Las Vegas Sands

Consumer Discretionary Casinos & Gaming Las Vegas, Nevada Last filing Feb 6, 2026 · FY2025

                    Revenue
                    FY2025
                
$13.0B
                    3y CAGR +46.9%
                    
                    P100
                    
                    +15.2%
                    
                    Net income
                    FY2025
                
$1.6B
                    Net margin +12.5%
                    
                    P76
                    
                    +12.5%
                    
                    Total assets
                    FY2025
                
$21.9B
                    ROA +7.4%
                    
                    P43
                    
                    +6.1%
                    
                    Operating cash flow
                    FY2025
                
$3.0B
                    FCF margin +14.3%
                    
                    P77
                    
                    -5.6%

18 yrs · FY2008–FY2025 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Each cell as a share of that year’s total assets.

Balance Sheet

Assets, liabilities, and equity

28 accounts · 10 years

Total assets $21.9B

Total liabilities $20.0B

Shareholders equity $1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash and Cash Equivalents	17.5%	17.7%	23.4%	28.6%	9.3%	10.1%	18.3%	20.7%	11.7%	10.4%
Accounts Receivable	3.4%	2.0%	2.2%	1.2%	1.0%	1.2%	3.6%	3.2%	3.0%	3.8%
Inventory	0.2%	0.2%	0.2%	0.1%	0.1%	0.1%	0.2%	0.2%	0.2%	0.2%
Prepaid Expenses	0.9%	0.9%	0.7%	0.6%	0.6%	0.5%	0.8%	0.6%	0.6%	0.7%
Total Current Assets	22.0%	20.8%	26.5%	30.6%	27.5%	27.4%	22.9%	24.7%	15.5%	15.1%
Property,Plant and Equipment	66.5%	67.7%	62.9%	61.6%	69.9%	69.9%	73.8%	72.5%	81.0%	83.6%
Intangible Assets	2.6%	2.6%	2.7%	0.3%	0.1%	0.1%	0.2%	0.3%	0.4%	0.5%
Deferred Tax Assets	0.7%	0.6%	0.6%	0.6%	1.5%	1.5%	1.2%	1.6%	2.4%	0.0%
Other Noncurrent Assets	8.1%	8.3%	7.3%	6.9%	1.1%	1.1%	2.0%	0.8%	0.7%	0.8%
Total Assets	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%
Liabilities
Accounts Payable	1.6%	2.1%	1.4%	1.3%	1.5%	2.0%	2.1%	1.6%	1.6%	2.5%
Accrued Liabilities	1.8%	1.1%	1.2%	0.6%	0.2%	0.4%	11.5%	11.9%	11.3%	10.4%
Current Portion of Long Term Debt	5.1%	15.3%	8.7%	9.2%	0.4%	0.4%	0.3%	0.5%	1.4%	0.8%
Other Current Liabilities	10.8%	9.6%	8.9%	6.6%	10.7%	10.7%	—	—	—	—
Total Current Liabilities	19.3%	28.1%	20.3%	17.7%	12.8%	13.5%	13.9%	14.0%	14.3%	13.7%
Long Term Debt	66.9%	51.3%	55.7%	63.3%	73.4%	66.9%	53.5%	52.7%	45.2%	46.1%
Deferred Tax Liabilities	0.8%	0.9%	0.9%	0.7%	0.9%	0.9%	0.8%	0.8%	1.0%	1.0%
Other Noncurrent Liabilities	4.3%	4.5%	4.3%	1.7%	1.8%	1.6%	3.7%	2.6%	2.7%	2.6%
Total Liabilities	91.2%	84.7%	81.2%	83.4%	88.8%	83.0%	72.0%	70.1%	63.1%	63.4%
Equity
Preferred Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Common Stock	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Additional Paid In Capital	28.1%	30.2%	29.8%	30.3%	33.1%	31.8%	28.3%	29.6%	31.8%	31.8%
Retained Earnings	20.0%	16.7%	11.9%	7.6%	-0.7%	3.9%	13.4%	12.3%	13.1%	10.9%
Treasury Stock	41.2%	32.7%	22.9%	20.3%	22.3%	21.5%	19.3%	16.5%	13.6%	11.9%
Accumulated Other Comprehensive Income	0.3%	-0.3%	0.1%	-0.0%	-0.1%	0.1%	-0.0%	-0.2%	0.1%	-0.6%
Total Stockholders Equity	7.3%	14.0%	18.9%	17.6%	10.0%	14.3%	22.4%	25.2%	31.4%	30.2%
Noncontrolling Interest	1.6%	1.3%	-0.1%	-1.0%	1.3%	2.7%	5.7%	4.7%	5.5%	6.4%
Total Liabilitiesand Equity	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%	100.0%

