Las Vegas Sands (LVS) Financials

$41.17 +0.56 (+1.38%)

Closing price 03:59 PM Eastern

Extended Trading

$41.11 -0.06 (-0.15%)

As of 07:57 PM Eastern

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

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	352	324	275	353	494	382	380	312	147	-169	-239
Consolidated Net Income / (Loss)	408	392	353	424	583	469	449	368	145	-274	-381
Net Income / (Loss) Continuing Operations	408	392	353	424	583	469	449	368	145	-269	-380
Total Pre-Tax Income	471	461	403	496	600	592	571	417	195	-287	-320
Total Operating Income	609	590	504	591	717	710	688	537	378	-166	-177
Total Gross Profit	1,412	1,403	1,274	1,338	1,487	1,481	1,406	1,244	1,032	451	420
Total Revenue	2,862	2,896	2,682	2,761	2,959	2,915	2,795	2,542	2,120	1,117	1,005
Operating Revenue	2,862	2,896	2,682	2,761	2,959	2,915	2,795	2,542	2,120	1,117	1,005
Total Cost of Revenue	1,450	1,493	1,408	1,423	1,472	1,434	1,389	1,298	1,088	666	585
Operating Cost of Revenue	1,450	1,504	1,408	1,423	1,461	1,428	1,389	1,298	1,094	680	577
Total Operating Expenses	803	813	770	747	770	771	718	707	654	617	597
Selling, General & Admin Expense	346	378	361	337	364	351	339	339	308	310	291
Research & Development Expense	69	59	55	61	53	65	44	54	42	35	26
Depreciation Expense	362	348	324	316	320	333	313	288	274	256	260
Amortization Expense	15	15	15	14	16	15	15	14	14	13	14
Impairment Charge	7.00	9.00	11	16	14	5.00	4.00	4.00	14	1.00	2.00
Other Special Charges / (Income)	4.00	4.00	4.00	3.00	3.00	2.00	3.00	8.00	2.00	2.00	4.00
Total Other Income / (Expense), net	-138	-129	-101	-95	-117	-118	-117	-120	-183	-121	-143
Interest Expense	179	180	179	186	182	190	200	210	218	201	183
Interest & Investment Income	42	57	67	80	71	63	79	76	70	60	38
Other Income / (Expense), net	-1.00	-6.00	11	11	-6.00	9.00	4.00	14	-35	20	2.00
Income Tax Expense	63	69	50	72	17	123	122	49	50	-18	60
Net Income / (Loss) Attributable to Noncontrolling Interest	56	68	78	71	89	87	69	56	-2.00	-105	-142
Basic Earnings per Share	$0.49	$0.45	$0.38	$0.48	$0.66	$0.50	$0.50	$0.41	$0.19	($0.22)	($0.31)
Weighted Average Basic Shares Outstanding	712M	735M	730M	740M	750M	763M	764M	764M	764M	764M	764M
Diluted Earnings per Share	$0.49	$0.44	$0.38	$0.48	$0.66	$0.50	$0.50	$0.41	$0.19	($0.22)	($0.31)
Weighted Average Diluted Shares Outstanding	713M	737M	731M	741M	752M	765M	766M	767M	766M	764M	764M
Weighted Average Basic & Diluted Shares Outstanding	706.63M	715.93M	725.03M	736.43M	745.05M	753.62M	764.49M	764.45M	764.27M	764.27M	764.17M
Cash Dividends to Common per Share	$0.25	-	$0.20	$0.20	$0.20	-	$0.20	-	-	-	-

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-1,454	-1,207	4,511	-212	-2,081	-419	2,249	292	-49	-1,285
Net Cash From Operating Activities	3,204	3,227	-944	-243	-1,191	2,803	4,701	4,543	4,044	3,459
Net Cash From Continuing Operating Activities	3,204	3,227	-944	-243	-1,191	2,803	4,701	4,543	4,044	3,459
Net Income / (Loss) Continuing Operations	1,752	1,431	-1,541	-1,469	-1,900	3,168	2,951	3,263	2,025	2,386
Depreciation Expense	1,308	1,208	1,036	1,041	997	1,020	1,111	1,171	1,111	999
Amortization Expense	117	119	112	108	98	81	65	75	78	79
Non-Cash Adjustments To Reconcile Net Income	4.00	36	-714	212	127	-446	222	208	267	216
Changes in Operating Assets and Liabilities, net	23	433	163	-135	-513	-1,020	352	-174	563	-222
Net Cash From Investing Activities	-1,579	-1,254	-721	-832	-1,226	95	-930	-822	-1,440	-1,528
Net Cash From Continuing Investing Activities	-1,579	-1,254	-721	-832	-1,226	95	-930	-822	-1,440	-1,528
Purchase of Property, Plant & Equipment	-1,567	-1,017	-651	-828	-1,227	-1,018	-949	-837	-1,398	-1,529
Acquisitions	-13	-240	-129	-11	0.00	-53	0.00	0.00	-47	0.00
Sale of Property, Plant & Equipment	1.00	3.00	9.00	7.00	1.00	5.00	19	15	5.00	2.00
Other Investing Activities, net	0.00	0.00	50	0.00	0.00	-	-	-	-	-
Net Cash From Financing Activities	-3,060	-3,188	6,154	863	355	-3,328	-1,522	-3,487	-2,631	-3,216
Net Cash From Continuing Financing Activities	-3,060	-3,188	6,154	863	355	-3,328	-1,522	-3,487	-2,631	-3,216
Repayment of Debt	-2,166	-2,130	-77	-2,036	-498	-183	-5,178	-863	-2,020	-2,410
Repurchase of Common Equity	-1,750	-505	0.00	0.00	-	-754	-905	-375	0.00	-205
Payment of Dividends	-590	-305	0.00	0.00	-911	-3,000	-2,979	-2,943	-2,924	-2,707
Issuance of Debt	1,748	0.00	1,200	2,702	1,945	4,000	7,593	654	2,296	2,089
Other Financing Activities, net	-302	-248	5,031	197	-181	-3,391	-53	40	17	17
Effect of Exchange Rate Changes	-19	8.00	22	-16	-	14	-	-	-22	-
Other Net Changes in Cash	0.00	0.00	0.00	16	-19	-3.00	-	58	-	-
Cash Interest Paid	650	746	614	-	-	-	-	-	-	-
Cash Income Taxes Paid	222	176	649	-	-	-	-	-	-	-

