Discounted Cash Flow

Live Nation Entertainment, Inc.

LYV · Based on 10 years of SEC filings

Average annual growth rates

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Average annual growth is the mean year-over-year change across each period.

Endpoint CAGR (better for long term trend)

Metric 10-Year 5-Year 3-Year
Sales
Free Cash Flow
Average (FCF & NI)
Net Income

Endpoint CAGR is the compound annual rate from the first to last year in each period.

Projections use average year-over-year growth. Change this in Settings.

Projected growth rate

Free cash flow growth
10-year: — 5-year: — 3-year: —
Averaged growth (FCF & NI)
10-year: — 5-year: — 3-year: —
Net income growth
10-year: — 5-year: — 3-year: —
Sales growth (not added to calculations)
10-year: — 5-year: — 3-year: —

Click a greyed-out slider to switch metrics. Slide between the 10-year, 5-year, and 3-year historic growth rates for FCF, net income, or their average.

%
%

Historical inputs (10 fiscal years)

YEAR Sales Net Income Free Cash Flow Net Margin EPS (diluted)
2016 $8.4b $2.9m $423.7m 0.0% $-0.23
2017 $10.3b (23.7%) $-6.0m (-304.5%) $384.6m (-9.2%) -0.1% (-265.2%) $-0.48 (-108.7%)
2018 $10.8b (4.4%) $60.2m (1101.6%) $701.8m (82.5%) 0.6% (1059.8%) $-0.09 (81.3%)
2019 $11.5b (7.0%) $69.9m (16.0%) $146.2m (-79.2%) 0.6% (8.4%) $-0.02 (77.8%)
2020 $1.9b (-83.9%) $-1.7b (-2567.5%) $-1.3b (-987.1%) -92.7% (-15410.2%) $-8.12 (-40500.0%)
2021 $6.3b (236.8%) $-650.9m (62.3%) $1.6b (225.5%) -10.4% (88.8%) $-3.09 (61.9%)
2022 $16.7b (166.1%) $296.0m (145.5%) $1.5b (-8.8%) 1.8% (117.1%) $0.66 (121.4%)
2023 $22.7b (36.4%) $563.3m (90.3%) $932.2m (-37.2%) 2.5% (39.5%) $1.38 (109.1%)
2024 $23.2b (1.8%) $896.3m (59.1%) $1.1b (15.7%) 3.9% (56.3%) $2.77 (100.7%)
2025 $25.2b (8.8%) $496.0m (-44.7%) $333.6m (-69.1%) 2.0% (-49.2%) $-0.24 (-108.7%)

Base FCF: (latest fiscal year)

Discount rate: %

Terminal growth:

Projection period: years

Alt A decline yrs:

Alt B total yrs:

Values abbreviated: b = billions, m = millions, k = thousands.

Projected cash flows

Year Projected cash flow Discount Factor Present Value

PV of projected FCF:

Terminal FCF:

Terminal value:

PV of terminal value:

Enterprise value (DCF):

DCF price per share:

Current price:

Alternative DCF Models

Model Fair Value Upside PV(FCFs) PV(Terminal) Total Years
Standard (10yr→TV) 10 + TV
Alt A (Gradual Decline)
Alt B (30yr Hard Stop) N/A

This is a simplified DCF model for illustration. It uses reported free cash flow, a single growth assumption, fixed WACC, and a Gordon Growth terminal value. It is not investment advice.

+ 10YR Financials Balance Sheet (10YR) Cash Flow (10YR) DCF Model