Saturday 17 October 2026 Export LVS’s income statement to Excel — free account

Las Vegas Sands Corp.

Las Vegas Sands Corp.’s revenue for fiscal 2025 (year ended December 2025) was $13.0 billion, up 15.2% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS fell 19.7%, free cash flow grew 426.9% and total debt fell 3.53%, each against the same quarter a year earlier. Member of the S&P 500; dividend growth for three consecutive years, revenue growth for three.

38.01 0.31 −0.81%

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Market cap: $24.8B
P/E: 14.7×
Fwd P/E: 15.8×
Dividend yield: 3.03%
F-score: 8/9
Altman Z: 2.68
Beneish M: −2.06
Dividend safety: 59/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios Filings 10-Q 10-K

Insider Decisions trades per month

Total sells 242.75

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	3	9	—	—	1	1	—	—	—	—	—	—

Insider Ownership 58.89%

Capital & Financial Ratios $m

Market Cap 24,820.00

Revenue 13,719.00

Net Income 1,953.00

Free Cash Flow 2,713.00

Net Debt 11,886.00

Current Ratio 1.00

Debt/Equity 17.01

P/E ratio 14.73

Fwd P/E 15.80

P/S ratio 1.81

P/B ratio 27.71

Past 5Y EPS Growth —

This Y EPS Growth 2.17%

Next Y EPS Growth 13.37%

Next Y revenue growth 5.94%

Next 5Y EPS Growth 6.47%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 8.36%

10-year low 10-year high

P/S against its own 10 years 0.44%

10-year low 10-year high

P/B against its own 10 years 97.60%

10-year low 10-year high

EV/Sales against its own 10 years 0.44%

10-year low 10-year high

EV/FCF against its own 10 years 3.68%

10-year low 10-year high

Dividends

Payout Ratio 0.45

Annual Dividend Rate 1.15

Annual Dividend Yield 3.03%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	1.19	0.30 0.30 0.30
2025	1.00	0.25 0.25 0.25 0.25
2024	0.80	0.20 0.20 0.20 0.20
2023	0.40	0.20 0.20
2022	Powerpack
2021	Powerpack
2020	0.79	0.79
2019	3.08	0.77 0.77 0.77 0.77
2018	3.00	0.75 0.75 0.75 0.75
2017	2.92	0.73 0.73 0.73 0.73
2016	2.88	0.72 0.72 0.72 0.72

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	5,105	3,650	3,841	3,376
Receivables	484	417	742	622
Inventory	38	41	46	46
Other	—	—	—	—
	5,777	4,290	4,832	4,297

	2023	2024	2025	Q'26
Payables	167	164	190	150
ST’ Debt	1,900	3,160	1,128	1,568
Other	—	—	—	—
	4,422	5,801	4,222	4,311

Compound Annual Growth %

	10y	5y	3y
Sales	1.08%	34.66%	46.86%
Cash Flow	(1.34%)	0.00%	0.00%
Earnings	(1.87%)	0.00%	(3.88%)
Book Value	(13.68%)	(11.38%)	(19.12%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3,585	3,154	—	—	—
’25	2,862	3,175	3,331	3,649	13,017
’24	2,959	2,761	2,682	2,896	11,298
’23	2,120	2,542	2,795	2,915	10,372
’22	943	1,045	1,005	1,117	4,110
’21	1,196	1,173	857	1,008	4,234
’20	1,417	62	446	1,015	2,940

