Comprehensive Stock Comparison
Compare TKO Group Holdings, Inc. (TKO) vs Live Nation Entertainment, Inc. (LYV) vs Formula One Group (FWONK) vs Liberty Live Group (LLYVK) 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 | TKO | 68.9% revenue growth vs FWONK's -100.0% |
| Value | TKO | Lower P/E (37.2x vs 52.7x) |
| Quality / Margins | FWONK | 43.8% net margin vs LYV's 3.7% |
| Stability / Safety | FWONK | Beta 0.51 vs MSGE's 0.99 |
| Dividends | TKO | 0.4% yield; 1-year raise streak; LYV, FWONK, LLYVK, MSGE pay no meaningful dividend |
| Momentum (1Y) | MSGE | +82.9% vs FWONK's -5.0% |
| Efficiency (ROA) | FWONK | 42.6% ROA vs LLYVK's -19.2% |
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
TKO Group Holdings is a sports and entertainment company that operates major professional wrestling promotions including WWE and UFC. It generates revenue primarily from media rights deals and content distribution (~60%), live event ticket sales and merchandise (~25%), and sponsorships and advertising (~15%). The company's moat lies in its ownership of iconic, globally recognized wrestling and mixed martial arts brands with decades of fan loyalty and extensive content libraries.
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.
Formula One Group is the commercial rights holder for the global Formula 1 motorsport championship. It generates revenue primarily from race promotion fees (about 30%), media rights sales (about 35%), and sponsorship deals (about 20%), with the remainder from hospitality and other sources. Its key moat is the exclusive, long-term commercial rights to the world's premier motorsport series — a globally recognized brand with high barriers to entry.
Liberty Live Group is a live entertainment company that produces and promotes concerts, festivals, and other live events. It generates revenue primarily from ticket sales, venue operations, and sponsorship deals — with ticket sales typically representing the largest portion. The company's competitive advantage lies in its established relationships with major artists, exclusive venue partnerships, and expertise in large-scale event production.
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
Segment breakdown not available.
Segment breakdown not available.
Financial Metrics Comparison
Side-by-side fundamentals across 5 stocks. BestLagging
Financial Scorecard
LYV leads in 2 of 6 categories (Valuation Metrics, Profitability & Efficiency). FWONK leads in 1 (Financial Metrics). 1 tied.
Financial Metrics (TTM)
LYV and LLYVK operate at a comparable scale, with $24.6B and -$2.7B in trailing revenue. FWONK is the more profitable business, keeping 43.8% of every revenue dollar as net income compared to LYV's 3.7%. On growth, TKO holds the edge at +61.6% YoY revenue growth, suggesting stronger near-term business momentum.
| Metric | TKOTKO Group Holding… | LYVLive Nation Enter… | FWONKFormula One Group | LLYVKLiberty Live Group | MSGEMadison Square Ga… |
|---|---|---|---|---|---|
| RevenueTrailing 12 months | $4.7B | $24.6B | $1.0B | -$2.7B | $1.0B |
| EBITDAEarnings before interest/tax | $1.3B | $1.8B | $231M | $179M | $195M |
| Net IncomeAfter-tax profit | $195M | $899M | $449M | -$203M | $52M |
| Free Cash FlowCash after capex | $1.2B | $1.6B | $279M | $403M | $207M |
| Gross MarginGross profit ÷ Revenue | -43.0% | +46.2% | -18.4% | — | +46.1% |
| Operating MarginEBIT ÷ Revenue | +17.6% | +4.7% | -3.4% | — | +13.5% |
| Net MarginNet income ÷ Revenue | +4.1% | +3.7% | +43.8% | — | +5.1% |
| FCF MarginFCF ÷ Revenue | +26.2% | +6.6% | +27.3% | — | +20.4% |
| Rev. Growth (YoY)Latest quarter vs prior year | +61.6% | +11.1% | -2.6% | — | +12.9% |
| EPS Growth (YoY)Latest quarter vs prior year | -144.4% | -56.0% | +100.0% | +83.8% | +24.4% |
Valuation Metrics
At 82.0x trailing earnings, MSGE trades at a 17% valuation discount to TKO's 99.1x P/E. On an enterprise value basis, LYV's 17.8x EV/EBITDA is more attractive than TKO's 22.1x.
