Name: Equity Multiplier

Definition: The equity multiplier shows how much total assets the company controls for every dollar invested by shareholders. It reflects how much debt is being used to stretch owners’ equity. A higher multiplier means greater use of debt to amplify returns — but also amplifies risk if things go wrong. Lower multipliers suggest a safer, more self-funded business.

Interpretation:
• In '2021', LYV's equity multiplier was -24.72, representing the level of financial leverage utilized. Industry average for Services-Misc. Amusement & Recreation in '2021' stood at 2.76.
• In '2022', LYV's equity multiplier was -44.78, representing the level of financial leverage utilized. The decrease since '2021' reflects improving financial health. Industry average for Services-Misc. Amusement & Recreation in '2022' stood at 1.92. Industry average declined by 0.84 from previous year.
• In '2023', LYV's equity multiplier was -363.82, representing the level of financial leverage utilized. The decrease since '2022' reflects improving financial health. Industry average for Services-Misc. Amusement & Recreation in '2023' stood at 2.63. Industry average increased by 0.71 compared to previous year.
• In '2024', LYV's equity multiplier was 113.35, representing the level of financial leverage utilized. The increase compared to '2023' may signal growing financial pressure. Industry average for Services-Misc. Amusement & Recreation in '2024' stood at 2.57. Industry average declined by 0.05 from previous year.
Overall, LYV's equity multiplier has been volatile but showed an upward trend over the past 4 years.

Formula: Equity Multiplier = Total Assets / Shareholders' Equity

Good Range: Usually ranges from 1.5 to 3 depending on industry.