Tearsheet
Investment Highlights Market Valuation Price Chart About LVS Interactive Breakdown Better Bets vs. LVS Latest Trefis Analyses Trade Ideas Recent Active Movers More From Trefis Peer Financials Peer Growth & Margins Peer Valuation Peer Returns Peer Analyses FDIC Bank Data Financials Segment Financials Price Behavior Short Interest Earnings Returns History SEC Filings Insider Activity Industry Resource Links External Quote Links

Las Vegas Sands (LVS)

Market Price (10/19/2025): $48.56 | Market Cap: $33.7 Bil
Sector: Consumer Discretionary | Industry: Casinos & Gaming

Las Vegas Sands (LVS)

Market Price (10/19/2025): $48.56
Market Cap: $33.7 Bil
Sector: Consumer Discretionary
Industry: Casinos & Gaming

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow

0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%, Dividend Yield is 2.1%		 Weak multi-year price returns
2Y Excs Rtn is -41%, 3Y Excs Rtn is -48%		 
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 22%		  
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 2.4 Bil		  
3 Low stock price volatility
Vol 12M is 38%		  
0 Attractive yield
Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 6.3%, Dividend Yield is 2.1%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 22%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 20%, CFO LTM is 2.4 Bil
3 Low stock price volatility
Vol 12M is 38%
4 Weak multi-year price returns
2Y Excs Rtn is -41%, 3Y Excs Rtn is -48%

Market Valuation & Key Metrics

LVSS&P 500
REVENUE GROWTHGOOD
Rev LTM ($ Bil)11.6
Rev Chg Q15.0%6.1%
Rev Chg LTM1.6%5.2%
Rev Chg 3Y Avg48.7%5.4%
PROFITABILITYGOOD
Op Inc LTM ($ Bil)2.5
Op Mgn LTM21.9%18.6%
CFO LTM ($ Bil)2.4
CFO/Rev LTM20.5%20.4%
Net Inc LTM ($ Bil)1.4
Net Inc Mgn12.2%12.7%
VALUATIONHIGH
P/S2.93.2
P/CFO14.215.9
P/FCF61.520.7
P/E23.924.0
STABILITYGOOD
Debt/Equity0.470.22
Cash/Assets0.160.07

LVS Stock

Return vs. Risk

Price Returns Compared

 202020212022202320242025Total [1]
Returns
LVS Return-12%-37%28%3%6%-4%-25%
Peers Return48%1%-37%12%8%-4%9%
S&P 500 Return16%27%-19%24%23%13%106%

Monthly Win Rates [3]
LVS Win Rate42%42%50%50%42%44% 
Peers Win Rate43%50%38%48%45%60% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
LVS Max Drawdown-44%-43%-20%-8%-22%-40% 
Peers Max Drawdown-64%-20%-52%-11%-24%-24% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 

[1] Cumulative total returns since the beginning of 2020
[2] Peers: WYNN, MGM, CZR, PENN, CDRO. See LVS Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/17/2025 (YTD)

Downturns Compared

Unique KeyEventLVSS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-54.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven119.6%34.1%
2022 Inflation ShockTime to BreakevenTime to BreakevenNot Fully Recovered days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-49.1%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven96.5%51.3%
2020 Covid PandemicTime to BreakevenTime to BreakevenNot Fully Recovered days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-40.4%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven67.8%24.7%
2018 CorrectionTime to BreakevenTime to BreakevenNot Fully Recovered days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-99.0%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven10080.3%131.3%
2008 Global Financial CrisisTime to BreakevenTime to BreakevenNot Fully Recovered days1480 days


How Low Can It Go?

Las Vegas Sands's stock fell -54.5% during the 2022 Inflation Shock from a high on 3/15/2021. A -54.5% loss requires a 119.6% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

Interactive Breakdown

Las Vegas Sands Interactive Breakdown Analysis

Better Bets than Las Vegas Sands (LVS)

