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 $25.2B against $4.9B — 5.1× the size. Las Vegas Sands Corp. trades at the lower P/E: 15.1× against 30.9×. Las Vegas Sands Corp. grew revenue faster over the last twelve months: 18.1% against −4.29%. Las Vegas Sands Corp. has the higher net margin (12.6% vs 5.54%) and the higher return on invested capital (14.4% vs 7.57%). Both pay a dividend; Vail Resorts, Inc. yields more (3.81% vs 1.27%). Across the 23 metrics below, Las Vegas Sands Corp. leads on 16 and Vail Resorts, Inc. on 7.

Valuation

Metric LVS MTN Resorts & Casinos median
P/E 15.10 30.86 18.52
P/S 1.86 1.71 0.54
P/B 28.41 5.29 2.13
Price to free cash flow 9.39 25.84 13.62
EV/EBITDA 8.25 10.26 9.18
EV/Sales 2.72 2.64 1.80
Earnings yield 6.62% 3.24% 1.69%
Free cash flow yield 10.64% 3.87% 6.51%

Profitability

Metric LVS MTN Resorts & Casinos median
Gross margin 48.52% 41.63% 50.85%
Operating margin 21.49% 15.20% 10.41%
Net margin 12.59% 5.54% 1.28%
Free cash flow margin 19.78% 6.63% 4.23%
Return on equity 108.65% 14.70% 5.28%
Return on assets 8.27% 2.74% 0.57%
Return on invested capital 14.41% 7.57% 5.61%

Growth

Metric LVS MTN Resorts & Casinos median
Revenue growth (TTM) 18.11% (4.29%) 2.76%
EPS growth (last fiscal year) 19.90% 24.05% —
Revenue growth, 5-year CAGR 34.66% 8.59% 24.21%
Net income growth, 5-year CAGR 0.00% 23.16% 0.00%

Health

Metric LVS MTN Resorts & Casinos median
Debt to equity 17.01 3.30 1.94
Current ratio 1.00 0.91 0.91
Net debt to EBITDA 2.70 3.20 3.08

Dividend

Metric LVS MTN Resorts & Casinos median
Dividend yield 1.27% 3.81% 1.27%
Payout ratio 0.00 1.18 0.00

Size

Metric LVS MTN Resorts & Casinos median
Market cap 25.24b 4.91b 2.43b

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