Discounted Cash Flow (DCF) Analysis Levered
Live Nation Entertainment Inc (3LN.DE)
85.5 €
-0.30 (-0.35%)
All numbers are in Millions, Currency in USD
Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 10,787.80 | 11,547.97 | 1,861.18 | 6,268.45 | 16,681.25 | 30,279.73 | 54,963.62 | 99,769.71 | 181,101.49 | 328,734.57 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue (%) | ||||||||||
| Operating Cash Flow | 941.59 | 469.78 | -1,082.64 | 1,780.57 | 1,832.06 | -362.46 | -657.93 | -1,194.27 | -2,167.84 | -3,935.04 |
| Operating Cash Flow (%) | ||||||||||
| Capital Expenditure | -275.46 | -365.83 | -222.61 | -159.83 | -353.29 | -1,353.49 | -2,456.84 | -4,459.64 | -8,095.12 | -14,694.23 |
| Capital Expenditure (%) | ||||||||||
| Free Cash Flow | 666.12 | 103.96 | -1,305.25 | 1,620.73 | 1,478.78 | -1,715.94 | -3,114.77 | -5,653.92 | -10,262.96 | -18,629.28 |
Weighted Average Cost Of Capital
| Share price | $ 85.5 |
|---|---|
| Beta | 0.000 |
| Diluted Shares Outstanding | 231.56 |
| Cost of Debt | |
| Tax Rate | 19.04 |
| After-tax Cost of Debt | 2.93% |
| Risk-Free Rate | |
| Market Risk Premium | |
| Cost of Equity | 4.626 |
| Total Debt | 7,698.26 |
| Total Equity | 19,798.11 |
| Total Capital | 27,496.37 |
| Debt Weighting | 28.00 |
| Equity Weighting | 72.00 |
| Wacc |
Build Up Free Cash Flow
Year A/P | 2018 Actual | 2019 Actual | 2020 Actual | 2021 Actual | 2022 Actual | 2023 Projected | 2024 Projected | 2025 Projected | 2026 Projected | 2027 Projected |
| Revenue | 10,787.80 | 11,547.97 | 1,861.18 | 6,268.45 | 16,681.25 | 30,279.73 | 54,963.62 | 99,769.71 | 181,101.49 | 328,734.57 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 941.59 | 469.78 | -1,082.64 | 1,780.57 | 1,832.06 | -362.46 | -657.93 | -1,194.27 | -2,167.84 | -3,935.04 |
| Capital Expenditure | -275.46 | -365.83 | -222.61 | -159.83 | -353.29 | -1,353.49 | -2,456.84 | -4,459.64 | -8,095.12 | -14,694.23 |
| Free Cash Flow | 666.12 | 103.96 | -1,305.25 | 1,620.73 | 1,478.78 | -1,715.94 | -3,114.77 | -5,653.92 | -10,262.96 | -18,629.28 |
| WACC | ||||||||||
| PV LFCF | -1,344.46 | -2,343.21 | -4,083.90 | -7,117.69 | -12,405.18 | |||||
| SUM PV LFCF | -33,448.03 |
Terminal Value
| Growth in perpetuity method: | |
|---|---|
| Long-term growth rate | |
| WACC (%) | 4.15 |
| Free cash flow (t + 1) | -19,001.86 |
| Terminal Value | -883,807.52 |
| Present Value of Terminal Value | -721,209.30 |
Intrinsic Value
| Enterprise Value | -754,657.34 |
|---|---|
| Net Debt | 2,091.80 |
| Equity Value | -756,749.13 |
| Shares Outstanding | 231.56 |
| Equity Value Per Share | -3,268.09 |