| Metric | TKOTKO Group Holding… | LYVLive Nation Enter… | FWONKFormula One Group | LLYVKLiberty Live Group | MSGEMadison Square Ga… |
|---|---|---|---|---|---|
| Market CapShares × price | $26.0B | $38.2B | $20.4B | $6.4B | $2.6B |
| Enterprise ValueMkt cap + debt − cash | $29.2B | $33.7B | $19.4B | $5.3B | $3.7B |
| Trailing P/EPrice ÷ TTM EPS | 99.06x | -675.58x | — | — | 82.00x |
| Forward P/EPrice ÷ next-FY EPS est. | 37.18x | 101.03x | 52.13x | 50.33x | 52.74x |
| PEG RatioP/E ÷ EPS growth rate | 83.11x | — | — | — | — |
| EV / EBITDAEnterprise value multiple | 22.15x | 17.83x | — | — | 20.62x |
| Price / SalesMarket cap ÷ Revenue | 5.49x | 1.51x | — | — | 2.71x |
| Price / BookPrice ÷ Book value/share | 4.71x | 42.03x | — | — | — |
| Price / FCFMarket cap ÷ FCF | 20.23x | 114.42x | 22.48x | 7.00x | 27.41x |
Profitability & Efficiency
MSGE delivers a 144.2% return on equity — every $100 of shareholder capital generates $144 in annual profit, vs $2 for TKO. TKO carries lower financial leverage with a 0.44x debt-to-equity ratio, signaling a more conservative balance sheet compared to LYV's 2.93x. On the Piotroski fundamental quality scale (0–9), LYV scores 6/9 vs LLYVK's 3/9, reflecting solid financial health.
| Metric | TKOTKO Group Holding… | LYVLive Nation Enter… | FWONKFormula One Group | LLYVKLiberty Live Group | MSGEMadison Square Ga… |
|---|---|---|---|---|---|
| ROE (TTM)Return on equity | +2.1% | +45.4% | — | — | +144.2% |
| ROA (TTM)Return on assets | +1.3% | +3.9% | +42.6% | -19.2% | +2.8% |
| ROICReturn on invested capital | +5.3% | +3.4% | — | -29.8% | +8.5% |
| ROCEReturn on capital employed | +6.5% | +11.3% | -0.5% | -3.1% | +11.0% |
| Piotroski ScoreFundamental quality 0–9 | 5 | 6 | 3 | 3 | 6 |
| Debt / EquityFinancial leverage | 0.44x | 2.93x | — | — | — |
| Net DebtTotal debt minus cash | $3.2B | -$4.5B | -$1.1B | -$1.1B | $1.2B |
| Cash & Equiv.Liquid assets | $831M | $7.1B | $1.1B | $1.1B | $43M |
| Total DebtShort + long-term debt | $4.1B | $2.6B | $0 | $0 | $1.2B |
| Interest CoverageEBIT ÷ Interest expense | 8.95x | 3.95x | 3.35x | -0.83x | 3.08x |
Total Returns (with DRIP)
A $10,000 investment in TKO five years ago would be worth $44,052 today (with dividends reinvested), compared to $5,752 for MSGE. Over the past 12 months, MSGE leads with a +82.9% total return vs FWONK's -5.0%. The 3-year compound annual growth rate (CAGR) favors LLYVK at 43.4% vs MSGE's 1.4% — a key indicator of consistent wealth creation.
| Metric | TKOTKO Group Holding… | LYVLive Nation Enter… | FWONKFormula One Group | LLYVKLiberty Live Group | MSGEMadison Square Ga… |
|---|---|---|---|---|---|
| YTD ReturnYear-to-date | +8.2% | +11.6% | -6.6% | +18.4% | +16.2% |
| 1-Year ReturnPast 12 months | +50.1% | +13.1% | -5.0% | +35.8% | +82.9% |
| 3-Year ReturnCumulative with dividends | +174.1% | +125.0% | +39.1% | +194.7% | +4.3% |
| 5-Year ReturnCumulative with dividends | +340.5% | +74.6% | +107.7% | +194.7% | -42.5% |
| 10-Year ReturnCumulative with dividends | +1297.3% | +637.3% | +269.5% | +194.7% | -28.7% |
| CAGR (3Y)Annualised 3-year return | +40.0% | +31.0% | +11.6% | +43.4% | +1.4% |
Risk & Volatility
FWONK is the less volatile stock with a 0.51 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. TKO currently trades 98.7% from its 52-week high vs FWONK's 83.8% drawdown — a narrower gap to the peak suggests stronger recent price momentum.
