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

Las Vegas Sands Corp.

LVS Consumer Cyclical Resorts & Casinos

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%
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

Las Vegas Sands Corp. (LVS) Gross margin

Alert me on Gross margin

Las Vegas Sands Corp.'s gross margin over the twelve months to 30 June 2026 was 48.5%, down 1.3 percentage points from fiscal 2025 (49.8%). Over the past ten years it has ranged from 27.9% (fiscal 2020) to 50.3% (fiscal 2017); the current reading is higher than 82% of that period. That is in line with the Resorts & Casinos industry median of 50.9% and above the Consumer Cyclical sector median of 35.0%.

Gross margin, annual

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Annual newest first

Period Gross margin Change (points)
FY2025 49.8% 0.92
FY2024 48.9% (0.95)
FY2023 49.8% 9.67
FY2022 40.2% 2.17
FY2021 38.0% 10.05
FY2020 27.9% (21.78)
FY2019 49.7% 0.51
FY2018 49.2% (1.07)
FY2017 50.3% 0.72
FY2016 49.6% 1.89

Quarterly newest first

Period Gross margin Change (points)
Jun 2026 46.9% (1.87)
Mar 2026 48.8% 0.34
Dec 2025 48.5% (1.35)
Sep 2025 49.8% (1.76)
42 more quarters

Against its own ten years

Low 27.9% High 50.3%
Ten-year median 49.2%
Current reading's percentile 43

Gross margin against peers

Company Gross margin
VAC Marriott Vacations Worldwide Corporation compare 90.7%
RRR Red Rock Resorts, Inc. compare 62.1%
CZR Caesars Entertainment, Inc. compare 53.2%
BYD Boyd Gaming Corporation compare 49.0%
LVS Las Vegas Sands Corp. 48.5%
MGM MGM Resorts International compare 44.2%
MTN Vail Resorts, Inc. compare 41.3%
WYNN Wynn Resorts, Limited compare 40.7%
HGV Hilton Grand Vacations Inc. compare 37.0%
Resorts & Casinos industry median 50.9%
Consumer Cyclical sector median 35.0%
Market median 46.2%

What Gross margin is

Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.

Gross Profit ÷ Revenue

The full definition of Gross margin →

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