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Stocks / United States / LVS · Hotels & Motels · NYSE

LAS Vegas Sands Corp. (LVS)

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LAS Vegas Sands Corp. (LVS) reported revenue of $3.2 billion for Q2 FY2026, the quarter ended 30 June 2026, down 0.7% on the same quarter a year earlier. Net income was $346 million, down 24.9% on the year, and diluted earnings per share $0.53. The figures are the company's own, from the 10-Q it filed with the SEC on 24 July 2026.

Revenue$3.2 billiondown 0.7%
Net income$346 milliondown 24.9%
Diluted EPS$0.53
QuarterQ2 FY2026ended 30 June 2026

Ratios

From the filings

ROE297.2%
ROCE20.7%
Operating margin21.5%
Net margin12.6%
FCF margin19.7%
Interest cover3.90
Debt to equity23.57
Cash conversion2.16
Share count, 1 year-5.7%
Sales CAGR, 3 years46.9%
Profit CAGR, 3 years-3.9%
EPS, TTM$2.57

At the close of 21 September 2026

Price$40.26
Market cap$26.1 billion
Stock P/E15.67
Price to book44.90
EV / EBITDA8.30
Dividend yield2.5%
Market cap / sales1.90
52-week high$69.49
52-week low$39.98
Price, 1 year-25.3%
Price CAGR, 3 years-4.2%
Price CAGR, 5 years2.2%

Every figure is arithmetic on the filed lines (hover a name for the formula); the priced ones use the latest daily close, CBOE delayed quotes, daily history, by CBOE, for splits. Debt to equity here stands on the one borrowings figure LAS Vegas Sands Corp. files, which has finance leases inside it; operating leases are a separate line. Nothing here is a valuation or a view.

Price, 17 September 2021 to 21 September 2026

Daily closes from CBOE delayed quotes, daily history, by CBOE, for splits; the last is 21 September 2026. P/E is the close over the trailing four quarters' EPS as filed at each filing date, on the current share count; the dashed line is the median over the range shown. Sales and margin are quarterly revenue and the operating margin from the tables above. EV/EBITDA, price to book and market cap to sales use the latest filed balance sheet and share count at each date. Drawn in your browser; the range and overlay you pick are remembered here only.

The public record on LVS

Filings17 in twelve months: 10 current reports (8-K), about 4 results of operations; 3 other events; 2 officer or director change; 1 shareholder vote; 1 material agreement
Planned insider sales16 Form 144 notices in twelve months, $349.5 million; latest 27 May 2026
Options tapeput/call 0.48 by open interest on 23 September 2026; the straddle prices a 2.9% move to 25 September 2026
Holders10 of the followed funds hold it; largest Geode Capital Management; 2 Schedule 13D or 13G filings in twelve months
Insider trading30 sales and 0 purchases on Form 4 in twelve months
Congress0 House trades disclosed in six months
Short interest17.7 million shares short, 3.74 days to cover at 31 August 2026
Documentsthe 10-K, the 10-Qs, the proxy and 4 earnings press releases, each linked

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026
Revenue2,7952,9152,9592,7612,6822,8962,8623,1753,3313,6493,5853,154
R&D44.065.053.061.055.059.069.069.072.059.041.043.0
SG&A290287286268293303273292308315302331
Operating income688710717591504590609783719707904618
Operating margin25%24%24%21%19%20%21%25%22%19%25%20%
Interest expense200190182186179180174194187191188189
Pre-tax income571592600496403461471609582551748461
Tax rate21%21%3%15%12%15%13%15%16%19%14%19%
Net income380382494353275324352461419395567346
Net margin14%13%17%13%10%11%12%15%13%11%16%11%
Diluted EPS$0.50$0.50$0.66$0.48$0.38$0.45$0.49$0.66$0.61$0.58$0.85$0.53
Operating cash flow8391,0067148147619155261781,1151,204731682
Capital expenditure330325196285539547379286229274194332
Free cash flow509681518529222368147-108886930537350
Buybacks0.0505450400450450416800500501753788
Dividends paid153152151148146145179246239169202328
Shares outstanding764m753m745m736m725m716m707m687m678m675m663m648m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q

Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Profit and loss, 12 fiscal years and the trailing twelve months

FY2014 FY2015 FY2016 FY2017 FY2018FY2019 FY2020 FY2021FY2022FY2023FY2024FY2025TTM
Revenue14,58411,68811,27112,72813,72912,1272,9404,2344,11010,37211,29813,01713,719
Research and development14.010.09.013.012.024.018.0109143205228269215
Selling, general and administrative1,2581,2671,2871,4151,4831,1187988319361,1071,1501,1881,256
Operating income4,0992,8412,5023,4623,7513,365-1,393-689-7922,3132,4022,8182,948
Operating margin28.1%24.3%22.2%27.2%27.3%27.7%-47.4%-16.3%-19.3%22.3%21.3%21.6%21.5%
Interest expense274265274327446449523621702818727746755
Pre-tax income3,8332,6222,2643,0523,3263,600-1,876-1,474-1,3871,7751,9602,2132,342
Income tax245236239-20937543224.0-5.0154344208347389
Effective tax rate6.4%9.0%10.6%-6.8%11.3%12.0%n/an/an/a19.4%10.6%15.7%16.6%
Net income2,8411,9661,6792,8062,4132,698-1,685-9611,8321,2211,4461,6271,727
Net margin19.5%16.8%14.9%22.0%17.6%22.2%-57.3%-22.7%44.6%11.8%12.8%12.5%12.6%
Diluted EPS$3.52$2.47$2.10$3.54$3.07$3.50-$2.21-$1.26$2.40$1.60$1.96$2.35$2.57
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Income statement lines from each year's 10-K, the year linked to its filing; TTM is the sum of the last four quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. † The year as the company last restated it in a later filing; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

