Caesars Entertainment, Inc. (CZR) vs Las Vegas Sands Corp. (LVS)

Caesars Entertainment, Inc. and Las Vegas Sands Corp. are both Resorts & Casinos companies. Las Vegas Sands Corp. is the larger, with a market value of $25.2B against $6.0B — 4.2× the size. Caesars Entertainment, Inc. has negative trailing earnings, so its P/E is not meaningful; Las Vegas Sands Corp. trades at 15.1×. Las Vegas Sands Corp. grew revenue faster over the last twelve months: 18.1% against 2.41%. Las Vegas Sands Corp. has the higher net margin (12.6% vs −3.99%) and the higher return on invested capital (14.4% vs 7.36%). Across the 20 metrics below, Las Vegas Sands Corp. leads on 12 and Caesars Entertainment, Inc. on 8.

Valuation

Metric CZR LVS Resorts & Casinos median
P/E n/m 15.10 18.52
P/S 0.52 1.86 0.54
P/B 1.70 28.41 2.13
Price to free cash flow 7.31 9.39 13.62
EV/EBITDA 5.01 8.25 9.18
EV/Sales 1.57 2.72 1.80
Earnings yield (7.70%) 6.62% 1.69%
Free cash flow yield 13.68% 10.64% 6.51%

Profitability

Metric CZR LVS Resorts & Casinos median
Gross margin 53.21% 48.52% 50.85%
Operating margin 15.94% 21.49% 10.41%
Net margin (3.99%) 12.59% 1.28%
Free cash flow margin 7.25% 19.78% 4.23%
Return on equity (12.12%) 108.65% 5.28%
Return on assets (1.45%) 8.27% 0.57%
Return on invested capital 7.36% 14.41% 5.61%

Growth

Metric CZR LVS Resorts & Casinos median
Revenue growth (TTM) 2.41% 18.11% 2.76%
EPS growth (last fiscal year) (87.60%) 19.90% —
Revenue growth, 5-year CAGR 25.92% 34.66% 24.21%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CZR LVS Resorts & Casinos median
Debt to equity 3.74 17.01 1.94
Current ratio 0.85 1.00 0.91
Net debt to EBITDA 2.95 2.70 3.08

Dividend

Metric CZR LVS Resorts & Casinos median
Dividend yield — 1.27% 1.27%
Payout ratio 0.00 0.00 0.00

Size

Metric CZR LVS Resorts & Casinos median
Market cap 6.02b 25.24b 2.43b

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