LIVE VENTURES Inc (NASDAQ: LIVE)

Sector: Consumer Cyclical Industry: Home Improvement Retail CIK: 0001045742
Market Cap 57.59 Mn
P/B 0.60
P/E 2.60
P/S 0.13
ROIC (Qtr) 3.95
Div Yield % 0.00
Rev 1y % (Qtr) -2.66
Total Debt (Qtr) 223.59 Mn
Debt/Equity (Qtr) 2.35
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About

Live Ventures Inc., often referred to as LIVE, is a diversified holding company that operates in various sectors, including Retail-Entertainment, Flooring, Manufacturing, and Steel-Manufacturing. The company's acquisition strategy is centered on well-run, middle-market companies with a proven track record of earnings growth and cash flow generation. This strategy has allowed LIVE to establish a robust presence in several industries. The Retail-Entertainment segment of LIVE is spearheaded by Vintage Stock, Inc., a specialty entertainment retailer...

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Investment thesis

Bull case

  • Operating cash flow of 29.12M provides strong 145.58x coverage of stock compensation 200000, indicating sustainable incentive practices.
  • Robust free cash flow of 21.91M exceeds capital expenditure of 7.21M by 3.04x, indicating strong organic growth funding capability.
  • Robust tangible asset base of 309.25M provides 4.47x coverage of working capital 69.14M, indicating strong operational backing.
  • Tangible assets of 309.25M provide robust 10.20x coverage of other current liabilities 30.32M, indicating strong asset backing.
  • Operating cash flow of 29.12M fully covers other non-current liabilities 12.66M by 2.30x, showing strong long-term stability.

Bear case

  • Operating cash flow of 29.12M barely covers its investment activities of (7.21M), with a coverage ratio of -4.04, indicating heavy reliance on external financing for growth which may not be sustainable in a tighter credit environment.
  • With cash reserves of 15.13M against inventory of 118.21M, the 0.13 cash-to-inventory ratio suggests potential liquidity risks if inventory turnover slows, particularly concerning given current supply chain volatilities.
  • Operating earnings of 42.69M show weak coverage of depreciation charges of 21.79M, with a 1.96 ratio indicating high capital intensity and potential reinvestment needs.
  • Free cash flow of 21.91M represents just -1.59x of debt issuance (13.81M), suggesting concerning reliance on leverage rather than internal cash generation for growth.
  • High depreciation of 21.79M relative to operating cash flow of 29.12M, which is 0.75x suggests significant maintenance capital requirements affecting free cash flow.

Segments Breakdown of Revenue (2025)

Segments Breakdown of Revenue (2025)

Peer comparison

Companies in the Home Improvement Retail
S.No. Ticker Company Market Cap P/E P/S Total Debt (Qtr)
1 HD Home Depot, Inc. 424.87 Bn 37.92 3.86 65.42 Bn
2 LOW Lowes Companies Inc 282.71 Bn 110.69 5.11 44.70 Bn
3 FND Floor & Decor Holdings, Inc. 7.47 Bn 34.45 1.60 1.99 Bn
4 HVT Haverty Furniture Companies Inc 0.57 Bn 67.28 0.92 0.21 Bn
5 LIVE LIVE VENTURES Inc 0.06 Bn 2.60 0.13 0.22 Bn
6 TBHC Brand House Collective, Inc. 0.03 Bn -1.00 0.07 0.19 Bn

Industry comparisons

Current Valuation Value Ind Avg Percentile
EV to Assets EV to Assets 0.68 2.29
EV to Cash from Ops. EV/CFO 9.11 22.64
EV to Debt EV to Debt 1.19 3.80
EV to EBIT EV/EBIT 6.21 29.44
EV to EBITDA EV/EBITDA 6.78 17.00
EV to Free Cash Flow [EV/FCF] EV/FCF 12.11 92.96
EV to Market Cap EV to Market Cap 4.61 2.67
EV to Revenue EV/Rev 0.60 2.22
Price to Book Value [P/B] P/B 0.60 -55.76
Price to Earnings [P/E] P/E 2.60 41.99
Dividend Metrics Value Ind Avg Percentile
Dividend Coverage Ratio Dividend Coverage Ratio 0.00 0.86
Dividend Payout Ratio % Div Payout % (Qtr) 0.00 34.62
Dividend per Basic Share Div per Share (Qtr) 0.00 2.52
FCF Dividend Payout Ratio % FCF Div Payout % (Qtr) 0.00 25.87
Interest Coverage Int. cover (Qtr) 2.86 17.24
Growth Metrics Value Ind Avg Percentile
Capex Growth (1y) % Capex 1y % (Qtr) 16.49 10.53
Cash and Equivalents Growth (1y) % Cash & Equiv 1y % (Qtr) 104.31 8.26
Dividend Growth (1y) % Dividend Growth (1y) % 0.00 -5.82
EBIAT Growth (1y) % EBIAT 1y % (Qtr) 407.04 58.71
EBITDA Growth (1y) % EBITDA 1y % (Qtr) 415.40 -15.87
EBIT Growth (1y) % EBIT 1y % (Qtr) 427.94 62.53
EBT Growth (1y) % EBT 1y % (Qtr) 192.89 24.00
EPS Growth (1y) % EPS 1y % (Qtr) 188.41 34.92
FCF Growth (1y) % FCF 1y % (Qtr) 62.21 -7.82
Gross Profit Growth (1y) % Gross Profit 1y % (Qtr) 1.27 -1.15
Liquidity Ratios Value Ind Avg Percentile
Asset Utilization Ratio Asset Util Ratio (Qtr) 1.14 1.34
Cash Payout Ratio Cash Payout (Qtr) 0.00 0.15
Cash Ratio Cash Ratio (Qtr) 0.15 0.23
Current Ratio Curr Ratio (Qtr) 1.68 1.29
Debt to Equity Ratio Debt/Equity (Qtr) 2.35 0.10
Interest Cover Ratio Int Coverage (Qtr) 2.86 17.24
Times Interest Earned Times Interest Earned (Qtr) 2.86 17.24
Profitability Value Ind Avg Percentile
EBITDA Margin % EBITDA Margin % (Qtr) 14.60 9.97
EBIT Margin % EBIT Margin % (Qtr) 9.66 6.49
EBT Margin % EBT Margin % (Qtr) 6.28 5.16
Gross Margin % Gross Margin % (Qtr) 33.00 38.12
Net Profit Margin % Net Margin % (Qtr) 5.00 3.72