Income Statement

Revenue, expense, and profitability

16 accounts · 10 years

Revenue $13.0B

Operating income $2.8B

Net income $1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
IncomeStatement
Revenues Total Revenue	59.4%	54.7%	47.6%	18.6%	21.1%	14.1%	52.3%	60.9%	61.5%	55.7%
Expenses Research and Development	1.2%	1.1%	0.9%	0.6%	0.5%	0.1%	0.1%	0.1%	0.1%	0.0%
Expenses Selling,General and Administrative	5.4%	5.6%	5.1%	4.2%	4.1%	3.8%	4.8%	6.6%	6.8%	6.3%
Expenses Depreciation and Amortization	6.7%	6.3%	5.5%	4.7%	5.2%	4.8%	4.4%	4.9%	5.7%	5.4%
Expenses Other Operating Expenses	3.4%	2.1%	1.5%	1.5%	1.6%	1.9%	2.2%	1.8%	1.6%	31.8%
Other Income Expense Operating Income	12.9%	11.6%	10.6%	-3.6%	-3.4%	-6.7%	14.5%	16.6%	16.7%	12.2%
Other Income Expense Interest Expense	3.4%	3.5%	3.8%	3.2%	3.1%	2.5%	1.9%	2.0%	1.6%	1.3%
Other Income Expense Other Income/expense	0.6%	1.4%	1.3%	—	-0.8%	0.2%	2.9%	—	-0.4%	0.2%
Other Income Expense Income Before Tax	10.1%	9.5%	8.2%	-6.3%	-7.3%	-9.0%	15.5%	14.8%	14.8%	11.0%
Income Tax Income Tax Expense	1.6%	1.0%	1.6%	0.7%	-0.0%	0.1%	1.9%	1.7%	-1.0%	1.2%
net Income Other Items Below Tax	-1.1%	-1.5%	-1.0%	15.8%	2.5%	1.0%	-2.0%	-2.3%	-2.2%	-1.7%
net Income net Income	7.4%	7.0%	5.6%	8.3%	-4.8%	-8.1%	11.6%	10.7%	13.6%	8.2%
net Income Comprehensive Income	8.0%	6.6%	5.8%	8.4%	-5.0%	-7.9%	11.8%	10.5%	14.2%	7.9%
Earnings Per Share Basic Eps	0.0%	0.0%	0.0%	0.0%	-0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Diluted Eps	0.0%	0.0%	0.0%	0.0%	-0.0%	-0.0%	0.0%	0.0%	0.0%	0.0%
Earnings Per Share Weighted Average Shares Diluted	3.2%	3.6%	3.5%	3.5%	3.8%	3.7%	3.3%	3.5%	3.8%	3.9%

