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Live Nation Entertainment

DB:3LN
Snowflake Description

Reasonable growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
3LN
DB
$14B
Market Cap
  1. Home
  2. DE
  3. Media
Company description

Live Nation Entertainment, Inc. operates as a live entertainment company. The last earnings update was 55 days ago. More info.


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3LN Share Price and Events
7 Day Returns
2.9%
DB:3LN
-0.1%
DE Entertainment
1%
DE Market
1 Year Returns
82.4%
DB:3LN
12.1%
DE Entertainment
-5.6%
DE Market
3LN Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Live Nation Entertainment (3LN) 2.9% 6.9% 27.8% 82.4% 201.9% 298.5%
DE Entertainment -0.1% 6.5% 12.7% 12.1% 35.3% 74.8%
DE Market 1% 6.1% 8.4% -5.6% 10.9% 13.8%
1 Year Return vs Industry and Market
  • 3LN outperformed the Entertainment industry which returned 12.1% over the past year.
  • 3LN outperformed the Market in Germany which returned -5.6% over the past year.
Price Volatility
3LN
Industry
5yr Volatility vs Market

3LN Value

 Is Live Nation Entertainment undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Live Nation Entertainment to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Live Nation Entertainment.

DB:3LN Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 10 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.7%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:3LN
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Entertainment Unlevered Beta Simply Wall St/ S&P Global 0.96
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.963 (1 + (1- 21%) (20.07%))
1.078
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.078 * 5.96%)
6.65%

Discounted Cash Flow Calculation for DB:3LN using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Live Nation Entertainment is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

DB:3LN DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 6.65%)
2019 583.10 Analyst x3 546.74
2020 591.20 Analyst x4 519.77
2021 555.00 Analyst x1 457.52
2022 533.02 Est @ -3.96% 412.00
2023 518.62 Est @ -2.7% 375.87
2024 509.16 Est @ -1.82% 346.00
2025 503.00 Est @ -1.21% 320.51
2026 499.09 Est @ -0.78% 298.19
2027 496.72 Est @ -0.48% 278.26
2028 495.40 Est @ -0.26% 260.22
Present value of next 10 years cash flows $3,815.09
DB:3LN DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $495.40 × (1 + 0.23%) ÷ (6.65% – 0.23%)
$7,731.59
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $7,731.59 ÷ (1 + 6.65%)10
$4,061.20
DB:3LN Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $3,815.09 + $4,061.20
$7,876.29
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $7,876.29 / 211.17
$37.3
DB:3LN Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:3LN represents 0.89318x of NYSE:LYV
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89318x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 37.30 x 0.89318
€33.31
Value per share (EUR) From above. €33.31
Current discount Discount to share price of €59.03
= -1 x (€59.03 - €33.31) / €33.31
-77.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Live Nation Entertainment is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Live Nation Entertainment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Live Nation Entertainment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:3LN PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in USD $-0.09
NYSE:LYV Share Price ** NYSE (2019-04-24) in USD $66.09
Germany Entertainment Industry PE Ratio Median Figure of 10 Publicly-Listed Entertainment Companies 19.65x
Germany Market PE Ratio Median Figure of 424 Publicly-Listed Companies 19.72x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Live Nation Entertainment.

DB:3LN PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:LYV Share Price ÷ EPS (both in USD)

= 66.09 ÷ -0.09

-776.72x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Live Nation Entertainment is loss making, we can't compare its value to the DE Entertainment industry average.
  • Live Nation Entertainment is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Live Nation Entertainment's expected growth come at a high price?
Raw Data
DB:3LN PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -776.72x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts
70.9%per year
Europe Entertainment Industry PEG Ratio Median Figure of 30 Publicly-Listed Entertainment Companies 1.71x
Germany Market PEG Ratio Median Figure of 269 Publicly-Listed Companies 1.58x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Live Nation Entertainment, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Live Nation Entertainment's assets?
Raw Data
DB:3LN PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in USD $5.27
NYSE:LYV Share Price * NYSE (2019-04-24) in USD $66.09
Germany Entertainment Industry PB Ratio Median Figure of 14 Publicly-Listed Entertainment Companies 1.56x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.87x
DB:3LN PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:LYV Share Price ÷ Book Value per Share (both in USD)

