Las Vegas Sands Corp. (LVS) vs Vail Resorts, Inc. (MTN)

Las Vegas Sands Corp. and Vail Resorts, Inc. are both Resorts & Casinos companies. Las Vegas Sands Corp. is the larger, with a market value of $24.8B against $5.5B — 4.6× the size. Las Vegas Sands Corp. trades at the lower P/E: 14.7× against 39.1×. Las Vegas Sands Corp. grew revenue faster over the last twelve months: 18.1% against −4.26%. Las Vegas Sands Corp. has the higher net margin (12.6% vs 5.20%) and the higher return on invested capital (14.4% vs 7.60%). Both pay a dividend; Vail Resorts, Inc. yields more (5.86% vs 3.03%). Across the 23 metrics below, Las Vegas Sands Corp. leads on 19 and Vail Resorts, Inc. on 4.

Valuation

Metric LVS MTN Resorts & Casinos median
P/E 14.73 39.10 17.15
P/S 1.81 1.91 0.53
P/B 27.71 9.71 2.09
Price to free cash flow 9.16 21.61 9.94
EV/EBITDA 8.11 11.45 8.87
EV/Sales 2.68 2.93 1.78
Earnings yield 6.79% 2.56% 1.35%
Free cash flow yield 10.91% 4.63% 7.20%

Profitability

Metric LVS MTN Resorts & Casinos median
Gross margin 48.52% 41.33% 50.85%
Operating margin 21.49% 14.82% 10.41%
Net margin 12.59% 5.20% 1.28%
Free cash flow margin 19.78% 8.83% 4.23%
Return on equity 108.65% 22.50% 5.28%
Return on assets 8.27% 2.61% 0.57%
Return on invested capital 14.41% 7.60% 5.61%

Growth

Metric LVS MTN Resorts & Casinos median
Revenue growth (TTM) 18.11% (4.26%) 2.76%
EPS growth (last fiscal year) 19.90% (36.54%) 8.54%
Revenue growth, 5-year CAGR 34.66% 8.25% 24.21%
Net income growth, 5-year CAGR 0.00% 2.91% 0.00%

Health

Metric LVS MTN Resorts & Casinos median
Debt to equity 17.01 5.72 1.94
Current ratio 1.00 0.80 0.91
Net debt to EBITDA 2.70 4.00 3.48

Dividend

Metric LVS MTN Resorts & Casinos median
Dividend yield 3.03% 5.86% 1.94%
Payout ratio 0.45 2.29 0.37

Size

Metric LVS MTN Resorts & Casinos median
Market cap 24.82b 5.45b 2.44b

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