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 $24.8B 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 14.7×. 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 14.73 17.15
P/S 0.51 1.81 0.53
P/B 1.66 27.71 2.09
Price to free cash flow 7.12 9.16 9.94
EV/EBITDA 4.97 8.11 8.87
EV/Sales 1.55 2.68 1.78
Earnings yield (7.91%) 6.79% 1.35%
Free cash flow yield 14.04% 10.91% 7.20%

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% 8.54%
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 3.48

Dividend

Metric CZR LVS Resorts & Casinos median
Dividend yield — 3.03% 1.94%
Payout ratio — 0.45 0.37

Size

Metric CZR LVS Resorts & Casinos median
Market cap 5.96b 24.82b 2.44b

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