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	731	682	—	—	—
’25	526	178	1,115	1,204	3,023
’24	714	814	761	915	3,204
’23	441	941	839	1,006	3,227
’22	(500)	(190)	(150)	(104)	(944)
’21	(188)	83	(240)	102	(243)
’20	(388)	(568)	(283)	48	(1,191)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	537	353	—	—	—
’25	72	(108)	893	930	1,787
’24	514	526	220	365	1,625
’23	259	522	515	677	1,973
’22	(646)	(476)	(317)	(276)	(1,715)
’21	(476)	(71)	(436)	(92)	(1,075)
’20	(677)	(920)	(639)	(181)	(2,417)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.85	0.53	—	—	—
’25	0.49	0.66	0.61	0.58	2.35
’24	0.66	0.48	0.38	0.45	1.96
’23	0.19	0.41	0.50	0.50	1.62
’22	3.31	(0.38)	(0.31)	(0.22)	2.40
’21	(0.36)	(0.25)	(0.48)	(0.17)	(1.26)
’20	0.00	(1.07)	(0.74)	(0.39)	(2.21)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	34.88	51.35	47.39	50.89	33.30	33.75	28.88	43.77	36.62	30.18	Analyst estimates 2026–2028 Powerpack
	High	63.38	72.20	81.45	70.34	74.29	66.77	49.73	65.58	56.61	70.45
People
People	Employees	49,000	50,500	51,500	50,000	44,500	44,700	35,700	38,700	40,300	41,500
	Revenue/emp, $m	0.23	0.25	0.27	0.24	0.07	0.09	0.12	0.27	0.28	0.31
Income, $m
Income, $m	Revenue	11,271	12,728	13,729	12,127	2,940	4,234	4,110	10,372	11,298	13,017
	Gross margin, %	49.55	50.27	49.20	49.71	27.93	37.98	40.15	49.82	48.87	49.79
	EBT	2,264	3,054	3,326	3,600	(1,876)	(1,474)	(1,387)	1,775	1,960	2,213
	EBT margin, %	20.09	23.99	24.23	29.69	(63.81)	(34.81)	(33.75)	17.11	17.35	17.00
	Net income	2,025	3,263	2,951	3,168	(1,900)	(1,469)	(1,541)	1,431	1,752	1,866
	Depreciation	1,189	1,246	1,176	1,101	1,095	1,149	1,148	1,327	1,425	1,598
Per share, $
Per share, $	Revenue	14.18	16.07	17.47	15.73	3.85	5.54	5.38	13.59	15.37	18.84
	Earnings	2.10	3.54	3.07	3.50	(2.21)	(1.26)	2.40	1.62	1.97	2.35
	Cash flow	5.09	5.74	5.98	3.64	(1.56)	(0.32)	(1.24)	4.23	4.36	4.37
	Capex	(1.81)	(1.04)	(1.18)	(1.38)	(1.60)	(1.09)	(1.01)	(1.64)	(2.15)	(1.79)
	Free cash flow	3.28	4.70	4.80	2.25	(3.16)	(1.41)	(2.24)	2.59	2.21	2.59
	Book value	9.43	9.63	8.58	8.44	4.63	2.94	4.79	5.38	4.30	2.80
	Shares, m	795	792	786	771	764	764	764	763	735	691
Valuation, ×
Valuation, ×	P/E	25.40	19.52	17.01	19.73	0.00	0.00	20.55	32.08	26.07	27.70
	P/S	3.76	4.30	2.98	4.39	15.49	6.79	9.17	3.78	3.34	3.46
	P/B	5.66	7.18	6.07	8.18	12.87	12.79	10.31	9.54	11.95	23.26
	EV/Sales	4.42	4.87	3.51	5.07	19.54	9.84	11.52	4.64	4.24	4.37
	EV/FCF	19.15	16.86	12.95	35.39	(23.26)	(38.77)	(27.61)	24.37	29.45	31.85
Cash, $m
Cash, $m	Operating cash flow	4,044	4,543	4,701	2,803	(1,191)	(243)	(944)	3,227	3,204	3,023
	Capex	(1,440)	(822)	(930)	(1,066)	(1,226)	(832)	(771)	(1,254)	(1,579)	(1,236)
	Free cash flow	2,604	3,721	3,771	1,737	(2,417)	(1,075)	(1,715)	1,973	1,625	1,787
Balance, $m
Balance, $m	Working capital	292	241	2,409	2,081	2,891	2,945	2,842	1,355	(1,511)	610
	Total debt	9,595	9,640	11,985	12,492	14,004	14,795	15,978	14,029	13,752	15,784
	Net debt	7,457	7,210	7,324	8,250	11,906	12,925	9,667	8,924	10,102	11,943
	Shareholders’ equity	7,496	7,627	6,745	6,507	3,538	2,248	3,656	4,104	3,160	1,934
Returns, %
Returns, %	ROA	8.12	13.65	11.16	11.80	(7.66)	(4.70)	8.70	5.57	6.81	7.64
	ROIC	10.46	14.59	16.66	14.25	(5.64)	(2.84)	(3.72)	11.10	11.32	12.69
	ROE	21.10	37.14	33.58	40.72	(33.55)	(33.22)	62.06	31.47	39.81	63.88

