— Know what they know.
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Not Investment Advice

LVS

NYSE · USD
Las Vegas Sands Corp.
Consumer Cyclical · Gambling, Resorts & Casinos
CEO Patrick Sydney Dumont Employees 41,000 R&D / revenue 0.0%
Last price
$38.01−0.81%last session
Market cap
$24.6B
P/E (TTM)
14.7x
From 52w high
−46.0%
From 52w low
+7.7%
1-year return
−22.4%
RSI 14 · vs SMA200
43.7 · −24.2%
IS score
68.8/ 100
Factor model across 8 sub-scores, ranked against 3,010 US stocks. Describes the business, not the outlook.
Download full factsheet (PDF)

One year, rebased to 100

LVS   SPY   XLY (sector ETF) · weekly closes
80100120140Jan 26Apr 26Jul 26Oct 26SPY 116XLY 97LVS 78

Score DNA

Each bar is a 0-100 score within the scored universe
67
Profitability
86
Growth
51
Value
95
Momentum
65
Risk (safety)
61
Quality
43
Balance sheet
77
Earnings quality

Flags

Strengths
✓ FCF yield 5%+✓ Congress buying
Warnings
None of the computed warning flags fires for LVS (Altman, Beneish, accruals, FCF, dilution).
Observations
Moat model: Narrow, Intangible AssetsPiotroski 7 / 9Altman Z 2.5Beta 0.822 of 4 smart-money sources active

Smart-money strip

Each disclosure source on its own window. Filings coinciding is not coordination.
INSForm 4 · 180 days
Insider open-market buys
0
1 open-market sales, $616,626
Form 144 notices (12m): 16, $349.5M proposed, not confirmed sales
CONGSTOCK Act · 180 days
Congressional purchases
2
Last disclosed purchase 2026-09-25
Members disclose in ranges, 30-45 days after the trade
13F13F · quarter to 2026-06-30
Net change in institutional holders
−53
73 new holders, 118 closed
713 filers hold 41.1% · 256 added, 299 trimmed
ETFETF holdings · 30 days
Net funds accumulating
−26
773 funds adding shares
799 funds trimming · counts of funds, not dollars
DARKFINRA · daily
Short-sale share of off-exchange volume
41.0%
20-day avg 54.9%, 50-day avg 53.6%
Latest 13.9 pp under its 20-day average · a flow, not short interest

Key financials · FY2025

USD, fiscal year. Stock-based compensation is non-cash; shown against FCF.
Income statement
Revenue$13.0B
Revenue growth YoY+15.2%
Gross margin28.2%
Operating income$3.1B
Operating margin23.7%
Net income$1.6B
Net margin12.5%
EPS (diluted)$2.35
Cash flow
Operating cash flow$2.8B
Capital expenditure$1.2B
Free cash flow$1.7B
FCF conversion (FCF / OCF)58.6%
Stock-based compensation$54.0M
FCF less SBC$1.6B
Buybacks$2.2B
Dividends$833.0M
Balance sheet & returns
Cash & short-term investments$3.8B
Total debt$15.8B
Net debt$12.0B
Shareholders' equity$1.9B
Goodwill & intangibles$573.0M
Debt / equity26.27
ROE (TTM)142.0%
ROIC (TTM)17.0%
Operating margin by fiscal year
-15.2%FY2021-18.7%FY202222.7%FY202321.8%FY202423.7%FY2025
Revenue $4.2B (FY2021) to $13.0B (FY2025), a 32.4% CAGR.

Valuation

P/E (TTM)14.7x
EV / EBITDA7.9x
Price / sales1.79x
Price / FCF8.8x
FCF yield11.32%
Buyback yield9.01%
SBC / revenue0.5%
Price / book43.24x
Forward P/E FY202612.3x
Forward P/E FY202710.9x
Forward P/E FY202810.4x
Forward multiples divide today's price by Street EPS estimates. Street mean target $59.13 across 8 analysts last quarter is theirs, not ours.

LVS vs industry median

107 companies in Gambling, Resorts & Casinos
Gross margin 50.9% 46.9% Operating margin 23.3% 9.2% Net margin 12.8% 1.8% ROIC 17.0% 9.9%
LVS (TTM)Industry median Asset turnover 0.69 vs industry 0.53 · financial leverage 34.27

Earnings delivery

Next report 2026-10-21 · consensus EPS $0.72
58%
beat rate, 7 of 12 quarters
+2.9%
median EPS surprise
5
longest beat streak
+2-7+21-2-17-6+4+49+26+11+20-22
EPS surprise in % vs the consensus at the time, oldest (left) to newest, 2023-10-18 to 2026-07-22. Bars cap at ±60%.

