Live Nation Entertainment (LYV) FY2019 results: revenue $11.5 billion, up 7.0% on the year
Live Nation Entertainment, Inc. (LYV) reported revenue of $11.5 billion for fiscal 2019, the year ended 31 December 2019, up 7.0% on the year before. Net income was $70 million, up 16.0%, and diluted earnings per share $-0.02. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2020.
Revenue
$11.5 billion
+7.0% on the year
FY2012FY2019
Operating margin
2.8%
2.5% a year earlier
FY2012FY2019
Net income
$70 million
+16.0% on the year
FY2012FY2019
Diluted EPS
-$0.02
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
11,548
10,788
9,687
+7.0%
Selling, general and administrative
2,145
1,997
1,908
+7.4%
Operating income
325
273
91.4
+19.2%
Operating margin
2.8%
2.5%
0.9%
Interest expense
158
141
108
+11.7%
Pre-tax income
185
131
-9.4
+41.2%
Income tax
66.9
40.8
-17.2
+64.1%
Effective tax rate
36.1%
31.1%
n/a
Net income
69.9
60.2
-6.0
+16.0%
Net margin
0.6%
0.6%
-0.1%
Diluted EPS
-$0.02
-$0.09
-$0.48
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
470
942
623
-50.1%
Capital expenditure
324
240
238
+34.9%
Free cash flow
146
702
385
-79.2%
Free cash flow margin
1.3%
6.5%
4.0%
Cash from investing
-691
-497
-328
Cash from financing
329
189
-127
+74.2%
Depreciation and amortisation
444
387
372
+14.9%
Share-based compensation
48.8
45.6
42.8
+7.0%
Shares outstanding at period end
214m
210m
208m
+1.7%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
1,146
1,099
1,181
+4.3%
Non-controlling interest
318
244
237
+30.5%
Redeemable equity
449
329
245
+36.5%
Debt
3,309
2,815
2,300
+17.6%
Operating lease liabilities
1,374
0.0
n/a
Other liabilities
4,379
4,010
3,541
+9.2%
Total liabilities and equity
10,976
8,497
7,504
+29.2%
Fixed assets
1,118
947
886
+18.1%
Goodwill
1,998
1,823
1,755
+9.6%
Intangible assets
870
661
729
+31.6%
Cash and equivalents
2,470
2,372
1,825
+4.2%
Receivables
995
829
725
+19.9%
Inventory
16.1
12.6
17.5
+28.1%
Other assets
3,508
1,852
1,566
+89.4%
Total assets
10,976
8,497
7,504
+29.2%
10-K for the year ended 31 December 2019, filed 27 February 2020: the filing.