Live Nation Entertainment (LYV) FY2014 results: revenue $6.9 billion, up 6.0% on the year
Live Nation Entertainment, Inc. (LYV) reported revenue of $6.9 billion for fiscal 2014, the year ended 31 December 2014, up 6.0% on the year before. Net income was -$91 million, and diluted earnings per share $-0.49. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2015.
Revenue
$6.9 billion
+6.0% on the year
FY2009FY2014
Operating margin
0.1%
2.2% a year earlier
FY2009FY2014
Net income
-$91 million
FY2009FY2014
Diluted EPS
-$0.49
FY2009FY2014
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Revenue
6,867
6,479
5,819
+6.0%
Selling, general and administrative
1,337
1,227
1,144
+9.0%
Operating income
7.2
140
-21.6
-94.9%
Operating margin
0.1%
2.2%
-0.4%
Interest expense
106
112
124
-4.8%
Pre-tax income
-99.8
-5.1
-132
Income tax
4.6
30.9
29.7
-85.0%
Net income
-90.8
-43.4
-163
Net margin
-1.3%
-0.7%
-2.8%
Diluted EPS
-$0.49
-$0.22
-$0.87
$ 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
FY2014
FY2013
FY2012
On the year
Last 8 years
Operating cash flow
292
431
367
-32.3%
Capital expenditure
140
135
124
+3.5%
Free cash flow
153
296
243
-48.5%
Free cash flow margin
2.2%
4.6%
4.2%
Cash from investing
-392
-158
-204
Cash from financing
226
33.0
-19.9
+585.1%
Depreciation and amortisation
368
369
430
-0.2%
Share-based compensation
39.0
28.4
37.1
+37.4%
Buybacks
n/a
n/a
0.0
Diluted shares, weighted
n/a
n/a
187m
Shares outstanding at period end
201m
200m
191m
+0.8%
Balance sheet
$ million
FY2014
FY2013
FY2012
On the year
Last 8 years
Shareholders' equity
1,297
1,409
1,355
-8.0%
Non-controlling interest
187
181
153
+3.5%
Redeemable equity
169
61.0
42.1
+176.6%
Debt
2,043
1,809
1,740
+13.0%
Other liabilities
2,272
2,224
2,000
+2.2%
Total liabilities and equity
5,968
5,684
5,291
+5.0%
Fixed assets
695
707
722
-1.6%
Goodwill
1,479
1,467
1,358
+0.8%
Intangible assets
683
677
724
+0.9%
Cash and equivalents
1,382
1,299
1,001
+6.4%
Receivables
419
439
416
-4.5%
Inventory
12.8
12.3
12.0
+4.5%
Other assets
1,297
1,083
1,058
+19.8%
Total assets
5,968
5,684
5,291
+5.0%
10-K for the year ended 31 December 2014, filed 26 February 2015: the filing.