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Las Vegas Sands (LVS) Financials

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$36.01 +0.12 (+0.33%)
Closing price 04/28/2025 03:59 PM Eastern
Extended Trading
$36.34 +0.33 (+0.92%)
As of 04:21 AM Eastern
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Annual Income Statements for Las Vegas Sands

Annual Income Statements for Las Vegas Sands

This table shows Las Vegas Sands' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders
1,966 1,679 2,808 2,413 2,698 -1,685 -961 1,832 1,221 1,446
Consolidated Net Income / (Loss)
2,386 2,025 3,263 2,951 3,304 -2,143 -1,276 1,357 1,431 1,752
Net Income / (Loss) Continuing Operations
2,386 2,025 3,263 2,951 3,168 -1,900 -1,469 -1,541 1,431 1,752
Total Pre-Tax Income
2,622 2,264 3,054 3,326 3,600 -1,876 -1,474 -1,387 1,775 1,960
Total Operating Income
2,841 2,502 3,464 3,751 3,365 -1,393 -689 -792 2,313 2,402
Total Gross Profit
5,692 5,412 6,303 6,750 6,006 735 1,605 1,635 5,163 5,502
Total Revenue
11,688 11,271 12,728 13,729 12,127 2,940 4,234 4,110 10,372 11,298
Operating Revenue
12,414 11,271 12,728 13,729 12,127 2,940 4,234 4,110 10,372 11,298
Total Cost of Revenue
5,996 5,859 6,425 6,979 6,121 2,205 2,629 2,475 5,209 5,796
Operating Cost of Revenue
5,840 5,686 6,329 6,974 6,099 2,119 2,626 2,475 5,209 5,796
Total Operating Expenses
2,851 2,910 2,839 2,999 2,641 2,128 2,294 2,427 2,850 3,100
Selling, General & Admin Expense
1,443 1,543 1,590 1,685 1,431 966 1,042 1,171 1,337 1,440
Research & Development Expense
10 9.00 13 12 24 18 109 143 205 228
Depreciation Expense
999 1,111 1,171 1,111 1,020 997 1,041 1,036 1,208 1,308
Amortization Expense
39 38 37 35 51 55 56 55 58 60
Impairment Charge
35 79 20 150 81 73 27 9.00 27 50
Other Special Charges / (Income)
48 130 8.00 6.00 34 19 19 13 15 14
Total Other Income / (Expense), net
-219 -238 -410 -425 235 -483 -785 -595 -538 -442
Interest Expense
265 279 332 510 451 523 758 702 818 727
Interest & Investment Income
15 10 16 59 74 21 4.00 116 288 275
Other Income / (Expense), net
31 31 -94 26 612 19 -31 -9.00 -8.00 10
Income Tax Expense
236 239 -209 375 432 24 -5.00 154 344 208
Net Income / (Loss) Discontinued Operations
- - - - 136 -243 193 2,898 0.00 0.00
Net Income / (Loss) Attributable to Noncontrolling Interest
420 346 455 538 606 -458 -315 -475 210 306
Basic Earnings per Share
$2.47 $2.11 $3.55 $3.07 $3.50 ($2.21) ($1.26) $2.40 $1.60 $1.97
Weighted Average Basic Shares Outstanding
797M 795M 792M 786M 771M 764M 764M 764M 763M 735M
Diluted Earnings per Share
$2.47 $2.11 $3.55 $3.07 $3.50 ($2.21) ($1.26) $2.40 $1.60 $1.96
Weighted Average Diluted Shares Outstanding
798M 795M 792M 786M 771M 764M 764M 764M 765M 737M
Weighted Average Basic & Diluted Shares Outstanding
796M 795.20M 788.88M 786M 763.68M 763.84M 763.99M 764.27M 753.62M 715.93M
Cash Dividends to Common per Share
$2.60 $2.88 $2.92 $3.00 $3.08 $0.79 - - $0.40 $0.80

Quarterly Income Statements for Las Vegas Sands

This table shows Las Vegas Sands' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Income / (Loss) Attributable to Common Shareholders
-239 -169 147 312 380 382 494 353 275 324
Consolidated Net Income / (Loss)
-381 -274 145 368 449 469 583 424 353 392
Net Income / (Loss) Continuing Operations
-380 -269 145 368 449 469 583 424 353 392
Total Pre-Tax Income
-320 -287 195 417 571 592 600 496 403 461
Total Operating Income
-177 -166 378 537 688 710 717 591 504 590
Total Gross Profit
420 451 1,032 1,244 1,406 1,481 1,487 1,338 1,274 1,403
Total Revenue
1,005 1,117 2,120 2,542 2,795 2,915 2,959 2,761 2,682 2,896
Operating Revenue
1,005 1,117 2,120 2,542 2,795 2,915 2,959 2,761 2,682 2,896
Total Cost of Revenue
585 666 1,088 1,298 1,389 1,434 1,472 1,423 1,408 1,493
Operating Cost of Revenue
577 680 1,094 1,298 1,389 1,428 1,461 1,423 1,408 1,504
Total Operating Expenses
597 617 654 707 718 771 770 747 770 813
Selling, General & Admin Expense
291 310 308 339 339 351 364 337 361 378
Research & Development Expense
26 35 42 54 44 65 53 61 55 59
Depreciation Expense
260 256 274 288 313 333 320 316 324 348
Amortization Expense
14 13 14 14 15 15 16 14 15 15
Impairment Charge
2.00 1.00 14 4.00 4.00 5.00 14 16 11 9.00
Other Special Charges / (Income)
4.00 2.00 2.00 8.00 3.00 2.00 3.00 3.00 4.00 4.00
Total Other Income / (Expense), net
-143 -121 -183 -120 -117 -118 -117 -95 -101 -129
Interest Expense
183 201 218 210 200 190 182 186 179 180
Interest & Investment Income
38 60 70 76 79 63 71 80 67 57
Other Income / (Expense), net
2.00 20 -35 14 4.00 9.00 -6.00 11 11 -6.00
Income Tax Expense
60 -18 50 49 122 123 17 72 50 69
Net Income / (Loss) Attributable to Noncontrolling Interest
-142 -105 -2.00 56 69 87 89 71 78 68
Basic Earnings per Share
($0.31) ($0.22) $0.19 $0.41 $0.50 $0.50 $0.66 $0.48 $0.38 $0.45
Weighted Average Basic Shares Outstanding
764M 764M 764M 764M 764M 763M 750M 740M 730M 735M
Diluted Earnings per Share
($0.31) ($0.22) $0.19 $0.41 $0.50 $0.50 $0.66 $0.48 $0.38 $0.44
Weighted Average Diluted Shares Outstanding
764M 764M 766M 767M 766M 765M 752M 741M 731M 737M
Weighted Average Basic & Diluted Shares Outstanding
764.17M 764.27M 764.27M 764.45M 764.49M 753.62M 745.05M 736.43M 725.03M 715.93M

