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Las Vegas Sands Corp., together with its subsidiaries, owns, develops, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, and The Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore. The company's integrated resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants, and other amenities. The company was founded in 1988 and is based in Las Vegas, Nevada.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $13.0B | $4.5B | $1.6B | $1.8B | 102.3% | 15.2% | 12.5% |
| 2024 | $11.3B | $4.1B | $1.4B | $1.6B | 50.1% | 8.9% | 18.4% |
| 2023 | $10.4B | $3.9B | $1.2B | $2.0B | 29.7% | 152.4% | -33.4% |
| 2022 | $4.1B | $406M | $1.8B | $-1.6B | 47.2% | - | - |
| 2021 | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 4,110 | 10,372 | 11,298 | 13,017 |
| Cost Of Revenue | - | 2,460 | 5,205 | 5,777 | 6,536 |
| Gross Profit | - | 1,650 | 5,167 | 5,521 | 6,481 |
| Operating Expense | - | 2,420 | 2,812 | 3,055 | 3,392 |
| Operating Income | - | -770 | 2,355 | 2,466 | 3,089 |
| EBITDA | - | 406 | 3,859 | 4,055 | 4,499 |
| EBIT | - | -685 | 2,593 | 2,687 | 2,959 |
| Pretax Income | - | -1,387 | 1,775 | 1,960 | 2,213 |
| Tax Provision | - | 154 | 344 | 208 | 347 |
| Net Income | - | 1,832 | 1,221 | 1,446 | 1,627 |
| Net Income Common Stockholders | - | 1,832 | 1,221 | 1,446 | 1,627 |
| Total Expenses | - | 4,880 | 8,017 | 8,832 | 9,928 |
| Interest Expense | - | 702 | 818 | 727 | 746 |
| Interest Income | - | 116 | 288 | 275 | 161 |
| Research And Development | - | 143 | 205 | 228 | 269 |
| Selling General And Administration | - | 936 | 1,107 | 1,150 | 1,188 |
| Normalized EBITDA | - | 428 | 3,901 | 4,119 | 4,775 |
| Normalized Income | - | -1,048.62 | 1,254.85 | 1,503.22 | 1,859.67 |
| Market Cap | 35,045.68 | 35,045.68 | 35,045.68 | 35,045.68 | 35,045.68 |
Consumer Cyclical sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Las Vegas Sands Corp.this co. | LVS | $36.6B | 21.54↓ discount | 22.04 | 102.3% | 10.44 |
| Chipotle Mexican Grill, Inc. | CMG | $45.7B | 29.01 | 15.74 | 54.3% | 20.76 |
| eBay Inc. | EBAY | $44.9B | 21.60 | 9.51 | 44.0% | 16.62 |
| Yum! Brands, Inc. | YUM | $44.7B | 28.42 | -6.05 | -21.3% | 20.40 |
| Carnival Corporation & plc | CCL | $35.7B |
| - |
| - |
| - |
| - |
| - |
| 13.64 |
| 3.06 |
| 22.5% |
| 9.22 |
| Tapestry, Inc. | TPR | $31.8B | 162.97 | 34.81 | 21.4% | 62.04 |
| Expedia Group, Inc. | EXPE | $31.5B | 23.81 | 24.00 | 100.8% | 11.46 |
| Casey's General Stores, Inc. | CASY | $29.7B | 54.23 | 8.45 | 15.6% | 26.89 |
| Rollins, Inc. | ROL | $27.4B | 51.74 | 19.83 | 38.3% | 33.00 |
| Peer Median | - | 28.72 | 12.62 | 30.4% | 20.58 | |