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Live Nation Entertainment, Inc.
S&P 500
$40.0B
Market Cap
47.3
P/E
2.09
PEG
5.2%
ROCE
36.7%
ROE
5.31
D/E
5.0%
OPM
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📈 Price History
Ratio Health
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By Category
Shareholding
About

Live Nation Entertainment, Inc. operates as a live entertainment company worldwide.

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⭐ Superinvestors Holding LYV
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Manager Shares Value % of Fund Period
Daniel Loeb Third Point LLC 465.0K $70.9B 3.40% Mar 2026
Steve Cohen Point72 Asset Management 751.4K $114.6M 0.15% Mar 2026
Jeff Ubben ValueAct Holdings 624.7K $95.3M 1.67% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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3-Statement Financial Model
Bear / Base / Bull projections · DCF fair value · Reverse-DCF
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🎙 Management Tone Mixed → Stable 4 quarters Full tone analysis in Intelligence →
Good quarter Investor Presentation One-Pager? Q1 2026
Revenue
$3.8B
+12% YoY
Adjusted Operating Income
$371M
+9% YoY
What Went Right
  • Record event-related deferred revenue of $6.6B, up 22% YoY.
  • More than 107 million concert tickets sold year-to-date, up 11%.
  • Sponsorship AOI up 21% to $165M, fueled by international festivals and venue growth.
What to Watch
  • Operating loss of $371M driven by a $450M legal accrual.
  • Mid-single-digit headwind in Ticketmaster AOI from structural secondary market changes.
  • Pending regulatory case with DOJ; court hearing scheduled for Thursday.
Management Guidance
  • Full-year AOI expected to grow double-digits.
  • 2026 capital expenditures expected to be between $1.1B and $1.2B.
  • Preopening costs for venues under development about $50M.
Investor Lens
The thesis is stronger after this call. Revenue and AOI growth are solid, deferred revenue is at record levels, and the company sees strong global demand across venues and geographies. The $450M legal accrual is a one-time item that does not affect AOI, and the underlying business is pacing for double-digit AOI growth in 2026. The regulatory overhang remains a risk, but management appears confident in their position.
From investor presentation · AI-generated analysis · Not investment advice
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📈 STRONG Solid start with revenue up 12% to $3.8B.
Revenue
Revenue rose 12% to $3.8B in Q1 2026, driven by Concerts revenue of $2.8B (+12%) and Ticketing revenue of $765M (+10%). Sponsorship revenue grew 20% to $259M.
Profitability
Operating loss was $371M, reflecting a $450M legal accrual; excluding that item, operating income would have been positive. Adjusted operating income (AOI) was $371M, up 9% year-over-year.
Margins
Not discussed in detail. Segment margins are expected to remain similar to last year for both Ticketing and Sponsorship. Concerts margin is positioned to build on 2025 levels as the year progresses.
Balance Sheet
Capital expenditures were $249M in Q1, with full-year CapEx guided to $1.1-$1.2B. Event-related deferred revenue reached a record $6.6B, up 22%. Ticketing deferred revenue was $368M, up 29%.
Key Risks
The $450M legal accrual and ongoing regulatory proceedings (DOJ settlement review, state case remedies). Mid-single-digit AOI headwind in Ticketing from secondary market changes. Preopening costs of ~$50M for venue development.
Outlook
Management expects double-digit AOI growth for the full year 2026, with strong global demand continuing across stadiums, arenas, and amphitheaters.
Generated by AI · Q1 2026 results · Not investment advice
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📊 Analysis Methodology

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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

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Conflict of Interest Disclosure:
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Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

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