FY2014 FY2015 FY2016 FY2017 FY2018FY2019 FY2020 FY2021FY2022FY2023FY2024FY2025TTM
Operating cash flown/an/a4,0444,5434,7013,038-1,312n/an/a3,2273,2043,0233,732
Capital expenditure1,1791,5291,3988379491,0181,2278286511,0171,5671,1681,029
Free cash flown/an/a2,6463,7063,7522,020-2,539n/an/a2,2101,6371,8552,703
Free cash flow marginn/an/a23.5%29.1%27.3%16.7%-86.4%n/an/a21.3%14.5%14.3%19.7%
Depreciation and amortisation1,0329991,1111,1711,1111,0209971,0411,0361,2081,3081,4641,438
Share-based compensation48.146.034.034.030.035.022.022.039.044.055.054.080.0
Buybacks1,6772050.03759057540.00.00.05051,7502,2172,542
Dividends paidn/a2,7072,9242,9432,9793,0009110.00.0305590833938
Dividend per share$2.00$2.60$2.88$2.92$3.00$3.08$0.79n/an/a$0.40$0.80$1.00n/a
Diluted shares, weighted808m798m795m792m786m771m764m764m764m765m737m693m656m
Shares outstanding at period end798m795m795m789m775m764m764m764m764m753m716m675m648m
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

Buybacks and dividends are the cash paid in the year, from the cash flow statement; the dividend per share is as declared. Diluted shares are the weighted average for the year; a falling count is the buybacks net of issuance. TTM sums the last four quarters; the share counts are the latest quarter's.

Balance sheet at year end

FY2014 FY2015 FY2016 FY2017 FY2018FY2019 FY2020 FY2021FY2022FY2023FY2024FY2025TTM
Total assets22,20720,86320,46920,68722,54723,19920,80720,05922,03921,77820,66621,92019,909
Cash and equivalents3,5062,1792,1282,4194,6484,2262,0821,8546,3115,1053,6503,8413,376
Receivables1,5111,268776615726844252202267484417742622
Inventory41.743.046.037.035.037.022.022.028.038.041.046.046.0
Goodwilln/an/an/an/an/an/an/an/a10.0103102103n/a
Total debt, as filedn/an/an/an/a12,06912,57714,12014,92416,06014,09013,68915,770n/a
Long-term debt including finance leases9,8939,2499,4289,34411,87412,42213,93114,72113,94712,12910,59214,65613,694
Borrowings, as the company tags them9,9809,4569,7039,72412,08012,58014,12014,90016,06014,09013,68915,77015,252
Operating lease liabilitiesn/an/an/an/an/a305153154157252172167n/a
Finance lease liabilitiesn/an/an/an/an/a9.010.015.013.09.0118139n/a
Shareholders' equity7,2146,8176,1776,4935,6845,1872,9731,9963,8814,1182,8841,590581
Filing10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K10-K

At the fiscal year end; the TTM column is the latest quarter end. A line the company does not tag under the usual name is left out.

Compounded growth

10 years5 years3 yearsTTM
Sales growth, compounded1.1%34.7%46.9%18.1%
Profit growth, compounded-1.9%n/a-3.9%22.3%
Return on equity, average28.9%36.2%60.7%102.3%

Compounded growth is the latest fiscal year over the year that many years earlier, annualised; the TTM column is the last four quarters over the four before. Return on equity is net income over shareholders' equity at each year end, averaged over the window (the TTM column is the latest year alone); equity is the parent's shareholders' equity as tagged in the 10-K. Arithmetic on filed numbers, nothing forecast.

Peers: Hotels & Motels

CompanyMarket capP/EROEOp. marginSales growth
TTM
Debt to equityDiv. yield
Marriott International Inc. /Md/ MAR$89.4 billion35.44n/a15.8%4.7%n/a0.8%
Hilton Worldwide Holdings Inc. HLT$69.3 billion45.09n/a23.3%8.7%n/a0.2%
LAS Vegas Sands Corp. LVS$26.1 billion15.67297.2%21.5%18.1%23.572.5%
MGM Resorts International MGM$9.7 billion23.3316.9%5.7%3.2%2.410.0%
Wynn Resorts Ltd. WYNN$8.6 billion19.98n/a15.7%6.4%n/a1.2%

The names on this site in the same industry (the SEC's SIC description), by market capitalisation. Each figure is the same arithmetic as the ratio box above, on each company's own filings and latest close.

Filings

FilingPeriodFiledWhere
10-Q30 June 202624 July 2026EDGAR
10-Q31 March 202624 April 2026EDGAR
10-K31 December 20256 February 2026EDGAR
10-Q30 September 202524 October 2025EDGAR
10-Q30 June 202525 July 2025EDGAR
10-Q31 March 202525 April 2025EDGAR
10-K31 December 20247 February 2025EDGAR
10-Q30 September 202425 October 2024EDGAR
10-Q30 June 202426 July 2024EDGAR
10-Q31 March 202419 April 2024EDGAR

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