Tearsheet

Las Vegas Sands (LVS)

Market Price (9/15/2025): $53.495 | Market Cap: $37.2 Bil
Sector: Consumer Discretionary | Industry: Casinos & Gaming

Las Vegas Sands (LVS)

Market Price (9/15/2025): $53.495
Market Cap: $37.2 Bil
Sector: Consumer Discretionary
Industry: Casinos & Gaming

Investment Highlights

0	Attractive yield Total YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 5.7%	Weak multi-year price returns 2Y Excs Rtn is -34%, 3Y Excs Rtn is -12%
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 5.7%
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 -34%, 3Y Excs Rtn is -12%

Market Valuation

	9/15/25	2024	2023	2022	2021
Share Price CYE	$53.49	$50.49	$47.54	$46.09	$36.09
Market Cap CYE ($ Bil)	37.2	36.3	36.1	35.2	27.6
Total Debt ($ Bil)	15.8	13.8	14.0	16.0	14.8
Total Cash ($ Bil)	3.5	3.7	5.1	6.3	1.9
Enterprise Value ($ Bil)	49.5	50.1	50.1	51.2	42.4
Valuation Ratios
P/S TTM	3.2	3.3	3.6	8.9	6.8
P/EBIT TTM	13.9	14.1	14.5	-53.6	-33.7
P/E TTM	26.3	26.1	30.8	20.1	-29.9
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9	0.8	1.3
P/EBIT TTM (Sector)	7.3	6.9	7.0	5.5	7.4
P/E TTM (Sector)	9.6	8.1	8.9	7.3	9.2

	9/15/25	2024	2023
Share Price CYE	$53.49	$50.49	$47.54
Market Cap CYE ($ Bil)	37.2	36.3	36.1
Total Debt ($ Bil)	15.8	13.8	14.0
Total Cash ($ Bil)	3.5	3.7	5.1
Enterprise Value ($ Bil)	49.5	50.1	50.1
Valuation Ratios
P/S TTM	3.2	3.3	3.6
P/EBIT TTM	13.9	14.1	14.5
P/E TTM	26.3	26.1	30.8
Sector Ratios
P/S TTM (Sector)	0.8	0.8	0.9
P/EBIT TTM (Sector)	7.3	6.9	7.0
P/E TTM (Sector)	9.6	8.1	8.9

Stock Price
Market Cap

Stock Price Chart

Return (1Y):

Market Cap Chart

Business Description

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore. The company also owns and operates The Venetian Resort Hotel Casino on the Las Vegas Strip; and the Sands Expo and Convention Center in Las Vegas, Nevada. Show more

Price Returns Compared

Expand for Detailed View

	2020	2021	2022	2023	2024	2025	Total [1]
Returns
LVS Return	-12%	-37%	28%	3%	6%	6%	-18%
Peers Return	46%	-7%	-20%	10%	-15%	4%	7%
S&P 500 Return	16%	27%	-19%	24%	23%	12%	104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: WYNN, MGM, CZR, PENN, LVS. See LVS Returns vs. Peers.
[3] 2025 data is for the year up to 9/12/2025 (YTD)

Interactive Breakdown

Las Vegas Sands Interactive Breakdown Analysis

Latest Trefis Analyses

	Title	Topic	Date
0	DASHBOARDS
1	Las Vegas Sands Earnings Notes
2	Day 5 of Loss Streak for Las Vegas Sands Stock with -6.8% Return (vs. 6.4% YTD) [9/6/2025]	Notification
3	Day 5 of Loss Streak for Las Vegas Sands Stock with -6.8% Return (vs. 6.4% YTD) [9/5/2025]	Notification
4	Day 5 of Loss Streak for Las Vegas Sands Stock with -6.9% Return (vs. 6.4% YTD) [9/5/2025]	Notification
5	Las Vegas Sands vs AT&T: Which Is A Better Investment?	Counter-Intuitive Comparisons
6	Las Vegas Sands vs Service International: Which Is A Better Investment?	Counter-Intuitive Comparisons
7	Las Vegas Sands vs Churchill Downs: Which Is A Better Investment?	Counter-Intuitive Comparisons
8	How Does LVS Stack Up Against Its Peers?	Peer Comparison
9	After LVS's 17% Climb in a Month, LNW Looks Like the Stronger Long-Term Play	Counter-Intuitive Comparisons
10	Day 6 of Gains Streak for Las Vegas Sands Stock with 16% Return (vs. -0.4% YTD) [7/10/2025]
11	ARTICLES
12	LVS Stock Down -6.8% after 5-Day Loss Streak		September 6th, 2025
13	LVS Stock Down -6.9% after 5-Day Loss Streak		September 5th, 2025
14	Mid Cap Stocks Trading At 52-Week High		August 25th, 2025
15	After LVS’s 20% Climb in a Month, LNW Looks Like the Stronger Long-Term Play		July 29th, 2025
16	LVS vs the Competition: Which Stock Comes Out on Top?		July 26th, 2025

