Comprehensive Stock Comparison
Compare Live Nation Entertainment, Inc. (LYV) vs Madison Square Garden Entertainment Corp. (MSGE) Stock
Analyze side-by-side fundamentals, valuation, growth, and profitability to decide which stock is the better buy.
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Quick Verdict
| Category | Winner | Why |
|---|---|---|
| Growth | LYV | 8.8% revenue growth vs MSGE's -1.7% |
| Value | MSGE | Lower P/E (52.7x vs 101.0x) |
| Quality / Margins | MSGE | 5.1% net margin vs LYV's 3.7% |
| Stability / Safety | LYV | Beta 0.90 vs MSGE's 0.99 |
| Dividends | Tie | Neither pays a meaningful dividend |
| Momentum (1Y) | MSGE | +82.9% vs LYV's +13.1% |
| Efficiency (ROA) | LYV | 3.9% ROA vs MSGE's 2.8%, ROIC 343.5% vs 8.5% |
Who Each Stock Is For
Income & stability
Growth exposure
Long-term compounding (10Y)
Sleep-well-at-night portfolio
Defensive / Recession hedge
Business Model
What each company does and how it makes money
Live Nation Entertainment is the world's largest live entertainment company, operating concerts, festivals, and venue management globally. It generates revenue primarily through concert promotion and production (~60%), ticketing services via Ticketmaster (~30%), and sponsorship/advertising deals (~10%). Its key competitive advantage is its vertically integrated ecosystem—controlling artists, venues, ticketing, and sponsorships—which creates powerful network effects and barriers to entry.
Madison Square Garden Entertainment is a live entertainment company that produces and hosts concerts, sporting events, and theatrical productions in iconic venues like Madison Square Garden and Radio City Music Hall. It generates revenue primarily from ticket sales, venue rentals, and food/beverage concessions at its events — supplemented by operating high-end dining and nightlife venues under brands like Tao and Marquee. The company's key advantage is its ownership of legendary, irreplaceable venues in prime New York City locations that attract top-tier talent and command premium pricing.
Revenue Breakdown by Segment
How each company's revenue is distributed across its business units
Financial Metrics Comparison
Side-by-side fundamentals across 2 stocks. BestLagging
Financial Scorecard
LYV leads in 3 of 6 categories (Valuation Metrics, Profitability & Efficiency). MSGE leads in 1 (Financial Metrics). 1 tied.
Financial Metrics (TTM)
LYV is the larger business by revenue, generating $24.6B annually — 24.2x MSGE's $1.0B. Profitability is closely matched — net margins range from 5.1% (MSGE) to 3.7% (LYV).
| Metric | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|
| RevenueTrailing 12 months | $24.6B | $1.0B |
| EBITDAEarnings before interest/tax | $1.8B | $195M |
| Net IncomeAfter-tax profit | $899M | $52M |
| Free Cash FlowCash after capex | $1.6B | $207M |
| Gross MarginGross profit ÷ Revenue | +46.2% | +46.1% |
| Operating MarginEBIT ÷ Revenue | +4.7% | +13.5% |
| Net MarginNet income ÷ Revenue | +3.7% | +5.1% |
| FCF MarginFCF ÷ Revenue | +6.6% | +20.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +11.1% | +12.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -56.0% | +24.4% |
Valuation Metrics
On an enterprise value basis, LYV's 17.8x EV/EBITDA is more attractive than MSGE's 20.6x.
| Metric | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|
| Market CapShares × price | $38.2B | $2.6B |
| Enterprise ValueMkt cap + debt − cash | $33.7B | $3.7B |
| Trailing P/EPrice ÷ TTM EPS | -675.58x | 82.00x |
| Forward P/EPrice ÷ next-FY EPS est. | 101.03x | 52.74x |
| PEG RatioP/E ÷ EPS growth rate | — | — |
| EV / EBITDAEnterprise value multiple | 17.83x | 20.62x |
| Price / SalesMarket cap ÷ Revenue | 1.51x | 2.71x |
| Price / BookPrice ÷ Book value/share | 42.03x | — |
| Price / FCFMarket cap ÷ FCF | 114.42x | 27.41x |
Profitability & Efficiency
MSGE delivers a 144.2% return on equity — every $100 of shareholder capital generates $144 in annual profit, vs $45 for LYV.