Peers

Market-cap band, not the industry cohort above
CompanyMkt capP/EROENet marginRev growth12m return
LVS Las Vegas Sands Corp. $24.6B14.7x142.0%12.8%+15.2% −22.4%
FLUT Flutter Entertainment plc $13.1Bn/m-7.6%-6.3%+15.2% −69.8%
DKNG DraftKings Inc. $9.4Bn/m-21.1%-4.7%+15.0% −46.3%
LNW Light & Wonder, Inc. $8.4B17.8x89.4%14.5%−6.4% +13.0%
WYNN Wynn Resorts, Limited $7.8B17.3x-146.9%7.5%+6.4% −34.6%
MGM MGM Resorts International $7.2B17.1x15.5%6.6%+3.2% —
CZR Caesars Entertainment, Inc. $5.9Bn/m-12.8%-2.1%+2.4% —
CHDN Churchill Downs Incorporated $5.7B14.0x34.4%24.6%+5.7% —
12-month window: SPY +15.9%, sector ETF XLY −3.2%. Past returns describe history only.

Recent 8-K filings

2026-07-22Earnings Release; Exhibits
2026-05-18Shareholder Vote
2026-05-13Material Agreement; Financial Obligation; Exhibits
2026-05-05Other Events; Exhibits
2026-04-22Earnings Release; Exhibits
2026-03-05Departure/Election of Directors; Appointment of Officers

Context

Shares outstanding647,701,184
Free float44.9%
Institutional ownership41.1%
Beta0.82
Dividend yield3.03%
Last dividend$0.30 on 2026-08-04
50 / 200-day average$41.89 / $50.37
Large-cap Consumer Cyclical median P/E24.3x

Full factsheet

The PDF carries everything on this page plus the cash-allocation waterfall, Form 144 notices, 13F holder detail, dark-pool and short-flow history, seasonality and the moat assessment (Narrow).

Read it in the browser Download (PDF)

All fundamentals · 140 measures in 13 categories

Percentile = where LVS sits among 19 scored companies in Gambling, Resorts & Casinos (0 = lowest value, 100 = highest). It is a position, not a grade.
ValuationProfitability (TTM)Returns on capitalGrowthMargin history & stabilityLiquidity (latest quarter)Leverage & solvency (latest quarter)EfficiencyCash flow & earnings qualityDividends & buybacksScores & forensic checksPer shareSize (TTM)

Valuation

MeasureLVSIndustry medianIndustry percentileSector median
P/E (TTM) 14.0x 15.8x
33rd		 17.7x
PEG (P/E ÷ 3-yr EPS CAGR) 0.06 0.98
25th		 0.96
Price / sales 1.8x 1.1x
72nd		 1.0x
Price / book 42.4x 3.1x
100th		 2.4x
Price / tangible book —
Price / free cash flow 8.8x 13.2x
31st		 15.2x
Price / operating cash flow 6.6x 7.2x
44th		 10.2x
Enterprise value $36.5B $8.0B
100th		 $5.6B
EV / sales 2.7x 2.2x
72nd		 1.4x
EV / EBITDA 7.9x 9.1x
31st		 11.4x
EV / EBIT 11.8x 12.1x
46th		 16.0x
EV / free cash flow 13.1x 22.8x
19th		 21.0x
Earnings yield 7.1% 5.8%
78th		 4.8%
FCF yield 11.3% 6.6%
72nd		 5.9%
Operating cash flow yield 15.2% 12.3%
61st		 9.3%
Graham number (per share) $7.22 $13.71
30th		 $33.39

Profitability (TTM)

MeasureLVSIndustry medianIndustry percentileSector median
Gross margin 50.9% 38.6%
94th		 34.2%
EBITDA margin 33.7% 25.2%
78th		 11.7%
Operating margin 23.3% 14.8%
83rd		 8.7%
EBIT margin 22.6% 15.2%
78th		 8.2%
Net margin 12.8% 4.5%
78th		 4.9%
NOPAT margin 21.2% 12.2%
89th		 6.8%
FCF margin 20.3% 9.9%
83rd		 6.5%
Operating cash flow margin 27.3% 13.4%
89th		 10.4%
R&D / revenue 1.3% 0.0%
83rd		 0.0%
SG&A / revenue 8.0% 18.5%
6th		 17.2%
Stock comp / revenue 0.5% 0.7%
28th		 0.6%
Effective tax rate 9.1% 21.0%
11th		 22.4%

