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Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits). He defines ROC (Joel Greenblatt) % as EBIT divided by the total of Property, Plant and Equipment and net working capital. Live Nation Entertainment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -23.20%.
The historical rank and industry rank for Live Nation Entertainment's ROC (Joel Greenblatt) % or its related term are showing as below:
BSP:L1YV34'
s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -64.6 Med: 23.96 Max: 37.34
Current: 17.72
During the past 13 years, Live Nation Entertainment's highest ROC (Joel Greenblatt) % was 37.34%. The lowest was -64.60%. And the median was 23.96%.
BSP:L1YV34's ROC (Joel Greenblatt) % is ranked better than 58.96% of 1016
companies
in the Media - Diversified industry
Industry Median: 9.685
vs BSP:L1YV34: 17.72
Live Nation Entertainment's 5-Year average Growth Rate of ROC (Joel Greenblatt) % was 0.00% per year.
Live Nation Entertainment (BSP:L1YV34) ROC (Joel Greenblatt) % Explanation
The way Joel Greenblatt defines Return on Capital is a more accurate measure of how efficiently the company generates returns onthe capital actually invested in the business. EBIT is used instead of net income because the tax and interest payment may be affected by factors other than the core business operation. Intangible assets are not included in the calculation because they don't need to be replaced.
Live Nation Entertainment ROC (Joel Greenblatt) % Related Terms
Live Nation Entertainment ROC (Joel Greenblatt) % Historical Data
* Premium members only.
The historical data trend for Live Nation Entertainment's ROC (Joel Greenblatt) % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Live Nation Entertainment ROC (Joel Greenblatt) % Chart
BSP:L1YV34 vs FWONA, FOXA, ROKU: ROC (Joel Greenblatt) % Comparison
For the Entertainment subindustry, Live Nation Entertainment's ROC (Joel Greenblatt) %, along with its competitors' market caps and ROC (Joel Greenblatt) % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Live Nation Entertainment ROC (Joel Greenblatt) % vs Media - Diversified Industry
For the Media - Diversified industry and Communication Services sector, Live Nation Entertainment's ROC (Joel Greenblatt) % distribution charts can be found below:
* The bar in red indicates where Live Nation Entertainment's ROC (Joel Greenblatt) % falls into.
Live Nation Entertainment ROC (Joel Greenblatt) % Calculation
Joel Greenblatt defined Return on Capital differently in his book The Little Book That Still Beats the Market (Little Books. Big Profits) . He defines Return on Capital as follows:
EBIT stands for Earnings Before Interest and Taxes.
Fixed Assets are also known as non-current assets. They include the Property, Plant and Equipment that the firm needs in its operation.
GuruFocus calculates net working capital as: (Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Deferred Revenue + Other Current Liabilities). We're trying to account for OPERATING assets and liabilities (part of daily business) when calculating working capital. Cash and marketable securities are considered NON-OPERATING assets and are not included in calculation. We will also back out all interest bearing debt, short term debt and the portion of long term debt that is due in the current period from the current liabilities. This debt will be considered when computing cost of capital and it would be inappropriate to count it twice.
Note:
The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
What does a ROC (Joel Greenblatt) % of -23.20% mean?
Live Nation Entertainment (BSP:L1YV34) has a ROC (Joel Greenblatt) % of -23.20% as of Mar. 2026. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Live Nation Entertainment and its competitors. According to the industry distribution chart, Live Nation Entertainment ranks #417 out of 1016 companies in the Media - Diversified industry, placing it in the top 41%.
Is Live Nation Entertainment's ROC (Joel Greenblatt) % too high?
Live Nation Entertainment's current ROC (Joel Greenblatt) % is -23.20%. Based on the distribution chart, Live Nation Entertainment ranks #417 out of 1016 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, Live Nation Entertainment has a GF Score™ of 80/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Live Nation Entertainment's ROC (Joel Greenblatt) % compare to FWONA and FOXA?
According to the Media - Diversified industry distribution chart, Live Nation Entertainment ranks #417 out of 1016 companies for ROC (Joel Greenblatt) %. This puts Live Nation Entertainment in the upper half of its industry. The industry median ROC (Joel Greenblatt) % is 9.69. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good ROC (Joel Greenblatt) % for a Media - Diversified company?
The median ROC (Joel Greenblatt) % among Media - Diversified companies is 9.69, based on 1,016 companies in the industry. Companies in the top quartile (top 25%) have a ROC (Joel Greenblatt) % significantly above this median, while those in the bottom quartile fall well below. However, ROC (Joel Greenblatt) % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high ROC (Joel Greenblatt) % mean?
A high ROC (Joel Greenblatt) % can signal that a stock is expensive relative to its fundamentals. Joel Greenblatt's return on capital is the ratio of EBIT to average fixed assets and net working capital. View historical data on Live Nation Entertainment and its competitors. For the Media - Diversified industry, the median ROC (Joel Greenblatt) % is 9.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Live Nation Entertainment's current ROC (Joel Greenblatt) % is -23.20%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Live Nation Entertainment stock overvalued right now?
Based on GuruFocus' analysis, Live Nation Entertainment (BSP:L1YV34) is currently considered Modestly Overvalued. The stock's GF Value™ is R$148.33, compared to a current price of R$179.51 — trading 21% above its estimated fair value. The current ROC (Joel Greenblatt) % is -23.20%. Live Nation Entertainment's overall GF Score™ is 80/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROC (Joel Greenblatt) % calculated?
ROC (Joel Greenblatt) % is calculated from a company's financial statements. For Live Nation Entertainment (BSP:L1YV34), the current ROC (Joel Greenblatt) % is -23.20% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Live Nation Entertainment (BSP:L1YV34) Overvalued in 2026?
Based on GuruFocus' analysis, Live Nation Entertainment stock appears to be overvalued.
The current stock price of R$179.51 is trading 21% above its estimated GF Value™ of R$148.33.
GuruFocus considers Live Nation Entertainment to be Modestly Overvalued.
Key valuation signals for BSP:L1YV34:
ROC (Joel Greenblatt) %: -23.20%
GF Value™: R$148.33 vs. price of R$179.51 (21% above fair value)
No single metric tells the full story. See the BSP:L1YV34 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Live Nation is the largest live entertainment company in the world, serving as a concert promoter, venue operator, and ticketing platform. In addition, the firm generates revenue from sponsorships and advertising. With offices in 51 countries, Live Nation promotes concerts globally and it owned, operated, or had exclusive booking rights to more than 400 venues worldwide at the end of 2025, which the firm says makes it the second-largest operator of music venues globally. In 2025, Live Nation promoted nearly 55,000 events, drawing roughly 160 million fans. Ticketmaster is a dominant global ticketing service, selling nearly 650 million tickets in 2025.
80GF Score
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ROC (Joel Greenblatt) % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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