| Metric | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|
| ROE (TTM)Return on equity | +45.4% | +144.2% |
| ROA (TTM)Return on assets | +3.9% | +2.8% |
| ROICReturn on invested capital | +3.4% | +8.5% |
| ROCEReturn on capital employed | +11.3% | +11.0% |
| Piotroski ScoreFundamental quality 0–9 | 6 | 6 |
| Debt / EquityFinancial leverage | 2.93x | — |
| Net DebtTotal debt minus cash | -$4.5B | $1.2B |
| Cash & Equiv.Liquid assets | $7.1B | $43M |
| Total DebtShort + long-term debt | $2.6B | $1.2B |
| Interest CoverageEBIT ÷ Interest expense | 3.95x | 3.08x |
Total Returns (with DRIP)
A $10,000 investment in LYV five years ago would be worth $17,461 today (with dividends reinvested), compared to $5,752 for MSGE. Over the past 12 months, MSGE leads with a +82.9% total return vs LYV's +13.1%. The 3-year compound annual growth rate (CAGR) favors LYV at 31.0% vs MSGE's 1.4% — a key indicator of consistent wealth creation.
| Metric | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|
| YTD ReturnYear-to-date | +11.6% | +16.2% |
| 1-Year ReturnPast 12 months | +13.1% | +82.9% |
| 3-Year ReturnCumulative with dividends | +125.0% | +4.3% |
| 5-Year ReturnCumulative with dividends | +74.6% | -42.5% |
| 10-Year ReturnCumulative with dividends | +637.3% | -28.7% |
| CAGR (3Y)Annualised 3-year return | +31.0% | +1.4% |
Risk & Volatility
LYV is the less volatile stock with a 0.90 beta — it tends to amplify market swings less than MSGE's 0.99 beta. A beta below 1.0 means the stock typically moves less than the S&P 500. MSGE currently trades 96.8% from its 52-week high vs LYV's 92.5% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.90x | 0.99x |
| 52-Week HighHighest price in past year | $175.25 | $65.20 |
| 52-Week LowLowest price in past year | $112.88 | $28.29 |
| % of 52W HighCurrent price vs 52-week peak | +92.5% | +96.8% |
| RSI (14)Momentum oscillator 0–100 | 59.9 | 54.4 |
| Avg Volume (50D)Average daily shares traded | 2.2M | 276K |
Analyst Outlook
Wall Street rates LYV as "Buy" and MSGE as "Buy". Consensus price targets imply 11.8% upside for LYV (target: $181) vs 4.5% for MSGE (target: $66).
| Metric | LYVLive Nation Enter… | MSGEMadison Square Ga… |
|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy |
| Price TargetConsensus 12-month target | $181.20 | $66.00 |
| # AnalystsCovering analysts | 43 | 12 |
| Dividend YieldAnnual dividend ÷ price | — | — |
| Dividend StreakConsecutive years of raises | 1 | — |
| Dividend / ShareAnnual DPS | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +0.1% | +1.6% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | May 20 | Feb 26 | Change |
|---|---|---|---|
| Live Nation Enterta… (LYV) | 100 | 349.62 | +249.6% |
| Madison Square Gard… (MSGE) | 90.02 | 69.98 | -22.3% |
Live Nation Enterta… (LYV) returned +75% over 5 years vs Madison Square Gard… (MSGE)'s -42%. A $10,000 investment in LYV 5 years ago would be worth $17,461 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Live Nation Enterta… (LYV) | $7.8B | $25.2B | +222.0% |
| Madison Square Gard… (MSGE) | $989M | $943M | -4.7% |
Live Nation Entertainment, Inc.'s revenue grew from $7.8B (2016) to $25.2B (2025) — a 13.9% CAGR.
Chart 3Net Margin Trend — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Live Nation Enterta… (LYV) | 0.0% | 2.0% | +5134.0% |
| Madison Square Gard… (MSGE) | 0.7% | 4.0% | +469.2% |
Live Nation Entertainment, Inc.'s net margin went from 0% (2016) to 2% (2025).