Returns on capital

MeasureLVSIndustry medianIndustry percentileSector median
ROE (on average equity) 136.4% 20.7%
100th		 12.8%
ROA 8.4% 3.1%
83rd		 4.4%
ROIC 23.4% 9.3%
89th		 9.3%
ROCE 19.9% 10.3%
78th		 9.9%
Return on tangible assets 14.8% 8.5%
78th		 7.4%
Cash ROIC (OCF / invested capital) 30.0% 13.3%
82nd		 14.4%
Gross profitability (GP / assets) 31.5% 22.5%
72nd		 31.6%
ROIC, 3-yr average 14.0% 6.7%
88th		 7.4%
ROIC, 5-yr average 7.4% 7.5%
46th		 9.1%
ROE, 5-yr average 78.1% 23.6%
93rd		 15.8%
Incremental ROIC -82.7% -18.7%
18th		 11.2%

Growth

MeasureLVSIndustry medianIndustry percentileSector median
Revenue growth (TTM YoY) 18.1% 6.1%
82nd		 6.0%
Revenue growth (QoQ) -12.0% 3.7%
11th		 6.6%
Revenue CAGR, 3 yr 26.5% 8.1%
82nd		 3.0%
Revenue CAGR, 5 yr 29.1% 20.0%
88th		 5.9%
Gross profit CAGR, 3 yr 44.5% 3.0%
100th		 3.3%
Operating income CAGR, 3 yr 73.9% 2.8%
83rd		 2.1%
Net income growth (TTM YoY) 24.2% 25.4%
45th		 4.7%
Net income CAGR, 3 yr 213.4% 6.6%
89th		 1.4%
EPS growth (TTM YoY) 30.4% 39.4%
45th		 7.6%
EPS CAGR, 3 yr 229.0% 14.2%
89th		 3.4%
EPS CAGR, 5 yr —
FCF growth (TTM YoY) 407.8% 44.7%
100th		 26.3%
FCF CAGR, 3 yr 147.0% 8.6%
100th		 6.5%
Operating cash flow CAGR, 3 yr 49.1% 6.0%
92nd		 6.7%
Book value CAGR, 3 yr -46.3% -4.3%
0th		 8.1%
Dividend CAGR, 3 yr -0.5% 4.5%
11th		 3.2%
Sustainable growth rate 89.0% 20.8%
80th		 12.2%

Margin history & stability

MeasureLVSIndustry medianIndustry percentileSector median
Gross margin, 3-yr average 39.4% 41.1%
35th		 34.9%
Operating margin, 3-yr average 23.1% 15.0%
88th		 8.0%
Net margin, 3-yr average 13.0% 3.6%
82nd		 4.8%
FCF margin, 3-yr average 14.8% 8.6%
94th		 5.7%
Revenue stability (0-1) 0.94 0.90
71st		 0.80
Earnings stability (0-1) 0.89 0.29
88th		 0.43
Margin stability (0-1) 0.57 0.90
0th		 0.92

Liquidity (latest quarter)

MeasureLVSIndustry medianIndustry percentileSector median
Cash & short-term investments $3.4B $548.0M
100th		 $278.1M
Net cash (− = net debt) −$11.9B −$3.9B
11th		 −$1.2B
Working capital −$14.0M −$14.0M
50th		 $298.0M
Current ratio 1.00 1.00
50th		 1.49
Quick ratio 0.99 0.98
56th		 0.92
Cash ratio (cash + ST investments / current liabilities) 0.78 0.59
72nd		 0.31
Defensive interval (days) 473 days 305 days
78th		 290 days

Leverage & solvency (latest quarter)

MeasureLVSIndustry medianIndustry percentileSector median
Total debt $15.3B $4.4B
89th		 $1.8B
Debt / equity 26.27 3.57
100th		 1.04
Net debt / equity 20.46 2.97
100th		 0.78
Debt / assets 76.7% 55.1%
78th		 39.7%
Debt / capital 96.3% 78.1%
100th		 51.0%
Debt / EBITDA 3.30 4.63
31st		 3.26
Net debt / EBITDA 2.57 4.27
31st		 2.42
Interest coverage (EBIT / interest) 4.1x 2.2x
82nd		 5.1x
Cash interest coverage 5.0x 2.7x
71st		 6.0x
Debt payback (years of OCF) 4.1 yrs 6.0 yrs
31st		 3.8 yrs
Liabilities / assets 95.5% 81.5%
89th		 68.1%
IS credit model rating BBB- — —
Implied credit spread (bps) 350 750
28th		 275