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-614	-558	-503	-244	-149	-469	-194	-764	220	311	-343
Net Cash From Operating Activities	526	915	761	814	714	1,006	839	941	441	-104	-150
Net Cash From Continuing Operating Activities	526	915	761	814	714	1,006	839	941	441	-104	-150
Net Income / (Loss) Continuing Operations	408	392	353	424	583	469	449	368	145	-269	-380
Consolidated Net Income / (Loss)	408	-	353	424	583	-	449	368	145	-	-
Depreciation Expense	362	348	324	316	320	333	313	288	274	256	260
Amortization Expense	28	28	29	29	31	30	30	30	29	27	29
Non-Cash Adjustments To Reconcile Net Income	24	6.00	-17	-1.00	16	-2.00	-1.00	-2.00	41	-785	9.00
Changes in Operating Assets and Liabilities, net	-296	141	72	46	-236	176	48	257	-48	667	-68
Net Cash From Investing Activities	-454	-550	-541	-288	-200	-329	-324	-419	-182	-122	-167
Net Cash From Continuing Investing Activities	-454	-550	-541	-288	-200	-329	-324	-419	-182	-122	-167
Purchase of Property, Plant & Equipment	-379	-547	-539	-285	-196	-325	-330	-196	-166	-147	-169
Acquisitions	-75	-3.00	-2.00	-4.00	-4.00	-4.00	3.00	-223	-16	-25	-1.00
Net Cash From Financing Activities	-692	-879	-773	-769	-639	-1,178	-703	-1,271	-36	482	-15
Net Cash From Continuing Financing Activities	-692	-879	-773	-769	-639	-1,178	-703	-1,271	-36	482	-15
Repayment of Debt	-2,893	-138	-25	-1,967	-36	-270	-551	-1,274	-35	-18	-15
Repurchase of Common Equity	-416	-450	-450	-400	-450	-505	-	-	0.00	-	-
Payment of Dividends	-179	-145	-146	-148	-151	-152	-153	-	0.00	-	-
Issuance of Debt	2,797	-	-	-	-	-	-	-	-	500	-
Other Financing Activities, net	-1.00	-146	-152	-2.00	-2.00	-251	1.00	3.00	-1.00	-	-
Other Net Changes in Cash	6.00	-25	50	-	-	24	-	-	-	-	-
Cash Interest Paid	246	87	209	94	260	76	279	95	296	86	250
Cash Income Taxes Paid	34	16	91	84	31	32	58	61	25	155	150

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	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	20,666	21,778	22,039	20,059	20,807	23,199	22,547	20,687	20,469	20,863
Total Current Assets	4,290	5,777	6,744	5,510	5,707	5,305	5,566	3,197	3,098	3,609
Cash & Equivalents	3,650	5,105	6,311	1,854	2,082	4,226	4,648	2,419	2,128	2,179
Accounts Receivable	417	484	267	202	252	844	726	615	776	1,268
Inventories, net	41	38	28	22	22	37	35	37	46	43
Prepaid Expenses	182	150	138	113	113	182	144	115	138	111
Plant, Property, & Equipment, net	13,995	13,688	13,579	14,016	14,536	17,116	15,154	16,753	17,113	16,994
Total Noncurrent Assets	2,381	2,313	1,716	533	564	778	1,827	737	258	260
Noncurrent Note & Lease Receivables	1,264	1,194	1,165	0.00	-	-	1,198	-	-	-
Goodwill	545	598	64	-	-	-	-	-	-	-
Noncurrent Deferred & Refundable Income Taxes	122	121	131	297	318	282	368	493	0.00	24
Other Noncurrent Operating Assets	325	276	356	217	221	454	189	155	155	165
Other Noncurrent Nonoperating Assets	125	124	-	-	-	-	-	-	-	-
Total Liabilities & Shareholders' Equity	20,666	21,778	22,039	20,059	20,807	23,199	22,547	20,687	20,469	20,863
Total Liabilities	17,506	17,674	18,383	17,811	17,269	16,692	15,802	13,060	12,973	12,445
Total Current Liabilities	5,801	4,422	3,902	2,565	2,816	3,224	3,157	2,956	2,806	2,464
Short-Term Debt	3,160	1,900	2,031	74	75	70	111	296	167	95
Accounts Payable	164	167	89	77	89	149	178	171	128	111
Current Deferred & Payable Income Tax Liabilities	229	261	135	32	87	275	244	261	192	198
Other Current Liabilities	2,248	2,094	1,647	1,561	1,810	334	189	152	384	364
Total Noncurrent Liabilities	11,705	13,252	14,481	15,246	14,453	13,468	12,645	10,104	10,167	9,981
Long-Term Debt	10,592	12,129	13,947	14,721	13,929	12,422	11,874	9,344	9,428	9,249
Noncurrent Deferred & Payable Income Tax Liabilities	188	187	152	173	188	183	191	206	200	202
Other Noncurrent Operating Liabilities	925	936	382	352	336	513	179	147	126	113
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	3,160	4,104	3,656	2,248	3,538	6,507	6,745	7,627	7,496	8,418
Total Preferred & Common Equity	2,884	4,118	3,881	1,996	2,973	5,187	5,684	6,486	6,177	6,817
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-
Total Common Equity	2,884	4,118	3,881	1,996	2,973	5,187	5,684	6,486	6,177	6,817
Common Stock	6,246	6,482	6,685	6,647	6,612	6,570	6,681	6,581	6,517	6,486
Retained Earnings	3,455	2,600	1,684	-148	813	3,101	2,770	2,709	2,222	2,840
Treasury Stock	-6,759	-4,991	-4,481	-4,481	-4,481	-4,481	-3,727	-2,818	-2,443	-2,443
Accumulated Other Comprehensive Income / (Loss)	-58	27	-7.00	-22	29	-3.00	-40	14	-119	-66
Other Equity Adjustments	0.00	0.00	-	-	-	-	-	-	-	-
Noncontrolling Interest	276	-14	-225	252	565	1,320	1,061	1,141	1,319	1,601

