What is an income statement waterfall?

An income statement waterfall is a bar chart that walks from total revenue down to net income, with each step showing how much a cost or tax line removes (or adds). Subtotals — gross profit, operating income, pre-tax income — are anchored to zero so the cascade reconciles exactly to the bottom line.

How much of Live Nation Entertainment (LYV) revenue becomes net income?

For TTM through Q1 2026, Live Nation Entertainment turned $25.61B of revenue into $83.67M of net income — a net margin of 0.3%. The waterfall shows where the rest goes: cost of revenue, operating expenses, non-operating items, and taxes.

What are Live Nation Entertainment (LYV) gross, operating, and net margins?

For TTM through Q1 2026, Live Nation Entertainment reported a gross margin of 44.7%, an operating margin of 5.5%, and a net margin of 0.3%. Each subtotal in the waterfall corresponds to one of these margins.

Why does Live Nation Entertainment (LYV) have such a high (or low) gross margin?

Gross margin (gross profit ÷ revenue) reflects how much of each revenue dollar remains after direct production costs. Capital-light software and platform businesses often show gross margins above 60–80% because their cost of revenue is mainly hosting and support. Hardware, retail, and commodity businesses show lower gross margins because raw materials and manufacturing costs are significant. The waterfall makes this visible at a glance — the size of the "Cost of Revenue" bar relative to Revenue is the gross margin complement.

What is the difference between gross, operating, and net margin?

Gross margin = (Revenue − Cost of Revenue) ÷ Revenue. It measures production efficiency. Operating margin = Operating Income ÷ Revenue. It adds operating expenses (R&D, S&M, G&A) and measures the profitability of core operations. Net margin = Net Income ÷ Revenue. It also includes interest, other income/expense, and taxes, and represents the shareholder take after everything.

Live Nation Entertainment (LYV) Income Statement Waterfall

Revenue

$25.61B

Gross Margin

+44.7%

Operating Margin

+5.5%

Net Margin

+0.3%

Income statement waterfall for Live Nation Entertainment (LYV) — TTM through Q1 2026

Net income: $83.67M

Margin breakdown for Live Nation Entertainment (LYV) — TTM through Q1 2026

Line item	Amount	Running total
Revenue	$25.61B	$25.61B
Cost of Revenue	−$14.15B	$11.46B
Gross Profit	$11.46B	$11.46B
Operating Expenses	−$10.06B	$1.40B
Operating Income	$1.40B	$1.40B
Other Income / Expense	−$844.02M	$552.41M
Pre-tax Income	$552.41M	$552.41M
Income Tax	−$287.99M	$264.42M
Other Items	−$180.75M	$83.67M
Net Income	$83.67M	$83.67M

Revenue$25.61B
Cost of Revenue−$14.15B
Gross Profit$11.46B
Operating Expenses−$10.06B
Operating Income$1.40B
Other Income / Expense−$844.02M
Pre-tax Income$552.41M
Income Tax−$287.99M
Other Items−$180.75M
Net Income$83.67M

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Buybacks0.07% TTM

No dividends or stock splits on record for this company.

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Income statement waterfall for Live Nation Entertainment (LYV) — TTM through Q1 2026

Margin breakdown for Live Nation Entertainment (LYV) — TTM through Q1 2026

Frequently asked questions

+What is an income statement waterfall?

+How much of Live Nation Entertainment (LYV) revenue becomes net income?

+What are Live Nation Entertainment (LYV) gross, operating, and net margins?

+Why does Live Nation Entertainment (LYV) have such a high (or low) gross margin?

+What is the difference between gross, operating, and net margin?

Data & methodology

+What is this view?

+How to read this waterfall

+How is the data calculated?

+What is the USD toggle?

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