Efficiency

MeasureLVSIndustry medianIndustry percentileSector median
Asset turnover 0.66 0.57
67th		 1.00
Fixed asset turnover 1.20 1.11
61st		 3.73
Inventory turnover 173.3 66.4
100th		 5.3
Receivables turnover 24.4 28.8
39th		 19.9
Days sales outstanding 15 days 13 days
61st		 18 days
Days inventory outstanding 2 days 6 days
0th		 68 days
Days payables outstanding 8 days 18 days
17th		 42 days
Cash conversion cycle (days) 9 days −4 days
72nd		 44 days
Capex / revenue 7.0% 5.5%
71st		 3.1%
Capex / depreciation 0.63 0.52
59th		 0.89
Operating expense ratio 37.6% 22.7%
89th		 24.8%

Cash flow & earnings quality

MeasureLVSIndustry medianIndustry percentileSector median
Operating cash flow / net income 2.13 2.63
42nd		 1.76
FCF / net income 1.59 1.73
42nd		 1.18
FCF / operating cash flow 74.5% 66.0%
60th		 70.1%
Capex / operating cash flow 25.5% 34.0%
40th		 29.9%
Accruals ratio -9.5% -7.0%
22nd		 -5.7%
Sloan accruals ratio -11.0% -6.1%
6th		 -3.6%
Earnings quality score (0-1) 0.75 0.75
17th		 0.75

Dividends & buybacks

MeasureLVSIndustry medianIndustry percentileSector median
Dividend yield 3.0% 0.5%
78th		 0.8%
Dividend per share (TTM) $1.15 $0.44
78th		 $0.40
Payout ratio (dividends / net income) 34.8% 7.7%
67th		 17.8%
Dividends / FCF 21.9% 2.3%
67th		 11.6%
Dividend growth (YoY) -10.6% 2.7%
22nd		 4.8%
Buyback yield 7.1% 3.4%
72nd		 1.6%
Shareholder yield (dividends + buybacks) 9.6% 4.5%
83rd		 3.7%
Share count change (YoY) -4.7% -2.9%
35th		 -0.9%
Buybacks, last 5 years $7.0B $579.5M
100th		 $198.3M

Scores & forensic checks

MeasureLVSIndustry medianIndustry percentileSector median
IS score 69 44
83rd		 50
IS profitability 67 39
78th		 38
IS growth 86 62
100th		 53
IS value 51 47
67th		 50
IS momentum 95 69
94th		 72
IS risk (safety) 65 30
72nd		 65
IS quality 61 54
67th		 63
IS balance sheet 43 25
72nd		 48
IS earnings quality 77 73
61st		 77
IS cash flow 74 54
72nd		 56
Piotroski F-score (0-9) 7 6
61st		 6
Altman Z-score 2.5 1.5
72nd		 2.8
Beneish M-score −3.07 −2.78
24th		 −2.69
Ohlson O-score −5.76 −5.81
56th		 −6.83
IS credit score 52 30
72nd		 58

Per share

MeasureLVSIndustry medianIndustry percentileSector median
EPS, diluted (TTM) $2.65 $0.70
67th		 $2.05
Book value per share $0.88 $6.72
11th		 $14.46
Tangible book per share $0.56 −$9.74
83rd		 $3.70
Revenue per share $20.69 $42.74
33rd		 $46.29
FCF per share $4.21 $2.59
61st		 $2.72
Operating cash flow per share $5.64 $5.64
50th		 $4.86
Cash per share $5.09 $5.09
50th		 $3.59

Size (TTM)

MeasureLVSIndustry medianIndustry percentileSector median
Market cap $24.6B $5.2B
100th		 $3.6B
Revenue $13.7B $4.1B
89th		 $3.9B
EBITDA $4.6B $780.5M
100th		 $442.3M
Net income $1.8B $147.5M
94th		 $178.6M
Free cash flow $2.8B $325.5M
100th		 $206.3M
Total assets $19.9B $7.5B
83rd		 $4.4B
Shareholders' equity $581.0M $644.8M
44th		 $957.6M
Employees 41,250 11,700
89th		 12,300

Insider transactions, last 6 months

Form 4 · most recent 12
DateInsiderTypeSharesPriceValueOwned after
2026-08-31Adelson Miriam
10 percent owner
 Gift 1,077,046——0
2026-06-16Adelson Miriam
10 percent owner
 Gift 87,718,918——0
2026-06-16Adelson Miriam
10 percent owner
 Gift 43,859,460——43,859,460
2026-06-16Adelson Miriam
10 percent owner
 Gift 43,859,459——43,859,459
2026-05-14Pant Muktesh
Director
 Award / grant 3,948——8,694
2026-05-14Besca Mark
Director
 Award / grant 3,948——8,694
2026-05-14Chafetz Irwin
Director
 Award / grant 3,948——74,897
2026-05-14Li Alain
Director
 Award / grant 3,948——12,931
2026-05-14Kramer Lewis
Director
 Award / grant 3,948——31,336
2026-05-14Forman Charles D
Director
 Award / grant 3,948——180,376
2026-05-14Chau Micheline
Director
 Award / grant 3,948——35,293
2026-04-27Forman Charles D
Director
 Open-market sale 11,400$54.09$616,626176,428