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	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Total Assets	21,247	20,666	21,354	21,113	21,245	21,778	22,124	22,270	22,715	22,039	21,469
Total Current Assets	3,721	4,290	4,825	5,332	5,556	5,777	6,172	6,290	7,015	6,744	6,207
Cash & Equivalents	3,036	3,650	4,208	4,711	4,956	5,105	5,574	5,768	6,532	6,311	5,836
Accounts Receivable	435	417	413	436	420	484	390	336	328	267	210
Inventories, net	41	41	41	37	39	38	35	32	28	28	23
Prepaid Expenses	209	182	163	148	141	150	173	154	127	138	138
Plant, Property, & Equipment, net	14,913	13,995	14,168	13,465	13,386	13,688	13,642	13,666	13,464	13,579	13,318
Total Noncurrent Assets	2,613	2,381	2,361	2,316	2,303	2,313	2,310	2,314	2,236	1,716	1,944
Noncurrent Note & Lease Receivables	1,264	1,264	1,246	1,228	1,211	1,194	1,186	1,179	1,172	1,165	1,208
Goodwill	660	545	560	572	584	598	609	631	545	64	62
Noncurrent Deferred & Refundable Income Taxes	122	122	129	124	121	121	127	136	135	131	165
Other Noncurrent Operating Assets	442	325	426	392	387	276	388	368	384	356	509
Other Noncurrent Nonoperating Assets	125	125	-	-	-	124	-	-	-	-	-
Total Liabilities & Shareholders' Equity	21,247	20,666	21,354	21,113	21,245	21,778	22,124	22,270	22,715	22,039	21,469
Total Liabilities	18,214	17,506	17,707	17,219	17,220	17,674	17,672	18,111	18,886	18,383	17,688
Total Current Liabilities	6,255	5,801	5,350	3,369	4,267	4,422	4,102	2,275	3,919	3,902	3,391
Short-Term Debt	2,994	3,160	2,728	930	2,043	1,900	1,818	71	2,018	2,031	1,514
Accounts Payable	151	164	139	149	156	167	150	135	108	89	91
Current Deferred & Payable Income Tax Liabilities	279	229	223	244	256	261	213	171	171	135	323
Other Current Liabilities	2,831	2,248	2,260	2,046	1,812	2,094	1,921	1,898	1,622	1,647	1,463
Total Noncurrent Liabilities	11,959	11,705	12,357	13,850	12,953	13,252	13,570	15,836	14,967	14,481	14,297
Long-Term Debt	10,857	10,592	11,284	12,808	11,914	12,129	12,576	14,849	13,971	13,947	13,779
Noncurrent Deferred & Payable Income Tax Liabilities	185	188	185	173	175	187	150	145	146	152	150
Other Noncurrent Operating Liabilities	917	925	888	869	864	936	844	842	850	382	368
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	3,033	3,160	3,647	3,894	4,025	4,104	4,452	4,159	3,829	3,656	3,781
Total Preferred & Common Equity	2,699	2,884	3,426	3,754	3,953	4,118	4,553	4,330	4,056	3,881	3,900
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	2,699	2,884	3,426	3,754	3,953	4,118	4,553	4,330	4,056	3,881	3,900
Common Stock	6,308	6,246	6,370	6,509	6,494	6,482	6,721	6,709	6,695	6,685	6,676
Retained Earnings	3,628	3,455	3,276	3,148	2,943	2,600	2,370	2,143	1,831	1,684	1,853
Treasury Stock	-7,213	-6,759	-6,304	-5,850	-5,446	-4,991	-4,481	-4,481	-4,481	-4,481	-4,481
Accumulated Other Comprehensive Income / (Loss)	-24	-58	84	-53	-38	27	-57	-41	11	-7.00	-148
Other Equity Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	-	-	-	-	-
Noncontrolling Interest	334	276	221	140	72	-14	-101	-171	-227	-225	-119