	Title
0	DASHBOARDS
1	LVS Stock Down -6.8% after 5-Day Loss Streak
2	LVS Stock Down -6.9% after 5-Day Loss Streak
3	Mid Cap Stocks Trading At 52-Week High
4	After LVS’s 20% Climb in a Month, LNW Looks Like the Stronger Long-Term Play
5	LVS vs the Competition: Which Stock Comes Out on Top?
6	ARTICLES
7	Las Vegas Sands Earnings Notes
8	Day 5 of Loss Streak for Las Vegas Sands Stock with -6.8% Return (vs. 6.4% YTD) [9/6/2025]
9	Day 5 of Loss Streak for Las Vegas Sands Stock with -6.8% Return (vs. 6.4% YTD) [9/5/2025]
10	Day 5 of Loss Streak for Las Vegas Sands Stock with -6.9% Return (vs. 6.4% YTD) [9/5/2025]
11	Las Vegas Sands vs AT&T: Which Is A Better Investment?
12	Las Vegas Sands vs Service International: Which Is A Better Investment?
13	Las Vegas Sands vs Churchill Downs: Which Is A Better Investment?
14	How Does LVS Stack Up Against Its Peers?
15	After LVS's 17% Climb in a Month, LNW Looks Like the Stronger Long-Term Play
16	Day 6 of Gains Streak for Las Vegas Sands Stock with 16% Return (vs. -0.4% YTD) [7/10/2025]

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GCTK	GlucoTrack	117.5%	-97.6%
2	OPI	Office Properties Income Trust	78.6%	-42.6%
3	HCWB	HCW Biologics	68.4%	-68.7%
4	AGAE	Allied Gaming & Entertainment	62.4%	86.8%
5	ATCH	AtlasClear	53.4%	-95.9%
6	SONN	Sonnet BioTherapeutics	49.0%	304.1%
7	EVTV	Envirotech Vehicles	48.4%	-66.3%
8	ISPC	iSpecimen	47.7%	-26.6%
9	ENTO	Entero Therapeutics	37.0%	68.8%
10	IBEX	IBEX	36.5%	93.5%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	NXTT	Next Technology	-57.4%	-93.8%
2	VCIG	VCI Global	-42.8%	-98.7%
3	RENT	Rent the Runway	-36.4%	-40.9%
4	NUAI	New Era Energy & Digital	-30.5%
5	AEI	Alset	-29.6%	156.9%
6	NAKA	Kindly MD	-29.5%
7	XTIA	XTI Aerospace	-24.6%	-85.8%
8	FARM	Farmer Bros	-21.5%	1.7%
9	FEIM	Frequency Electronics	-21.0%	46.5%
10	MSS	Maison Solutions	-20.4%	-27.6%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	OCTO	Eightco	900.0%	562.1%
2	QMMM	QMMM	875.3%	5698.4%
3	WLDS	Wearable Devices	780.4%	8.0%
4	CWD	CaliberCos	268.8%	-45.1%
5	AIRE	ReAlpha Tech	257.5%	-49.8%
6	PTNM	Pitanium	154.0%
7	OPI	Office Properties Income Trust	144.0%	-42.6%
8	HYPD	Hyperion DeFi	144.0%
9	ISPC	iSpecimen	128.4%	-26.6%
10	EDHL	Everbright Digital	127.6%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	DGNX	Diginex	-85.6%
2	LGCL	Lucas GC	-69.1%	-76.6%
3	YYGH	YY	-68.7%	-76.6%
4	BINI	Bollinger Innovations	-61.6%	-100.0%
5	IPDN	Professional Diversity Network	-54.5%	-41.4%
6	INHD	Inno	-53.4%	-4.4%
7	CDT	CDT Equity	-49.2%	-99.4%
8	NFE	New Fortress Energy	-46.5%	-91.3%
9	TGHL	Growhub	-44.8%
10	SLXN	Silexion Therapeutics	-43.1%	-86.5%

