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Vivid Seats Inc. (SEAT) 10-Year Financial Performance & Capital Metrics

SEAT • • Industrial / General
Communication ServicesInternet ServicesOnline Marketplaces & ServicesE-commerce & Ticket Marketplaces
AboutVivid Seats Inc. operates as an online secondary marketplace for tickets in the United States and Canada. The company operates in two segments, Marketplace and Resale. The Marketplace segment acts as an intermediary between event ticket buyers and sellers; processes ticket sales on its website and mobile applications through its distribution partners; and sells tickets for live sports, concerts, and theater shows, and other live events. This segment offers Skybox, a proprietary enterprise resource planning tool that helps ticket sellers manage ticket inventories, adjust pricing, and fulfill orders across multiple ticket resale marketplaces. The Resale segment acquires tickets to resell on secondary ticket marketplaces; and provides internal research and development support for Skybox and to deliver seller software and tools. The company was founded in 2001 and is headquartered in Chicago, Illinois.Show more
  • Revenue $776M +8.8%
  • EBITDA $88M -11.2%
  • Net Income $9M -87.4%
  • EPS (Diluted) 1.12 -78.5%
  • Gross Margin 73.97% -0.6%
  • EBITDA Margin 11.37% -18.4%
  • Operating Margin 5.44% -52.3%
  • Net Margin 1.22% -88.4%
  • ROE 1.57% -88.8%
  • ROIC 4.16% -57.2%
  • Debt/Equity 0.66 +36.8%
  • Interest Coverage 1.82 -69.7%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 10.6%
  • ✓Trading at only 0.1x book value

✗Weaknesses

  • ✗Weak momentum: RS Rating 4 (bottom 4%)
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y10.59%
3Y20.52%
TTM-16.83%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-539.46%

EPS CAGR

10Y-
5Y-
3Y-
TTM-1064.47%

ROCE

10Y Avg-6.06%
5Y Avg-7.12%
3Y Avg7.28%
Latest3.72%

Peer Comparison

E-commerce & Ticket Marketplaces
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
SEATVivid Seats Inc.69.82M6.515.818.8%-24.08%-46.21%71.17%0.66
SEGGLottery.com Inc.5.13M1.00-0.03-84.82%-22.91%-47.52%0.27
TCToken Cat Limited17.75M9.00-0.14-69.71%-403.81%-448.65%
UPXIUpexi, Inc.139.69M2.21-1.28-39.19%264.27%29.55%0.31
GRPNGroupon, Inc.680.2M16.69-11.05-4.34%-28.52%-159.75%5.88%6.16

Profit & Loss

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+468.93M35.08M443.04M600.27M712.88M775.59M
Revenue Growth %--0.93%11.63%0.35%0.19%0.09%
Cost of Goods Sold+106M24.69M90.62M140.51M182.18M201.85M
COGS % of Revenue0.23%0.7%0.2%0.23%0.26%0.26%
Gross Profit+362.92M10.39M352.42M459.77M530.7M573.73M
Gross Margin %0.77%0.3%0.8%0.77%0.74%0.74%
Gross Profit Growth %--0.97%32.93%0.3%0.15%0.08%
Operating Expenses+372.86M726.4M275.85M381.66M449.36M531.51M
OpEx % of Revenue0.8%20.71%0.62%0.64%0.63%0.69%
Selling, General & Admin279.78M104.32M273.53M375.99M427.21M479.83M
SG&A % of Revenue0.6%2.97%0.62%0.63%0.6%0.62%
Research & Development000000
R&D % of Revenue------
Other Operating Expenses93.08M622.09M2.32M5.67M22.14M51.68M
Operating Income+-9.94M-716.02M76.57M78.11M81.34M42.23M
Operating Margin %-0.02%-20.41%0.17%0.13%0.11%0.05%
Operating Income Growth %--71.06%1.11%0.02%0.04%-0.48%
EBITDA+83.14M-667.77M78.89M88.01M99.33M88.16M
EBITDA Margin %0.18%-19.04%0.18%0.15%0.14%0.11%
EBITDA Growth %--9.03%1.12%0.12%0.13%-0.11%
D&A (Non-Cash Add-back)93.08M48.25M2.32M9.9M18M45.94M
EBIT-12.35M-716.7M39.35M82.05M84.45M45.89M
Net Interest Income+-41.5M-57.48M-58.18M-12.86M-13.51M-23.17M
Interest Income000000
Interest Expense41.5M57.48M58.18M12.86M13.51M23.17M
Other Income/Expense-43.91M-58.17M-95.4M-8.92M-10.4M-19.51M
Pretax Income+-53.85M-774.18M-18.82M69.19M70.94M22.72M
Pretax Margin %-0.11%-22.07%-0.04%0.12%0.1%0.03%
Income Tax+00304K-1.59M-42.2M8.42M
Effective Tax Rate %1%1%1.02%0.41%1.05%0.41%
Net Income+-53.85M-774.18M-19.13M28.66M74.54M9.43M
Net Margin %-0.11%-22.07%-0.04%0.05%0.1%0.01%
Net Income Growth %--13.38%0.98%2.5%1.6%-0.87%
Net Income (Continuing)-53.85M-774.18M-19.13M70.78M113.14M14.3M
Discontinued Operations000000
Minority Interest001.29B862.86M481.74M352.92M
EPS (Diluted)+-24.80-244.60-5.007.205.201.12
EPS Growth %--8.86%0.98%2.44%-0.28%-0.78%
EPS (Basic)-24.80-244.60-5.0017.6011.001.42
Diluted Shares Outstanding3.85M3.4M3.87M9.94M9.94M10.46M
Basic Shares Outstanding3.85M3.4M3.87M4.01M4.63M6.62M
Dividend Payout Ratio------