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

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	8.93%	152.36%	-2.93%	44.01%	-75.76%	-11.67%	7.86%	12.93%	-3.57%	-19.86%
EBITDA Growth	5.64%	946.69%	-19.11%	253.76%	-105.49%	2.52%	7.30%	24.02%	-5.77%	-24.33%
EBIT Growth	4.64%	387.77%	-11.25%	47.60%	-134.55%	5.30%	12.08%	33.04%	-11.80%	-29.97%
NOPAT Growth	15.14%	436.35%	-14.95%	50.54%	-132.93%	-11.02%	-10.08%	65.38%	-13.44%	-32.62%
Net Income Growth	22.43%	5.45%	206.35%	40.46%	-164.86%	11.96%	-9.56%	61.14%	-15.13%	-33.50%
EPS Growth	22.50%	-33.33%	290.48%	42.99%	-163.14%	14.01%	-13.52%	68.25%	-14.57%	-29.83%
Operating Cash Flow Growth	-0.71%	441.84%	-288.48%	79.60%	-142.49%	-40.37%	3.48%	12.34%	16.91%	-28.43%
Free Cash Flow Firm Growth	-16.19%	292.49%	-504.38%	-117.00%	-50.31%	-43.34%	7.30%	33.49%	23.54%	-42.22%
Invested Capital Growth	1.81%	-3.14%	4.98%	-2.20%	-14.10%	4.40%	-5.08%	-0.79%	-3.91%	1.70%
Revenue Q/Q Growth	-0.17%	20.97%	2.72%	-0.17%	-23.08%	-11.51%	0.62%	3.71%	0.67%	-4.53%
EBITDA Q/Q Growth	-3.08%	35.17%	-1.98%	-0.92%	-168.38%	-6.17%	-2.40%	4.79%	3.05%	-7.76%
EBIT Q/Q Growth	-5.30%	60.07%	0.50%	-3.00%	-136.90%	-4.81%	-3.77%	8.78%	1.65%	-10.19%
NOPAT Q/Q Growth	-2.67%	67.78%	-3.66%	-2.84%	-106.98%	20.27%	-31.15%	31.69%	-0.27%	-10.17%
Net Income Q/Q Growth	-4.21%	107.99%	-5.37%	12.30%	-117.78%	33.17%	-32.19%	29.59%	2.05%	-11.26%
EPS Q/Q Growth	-2.97%	81.82%	-2.04%	15.44%	-123.23%	41.13%	-36.04%	32.96%	2.93%	-11.47%
Operating Cash Flow Q/Q Growth	-2.76%	52.43%	-27.91%	18.18%	-413.36%	-9.49%	-0.42%	2.44%	5.05%	-5.39%
Free Cash Flow Firm Q/Q Growth	-5.57%	111.96%	-32.29%	-108.34%	196.80%	-19.30%	-5.54%	-0.58%	29.80%	-17.87%
Invested Capital Q/Q Growth	-2.33%	-2.77%	0.64%	-1.44%	-17.34%	0.87%	-6.01%	2.28%	-3.59%	0.57%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	48.70%	49.78%	39.78%	37.91%	25.00%	49.53%	49.17%	49.52%	48.02%	48.70%
EBITDA Margin	33.96%	35.02%	8.44%	10.13%	-9.49%	41.87%	36.08%	36.27%	33.02%	33.80%
Operating Margin	21.26%	22.30%	-19.27%	-16.27%	-47.38%	27.75%	27.32%	27.22%	22.20%	24.31%
EBIT Margin	21.35%	22.22%	-19.49%	-17.01%	-46.73%	32.79%	27.51%	26.48%	22.47%	24.57%
Profit (Net Income) Margin	15.51%	13.80%	33.02%	-30.14%	-72.89%	27.25%	21.49%	25.64%	17.97%	20.41%
Tax Burden Percent	89.39%	80.62%	-97.84%	86.57%	114.23%	91.78%	88.73%	106.84%	89.44%	91.00%
Interest Burden Percent	81.26%	77.01%	173.16%	204.72%	136.54%	90.52%	88.06%	90.62%	89.38%	91.30%
Effective Tax Rate	10.61%	19.38%	0.00%	0.00%	0.00%	12.00%	11.27%	-6.84%	10.56%	9.00%
Return on Invested Capital (ROIC)	16.49%	14.22%	-4.26%	-3.76%	-6.94%	20.02%	22.40%	24.18%	14.27%	16.30%
ROIC Less NNEP Spread (ROIC-NNEP)	12.28%	9.52%	14.75%	-11.74%	-19.89%	24.22%	17.49%	18.52%	11.52%	13.51%
Return on Net Nonoperating Assets (RNNOA)	31.75%	22.66%	50.23%	-40.35%	-35.72%	29.84%	18.67%	18.97%	11.18%	11.06%
Return on Equity (ROE)	48.24%	36.88%	45.97%	-44.11%	-42.67%	49.86%	41.07%	43.15%	25.45%	27.36%
Cash Return on Invested Capital (CROIC)	14.70%	17.42%	-9.12%	-1.53%	8.22%	15.72%	27.61%	24.98%	18.27%	14.62%
Operating Return on Assets (OROA)	11.37%	10.52%	-3.81%	-3.52%	-6.24%	17.39%	17.47%	16.38%	12.26%	13.29%
Return on Assets (ROA)	8.26%	6.53%	6.45%	-6.24%	-9.74%	14.45%	13.65%	15.86%	9.80%	11.04%
Return on Common Equity (ROCE)	46.50%	38.02%	45.76%	-37.88%	-34.66%	40.91%	34.77%	36.13%	20.78%	22.02%
Return on Equity Simple (ROE_SIMPLE)	60.75%	34.75%	34.97%	-63.93%	-72.08%	63.70%	51.92%	50.31%	32.78%	35.00%
Net Operating Profit after Tax (NOPAT)	2,147	1,865	-554	-482	-975	2,961	3,328	3,701	2,238	2,585
NOPAT Margin	19.00%	17.98%	-13.49%	-11.39%	-33.17%	24.42%	24.24%	29.08%	19.86%	22.12%
Net Nonoperating Expense Percent (NNEP)	4.21%	4.70%	-19.01%	7.98%	12.95%	-4.20%	4.92%	5.66%	2.76%	2.79%
Return On Investment Capital (ROIC_SIMPLE)	12.70%	10.28%	-2.82%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	51.30%	50.22%	60.22%	62.09%	75.00%	50.47%	50.83%	50.48%	51.98%	51.30%
SG&A Expenses to Revenue	12.75%	12.89%	28.49%	24.61%	32.86%	11.80%	12.27%	12.49%	13.69%	12.35%
R&D to Revenue	2.02%	1.98%	3.48%	2.57%	0.61%	0.20%	0.09%	0.10%	0.08%	0.09%
Operating Expenses to Revenue	27.44%	27.48%	59.05%	54.18%	72.38%	21.78%	21.84%	22.31%	25.82%	24.39%
Earnings before Interest and Taxes (EBIT)	2,412	2,305	-801	-720	-1,374	3,977	3,777	3,370	2,533	2,872
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	3,837	3,632	347	429	-279	5,078	4,953	4,616	3,722	3,950
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	12.91	8.98	9.23	14.11	14.99	9.81	6.55	7.39	5.73	4.04
Price to Tangible Book Value (P/TBV)	15.92	10.50	9.39	14.24	15.12	9.89	6.63	7.49	5.82	4.08
Price to Revenue (P/Rev)	3.30	3.56	8.72	6.65	15.16	4.20	2.71	3.76	3.14	2.36
Price to Earnings (P/E)	25.75	30.28	19.56	0.00	0.00	18.87	15.42	17.06	21.07	14.01
Dividend Yield	1.56%	0.83%	0.00%	0.00%	5.31%	4.65%	6.32%	4.82%	6.47%	7.51%
Earnings Yield	3.88%	3.30%	5.11%	0.00%	0.00%	5.30%	6.48%	5.86%	4.75%	7.14%
Enterprise Value to Invested Capital (EV/IC)	3.62	3.56	3.40	3.26	4.40	4.00	3.15	3.69	2.87	2.27
Enterprise Value to Revenue (EV/Rev)	4.21	4.42	11.01	9.76	19.40	4.99	3.32	4.42	3.92	3.11
Enterprise Value to EBITDA (EV/EBITDA)	12.41	12.63	130.46	96.35	0.00	11.91	9.21	12.19	11.86	9.19
Enterprise Value to EBIT (EV/EBIT)	19.74	19.90	0.00	0.00	0.00	15.21	12.07	16.69	17.43	12.64
Enterprise Value to NOPAT (EV/NOPAT)	22.18	24.60	0.00	0.00	0.00	20.42	13.70	15.20	19.73	14.04
Enterprise Value to Operating Cash Flow (EV/OCF)	14.86	14.22	0.00	0.00	0.00	21.57	9.70	12.38	10.92	10.49
Enterprise Value to Free Cash Flow (EV/FCFF)	24.88	20.09	0.00	0.00	49.39	26.02	11.12	14.71	15.42	15.66
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.35	3.42	4.37	6.58	3.96	1.92	1.78	1.26	1.28	1.11
Long-Term Debt to Equity	3.35	2.96	3.81	6.55	3.94	1.91	1.76	1.23	1.26	1.10
Financial Leverage	2.58	2.38	3.41	3.44	1.80	1.23	1.07	1.02	0.97	0.82
Leverage Ratio	5.84	5.65	7.13	7.06	4.38	3.45	3.01	2.72	2.60	2.48
Compound Leverage Factor	4.75	4.35	12.35	14.46	5.98	3.12	2.65	2.47	2.32	2.26
