Hilton Grand Vacations Inc. (HGV) vs Las Vegas Sands Corp. (LVS)

Hilton Grand Vacations 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 $2.8B — 8.9× the size. Las Vegas Sands Corp. trades at the lower P/E: 14.7× against 19.9×. Las Vegas Sands Corp. grew revenue faster over the last twelve months: 18.1% against 5.44%. Las Vegas Sands Corp. has the higher net margin (12.6% vs 2.86%) and the higher return on invested capital (14.4% vs 3.86%). Across the 21 metrics below, Las Vegas Sands Corp. leads on 12 and Hilton Grand Vacations Inc. on 9.

Valuation

Metric HGV LVS Resorts & Casinos median
P/E 19.91 14.73 17.15
P/S 0.53 1.81 0.53
P/B 2.23 27.71 2.09
Price to free cash flow 8.22 9.16 9.94
EV/EBITDA 11.41 8.11 8.87
EV/Sales 1.90 2.68 1.78
Earnings yield 5.02% 6.79% 1.35%
Free cash flow yield 12.17% 10.91% 7.20%

Profitability

Metric HGV LVS Resorts & Casinos median
Gross margin 37.04% 48.52% 50.85%
Operating margin 9.89% 21.49% 10.41%
Net margin 2.86% 12.59% 1.28%
Free cash flow margin 6.48% 19.78% 4.23%
Return on equity 10.42% 108.65% 5.28%
Return on assets 1.26% 8.27% 0.57%
Return on invested capital 3.86% 14.41% 5.61%

Growth

Metric HGV LVS Resorts & Casinos median
Revenue growth (TTM) 5.44% 18.11% 2.76%
EPS growth (last fiscal year) 97.78% 19.90% 8.54%
Revenue growth, 5-year CAGR 41.36% 34.66% 24.21%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric HGV LVS Resorts & Casinos median
Debt to equity 6.18 17.01 1.94
Current ratio 5.02 1.00 0.91
Net debt to EBITDA 8.30 2.70 3.48

Dividend

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

Size

Metric HGV LVS Resorts & Casinos median
Market cap 2.80b 24.82b 2.44b

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