Balance Sheet

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+129.92M408.12M610.21M331.52M245.99M345.17M
Cash & Short-Term Investments81.29M285.34M489.53M251.54M125.48M243.48M
Cash Only81.29M285.34M489.53M251.54M125.48M243.48M
Short-Term Investments000000
Accounts Receivable25M35.25M36.12M36.53M58.48M48.31M
Days Sales Outstanding19.46366.829.7622.2129.9422.74
Inventory11.56M7.46M11.77M12.78M21.02M19.6M
Days Inventory Outstanding39.79110.3147.4233.2142.1135.44
Other Current Assets6.66M77.76M63.21M24.63M32.79M26.39M
Total Non-Current Assets+1.37B751.01M798.58M819.91M1.3B1.29B
Property, Plant & Equipment4.02M01.08M18.29M19.98M24.57M
Fixed Asset Turnover116.76x-409.46x32.82x35.68x31.56x
Goodwill1.06B683.33M718.2M715.26M947.36M943.12M
Intangible Assets300.54M67.02M78.51M81.98M241.16M233.12M
Long-Term Investments00002.87M6.93M
Other Non-Current Assets2.15M664K787K4.39M7.18M5.22M
Total Assets+1.5B1.16B1.41B1.15B1.55B1.64B
Asset Turnover0.31x0.03x0.31x0.52x0.46x0.47x
Asset Growth %--0.23%0.22%-0.18%0.35%0.06%
Total Current Liabilities+163.24M331.27M497.5M378.01M487.76M425.79M
Accounts Payable91.44M62.77M191.2M161.31M257.51M232.98M
Days Payables Outstanding314.87927.93770.15419.04515.92421.29
Short-Term Debt5.86M6.41M02.75M3.93M3.95M
Deferred Revenue (Current)1000K1000K1000K1000K1000K1000K
Other Current Liabilities27.61M18.59M207.2M6.44M141.25M25.75M
Current Ratio0.80x1.23x1.23x0.88x0.50x0.81x
Quick Ratio0.73x1.21x1.20x0.84x0.46x0.76x
Cash Conversion Cycle-255.62-450.82-692.96-363.62-443.87-363.11
Total Non-Current Liabilities+815.53M1.1B485.97M293.25M475.58M596.28M
Long-Term Debt606.59M870.9M460.13M264.9M264.63M384.96M
Capital Lease Obligations00014.91M16.21M18.73M
Deferred Tax Liabilities000000
Other Non-Current Liabilities208.94M228.74M25.83M13.45M194.73M192.59M
Total Liabilities978.77M1.43B983.46M671.27M963.34M1.02B
Total Debt+612.45M877.32M460.13M282.56M284.78M407.64M
Net Debt531.16M591.98M-29.4M31.02M159.3M164.16M
Debt / Equity1.18x-1.08x0.59x0.49x0.66x
Debt / EBITDA7.37x-5.83x3.21x2.87x4.62x
Net Debt / EBITDA6.39x--0.37x0.35x1.60x1.86x
Interest Coverage-0.24x-12.46x1.32x6.07x6.02x1.82x
Total Equity+518.28M-271.78M425.33M480.16M586.76M614.03M
Equity Growth %--1.52%2.56%0.13%0.22%0.05%
Book Value per Share134.71-79.94109.7748.3259.0158.72
Total Shareholders' Equity518.28M-271.78M-860.68M-382.7M105.02M261.11M
Common Stock0020K20K22K22K
Retained Earnings-252.49M-1.03B-1.04B-1.01B-939.6M-930.17M
Treasury Stock000-32.49M-52.59M-75.57M
Accumulated OCI-1.92M-822K00747K-880K
Minority Interest001.29B862.86M481.74M352.92M