Debt to Total Capital	81.32%	77.37%	81.38%	86.81%	79.83%	65.75%	63.99%	55.83%	56.14%	52.61%
Short-Term Debt to Total Capital	18.69%	10.48%	10.34%	0.43%	0.43%	0.37%	0.59%	1.71%	0.98%	0.53%
Long-Term Debt to Total Capital	62.63%	66.89%	71.03%	86.38%	79.40%	65.38%	63.40%	54.11%	55.16%	52.07%
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	1.63%	-0.08%	-1.15%	1.48%	3.22%	6.95%	5.66%	6.61%	7.72%	9.01%
Common Equity to Total Capital	17.05%	22.71%	19.77%	11.71%	16.95%	27.30%	30.35%	37.56%	36.14%	38.38%
Debt to EBITDA	3.58	3.86	46.05	34.49	-50.19	2.46	2.42	2.09	2.58	2.37
Net Debt to EBITDA	2.63	2.46	27.86	30.13	-42.67	1.62	1.48	1.56	2.00	1.81
Long-Term Debt to EBITDA	2.76	3.34	40.19	34.31	-49.92	2.45	2.40	2.02	2.53	2.34
Debt to NOPAT	6.40	7.52	-28.82	-30.68	-14.36	4.22	3.60	2.60	4.29	3.61
Net Debt to NOPAT	4.71	4.79	-17.44	-26.80	-12.21	2.79	2.20	1.95	3.33	2.77
Long-Term Debt to NOPAT	4.93	6.50	-25.16	-30.52	-14.28	4.19	3.57	2.52	4.21	3.58
Altman Z-Score	2.35	2.32	1.50	1.21	1.69	3.21	2.88	3.55	2.76	2.60
Noncontrolling Interest Sharing Ratio	3.61%	-3.08%	0.46%	14.12%	18.77%	17.97%	15.32%	16.27%	18.35%	19.54%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.74	1.31	1.73	2.15	2.03	1.65	1.76	1.08	1.10	1.46
Quick Ratio	0.70	1.26	1.69	0.80	0.83	1.57	1.70	1.03	1.03	1.40
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,914	2,284	-1,186	-196	1,155	2,324	4,102	3,823	2,864	2,318
Operating Cash Flow to CapEx	204.60%	318.24%	-147.04%	-29.60%	-97.15%	276.70%	505.48%	552.68%	290.31%	226.52%
Free Cash Flow to Firm to Interest Expense	2.63	2.79	-1.69	-0.26	2.21	5.15	8.04	11.52	10.26	8.75
Operating Cash Flow to Interest Expense	4.41	3.95	-1.34	-0.32	-2.28	6.22	9.22	13.68	14.49	13.05
Operating Cash Flow Less CapEx to Interest Expense	2.25	2.71	-2.26	-1.40	-4.62	3.97	7.39	11.21	9.50	7.29
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.53	0.47	0.20	0.21	0.13	0.53	0.64	0.62	0.55	0.54
Accounts Receivable Turnover	25.08	27.62	17.53	18.65	5.37	15.45	20.48	18.30	11.03	8.41
Inventory Turnover	146.73	157.85	99.00	119.50	74.75	170.03	193.86	154.82	131.66	141.63
Fixed Asset Turnover	0.82	0.76	0.30	0.30	0.19	0.75	0.86	0.75	0.66	0.69
Accounts Payable Turnover	35.02	40.70	29.82	31.67	18.53	37.44	39.99	42.98	49.03	53.60
Days Sales Outstanding (DSO)	14.55	13.21	20.83	19.57	68.03	23.63	17.83	19.94	33.10	43.39
Days Inventory Outstanding (DIO)	2.49	2.31	3.69	3.05	4.88	2.15	1.88	2.36	2.77	2.58
Days Payable Outstanding (DPO)	10.42	8.97	12.24	11.52	19.70	9.75	9.13	8.49	7.44	6.81
Cash Conversion Cycle (CCC)	6.62	6.56	12.27	11.10	53.22	16.02	10.58	13.81	28.42	39.16
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,137	12,904	13,323	12,691	12,977	15,107	14,470	15,244	15,366	15,992
Invested Capital Turnover	0.87	0.79	0.32	0.33	0.21	0.82	0.92	0.83	0.72	0.74
Increase / (Decrease) in Invested Capital	233	-419	632	-286	-2,130	637	-774	-122	-626	267
Enterprise Value (EV)	47,615	45,880	45,268	41,333	57,044	60,472	45,601	56,251	44,147	36,298
Market Capitalization	37,237	36,970	35,826	28,156	44,573	50,902	37,216	47,900	35,371	27,540
Book Value per Share	$3.98	$5.39	$5.08	$2.61	$3.89	$6.75	$7.25	$8.21	$7.77	$8.57
Tangible Book Value per Share	$3.23	$4.60	$5.00	$2.59	$3.86	$6.70	$7.16	$8.09	$7.64	$8.48
Total Capital	16,912	18,133	19,634	17,043	17,542	18,999	18,730	17,267	17,091	17,762
Total Debt	13,752	14,029	15,978	14,795	14,004	12,492	11,985	9,640	9,595	9,344
Total Long-Term Debt	10,592	12,129	13,947	14,721	13,929	12,422	11,874	9,344	9,428	9,249
Net Debt	10,102	8,924	9,667	12,925	11,906	8,250	7,324	7,210	7,457	7,157
Capital Expenditures (CapEx)	1,566	1,014	642	821	1,226	1,013	930	822	1,393	1,527
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,001	-1,850	-1,438	1,149	868	-2,091	-2,141	-1,893	-1,679	-947
Debt-free Net Working Capital (DFNWC)	1,649	3,255	4,873	3,019	2,966	2,151	2,520	537	459	1,240
Net Working Capital (NWC)	-1,511	1,355	2,842	2,945	2,891	2,081	2,409	241	292	1,145
Net Nonoperating Expense (NNE)	395	434	-1,911	794	1,168	-343	377	438	213	199
Net Nonoperating Obligations (NNO)	9,977	8,800	9,667	10,443	9,439	8,600	7,725	7,617	7,870	7,574
Total Depreciation and Amortization (D&A)	1,425	1,327	1,148	1,149	1,095	1,101	1,176	1,246	1,189	1,078
Debt-free, Cash-free Net Working Capital to Revenue	-17.71%	-17.84%	-34.99%	27.14%	29.52%	-17.24%	-15.59%	-14.87%	-14.90%	-8.10%
Debt-free Net Working Capital to Revenue	14.60%	31.38%	118.56%	71.30%	100.88%	17.74%	18.36%	4.22%	4.07%	10.61%
Net Working Capital to Revenue	-13.37%	13.06%	69.15%	69.56%	98.33%	17.16%	17.55%	1.89%	2.59%	9.80%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$1.97	$1.60	$2.40	($1.26)	($2.21)	$3.50	$3.07	$3.54	$2.10	$2.47
Adjusted Weighted Average Basic Shares Outstanding	735M	763M	764M	764M	764M	771M	786M	792M	795M	796.79M
Adjusted Diluted Earnings per Share	$1.96	$1.60	$2.40	($1.26)	($2.21)	$3.50	$3.07	$3.54	$2.10	$2.47
Adjusted Weighted Average Diluted Shares Outstanding	737M	765M	764M	764M	764M	771M	786M	792M	795M	797.60M
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	715.93M	753.62M	764.27M	763.99M	763.84M	763.68M	775.05M	788.88M	793.99M	794.69M
Normalized Net Operating Profit after Tax (NOPAT)	2,204	1,899	-539	-450	-911	3,062	3,466	2,444	2,425	2,661
Normalized NOPAT Margin	19.51%	18.31%	-13.11%	-10.63%	-30.98%	25.25%	25.25%	19.20%	21.51%	22.77%
Pre Tax Income Margin	17.35%	17.11%	-33.75%	-34.81%	-63.81%	29.69%	24.23%	23.99%	20.09%	22.43%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.32	2.82	-1.14	-0.95	-2.63	8.82	7.41	10.15	9.08	10.84
NOPAT to Interest Expense	2.95	2.28	-0.79	-0.64	-1.86	6.57	6.53	11.15	8.02	9.76
EBIT Less CapEx to Interest Expense	1.16	1.58	-2.06	-2.03	-4.97	6.57	5.58	7.67	4.09	5.08
NOPAT Less CapEx to Interest Expense	0.80	1.04	-1.70	-1.72	-4.21	4.32	4.70	8.67	3.03	3.99
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	33.68%	21.31%	0.00%	0.00%	-42.51%	90.80%	100.95%	90.19%	144.40%	113.45%
Augmented Payout Ratio	133.56%	56.60%	0.00%	0.00%	-42.51%	113.62%	131.62%	101.69%	144.40%	122.05%

