Live Nation Entertainment vs Warner Music Group
Live Nation Entertainment is the larger business, with $25.20bn of revenue in fiscal 2025 against $6.71bn for Warner Music Group (3.8 times as much). Live Nation Entertainment grew faster (8.8% against 4.4%). Warner Music Group kept more of each dollar of sales as profit: a net margin of 5.4% against 2.0%. Warner Music Group carries less debt relative to equity (674.7% against 3051.1%).
| Latest fiscal year | Live Nation EntertainmentLYV, 2025 | Warner Music GroupWMG, 2025 |
|---|---|---|
| Revenue | $25.20bn | $6.71bn |
| Revenue growth | 8.8% | 4.4% |
| Net income | $496m | $365m |
| Operating margin | 5.0% | 10.3% |
| Net margin | 2.0% | 5.4% |
| Return on equity | — | 62.7% |
| Free cash flow | $334m | $539m |
| Cash | $7.09bn | $532m |
| Total debt | $8.27bn | $4.37bn |
| Debt to equity | 3051.1% | 674.7% |
| Dividend per share | — | — |
| Dividend yield | — | 8.7% |
| Share buybacks | $23.5m | $16.0m |
| Employees | 17,700 | — |
| Market value | $42.00bn | $4.59bn |
| Price vs our value range | — | Below our value range |
| Moat score | 26 (Weak) | 52 (Moderate) |
| Insider trades, 12 months | 0 buys, 13 sales | 3 buys, 0 sales |