Cash Flow

Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+76.48M-33.89M175.79M14.38M147.32M53.92M
Operating CF Margin %0.16%-0.97%0.4%0.02%0.21%0.07%
Operating CF Growth %--1.44%6.19%-0.92%9.25%-0.63%
Net Income-53.85M-774.18M-19.13M70.78M113.14M14.3M
Depreciation & Amortization93.08M48.25M2.32M9.9M18M45.94M
Stock-Based Compensation5.17M4.29M6.05M19.05M27.61M50.43M
Deferred Taxes3.37M000-44.86M1.25M
Other Non-Cash Items2.86M594.23M22.76M-4.59M-2.76M-4.98M
Working Capital Changes25.84M93.53M163.79M-80.77M36.19M-53.01M
Change in Receivables225K-10.25M-874K-329K-17.13M9.78M
Change in Inventory-1.63M4.09M-4.31M-1.01M-8.18M1.41M
Change in Payables1.79M-28.67M128.16M-30.78M53.82M-23.69M
Cash from Investing+-40.16M-7.61M-9.35M-15.41M-225.64M-26.74M
Capital Expenditures-9.21M-341K-1.13M-3.56M-895K-4.23M
CapEx % of Revenue0.02%0.01%0%0.01%0%0.01%
Acquisitions------
Investments------
Other Investing170K-7.26M-8.51M-11.85M-11.88M-22.52M
Cash from Financing+-55.46M245.54M38.03M-236.48M-43.43M86.08M
Debt Issued (Net)------
Equity Issued (Net)------
Dividends Paid-8.1M-120K-17.7M000
Share Repurchases------
Other Financing-400K-8.48M229.59M-11.21M-20.31M-11.12M
Net Change in Cash------
Free Cash Flow+67.27M-41.5M166.14M-1.03M134.54M49.7M
FCF Margin %0.14%-1.18%0.38%-0%0.19%0.06%
FCF Growth %--1.62%5%-1.01%131.37%-0.63%
FCF per Share17.48-12.2142.88-0.1013.534.75
FCF Conversion (FCF/Net Income)-1.42x0.04x-9.19x0.50x1.98x5.72x
Interest Paid034.59M72.74M14.79M19.33M19.5M
Taxes Paid00004.02M5.47M

Key Ratios

Metric201920202021202220232024
Return on Equity (ROE)-10.39%-628.15%-24.92%6.33%13.97%1.57%
Return on Invested Capital (ROIC)--78.42%16.04%12.92%9.7%4.16%
Gross Margin77.39%29.61%79.55%76.59%74.44%73.97%
Net Margin-11.48%-2207.1%-4.32%4.77%10.46%1.22%
Debt / Equity1.18x-1.08x0.59x0.49x0.66x
Interest Coverage-0.24x-12.46x1.32x6.07x6.02x1.82x
FCF Conversion-1.42x0.04x-9.19x0.50x1.98x5.72x
Revenue Growth--92.52%1163.04%35.49%18.76%8.8%

Revenue by Segment

2021202220232024
Owned Properties308.23M400.41M462.26M533.09M
Owned Properties Growth-29.91%15.45%15.32%
Concerts171.15M251.42M308.51M283.19M
Concerts Growth-46.90%22.70%-8.21%
Sports175.47M196.47M199.84M202.22M
Sports Growth-11.97%1.72%1.19%
Theater41.74M61.48M83.27M137.72M
Theater Growth-47.28%35.44%65.38%
Private Label81.44M110.68M135.13M114.81M
Private Label Growth-35.90%22.09%-15.04%
Other1.3M1.72M5.77M24.76M
Other Growth-32.08%235.33%329.11%

Frequently Asked Questions

Valuation & Price

Vivid Seats Inc. (SEAT) has a price-to-earnings (P/E) ratio of 5.8x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Vivid Seats Inc. (SEAT) reported $643.8M in revenue for fiscal year 2024. This represents a 37% increase from $468.9M in 2019.

Vivid Seats Inc. (SEAT) grew revenue by 8.8% over the past year. This is steady growth.

Vivid Seats Inc. (SEAT) reported a net loss of $155.0M for fiscal year 2024.

Dividend & Returns

Vivid Seats Inc. (SEAT) has a return on equity (ROE) of 1.6%. This is below average, suggesting room for improvement.

Vivid Seats Inc. (SEAT) had negative free cash flow of $30.4M in fiscal year 2024, likely due to heavy capital investments.

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