Live Nation Entertainment (LYV) FY2013 results: revenue $6.5 billion, up 11.3% on the year
Live Nation Entertainment, Inc. (LYV) reported revenue of $6.5 billion for fiscal 2013, the year ended 31 December 2013, up 11.3% on the year before. Net income was -$43 million, and diluted earnings per share $-0.22. The figures are the company's own, from the 10-K it filed with the SEC on 24 February 2014.
Revenue
$6.5 billion
+11.3% on the year
FY2009FY2013
Operating margin
2.2%
-0.4% a year earlier
FY2009FY2013
Net income
-$43 million
FY2009FY2013
Diluted EPS
-$0.22
FY2009FY2013
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Revenue
6,479
5,819
5,384
+11.3%
Selling, general and administrative
1,227
1,144
1,112
+7.3%
Operating income
140
-21.6
18.3
Operating margin
2.2%
-0.4%
0.3%
Interest expense
112
124
120
-9.8%
Pre-tax income
-5.1
-132
-96.6
Income tax
30.9
29.7
-26.2
+3.8%
Net income
-43.4
-163
-83.0
Net margin
-0.7%
-2.8%
-1.5%
Diluted EPS
-$0.22
-$0.87
-$0.46
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Operating cash flow
431
367
136
+17.5%
Capital expenditure
135
124
108
+8.9%
Free cash flow
296
243
28.2
+21.9%
Free cash flow margin
4.6%
4.2%
0.5%
Cash from investing
-158
-204
-152
Cash from financing
33.0
-19.9
-44.4
Depreciation and amortisation
369
430
343
-14.1%
Share-based compensation
28.4
37.1
50.0
-23.3%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
n/a
187m
182m
Shares outstanding at period end
200m
191m
190m
+4.6%
Balance sheet
$ million
FY2013
FY2012
FY2011
On the year
Last 8 years
Shareholders' equity
1,409
1,355
1,461
+4.0%
Non-controlling interest
181
153
156
+17.9%
Redeemable equity
61.0
42.1
8.3
+45.0%
Debt
1,809
1,740
1,705
+4.0%
Other liabilities
2,224
2,000
1,747
+11.2%
Total liabilities and equity
5,684
5,291
5,077
+7.4%
Fixed assets
707
722
720
-2.1%
Goodwill
1,467
1,358
1,258
+8.0%
Intangible assets
677
724
874
-6.6%
Cash and equivalents
1,299
1,001
844
+29.8%
Receivables
439
416
389
+5.6%
Inventory
12.3
12.0
12.9
+2.0%
Other assets
1,083
1,058
979
+2.3%
Total assets
5,684
5,291
5,077
+7.4%
10-K for the year ended 31 December 2013, filed 24 February 2014: the filing.