Shares acquired vs disposed, by month

acquired disposed · all Form 4 types
MarAprMayJunAug

By transaction type, 6 months

TypeDirectionFilingsSharesValue
Award / grantAcquired10288,512—
GiftDisposed288,795,964—
GiftAcquired287,718,919—
Open-market saleDisposed111,400$616,626
Awards, option exercises and tax withholding are compensation mechanics; open-market buys and sales are the discretionary ones.

Form 144 notices

12 months: 16 notices · 5,503,618 shares · $349.5M
FiledFilerShares proposedEst. proceeds
2026-05-27Robert G. Goldstein250,000$12.8M
2026-04-27Charles D. Forman11,400$620,958
2026-03-17Dumont Patrick60,165$3.3M
2025-12-16Adelson Miriam77,991$5.3M
A Form 144 is notice of a proposed sale, not a confirmed one.

Congress trades

12 months: House 6 trades (2 purchases) · Senate 0 (0 purchases)
TradedMemberChamberTypeAmountDisclosed
2026-09-25Ro KhannaHousePurchase$1,001 - $15,0002026-10-09
2026-09-11Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-09-04Ro KhannaHouseSale$1,001 - $15,0002026-10-09
2026-08-10Ro KhannaHousePurchase$1,001 - $15,0002026-09-07
2019-03-11Shelley Moore CapitoSenateSale (Full)$1,001 - $15,0002019-04-17
2019-03-11Shelley Moore CapitoSenateSale (Full)$1,001 - $15,0002019-04-16
2019-03-11Shelley Moore CapitoSenateSale (Full)$1,001 - $15,0002019-04-16
2017-09-08Shelley Moore CapitoSenatePurchase$1,001 - $15,0002017-10-06
STOCK Act disclosures, in ranges, filed up to 45 days after the trade.

Largest 13F holders

Quarter to 2026-06-30, the latest most managers have filed
ManagerSharesValue% of shares out
BlackRock, Inc.24,844,440$1.1B3.84%
VANGUARD CAPITAL MANAGEMENT LLC19,446,065$898.2M3.00%
VANGUARD PORTFOLIO MANAGEMENT LLC18,645,697$861.2M2.88%
STATE STREET CORP15,159,570$700.2M2.34%
PRICE T ROWE ASSOCIATES INC /MD/11,184,424$516.6M1.73%
D. E. Shaw & Co., Inc.9,052,131$418.1M1.40%
Invesco Ltd.8,851,302$408.8M1.37%
GEODE CAPITAL MANAGEMENT, LLC8,204,874$377.5M1.27%
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP7,384,543$341.1M1.14%
Bank of New York Mellon Corp6,574,802$303.7M1.02%
Allianz Asset Management GmbH4,617,148$213.3M0.71%
DIMENSIONAL FUND ADVISORS LP3,840,468$177.4M0.59%
BAMCO INC /NY/3,784,278$174.8M0.58%
NORGES BANK3,738,233$172.7M0.58%
Amundi3,281,533$151.6M0.51%

Institutional ownership by quarter

2023-092026-0641.1%
% of shares held by 13F filers
2023-092026-06713
Number of 13F filers holding

Holder changes by quarter

QuarterHoldersOwnershipNewIncreasedReducedClosed
2026-06-3071341.1%73256299118
2026-03-3176640.5%92306263117
2025-12-3180641.7%19028523753
2025-09-3068242.2%13921622662
2025-06-3061246.5%9020024798
2025-03-3162848.0%109234210108
2024-12-3163852.3%12321621982
2024-09-3061150.9%91200244106
2024-06-3062951.9%80228227109
2024-03-3166951.0%8724123293
2023-12-3168451.7%11827719869
2023-09-3064545.1%78216250114

Schedule 13D / 13G filers

FiledFormFiler% of classShares
2026-08-11SCHEDULE 13D/AMiriam Adelson52.7%341,442,911
2026-08-11SCHEDULE 13D/AIrwin Chafetz52.2%337,960,838
2026-08-11SCHEDULE 13D/AQSST M-II Trust6.8%43,859,459
2026-06-18SCHEDULE 13D/AIrwin Chafetz51.0%337,960,838
Required above 5% of a class; 13G is the passive form.

