LYV Live Nation Entertainment

entertainment · 2026-10-23

N/A

fair · 60

Owner-earnings value$10.94

Price$174.50

Margin of safety -93.7%

Quality gate · 60/100

Returns on capital 12.6/30

Consistency 20.6/22

Margins / pricing power 6.1/16

Balance sheet 6.5/16

Cash conversion 10/10

Capital allocation 3.9/6

Median ROIC10.7%

Gross margin7.4%

Net debt / EBITDA2.0x

FCF conversion168%

Share count / yr+0.6%

Profitable years4/4

Moat & management

Owner-earnings inputs

Owner earnings (TTM)	134.70M
Owner-earnings yield	0.3%
Free-cash-flow yield	3.4%
Growth used (normalized)	10.0%
Market-implied growth (reverse DCF)	25.0%
Terminal growth	3.0%
Discount rate (hurdle)	10.2%

Projected owner earnings

Yr	Owner earnings	Growth	PV
1	148.17M	10.0%	134.43M
2	161.83M	9.2%	133.21M
3	175.50M	8.4%	131.06M
4	188.96M	7.7%	128.02M
5	201.97M	6.9%	124.15M
6	214.32M	6.1%	119.52M
7	225.75M	5.3%	114.22M
8	236.03M	4.6%	108.34M
9	244.95M	3.8%	102.01M
10	252.29M	3.0%	95.32M

⚠ maintenance capex ≈ min(capex, D&A), capped at FCF · Price pays for ~25%/yr owner-earnings growth over 10y (reverse DCF); model credits 10%.

Date	Quality	Price	Value	MoS	Rating
2026-10-23	60	$174.50	$10.94	-93.7%	N/A
2026-10-02	60	$166.85	$10.89	-93.5%	N/A
2026-09-11	60	$170.08	$11.36	-93.3%	N/A
2026-08-21	60	$182.02	$11.80	-93.5%	N/A
2026-08-03	61	$174.13	$11.79	-93.2%	N/A
2026-07-13	60	$179.79	$7.53	-95.8%	N/A
2026-07-02	60	$183.98	$7.55	-95.9%	N/A
2026-06-25	60	$171.47	$7.64	-95.5%	N/A
2026-06-23	60	$168.60	$7.53	-95.5%	N/A

Date

Quality

Price

Value

MoS

Rating

2026-10-23

$174.50

$10.94

-93.7%

N/A

2026-10-02

$166.85

$10.89

-93.5%

N/A

2026-09-11

$170.08

$11.36

-93.3%

N/A

2026-08-21

$182.02

$11.80

-93.5%

N/A

2026-08-03

$174.13

$11.79

-93.2%

N/A

2026-07-13

$179.79

$7.53

-95.8%

N/A

2026-07-02

$183.98

$7.55

-95.9%

N/A

2026-06-25

$171.47

$7.64

-95.5%

N/A

2026-06-23

$168.60