= 66.09 ÷ 5.27

12.55x

* Primary Listing of Live Nation Entertainment.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Live Nation Entertainment is overvalued based on assets compared to the DE Entertainment industry average.
X
Value checks
We assess Live Nation Entertainment's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Entertainment industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Entertainment industry average (and greater than 0)? (1 check)
  5. Live Nation Entertainment has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

3LN Future Performance

 How is Live Nation Entertainment expected to perform in the next 1 to 3 years based on estimates from 10 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
70.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Live Nation Entertainment expected to grow at an attractive rate?
  • Live Nation Entertainment's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Live Nation Entertainment's earnings growth is expected to exceed the Germany market average.
  • Live Nation Entertainment's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:3LN Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:3LN Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 10 Analysts 70.9%
DB:3LN Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 10 Analysts 7.4%
Germany Entertainment Industry Earnings Growth Rate Market Cap Weighted Average 23%
Germany Entertainment Industry Revenue Growth Rate Market Cap Weighted Average 3.5%
Germany Market Earnings Growth Rate Market Cap Weighted Average 11.6%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.8%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:3LN Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:3LN Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31
2022-12-31 14,383 1
2021-12-31 13,697 622 200 4
2020-12-31 12,627 869 148 10
2019-12-31 11,746 849 74 9
DB:3LN Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-12-31 10,788 942 -18
2018-09-30 11,157 460 -76
2018-06-30 10,762 338 -113
2018-03-31 10,577 637 -102
2017-12-31 9,687 624 -98
2017-09-30 9,164 896 14
2017-06-30 8,894 891 1
2017-03-31 8,390 842 -35
2016-12-31 7,826 599 -47
2016-09-30 8,294 442 -23
2016-06-30 7,747 456 -47
2016-03-31 7,333 478 -61

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Live Nation Entertainment's earnings are expected to grow significantly at over 20% yearly.
  • Live Nation Entertainment's revenue is expected to grow by 7.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:3LN Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below

All data from Live Nation Entertainment Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3LN Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 2.39 2.39 2.39 1.00
2022-12-31 1.81 1.81 1.81 1.00
2021-12-31 1.41 2.04 0.88 3.00
2020-12-31 0.75 1.07 0.50 6.00
2019-12-31 0.36 0.50 0.20 6.00
DB:3LN Past Financials Data
Date (Data in USD Millions) EPS *
2018-12-31 -0.09
2018-09-30 -0.37
2018-06-30 -0.55
2018-03-31 -0.50
2017-12-31 -0.48
2017-09-30 0.07
2017-06-30 0.01
2017-03-31 -0.17
2016-12-31 -0.23
2016-09-30 -0.12
2016-06-30 -0.23
2016-03-31 -0.30

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Live Nation Entertainment is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Live Nation Entertainment's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Live Nation Entertainment has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

3LN Past Performance

  How has Live Nation Entertainment performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Live Nation Entertainment's growth in the last year to its industry (Entertainment).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Live Nation Entertainment does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Live Nation Entertainment's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Live Nation Entertainment's 1-year growth to the DE Entertainment industry average as it is not currently profitable.
Earnings and Revenue History
Live Nation Entertainment's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Live Nation Entertainment Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:3LN Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 10,787.80 -17.65 2,136.31
2018-09-30 11,156.62 -75.92 2,067.17
2018-06-30 10,761.68 -112.82 2,016.18
2018-03-31 10,576.95 -102.37 1,973.99
2017-12-31 9,687.22 -97.65 1,914.68
2017-09-30 9,164.32 13.96 1,858.39
2017-06-30 8,894.42 1.47 1,788.65
2017-03-31 8,390.10 -34.73 1,726.51
2016-12-31 7,826.34 -47.01 1,679.23
2016-09-30 8,294.12 -23.30 1,642.18
2016-06-30 7,746.62 -46.88 1,591.57
2016-03-31 7,333.14 -61.37 1,542.72
2015-12-31 7,245.73 -65.69 1,511.79
2015-09-30 7,080.86 -159.70 1,469.34
2015-06-30 6,959.95 -134.67 1,450.26
2015-03-31 6,859.96 -124.14 1,446.49
2014-12-31 6,866.96 -96.47 1,441.22
2014-09-30 6,908.21 9.76 1,403.67
2014-06-30 6,668.44 -50.70 1,378.79
2014-03-31 6,682.17 -15.20 1,344.68
2013-12-31 6,478.55 -43.95 1,321.28
2013-09-30 6,302.67 -121.48 1,304.85
2013-06-30 6,003.58 -107.04 1,268.09
2013-03-31 5,874.75 -157.32 1,258.92
2012-12-31 5,819.05 -164.03 1,250.70
2012-09-30 5,567.50 -103.04 1,243.29
2012-06-30 5,394.38 -109.27 1,238.45

