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 $25.7B against $5.7B — 4.5× the size. Las Vegas Sands Corp. trades at the lower P/E: 16.7× against 38.2×. Las Vegas Sands Corp. grew revenue faster over the last twelve months: 10.9% against −4.26%. Las Vegas Sands Corp. has the higher net margin (11.9% vs 5.20%) and the higher return on invested capital (14.3% vs 7.60%). Both pay a dividend; Vail Resorts, Inc. yields more (5.59% vs 2.93%). Across the 22 metrics below, Las Vegas Sands Corp. leads on 20 and Vail Resorts, Inc. on 2.

Valuation

Metric LVS MTN Resorts & Casinos median
P/E 16.70 38.25 16.84
P/S 1.92 2.00 0.57
P/B n/m 10.18 2.02
Price to free cash flow 10.86 22.64 10.86
EV/EBITDA 8.80 11.81 8.92
EV/Sales 2.85 3.02 1.79
Earnings yield 5.99% 2.61% 2.61%
Free cash flow yield 9.21% 4.42% 7.35%

Profitability

Metric LVS MTN Resorts & Casinos median
Gross margin 47.52% 41.33% 47.52%
Operating margin 20.93% 14.82% 12.21%
Net margin 11.85% 5.20% 3.87%
Free cash flow margin 17.69% 8.83% 5.15%
Return on equity 184.02% 22.50% 19.64%
Return on assets 7.88% 2.61% 1.70%
Return on invested capital 14.27% 7.60% 6.38%

Growth

Metric LVS MTN Resorts & Casinos median
Revenue growth (TTM) 10.93% (4.26%) 3.08%
EPS growth (last fiscal year) 19.90% (45.29%) 3.45%
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 (134.30) 5.72 0.06
Current ratio 0.83 0.80 0.91
Net debt to EBITDA 2.70 4.00 4.00

Dividend

Metric LVS MTN Resorts & Casinos median
Dividend yield 2.93% 5.59% 1.98%
Payout ratio 0.49 2.14 0.49

Size

Metric LVS MTN Resorts & Casinos median
Market cap 25.66b 5.66b 3.32b

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