Las Vegas Sands Corp (LVS)

Las Vegas Sands Corp., together with its subsidiaries, owns, develops, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, and The Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore. The company's integrated resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants, and other amenities. The company was founded in 1988 and is based in Las Vegas, Nevada.

Symbol: LVS
Exchange: NYSE
Sector: Consumer Cyclical
Industry: Resorts & Casinos
Market cap: $23.48B
52 week range: 36.21 - 70.45

Valuation

Share price: $36.23 (close of 2026-10-02)
P/E (TTM): 14.04x
Price to book: 26.17x
Price to free cash flow: 8.69x
Enterprise value: $35.36B
Book value per share: $1.38

Price performance

Period	Change
1 day	-1.25%
5 days	-7.08%
1 month	-18.66%
3 months	-22.90%
6 months	-33.33%
Year to date	-44.34%
1 year	-34.19%
3 years	-20.72%
5 years	-5.11%
10 years	-37.04%
All time	-22.19%

Members of Congress who disclosed LVS trades

Julia Letlow · Julie Johnson

Super investors holding LVS

Ken Griffin (Citadel) · Ray Dalio (Bridgewater Associates) · Dodge & Cox (Dodge & Cox Funds)

Profitability and growth

Return on equity: 84.13%
Return on invested capital: 17.81%
Return on assets: 7.42%
Return on capital employed: 15.92%
Gross margin: 32.84%
Net margin: 12.50%
EBITDA margin: 32.90%
Revenue growth: 15.22%
Net income growth: 12.52%
Free cash flow growth: 13.32%

Cash flow and balance sheet

Free cash flow yield (TTM): 11.51%
Current ratio: 1.00x
Net debt to EBITDA: 2.57x

Latest reported year

Period end: 2025-12-31
Fiscal year: 2025
Revenue: $13.02B
Cost of revenue: $8.74B
Gross profit: $4.28B
EBITDA: $4.28B
Net income: $1.63B
Earnings per share: $2.35
Research and development: $269.00M
Interest expense: $746.00M
Shares outstanding: 691.00M

Income statement by year

Period end	Revenue	Gross profit	Net income	EPS
2025-12-31	$13.02B	$4.28B	$1.63B	$2.35
2024-12-31	$11.30B	$3.78B	$1.45B	$1.97
2023-12-31	$10.37B	$3.63B	$1.22B	$1.60
2022-12-31	$4.11B	$287.00M	$1.83B	$2.40
2021-12-31	$4.23B	$251.00M	-$961.00M	$-1.26
2020-12-31	$2.94B	-	-$1.69B	$-2.21
2019-12-31	$12.13B	$4.48B	$2.70B	$3.50
2018-12-31	$13.73B	$5.23B	$2.41B	$3.07
2017-12-31	$12.73B	$4.88B	$2.81B	$3.55
2016-12-31	$11.27B	$3.79B	$1.68B	$2.11

Margins and returns by year

Period end	Gross margin	Net margin	Return on equity	Return on capital
2025-12-31	32.84%	12.50%	84.13%	17.81%
2024-12-31	33.46%	12.80%	45.76%	16.54%
2023-12-31	34.95%	11.77%	29.75%	15.11%
2022-12-31	6.98%	44.57%	50.11%	-5.94%
2021-12-31	5.93%	-22.70%	-42.75%	-116.52%
2020-12-31	-	-57.31%	-47.63%	-84.58%
2019-12-31	36.97%	22.25%	41.46%	111.48%
2018-12-31	38.12%	17.58%	35.77%	160.99%
2017-12-31	38.35%	22.06%	36.82%	66.51%
2016-12-31	33.62%	14.90%	22.43%	42.24%

Cash and debt by year

Period end	Cash
2025-12-31	$3.84B
2024-12-31	$3.65B
2023-12-31	$5.11B
2022-12-31	$6.31B
2021-12-31	$1.85B
2020-12-31	$2.08B
2019-12-31	$4.23B
2018-12-31	$4.65B
2017-12-31	$2.42B
2016-12-31	$2.13B

Free cash flow by year

Period end	Free cash flow	Stock-based compensation
2025-12-31	$1.85B	$54.00M
2024-12-31	$1.64B	$55.00M
2023-12-31	$2.21B	$44.00M
2022-12-31	-$1.59B	$39.00M
2021-12-31	-$1.07B	$22.00M
2020-12-31	-$2.54B	$22.00M
2019-12-31	$2.02B	$35.00M
2018-12-31	$3.75B	$30.00M
2017-12-31	$3.71B	$34.00M
2016-12-31	$2.65B	$34.00M

Dividend history

Most recent payment: 2026-08-04
Paid in the last twelve months: $1.15

Payment date	Dividend per share
2026-08-04	$0.30
2026-05-05	$0.30
2026-02-09	$0.30
2025-11-04	$0.25
2025-08-05	$0.25
2025-05-06	$0.25
2025-02-10	$0.25
2024-11-05	$0.20

Investor relations

Next earnings report

Next confirmed report: 2026-10-28
Consensus EPS estimate: $0.77

Past earnings dates

Reported	Fiscal period	EPS estimate
2026-07-22	Jun/2026	$0.77
2026-04-22	Mar/2026	$0.75
2026-01-28	Dec/2025	$0.77
2025-10-22	Sep/2025	$0.62
2025-07-23	Jun/2025	$0.55
2025-04-23	Mar/2025	$0.60
2025-01-29	Dec/2024	$0.60
2024-10-23	Sep/2024	$0.55

Filings and sources

Company website: sands.com
SEC filings: 10-K, 10-Q and 8-K on EDGAR
Earnings calendar: All upcoming reports

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