Annual Cash Flow Statements for Las Vegas Sands

This table details how cash moves in and out of Las Vegas Sands' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Change in Cash & Equivalents
-1,285 -49 292 2,249 -419 -2,081 -212 4,511 -1,207 -1,454
Net Cash From Operating Activities
3,459 4,044 4,543 4,701 2,803 -1,191 -243 -944 3,227 3,204
Net Cash From Continuing Operating Activities
3,459 4,044 4,543 4,701 2,803 -1,191 -243 -944 3,227 3,204
Net Income / (Loss) Continuing Operations
2,386 2,025 3,263 2,951 3,168 -1,900 -1,469 -1,541 1,431 1,752
Depreciation Expense
999 1,111 1,171 1,111 1,020 997 1,041 1,036 1,208 1,308
Amortization Expense
79 78 75 65 81 98 108 112 119 117
Non-Cash Adjustments To Reconcile Net Income
216 267 208 222 -446 127 212 -714 36 4.00
Changes in Operating Assets and Liabilities, net
-222 563 -174 352 -1,020 -513 -135 163 433 23
Net Cash From Investing Activities
-1,528 -1,440 -822 -930 95 -1,226 -832 -721 -1,254 -1,579
Net Cash From Continuing Investing Activities
-1,528 -1,440 -822 -930 95 -1,226 -832 -721 -1,254 -1,579
Purchase of Property, Plant & Equipment
-1,529 -1,398 -837 -949 -1,018 -1,227 -828 -651 -1,017 -1,567
Acquisitions
0.00 -47 0.00 0.00 -53 0.00 -11 -129 -240 -13
Sale of Property, Plant & Equipment
2.00 5.00 15 19 5.00 1.00 7.00 9.00 3.00 1.00
Other Investing Activities, net
- - - - - 0.00 0.00 50 0.00 0.00
Net Cash From Financing Activities
-3,216 -2,631 -3,487 -1,522 -3,328 355 863 6,154 -3,188 -3,060
Net Cash From Continuing Financing Activities
-3,216 -2,631 -3,487 -1,522 -3,328 355 863 6,154 -3,188 -3,060
Repayment of Debt
-2,410 -2,020 -863 -5,178 -183 -498 -2,036 -77 -2,130 -2,166
Repurchase of Common Equity
-205 0.00 -375 -905 -754 - 0.00 0.00 -505 -1,750
Payment of Dividends
-2,707 -2,924 -2,943 -2,979 -3,000 -911 0.00 0.00 -305 -590
Issuance of Debt
2,089 2,296 654 7,593 4,000 1,945 2,702 1,200 0.00 1,748
Other Financing Activities, net
17 17 40 -53 -3,391 -181 197 5,031 -248 -302
Effect of Exchange Rate Changes
- -22 - - 14 - -16 22 8.00 -19
Other Net Changes in Cash
- - 58 - -3.00 -19 16 0.00 0.00 0.00
Cash Interest Paid
- - - - - - - 614 746 650
Cash Income Taxes Paid
- - - - - - - 649 176 222

Quarterly Cash Flow Statements for Las Vegas Sands

This table details how cash moves in and out of Las Vegas Sands' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Net Change in Cash & Equivalents
-343 311 220 -764 -194 -469 -149 -244 -503 -558
Net Cash From Operating Activities
-150 -104 441 941 839 1,006 714 814 761 915
Net Cash From Continuing Operating Activities
-150 -104 441 941 839 1,006 714 814 761 915
Net Income / (Loss) Continuing Operations
-380 -269 145 368 449 469 583 424 353 392
Depreciation Expense
260 256 274 288 313 333 320 316 324 348
Amortization Expense
29 27 29 30 30 30 31 29 29 28
Non-Cash Adjustments To Reconcile Net Income
9.00 -785 41 -2.00 -1.00 -2.00 16 -1.00 -17 6.00
Changes in Operating Assets and Liabilities, net
-68 667 -48 257 48 176 -236 46 72 141
Net Cash From Investing Activities
-167 -122 -182 -419 -324 -329 -200 -288 -541 -550
Net Cash From Continuing Investing Activities
-167 -122 -182 -419 -324 -329 -200 -288 -541 -550
Purchase of Property, Plant & Equipment
-169 -147 -166 -196 -330 -325 -196 -285 -539 -547
Acquisitions
-1.00 -25 -16 -223 3.00 -4.00 -4.00 -4.00 -2.00 -3.00
Net Cash From Financing Activities
-15 482 -36 -1,271 -703 -1,178 -639 -769 -773 -879
Net Cash From Continuing Financing Activities
-15 482 -36 -1,271 -703 -1,178 -639 -769 -773 -879
Repayment of Debt
-15 -18 -35 -1,274 -551 -270 -36 -1,967 -25 -138
Repurchase of Common Equity
- - 0.00 - - -505 -450 -400 -450 -450
Payment of Dividends
- - 0.00 - -153 -152 -151 -148 -146 -145
Other Financing Activities, net
- - -1.00 3.00 1.00 -251 -2.00 -2.00 -152 -146
Other Net Changes in Cash
- - - - - 24 - - 50 -25
Cash Interest Paid
250 86 296 95 279 76 260 94 209 87
Cash Income Taxes Paid
150 155 25 61 58 32 31 84 91 16

Annual Balance Sheets for Las Vegas Sands

This table presents Las Vegas Sands' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets
20,863 20,469 20,687 22,547 23,199 20,807 20,059 22,039 21,778 20,666
Total Current Assets
3,609 3,098 3,197 5,566 5,305 5,707 5,510 6,744 5,777 4,290
Cash & Equivalents
2,179 2,128 2,419 4,648 4,226 2,082 1,854 6,311 5,105 3,650
Accounts Receivable
1,268 776 615 726 844 252 202 267 484 417
Inventories, net
43 46 37 35 37 22 22 28 38 41
Prepaid Expenses
111 138 115 144 182 113 113 138 150 182
Plant, Property, & Equipment, net
16,994 17,113 16,753 15,154 17,116 14,536 14,016 13,579 13,688 13,995
Total Noncurrent Assets
260 258 737 1,827 778 564 533 1,716 2,313 2,381
Noncurrent Note & Lease Receivables
- - - 1,198 - - 0.00 1,165 1,194 1,264
Goodwill
- - - - - - - 64 598 545
Noncurrent Deferred & Refundable Income Taxes
24 0.00 493 368 282 318 297 131 121 122
Other Noncurrent Operating Assets
165 155 155 189 454 221 217 356 276 325
Other Noncurrent Nonoperating Assets
- - - - - - - - 124 125
Total Liabilities & Shareholders' Equity
20,863 20,469 20,687 22,547 23,199 20,807 20,059 22,039 21,778 20,666
Total Liabilities
12,445 12,973 13,060 15,802 16,692 17,269 17,811 18,383 17,674 17,506
Total Current Liabilities
2,464 2,806 2,956 3,157 3,224 2,816 2,565 3,902 4,422 5,801
Short-Term Debt
95 167 296 111 70 75 74 2,031 1,900 3,160
Accounts Payable
111 128 171 178 149 89 77 89 167 164
Current Deferred & Payable Income Tax Liabilities
198 192 261 244 275 87 32 135 261 229
Other Current Liabilities
364 384 152 189 334 1,810 1,561 1,647 2,094 2,248
Total Noncurrent Liabilities
9,981 10,167 10,104 12,645 13,468 14,453 15,246 14,481 13,252 11,705
Long-Term Debt
9,249 9,428 9,344 11,874 12,422 13,929 14,721 13,947 12,129 10,592
Noncurrent Deferred & Payable Income Tax Liabilities
202 200 206 191 183 188 173 152 187 188
Other Noncurrent Operating Liabilities
113 126 147 179 513 336 352 382 936 925
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
8,418 7,496 7,627 6,745 6,507 3,538 2,248 3,656 4,104 3,160
Total Preferred & Common Equity
6,817 6,177 6,486 5,684 5,187 2,973 1,996 3,881 4,118 2,884
Preferred Stock
- 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
6,817 6,177 6,486 5,684 5,187 2,973 1,996 3,881 4,118 2,884
Common Stock
6,486 6,517 6,581 6,681 6,570 6,612 6,647 6,685 6,482 6,246
Retained Earnings
2,840 2,222 2,709 2,770 3,101 813 -148 1,684 2,600 3,455
Treasury Stock
-2,443 -2,443 -2,818 -3,727 -4,481 -4,481 -4,481 -4,481 -4,991 -6,759
Accumulated Other Comprehensive Income / (Loss)
-66 -119 14 -40 -3.00 29 -22 -7.00 27 -58
Other Equity Adjustments
- - - - - - - - 0.00 0.00
Noncontrolling Interest
1,601 1,319 1,141 1,061 1,320 565 252 -225 -14 276