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

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-3.28%	-0.65%	-4.04%	8.62%	39.58%	160.97%	178.11%	143.25%	124.81%	10.81%	17.27%
EBITDA Growth	-6.03%	-11.28%	-16.14%	8.98%	64.40%	689.78%	807.89%	578.91%	2,118.75%	-4.86%	392.31%
EBIT Growth	-14.49%	-18.78%	-25.58%	9.26%	107.29%	592.47%	495.43%	453.21%	205.86%	2.67%	46.65%
NOPAT Growth	-24.28%	-10.81%	-18.40%	6.61%	147.86%	584.06%	536.64%	560.54%	232.96%	-20.29%	43.99%
Net Income Growth	-30.02%	-16.42%	-21.38%	15.22%	302.07%	271.17%	217.85%	188.25%	-94.03%	-39.09%	23.03%
EPS Growth	-25.76%	-12.00%	-24.00%	17.07%	247.37%	327.27%	261.29%	207.89%	-94.26%	-29.41%	35.42%
Operating Cash Flow Growth	-26.33%	-9.05%	-9.30%	-13.50%	61.90%	1,067.31%	659.33%	595.26%	188.20%	-201.96%	37.50%
Free Cash Flow Firm Growth	-117.71%	-72.62%	-48.23%	209.87%	371.09%	231.18%	204.34%	197.97%	165.85%	-495.04%	-118.68%
Invested Capital Growth	5.35%	1.81%	1.35%	-2.93%	-1.96%	-3.14%	0.26%	1.41%	0.59%	4.98%	2.81%
Revenue Q/Q Growth	-1.17%	7.98%	-2.86%	-6.69%	1.51%	4.29%	9.95%	19.91%	89.79%	11.14%	-3.83%
EBITDA Q/Q Growth	3.96%	10.60%	-8.34%	-10.83%	-1.85%	4.54%	19.10%	34.52%	371.53%	20.18%	-10.94%
EBIT Q/Q Growth	4.11%	13.40%	-14.45%	-15.33%	-1.11%	3.90%	25.59%	60.64%	334.93%	16.57%	-12.18%
NOPAT Q/Q Growth	5.15%	13.64%	-12.62%	-27.48%	23.86%	3.97%	14.16%	68.60%	341.89%	6.21%	-20.41%
Net Income Q/Q Growth	4.08%	11.05%	-16.75%	-27.27%	24.31%	4.45%	22.01%	153.79%	152.92%	28.08%	8.63%
EPS Q/Q Growth	11.36%	15.79%	-20.83%	-27.27%	32.00%	0.00%	21.95%	115.79%	186.36%	29.03%	18.42%
Operating Cash Flow Q/Q Growth	-42.51%	20.24%	-6.51%	14.01%	-29.03%	19.90%	-10.84%	113.38%	524.04%	30.67%	21.05%
Free Cash Flow Firm Q/Q Growth	-163.07%	2.37%	-70.68%	-6.43%	11.57%	93.59%	75.49%	42.26%	127.14%	-53.98%	-64.77%
Invested Capital Q/Q Growth	4.46%	-2.33%	4.10%	-0.81%	-0.02%	-2.77%	-0.29%	0.19%	-0.28%	0.64%	0.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	49.34%	48.45%	47.50%	48.46%	50.25%	50.81%	50.30%	48.94%	48.68%	40.38%	41.79%
EBITDA Margin	34.87%	33.15%	32.36%	34.30%	35.89%	37.12%	37.03%	34.19%	30.47%	12.27%	11.34%
Operating Margin	21.28%	20.37%	18.79%	21.41%	24.23%	24.36%	24.62%	21.13%	17.83%	-14.86%	-17.61%
EBIT Margin	21.24%	20.17%	19.20%	21.80%	24.03%	24.67%	24.76%	21.68%	16.18%	-13.07%	-17.41%
Profit (Net Income) Margin	14.26%	13.54%	13.16%	15.36%	19.70%	16.09%	16.06%	14.48%	6.84%	-24.53%	-37.91%
Tax Burden Percent	86.62%	85.03%	87.59%	85.48%	97.17%	79.22%	78.63%	88.25%	74.36%	95.47%	119.06%
Interest Burden Percent	77.47%	78.94%	78.25%	82.39%	84.39%	82.34%	82.51%	75.68%	56.85%	196.58%	182.86%
Effective Tax Rate	13.38%	14.97%	12.41%	14.52%	2.83%	20.78%	21.37%	11.75%	25.64%	0.00%	0.00%
Return on Invested Capital (ROIC)	15.44%	15.03%	13.94%	15.95%	20.06%	15.26%	12.52%	9.57%	5.29%	-3.29%	-3.78%
ROIC Less NNEP Spread (ROIC-NNEP)	14.22%	13.86%	12.99%	15.05%	18.83%	14.25%	11.51%	8.40%	3.78%	-4.86%	-6.36%
Return on Net Nonoperating Assets (RNNOA)	39.68%	35.84%	29.88%	33.98%	44.26%	33.91%	25.56%	18.11%	7.99%	-16.54%	-20.39%
Return on Equity (ROE)	55.12%	50.87%	43.82%	49.93%	64.32%	49.17%	38.08%	27.68%	13.28%	-19.83%	-24.17%
Cash Return on Invested Capital (CROIC)	9.56%	14.70%	15.17%	20.55%	19.26%	17.42%	8.13%	-119.10%	-1.18%	-9.12%	-6.87%
Operating Return on Assets (OROA)	11.20%	10.74%	10.00%	11.49%	12.26%	11.68%	9.74%	6.63%	3.81%	-2.55%	-3.37%
Return on Assets (ROA)	7.52%	7.21%	6.85%	8.09%	10.05%	7.62%	6.32%	4.43%	1.61%	-4.79%	-7.33%
Return on Common Equity (ROCE)	51.95%	49.03%	43.17%	50.12%	65.59%	50.69%	39.10%	28.16%	13.41%	-19.74%	-23.36%
Return on Equity Simple (ROE_SIMPLE)	58.43%	0.00%	53.39%	51.28%	47.28%	0.00%	15.11%	-3.28%	-22.86%	0.00%	36.77%
Net Operating Profit after Tax (NOPAT)	528	502	441	505	697	562	541	474	281	-116	-124
NOPAT Margin	18.43%	17.32%	16.46%	18.30%	23.54%	19.30%	19.36%	18.64%	13.26%	-10.40%	-12.33%
Net Nonoperating Expense Percent (NNEP)	1.21%	1.17%	0.95%	0.89%	1.23%	1.01%	1.01%	1.17%	1.51%	1.57%	2.58%
Return On Investment Capital (ROIC_SIMPLE)	3.12%	2.97%	-	-	-	3.10%	-	-	-	-0.59%	-
Cost of Revenue to Revenue	50.66%	51.55%	52.50%	51.54%	49.75%	49.19%	49.70%	51.06%	51.32%	59.62%	58.21%
SG&A Expenses to Revenue	12.09%	13.05%	13.46%	12.21%	12.30%	12.04%	12.13%	13.34%	14.53%	27.75%	28.96%
R&D to Revenue	2.41%	2.04%	2.05%	2.21%	1.79%	2.23%	1.57%	2.12%	1.98%	3.13%	2.59%
Operating Expenses to Revenue	28.06%	28.07%	28.71%	27.06%	26.02%	26.45%	25.69%	27.81%	30.85%	55.24%	59.40%
Earnings before Interest and Taxes (EBIT)	608	584	515	602	711	719	692	551	343	-146	-175