1 Month Top Gainers

#	Ticker	Company	1M Rtn	YTD Rtn
1	PMI	Picard Medical	11249.2%	11249.2%
2	GIBO	GIBO	7400.0%
3	LNZA	LanzaTech Global	4710.5%	-85.8%
4	CHSN	Chanson International	3717.0%	-99.3%
5	QMMM	QMMM	2669.4%	5698.4%
6	VTAK	Catheter Precision	1332.7%	-71.4%
7	CURX	Curanex Pharmaceuticals	1309.0%	1309.0%
8	OCTO	Eightco	811.9%	562.1%
9	WLDS	Wearable Devices	708.6%	8.0%
10	PTNM	Pitanium	423.7%

1 Month Top Losers

#	Ticker	Company	1M Rtn	YTD Rtn
1	BINI	Bollinger Innovations	-93.4%	-100.0%
2	ETS	Elite Express	-92.8%	-92.8%
3	CJET	Chijet Motor	-92.7%	-94.6%
4	ELPW	Elong Power	-91.7%	-75.8%
5	STFS	Star Fashion Culture	-91.4%	-97.8%
6	JEM	707 Cayman	-90.4%	-98.0%
7	FLYE	Fly-E	-90.4%	-82.8%
8	NXTT	Next Technology	-89.3%	-93.8%
9	NUTR	NusaTrip	-87.2%	-87.2%
10	CUPR	Cuprina	-84.3%

Recent Active Movers

1 Day Top Gainers

#	Ticker	Company	1D Rtn	YTD Rtn
1	GCTK	GlucoTrack	117.5%	-97.6%
2	OPI	Office Properties Income Trust	78.6%	-42.6%
3	HCWB	HCW Biologics	68.4%	-68.7%
4	AGAE	Allied Gaming & Entertainment	62.4%	86.8%
5	ATCH	AtlasClear	53.4%	-95.9%
6	SONN	Sonnet BioTherapeutics	49.0%	304.1%
7	EVTV	Envirotech Vehicles	48.4%	-66.3%
8	ISPC	iSpecimen	47.7%	-26.6%
9	ENTO	Entero Therapeutics	37.0%	68.8%
10	IBEX	IBEX	36.5%	93.5%

1 Day Top Losers

#	Ticker	Company	1D Rtn	YTD Rtn
1	NXTT	Next Technology	-57.4%	-93.8%
2	VCIG	VCI Global	-42.8%	-98.7%
3	RENT	Rent the Runway	-36.4%	-40.9%
4	NUAI	New Era Energy & Digital	-30.5%
5	AEI	Alset	-29.6%	156.9%
6	NAKA	Kindly MD	-29.5%
7	XTIA	XTI Aerospace	-24.6%	-85.8%
8	FARM	Farmer Bros	-21.5%	1.7%
9	FEIM	Frequency Electronics	-21.0%	46.5%
10	MSS	Maison Solutions	-20.4%	-27.6%

1 Week Top Gainers

#	Ticker	Company	1W Rtn	YTD Rtn
1	OCTO	Eightco	900.0%	562.1%
2	QMMM	QMMM	875.3%	5698.4%
3	WLDS	Wearable Devices	780.4%	8.0%
4	CWD	CaliberCos	268.8%	-45.1%
5	AIRE	ReAlpha Tech	257.5%	-49.8%
6	PTNM	Pitanium	154.0%
7	OPI	Office Properties Income Trust	144.0%	-42.6%
8	HYPD	Hyperion DeFi	144.0%
9	ISPC	iSpecimen	128.4%	-26.6%
10	EDHL	Everbright Digital	127.6%