Quarterly Balance Sheets for Las Vegas Sands

This table presents Las Vegas Sands' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Total Assets
21,469 22,039 22,715 22,270 22,124 21,778 21,245 21,113 21,354 20,666
Total Current Assets
6,207 6,744 7,015 6,290 6,172 5,777 5,556 5,332 4,825 4,290
Cash & Equivalents
5,836 6,311 6,532 5,768 5,574 5,105 4,956 4,711 4,208 3,650
Accounts Receivable
210 267 328 336 390 484 420 436 413 417
Inventories, net
23 28 28 32 35 38 39 37 41 41
Prepaid Expenses
138 138 127 154 173 150 141 148 163 182
Plant, Property, & Equipment, net
13,318 13,579 13,464 13,666 13,642 13,688 13,386 13,465 14,168 13,995
Total Noncurrent Assets
1,944 1,716 2,236 2,314 2,310 2,313 2,303 2,316 2,361 2,381
Noncurrent Note & Lease Receivables
1,208 1,165 1,172 1,179 1,186 1,194 1,211 1,228 1,246 1,264
Goodwill
62 64 545 631 609 598 584 572 560 545
Noncurrent Deferred & Refundable Income Taxes
165 131 135 136 127 121 121 124 129 122
Other Noncurrent Operating Assets
509 356 384 368 388 276 387 392 426 325
Other Noncurrent Nonoperating Assets
- - - - - 124 - - - 125
Total Liabilities & Shareholders' Equity
21,469 22,039 22,715 22,270 22,124 21,778 21,245 21,113 21,354 20,666
Total Liabilities
17,688 18,383 18,886 18,111 17,672 17,674 17,220 17,219 17,707 17,506
Total Current Liabilities
3,391 3,902 3,919 2,275 4,102 4,422 4,267 3,369 5,350 5,801
Short-Term Debt
1,514 2,031 2,018 71 1,818 1,900 2,043 930 2,728 3,160
Accounts Payable
91 89 108 135 150 167 156 149 139 164
Current Deferred & Payable Income Tax Liabilities
323 135 171 171 213 261 256 244 223 229
Other Current Liabilities
1,463 1,647 1,622 1,898 1,921 2,094 1,812 2,046 2,260 2,248
Total Noncurrent Liabilities
14,297 14,481 14,967 15,836 13,570 13,252 12,953 13,850 12,357 11,705
Long-Term Debt
13,779 13,947 13,971 14,849 12,576 12,129 11,914 12,808 11,284 10,592
Noncurrent Deferred & Payable Income Tax Liabilities
150 152 146 145 150 187 175 173 185 188
Other Noncurrent Operating Liabilities
368 382 850 842 844 936 864 869 888 925
Commitments & Contingencies
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests
3,781 3,656 3,829 4,159 4,452 4,104 4,025 3,894 3,647 3,160
Total Preferred & Common Equity
3,900 3,881 4,056 4,330 4,553 4,118 3,953 3,754 3,426 2,884
Preferred Stock
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity
3,900 3,881 4,056 4,330 4,553 4,118 3,953 3,754 3,426 2,884
Common Stock
6,676 6,685 6,695 6,709 6,721 6,482 6,494 6,509 6,370 6,246
Retained Earnings
1,853 1,684 1,831 2,143 2,370 2,600 2,943 3,148 3,276 3,455
Treasury Stock
-4,481 -4,481 -4,481 -4,481 -4,481 -4,991 -5,446 -5,850 -6,304 -6,759
Accumulated Other Comprehensive Income / (Loss)
-148 -7.00 11 -41 -57 27 -38 -53 84 -58
Other Equity Adjustments
- - - - - 0.00 0.00 0.00 0.00 0.00
Noncontrolling Interest
-119 -225 -227 -171 -101 -14 72 140 221 276

