Live Nation Entertainment (LYV) FY2020 results: revenue $1.9 billion, down 83.9% on the year
Live Nation Entertainment, Inc. (LYV) reported revenue of $1.9 billion for fiscal 2020, the year ended 31 December 2020, down 83.9% on the year before. Net income was -$1.7 billion, and diluted earnings per share $-8.12. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2021.
Revenue
$1.9 billion
-83.9% on the year
FY2013FY2020
Operating margin
-88.8%
2.8% a year earlier
FY2013FY2020
Net income
-$1.7 billion
FY2013FY2020
Diluted EPS
-$8.12
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
1,861
11,548
10,788
-83.9%
Selling, general and administrative
1,524
2,145
1,997
-29.0%
Operating income
-1,653
325
273
Operating margin
-88.8%
2.8%
2.5%
Interest expense
227
158
141
+44.0%
Pre-tax income
-1,857
185
131
Income tax
-28.9
66.9
40.8
Effective tax rate
n/a
36.1%
31.1%
Net income
-1,725
69.9
60.2
Net margin
-92.7%
0.6%
0.6%
Diluted EPS
-$8.12
-$0.02
-$0.09
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
-1,083
470
942
Capital expenditure
214
324
240
-33.9%
Free cash flow
-1,297
146
702
Free cash flow margin
-69.7%
1.3%
6.5%
Cash from investing
-224
-691
-497
Cash from financing
1,350
329
189
+310.5%
Depreciation and amortisation
485
444
387
+9.2%
Share-based compensation
117
48.8
45.6
+139.6%
Diluted shares, weighted
212m
n/a
n/a
Shares outstanding at period end
218m
214m
210m
+2.0%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
-472
1,146
1,099
Non-controlling interest
338
318
244
+6.3%
Redeemable equity
272
449
329
-39.4%
Debt
4,909
3,309
2,815
+48.3%
Operating lease liabilities
1,446
1,374
0.0
+5.2%
Other liabilities
4,096
4,379
4,010
-6.4%
Total liabilities and equity
10,589
10,976
8,497
-3.5%
Fixed assets
1,101
1,118
947
-1.5%
Goodwill
2,129
1,998
1,823
+6.5%
Intangible assets
856
870
661
-1.7%
Cash and equivalents
2,538
2,470
2,372
+2.7%
Receivables
487
995
829
-51.1%
Inventory
22.0
16.1
12.6
+36.6%
Other assets
3,457
3,508
1,852
-1.5%
Total assets
10,589
10,976
8,497
-3.5%
10-K for the year ended 31 December 2020, filed 1 March 2021: the filing.