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Live Nation Entertainment has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Live Nation Entertainment used its assets less efficiently than the DE Entertainment industry average last year based on Return on Assets.
  • It is difficult to establish if Live Nation Entertainment improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Live Nation Entertainment's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Entertainment industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Live Nation Entertainment has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

3LN Health

 How is Live Nation Entertainment's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Live Nation Entertainment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Live Nation Entertainment is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Live Nation Entertainment's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Live Nation Entertainment's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Live Nation Entertainment Company Filings, last reported 3 months ago.

DB:3LN Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 1,672.10 2,815.02 2,371.54
2018-09-30 1,859.38 2,813.82 1,900.31
2018-06-30 1,698.71 2,828.05 2,293.26
2018-03-31 1,636.92 2,866.81 2,942.41
2017-12-31 1,662.87 2,299.96 1,825.32
2017-09-30 1,984.82 2,312.14 1,801.01
2017-06-30 1,804.05 2,315.59 2,216.81
2017-03-31 1,678.88 2,318.76 2,227.56
2016-12-31 1,696.58 2,313.05 1,526.59
2016-09-30 1,827.82 2,031.20 1,039.71
2016-06-30 1,708.30 2,030.11 1,512.10
2016-03-31 1,668.75 2,036.84 1,699.28
2015-12-31 1,710.63 2,045.02 1,303.13
2015-09-30 1,794.90 2,036.09 1,061.38
2015-06-30 1,690.11 2,030.46 1,525.82
2015-03-31 1,555.37 2,032.88 1,606.66
2014-12-31 1,652.70 2,043.40 1,382.03
2014-09-30 1,755.68 2,075.16 1,358.30
2014-06-30 1,687.61 2,308.47 2,041.69
2014-03-31 1,634.44 1,807.72 1,629.14
2013-12-31 1,650.85 1,810.38 1,299.18
2013-09-30 1,719.26 1,804.45 1,302.58
2013-06-30 1,624.00 1,723.69 1,385.26
2013-03-31 1,474.08 1,734.95 1,246.42
2012-12-31 1,550.67 1,742.82 1,001.06
2012-09-30 1,711.36 1,749.17 783.67
2012-06-30 1,597.18 1,743.08 1,005.04
  • Live Nation Entertainment's level of debt (168.4%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (109.7% vs 168.4% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Live Nation Entertainment has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Live Nation Entertainment has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -10.9% per year.
X
Financial health checks
We assess Live Nation Entertainment's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Live Nation Entertainment has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

3LN Dividends

 What is Live Nation Entertainment's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Live Nation Entertainment dividends. Estimated to be 0% next year.
If you bought €2,000 of Live Nation Entertainment shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Live Nation Entertainment's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Live Nation Entertainment's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:3LN Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 10 Analyst Estimates (S&P Global) See Below
Germany Entertainment Industry Average Dividend Yield Market Cap Weighted Average of 5 Stocks 1.5%
Germany Market Average Dividend Yield Market Cap Weighted Average of 327 Stocks 3%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:3LN Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31 0.00 3.00
2020-12-31 0.00 3.00
2019-12-31 0.00 3.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Live Nation Entertainment has not reported any payouts.
  • Unable to verify if Live Nation Entertainment's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Live Nation Entertainment's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Live Nation Entertainment has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Live Nation Entertainment's dividends in 3 years as they are not expected to pay a notable one for Germany.
X
Income/ dividend checks
We assess Live Nation Entertainment's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Live Nation Entertainment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Live Nation Entertainment has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