 LVSBetter Performance than LVS
MetricValueIndustry (Casinos & Gaming)
Rev Chg LTM1.6%DKNG (25.8%), BYD (6.1%), CHDN (8.2%), SGHC (17.4%), LNW (3.9%)
Rev Chg 3Y Avg48.7%DKNG (53.4%)
Op Mgn LTM21.9%BYD (23.7%), CHDN (24.9%), LNW (24.7%), RRR (30.5%), BRSL (25.5%)
CFO/Rev LTM20.5%BYD (24.3%), CHDN (27.8%), RRR (28.4%), BRSL (44.9%), MCRI (27.8%)
FCF/Rev LTM4.7%DKNG (7.1%), WYNN (10.7%), MGM (7.5%), BYD (12.2%), CHDN (12.9%)
Total Yield6.3%BYD (8.3%), CHDN (6.6%), RRR (8.6%), BRSL (10.5%), GDEN (7.2%)
 LVSBetter Performance than LVS
MetricValueAll Other Sectors
Rev Chg LTM1.6%NVDA (71.6%), MSFT (14.9%), AAPL (6.0%), GOOGL (13.1%), META (19.4%)
Rev Chg 3Y Avg48.7%NVDA (92.0%), NU (70.1%), APO (129.8%), SLF (53.4%), RKLB (58.4%)
Op Mgn LTM21.9%NVDA (58.1%), MSFT (45.6%), AAPL (31.9%), GOOGL (32.7%), META (42.9%)
CFO/Rev LTM20.5%NVDA (46.6%), MSFT (48.3%), AAPL (26.6%), GOOGL (36.0%), META (56.4%)
FCF/Rev LTM4.7%NVDA (43.6%), MSFT (25.4%), AAPL (23.5%), GOOGL (18.0%), META (30.7%)
Total Yield6.3%JPM (6.8%), XOM (9.9%), JNJ (7.5%), BAC (7.1%), UNH (9.0%)
 Best Bets In Consumer Discretionary Sector
 LVSABNB BKNG MCD LOPE PRDO ALSN CROX GRMN WH YUM
What You Pay           
P/E23.929.534.226.225.015.28.919.630.618.028.3
P/EBIT12.629.721.118.219.611.16.717.127.310.616.5
What You Get           
Rev Chg Q15.0%12.7%16.0%5.4%8.8%26.6%-0.2%3.4%20.4%8.2%9.6%
Rev Chg LTM1.6%10.2%11.7%1.2%6.5%6.3%2.7%2.0%19.6%3.9%11.3%
Rev Chg 3Y Avg48.7%16.3%19.9%3.4%5.8%1.7%8.0%14.5%11.0%-3.2%5.9%
FCF/Rev 3Y Avg9.0%40.5%34.6%27.2%22.6%21.0%20.9%19.8%19.4%19.4%19.0%

[1] Choosing top 10 best bets from each sector quarterly is an alpha producing strategy vs sector benchmark
[2] Historical annualized return of 14%, alpha of 2.9%, and sharpe of 0.61

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Las Vegas Sands Earnings Notes  
2Las Vegas Sands Stock Fell 8.8% in a Month, What Now?Return 
3LVS at Support Zone - Bargain or Trap?Actionable 
4Day 5 of Loss Streak for Las Vegas Sands Stock with -6.8% Return (vs. 6.4% YTD) [9/6/2025]Notification 
5Day 5 of Loss Streak for Las Vegas Sands Stock with -6.8% Return (vs. 6.4% YTD) [9/5/2025]Notification 
6Day 5 of Loss Streak for Las Vegas Sands Stock with -6.9% Return (vs. 6.4% YTD) [9/5/2025]Notification 
7Las Vegas Sands vs Service International: Which Is A Better Investment?Counter-Intuitive Comparisons 
8Las Vegas Sands vs Churchill Downs: Which Is A Better Investment?Counter-Intuitive Comparisons 
9After LVS's 17% Climb in a Month, LNW Looks Like the Stronger Long-Term PlayCounter-Intuitive Comparisons 
10Day 6 of Gains Streak for Las Vegas Sands Stock with 16% Return (vs. -0.4% YTD) [7/10/2025]  
11ARTICLES  
12Las Vegas Sands Stock Near Crucial Support – Buy Signal? October 14th, 2025
13Las Vegas Sands Is Booming Again, But Watch The Price Tag October 9th, 2025
14LVS Testing Price Floor: Time to Load Up? October 4th, 2025
15S&P 500 Movers | Winners: HUM, CNC, CI | Losers: PLTR, LVS, WYNN October 3rd, 2025
16LVS Stock Down -6.8% after 5-Day Loss Streak September 6th, 2025
Title
0DASHBOARDS
1Las Vegas Sands Stock Near Crucial Support – Buy Signal?
2Las Vegas Sands Is Booming Again, But Watch The Price Tag
3LVS Testing Price Floor: Time to Load Up?
4S&P 500 Movers | Winners: HUM, CNC, CI | Losers: PLTR, LVS, WYNN
5LVS Stock Down -6.8% after 5-Day Loss Streak
6ARTICLES
7Las Vegas Sands Earnings Notes
8Las Vegas Sands Stock Fell 8.8% in a Month, What Now?
9LVS at Support Zone - Bargain or Trap?
10Day 5 of Loss Streak for Las Vegas Sands Stock with -6.8% Return (vs. 6.4% YTD) [9/6/2025]
11Day 5 of Loss Streak for Las Vegas Sands Stock with -6.8% Return (vs. 6.4% YTD) [9/5/2025]
12Day 5 of Loss Streak for Las Vegas Sands Stock with -6.9% Return (vs. 6.4% YTD) [9/5/2025]
13Las Vegas Sands vs Service International: Which Is A Better Investment?
14Las Vegas Sands vs Churchill Downs: Which Is A Better Investment?
15After LVS's 17% Climb in a Month, LNW Looks Like the Stronger Long-Term Play
16Day 6 of Gains Streak for Las Vegas Sands Stock with 16% Return (vs. -0.4% YTD) [7/10/2025]