| Metric | TKOTKO Group Holding… | LYVLive Nation Enter… | FWONKFormula One Group | LLYVKLiberty Live Group | MSGEMadison Square Ga… |
|---|---|---|---|---|---|
| Beta (5Y)Sensitivity to S&P 500 | 0.75x | 0.90x | 0.51x | 0.94x | 0.99x |
| 52-Week HighHighest price in past year | $226.92 | $175.25 | $109.36 | $102.62 | $65.20 |
| 52-Week LowLowest price in past year | $133.07 | $112.88 | $75.26 | $60.55 | $28.29 |
| % of 52W HighCurrent price vs 52-week peak | +98.7% | +92.5% | +83.8% | +97.1% | +96.8% |
| RSI (14)Momentum oscillator 0–100 | 63.4 | 59.9 | 44.7 | 70.2 | 54.4 |
| Avg Volume (50D)Average daily shares traded | 717K | 2.2M | 1.5M | 355K | 276K |
Analyst Outlook
Analyst consensus: TKO as "Buy", LYV as "Buy", FWONK as "Buy", MSGE as "Buy". Consensus price targets imply 30.2% upside for FWONK (target: $119) vs 4.5% for TKO (target: $234). TKO is the only dividend payer here at 0.43% yield — a key consideration for income-focused portfolios.
| Metric | TKOTKO Group Holding… | LYVLive Nation Enter… | FWONKFormula One Group | LLYVKLiberty Live Group | MSGEMadison Square Ga… |
|---|---|---|---|---|---|
| Analyst RatingConsensus buy/hold/sell | Buy | Buy | Buy | — | Buy |
| Price TargetConsensus 12-month target | $233.90 | $181.20 | $119.25 | — | $66.00 |
| # AnalystsCovering analysts | 18 | 43 | 24 | — | 12 |
| Dividend YieldAnnual dividend ÷ price | +0.4% | — | — | — | — |
| Dividend StreakConsecutive years of raises | 1 | 1 | 1 | — | — |
| Dividend / ShareAnnual DPS | $0.95 | — | — | — | — |
| Buyback YieldShare repurchases ÷ mkt cap | +3.3% | +0.1% | 0.0% | 0.0% | +1.6% |
Historical Charts
Charts are rendered on first load. Hover for details.
Chart 1Total Return — 5 Years (Rebased to 100)
| Stock | Sep 23 | Feb 26 | Change |
|---|---|---|---|
| TKO Group Holdings,… (TKO) | 100 | 191.74 | +91.7% |
| Live Nation Enterta… (LYV) | 100 | 171.26 | +71.3% |
| Formula One Group (FWONK) | 100 | 123.86 | +23.9% |
| Liberty Live Group (LLYVK) | 101.33 | 245.16 | +141.9% |
| Madison Square Gard… (MSGE) | 100 | 199.81 | +99.8% |
TKO Group Holdings,… (TKO) returned +341% over 5 years vs Madison Square Gard… (MSGE)'s -42%. A $10,000 investment in TKO 5 years ago would be worth $44,052 today (including dividends reinvested).
Chart 2Revenue Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| TKO Group Holdings,… (TKO) | $729M | $4.7B | +549.3% |
| Live Nation Enterta… (LYV) | $7.8B | $25.2B | +222.0% |
| Formula One Group (FWONK) | $0.00 | $0.00 | — |
| Liberty Live Group (LLYVK) | $0.00 | $0.00 | — |
| Madison Square Gard… (MSGE) | $989M | $943M | -4.7% |
TKO Group Holdings, Inc.'s revenue grew from $729M (2016) to $4.7B (2025) — a 23.1% CAGR. 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 |
|---|---|---|---|
| TKO Group Holdings,… (TKO) | 4.6% | 11.3% | +142.5% |
| Live Nation Enterta… (LYV) | 0.0% | 2.0% | +5134.0% |
| Formula One Group (FWONK) | 14.3% | -0.8% | -105.7% |
| Madison Square Gard… (MSGE) | 0.7% | 4.0% | +469.2% |
TKO Group Holdings, Inc.'s net margin went from 5% (2016) to 11% (2025). Live Nation Entertainment, Inc.'s net margin went from 0% (2016) to 2% (2025).
Chart 4P/E Ratio History — 9 Years
| Stock | 2017 | 2025 | Change |
|---|---|---|---|
| TKO Group Holdings,… (TKO) | 72.8 | 92.5 | +27.1% |
| Live Nation Enterta… (LYV) | 109 | 47.3 | -56.6% |
| Formula One Group (FWONK) | 27.8 | 101.8 | +266.2% |
| Madison Square Gard… (MSGE) | 14.7 | 70 | +376.2% |
TKO Group Holdings, Inc. has traded in a 15x–93x P/E range over 7 years; current trailing P/E is ~99x. Live Nation Entertainment, Inc. has traded in a 47x–109x P/E range over 3 years; current trailing P/E is ~-676x.
