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LLYVA

Liberty Live Group

LLYVA

Liberty Live Group • NASDAQ
$76.92 ▲ 0.79% (+0.60)
Market Cap $7.07 B
52w High $99.63
52w Low $59.45
Dividend Yield 0%
P/E -19.93
Volume 100.90K
Outstanding Shares 91.89M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $1.085B ▲ $305M ▲ $33M ▲ 3.041% ▲ $0 ▲ $227M ▲
Q2-2025 $0 $7M ▲ $-178M ▼ 0% $-1.94 ▼ $-219M ▼
Q1-2025 $0 $4M $-17M ▲ 0% $-0.19 ▲ $71M ▲
Q4-2024 $0 $4M ▲ $-107M ▼ 0% $-1.17 ▼ $-131M ▼
Q3-2024 $0 $3M $15M 0% $0.16 $28M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.588B ▲ $17.821B ▲ $9.731B ▲ $7.376B ▲
Q2-2025 $308M ▼ $1.371B ▲ $1.86B ▲ $-511M ▼
Q1-2025 $314M ▼ $1.231B ▲ $1.583B ▲ $-374M ▼
Q4-2024 $325M ▼ $1.223B ▼ $1.56B ▲ $-359M ▼
Q3-2024 $388M $1.255B $1.438B $-206M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $233.897M ▲ $697.36M ▲ $-3.008B ▼ $906.513M ▲ $1.458B ▲ $733.76M ▲
Q2-2025 $-178M ▼ $-6M ▼ $0 ▲ $0 ▲ $-6M ▲ $-6M ▼
Q1-2025 $77M ▲ $140M ▲ $-296M ▼ $-11M ▲ $-167M ▼ $113M ▲
Q4-2024 $-109M ▼ $-3M ▲ $0 ▲ $-60M ▼ $-63M ▼ $-3M ▲
Q3-2024 $15M $-4M $-3M $-11M $-18M $-4M

Five-Year Company Overview

Income Statement

Income Statement Liberty Live Group’s reported income statement looks more like a financial holding company than an operating entertainment business. Revenue and operating profit are present but still modest, and recent profitability appears fragile rather than firmly established. Past years show small losses, suggesting the group is hovering around break-even at the accounting level. In practice, underlying economics are driven far more by the performance of Live Nation and other holdings than by Liberty Live’s own standalone operations, so the GAAP results here only tell part of the story and can be quite noisy from year to year.

Balance Sheet

Balance Sheet The balance sheet is heavily shaped by Liberty’s holding-company structure. Total assets have been edging up, and cash on hand is reasonable for a lean corporate center, but debt is meaningfully larger than reported equity. The result is negative book equity, although that deficit has been shrinking over time. This kind of capital structure is not unusual for Liberty-style entities, but it does mean the group is financially leveraged and sensitive to changes in borrowing costs and asset values. The true economic value sits in stakes like Live Nation rather than in the balance sheet numbers alone.

Cash Flow

Cash Flow Cash flows are thin and slightly negative, which is typical for a corporate parent with limited direct operations. Operating cash flow has been modestly in the red for several years, and free cash flow follows the same pattern, with essentially no visible capital spending. That suggests ongoing corporate and financing costs are a bit higher than incoming cash, and the entity relies on its balance sheet and upstream cash from investments to bridge the gap. The cash burn is small but persistent, so liquidity and access to financing remain important watch points.

Competitive Edge

Competitive Edge Liberty Live’s real competitive position comes from its core asset, Live Nation (including Ticketmaster), and the newer QuintEvents platform. Live Nation is a vertically integrated giant in live entertainment—owning or controlling promotion, venues, ticketing, and many artist relationships. This creates a powerful ecosystem with network effects: big artists attract big audiences, which in turn attract more artists, sponsors, and partners. Exclusive ticketing contracts and global scale make it difficult for rivals to dislodge. At the same time, this dominance brings regulatory scrutiny and public attention, so legal and political risk is a structural feature of the business. Demand is also tied to consumer spending and the health of live events globally.

Innovation and R&D

Innovation and R&D Innovation here is largely commercial and digital rather than traditional lab-style R&D. Live Nation and Ticketmaster are leaning heavily into technology: AI-driven pricing and marketing, advanced data analytics on fan behavior, secure digital ticketing, and tools like virtual seat views. They are experimenting with augmented and virtual reality, higher-speed connectivity in venues, and partnerships with telecom players to create more immersive event experiences. QuintEvents adds innovation on the premium side—packaging tickets with high-end hospitality, travel, and “once-in-a-lifetime” experiences. The focus is on using software, data, and new formats to deepen fan engagement and raise the value of each attendee, rather than on physical product research.

Summary

Liberty Live Group is best viewed as a financial vehicle providing exposure to a leading live entertainment and ticketing platform, plus a growing premium-experiences business, rather than as a traditional operating company. Its own financial statements show light revenue, marginal profitability, and a leveraged balance sheet with negative book equity, offset by valuable underlying assets. Cash flows are currently modest and slightly negative, reinforcing its dependence on the performance and cash generation of holdings like Live Nation. Strategically, the group is tied to a strong competitive position built on vertical integration, scale, and exclusive relationships, but it also faces regulatory scrutiny and macro-sensitive demand. The planned spin-off into a standalone Liberty Live entity will be an important milestone that could change how investors assess both structure and risk, even though the underlying business exposure remains live entertainment and premium fan experiences.

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