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

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 (below 1: weak)
Debt/Equity 17.01 (above 2: weak)
P/E ratio 14.73
Fwd P/E 15.80
P/S ratio 1.81
P/B ratio 27.71 (above 6: high)
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

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.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
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

Las Vegas Sands Corp. vs peers in Resorts & Casinos (Q) = latest quarter vs a year earlier

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 →

LVS metrics, ten years each

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.

Source: company filings (standardised) and stockrow calculations.

Las Vegas Sands Corp. (LVS) Latest News

6 Oct

22 Jul

24 Apr

stockrow.com/LVS · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com