Chart 4P/E Ratio History — 5 Years
| Stock | 2020 | 2025 | Change |
|---|---|---|---|
| Live Nation Enterta… (LYV) | 109 | 47.3 | -56.6% |
| Madison Square Gard… (MSGE) | 14.7 | 70 | +376.2% |
Live Nation Entertainment, Inc. has traded in a 47x–109x P/E range over 3 years; current trailing P/E is ~-676x. Madison Square Garden Entertainment Corp. has traded in a 12x–70x P/E range over 4 years; current trailing P/E is ~82x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| Live Nation Enterta… (LYV) | -0.23 | -0.24 | -4.3% |
| Madison Square Gard… (MSGE) | 0.29 | 0.77 | +165.5% |
Live Nation Entertainment, Inc.'s EPS grew from $-0.23 (2016) to $-0.24 (2025).
Chart 6Free Cash Flow — 5 Years
Live Nation Entertainment, Inc. generated $334M FCF in 2025 (-79% vs 2021). Madison Square Garden Entertainment Corp. generated $93M FCF in 2025 (+159% vs 2021).
LYV vs MSGE: Frequently Asked Questions
9 questions · data-driven answers · updated daily
01Is LYV or MSGE a better buy right now?
Madison Square Garden Entertainment Corp. (MSGE) offers the better valuation at 82.0x trailing P/E (52.7x forward), making it the more compelling value choice. Analysts rate Live Nation Entertainment, Inc. (LYV) a "Buy" — based on 43 analyst ratings — the highest consensus in this comparison. The "better buy" depends entirely on your goals: growth investors should weight revenue trajectory, value investors should weight P/E and PEG, and income investors should weight dividend yield and streak.
02Which has the better valuation — LYV or MSGE?
On forward P/E, Madison Square Garden Entertainment Corp. is actually cheaper at 52.7x.
03Which is the better long-term investment — LYV or MSGE?
Over the past 5 years, Live Nation Entertainment, Inc. (LYV) delivered a total return of +74.6%, compared to -42.5% for Madison Square Garden Entertainment Corp. (MSGE). A $10,000 investment in LYV five years ago would be worth approximately $17K today (assuming dividends reinvested). Over 10 years, the gap is even starker: LYV returned +637.3% versus MSGE's -28.7%. Past returns do not guarantee future results, and the stock with the higher historical return may already have its best growth priced in.
04Which is safer — LYV or MSGE?
By beta (market sensitivity over 5 years), Live Nation Entertainment, Inc. (LYV) is the lower-risk stock at 0.90β versus Madison Square Garden Entertainment Corp.'s 0.99β — meaning MSGE is approximately 9% more volatile than LYV relative to the S&P 500.
05Which has better profit margins — LYV or MSGE?
Madison Square Garden Entertainment Corp. (MSGE) is the more profitable company, earning 4.0% net margin versus 2.0% for Live Nation Entertainment, Inc. — meaning it keeps 4.0% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: MSGE leads at 13.0% versus 5.0% for LYV. At the gross margin level — before operating expenses — LYV leads at 46.2%, reflecting greater pricing power or product mix advantage. Stronger margins indicate durable pricing power, lower cost of revenue, or higher mix of software/services. They are one of the clearest signs of business quality.
06Is LYV or MSGE more undervalued right now?
On forward earnings alone, Madison Square Garden Entertainment Corp. (MSGE) trades at 52.7x forward P/E versus 101.0x for Live Nation Entertainment, Inc. — 48.3x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for LYV: 11.8% to $181.20.
07Which pays a better dividend — LYV or MSGE?
None of the stocks in this comparison currently pay a material dividend. All are effectively zero-yield and should be held for capital appreciation rather than income.
08Is LYV or MSGE better for a retirement portfolio?
For long-horizon retirement investors, Live Nation Entertainment, Inc. (LYV) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.90), +637.3% 10Y return). Both have compounded well over 10 years (LYV: +637.3%, MSGE: -28.7%), confirming both are viable long-term holds — but the lower-volatility option typically results in less emotional selling during corrections. Retirement portfolios generally favour predictability over maximum returns. Consult a financial advisor before making allocation decisions.
09What are the main differences between LYV and MSGE?
Both stocks operate in the Communication Services sector, making this a peer-level intra-sector comparison — the same macro tailwinds and headwinds will affect both. These fundamental differences mean investors should not choose between them on a single metric — the "better stock" depends entirely on which of these characteristics aligns with your investment strategy.
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- Sector: Communication Services
- Market Cap > $100B
- Revenue Growth > 5%
- Gross Margin > 27%