Last 48 quarters of trend data · Consumer Cyclical · Gambling, Resorts & Casinos
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Las Vegas Sands Corp.'s quarterly P/E stands at 15.8x, down 19.6% year-over-year — suggesting improving earnings relative to price.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 20.73 | 15.85 | 28.06 | 22.05 | 16.48 | 19.71 | 28.65 | 33.12 | 23.05 | 19.58 | 24.61 | 22.92 | 35.37 |
| — | -19.6% | -2.1% | -33.4% | -28.5% | +0.6% | +16.5% | +44.5% | -34.8% | -74.1% | — | — | — | |
| P/S Ratio | 2.48 | 2.52 | 3.02 | 2.77 | 2.38 | 2.41 | 3.27 | 3.43 | 2.97 | 3.28 | 3.21 | 3.14 | 4.38 |
| — | +4.8% | -7.5% | -19.4% | -19.7% | -26.8% | +1.9% | +9.2% | -32.1% | -36.7% | -61.0% | -56.0% | -28.7% | |
| P/B Ratio | 17.46 | 22.48 | 22.82 | 19.74 | 13.27 | 9.08 | 11.98 | 10.09 | 8.42 | 9.66 | 9.11 | 7.89 | 10.70 |
| — | +147.6% | +90.5% | +95.6% | +57.6% | -6.0% | +31.4% | +27.9% | -21.3% | -16.0% | -9.3% | +4.0% | +75.7% | |
| P/FCF | 19.55 | 16.83 | 11.86 | 9.59 | — | 95.64 | 25.93 | 41.82 | 15.61 | 18.91 | 13.81 | 17.15 | 21.31 |
| — | -82.4% | -54.2% | -77.1% | — | +405.8% | +87.7% | +143.9% | -26.7% | -55.5% | — | — | — | |
| EV / EBITDA | 9.64 | 9.36 | 11.33 | 10.38 | 8.95 | 9.49 | 12.25 | 13.36 | 10.95 | 11.03 | 10.72 | 10.58 | 16.02 |
| — | -1.5% | -7.5% | -22.3% | -18.2% | -13.9% | +14.2% | +26.3% | -31.7% | -44.9% | -91.4% | -90.1% | -79.3% | |
| EV / EBIT | 14.45 | 13.22 | 19.01 | 15.98 | 13.28 | 14.87 | 18.70 | 20.02 | 15.33 | 15.31 | 14.81 | 14.25 | 21.39 |
| — | -11.1% | +1.7% | -20.2% | -13.4% | -2.9% | +26.3% | +40.5% | -28.3% | -52.7% | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Las Vegas Sands Corp.'s operating margin was 25.6% in Q1 2026, up 1.6 pp QoQ and up 3.9 pp YoY. This marks the 3rd consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. Gross margin contracted 20.2% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 28.2% | 29.0% | 20.4% | 28.3% | 29.5% | 36.3% | 36.2% | 34.7% | 36.7% | 39.3% | 38.9% | 38.7% | 37.8% |
| — | -20.2% | -43.6% | -18.3% | -19.4% | -7.5% | -7.0% | -10.3% | -3.0% | +10.7% | +121.9% | +131.4% | +111.3% | |
| Operating Margin | 23.7% | 25.6% | 24.0% | 23.8% | 25.2% | 21.7% | 20.8% | 19.4% | 22.1% | 24.8% | 24.6% | 24.9% | 21.6% |
| — | +17.9% | +15.2% | +23.2% | +14.0% | -12.7% | -15.3% | -22.2% | +2.3% | +33.5% | +268.6% | +246.1% | +256.7% | |
| Net Margin | 12.5% | 15.8% | 10.8% | 12.6% | 14.5% | 12.3% | 11.2% | 10.3% | 12.8% | 16.7% | 13.1% | 13.6% | 12.3% |
| — | +28.6% | -3.2% | +22.7% | +13.6% | -26.3% | -14.6% | -24.6% | +4.2% | +140.8% | +189.3% | +157.4% | +144.7% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 63.9% | 32.0% | 20.8% | 20.2% | 17.3% | 11.4% | 9.5% | 7.3% | 8.9% | 12.2% | 8.9% | 8.8% | 7.8% |
| — | +181.6% | +118.3% | +176.9% | +94.6% | -6.5% | +6.6% | -17.4% | +14.1% | +209.4% | +302.5% | +248.3% | +221.0% | |
| ROA | 7.6% | 2.6% | 1.8% | 1.9% | 2.1% | 1.7% | 1.5% | 1.3% | 1.7% | 2.3% | 1.7% | 1.7% | 1.4% |
| — | +56.7% | +18.0% | +49.3% | +28.4% | -26.9% | -11.4% | -24.3% | +20.2% | +249.6% | +330.8% | +256.6% | +207.1% | |
| ROIC | 16.9% | 4.9% | 4.6% | 4.1% | 4.2% | 3.4% | 3.4% | 3.0% | 3.5% | 4.2% | 4.1% | 3.9% | 3.1% |
| — | +42.5% | +36.5% | +40.0% | +19.4% | -18.8% | -17.2% | -24.7% | +13.9% | +90.3% | +544.3% | +503.3% | +478.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Las Vegas Sands Corp.'s Debt/EBITDA ratio is 12.2x, down from 13.0x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 54.8% YoY to 0.92x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 8.34 | 9.78 | 8.34 | 8.45 | 6.93 | 4.57 | 4.35 | 3.84 | 3.53 | 3.47 | 3.42 | 3.23 | 3.59 |
| — | +114.1% | +91.7% | +119.9% | +96.5% | +31.7% | +27.3% | +18.8% | -1.7% | -17.0% | -21.8% | -20.1% | -1.7% | |
| Debt / EBITDA | 3.49 | 12.15 | 12.96 | 13.33 | 13.28 | 13.71 | 14.05 | 16.07 | 14.39 | 12.86 | 12.99 | 13.87 | 17.83 |
| — | -11.4% | -7.7% | -17.0% | -7.7% | +6.6% | +8.1% | +15.9% | -19.3% | -46.3% | -92.4% | -91.9% | -87.0% | |
| Current Ratio | 1.14 | 0.92 | 1.14 | 0.89 | 1.22 | 0.59 | 0.74 | 0.90 | 1.58 | 1.30 | 1.31 | 1.50 | 2.76 |
| — | +54.8% | +54.8% | -1.4% | -23.1% | -54.3% | -43.4% | -40.1% | -42.8% | -27.3% | -24.4% | -17.8% | -17.4% | |
| Quick Ratio | 1.13 | 0.91 | 1.13 | 0.88 | 1.21 | 0.59 | 0.73 | 0.89 | 1.57 | 1.29 | 1.30 | 1.50 | 2.75 |
| — | +54.8% | +54.8% | -1.7% | -23.3% | -54.5% | -43.6% | -40.2% | -42.9% | -27.5% | -24.6% | -18.0% | -17.5% | |
| Interest Coverage | 3.97 | 4.87 | 3.88 | 4.11 | 4.14 | 3.71 | 3.56 | 3.25 | 3.67 | 4.30 | 4.12 | 3.85 | 2.99 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying LVS stock.
Las Vegas Sands Corp.'s current P/E is 20.7x. The average P/E over the last 4 quarters is 20.6x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Las Vegas Sands Corp.'s current operating margin is 23.7%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Las Vegas Sands Corp.'s business trajectory between earnings reports.