Chart 5EPS Growth — 10 Years
| Stock | 2016 | 2025 | Change |
|---|---|---|---|
| TKO Group Holdings,… (TKO) | 0.44 | 2.26 | +413.6% |
| Live Nation Enterta… (LYV) | -0.23 | -0.24 | -4.3% |
| Formula One Group (FWONK) | 1.02 | 0 | -100.0% |
| Liberty Live Group (LLYVK) | -0 | 0 | +100.0% |
| Madison Square Gard… (MSGE) | 0.29 | 0.77 | +165.5% |
TKO Group Holdings, Inc.'s EPS grew from $0.44 (2016) to $2.26 (2025) — a 20% CAGR. Live Nation Entertainment, Inc.'s EPS grew from $-0.23 (2016) to $-0.24 (2025).
Chart 6Free Cash Flow — 5 Years
TKO Group Holdings, Inc. generated $1B FCF in 2025 (+823% vs 2021). Live Nation Entertainment, Inc. generated $334M FCF in 2025 (-79% vs 2021).
TKO vs LYV vs FWONK vs LLYVK vs MSGE: Key Questions Answered
9 questions · data-driven answers · updated daily
01Is TKO or LYV or FWONK or LLYVK 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 TKO Group Holdings, Inc. (TKO) a "Buy" — based on 18 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 — TKO or LYV or FWONK or LLYVK or MSGE?
On trailing P/E, Madison Square Garden Entertainment Corp. (MSGE) is the cheapest at 82.0x versus TKO Group Holdings, Inc. at 99.1x. On forward P/E, TKO Group Holdings, Inc. is actually cheaper at 37.2x — notably different from the trailing picture, reflecting expected earnings growth.
03Which is the better long-term investment — TKO or LYV or FWONK or LLYVK or MSGE?
Over the past 5 years, TKO Group Holdings, Inc. (TKO) delivered a total return of +340.5%, compared to -42.5% for Madison Square Garden Entertainment Corp. (MSGE). A $10,000 investment in TKO five years ago would be worth approximately $44K today (assuming dividends reinvested). Over 10 years, the gap is even starker: TKO returned +1297% 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 — TKO or LYV or FWONK or LLYVK or MSGE?
By beta (market sensitivity over 5 years), Formula One Group (FWONK) is the lower-risk stock at 0.51β versus Madison Square Garden Entertainment Corp.'s 0.99β — meaning MSGE is approximately 95% more volatile than FWONK relative to the S&P 500. On balance sheet safety, TKO Group Holdings, Inc. (TKO) carries a lower debt/equity ratio of 44% versus 3% for Live Nation Entertainment, Inc. — giving it more financial flexibility in a downturn.
05Which has better profit margins — TKO or LYV or FWONK or LLYVK or MSGE?
Formula One Group (FWONK) is the more profitable company, earning 43.8% net margin versus 0.0% for Liberty Live Group — meaning it keeps 43.8% of every revenue dollar as bottom-line profit. Operating margin tells a similar story: TKO leads at 17.6% versus -3.4% for FWONK. 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 TKO or LYV or FWONK or LLYVK or MSGE more undervalued right now?
On forward earnings alone, TKO Group Holdings, Inc. (TKO) trades at 37.2x forward P/E versus 101.0x for Live Nation Entertainment, Inc. — 63.9x cheaper on a one-year earnings basis. Analyst consensus price targets imply the most upside for FWONK: 30.2% to $119.25.
07Which pays a better dividend — TKO or LYV or FWONK or LLYVK or MSGE?
In this comparison, TKO (0.4% yield) pays a dividend. LYV, FWONK, LLYVK, MSGE do not pay a meaningful dividend and should not be held primarily for income.
08Is TKO or LYV or FWONK or LLYVK or MSGE better for a retirement portfolio?
For long-horizon retirement investors, TKO Group Holdings, Inc. (TKO) is the stronger choice — it scores higher on the combination of lower volatility, dividend reliability, and long-term compounding (low volatility (β 0.75), +1297% 10Y return). Both have compounded well over 10 years (TKO: +1297%, 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 TKO and LYV and FWONK and LLYVK 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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