1 Week Top Losers

#	Ticker	Company	1W Rtn	YTD Rtn
1	DGNX	Diginex	-85.6%
2	LGCL	Lucas GC	-69.1%	-76.6%
3	YYGH	YY	-68.7%	-76.6%
4	BINI	Bollinger Innovations	-61.6%	-100.0%
5	IPDN	Professional Diversity Network	-54.5%	-41.4%
6	INHD	Inno	-53.4%	-4.4%
7	CDT	CDT Equity	-49.2%	-99.4%
8	NFE	New Fortress Energy	-46.5%	-91.3%
9	TGHL	Growhub	-44.8%
10	SLXN	Silexion Therapeutics	-43.1%	-86.5%

Peer Comparisons for Las Vegas Sands

Financials

	LVS	WYNN	MGM	CZR	PENN	Median
Name	Las Vega.	Wynn Res.	MGM Reso.	Caesars .	PENN Ent.
Mkt Price	53.50	121.45	34.55	25.09	19.61	34.55
Mkt Cap	37.2	12.6	9.4	5.2	2.9	9.4
Rev LTM	11,615	6,970	17,212	11,374	6,746	11,374
Op Inc LTM	2,542	1,271	1,485	2,197	244	1,485
FCF LTM	549	743	1,295	50	-201	549
FCF 3Y Avg	987	660	1,321	297	35	660
CFO LTM	2,380	1,297	2,532	1,221	498	1,297
CFO 3Y Avg	2,294	1,100	2,357	1,480	492	1,480

Growth & Margins

	LVS	WYNN	MGM	CZR	PENN	Median
Name	Las Vega.	Wynn Res.	MGM Reso.	Caesars .	PENN Ent.
Rev Chg LTM	1.6%	-1.9%	0.9%	-0.1%	7.3%	0.9%
Rev Chg 3Y Avg	48.7%	22.9%	13.6%	3.2%	2.6%	13.6%
Rev Chg Q	15.0%	0.3%	1.8%	2.7%	6.1%	2.7%
QoQ Delta Rev Chg LTM	3.7%	0.1%	0.5%	0.7%	1.5%	0.7%
Op Mgn LTM	21.9%	18.2%	8.6%	19.3%	3.6%	18.2%
Op Mgn 3Y Avg	18.3%	14.6%	3.5%	21.0%	5.9%	14.6%
QoQ Delta Op Mgn LTM	0.9%	0.1%	-0.6%	-0.8%	0.2%	0.1%
CFO/Rev LTM	20.5%	18.6%	14.7%	10.7%	7.4%	14.7%
CFO/Rev 3Y Avg	22.2%	16.9%	14.4%	13.0%	7.5%	14.4%
FCF/Rev LTM	4.7%	10.7%	7.5%	0.4%	-3.0%	4.7%
FCF/Rev 3Y Avg	9.0%	9.9%	8.1%	2.6%	0.5%	8.1%

Valuation

	LVS	WYNN	MGM	CZR	PENN	Median
Name	Las Vega.	Wynn Res.	MGM Reso.	Caesars .	PENN Ent.
Mkt Cap	37.2	12.6	9.4	5.2	2.9	9.4
P/S	3.2	1.8	0.5	0.5	0.4	0.5
P/EBIT	13.9	11.3	7.1	2.3	7.3	7.3
P/E	26.3	32.7	17.5	-26.9	-38.6	17.5
P/CFO	15.6	9.7	3.7	4.3	5.9	5.9
Total Yield	5.7%	4.3%	5.7%	-3.7%	-2.6%	4.3%
Dividend Yield	1.9%	1.3%	0.0%	0.0%	0.0%	0.0%
FCF Yield 3Y Avg	3.0%	6.6%	10.7%	2.9%	-0.1%	3.0%
D/E	0.4	1.0	3.3	4.8	3.8	3.3
Net D/E	0.3	0.8	3.1	4.6	3.6	3.1