Trade Ideas

Select past ideas related to LVS. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-20.0%-20.0%-20.0%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-1.5%-1.5%-6.2%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-6.8%-6.8%-7.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.5%0.5%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-8.1%-8.1%-11.7%
LVS_4302025_Dip_Buyer_ValueBuy04302025LVSLas Vegas SandsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		33.9%33.9%0.0%
LVS_3312020_Dip_Buyer_ValueBuy03312020LVSLas Vegas SandsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		10.0%43.1%-10.7%
LVS_10312018_Dip_Buyer_FCFYield10312018LVSLas Vegas SandsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		36.6%27.8%-3.8%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-20.0%-20.0%-20.0%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		-1.5%-1.5%-6.2%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		-6.8%-6.8%-7.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		0.5%0.5%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.		-8.1%-8.1%-11.7%
LVS_4302025_Dip_Buyer_ValueBuy04302025LVSLas Vegas SandsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		33.9%33.9%0.0%
LVS_3312020_Dip_Buyer_ValueBuy03312020LVSLas Vegas SandsDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin		10.0%43.1%-10.7%
LVS_10312018_Dip_Buyer_FCFYield10312018LVSLas Vegas SandsDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin		36.6%27.8%-3.8%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1PRAXPraxis Precision Medicines256.7%146.9%
2NVTSNavitas Semiconductor78.1%310.6%
3SSIISS Innovations International40.1%23.4%
4FLNCFluence Energy40.0%15.4%
5BTDRBitdeer Technologies35.1%10.8%
6MVSTMicrovast34.6%181.6%
7POWIPower Integrations31.3%-25.4%
8CCOClear Channel Outdoor30.8%24.1%
9IRONDisc Medicine28.7%41.9%
10BEBloom Energy28.4%402.0%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1SOCSable Offshore-35.8%-48.4%
2SRRKScholar Rock-29.2%-35.4%
3AIVApartment Investment & Management-28.3%-9.0%
4ALABAstera Labs-22.5%20.6%
5BYRNByrna Technologies-19.7%-26.6%
6BWINBaldwin Insurance-19.5%-40.3%
7ONDSOndas-17.5%197.3%
8URGUr-Energy-17.4%40.0%
9IIINInsteel Industries-16.4%14.6%
10LIFLife360-16.0%112.3%

1 Month Top Gainers

#TickerCompany1M RtnYTD Rtn
1WOLFWolfspeed1160.2%365.5%
2PRAXPraxis Precision Medicines320.1%146.9%
3QUREuniQure293.5%228.4%
4FLNCFluence Energy131.4%15.4%
5CLPTClearPoint Neuro123.6%65.0%
6NVTSNavitas Semiconductor117.8%310.6%
7LACLithium Americas110.9%128.6%
8ASTSAST SpaceMobile101.5%295.7%
9BETRBetter Home & Finance97.8%610.2%
10GRALGRAIL97.0%337.0%

