Las Vegas Sands Corp. (LVS) Financial Ratios
26 years of historical data (2000–2025) · Consumer Cyclical · Gambling, Resorts & Casinos
EV/EBITDA
↓
10.29
↓-84% vs avg
5yr avg: 63.31
30Y Low9.6·High77.9
P/FCF
↑
21.35
-8% vs avg
5yr avg: 23.23
30Y Low10.9·High30.1
P/B Ratio
↑
19.07
↑+42% vs avg
5yr avg: 13.46
30Y Low0.5·High23.3
ROE
↑
63.9%
↓+374% vs avg
5yr avg: 13.5%
30Y Low-35%·High67%
Debt/EBITDA
↓
3.49
↓-84% vs avg
5yr avg: 21.61
30Y Low1.9·High37.2
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
LVS Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Las Vegas Sands Corp. trades at 22.6x earnings, 20% below its 5-year average of 28.2x, sitting at the 31st percentile of its historical range. Compared to the Consumer Cyclical sector median P/E of 19.6x, the stock trades at a premium of 16%. On a free-cash-flow basis, the stock trades at 21.4x P/FCF, 8% below the 5-year average of 23.2x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $35.3B | $45.1B | $37.9B | $37.6B | $36.7B | $28.8B | $45.5B | $53.2B | $40.9B | $55.0B | $42.5B |
| Enterprise Value | $47.6B | $57.4B | $48.0B | $46.6B | $46.4B | $41.7B | $57.5B | $61.5B | $48.2B | $62.3B | $49.9B |
| P/E Ratio → | 22.65 | 27.70 | 26.20 | 30.76 | — | — | — | 19.73 | 16.95 | 19.63 | 25.43 |
| P/S Ratio | 2.71 | 3.47 | 3.35 | 3.63 | 8.94 | 6.79 | 15.49 | 4.39 | 2.98 | 4.32 | 3.77 |
| P/B Ratio | 19.07 | 23.32 | 11.98 | 9.17 | 10.05 | 12.79 | 12.87 | 8.18 | 6.07 | 7.22 | 5.67 |
| P/FCF | 21.35 | 27.27 | 23.31 | 19.11 | — | — | — | 27.06 | 10.90 | 14.85 | 16.34 |
| P/OCF | 12.52 | 15.98 | 11.81 | 11.67 | — | 1917.13 | — | 17.52 | 8.70 | 12.11 | 10.50 |
P/E links to full P/E history page with 30-year chart
LVS EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Las Vegas Sands Corp.'s enterprise value stands at 10.3x EBITDA, 84% below its 5-year average of 63.3x. The Consumer Cyclical sector median is 11.4x, placing the stock at a 9% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.41 | 4.24 | 4.49 | 11.29 | 9.85 | 19.54 | 5.07 | 3.51 | 4.89 | 4.43 |
| EV / EBITDA | 10.29 | 12.40 | 12.32 | 12.65 | 174.41 | 104.77 | — | 12.33 | 9.62 | 13.35 | 13.10 |
| EV / EBIT | 15.41 | 19.40 | 17.85 | 17.96 | — | — | — | 14.14 | 12.76 | 18.41 | 19.75 |
| EV / FCF | — | 34.71 | 29.53 | 23.64 | — | — | — | 31.26 | 12.86 | 16.80 | 19.21 |
LVS Profitability
Margins and return-on-capital ratios measuring operating efficiency
Las Vegas Sands Corp. earns an operating margin of 23.7%, significantly above the Consumer Cyclical sector average of 2.9%. Operating margins have expanded from 22.7% to 23.7% over the past 3 years, signaling improving operational efficiency. Return on equity of 63.9% is exceptionally high — well above the sector median of 5.6%. ROIC of 16.9% represents solid returns on invested capital versus a sector median of 5.8%.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.2% | 28.2% | 36.8% | 37.6% | 14.9% | 13.4% | -6.0% | 47.3% | 41.1% | 41.1% | 39.6% |
| Operating Margin | 23.7% | 23.7% | 21.8% | 22.7% | -18.7% | -15.2% | -44.3% | 31.5% | 28.5% | 27.4% | 24.0% |
| Net Profit Margin | 12.5% | 12.5% | 12.8% | 11.8% | -24.8% | -22.7% | -57.3% | 22.2% | 17.6% | 22.1% | 14.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 63.9% | 63.9% | 39.8% | 31.5% | -34.6% | -33.2% | -33.5% | 40.7% | 33.6% | 37.1% | 21.0% |
| ROA | 7.6% | 7.6% | 6.8% | 5.6% | -4.8% | -4.7% | -7.7% | 11.8% | 11.2% | 13.6% | 8.1% |
| ROIC | 16.9% | 16.9% | 14.1% | 13.4% | -4.1% | -3.1% | -6.5% | 19.9% | 20.3% | 17.6% | 13.3% |
| ROCE | 19.0% | 19.0% | 15.3% | 13.3% | -4.3% | -3.6% | -6.9% | 19.4% | 21.1% | 19.7% | 15.0% |
LVS Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Las Vegas Sands Corp. carries a Debt/EBITDA ratio of 3.5x, which is moderately leveraged (21% below the sector average of 4.4x). Net debt stands at $12.3B ($16.1B total debt minus $3.8B cash). Interest coverage of 4.0x is adequate, though a cyclical earnings downturn could tighten the margin of safety.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 8.34 | 8.34 | 4.35 | 3.42 | 4.37 | 6.58 | 3.96 | 1.92 | 1.78 | 1.26 | 1.28 |
| Debt / EBITDA | 3.49 | 3.49 | 3.53 | 3.81 | 60.07 | 37.17 | — | 2.50 | 2.39 | 2.07 | 2.52 |
| Net Debt / Equity | — | 6.36 | 3.20 | 2.17 | 2.64 | 5.76 | 3.37 | 1.27 | 1.09 | 0.95 | 1.00 |
| Net Debt / EBITDA | 2.66 | 2.66 | 2.60 | 2.42 | 36.34 | 32.52 | — | 1.66 | 1.46 | 1.55 | 1.96 |
| Debt / FCF | — | 7.43 | 6.22 | 4.53 | — | — | — | 4.20 | 1.96 | 1.95 | 2.87 |
| Interest Coverage | 3.97 | 3.97 | 3.70 | 3.17 | -0.98 | -1.37 | -2.59 | 9.69 | 8.48 | 10.34 | 9.23 |
LVS Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.14x means Las Vegas Sands Corp. can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 1.31x to 1.14x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.14 | 1.14 | 0.74 | 1.31 | 1.73 | 2.15 | 2.03 | 1.65 | 1.76 | 1.08 | 1.10 |
| Quick Ratio | 1.13 | 1.13 | 0.73 | 1.30 | 1.72 | 2.14 | 2.02 | 1.63 | 1.75 | 1.07 | 1.09 |
| Cash Ratio | 0.91 | 0.91 | 0.63 | 1.15 | 1.62 | 0.72 | 0.74 | 1.31 | 1.47 | 0.82 | 0.76 |
| Asset Turnover | — | 0.59 | 0.55 | 0.48 | 0.19 | 0.21 | 0.14 | 0.52 | 0.61 | 0.62 | 0.55 |
| Inventory Turnover | 203.24 | 203.24 | 174.27 | 170.29 | 124.86 | 166.68 | 141.64 | 216.14 | 231.00 | 202.70 | 151.04 |
| Days Sales Outstanding | — | 20.81 | 13.47 | 17.03 | 23.71 | 17.41 | 31.29 | 25.40 | 19.30 | 17.64 | 25.13 |
LVS Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Las Vegas Sands Corp. returns 8.5% to shareholders annually — split between a 2.3% dividend yield and 6.3% buyback yield. The earnings yield of 4.4% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 2.3% | 1.8% | 1.6% | 0.8% | — | — | 1.3% | 4.4% | 5.7% | 4.2% | 6.9% |
| Payout Ratio | — | — | 40.8% | 25.0% | — | — | — | 87.7% | 97.5% | 82.3% | 175.1% |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 4.4% | 3.6% | 3.8% | 3.3% | — | — | — | 5.1% | 5.9% | 5.1% | 3.9% |
| FCF Yield | 4.7% | 3.7% | 4.3% | 5.2% | — | — | — | 3.7% | 9.2% | 6.7% | 6.1% |
| Buyback Yield | 6.3% | 4.9% | 4.6% | 1.3% | 0.0% | 0.0% | 0.0% | 1.4% | 2.2% | 0.7% | 0.0% |
| Total Shareholder Yield | 8.5% | 6.8% | 6.2% | 2.2% | 0.0% | 0.0% | 1.3% | 5.9% | 8.0% | 4.9% | 6.9% |
| Shares Outstanding | — | $693M | $737M | $765M | $764M | $764M | $764M | $771M | $786M | $792M | $795M |
Peer Comparison
Compare LVS with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 LVSYou | $35B | 22.6 | 10.3 | 21.4 | 28.2% | 23.7% | 63.9% | 16.9% | 3.5 |
 WYNN | $11B | 34.3 | 12.4 | 16.2 | 32.7% | 16.2% | — | 9.3% | 6.9 |
 MGM | $10B | 50.3 | 31.6 | 5.9 | 44.4% | 5.7% | 5.9% | 1.7% | 27.8 |
 MLCO | $2B | 12.1 | 7.2 | 4.7 | 36.7% | 11.6% | — | 8.6% | 6.2 |
 GENI | $1B | -10.0 | — | 16.8 | 23.0% | -15.6% | -17.2% | -16.6% | — |
 CZR | $6B | -11.5 | 8.9 | 10.9 | 37.7% | 18.1% | -12.5% | 5.4% | 7.5 |
 BYD | $6B | 3.8 | 7.9 | 16.5 | 42.1% | 21.4% | 88.0% | 12.3% | 2.8 |
 PENN | $2B | -2.9 | 13.8 | — | 27.4% | 3.9% | -36.0% | 1.8% | 11.7 |
 RRR | $3B | 17.0 | 3.8 | 10.8 | 52.6% | 29.7% | 58.9% | 23.4% | 0.1 |
 CHDN | $6B | 17.3 | 11.6 | 13.0 | 33.6% | 25.2% | 35.2% | 9.4% | 5.3 |
 LNW | $8B | 26.6 | 11.5 | 24.1 | 70.8% | 21.0% | 48.0% | 11.6% | 3.8 |
| Consumer Cyclical Median | — | 19.6 | 11.4 | 15.0 | 36.9% | 2.9% | 5.6% | 5.8% | 4.4 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 26 years · Updated daily
Full LVS Stock Analysis
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Side-by-side business, growth, and profitability comparison vs Wynn Resorts, Limited.
Start ComparisonLVS — Frequently Asked Questions
Quick answers to the most common questions about buying LVS stock.
What is Las Vegas Sands Corp.'s P/E ratio?
Las Vegas Sands Corp.'s current P/E ratio is 22.6x. The historical average is 32.8x. This places it at the 31th percentile of its historical range.
What is Las Vegas Sands Corp.'s EV/EBITDA?
Las Vegas Sands Corp.'s current EV/EBITDA is 10.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.8x.
What is Las Vegas Sands Corp.'s ROE?
Las Vegas Sands Corp.'s return on equity (ROE) is 63.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 17.3%.
Is LVS stock overvalued?
Based on historical data, Las Vegas Sands Corp. is trading at a P/E of 22.6x. This is at the 31th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What is Las Vegas Sands Corp.'s dividend yield?
Las Vegas Sands Corp.'s current dividend yield is 2.26%.
What are Las Vegas Sands Corp.'s profit margins?
Las Vegas Sands Corp. has 28.2% gross margin and 23.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Las Vegas Sands Corp. have?
Las Vegas Sands Corp.'s Debt/EBITDA ratio is 3.5x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.