Returns

	LVS	WYNN	MGM	CZR	PENN	Median
Name	Las Vega.	Wynn Res.	MGM Reso.	Caesars .	PENN Ent.
1M Rtn	-0.3%	11.0%	-3.8%	-0.9%	7.5%	-0.3%
3M Rtn	33.3%	44.6%	8.9%	-1.8%	25.6%	25.6%
6M Rtn	25.3%	41.6%	8.8%	-10.6%	14.7%	14.7%
12M Rtn	36.5%	56.4%	-5.4%	-35.5%	-1.5%	-1.5%
3Y Rtn	40.6%	91.2%	0.4%	-46.2%	-36.3%	0.4%
1M Excs Rtn	-3.3%	6.8%	-7.0%	-4.3%	8.4%	-3.3%
3M Excs Rtn	19.4%	30.9%	-4.7%	-17.0%	10.1%	10.1%
6M Excs Rtn	7.2%	27.4%	-4.7%	-25.0%	1.6%	1.6%
12M Excs Rtn	19.3%	43.0%	-20.7%	-50.3%	-7.2%	-7.2%
3Y Excs Rtn	-12.1%	41.3%	-62.6%	-110.0%	-103.8%	-62.6%

Comparison Analyses

	Title
0	How Does LVS Stack Up Against Its Peers?
1	Las Vegas Sands vs. Penn National Gaming: With Return Forecast Of 86%, Las Vegas Sands Is A Better Bet
2	Why MGM With 39% Upside May Beat LVS?
3	With 21% Gains On The Table, LVS May Outshine CZR
4	Why WYNN With 42% Upside May Beat LVS?
5	Las Vegas Sands vs. Autodesk: With Return Forecast Of 112%, Las Vegas Sands Is A Better Bet
6	Las Vegas Sands vs. Paychex: With Return Forecast Of 112%, Las Vegas Sands Is A Better Bet
7	Las Vegas Sands vs. Albemarle: With Return Forecast Of 227%, Las Vegas Sands Is A Better Bet
8	Las Vegas Sands vs. Synopsys: With Return Forecast Of 227%, Las Vegas Sands Is A Better Bet
9	Las Vegas Sands vs. Wisconsin Energy: With Return Forecast Of 216%, Las Vegas Sands Is A Better Bet

Financials

Annual
Quarterly

$ Mil \| FY: 12/31	LTM	2024	2023	2022	2021	2020	2019
Period End		12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019
Filing Date		2/7/2025	2/7/2024	2/3/2023	2/4/2022	2/5/2021	2/7/2020
Key Financials
Total Revenue	11,615	11,298	10,372	4,110	4,234	2,940	12,127
Ebitda	4,141	4,055	3,859	406	244	-301	5,120
Operating Income	2,542	2,466	2,355	-770	-643	-1,301	3,480
Net Income	1,412	1,446	1,221	1,832	-961	-1,685	2,698
EPS	1.98	1.97	1.60	2.40	-1.26	-2.21	3.50
Growth Rates
Total Revenue Growth	1.6%	8.9%	152.4%	-2.9%	44.0%	-75.8%	-11.7%
EBITDA Growth	-5.0%	5.1%	850.5%	66.4%	181.1%	-105.9%	4.1%
Operating Income Growth	-7.8%	4.7%	405.8%	-19.8%	50.6%	-137.4%	-10.9%
Net Income Growth	-12.2%	18.4%	-33.4%	290.6%	43.0%	-162.5%	11.8%
Margins
EBITDA Margin	35.7%	35.9%	37.2%	9.9%	5.8%	-10.2%	42.2%
Operating Income Margin	21.9%	21.8%	22.7%	-18.7%	-15.2%	-44.3%	28.7%
Net Income Margin	12.2%	12.8%	11.8%	44.6%	-22.7%	-57.3%	22.2%
Cash & Debt
Total Cash	3,450	3,650	5,105	6,311	1,854	2,082	4,226
Total Debt	15,820	13,752	14,029	15,978	14,795	14,004	12,492
Net Debt / (Cash)	12,370	10,102	8,924	9,667	12,941	11,922	8,266
Cash Flows
Net Cash from Operations	2,380	3,204	3,227	-795	15	-1,312	3,038
Free Cash from Operations	549	1,624	1,970	-1,575	-824	-2,539	1,967
Returns to Shareholders
Dividends	716	590	305	-0	-0	911	3,000
Share Repurchases	2,116	1,750	505	-0	-0	-0	754