1 Month Top Losers

#TickerCompany1M RtnYTD Rtn
1SOCSable Offshore-50.9%-48.4%
2FLYFirefly Aerospace-41.7% 
3PGYPagaya Technologies-39.5%185.3%
4UPWheels Up Experience-37.1%-6.7%
5ALABAstera Labs-36.6%20.6%
6VGVenture Global-35.8% 
7USNAUsana Health Sciences-32.3%-41.8%
8UPSTUpstart-31.7%-24.5%
9DOMODomo-30.8%73.6%
10TROXTronox-30.6%-63.2%

Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1PRAXPraxis Precision Medicines256.7%146.9%
2NVTSNavitas Semiconductor78.1%310.6%
3SSIISS Innovations International40.1%23.4%
4FLNCFluence Energy40.0%15.4%
5BTDRBitdeer Technologies35.1%10.8%
6MVSTMicrovast34.6%181.6%
7POWIPower Integrations31.3%-25.4%
8CCOClear Channel Outdoor30.8%24.1%
9IRONDisc Medicine28.7%41.9%
10BEBloom Energy28.4%402.0%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1SOCSable Offshore-35.8%-48.4%
2SRRKScholar Rock-29.2%-35.4%
3AIVApartment Investment & Management-28.3%-9.0%
4ALABAstera Labs-22.5%20.6%
5BYRNByrna Technologies-19.7%-26.6%
6BWINBaldwin Insurance-19.5%-40.3%
7ONDSOndas-17.5%197.3%
8URGUr-Energy-17.4%40.0%
9IIINInsteel Industries-16.4%14.6%
10LIFLife360-16.0%112.3%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Las Vegas Sands

Financials

LVSWYNNMGMCZRPENNCDROMedian
NameLas Vega.Wynn Res.MGM Reso.Caesars .PENN Ent.Codere O. 
Mkt Price48.54117.8131.5821.4516.266.7426.52
Mkt Cap33.712.28.64.52.4-8.6
Rev LTM11,6156,97017,21211,3746,746-11,374
Op Inc LTM2,5421,2711,4852,197244-1,485
FCF LTM5497431,29550-201-549
FCF 3Y Avg9876601,32129735-660
CFO LTM2,3801,2972,5321,221498-1,297
CFO 3Y Avg2,2941,1002,3571,480492-1,480

Growth & Margins

LVSWYNNMGMCZRPENNCDROMedian
NameLas Vega.Wynn Res.MGM Reso.Caesars .PENN Ent.Codere O. 
Rev Chg LTM1.6%-1.9%0.9%-0.1%7.3%-0.9%
Rev Chg 3Y Avg48.7%22.9%13.6%3.2%2.6%-13.6%
Rev Chg Q15.0%0.3%1.8%2.7%6.1%-2.7%
QoQ Delta Rev Chg LTM3.7%0.1%0.5%0.7%1.5%-0.7%
Op Mgn LTM21.9%18.2%8.6%19.3%3.6%-18.2%
Op Mgn 3Y Avg18.3%14.6%3.5%21.0%5.9%-14.6%
QoQ Delta Op Mgn LTM0.9%0.1%-0.6%-0.8%0.2%-0.1%
CFO/Rev LTM20.5%18.6%14.7%10.7%7.4%-14.7%
CFO/Rev 3Y Avg22.2%16.9%14.4%13.0%7.5%-14.4%
FCF/Rev LTM4.7%10.7%7.5%0.4%-3.0%-4.7%
FCF/Rev 3Y Avg9.0%9.9%8.1%2.6%0.5%-8.1%

Valuation

LVSWYNNMGMCZRPENNCDROMedian
NameLas Vega.Wynn Res.MGM Reso.Caesars .PENN Ent.Codere O. 
Mkt Cap33.712.28.64.52.4-8.6
P/S2.91.70.50.40.4-0.5
P/EBIT12.610.96.51.96.0-6.5
P/E23.931.816.0-23.0-32.0-16.0
P/CFO14.29.43.43.74.9-4.9
Total Yield6.3%4.4%6.3%-4.3%-3.1%-4.4%
Dividend Yield2.1%1.3%0.0%0.0%0.0%-0.0%
FCF Yield 3Y Avg3.0%6.6%10.7%2.9%-0.1%-3.0%
D/E0.51.03.65.64.6-3.6
Net D/E0.40.83.45.44.3-3.4