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 10 years

Operating cash flow $3.0B

Investing cash flow $-1.2B

Financing cash flow $-1.6B

Account	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CashFlow
Operating Activities net Income	8.5%	8.5%	6.6%	-7.0%	-7.3%	-9.1%	13.7%	13.1%	15.8%	9.9%
Operating Activities Depreciation and Amortization	7.3%	6.9%	6.1%	5.2%	5.7%	5.3%	4.7%	5.2%	6.0%	0.4%
Operating Activities Stock Based Compensation	0.2%	0.3%	0.2%	0.2%	0.1%	0.1%	0.2%	0.1%	0.2%	0.2%
Operating Activities Deferred Income Taxes	-0.3%	0.0%	0.2%	-3.4%	-0.2%	0.1%	0.6%	0.5%	-2.4%	0.1%
Operating Activities Changes In Operating Assets and Liabilities	-4.1%	0.8%	1.6%	0.6%	-0.4%	-2.6%	-0.8%	1.1%	1.6%	2.6%
Operating Activities Other Non Cash Items	1.6%	-0.2%	-0.0%	-0.0%	0.9%	0.5%	-3.9%	0.5%	0.8%	1.1%
Operating Activities net Cash From Operating Activities	13.8%	15.5%	14.8%	-4.3%	-1.2%	-5.7%	12.1%	20.8%	22.0%	19.8%
Investing Activities Capital Expenditures	-5.3%	-7.6%	-4.7%	-3.0%	-4.1%	-5.9%	-4.4%	-4.2%	-4.0%	-6.8%
Investing Activities Business Acquisitions	-0.3%	-0.1%	-1.1%	-0.6%	-0.1%	0.0%	-0.2%	0.0%	0.0%	-0.2%
Investing Activities Other Investing Activities	0.1%	0.0%	0.0%	0.3%	0.0%	0.0%	5.0%	0.1%	0.1%	0.0%
Investing Activities net Cash From Investing Activities	-5.6%	-7.6%	-5.8%	-3.3%	-4.1%	-5.9%	0.4%	-4.1%	-4.0%	-7.0%
Financing Activities Proceeds From Debt	30.9%	8.5%	0.0%	5.4%	13.5%	9.3%	17.2%	33.7%	3.2%	11.2%
Financing Activities Repayment of Debt	-22.4%	-10.0%	-9.5%	-0.3%	-10.0%	-2.2%	-0.2%	-23.0%	-4.1%	-9.7%
Financing Activities Repurchase of Common Stock	-10.1%	-8.5%	-2.3%	0.0%	0.0%	—	-3.3%	-4.0%	-1.8%	0.0%
Financing Activities Dividends Paid	-3.8%	-2.9%	-1.4%	0.0%	0.0%	-4.4%	-12.9%	-13.2%	-14.2%	-14.3%
Financing Activities Proceeds From Stock Issuance	1.2%	0.0%	0.0%	0.0%	0.1%	0.1%	0.2%	0.4%	0.2%	0.1%
Financing Activities Tax Withholding On Stock Based Compensation	-0.0%	-0.0%	-0.0%	-0.0%	0.0%	0.0%	—	—	—	—
Financing Activities Other Financing Activities	-3.3%	-1.9%	-1.4%	22.8%	0.7%	-1.1%	-15.4%	-0.6%	-0.0%	-0.2%
Financing Activities net Cash From Financing Activities	-7.5%	-14.8%	-14.6%	27.9%	4.3%	1.7%	-14.3%	-6.8%	-16.9%	-12.9%
Cash Reconciliation Effect of Exchange Rate On Cash	0.1%	-0.1%	0.0%	0.1%	-0.1%	-0.1%	0.1%	-0.1%	0.3%	-0.1%
Cash Reconciliation net Change In Cash	0.9%	-7.0%	-5.5%	20.5%	-1.1%	-10.1%	-1.8%	9.9%	1.4%	-0.2%

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 10 years

Ratio	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Profitability
Gross margin	—	—	—	—	—	—	—	—	—	—
Operating margin	+21.6%	+21.3%	+22.3%	-19.3%	-16.3%	-47.4%	+27.7%	+27.3%	+27.2%	+21.8%
Net margin	+12.5%	+12.8%	+11.8%	+44.6%	-22.7%	-57.3%	+22.2%	+17.6%	+22.1%	+14.6%
FCF margin	+14.3%	+14.5%	+21.3%	-38.8%	-25.3%	-82.2%	+14.7%	+27.3%	+29.1%	+23.2%
Growth
Revenue CAGR (3y)	+46.9%	+38.7%	+52.2%	-30.3%	-32.4%	-38.6%	+2.1%	+5.5%	-4.4%	-6.1%
Returns
ROE	+102.3%	+50.1%	+29.7%	+47.2%	-48.1%	-56.7%	+52.0%	+42.5%	+43.3%	+27.0%
ROA	+7.4%	+7.0%	+5.6%	+8.3%	-4.8%	-8.1%	+11.6%	+10.7%	+13.6%	+8.2%
ROIC	+17.6%	+16.5%	+14.3%	-5.8%	-4.6%	-9.4%	+22.0%	+25.6%	+25.3%	+16.3%
Liquidity
Current ratio	1.14x	0.74x	1.31x	1.73x	2.15x	2.03x	1.65x	1.76x	1.08x	1.10x
Quick ratio	1.09x	0.70x	1.26x	1.69x	0.81x	0.83x	1.58x	1.71x	1.03x	1.04x
Leverage
D/E	12.57x	6.07x	4.29x	4.74x	8.92x	5.81x	3.22x	2.78x	2.01x	2.10x
Interest coverage	3.78x	3.30x	2.83x	-1.13x	-1.11x	-2.66x	7.49x	8.41x	10.59x	9.10x
Efficiency
Asset turnover	0.59x	0.55x	0.48x	0.19x	0.21x	0.14x	0.52x	0.61x	0.62x	0.56x
Cash conversion cycle	—	—	—	—	—	—	—	—	—	—

Valuation

Price against fundamentals

FY2025 fundamentals · no price

No price data cached, so there is nothing to multiply. Load prices from the Stock Data tab and this panel reprices itself.

Notes

Your annotations

Not watched

Las Vegas Sands

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Assets, liabilities, and equity

Revenue, expense, and profitability

Operating, investing, and financing flows

Margins, returns, liquidity, leverage, efficiency

Price against fundamentals

Your annotations

One-year price and volume history

Price data unavailable

Recent price history