Annual Metrics and Ratios for Las Vegas Sands

This table displays calculated financial ratios and metrics derived from Las Vegas Sands' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
-19.86% -3.57% 12.93% 7.86% -11.67% -75.76% 44.01% -2.93% 152.36% 8.93%
EBITDA Growth
-24.33% -5.77% 24.02% 7.30% 2.52% -105.49% 253.76% -19.11% 946.69% 5.64%
EBIT Growth
-29.97% -11.80% 33.04% 12.08% 5.30% -134.55% 47.60% -11.25% 387.77% 4.64%
NOPAT Growth
-32.62% -13.44% 65.38% -10.08% -11.02% -132.93% 50.54% -14.95% 436.35% 15.14%
Net Income Growth
-33.50% -15.13% 61.14% -9.56% 11.96% -164.86% 40.46% 206.35% 5.45% 22.43%
EPS Growth
-29.83% -14.57% 68.25% -13.52% 14.01% -163.14% 42.99% 290.48% -33.33% 22.50%
Operating Cash Flow Growth
-28.43% 16.91% 12.34% 3.48% -40.37% -142.49% 79.60% -288.48% 441.84% -0.71%
Free Cash Flow Firm Growth
-42.22% 23.54% 33.49% 7.30% -43.34% -50.31% -117.00% -504.38% 292.49% -16.19%
Invested Capital Growth
1.70% -3.91% -0.79% -5.08% 4.40% -14.10% -2.20% 4.98% -3.14% 1.81%
Revenue Q/Q Growth
-4.53% 0.67% 3.71% 0.62% -11.51% -23.08% -0.17% 2.72% 20.97% -0.17%
EBITDA Q/Q Growth
-7.76% 3.05% 4.79% -2.40% -6.17% -168.38% -0.92% -1.98% 35.17% -3.08%
EBIT Q/Q Growth
-10.19% 1.65% 8.78% -3.77% -4.81% -136.90% -3.00% 0.50% 60.07% -5.30%
NOPAT Q/Q Growth
-10.17% -0.27% 31.69% -31.15% 20.27% -106.98% -2.84% -3.66% 67.78% -2.67%
Net Income Q/Q Growth
-11.26% 2.05% 29.59% -32.19% 33.17% -117.78% 12.30% -5.37% 107.99% -4.21%
EPS Q/Q Growth
-11.47% 2.93% 32.96% -36.04% 41.13% -123.23% 15.44% -2.04% 81.82% -2.97%
Operating Cash Flow Q/Q Growth
-5.39% 5.05% 2.44% -0.42% -9.49% -413.36% 18.18% -27.91% 52.43% -2.76%
Free Cash Flow Firm Q/Q Growth
-17.87% 29.80% -0.58% -5.54% -19.30% 196.80% -108.34% -32.29% 111.96% -5.57%
Invested Capital Q/Q Growth
0.57% -3.59% 2.28% -6.01% 0.87% -17.34% -1.44% 0.64% -2.77% -2.33%
Profitability Metrics
- - - - - - - - - -
Gross Margin
48.70% 48.02% 49.52% 49.17% 49.53% 25.00% 37.91% 39.78% 49.78% 48.70%
EBITDA Margin
33.80% 33.02% 36.27% 36.08% 41.87% -9.49% 10.13% 8.44% 35.02% 33.96%
Operating Margin
24.31% 22.20% 27.22% 27.32% 27.75% -47.38% -16.27% -19.27% 22.30% 21.26%
EBIT Margin
24.57% 22.47% 26.48% 27.51% 32.79% -46.73% -17.01% -19.49% 22.22% 21.35%
Profit (Net Income) Margin
20.41% 17.97% 25.64% 21.49% 27.25% -72.89% -30.14% 33.02% 13.80% 15.51%
Tax Burden Percent
91.00% 89.44% 106.84% 88.73% 91.78% 114.23% 86.57% -97.84% 80.62% 89.39%
Interest Burden Percent
91.30% 89.38% 90.62% 88.06% 90.52% 136.54% 204.72% 173.16% 77.01% 81.26%
Effective Tax Rate
9.00% 10.56% -6.84% 11.27% 12.00% 0.00% 0.00% 0.00% 19.38% 10.61%
Return on Invested Capital (ROIC)
16.30% 14.27% 24.18% 22.40% 20.02% -6.94% -3.76% -4.26% 14.22% 16.49%
ROIC Less NNEP Spread (ROIC-NNEP)
13.51% 11.52% 18.52% 17.49% 24.22% -19.89% -11.74% 14.75% 9.52% 12.28%
Return on Net Nonoperating Assets (RNNOA)
11.06% 11.18% 18.97% 18.67% 29.84% -35.72% -40.35% 50.23% 22.66% 31.75%
Return on Equity (ROE)
27.36% 25.45% 43.15% 41.07% 49.86% -42.67% -44.11% 45.97% 36.88% 48.24%
Cash Return on Invested Capital (CROIC)
14.62% 18.27% 24.98% 27.61% 15.72% 8.22% -1.53% -9.12% 17.42% 14.70%
Operating Return on Assets (OROA)
13.29% 12.26% 16.38% 17.47% 17.39% -6.24% -3.52% -3.81% 10.52% 11.37%
Return on Assets (ROA)
11.04% 9.80% 15.86% 13.65% 14.45% -9.74% -6.24% 6.45% 6.53% 8.26%
Return on Common Equity (ROCE)
22.02% 20.78% 36.13% 34.77% 40.91% -34.66% -37.88% 45.76% 38.02% 46.50%
Return on Equity Simple (ROE_SIMPLE)
35.00% 32.78% 50.31% 51.92% 63.70% -72.08% -63.93% 34.97% 34.75% 60.75%
Net Operating Profit after Tax (NOPAT)
2,585 2,238 3,701 3,328 2,961 -975 -482 -554 1,865 2,147
NOPAT Margin
22.12% 19.86% 29.08% 24.24% 24.42% -33.17% -11.39% -13.49% 17.98% 19.00%
Net Nonoperating Expense Percent (NNEP)
2.79% 2.76% 5.66% 4.92% -4.20% 12.95% 7.98% -19.01% 4.70% 4.21%
Return On Investment Capital (ROIC_SIMPLE)
- - - - - - - -2.82% 10.28% 12.70%
Cost of Revenue to Revenue
51.30% 51.98% 50.48% 50.83% 50.47% 75.00% 62.09% 60.22% 50.22% 51.30%
SG&A Expenses to Revenue
12.35% 13.69% 12.49% 12.27% 11.80% 32.86% 24.61% 28.49% 12.89% 12.75%
R&D to Revenue
0.09% 0.08% 0.10% 0.09% 0.20% 0.61% 2.57% 3.48% 1.98% 2.02%
Operating Expenses to Revenue
24.39% 25.82% 22.31% 21.84% 21.78% 72.38% 54.18% 59.05% 27.48% 27.44%
Earnings before Interest and Taxes (EBIT)
2,872 2,533 3,370 3,777 3,977 -1,374 -720 -801 2,305 2,412
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
3,950 3,722 4,616 4,953 5,078 -279 429 347 3,632 3,837
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
4.04 5.73 7.39 6.55 9.81 14.99 14.11 9.23 8.98 12.91
Price to Tangible Book Value (P/TBV)
4.08 5.82 7.49 6.63 9.89 15.12 14.24 9.39 10.50 15.92
Price to Revenue (P/Rev)
2.36 3.14 3.76 2.71 4.20 15.16 6.65 8.72 3.56 3.30
Price to Earnings (P/E)
14.01 21.07 17.06 15.42 18.87 0.00 0.00 19.56 30.28 25.75
Dividend Yield
7.51% 6.47% 4.82% 6.32% 4.65% 5.31% 0.00% 0.00% 0.83% 1.56%
Earnings Yield
7.14% 4.75% 5.86% 6.48% 5.30% 0.00% 0.00% 5.11% 3.30% 3.88%
Enterprise Value to Invested Capital (EV/IC)
2.27 2.87 3.69 3.15 4.00 4.40 3.26 3.40 3.56 3.62
Enterprise Value to Revenue (EV/Rev)
3.11 3.92 4.42 3.32 4.99 19.40 9.76 11.01 4.42 4.21
Enterprise Value to EBITDA (EV/EBITDA)
9.19 11.86 12.19 9.21 11.91 0.00 96.35 130.46 12.63 12.41
Enterprise Value to EBIT (EV/EBIT)
12.64 17.43 16.69 12.07 15.21 0.00 0.00 0.00 19.90 19.74
Enterprise Value to NOPAT (EV/NOPAT)
14.04 19.73 15.20 13.70 20.42 0.00 0.00 0.00 24.60 22.18
Enterprise Value to Operating Cash Flow (EV/OCF)
10.49 10.92 12.38 9.70 21.57 0.00 0.00 0.00 14.22 14.86
Enterprise Value to Free Cash Flow (EV/FCFF)
15.66 15.42 14.71 11.12 26.02 49.39 0.00 0.00 20.09 24.88
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
1.11 1.28 1.26 1.78 1.92 3.96 6.58 4.37 3.42 4.35
Long-Term Debt to Equity
1.10 1.26 1.23 1.76 1.91 3.94 6.55 3.81 2.96 3.35
Financial Leverage
0.82 0.97 1.02 1.07 1.23 1.80 3.44 3.41 2.38 2.58
Leverage Ratio
2.48 2.60 2.72 3.01 3.45 4.38 7.06 7.13 5.65 5.84
Compound Leverage Factor
