Live Nation Entertainment (LYV) FY2017 results: revenue $9.7 billion, up 23.8% on the year
Live Nation Entertainment, Inc. (LYV) reported revenue of $9.7 billion for fiscal 2017, the year ended 31 December 2017, up 23.8% on the year before. Net income was -$6 million, and diluted earnings per share $-0.48. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2018.
Revenue
$9.7 billion
+23.8% on the year
FY2010FY2017
Operating margin
0.9%
2.5% a year earlier
FY2010FY2017
Net income
-$6 million
FY2010FY2017
Diluted EPS
-$0.48
FY2010FY2017
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Revenue
9,687
7,826
7,246
+23.8%
Selling, general and administrative
1,908
1,548
1,412
+23.2%
Operating income
91.4
195
131
-53.1%
Operating margin
0.9%
2.5%
1.8%
Interest expense
108
107
103
+1.2%
Pre-tax income
-9.4
48.3
6.4
Income tax
-17.2
28.0
22.1
Effective tax rate
n/a
58.0%
348.2%
Net income
-6.0
2.9
-32.5
Net margin
-0.1%
0.0%
-0.4%
Diluted EPS
-$0.48
-$0.23
-$0.33
$ 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
FY2017
FY2016
FY2015
On the year
Last 8 years
Operating cash flow
623
599
308
+4.1%
Capital expenditure
238
174
142
+37.2%
Free cash flow
385
425
165
-9.5%
Free cash flow margin
4.0%
5.4%
2.3%
Cash from investing
-328
-426
-291
Cash from financing
-127
99.2
-44.1
Depreciation and amortisation
372
319
397
+16.8%
Share-based compensation
42.8
32.7
33.4
+30.7%
Shares outstanding at period end
208m
204m
202m
+2.0%
Balance sheet
$ million
FY2017
FY2016
FY2015
On the year
Last 8 years
Shareholders' equity
1,181
1,126
1,237
+4.9%
Non-controlling interest
237
224
210
+6.0%
Redeemable equity
245
347
264
-29.5%
Debt
2,300
2,313
2,045
-0.6%
Other liabilities
3,541
2,755
2,401
+28.6%
Total liabilities and equity
7,504
6,764
6,156
+10.9%
Fixed assets
886
752
731
+17.9%
Goodwill
1,755
1,747
1,604
+0.4%
Intangible assets
729
812
778
-10.2%
Cash and equivalents
1,825
1,527
1,303
+19.6%
Receivables
725
569
453
+27.5%
Inventory
17.5
15.1
14.4
+15.6%
Other assets
1,566
1,343
1,273
+16.6%
Total assets
7,504
6,764
6,156
+10.9%
10-K for the year ended 31 December 2017, filed 27 February 2018: the filing.