Returns

LVSWYNNMGMCZRPENNCDROMedian
NameLas Vega.Wynn Res.MGM Reso.Caesars .PENN Ent.Codere O. 
1M Rtn-8.8%-8.4%-12.1%-18.8%-15.4%-3.6%-10.5%
3M Rtn0.2%10.6%-15.1%-28.3%-9.9%-18.7%-12.5%
6M Rtn49.8%58.3%9.3%-15.9%13.4%-5.1%11.3%
12M Rtn-3.8%19.7%-23.3%-52.5%-14.4%-18.3%-16.3%
3Y Rtn42.2%122.0%-2.7%-42.5%-42.2%149.6%19.8%
1M Excs Rtn-9.3%-8.9%-12.6%-19.2%-15.8%-4.1%-10.9%
3M Excs Rtn-4.6%5.3%-20.7%-33.7%-17.0%-26.4%-18.8%
6M Excs Rtn23.7%32.2%-16.9%-42.1%-12.8%-31.2%-14.8%
12M Excs Rtn-17.3%5.4%-34.4%-66.9%-26.8%-32.9%-29.8%
3Y Excs Rtn-47.6%19.7%-84.1%-126.9%-130.8%73.9%-65.8%

Comparison Analyses

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date7/25/20254/25/20252/7/202510/25/20247/26/20244/19/20242/7/202410/20/20237/21/20234/21/20232/3/202310/21/2022
Key Financials Quarterly            
Total Revenue3,1752,8622,8962,6822,7612,9592,9152,7952,5422,1201,1171,005
Ebitda1,1941,0221,0049211,0121,1181,1301,099929701183137
Operating Income800620603519610734717695549394-163-171
Net Income461352324275353494382380312147-169-239
EPS0.660.490.450.380.480.660.500.500.410.19-0.22-0.31
Key Financials TTM            
Total Revenue TTM11,61511,20111,29811,31711,43011,21110,3728,5746,7845,2874,1104,001
Ebitda TTM4,1413,9594,0554,1814,3594,2763,8592,9121,9501,149406354
Operating Income TTM2,5422,3522,4662,5802,7562,6952,3551,475609-84-770-732
Net Income TTM1,4121,3041,4461,5041,6091,5681,22167051-5511,8321,878
Growth Rates Quarterly            
Total Revenue Growth15.0%-3.3%-0.7%-4.0%8.6%39.6%161.0%178.1%143.3%124.8%10.8%17.3%
EBITDA Growth18.0%-8.6%-11.2%-16.2%8.9%59.5%517.5%702.2%625.8%1769.0%39.7%172.9%
Operating Income Growth31.1%-15.5%-15.9%-25.3%11.1%86.3%539.9%506.4%481.2%234.9%-30.4%44.1%
Net Income Growth30.6%-28.7%-15.2%-27.6%13.1%236.1%326.0%259.0%207.6%-94.2%-37.4%35.1%
Margins Quarterly            
EBITDA Margin37.6%35.7%34.7%34.3%36.7%37.8%38.8%39.3%36.5%33.1%16.4%13.6%
Operating Income Margin25.2%21.7%20.8%19.4%22.1%24.8%24.6%24.9%21.6%18.6%-14.6%-17.0%
Net Income Margin14.5%12.3%11.2%10.3%12.8%16.7%13.1%13.6%12.3%6.9%-15.1%-23.8%
Cash & Debt            
Total Cash3,4503,0363,6504,2084,7114,9565,1055,5745,7686,5326,3115,836
Total Debt15,82013,85113,75214,01213,73813,95714,02914,39414,92015,98915,97815,293
Net Debt / (Cash)12,37010,81510,1029,8049,0279,0018,9248,8209,1529,4579,6679,457
Cash Flows Quarterly            
FCF from Operations1785269157618147141,006839941441-104-150
Cash Flows TTM            
FCF from Operations TTM2,3803,0163,2043,2953,3733,5003,2272,1171,1286-795-490
Returns to Shareholders Quarterly            
Dividends2461791451461481511521530000
Share Repurchases800416450450400450505-0-0-0-0-0
Return on Invested Capital (ROIC) Quarterly            
ROIC22.0%19.9%20.3%18.5%23.1%31.7%25.5%24.8%21.2%12.4%-6.3%-7.2%
Return on Invested Capital (ROIC) TTM            
ROIC TTM17.7%18.7%21.8%23.0%26.0%25.7%21.3%12.9%6.7%-0.9%-8.0%-7.7%