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	998	960	868	947	1,062	1,082	1,035	869	646	137	114
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	10.25	12.91	10.82	8.74	9.90	8.98	7.56	10.02	10.60	9.23	7.20
Price to Tangible Book Value (P/TBV)	13.56	15.92	12.94	10.31	11.62	10.50	8.73	11.73	12.24	9.39	7.31
Price to Revenue (P/Rev)	2.47	3.30	3.28	2.87	3.49	3.56	4.02	6.40	8.13	8.72	7.02
Price to Earnings (P/E)	21.21	25.75	24.65	20.38	24.97	30.28	51.39	851.02	0.00	19.56	14.95
Dividend Yield	2.20%	1.56%	1.59%	1.82%	1.17%	0.83%	0.44%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.72%	3.88%	4.06%	4.91%	4.01%	3.30%	1.95%	0.12%	0.00%	5.11%	6.69%
Enterprise Value to Invested Capital (EV/IC)	2.83	3.62	3.50	3.25	3.70	3.56	3.25	3.94	3.93	3.40	2.83
Enterprise Value to Revenue (EV/Rev)	3.46	4.21	4.16	3.67	4.30	4.42	5.03	7.72	9.88	11.01	9.35
Enterprise Value to EBITDA (EV/EBITDA)	10.29	12.41	11.90	10.17	11.91	12.63	16.06	29.66	50.95	130.46	105.68
Enterprise Value to EBIT (EV/EBIT)	16.81	19.74	18.49	15.40	18.04	19.90	29.96	91.42	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	19.64	22.18	21.35	18.20	21.21	24.60	38.82	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	12.87	14.86	14.29	12.44	13.78	14.22	20.38	46.44	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	30.35	24.88	23.23	15.56	19.03	20.09	40.05	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.57	4.35	3.84	3.53	3.47	3.42	3.23	3.59	4.18	4.37	4.04
Long-Term Debt to Equity	3.58	3.35	3.09	3.29	2.96	2.96	2.82	3.57	3.65	3.81	3.64
Financial Leverage	2.79	2.58	2.30	2.26	2.35	2.38	2.22	2.16	2.11	3.41	3.21
Leverage Ratio	6.02	5.84	5.37	5.39	5.60	5.65	5.29	5.29	5.29	7.13	6.66
Compound Leverage Factor	4.66	4.61	4.20	4.44	4.72	4.65	4.37	4.01	3.01	14.02	12.18
Debt to Total Capital	82.04%	81.32%	79.35%	77.92%	77.62%	77.37%	76.38%	78.20%	80.68%	81.38%	80.18%
Short-Term Debt to Total Capital	17.73%	18.69%	15.45%	5.27%	11.36%	10.48%	9.65%	0.37%	10.18%	10.34%	7.94%
Long-Term Debt to Total Capital	64.30%	62.63%	63.90%	72.64%	66.26%	66.89%	66.73%	77.83%	70.50%	71.03%	72.24%
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%	0.00%
Noncontrolling Interests to Total Capital	1.98%	1.63%	1.25%	0.79%	0.40%	-0.08%	-0.54%	-0.90%	-1.15%	-1.15%	-0.62%
Common Equity to Total Capital	15.99%	17.05%	19.40%	21.29%	21.98%	22.71%	24.16%	22.70%	20.47%	19.77%	20.45%
Debt to EBITDA	3.67	3.58	3.54	3.33	3.45	3.86	5.36	8.45	15.60	46.05	43.20
Net Debt to EBITDA	2.87	2.63	2.48	2.19	2.22	2.46	3.28	5.18	9.23	27.86	26.71
Long-Term Debt to EBITDA	2.88	2.76	2.85	3.10	2.94	3.34	4.68	8.41	13.63	40.19	38.92
Debt to NOPAT	7.01	6.40	6.35	5.96	6.14	7.52	12.95	-0.96	-203.94	-28.82	-28.60
Net Debt to NOPAT	5.47	4.71	4.44	3.91	3.96	4.79	7.94	-0.59	-120.63	-17.44	-17.68
Long-Term Debt to NOPAT	5.50	4.93	5.12	5.55	5.24	6.50	11.32	-0.95	-178.20	-25.16	-25.76
Altman Z-Score	1.63	2.06	2.05	2.10	2.27	2.08	1.92	2.18	1.92	1.60	1.39
Noncontrolling Interest Sharing Ratio	5.75%	3.61%	1.48%	-0.38%	-1.97%	-3.08%	-2.67%	-1.76%	-0.93%	0.46%	3.35%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.59	0.74	0.90	1.58	1.30	1.31	1.50	2.76	1.79	1.73	1.83
Quick Ratio	0.55	0.70	0.86	1.53	1.26	1.26	1.45	2.68	1.75	1.69	1.78
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-169	269	262	895	957	981	507	289	203	-748	-486
Operating Cash Flow to CapEx	138.79%	167.28%	141.19%	285.61%	364.29%	309.54%	256.57%	480.10%	265.66%	-70.75%	-90.36%
Free Cash Flow to Firm to Interest Expense	-0.95	1.49	1.47	4.81	5.26	5.17	2.54	1.38	0.93	-3.72	-2.66
Operating Cash Flow to Interest Expense	2.94	5.08	4.25	4.38	3.92	5.29	4.20	4.48	2.02	-0.52	-0.82
Operating Cash Flow Less CapEx to Interest Expense	0.82	2.04	1.24	2.84	2.85	3.58	2.56	3.55	1.26	-1.25	-1.73
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.53	0.53	0.52	0.53	0.51	0.47	0.39	0.31	0.24	0.20	0.19
Accounts Receivable Turnover	26.20	25.08	28.19	29.61	29.98	27.62	28.58	27.47	22.26	17.53	21.23
Inventory Turnover	144.35	146.73	150.97	165.74	166.96	157.85	153.14	129.89	115.41	99.00	106.93
Fixed Asset Turnover	0.79	0.82	0.81	0.84	0.84	0.76	0.64	0.50	0.39	0.30	0.29
Accounts Payable Turnover	37.62	35.02	39.70	40.27	42.37	40.70	36.85	34.47	33.25	29.82	29.16
Days Sales Outstanding (DSO)	13.93	14.55	12.95	12.33	12.18	13.21	12.77	13.29	16.40	20.83	17.20
Days Inventory Outstanding (DIO)	2.53	2.49	2.42	2.20	2.19	2.31	2.38	2.81	3.16	3.69	3.41
Days Payable Outstanding (DPO)	9.70	10.42	9.19	9.06	8.61	8.97	9.90	10.59	10.98	12.24	12.52
Cash Conversion Cycle (CCC)	6.76	6.62	6.17	5.46	5.75	6.56	5.25	5.51	8.58	12.27	8.09
