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 $25.2B against $2.7B — 9.2× the size. Las Vegas Sands Corp. trades at the lower P/E: 15.1× against 20.1×. 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 20.13 15.10 18.52
P/S 0.54 1.86 0.54
P/B 2.26 28.41 2.13
Price to free cash flow 8.31 9.39 13.62
EV/EBITDA 11.44 8.25 9.18
EV/Sales 1.90 2.72 1.80
Earnings yield 4.97% 6.62% 1.69%
Free cash flow yield 12.03% 10.64% 6.51%

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% —
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 3.08

Dividend

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

Size

Metric HGV LVS Resorts & Casinos median
Market cap 2.73b 25.24b 2.43b

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