$ Mil \| FY: 12/31	2025Q2	2025Q1	2024Q4	2024Q3	2024Q2	2024Q1	2023Q4	2023Q3	2023Q2	2023Q1	2022Q4	2022Q3
Period End	6/30/2025	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Filing Date	7/25/2025	4/25/2025	2/7/2025	10/25/2024	7/26/2024	4/19/2024	2/7/2024	10/20/2023	7/21/2023	4/21/2023	2/3/2023	10/21/2022
Key Financials Quarterly
Total Revenue	3,175	2,862	2,896	2,682	2,761	2,959	2,915	2,795	2,542	2,120	1,117	1,005
Ebitda	1,194	1,022	1,004	921	1,012	1,118	1,130	1,099	929	701	183	137
Operating Income	800	620	603	519	610	734	717	695	549	394	-163	-171
Net Income	461	352	324	275	353	494	382	380	312	147	-169	-239
EPS	0.66	0.49	0.45	0.38	0.48	0.66	0.50	0.50	0.41	0.19	-0.22	-0.31
Key Financials TTM
Total Revenue TTM	11,615	11,201	11,298	11,317	11,430	11,211	10,372	8,574	6,784	5,287	4,110	4,001
Ebitda TTM	4,141	3,959	4,055	4,181	4,359	4,276	3,859	2,912	1,950	1,149	406	354
Operating Income TTM	2,542	2,352	2,466	2,580	2,756	2,695	2,355	1,475	609	-84	-770	-732
Net Income TTM	1,412	1,304	1,446	1,504	1,609	1,568	1,221	670	51	-551	1,832	1,878
Growth Rates Quarterly
Total Revenue Growth	15.0%	-3.3%	-0.7%	-4.0%	8.6%	39.6%	161.0%	178.1%	143.3%	124.8%	10.8%	17.3%
EBITDA Growth	18.0%	-8.6%	-11.2%	-16.2%	8.9%	59.5%	517.5%	702.2%	625.8%	1769.0%	39.7%	172.9%
Operating Income Growth	31.1%	-15.5%	-15.9%	-25.3%	11.1%	86.3%	539.9%	506.4%	481.2%	234.9%	-30.4%	44.1%
Net Income Growth	30.6%	-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 Margin	37.6%	35.7%	34.7%	34.3%	36.7%	37.8%	38.8%	39.3%	36.5%	33.1%	16.4%	13.6%
Operating Income Margin	25.2%	21.7%	20.8%	19.4%	22.1%	24.8%	24.6%	24.9%	21.6%	18.6%	-14.6%	-17.0%
Net Income Margin	14.5%	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 Cash	3,450	3,036	3,650	4,208	4,711	4,956	5,105	5,574	5,768	6,532	6,311	5,836
Total Debt	15,820	13,851	13,752	14,012	13,738	13,957	14,029	14,394	14,920	15,989	15,978	15,293
Net Debt / (Cash)	12,370	10,815	10,102	9,804	9,027	9,001	8,924	8,820	9,152	9,457	9,667	9,457
Cash Flows Quarterly
FCF from Operations	178	526	915	761	814	714	1,006	839	941	441	-104	-150
Cash Flows TTM
FCF from Operations TTM	2,380	3,016	3,204	3,295	3,373	3,500	3,227	2,117	1,128	6	-795	-490
Returns to Shareholders Quarterly
Dividends	246	179	145	146	148	151	152	153	0	0	0	0
Share Repurchases	800	416	450	450	400	450	505	-0	-0	-0	-0	-0
Return on Invested Capital (ROIC) Quarterly
ROIC	22.0%	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 TTM	17.7%	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

$ Mil	2024	2023	2022	2021	2020
Marina Bay Sands	3,849	2,516	1,370	1,261	3,101
The Venetian Macao	2,682	682	1,256	738	3,510
The Londoner Macao	1,792	350	588	297	2,052
The Parisian Macao	879	188	357	259	1,650
The Plaza Macao and Four Seasons Macao	779	313	546	265	877
Sands Macao	322	65	122	120	628
Inter-company Royalties	224	107	83	66
Ferry Operations and Other	105	29	28	28	117
Intersegment revenues	-260	-140	-116	-94	-241
Las Vegas Operating Properties					1,818
Sands Bethlehem					227
Total	10,372	4,110	4,234	2,940	13,739

