LYV vs WMG
Live Nation Entertainment, Inc. and Warner Music Group Corp., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | LYV | WMG |
|---|---|---|
| Revenue | $25.2B | $6.7B |
| Net income | $496.0M | $365.0M |
| Gross margin | 25.5% | 45.8% |
| Net margin | 2.7% | 5.4% |
| Return on equity | 223.3% | 62.7% |
| Diluted EPS | −$0.24 | · |
| Dividend / share | · | $0.73 |
| Payout ratio | · | 104.9% |
| Free cash flow | $333.6M | $539.0M |
| Equity | $271.0M | $647.0M |
| Net debt / equity | 1.91× | 5.46× |
| Current ratio | 1.00× | 0.66× |
| Revenue CAGR 5y | 68.4% | 8.5% |
| Profit CAGR 5y | · | · |
LYV bills 3.8× the revenue of WMG, and WMG keeps more of each dollar of revenue as profit (5.4% against 2.7%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | LYV | WMG |
|---|---|---|
| FY2025 | $25.2B | $6.7B |
| FY2024 | $23.2B | $6.4B |
| FY2023 | $22.7B | $6.0B |
| FY2022 | $16.7B | $5.9B |
| FY2021 | $6.3B | $5.3B |
| FY2020 | $1.9B | $4.5B |
| FY2019 | $11.5B | $4.5B |
| FY2018 | $10.8B | $4.0B |
| FY2017 | $9.7B | $3.6B |
| FY2016 | $7.8B | $3.2B |
Bottom line
| Fiscal year | LYV | WMG |
|---|---|---|
| FY2025 | $496.0M | $365.0M |
| FY2024 | $896.3M | $435.0M |
| FY2023 | $556.9M | $430.0M |
| FY2022 | $266.4M | $551.0M |
| FY2021 | $-650.9M | $304.0M |
| FY2020 | $-1.7B | $-475.0M |
| FY2019 | $69.9M | $256.0M |
| FY2018 | $60.2M | $307.0M |
| FY2017 | $-6.0M | $143.0M |
| FY2016 | $2.9M | $25.0M |
15 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$18,494,406,000 | LYV |
| FY2024 | +$16,729,625,000 | LYV |
| FY2023 | +$16,689,317,000 | LYV |
| FY2022 | +$10,762,254,000 | LYV |
| FY2021 | +$967,447,000 | LYV |
| FY2020 | −$2,601,822,000 | WMG |
| FY2019 | +$7,072,969,000 | LYV |
| FY2018 | +$6,782,800,000 | LYV |
| FY2017 | +$6,111,222,000 | LYV |
| FY2016 | +$4,580,336,000 | LYV |
| FY2015 | +$4,279,731,000 | LYV |
| FY2014 | +$3,839,964,000 | LYV |
| FY2013 | +$3,607,547,000 | LYV |
| FY2012 | +$3,039,047,000 | LYV |
| FY2010 | +$2,075,748,000 | LYV |
The higher-revenue side has changed between LYV and WMG over this period. The gap has widened since the earliest year compared.
15 of 17 comparable fiscal years — a year missing data on either side is not counted.
15 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −2.7 pp | WMG |
| FY2024 | −1.9 pp | WMG |
| FY2023 | −4.0 pp | WMG |
| FY2022 | −7.1 pp | WMG |
| FY2021 | −15.4 pp | WMG |
| FY2020 | −87.6 pp | WMG |
| FY2019 | −4.7 pp | WMG |
| FY2018 | −6.8 pp | WMG |
| FY2017 | −3.9 pp | WMG |
| FY2016 | −0.5 pp | WMG |
| FY2015 | +2.7 pp | LYV |
| FY2014 | +8.5 pp | LYV |
| FY2013 | +6.2 pp | LYV |
| FY2012 | +1.1 pp | LYV |
| FY2010 | +0.7 pp | LYV |
The higher net margin has changed hands between LYV and WMG over this period.
15 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LYV's net margin has been more volatile than WMG's over the 15 comparable fiscal years — 24.7 percentage points of standard deviation against 6.6.
15 of 17 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between LYV and WMG over these 15 fiscal years — LYV led in 5 and WMG in 10.
15 of 17 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LYV's return on equity has been more volatile than WMG's over the 7 comparable fiscal years — 79.6 percentage points of standard deviation against 41.9.
7 of 15 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between LYV and WMG over these 7 fiscal years — LYV led in 4 and WMG in 3.
7 of 15 comparable fiscal years — a year missing data on either side is not counted.