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LVS Las Vegas Sands Corp.	$24.8B	14.7×	15.8×	−0.66% (below 0%: shrinking)	−19.70% (below 0%: shrinking)	+426.85% (above 0%: growing)	46.92%	19.59%
WYNN Wynn Resorts, Limited	$7.9B	17.3×	22.7×	+6.86% (above 0%: growing)	+114.06% (above 0%: growing)	+41.56% (above 0%: growing)	40.87%	16.03%	Compare
MGM MGM Resorts International	$7.4B	17.0×	22.8×	+1.05% (above 0%: growing)	+522.22% (above 0%: growing)	+118.40% (above 0%: growing)	44.47%	11.32%	Compare
CZR Caesars Entertainment, Inc.	$6.0B	— (loss-making)	— (loss-making)	+2.96% (above 0%: growing)	n/m	+29.79% (above 0%: growing)	53.26%	17.14%	Compare
MTN Vail Resorts, Inc.	$5.5B	39.1×	19.3×	+2.50% (above 0%: growing)	n/m	+29.42% (above 0%: growing)	(8.85%)	(75.09%)	Compare
RRR Red Rock Resorts, Inc.	$5.3B	17.0×	34.7×	−3.04% (below 0%: shrinking)	−29.17% (below 0%: shrinking)	−76.90% (below 0%: shrinking)	61.83%	26.65%	Compare
BYD Boyd Gaming Corporation	$5.2B	3.1×	13.2×	+0.04% (above 0%: growing)	−4.89% (below 0%: shrinking)	−235.57% (below 0%: shrinking)	50.29%	19.40%	Compare
VAC Marriott Vacations Worldwide Corporation	$3.9B	— (loss-making)	14.5×	+5.94% (above 0%: growing)	+11.62% (above 0%: growing)	+123.53% (above 0%: growing)	90.83%	12.20%	Compare
HGV Hilton Grand Vacations Inc.	$2.8B	19.9×	9.8×	+7.27% (above 0%: growing)	−42.31% (below 0%: shrinking)	+318.52% (above 0%: growing)	36.75%	6.70%	Compare
Median of peers	$5.4B	17.1×	19.3×	+2.73%	+3.37%	+35.68%	47.38%	14.12%

All 18 Resorts & Casinos stocks →

Las Vegas Sands Corp. (LVS) key facts

Strength: Las Vegas Sands Corp.’s revenue for fiscal 2025 (year ended December 2025) was $13.0 billion, up 15.2% from fiscal 2024.
Strength: Net income was $1.9 billion, or $2.35 per share (basic), a net margin of 12.5%.
Las Vegas Sands Corp. (LVS) is a Resorts & Casinos company in the Consumer Cyclical sector, listed on the New York Stock Exchange.
As of October 16, 2026, LVS traded at $38.01, a market capitalization of $24.8 billion.
At that price the stock trades at 14.7× trailing-twelve-month earnings and 1.8× sales; its P/E is higher than 8% of its own readings over the past ten years.
Las Vegas Sands Corp. pays an annual dividend of $1.15 per share, a yield of 3.03%, with a payout ratio of 44.8%.
Return on equity was 63.9% and debt-to-equity 17.01.
Its Piotroski F-score is 8 out of 9 and its Altman Z-score is 2.68 (grey zone) for fiscal 2025.