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 $25.7B against $6.0B — 4.3× the size. Caesars Entertainment, Inc. has negative trailing earnings, so its P/E is not meaningful; Las Vegas Sands Corp. trades at 16.7×. Las Vegas Sands Corp. grew revenue faster over the last twelve months: 10.9% against 3.08%. Las Vegas Sands Corp. has the higher net margin (11.9% vs −4.55%) and the higher return on invested capital (14.3% vs 4.13%). Across the 19 metrics below, Las Vegas Sands Corp. leads on 13 and Caesars Entertainment, Inc. on 6.

Valuation

Metric CZR LVS Resorts & Casinos median
P/E n/m 16.70 16.84
P/S 0.51 1.92 0.57
P/B 1.72 n/m 2.02
Price to free cash flow 10.17 10.86 10.86
EV/EBITDA 8.25 8.80 8.92
EV/Sales 2.54 2.85 1.79
Earnings yield (8.71%) 5.99% 2.61%
Free cash flow yield 9.83% 9.21% 7.35%

Profitability

Metric CZR LVS Resorts & Casinos median
Gross margin 53.01% 47.52% 47.52%
Operating margin 15.37% 20.93% 12.21%
Net margin (4.55%) 11.85% 3.87%
Free cash flow margin 5.15% 17.69% 5.15%
Return on equity (14.36%) 184.02% 19.64%
Return on assets (1.68%) 7.88% 1.70%
Return on invested capital 4.13% 14.27% 6.38%

Growth

Metric CZR LVS Resorts & Casinos median
Revenue growth (TTM) 3.08% 10.93% 3.08%
EPS growth (last fiscal year) (87.60%) 19.90% 3.45%
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 7.18 (134.30) 0.06
Current ratio 0.82 0.83 0.91
Net debt to EBITDA 2.95 2.70 4.00

Dividend

Metric CZR LVS Resorts & Casinos median
Dividend yield — 2.93% 1.98%
Payout ratio — 0.49 0.49

Size

Metric CZR LVS Resorts & Casinos median
Market cap 5.95b 25.66b 3.32b

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