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Marina Bay Sands3,8492,5161,3701,2613,101
The Venetian Macao2,6826821,2567383,510
The Londoner Macao1,7923505882972,052
The Parisian Macao8791883572591,650
The Plaza Macao and Four Seasons Macao779313546265877
Sands Macao32265122120628
Inter-company Royalties2241078366 
Ferry Operations and Other105292828117
Intersegment revenues-260-140-116-94-241
Las Vegas Operating Properties    1,818
Sands Bethlehem    227
Total10,3724,1104,2342,94013,739


Operating Income by Segment
$ Mil20242023202220212020
Marina Bay Sands1,8611,0564483831,661
The Venetian Macao1,054-25297-531,407
The Londoner Macao516-189-84-184726
The Plaza Macao and Four Seasons Macao3088121933345
The Parisian Macao269-103-17-131544
Sands Macao59-81-69-76175
Ferry Operations and Other18-7-8-20-8
Inter-company Royalties00   
Pre-opening-15-13-19-19-34
Loss on disposal or impairment of assets-27-9-27-73-90
Stock-based compensation-29-33-12-15-14
Amortization of leasehold interests in land-58-55-56-55-51
Development-205-143-109-18-24
Corporate-230-235-211-168-313
Depreciation and amortization-1,208-1,036-1,041-997-1,165
Las Vegas Operating Properties    487
Sands Bethlehem    52
Total2,313-792-689-1,3933,698


Assets by Segment
$ Mil20242023202220212020
Marina Bay Sands6,3876,0675,3265,5925,880
Corporate and Other5,1675,4221,3571,4651,390
The Londoner Macao4,1934,4894,4944,2994,504
The Venetian Macao2,5482,1352,0872,4463,243
The Parisian Macao1,8021,8281,9622,1192,351
The Plaza Macao and Four Seasons Macao1,0591,0201,1451,2031,239
Ferry Operations and Other335870132141156
Sands Macao287208253320324
Las Vegas Operating Properties    4,112
Total21,77822,03916,75617,58523,199


Price Behavior

LVS Betas & Captures as of 9/30/2025

 1M2M3M6M1Y3Y
Beta0.350.450.441.191.040.95
Up Beta-1.740.710.111.041.010.98
Down Beta-1.34-0.540.801.361.271.07
Up Capture-11%56%105%158%78%62%
Bmk +ve Days13233574144420
Stock +ve Days11233873135390
Down Capture231%64%-35%112%95%98%
Bmk -ve Days8192952107330
Stock -ve Days10192653116359

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date9302025
Short Interest: Shares Quantity10,115,545
Short Interest: % Change Since 9152025-23.7%
Average Daily Volume5,454,261
Days-to-Cover Short Interest1.85
Basic Shares Quantity695,000,000
Short % of Basic Shares1.5%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/23/20254.3%9.3%10.4%
4/23/20256.5%6.7%17.4%
1/29/202511.1%0.2%3.5%
10/23/20242.8%3.7%-1.5%
7/24/2024-2.4%-1.6%2.4%
4/17/2024-8.7%-8.7%-6.8%
1/24/20241.0%-1.5%10.7%
10/18/20232.9%5.8%10.6%
...
SUMMARY STATS   
# Positive161716
# Negative878
Median Positive4.0%5.1%7.0%
Median Negative-4.3%-1.8%-5.9%
Max Positive12.0%19.2%27.7%
Max Negative-8.7%-9.9%-25.6%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025725202510-Q 6/30/2025
3312025425202510-Q 3/31/2025
12312024207202510-K 12/31/2024
93020241025202410-Q 9/30/2024
6302024726202410-Q 6/30/2024
3312024419202410-Q 3/31/2024
12312023207202410-K 12/31/2023
93020231020202310-Q 9/30/2023
6302023721202310-Q 6/30/2023
3312023421202310-Q 3/31/2023
12312022203202310-K 12/31/2022
93020221021202210-Q 9/30/2022
6302022722202210-Q 6/30/2022
3312022429202210-Q 3/31/2022
12312021204202210-K 12/31/2021
93020211022202110-Q 9/30/2021

Insider Activity

Expand for More

 

External Quote Links


Prefer one of these to Trefis? Tell us why.