Las Vegas Sands Corp. (LVS) vs MGM Resorts International (MGM)

Las Vegas Sands Corp. and MGM Resorts International are both Resorts & Casinos companies. Las Vegas Sands Corp. is the larger, with a market value of $25.2B against $8.5B — 3.0× the size. Las Vegas Sands Corp. trades at the lower P/E: 15.1× against 19.4×. Las Vegas Sands Corp. grew revenue faster over the last twelve months: 18.1% against 3.19%. Las Vegas Sands Corp. has the higher net margin (12.6% vs 2.36%) and the higher return on invested capital (14.4% vs 9.23%). Both pay a dividend; Las Vegas Sands Corp. yields more (1.27% vs 0.03%). Across the 22 metrics below, Las Vegas Sands Corp. leads on 13 and MGM Resorts International on 9.

Valuation

Metric LVS MGM Resorts & Casinos median
P/E 15.10 19.39 18.52
P/S 1.86 0.47 0.54
P/B 28.41 2.46 2.13
Price to free cash flow 9.39 4.11 13.62
EV/EBITDA 8.25 4.95 9.18
EV/Sales 2.72 0.70 1.80
Earnings yield 6.62% 5.16% 1.69%
Free cash flow yield 10.64% 24.34% 6.51%

Profitability

Metric LVS MGM Resorts & Casinos median
Gross margin 48.52% 44.16% 50.85%
Operating margin 21.49% 5.73% 10.41%
Net margin 12.59% 2.36% 1.28%
Free cash flow margin 19.78% 11.34% 4.23%
Return on equity 108.65% 11.82% 5.28%
Return on assets 8.27% 1.03% 0.57%
Return on invested capital 14.41% 9.23% 5.61%

Growth

Metric LVS MGM Resorts & Casinos median
Revenue growth (TTM) 18.11% 3.19% 2.76%
EPS growth (last fiscal year) 19.90% (68.33%) —
Revenue growth, 5-year CAGR 34.66% 27.71% 24.21%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LVS MGM Resorts & Casinos median
Debt to equity 17.01 1.80 1.94
Current ratio 1.00 1.34 0.91
Net debt to EBITDA 2.70 1.79 3.08

Dividend

Metric LVS MGM Resorts & Casinos median
Dividend yield 1.27% 0.03% 1.27%
Payout ratio 0.00 0.00 0.00

Size

Metric LVS MGM Resorts & Casinos median
Market cap 25.24b 8.51b 2.43b

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