3LN Management

 What is the CEO of Live Nation Entertainment's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Michael Rapino
COMPENSATION $70,615,760
AGE 52
TENURE AS CEO 13.7 years
CEO Bio

Mr. Michael Rapino has been the Chief Executive Officer and President of Live Nation Entertainment, Inc. since August 2005. Mr. Rapino serves as Chief Executive Officer and President at Live Nation Merchandise, Inc. and Live Nation Worldwide, Inc. He served as the Chief Executive Officer and President of Global Music for Clear Channel Music Group, Inc., a subsidiary of Live Nation Entertainment, Inc. from 2004 to 2005. He served as the Chief Executive Officer of iHeartMedia, Inc. He served as President of Clear Channel's world music group. From July 2003 to July 2004, he served as Chief Executive Officer and President of Live Nation's International Music division. From July 2001 to 2003, he served as the Chief Executive Officer of European Music division of Live Nation. He served as an Executive in marketing services group of Live Nation. He served at Labatt's Breweries of Canada for 10 years in various progressive marketing and entertainment roles. While at Labatt's, he served as Director of Entertainment and Sports and served as Head of Labatt Marketing brands. He was a Partner of Core Audience Entertainment. Mr. Rapino serves as Director at Live Nation Worldwide, Inc. He has been a Director of Live Nation Entertainment, Inc. since December 2005. He has been a Director at Sirius XM Holdings Inc. since January 23, 2018. Mr. Rapino has been a Member of the Board of Managers of Ticketmaster Entertainment LLC since January 25, 2010. Mr. Rapino studied Business at Lakehead University, earning his Bachelor of Administration in 1989.

CEO Compensation
  • Michael's compensation has increased whilst company is loss making.
  • Michael's remuneration is higher than average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Live Nation Entertainment management team in years:

11.3
Average Tenure
52
Average Age
  • The average tenure for the Live Nation Entertainment management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Michael Rapino

TITLE
President
COMPENSATION
$71M
AGE
52
TENURE
13.7 yrs

Joe Berchtold

TITLE
President
COMPENSATION
$29M
AGE
53
TENURE
1.3 yrs

Kathy Willard

TITLE
Chief Financial Officer
COMPENSATION
$5M
AGE
51
TENURE
11.6 yrs

Brian Capo

TITLE
Chief Accounting Officer & Senior VP
COMPENSATION
$542K
AGE
51
TENURE
11.3 yrs

Michael Rowles

TITLE
Executive VP
COMPENSATION
$3M
AGE
52
TENURE
13.1 yrs

Maili Bergman

TITLE
Senior Vice President of Investor Relations

Carrie Davis

TITLE
Chief Communications Officer
TENURE
3.6 yrs

Amy Marks

TITLE
Executive VP & Head of Integrated Marketing
TENURE
0.7 yrs

Mark Campana

TITLE
Chief Operating Officer of US Concerts
AGE
60

Michelle St. John

TITLE
Senior Vice President of Field Services - Los Angeles
Board of Directors Tenure

Average tenure and age of the Live Nation Entertainment board of directors in years:

11.6
Average Tenure
58
Average Age
  • The average tenure for the Live Nation Entertainment board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Greg Maffei

TITLE
Non-Executive Chairman of the Board
COMPENSATION
$393K
AGE
58
TENURE
6.1 yrs

