Las Vegas Sands Corp. (LVS) vs Red Rock Resorts, Inc. (RRR)

Las Vegas Sands Corp. and Red Rock Resorts, Inc. are both Resorts & Casinos companies. Las Vegas Sands Corp. is the larger, with a market value of $25.2B against $5.4B — 4.7× the size. Las Vegas Sands Corp. trades at the lower P/E: 15.1× against 17.5×. Las Vegas Sands Corp. grew revenue faster over the last twelve months: 18.1% against 0.86%. Las Vegas Sands Corp. has the higher net margin (12.6% vs 8.43%) and the higher return on invested capital (14.4% vs 9.19%). Both pay a dividend; Red Rock Resorts, Inc. yields more (3.24% vs 1.27%). Across the 22 metrics below, Las Vegas Sands Corp. leads on 15 and Red Rock Resorts, Inc. on 7.

Valuation

Metric LVS RRR Resorts & Casinos median
P/E 15.10 17.50 18.52
P/S 1.86 1.47 0.54
P/B 28.41 10.07 2.13
Price to free cash flow 9.39 15.19 13.62
EV/EBITDA 8.25 8.33 9.18
EV/Sales 2.72 3.20 1.80
Earnings yield 6.62% 5.71% 1.69%
Free cash flow yield 10.64% 6.58% 6.51%

Profitability

Metric LVS RRR Resorts & Casinos median
Gross margin 48.52% 62.13% 50.85%
Operating margin 21.49% 27.67% 10.41%
Net margin 12.59% 8.43% 1.28%
Free cash flow margin 19.78% 9.65% 4.23%
Return on equity 108.65% 57.37% 5.28%
Return on assets 8.27% 4.02% 0.57%
Return on invested capital 14.41% 9.19% 5.61%

Growth

Metric LVS RRR Resorts & Casinos median
Revenue growth (TTM) 18.11% 0.86% 2.76%
EPS growth (last fiscal year) 19.90% 23.32% —
Revenue growth, 5-year CAGR 34.66% 11.21% 24.21%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric LVS RRR Resorts & Casinos median
Debt to equity 17.01 12.39 1.94
Current ratio 1.00 0.68 0.91
Net debt to EBITDA 2.70 4.13 3.08

Dividend

Metric LVS RRR Resorts & Casinos median
Dividend yield 1.27% 3.24% 1.27%
Payout ratio 0.00 0.27 0.00

Size

Metric LVS RRR Resorts & Casinos median
Market cap 25.24b 5.42b 2.43b

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