2.26 2.32 2.47 2.65 3.12 5.98 14.46 12.35 4.35 4.75
Debt to Total Capital
52.61% 56.14% 55.83% 63.99% 65.75% 79.83% 86.81% 81.38% 77.37% 81.32%
Short-Term Debt to Total Capital
0.53% 0.98% 1.71% 0.59% 0.37% 0.43% 0.43% 10.34% 10.48% 18.69%
Long-Term Debt to Total Capital
52.07% 55.16% 54.11% 63.40% 65.38% 79.40% 86.38% 71.03% 66.89% 62.63%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
9.01% 7.72% 6.61% 5.66% 6.95% 3.22% 1.48% -1.15% -0.08% 1.63%
Common Equity to Total Capital
38.38% 36.14% 37.56% 30.35% 27.30% 16.95% 11.71% 19.77% 22.71% 17.05%
Debt to EBITDA
2.37 2.58 2.09 2.42 2.46 -50.19 34.49 46.05 3.86 3.58
Net Debt to EBITDA
1.81 2.00 1.56 1.48 1.62 -42.67 30.13 27.86 2.46 2.63
Long-Term Debt to EBITDA
2.34 2.53 2.02 2.40 2.45 -49.92 34.31 40.19 3.34 2.76
Debt to NOPAT
3.61 4.29 2.60 3.60 4.22 -14.36 -30.68 -28.82 7.52 6.40
Net Debt to NOPAT
2.77 3.33 1.95 2.20 2.79 -12.21 -26.80 -17.44 4.79 4.71
Long-Term Debt to NOPAT
3.58 4.21 2.52 3.57 4.19 -14.28 -30.52 -25.16 6.50 4.93
Altman Z-Score
2.60 2.76 3.55 2.88 3.21 1.69 1.21 1.50 2.32 2.35
Noncontrolling Interest Sharing Ratio
19.54% 18.35% 16.27% 15.32% 17.97% 18.77% 14.12% 0.46% -3.08% 3.61%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.46 1.10 1.08 1.76 1.65 2.03 2.15 1.73 1.31 0.74
Quick Ratio
1.40 1.03 1.03 1.70 1.57 0.83 0.80 1.69 1.26 0.70
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
2,318 2,864 3,823 4,102 2,324 1,155 -196 -1,186 2,284 1,914
Operating Cash Flow to CapEx
226.52% 290.31% 552.68% 505.48% 276.70% -97.15% -29.60% -147.04% 318.24% 204.60%
Free Cash Flow to Firm to Interest Expense
8.75 10.26 11.52 8.04 5.15 2.21 -0.26 -1.69 2.79 2.63
Operating Cash Flow to Interest Expense
13.05 14.49 13.68 9.22 6.22 -2.28 -0.32 -1.34 3.95 4.41
Operating Cash Flow Less CapEx to Interest Expense
7.29 9.50 11.21 7.39 3.97 -4.62 -1.40 -2.26 2.71 2.25
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.54 0.55 0.62 0.64 0.53 0.13 0.21 0.20 0.47 0.53
Accounts Receivable Turnover
8.41 11.03 18.30 20.48 15.45 5.37 18.65 17.53 27.62 25.08
Inventory Turnover
141.63 131.66 154.82 193.86 170.03 74.75 119.50 99.00 157.85 146.73
Fixed Asset Turnover
0.69 0.66 0.75 0.86 0.75 0.19 0.30 0.30 0.76 0.82
Accounts Payable Turnover
53.60 49.03 42.98 39.99 37.44 18.53 31.67 29.82 40.70 35.02
Days Sales Outstanding (DSO)
43.39 33.10 19.94 17.83 23.63 68.03 19.57 20.83 13.21 14.55
Days Inventory Outstanding (DIO)
2.58 2.77 2.36 1.88 2.15 4.88 3.05 3.69 2.31 2.49
Days Payable Outstanding (DPO)
6.81 7.44 8.49 9.13 9.75 19.70 11.52 12.24 8.97 10.42
Cash Conversion Cycle (CCC)
39.16 28.42 13.81 10.58 16.02 53.22 11.10 12.27 6.56 6.62
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
15,992 15,366 15,244 14,470 15,107 12,977 12,691 13,323 12,904 13,137
Invested Capital Turnover
0.74 0.72 0.83 0.92 0.82 0.21 0.33 0.32 0.79 0.87
Increase / (Decrease) in Invested Capital
267 -626 -122 -774 637 -2,130 -286 632 -419 233
Enterprise Value (EV)
36,298 44,147 56,251 45,601 60,472 57,044 41,333 45,268 45,880 47,615
Market Capitalization
27,540 35,371 47,900 37,216 50,902 44,573 28,156 35,826 36,970 37,237
Book Value per Share
$8.57 $7.77 $8.21 $7.25 $6.75 $3.89 $2.61 $5.08 $5.39 $3.98
Tangible Book Value per Share
$8.48 $7.64 $8.09 $7.16 $6.70 $3.86 $2.59 $5.00 $4.60 $3.23
Total Capital
17,762 17,091 17,267 18,730 18,999 17,542 17,043 19,634 18,133 16,912
Total Debt
9,344 9,595 9,640 11,985 12,492 14,004 14,795 15,978 14,029 13,752
Total Long-Term Debt
9,249 9,428 9,344 11,874 12,422 13,929 14,721 13,947 12,129 10,592
Net Debt
7,157 7,457 7,210 7,324 8,250 11,906 12,925 9,667 8,924 10,102
Capital Expenditures (CapEx)
1,527 1,393 822 930 1,013 1,226 821 642 1,014 1,566
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-947 -1,679 -1,893 -2,141 -2,091 868 1,149 -1,438 -1,850 -2,001
Debt-free Net Working Capital (DFNWC)
1,240 459 537 2,520 2,151 2,966 3,019 4,873 3,255 1,649
Net Working Capital (NWC)
1,145 292 241 2,409 2,081 2,891 2,945 2,842 1,355 -1,511
Net Nonoperating Expense (NNE)
199 213 438 377 -343 1,168 794 -1,911 434 395
Net Nonoperating Obligations (NNO)
7,574 7,870 7,617 7,725 8,600 9,439 10,443 9,667 8,800 9,977
Total Depreciation and Amortization (D&A)
1,078 1,189 1,246 1,176 1,101 1,095 1,149 1,148 1,327 1,425
Debt-free, Cash-free Net Working Capital to Revenue
-8.10% -14.90% -14.87% -15.59% -17.24% 29.52% 27.14% -34.99% -17.84% -17.71%
Debt-free Net Working Capital to Revenue
10.61% 4.07% 4.22% 18.36% 17.74% 100.88% 71.30% 118.56% 31.38% 14.60%
Net Working Capital to Revenue
9.80% 2.59% 1.89% 17.55% 17.16% 98.33% 69.56% 69.15% 13.06% -13.37%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
$2.47 $2.10 $3.54 $3.07 $3.50 ($2.21) ($1.26) $2.40 $1.60 $1.97
Adjusted Weighted Average Basic Shares Outstanding
796.79M 795M 792M 786M 771M 764M 764M 764M 763M 735M
Adjusted Diluted Earnings per Share
$2.47 $2.10 $3.54 $3.07 $3.50 ($2.21) ($1.26) $2.40 $1.60 $1.96
Adjusted Weighted Average Diluted Shares Outstanding
797.60M 795M 792M 786M 771M 764M 764M 764M 765M 737M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
794.69M 793.99M 788.88M 775.05M 763.68M 763.84M 763.99M 764.27M 753.62M 715.93M
Normalized Net Operating Profit after Tax (NOPAT)
2,661 2,425 2,444 3,466 3,062 -911 -450 -539 1,899 2,204
Normalized NOPAT Margin
22.77% 21.51% 19.20% 25.25% 25.25% -30.98% -10.63% -13.11% 18.31% 19.51%
Pre Tax Income Margin
22.43% 20.09% 23.99% 24.23% 29.69% -63.81% -34.81% -33.75% 17.11% 17.35%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
10.84 9.08 10.15 7.41 8.82 -2.63 -0.95 -1.14 2.82 3.32
NOPAT to Interest Expense
9.76 8.02 11.15 6.53 6.57 -1.86 -0.64 -0.79 2.28 2.95
EBIT Less CapEx to Interest Expense
5.08 4.09 7.67 5.58 6.57 -4.97 -2.03 -2.06 1.58 1.16
NOPAT Less CapEx to Interest Expense
3.99 3.03 8.67 4.70 4.32 -4.21 -1.72 -1.70 1.04 0.80
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
113.45% 144.40% 90.19% 100.95% 90.80% -42.51% 0.00% 0.00% 21.31% 33.68%
Augmented Payout Ratio
122.05% 144.40% 101.69% 131.62% 113.62% -42.51% 0.00% 0.00% 56.60% 133.56%