Operating Income by Segment

$ Mil	2024	2023	2022	2021	2020
Marina Bay Sands	1,861	1,056	448	383	1,661
The Venetian Macao	1,054	-25	297	-53	1,407
The Londoner Macao	516	-189	-84	-184	726
The Plaza Macao and Four Seasons Macao	308	81	219	33	345
The Parisian Macao	269	-103	-17	-131	544
Sands Macao	59	-81	-69	-76	175
Ferry Operations and Other	18	-7	-8	-20	-8
Inter-company Royalties	0	0
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
Total	2,313	-792	-689	-1,393	3,698

Assets by Segment

$ Mil	2024	2023	2022	2021	2020
Marina Bay Sands	6,387	6,067	5,326	5,592	5,880
Corporate and Other	5,167	5,422	1,357	1,465	1,390
The Londoner Macao	4,193	4,489	4,494	4,299	4,504
The Venetian Macao	2,548	2,135	2,087	2,446	3,243
The Parisian Macao	1,802	1,828	1,962	2,119	2,351
The Plaza Macao and Four Seasons Macao	1,059	1,020	1,145	1,203	1,239
Ferry Operations and Other	335	870	132	141	156
Sands Macao	287	208	253	320	324
Las Vegas Operating Properties					4,112
Total	21,778	22,039	16,756	17,585	23,199

Price Behavior

Behavior Stats
Betas Matrix

Price Behavior

Market Price	$53.50
Market Cap ($ Bil)	37.2
First Trading Date	12/15/2004
Distance from 52W High	-7.3%
	50 Days	200 Days
DMA Price	$52.52	$45.38
DMA Trend	up	up
Distance from DMA	1.9%	17.9%
	3M	1YR
Volatility	27.8%	38.5%
Downside Capture	-0.06	0.67
Upside Capture	143.94	103.79
Correlation (SPY)	33.2%	53.7%

LVS Betas & Captures as of 8/31/2025

	1M	2M	3M	6M	1Y	3Y
Beta	0.53	0.61	1.16	1.12	1.04	0.94
Up Beta	0.85	0.28	0.40	1.03	0.97	0.98
Down Beta	-0.13	0.15	1.97	1.28	1.33	1.04
Up Capture	116%	175%	211%	138%	109%	66%
Bmk +ve Days	10	22	35	71	142	415
Stock +ve Days	12	26	38	71	138	390
Down Capture	-31%	-13%	34%	98%	83%	96%
Bmk -ve Days	11	19	27	54	106	334
Stock -ve Days	9	16	25	55	111	359

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

Short Interest

Short Interest: As Of Date	8292025
Short Interest: Shares Quantity	14,983,840
Short Interest: % Change Since 8152025	1.4%
Average Daily Volume	3,933,474
Days-to-Cover Short Interest	3.81
Basic Shares Quantity	695,000,000
Short % of Basic Shares	2.2%

Returns Analyses

	Title
0	Las Vegas Sands During 2008 Recession vs. 2022 Inflation Shock: LVS Stock Has 19% Upside If It Recovers To Pre-Inflation Shock Levels
1	LVS YTD Stock Return Of 1.8% Outperforms SGMS by 102% and Underperforms WYNN by -7.8%
2	Las Vegas Sands Stock Return Comparison

Earnings Returns History

Expand for More

	Forward Returns
Earnings Date	1D Returns	5D Returns	21D Returns
7/23/2025	4.3%	9.3%	10.4%
4/23/2025	6.5%	6.7%	17.4%
1/29/2025	11.1%	0.2%	3.5%
10/23/2024	2.8%	3.7%	-1.5%
7/24/2024	-2.4%	-1.6%	2.4%
4/17/2024	-8.7%	-8.7%	-6.8%
1/24/2024	1.0%	-1.5%	10.7%
10/18/2023	2.9%	5.8%	10.6%
...
SUMMARY STATS
# Positive	16	17	16
# Negative	8	7	8
Median Positive	4.0%	5.1%	7.0%
Median Negative	-4.3%	-1.8%	-5.9%
Max Positive	12.0%	19.2%	27.7%
Max Negative	-8.7%	-9.9%	-25.6%