Michael Rapino

TITLE
President
COMPENSATION
$71M
AGE
52
TENURE
13.3 yrs

Randall Mays

TITLE
Director
COMPENSATION
$262K
AGE
52
TENURE
14.3 yrs

Jeff Hinson

TITLE
Director
COMPENSATION
$283K
AGE
63
TENURE
13.3 yrs

Robert Enloe

TITLE
Director
COMPENSATION
$274K
AGE
79
TENURE
12.3 yrs

Jim Kahan

TITLE
Director
COMPENSATION
$265K
AGE
71
TENURE
11.6 yrs

Ari Emanuel

TITLE
Director
COMPENSATION
$253K
AGE
58
TENURE
11.6 yrs

Mark Shapiro

TITLE
Director
COMPENSATION
$259K
AGE
48
TENURE
10.4 yrs

Mark Carleton

TITLE
Director
COMPENSATION
$244K
AGE
58
TENURE
9.3 yrs

Jimmy Iovine

TITLE
Director
COMPENSATION
$244K
AGE
65
TENURE
4.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
09. Nov 18 Sell Michael Rowles Individual 09. Nov 18 09. Nov 18 -25,000 €49.80 €-1,244,881
17. Sep 18 Sell Robert Enloe Individual 13. Sep 18 14. Sep 18 -7,000 €46.94 €-324,547
17. Aug 18 Sell Elizabeth Willard Individual 15. Aug 18 16. Aug 18 -40,000 €43.02 €-1,710,111
10. Aug 18 Sell Elizabeth Willard Individual 08. Aug 18 09. Aug 18 -40,000 €42.79 €-1,710,252
10. Aug 18 Sell Joe Berchtold Individual 08. Aug 18 09. Aug 18 -40,000 €42.79 €-1,710,252
08. Jun 18 Sell Jeffrey Hinson Individual 07. Jun 18 07. Jun 18 -2,200 €38.05 €-83,706
08. Jun 18 Sell Robert Enloe Individual 07. Jun 18 07. Jun 18 -4,389 €38.15 €-167,438
X
Management checks
We assess Live Nation Entertainment's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Live Nation Entertainment has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

3LN News

Simply Wall St News

3LN Company Info

Description

Live Nation Entertainment, Inc. operates as a live entertainment company. It operates through Concerts, Sponsorship & Advertising, and Ticketing segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues; operates and manages music venues; and produces music festivals and creates associated content. This segment also provides management and other services to artists. The Sponsorship & Advertising segment sells sponsorships and placement of advertising, including signage, online advertising, and promotional programs, as well as live streaming and music-related content; and ads across its distribution network of venues, events, and Websites. This segment also manages the development of strategic sponsorship programs, as well as develops, books, and produces custom events for specific brands. The Ticketing segment manages the ticketing operations, including the provision of ticketing software and services to clients, as well as ticket resale services; and offers online access for customers relating to ticket and event information through its primary Websites, livenation.com and ticketmaster.com. This segment sells tickets for its events, as well as for third-party clients in various live event categories, such as arenas, stadiums, amphitheaters, music clubs, concert promoters, professional sports franchises and leagues, college sports teams, performing arts venues, museums, and theaters. It sells tickets through Websites, mobile apps, ticket outlets, and telephone call centers. As of December 31, 2018, it owned, operated, or leased 120 entertainment venues and 144 other facilities in North America; and 37 entertainment venues and 118 other facilities internationally. The company was formerly known as Live Nation, Inc. and changed its name to Live Nation Entertainment, Inc. in January 2010. Live Nation Entertainment, Inc. was incorporated in 2005 and is headquartered in Beverly Hills, California.

Details
Name: Live Nation Entertainment, Inc.
3LN
Exchange: DB
Founded: 2005
$12,532,165,545
211,170,231
Website: http://www.livenationentertainment.com
Address: Live Nation Entertainment, Inc.
9348 Civic Center Drive,
Beverly Hills,
California, 90210,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE LYV Common Stock New York Stock Exchange US USD 14. Dec 2005
DB 3LN Common Stock Deutsche Boerse AG DE EUR 14. Dec 2005
LSE 0JVD Common Stock London Stock Exchange GB USD 14. Dec 2005
Number of employees
Current staff
Staff numbers
9,500
Live Nation Entertainment employees.
Industry
Movies and Entertainment
Media
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/04/24 21:56
End of day share price update: 2019/04/24 00:00
Last estimates confirmation: 2019/04/22
Last earnings filing: 2019/02/28
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.