Quarterly Metrics and Ratios for Las Vegas Sands

This table displays calculated financial ratios and metrics derived from Las Vegas Sands' official financial filings.

Metric Q3 2022 Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024
Growth Metrics
- - - - - - - - - -
Revenue Growth
17.27% 10.81% 124.81% 143.25% 178.11% 160.97% 39.58% 8.62% -4.04% -0.65%
EBITDA Growth
392.31% -4.86% 2,118.75% 578.91% 807.89% 689.78% 64.40% 8.98% -16.14% -11.28%
EBIT Growth
46.65% 2.67% 205.86% 453.21% 495.43% 592.47% 107.29% 9.26% -25.58% -18.78%
NOPAT Growth
43.99% -20.29% 232.96% 560.54% 536.64% 584.06% 147.86% 6.61% -18.40% -10.81%
Net Income Growth
23.03% -39.09% -94.03% 188.25% 217.85% 271.17% 302.07% 15.22% -21.38% -16.42%
EPS Growth
35.42% -29.41% -94.26% 207.89% 261.29% 327.27% 247.37% 17.07% -24.00% -12.00%
Operating Cash Flow Growth
37.50% -201.96% 188.20% 595.26% 659.33% 1,067.31% 61.90% -13.50% -9.30% -9.05%
Free Cash Flow Firm Growth
-118.68% -495.04% 165.85% 197.97% 204.34% 231.18% 371.09% 209.87% -48.23% -72.62%
Invested Capital Growth
2.81% 4.98% 0.59% 1.41% 0.26% -3.14% -1.96% -2.93% 1.35% 1.81%
Revenue Q/Q Growth
-3.83% 11.14% 89.79% 19.91% 9.95% 4.29% 1.51% -6.69% -2.86% 7.98%
EBITDA Q/Q Growth
-10.94% 20.18% 371.53% 34.52% 19.10% 4.54% -1.85% -10.83% -8.34% 10.60%
EBIT Q/Q Growth
-12.18% 16.57% 334.93% 60.64% 25.59% 3.90% -1.11% -15.33% -14.45% 13.40%
NOPAT Q/Q Growth
-20.41% 6.21% 341.89% 68.60% 14.16% 3.97% 23.86% -27.48% -12.62% 13.64%
Net Income Q/Q Growth
8.63% 28.08% 152.92% 153.79% 22.01% 4.45% 24.31% -27.27% -16.75% 11.05%
EPS Q/Q Growth
18.42% 29.03% 186.36% 115.79% 21.95% 0.00% 32.00% -27.27% -20.83% 15.79%
Operating Cash Flow Q/Q Growth
21.05% 30.67% 524.04% 113.38% -10.84% 19.90% -29.03% 14.01% -6.51% 20.24%
Free Cash Flow Firm Q/Q Growth
-64.77% -53.98% 127.14% 42.26% 75.49% 93.59% 11.57% -6.43% -70.68% 2.37%
Invested Capital Q/Q Growth
0.85% 0.64% -0.28% 0.19% -0.29% -2.77% -0.02% -0.81% 4.10% -2.33%
Profitability Metrics
- - - - - - - - - -
Gross Margin
41.79% 40.38% 48.68% 48.94% 50.30% 50.81% 50.25% 48.46% 47.50% 48.45%
EBITDA Margin
11.34% 12.27% 30.47% 34.19% 37.03% 37.12% 35.89% 34.30% 32.36% 33.15%
Operating Margin
-17.61% -14.86% 17.83% 21.13% 24.62% 24.36% 24.23% 21.41% 18.79% 20.37%
EBIT Margin
-17.41% -13.07% 16.18% 21.68% 24.76% 24.67% 24.03% 21.80% 19.20% 20.17%
Profit (Net Income) Margin
-37.91% -24.53% 6.84% 14.48% 16.06% 16.09% 19.70% 15.36% 13.16% 13.54%
Tax Burden Percent
119.06% 95.47% 74.36% 88.25% 78.63% 79.22% 97.17% 85.48% 87.59% 85.03%
Interest Burden Percent
182.86% 196.58% 56.85% 75.68% 82.51% 82.34% 84.39% 82.39% 78.25% 78.94%
Effective Tax Rate
0.00% 0.00% 25.64% 11.75% 21.37% 20.78% 2.83% 14.52% 12.41% 14.97%
Return on Invested Capital (ROIC)
-3.78% -3.29% 5.29% 9.57% 12.52% 15.26% 20.06% 15.95% 13.94% 15.03%
ROIC Less NNEP Spread (ROIC-NNEP)
-6.36% -4.86% 3.78% 8.40% 11.51% 14.25% 18.83% 15.05% 12.99% 13.86%
Return on Net Nonoperating Assets (RNNOA)
-20.39% -16.54% 7.99% 18.11% 25.56% 33.91% 44.26% 33.98% 29.88% 35.84%
Return on Equity (ROE)
-24.17% -19.83% 13.28% 27.68% 38.08% 49.17% 64.32% 49.93% 43.82% 50.87%
Cash Return on Invested Capital (CROIC)
-6.87% -9.12% -1.18% -119.10% 8.13% 17.42% 19.26% 20.55% 15.17% 14.70%
Operating Return on Assets (OROA)
-3.37% -2.55% 3.81% 6.63% 9.74% 11.68% 12.26% 11.49% 10.00% 10.74%
Return on Assets (ROA)
-7.33% -4.79% 1.61% 4.43% 6.32% 7.62% 10.05% 8.09% 6.85% 7.21%
Return on Common Equity (ROCE)
-23.36% -19.74% 13.41% 28.16% 39.10% 50.69% 65.59% 50.12% 43.17% 49.03%
Return on Equity Simple (ROE_SIMPLE)
36.77% 0.00% -22.86% -3.28% 15.11% 0.00% 47.28% 51.28% 53.39% 0.00%
Net Operating Profit after Tax (NOPAT)
-124 -116 281 474 541 562 697 505 441 502
NOPAT Margin
-12.33% -10.40% 13.26% 18.64% 19.36% 19.30% 23.54% 18.30% 16.46% 17.32%
Net Nonoperating Expense Percent (NNEP)
2.58% 1.57% 1.51% 1.17% 1.01% 1.01% 1.23% 0.89% 0.95% 1.17%
Return On Investment Capital (ROIC_SIMPLE)
- -0.59% - - - 3.10% - - - 2.97%
Cost of Revenue to Revenue
58.21% 59.62% 51.32% 51.06% 49.70% 49.19% 49.75% 51.54% 52.50% 51.55%
SG&A Expenses to Revenue
28.96% 27.75% 14.53% 13.34% 12.13% 12.04% 12.30% 12.21% 13.46% 13.05%
R&D to Revenue
2.59% 3.13% 1.98% 2.12% 1.57% 2.23% 1.79% 2.21% 2.05% 2.04%
Operating Expenses to Revenue
59.40% 55.24% 30.85% 27.81% 25.69% 26.45% 26.02% 27.06% 28.71% 28.07%
Earnings before Interest and Taxes (EBIT)
-175 -146 343 551 692 719 711 602 515 584
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)
114 137 646 869 1,035 1,082 1,062 947 868 960
Valuation Ratios
- - - - - - - - - -
Price to Book Value (P/BV)
7.20 9.23 10.60 10.02 7.56 8.98 9.90 8.74 10.82 12.91
Price to Tangible Book Value (P/TBV)
7.31 9.39 12.24 11.73 8.73 10.50 11.62 10.31 12.94 15.92
Price to Revenue (P/Rev)
7.02 8.72 8.13 6.40 4.02 3.56 3.49 2.87 3.28 3.30
Price to Earnings (P/E)
14.95 19.56 0.00 851.02 51.39 30.28 24.97 20.38 24.65 25.75
Dividend Yield
0.00% 0.00% 0.00% 0.00% 0.44% 0.83% 1.17% 1.82% 1.59% 1.56%
Earnings Yield
6.69% 5.11% 0.00% 0.12% 1.95% 3.30% 4.01% 4.91% 4.06% 3.88%
Enterprise Value to Invested Capital (EV/IC)
2.83 3.40 3.93 3.94 3.25 3.56 3.70 3.25 3.50 3.62
Enterprise Value to Revenue (EV/Rev)
9.35 11.01 9.88 7.72 5.03 4.42 4.30 3.67 4.16 4.21
Enterprise Value to EBITDA (EV/EBITDA)
105.68 130.46 50.95 29.66 16.06 12.63 11.91 10.17 11.90 12.41
Enterprise Value to EBIT (EV/EBIT)
0.00 0.00 0.00 91.42 29.96 19.90 18.04 15.40 18.49 19.74
Enterprise Value to NOPAT (EV/NOPAT)
0.00 0.00 0.00 0.00 38.82 24.60 21.21 18.20 21.35 22.18
Enterprise Value to Operating Cash Flow (EV/OCF)
0.00 0.00 0.00 46.44 20.38 14.22 13.78 12.44 14.29 14.86
Enterprise Value to Free Cash Flow (EV/FCFF)
0.00 0.00 0.00 0.00 40.05 20.09 19.03 15.56 23.23 24.88
Leverage & Solvency
- - - - - - - - - -
Debt to Equity
4.04 4.37 4.18 3.59 3.23 3.42 3.47 3.53 3.84 4.35
Long-Term Debt to Equity
3.64 3.81 3.65 3.57 2.82 2.96 2.96 3.29 3.09 3.35
Financial Leverage
3.21 3.41 2.11 2.16 2.22 2.38 2.35 2.26 2.30 2.58
Leverage Ratio
6.66 7.13 5.29 5.29 5.29 5.65 5.60 5.39 5.37 5.84
Compound Leverage Factor