	Forward Returns
7/23/2025	4.3%	9.3%	10.4%
4/23/2025	6.5%	6.7%	17.4%
1/29/2025	11.1%	0.2%	3.5%
10/23/2024	2.8%	3.7%	-1.5%
7/24/2024	-2.4%	-1.6%	2.4%
4/17/2024	-8.7%	-8.7%	-6.8%
1/24/2024	1.0%	-1.5%	10.7%
10/18/2023	2.9%	5.8%	10.6%
7/19/2023	-5.4%	-1.8%	-10.0%
4/19/2023	3.7%	4.1%	2.2%
1/25/2023	6.1%	7.1%	2.1%
10/19/2022	5.6%	-0.4%	24.4%
7/20/2022	6.6%	5.1%	1.7%
4/27/2022	2.4%	6.4%	-1.9%
1/26/2022	-4.6%	1.4%	0.9%
10/20/2021	-1.9%	2.0%	-2.5%
7/21/2021	-4.5%	-9.9%	-25.6%
4/21/2021	-4.0%	1.6%	-4.9%
1/27/2021	0.1%	9.7%	27.7%
10/21/2020	8.4%	2.0%	27.5%
7/22/2020	-4.2%	-5.4%	1.3%
4/22/2020	12.0%	19.2%	18.4%
1/29/2020	2.3%	4.9%	-9.9%
10/23/2019	3.3%	5.6%	1.9%
SUMMARY STATS
# Positive	16	17	16
# Negative	8	7	8
Median Positive	4.0%	5.1%	7.0%
Median Negative	-4.3%	-1.8%	-5.9%
Max Positive	12.0%	19.2%	27.7%
Max Negative	-8.7%	-9.9%	-25.6%

SEC Filings

Expand for More

Report Date	Filing
6302025	10-Q 6/30/2025
3312025	10-Q 3/31/2025
12312024	10-K 12/31/2024
9302024	10-Q 9/30/2024
6302024	10-Q 6/30/2024
3312024	10-Q 3/31/2024
12312023	10-K 12/31/2023
9302023	10-Q 9/30/2023
6302023	10-Q 6/30/2023
3312023	10-Q 3/31/2023
12312022	10-K 12/31/2022
9302022	10-Q 9/30/2022
6302022	10-Q 6/30/2022
3312022	10-Q 3/31/2022
12312021	10-K 12/31/2021
9302021	10-Q 9/30/2021

Insider Activity

Expand for More

	Owner	Title	Filing Date	Action	Price	Shares	Transacted Value	Value of Held Shares	Form
0	Forman Charles D		8072025	Sell	52.63	10,000	526,300	10,937,988	Form
1	Pant Muktesh		3182025	Buy	43.51	23,000	1,000,730	1,000,730	Form
2	Goldstein Robert G	Chairman & CEO	12032024	Sell	53.02	60,187	3,191,115		Form
3	Hudson D. Zachary	EVP and Global General Counsel	12022024	Sell	51.40	25,785	1,325,349		Form
4	Goldstein Robert G	Chairman & CEO	11122024	Sell	52.00	24,324	1,264,848	3,129,724	Form

External Quote Links

0	Y Finance	Barrons
1	TradingView	Morningstar
2	SeekingAlpha	ValueLine
3	Motley Fool	Robinhood
4	CNBC	Etrade
5	MarketWatch	Unusual Whales
6	YCharts	Perplexity Finance
7	FinViz

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Las Vegas Sands (LVS)

Market Price (9/15/2025): $53.495 | Market Cap: $37.2 BilSector: Consumer Discretionary | Industry: Casinos & Gaming

Las Vegas Sands (LVS)

Market Price (9/15/2025): $53.495Market Cap: $37.2 BilSector: Consumer DiscretionaryIndustry: Casinos & Gaming

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Market Price (9/15/2025): $53.495 | Market Cap: $37.2 Bil
Sector: Consumer Discretionary | Industry: Casinos & Gaming

Market Price (9/15/2025): $53.495
Market Cap: $37.2 Bil
Sector: Consumer Discretionary
Industry: Casinos & Gaming