ETFs with the largest holding

ETFWeight in fundHolding value
VITSX0.01%$310.9M
VSMPX0.01%$310.9M
VTSAX0.01%$310.9M
VTI0.01%$310.9M
VFINX0.01%$256.9M
VFIAX0.01%$256.9M

Share structure

Shares outstanding647,701,184
Float290,705,765
Free float44.9%

Income statement

Fiscal years, USD
FY2021FY2022FY2023FY2024FY2025
Revenue$4.2B$4.1B$10.4B$11.3B$13.0B
Cost of revenue$3.7B$3.5B$6.5B$7.1B$9.3B
Gross profit$567.0M$614.0M$3.9B$4.2B$3.7B
R&D$0$0$0$0$0
SG&A$1.2B$1.4B$1.5B$1.7B$579.0M
Operating income−$643.0M−$770.0M$2.4B$2.5B$3.1B
EBITDA$188.0M$351.0M$3.9B$4.1B$4.5B
Pretax income−$1.5B−$1.4B$1.8B$2.0B$2.2B
Income tax−$5.0M$154.0M$344.0M$208.0M$347.0M
Net income−$961.0M−$1.0B$1.2B$1.4B$1.6B
EPS, diluted$-1.51$-1.40$1.60$1.96$2.35
Diluted shares764.0M764.0M765.0M737.0M693.0M

Balance sheet

FY2021FY2022FY2023FY2024FY2025
Cash & short-term investments$1.9B$6.3B$5.1B$3.6B$3.8B
Receivables$202.0M$267.0M$484.0M$417.0M$742.0M
Inventory$22.0M$28.0M$38.0M$41.0M$46.0M
Total current assets$5.5B$6.7B$5.8B$4.3B$4.8B
PP&E, net$14.0B$13.6B$13.7B$14.0B$11.7B
Goodwill & intangibles$19.0M$64.0M$598.0M$545.0M$573.0M
Total assets$20.1B$22.0B$21.8B$20.7B$21.9B
Accounts payable$77.0M$89.0M$167.0M$164.0M$190.0M
Total current liabilities$2.6B$3.9B$4.4B$5.8B$4.2B
Long-term debt$14.7B$13.9B$12.1B$10.6B$14.7B
Total liabilities$17.8B$18.4B$17.7B$17.5B$20.0B
Shareholders' equity$2.2B$3.7B$4.1B$3.2B$1.9B

Cash flow statement

Outflows are negative
FY2021FY2022FY2023FY2024FY2025
Net income−$1.5B−$1.5B$1.4B$1.8B$1.9B
Depreciation & amortization$1.1B$1.1B$1.3B$1.4B$1.5B
Stock-based compensation$22.0M$39.0M$44.0M$55.0M$54.0M
Change in working capital−$89.0M$164.0M$390.0M$19.0M−$784.0M
Operating cash flow$15.0M−$795.0M$3.2B$3.2B$2.8B
Capital expenditure−$839.0M−$780.0M−$1.3B−$1.6B−$1.2B
Free cash flow−$824.0M−$1.6B$2.0B$1.6B$1.7B
Investing cash flow−$895.0M$4.2B−$1.3B−$1.6B−$1.7B
Net debt issued / repaid$835.0M$1.1B−$2.1B−$326.0M$1.9B
Buybacks$0−$1.0M−$507.0M−$1.8B−$2.2B
Dividends paid$0$0−$305.0M−$590.0M−$833.0M

Ratio history

Margins on the fiscal-year (TTM at Q4) basis; multiples at each year end
FY2021FY2022FY2023FY2024FY2025
Gross margin13.4%14.9%37.9%36.8%36.0%
Operating margin-15.2%-18.7%22.7%21.8%23.7%
Net margin-22.7%-24.8%11.8%12.8%12.5%
FCF margin-19.3%-38.3%19.0%14.4%14.3%
ROE-38.7%-34.7%30.5%41.3%72.7%
ROIC-3.4%-4.5%14.6%17.0%18.8%
ROA-4.7%-4.8%5.6%6.8%7.6%
Debt / equity7.414.123.414.7710.15
Interest coveragen/mn/m3.2x3.7x4.0x
Current ratio2.151.731.310.741.14
Revenue growth+44.0%−2.9%+152.4%+8.9%+15.2%
EPS growth+43.0%−6.1%+220.3%+22.1%+22.3%
P/E at year endn/mn/m29.5x25.6x27.1x
EV / EBITDA at year end214.9x127.4x11.6x11.5x12.5x
FCF yield at year end-2.98%-4.49%5.47%4.38%4.20%
Dividend payout——25.0%40.8%51.2%

