livenationentertainment.comAbout LYV
Last close · Oct 16, 2026170.51−2.00 (−1.16%)
Market cap$39.7B
Model value · DCF · Perpetuity growth · 5y
103.08
Live Nation Entertainment closed at $170.51 — overvalued by 65% vs model.
67.13the model's range220.86

DCF · Perpetuity growth · 5y leads for mature & stable — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models
116.43 – 454.58
Wall St. target
209.00 18% below
Above model, 1y
20 of 20 days

Price and model value

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How it is valued

Valued asMature & Stable
Low/slowing growth (~5% recent)Decelerated from ~68% 5y CAGRThin margins (2.0% net margin)Highly cyclical earningsHigh leverage (D/E 30.3x)
What growth the price implies: the reverse DCF

Key figures

FY2025
P/E
—
EV / EBITDA
19.7×
FCF yield
0.8%
Dividend yield, TTM
0.00%
Beta
1.17
Cost of capital (WACC)
8.63%
Full financials

Analyst actions

third-party, quoted
10-13Bernstein · target220.00
07-31Susquehanna · target187.00
07-31Deutsche Bank · target205.00
07-21Susquehanna · “Neutral” from “Positive”downgrade
Ratings, targets and estimates

Comparable companies

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About Live Nation Entertainment

Live Nation Entertainment, Inc., incorporated in 2005 and formerly known as Live Nation, Inc. until its name change in January 2010, is a global leader in live entertainment, headquartered in Beverly Hills, California. The company's diverse operations are organized into three primary business segments: Concerts, Ticketing, and Sponsorship & Advertising. The Concerts segment is responsible for organizing and promoting live musical performances, utilizing its extensive portfolio of owned or managed venues, as well as various rented third-party locations. This division also oversees the management and operation of music venues, produces major music festivals, develops related content, and offers management and other support services to artists. Through its Ticketing segment, Live Nation manages a comprehensive suite of ticketing operations. This includes supplying advanced ticketing software and services to its clients and facilitating the sale of tickets for both its own events and a wide array of third-party performances and gatherings. These range from professional sports and collegiate athletics to performing arts, museums, and theaters, with tickets distributed via leading online platforms like livenation.com and ticketmaster.com, mobile applications, and various physical outlets. The segment also provides services for ticket resale. The Sponsorship & Advertising division focuses on developing and executing global, national, and local sponsorship programs and advertising campaigns. This involves selling placements for signage, promotional activities, and rich media advertisements—including those associated with live streaming and music-related content—distributed throughout its vast ecosystem of venues, events, and digital properties. Additionally, this segment specializes in crafting and producing bespoke events and programs tailored to specific brand requirements. As of December 31, 2021, Live Nation Entertainment owned, operated, or leased 165 entertainment venues across North America and an additional 94 international entertainment venues.

CEO
Michael Rapino
Headquarters
Beverly Hills, CA
Employees
17,700
IPO
2005-12-21
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.