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	13,723	13,137	13,451	12,921	13,026	12,904	13,272	13,311	13,286	13,323	13,238
Invested Capital Turnover	0.84	0.87	0.85	0.87	0.85	0.79	0.65	0.51	0.40	0.32	0.31
Increase / (Decrease) in Invested Capital	697	233	179	-390	-260	-419	34	185	78	632	362
Enterprise Value (EV)	38,806	47,615	47,097	41,961	48,221	45,880	43,148	52,383	52,221	45,268	37,410
Market Capitalization	27,657	37,237	37,072	32,794	39,148	36,970	34,429	43,402	42,991	35,826	28,072
Book Value per Share	$3.77	$3.98	$4.65	$5.04	$5.27	$5.39	$5.96	$5.67	$5.31	$5.08	$5.10
Tangible Book Value per Share	$2.85	$3.23	$3.89	$4.27	$4.49	$4.60	$5.16	$4.84	$4.59	$5.00	$5.02
Total Capital	16,884	16,912	17,659	17,632	17,982	18,133	18,846	19,079	19,818	19,634	19,074
Total Debt	13,851	13,752	14,012	13,738	13,957	14,029	14,394	14,920	15,989	15,978	15,293
Total Long-Term Debt	10,857	10,592	11,284	12,808	11,914	12,129	12,576	14,849	13,971	13,947	13,779
Net Debt	10,815	10,102	9,804	9,027	9,001	8,924	8,820	9,152	9,457	9,667	9,457
Capital Expenditures (CapEx)	379	547	539	285	196	325	327	196	166	147	166
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-2,576	-2,001	-2,005	-1,818	-1,624	-1,850	-1,686	-1,682	-1,418	-1,438	-1,506
Debt-free Net Working Capital (DFNWC)	460	1,649	2,203	2,893	3,332	3,255	3,888	4,086	5,114	4,873	4,330
Net Working Capital (NWC)	-2,534	-1,511	-525	1,963	1,289	1,355	2,070	4,015	3,096	2,842	2,816
Net Nonoperating Expense (NNE)	120	110	88	81	114	93	92	106	136	158	257
Net Nonoperating Obligations (NNO)	10,690	9,977	9,804	9,027	9,001	8,800	8,820	9,152	9,457	9,667	9,457
Total Depreciation and Amortization (D&A)	390	376	353	345	351	363	343	318	303	283	289
Debt-free, Cash-free Net Working Capital to Revenue	-23.00%	-17.71%	-17.72%	-15.91%	-14.49%	-17.84%	-19.66%	-24.79%	-26.82%	-34.99%	-37.64%
Debt-free Net Working Capital to Revenue	4.11%	14.60%	19.47%	25.31%	29.72%	31.38%	45.35%	60.23%	96.73%	118.56%	108.22%
Net Working Capital to Revenue	-22.62%	-13.37%	-4.64%	17.17%	11.50%	13.06%	24.14%	59.18%	58.56%	69.15%	70.38%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.49	$0.45	$0.38	$0.48	$0.66	$0.50	$0.50	$0.41	$0.19	($0.22)	($0.31)
Adjusted Weighted Average Basic Shares Outstanding	712M	735M	730M	740M	750M	763M	764M	764M	764M	764M	764M
Adjusted Diluted Earnings per Share	$0.49	$0.44	$0.38	$0.48	$0.66	$0.50	$0.50	$0.41	$0.19	($0.22)	($0.31)
Adjusted Weighted Average Diluted Shares Outstanding	713M	737M	731M	741M	752M	765M	766M	767M	766M	764M	764M
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	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	706.63M	715.93M	725.03M	736.43M	745.05M	753.62M	764.49M	764.45M	764.27M	764.27M	764.17M
Normalized Net Operating Profit after Tax (NOPAT)	537	513	455	521	713	568	547	484	293	-114	-120
Normalized NOPAT Margin	18.77%	17.71%	16.95%	18.89%	24.10%	19.49%	19.55%	19.06%	13.82%	-10.21%	-11.91%
Pre Tax Income Margin	16.46%	15.92%	15.03%	17.96%	20.28%	20.31%	20.43%	16.40%	9.20%	-25.69%	-31.84%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.40	3.24	2.88	3.24	3.91	3.78	3.46	2.62	1.57	-0.73	-0.96
NOPAT to Interest Expense	2.95	2.79	2.47	2.72	3.83	2.96	2.71	2.26	1.29	-0.58	-0.68
EBIT Less CapEx to Interest Expense	1.28	0.21	-0.13	1.70	2.83	2.07	1.83	1.69	0.81	-1.46	-1.86
NOPAT Less CapEx to Interest Expense	0.83	-0.25	-0.54	1.18	2.75	1.25	1.07	1.32	0.53	-1.31	-1.58
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	39.19%	33.68%	32.64%	31.38%	24.40%	21.31%	22.24%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	148.00%	133.56%	131.33%	101.77%	75.49%	56.60%	22.24%	0.00%	0.00%	0.00%	0.00%

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. See where experts think Las Vegas Sands is headed by visiting Las Vegas Sands' forecast page.

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%.

Related Companies

This page (NYSE:LVS) was last updated on 5/29/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Las Vegas Sands (LVS) Financials

Frequently Asked Questions About Las Vegas Sands' Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Las Vegas Sands (LVS) Financials

Annual Income Statements for Las Vegas Sands

Quarterly Income Statements for Las Vegas Sands

Annual Cash Flow Statements for Las Vegas Sands

Quarterly Cash Flow Statements for Las Vegas Sands

Annual Balance Sheets for Las Vegas Sands

Quarterly Balance Sheets for Las Vegas Sands

Annual Metrics And Ratios for Las Vegas Sands

Quarterly Metrics And Ratios for Las Vegas Sands

Frequently Asked Questions About Las Vegas Sands' Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools