Upside case
Bull case
$98+101.8%
LVS would need investors to value it at roughly 30x earnings — about 15x more generous than today's 15x forward P/E. That requires meaningful multiple expansion on top of continued earnings growth.
Analysis OverviewBuyUpdated Jun 18, 2026
Las Vegas Sands Corp. (LVS) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
49
analysts
30 bullish · 0 bearish · 49 covering LVS
Strong Buy
0
Buy
30
Hold
19
Sell
0
Strong Sell
0
Consensus Target
$68
+39.3% vs today
Scenario Range
$47 – $98
Model bear to bull value window
Coverage
49
Published analyst ratings
Valuation Context
14.7x
Forward P/E · Market cap $32.3B
LVS price targets
Three scenarios for where LVS stock could go
Current
~$49
Confidence
52 / 100
Updated
Jun 18, 2026
Where we are now
Current · $49
Bear
$47
Base
$75
Bull
$98
Market caseClosest to today
Base case
$75+53.2%
At 23x on FY1 earnings, the base case reflects a reasonable but not stretched valuation. It prices in continued growth without assuming an exceptional setup.
Stress case
Bear case
$47-3.5%
If investor confidence fades or macro conditions deteriorate, a 1x multiple contraction could push LVS down roughly 3% from where it trades now.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Las Vegas Sands Corp.
LVS · NYSEConsumer CyclicalGambling, Resorts & CasinosDecember year-end
Las Vegas Sands is a global developer and operator of luxury integrated resorts — large-scale properties combining casinos, hotels, convention centers, and entertainment venues. It generates revenue primarily from casino gaming (roughly 70% of total), complemented by hotel rooms, food and beverage, retail, and convention services. Its key advantage is owning premier integrated resort properties in limited-license Asian markets — particularly Macau and Singapore — where government restrictions create high barriers to entry.
Market Cap
$32.3B
Revenue TTM
$13.7B
Net Income TTM
$1.8B
Net Margin
13.4%
LVS Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
67%Exceptional
12 quarters tracked
Revenue Beat Rate
67%Exceptional
vs consensus estimates
Avg EPS Surprise
+9.1%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 4 of 4Q3 2025
EPS
$0.79/$0.53
Revenue
$3.2B/$2.8B
Q4 2025
EPS
$0.78/$0.62
Revenue
$3.3B/$3.1B
Q1 2026
EPS
$0.85/$0.77
Revenue
$3.6B/$3.3B
Q2 2026
EPS
$0.91/$0.76
Revenue
$3.6B/$3.4B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q3 2025 | $0.79/$0.53 | +48.8% | $3.2B/$2.8B | +11.8% |
| Q4 2025 | $0.78/$0.62 | +26.4% | $3.3B/$3.1B | +9.1% |
| Q1 2026 | $0.85/$0.77 | +11.1% | $3.6B/$3.3B | +9.1% |
| Q2 2026 | $0.91/$0.76 | +20.4% | $3.6B/$3.4B | +6.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$14.9B
+8.7% YoY
FY2
$15.6B
+4.3% YoY
EPS Outlook
FY1
$3.18
+16.0% YoY
FY2
$3.46
+8.7% YoY
Trailing FCF (TTM)$2.3B
FCF Margin: 16.9%
Next Earnings
July 22, 2026
Expected EPS
$0.78
Expected Revenue
$3.4B
LVS beat EPS estimates in 4 of 4 tracked quarters. A perfect track record raises the bar for the upcoming report.
LVS Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $11.2B
Product Mix
Latest annual revenue by segment or product family
Casino
87.1%
+17.9% YoY
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
Marina Bay Sands
95.0%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Casino is the largest disclosed segment at 87.1% of FY 2025 revenue, up 17.9% YoY.
Marina Bay Sands is the largest reported region at 95.0%, with no year-over-year comparison yet.
LVS Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Cheap versus peers
Fair value est. $77 — implies +58.7% from today's price.
Upside to Fair Value
58.7%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
LVS
20.7x
vs
S&P 500
24.4x
15% discount
vs Consumer Cyclical Trailing P/E
LVS
20.7x
vs
Consumer Cyclical
21.2x
In line with benchmark
vs LVS 5Y Avg P/E
Today
20.7x
vs
5Y Average
28.2x
27% discount
Forward PE
14.7x
S&P 500
18.8x
-22%
Consumer Cyclical
16.3x
-10%
5Y Avg
—
—
Trailing PE
20.7x
S&P 500
24.4x
-15%
Consumer Cyclical
21.2x
-2%
5Y Avg
28.2x
-27%
PEG Ratio
—
S&P 500
1.66x
—
Consumer Cyclical
0.92x
—
5Y Avg
—
—
EV/EBITDA
9.6x
S&P 500
15.2x
-37%
Consumer Cyclical
12.2x
-21%
5Y Avg
12.5x
-23%
Price/FCF
19.5x
S&P 500
20.7x
-6%
Consumer Cyclical
15.6x
+26%
5Y Avg
23.2x
-16%
Price/Sales
2.5x
S&P 500
3.1x
-20%
Consumer Cyclical
0.7x
+256%
5Y Avg
5.2x
-53%
Dividend Yield
2.47%
S&P 500
1.91%
+29%
Consumer Cyclical
2.17%
+14%
5Y Avg
1.41%
+76%
| Metric | LVS | S&P 500 | Consumer Cyclical | 5Y Avg LVS |
|---|---|---|---|---|
| Forward PE | 14.7x | 18.8x-22% | 16.3x-10% | — |
| Trailing PE | 20.7x | 24.4x-15% | 21.2x | 28.2x-27% |
| PEG Ratio | — | 1.66x | 0.92x | — |
| EV/EBITDA | 9.6x | 15.2x-37% | 12.2x-21% | 12.5x-23% |
| Price/FCF | 19.5x | 20.7x | 15.6x+26% | 23.2x-16% |
| Price/Sales | 2.5x | 3.1x-20% | 0.7x+256% | 5.2x-53% |
| Dividend Yield | 2.47% | 1.91% | 2.17% | 1.41% |
LVS trades above S&P 500 benchmarks on 0 of 5 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolLVS Financial Health
Verdict
Exceptional
LVS generates $2.3B in free cash flow at a 16.9% margin — 16.9% ROIC signals a durable competitive advantage · returns 9.3% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$13.7B
Revenue Growth
TTM vs prior year
+22.7%
Gross Margin
Gross profit as a share of revenue
26.7%
Operating Margin
Operating income divided by revenue
24.6%
Net Margin
Net income divided by revenue
13.4%
EPS (TTM)
Diluted earnings per share, trailing twelve months
$2.75
Free Cash Flow (TTM)
Cash generation after capex
$2.3B
FCF Margin
FCF as share of revenue — the primary cash quality signal
16.9%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
16.9%
ROA
Return on assets, trailing twelve months
8.5%
Cash & Equivalents
Liquid assets on the balance sheet
$3.8B
Net Debt
Total debt minus cash
$12.3B
Debt Serviceability
Net debt as a multiple of annual free cash flow
5.3× FCF
~5.3 years to full repayment at current FCF run-rate
ROE *
Return on equity, trailing twelve months
95.8%
* Elevated by buyback-compressed equity — compare ROIC (16.9%) for an undistorted picture of capital efficiency.
Shareholder Returns
How capital is returned to owners
Total shareholder yield
9.3%
Dividend
2.5%
Buyback
6.9%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$2.2B
Dividend / Share
Annualized trailing dividend per share
$1.20
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
664M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt). ROE marked * where buyback-compressed equity base may inflate the figure.
Open full ratios pageLVS Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated June 18, 2026
High Risk
Macau margin weakness
Las Vegas Sands share price dropped 9% post-earnings due to margin weakness in Macau from an intensely competitive market.
High Risk
Competitive pressures
The bear case would see Las Vegas Sands remain a two-market company facing mature growth rates and increased competition.
Medium
Stock volatility
Las Vegas Sands is experiencing volatility, with unusual stock movements potentially linked to market conditions or investor sentiment.
Lower
Limited market expansion
The bear case suggests Las Vegas Sands may fail to expand into a third integrated resort market, capping growth potential.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why LVS Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated June 18, 2026
Strong profitability in Asia
Las Vegas Sands reported solid profitability in Singapore and Macao, driving strong Q1 2026 results.
Capital returns to shareholders
The company returned capital to shareholders through $740 million in stock repurchases and maintained its quarterly dividend.
Analyst upside potential
Wall Street consensus price target of $69.10 implies a 38.9% upside from the current stock price of $49.74.
High operating margins
The company achieved operating margins near 26% as fixed costs normalize with higher resort utilization.
Strong cash generation
LVS generated roughly $2 billion in net income LTM, strengthening cash flow and supporting capital returns.
Dominant market position
The company operates in the Resorts & Casinos sector with a narrow moat and significant institutional ownership.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
LVS Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$48.72
52W Range Position
26%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$40.94
+19.0% from the low
52-Week High
$70.45
-30.8% from the high
1 Month
-2.93%
3 Month
-9.66%
YTD
-25.3%
1 Year
+16.6%
3Y CAGR
-6.0%
5Y CAGR
-1.7%
10Y CAGR
+1.0%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
LVS vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
14.7x
vs 22.6x median
-35% below peer median
Revenue Growth
+8.7%
vs +8.3% median
+5% above peer median
Net Margin
13.4%
vs 1.0% median
+1199% above peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
LVS LVS Las Vegas Sands Corp. | $32.3B | 14.7x | +8.7% | 13.4% | Buy | +39.3% |
WYN WYNN Wynn Resorts, Limited | $11.0B | 22.6x | +8.3% | 5.1% | Buy | +31.1% |
MGM MGM MGM Resorts International | $12.0B | 27.5x | +5.7% | 1.0% | Buy | -7.7% |
MLC MLCO Melco Resorts & Entertainment Limited | $2.2B | 9.8x | +10.0% | 3.6% | Buy | +41.0% |
GEN GENI Genius Sports Limited | $1.6B | — | +21.2% | -22.3% | Buy | +54.1% |
CZR CZR Caesars Entertainment, Inc. | $6.0B | — | +5.1% | -4.2% | Hold | +5.7% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
LVS Dividend and Capital Return
LVS returns capital mainly through $2.2B/year in buybacks (6.9% buyback yield), with a modest 2.47% dividend — combining for 9.3% total shareholder yield.
Dividend UnknownFCF Well Covered
Total Shareholder Yield
9.3%
Dividend + buyback return per year
Buyback Yield
6.9%
Dividend Yield
2.47%
Payout Ratio
—
How LVS Splits Its Return
Div 2.47%
Buyback 6.9%
Dividend 2.47%Buybacks 6.9%
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$1.20
Growth Streak
Consecutive years of dividend increases
2Y
3Y Div CAGR
-31.9%
5Y Div CAGR
4.8%
Ex-Dividend Date
—
Payment Cadence
Quarterly
4 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$2.2B
Estimated Shares Retired
46M
Approx. Share Reduction
6.9%
Shares Outstanding
Current diluted share count from the screening snapshot
664M
At 6.9%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2026 | $0.60 | — | — | — |
| 2025 | $1.00 | +25.0% | 4.9% | 6.8% |
| 2024 | $0.80 | +100.0% | 4.6% | 6.2% |
| 2023 | $0.40 | — | 1.3% | 2.2% |
| 2020 | $0.79 | -74.4% | 0.0% | 1.3% |
FAQ
7 questionsLVS Investor Questions
Common questions answered from live analyst data and company financials.
01Is Las Vegas Sands Corp. (LVS) stock a buy or sell in 2026?
Las Vegas Sands Corp. (LVS) is rated Buy by Wall Street analysts as of 2026. Of 49 analysts covering the stock, 30 rate it Buy or Strong Buy, 19 rate it Hold, and 0 rate it Sell or Strong Sell. The consensus 12-month price target is $68, implying +39.3% from the current price of $49. The bear case scenario is $47 and the bull case is $98.
02What is the LVS stock price target for 2026?
The Wall Street consensus price target for LVS is $68 based on 49 analyst estimates. The high-end target is $77 (+58.0% from today), and the low-end target is $62 (+27.3%). The base case model target is $75.
03Is Las Vegas Sands Corp. (LVS) stock overvalued in 2026?
LVS trades at 14.7x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals cheap versus peers. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Las Vegas Sands Corp. (LVS) stock in 2026?
The primary risks for LVS in 2026 are: (1) Macau margin weakness — Las Vegas Sands share price dropped 9% post-earnings due to margin weakness in Macau from an intensely competitive market. (2) Competitive pressures — The bear case would see Las Vegas Sands remain a two-market company facing mature growth rates and increased competition. (3) Stock volatility — Las Vegas Sands is experiencing volatility, with unusual stock movements potentially linked to market conditions or investor sentiment. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Las Vegas Sands Corp.'s revenue and earnings forecast?
Analyst consensus estimates LVS will report consensus revenue of $14.9B (+8.7% year-over-year) and EPS of $3.18 (+16.0% year-over-year) for the upcoming fiscal year. The following year, analysts project $15.6B in revenue.
06When does Las Vegas Sands Corp. (LVS) report its next earnings?
Las Vegas Sands Corp. is expected to report its next earnings on approximately 2026-07-22. Consensus expects EPS of $0.78 and revenue of $3.4B. Over recent quarters, LVS has beaten EPS estimates 67% of the time.
07How much free cash flow does Las Vegas Sands Corp. generate?
Las Vegas Sands Corp. (LVS) generated $2.3B in free cash flow over the trailing twelve months — a free cash flow margin of 16.9%. LVS returns capital to shareholders through dividends (2.5% yield) and share repurchases ($2.2B TTM).