Revenue by segment

FY2021FY2022FY2023FY2024FY2025
Casino$2.9B$2.6B$7.5B$8.3B$9.8B
Occupancy$415.0M—$1.2B——
Mall$65.0M$580.0M$767.0M$755.0M$801.0M
Food and Beverage$199.0M$319.0M$584.0M$607.0M$644.0M
Product and Service, Other$79.0M—$295.0M——

Revenue by region · FY2025

Marina Bay Sands$5.6B · 95%
Corporate Segment and Other Operating Segment$293.0M · 5%

Street estimates by fiscal year

Next report 2026-10-21 · consensus EPS $0.72 · these are analysts' numbers, not ours
Fiscal yearRevenue (mean)Revenue rangeEPS (mean)EPS rangeAnalystsP/E on mean EPS
2026$13.8B$13.7B – $13.9B$3.09$2.93 – $3.281112.3x
2027$14.5B$14.3B – $14.8B$3.50$3.29 – $3.691110.9x
2028$15.0B$14.6B – $15.8B$3.67$3.35 – $3.99510.4x

Reported vs expected, every quarter on file

ReportedEPS expectedEPS actualEPS surpriseRevenue expectedRevenue actualRevenue surprise
2026-07-22$0.76$0.59−22.1%$3.3B$3.2B−4.7%
2026-04-22$0.76$0.91+20.4%$3.4B$3.6B+6.6%
2026-01-28$0.77$0.85+11.1%$3.3B$3.6B+9.1%
2025-10-22$0.62$0.78+26.4%$3.1B$3.3B+9.1%
2025-07-23$0.53$0.79+48.8%$2.8B$3.2B+11.8%
2025-04-23$0.57$0.59+3.9%$2.9B$2.9B−0.7%
2025-01-29$0.57$0.54−6.1%$2.9B$2.9B+1.5%
2024-10-23$0.53$0.44−17.0%$2.8B$2.7B−3.8%
2024-07-24$0.56$0.55−1.8%$2.8B$2.8B−2.0%
2024-04-17$0.62$0.75+21.0%$2.9B$3.0B+0.7%
2024-01-24$0.61$0.57−6.6%$2.9B$2.9B+0.4%
2023-10-18$0.54$0.55+1.9%$2.9B$2.8B−3.6%
2023-07-19$0.43$0.46+7.0%$2.4B$2.5B+6.2%
2023-04-19$0.17$0.28+64.7%$1.8B$2.1B+18.0%
2023-01-25$-0.10$-0.19−90.0%$1.2B$1.1B−3.9%
2022-10-19$-0.20$-0.27−35.0%$941.1M$1.0B+6.8%
2022-07-20$-0.25$-0.34−36.0%$957.2M$1.0B+9.2%
2022-04-27$-0.24$-0.40−66.7%$1.1B$943.0M−16.5%
2022-01-26$-0.23$-0.22+4.3%$1.1B$1.0B−6.4%
2021-10-20$-0.25$-0.45−80.0%$795.4M$857.0M+7.7%
2021-07-21$-0.19$-0.26−36.8%$1.5B$1.2B−22.5%
2021-04-21$-0.27$-0.25+7.4%$1.4B$1.2B−15.2%
2021-01-27$-0.31$-0.37−19.4%$1.3B$1.0B−21.9%
2020-10-21$-0.58$-0.67−15.5%$370.4M$446.0M+20.4%

Off-exchange (dark pool) volume, weekly

FINRA ATS, $ billions · through the week of 2026-08-31 (FINRA publishes with a delay)
0.206-150.206-220.206-290.207-060.207-130.407-200.307-270.308-030.208-100.208-170.308-240.308-31
Week ofNotionalSharesTrades
2026-08-31$271.5M6,128,647111,038
2026-08-24$268.7M5,865,115105,204
2026-08-17$226.1M4,910,376106,930
2026-08-10$200.3M4,381,38881,676
2026-08-03$290.3M6,254,566110,810
2026-07-27$338.7M6,966,474115,975

Short-sale share of off-exchange volume

daily 20-day average
07-2310-1541.0%
DateShort shareShort volumeTotal volume
2026-10-1541.0%947,0632,308,348
2026-10-1450.5%933,7501,847,642
2026-10-1358.3%977,3241,676,163
2026-10-1257.3%1,045,3341,825,879
2026-10-0957.6%828,7961,437,766
2026-10-0855.9%1,064,5321,904,963
2026-10-0745.3%737,3991,627,189
2026-10-0655.7%778,2141,396,793
2026-10-0565.6%1,500,0092,285,479
2026-10-0262.9%1,758,5582,795,036
A daily flow measure from FINRA, not short interest.