12.18 14.02 3.01 4.01 4.37 4.65 4.72 4.44 4.20 4.61
Debt to Total Capital
80.18% 81.38% 80.68% 78.20% 76.38% 77.37% 77.62% 77.92% 79.35% 81.32%
Short-Term Debt to Total Capital
7.94% 10.34% 10.18% 0.37% 9.65% 10.48% 11.36% 5.27% 15.45% 18.69%
Long-Term Debt to Total Capital
72.24% 71.03% 70.50% 77.83% 66.73% 66.89% 66.26% 72.64% 63.90% 62.63%
Preferred Equity to Total Capital
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital
-0.62% -1.15% -1.15% -0.90% -0.54% -0.08% 0.40% 0.79% 1.25% 1.63%
Common Equity to Total Capital
20.45% 19.77% 20.47% 22.70% 24.16% 22.71% 21.98% 21.29% 19.40% 17.05%
Debt to EBITDA
43.20 46.05 15.60 8.45 5.36 3.86 3.45 3.33 3.54 3.58
Net Debt to EBITDA
26.71 27.86 9.23 5.18 3.28 2.46 2.22 2.19 2.48 2.63
Long-Term Debt to EBITDA
38.92 40.19 13.63 8.41 4.68 3.34 2.94 3.10 2.85 2.76
Debt to NOPAT
-28.60 -28.82 -203.94 -0.96 12.95 7.52 6.14 5.96 6.35 6.40
Net Debt to NOPAT
-17.68 -17.44 -120.63 -0.59 7.94 4.79 3.96 3.91 4.44 4.71
Long-Term Debt to NOPAT
-25.76 -25.16 -178.20 -0.95 11.32 6.50 5.24 5.55 5.12 4.93
Altman Z-Score
1.39 1.60 1.92 2.18 1.92 2.08 2.27 2.10 2.05 2.06
Noncontrolling Interest Sharing Ratio
3.35% 0.46% -0.93% -1.76% -2.67% -3.08% -1.97% -0.38% 1.48% 3.61%
Liquidity Ratios
- - - - - - - - - -
Current Ratio
1.83 1.73 1.79 2.76 1.50 1.31 1.30 1.58 0.90 0.74
Quick Ratio
1.78 1.69 1.75 2.68 1.45 1.26 1.26 1.53 0.86 0.70
Cash Flow Metrics
- - - - - - - - - -
Free Cash Flow to Firm (FCFF)
-486 -748 203 289 507 981 957 895 262 269
Operating Cash Flow to CapEx
-90.36% -70.75% 265.66% 480.10% 256.57% 309.54% 364.29% 285.61% 141.19% 167.28%
Free Cash Flow to Firm to Interest Expense
-2.66 -3.72 0.93 1.38 2.54 5.17 5.26 4.81 1.47 1.49
Operating Cash Flow to Interest Expense
-0.82 -0.52 2.02 4.48 4.20 5.29 3.92 4.38 4.25 5.08
Operating Cash Flow Less CapEx to Interest Expense
-1.73 -1.25 1.26 3.55 2.56 3.58 2.85 2.84 1.24 2.04
Efficiency Ratios
- - - - - - - - - -
Asset Turnover
0.19 0.20 0.24 0.31 0.39 0.47 0.51 0.53 0.52 0.53
Accounts Receivable Turnover
21.23 17.53 22.26 27.47 28.58 27.62 29.98 29.61 28.19 25.08
Inventory Turnover
106.93 99.00 115.41 129.89 153.14 157.85 166.96 165.74 150.97 146.73
Fixed Asset Turnover
0.29 0.30 0.39 0.50 0.64 0.76 0.84 0.84 0.81 0.82
Accounts Payable Turnover
29.16 29.82 33.25 34.47 36.85 40.70 42.37 40.27 39.70 35.02
Days Sales Outstanding (DSO)
17.20 20.83 16.40 13.29 12.77 13.21 12.18 12.33 12.95 14.55
Days Inventory Outstanding (DIO)
3.41 3.69 3.16 2.81 2.38 2.31 2.19 2.20 2.42 2.49
Days Payable Outstanding (DPO)
12.52 12.24 10.98 10.59 9.90 8.97 8.61 9.06 9.19 10.42
Cash Conversion Cycle (CCC)
8.09 12.27 8.58 5.51 5.25 6.56 5.75 5.46 6.17 6.62
Capital & Investment Metrics
- - - - - - - - - -
Invested Capital
13,238 13,323 13,286 13,311 13,272 12,904 13,026 12,921 13,451 13,137
Invested Capital Turnover
0.31 0.32 0.40 0.51 0.65 0.79 0.85 0.87 0.85 0.87
Increase / (Decrease) in Invested Capital
362 632 78 185 34 -419 -260 -390 179 233
Enterprise Value (EV)
37,410 45,268 52,221 52,383 43,148 45,880 48,221 41,961 47,097 47,615
Market Capitalization
28,072 35,826 42,991 43,402 34,429 36,970 39,148 32,794 37,072 37,237
Book Value per Share
$5.10 $5.08 $5.31 $5.67 $5.96 $5.39 $5.27 $5.04 $4.65 $3.98
Tangible Book Value per Share
$5.02 $5.00 $4.59 $4.84 $5.16 $4.60 $4.49 $4.27 $3.89 $3.23
Total Capital
19,074 19,634 19,818 19,079 18,846 18,133 17,982 17,632 17,659 16,912
Total Debt
15,293 15,978 15,989 14,920 14,394 14,029 13,957 13,738 14,012 13,752
Total Long-Term Debt
13,779 13,947 13,971 14,849 12,576 12,129 11,914 12,808 11,284 10,592
Net Debt
9,457 9,667 9,457 9,152 8,820 8,924 9,001 9,027 9,804 10,102
Capital Expenditures (CapEx)
166 147 166 196 327 325 196 285 539 547
Debt-free, Cash-free Net Working Capital (DFCFNWC)
-1,506 -1,438 -1,418 -1,682 -1,686 -1,850 -1,624 -1,818 -2,005 -2,001
Debt-free Net Working Capital (DFNWC)
4,330 4,873 5,114 4,086 3,888 3,255 3,332 2,893 2,203 1,649
Net Working Capital (NWC)
2,816 2,842 3,096 4,015 2,070 1,355 1,289 1,963 -525 -1,511
Net Nonoperating Expense (NNE)
257 158 136 106 92 93 114 81 88 110
Net Nonoperating Obligations (NNO)
9,457 9,667 9,457 9,152 8,820 8,800 9,001 9,027 9,804 9,977
Total Depreciation and Amortization (D&A)
289 283 303 318 343 363 351 345 353 376
Debt-free, Cash-free Net Working Capital to Revenue
-37.64% -34.99% -26.82% -24.79% -19.66% -17.84% -14.49% -15.91% -17.72% -17.71%
Debt-free Net Working Capital to Revenue
108.22% 118.56% 96.73% 60.23% 45.35% 31.38% 29.72% 25.31% 19.47% 14.60%
Net Working Capital to Revenue
70.38% 69.15% 58.56% 59.18% 24.14% 13.06% 11.50% 17.17% -4.64% -13.37%
Earnings Adjustments
- - - - - - - - - -
Adjusted Basic Earnings per Share
($0.31) ($0.22) $0.19 $0.41 $0.50 $0.50 $0.66 $0.48 $0.38 $0.45
Adjusted Weighted Average Basic Shares Outstanding
764M 764M 764M 764M 764M 763M 750M 740M 730M 735M
Adjusted Diluted Earnings per Share
($0.31) ($0.22) $0.19 $0.41 $0.50 $0.50 $0.66 $0.48 $0.38 $0.44
Adjusted Weighted Average Diluted Shares Outstanding
764M 764M 766M 767M 766M 765M 752M 741M 731M 737M
Adjusted Basic & Diluted Earnings per Share
$0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding
764.17M 764.27M 764.27M 764.45M 764.49M 753.62M 745.05M 736.43M 725.03M 715.93M
Normalized Net Operating Profit after Tax (NOPAT)
-120 -114 293 484 547 568 713 521 455 513
Normalized NOPAT Margin
-11.91% -10.21% 13.82% 19.06% 19.55% 19.49% 24.10% 18.89% 16.95% 17.71%
Pre Tax Income Margin
-31.84% -25.69% 9.20% 16.40% 20.43% 20.31% 20.28% 17.96% 15.03% 15.92%
Debt Service Ratios
- - - - - - - - - -
EBIT to Interest Expense
-0.96 -0.73 1.57 2.62 3.46 3.78 3.91 3.24 2.88 3.24
NOPAT to Interest Expense
-0.68 -0.58 1.29 2.26 2.71 2.96 3.83 2.72 2.47 2.79
EBIT Less CapEx to Interest Expense
-1.86 -1.46 0.81 1.69 1.83 2.07 2.83 1.70 -0.13 0.21
NOPAT Less CapEx to Interest Expense
-1.58 -1.31 0.53 1.32 1.07 1.25 2.75 1.18 -0.54 -0.25
Payout Ratios
- - - - - - - - - -
Dividend Payout Ratio
0.00% 0.00% 0.00% 0.00% 22.24% 21.31% 24.40% 31.38% 32.64% 33.68%
Augmented Payout Ratio
0.00% 0.00% 0.00% 0.00% 22.24% 56.60% 75.49% 101.77% 131.33% 133.56%

