Live Nation Entertainment (LYV) FY2018 results: revenue $10.8 billion, up 11.4% on the year
Live Nation Entertainment, Inc. (LYV) reported revenue of $10.8 billion for fiscal 2018, the year ended 31 December 2018, up 11.4% on the year before. Net income was $60 million, and diluted earnings per share $-0.09. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2019.
Revenue
$10.8 billion
+11.4% on the year
FY2011FY2018
Operating margin
2.5%
0.9% a year earlier
FY2011FY2018
Net income
$60 million
FY2011FY2018
Diluted EPS
-$0.09
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
10,788
9,687
7,826
+11.4%
Selling, general and administrative
1,997
1,908
1,548
+4.7%
Operating income
273
91.4
195
+198.2%
Operating margin
2.5%
0.9%
2.5%
Interest expense
141
108
107
+30.8%
Pre-tax income
131
-9.4
48.3
Income tax
40.8
-17.2
28.0
Effective tax rate
31.1%
n/a
58.0%
Net income
60.2
-6.0
2.9
Net margin
0.6%
-0.1%
0.0%
Diluted EPS
-$0.09
-$0.48
-$0.23
$ 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
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
942
623
599
+51.1%
Capital expenditure
240
238
174
+0.6%
Free cash flow
702
385
425
+82.5%
Free cash flow margin
6.5%
4.0%
5.4%
Cash from investing
-497
-328
-426
Cash from financing
189
-127
99.2
Depreciation and amortisation
387
372
319
+3.8%
Share-based compensation
45.6
42.8
32.7
+6.6%
Shares outstanding at period end
210m
208m
204m
+1.0%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
1,099
1,181
1,126
-7.0%
Non-controlling interest
244
237
224
+2.9%
Redeemable equity
329
245
347
+34.6%
Debt
2,815
2,300
2,313
+22.4%
Operating lease liabilities
0.0
n/a
n/a
Other liabilities
4,010
3,541
2,755
+13.2%
Total liabilities and equity
8,497
7,504
6,764
+13.2%
Fixed assets
947
886
752
+6.8%
Goodwill
1,823
1,755
1,747
+3.9%
Intangible assets
661
729
812
-9.3%
Cash and equivalents
2,372
1,825
1,527
+29.9%
Receivables
829
725
569
+14.3%
Inventory
12.6
17.5
15.1
-28.0%
Other assets
1,852
1,566
1,343
+18.3%
Total assets
8,497
7,504
6,764
+13.2%
10-K for the year ended 31 December 2018, filed 28 February 2019: the filing.