Seasonality

Average return by calendar month
-0.9Jan-1.7Feb+1.1Mar+6.5Apr-1.9May-3.0Jun+1.8Jul+4.0Aug+2.2Sep+2.8Oct-0.2Nov+1.3Dec
MonthAvg returnUp yearsYears
Jan−0.9%45%20
Feb−1.7%50%20
Mar+1.1%48%21
Apr+6.5%50%20
May−1.9%35%20
Jun−3.0%40%20
Jul+1.8%60%20
Aug+4.0%55%20
Sep+2.2%50%20
Oct+2.8%65%20
Nov−0.2%60%20
Dec+1.3%45%20
History, not a forecast.

Indicators

as of 2026-10-16
RSI 1443.7
MFI42.6
ADX47.7
Stochastic %K / %D65.2 / 51.7
Williams %R-23.7
CCI28
TSI / signal-38.6 / -47.7
Chaikin money flow-0.16
ATR$0.96
Bollinger width14.1%
Volume vs 20-day avg1.11x
SupertrendDown

Moving averages and bands

level (price vs level)
SMA 20$37.61 (+1.1%)
SMA 50$41.72 (−8.9%)
SMA 200$50.17 (−24.2%)
EMA 21$38.16 (−0.4%)
EMA 50$40.88 (−7.0%)
EMA 200$47.66 (−20.2%)
Bollinger upper$40.26 (−5.6%)
Bollinger lower$34.95 (+8.8%)
Parabolic SAR$35.64 (+6.6%)
Open the live chart, 110+ indicators

About Las Vegas Sands Corp.

Las Vegas Sands Corporation, in conjunction with its various subsidiaries, specializes in the development, ownership, and ongoing management of comprehensive integrated resort properties across both Asian and United States markets. The company maintains a significant portfolio of establishments in Macao, People's Republic of China, including The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao (which encompasses the Four Seasons Hotel Macao, Cotai Strip), and the Sands Macao. Furthermore, its Asian operations extend to Singapore, where it presides over the iconic Marina Bay Sands. Domestically, Las Vegas Sands also operates key assets within Las Vegas, Nevada: The Venetian Resort Hotel Casino, prominently situated on the renowned Las Vegas Strip, and the Sands Expo and Convention Center. These expansive integrated resorts are meticulously designed to offer a full spectrum of guest experiences, boasting luxurious accommodations, extensive gaming facilities, diverse entertainment venues, high-end retail shopping complexes, state-of-the-art convention and exhibition spaces, gourmet restaurants helmed by celebrity chefs, and numerous other guest conveniences. Established in 1988, Las Vegas Sands Corp. maintains its corporate headquarters in Las Vegas, Nevada.

https://www.sands.com

Key executives

NameTitlePayBorn
Patrick DumontChairman, CEO, President & Treasurer$13.7M1975
Robert Glen GoldsteinSenior Advisor$12.7M1956
D. Zachary HudsonExecutive Vice President, Global General Counsel & Secretary$4.0M1980
Randy A. HyzakExecutive Vice President & Chief Financial Officer$3.3M1970
Daniel J. BriggsSenior Vice President of Investor Relations——
Ronald ReeseSenior Vice President of Global Communications, Corporate Affairs & Public Relations——

Executive pay, latest proxy

ExecutiveYearSalaryStock awardsIncentiveTotal
Robert G. Goldstein Chairman of the Board and Chief Executive Officer2024$3.0M$11.2M$5.5M$21.9M
Patrick Dumont President and Chief Operating Officer2024$2.5M$5.7M$4.5M$17.8M
D. Zachary Hudson Executive Vice President, Global General Counsel and Secretary2024$1.3M$1.6M$2.1M$5.3M
Randy Hyzak Executive Vice President and Chief Financial Officer2024$1.2M$1.7M$1.6M$4.7M

Employees

52k201850k201944k202044k202136k202238k202340k202441k2025

Dividends

Ex-dateAmountPaid
2026-08-04$0.32026-08-12
2026-05-05$0.32026-05-13
2026-02-09$0.32026-02-18
2025-11-04$0.252025-11-12
2025-08-05$0.252025-08-13
2025-05-06$0.252025-05-14
2025-02-10$0.252025-02-19
2024-11-05$0.22024-11-13

Moat model

Narrow · Intangible Assets · 2026-06-30
Cost advantage65
Intangibles75
Switching costs48
Network effect75
Efficient scale73
Our component scores (0-100) and overall 66.0; a model of the business, not a call on the stock.
InsiderStreet reports findings from filings and market data. Nothing on this page is a recommendation to buy or sell.Every figure is computed in code · data as of 2026-10-17

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