Frequently Asked Questions About Las Vegas Sands' Financials

When does Las Vegas Sands's financial year end?

According to the most recent income statement we have on file, Las Vegas Sands' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Las Vegas Sands' net income changed over the last 9 years?

Las Vegas Sands' net income appears to be on a downward trend, with a most recent value of $1.75 billion in 2024, falling from $2.39 billion in 2015. The previous period was $1.43 billion in 2023.

What is Las Vegas Sands's operating income?
Las Vegas Sands's total operating income in 2024 was $2.40 billion, based on the following breakdown:
  • Total Gross Profit: $5.50 billion
  • Total Operating Expenses: $3.10 billion
How has Las Vegas Sands revenue changed over the last 9 years?

Over the last 9 years, Las Vegas Sands' total revenue changed from $11.69 billion in 2015 to $11.30 billion in 2024, a change of -3.3%.

How much debt does Las Vegas Sands have?

Las Vegas Sands' total liabilities were at $17.51 billion at the end of 2024, a 1.0% decrease from 2023, and a 40.7% increase since 2015.

How much cash does Las Vegas Sands have?

In the past 9 years, Las Vegas Sands' cash and equivalents has ranged from $1.85 billion in 2021 to $6.31 billion in 2022, and is currently $3.65 billion as of their latest financial filing in 2024.

How has Las Vegas Sands' book value per share changed over the last 9 years?

Over the last 9 years, Las Vegas Sands' book value per share changed from 8.57 in 2015 to 3.98 in 2024, a change of -53.6%.



This page (NYSE:LVS) was last updated on 4/29/2025 by MarketBeat.com Staff
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