Income StatementBalance SheetCash FlowSegments
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Las Vegas Sands Cash Flow Statement

Operating, investing, and financing cash movements

Las Vegas Sands generated $3.2B in operating cash flow over the trailing twelve months. After $983.0M in capital expenditures, free cash flow was $2.2B. Free cash flow increased 0.8% year-over-year. Based on the Q1 2026 filing.

Net Cash From Operating (TTM)$3.2BNet Cash From Investing (TTM)-$949.0MNet Cash From Financing (TTM)-$2.0BCapital Expenditures (TTM)$983.0MDepreciation And Amortization Cf (TTM)$1.5BNet Change In Cash (TTM)$294.0M
Latest FilingQ1 2026
Report Date2026-04-24
Market Cap$33.6B
P/E Ratio18.22
ROE94.53%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of debt issuance costs$13.0M$13.0M$15.0M$15.0M$15.0M$15.0M
Change in accounts payable—-$14.0M$8.0M$7.0M$21.0M-$31.0M
Change in accounts receivable—$20.0M$99.0M$36.0M$237.0M-$32.0M
Change in other assets$20.0M$36.0M$9.0M-$19.0M$1.0M$9.0M
Change in other liabilities$138.0M-$220.0M$164.0M$166.0M$351.0M-$215.0M
Other working capital changes$0.0$0.0———-$8.0M
Deferred income taxes$20.0M-$6.0M-$19.0M-$31.0M-$4.0M-$6.0M
Depreciation and amortization$348.0M$362.0M$371.0M$368.0M$363.0M$357.0M
Unrealized Foreign Currency Transaction Gain (Loss)$1.0M-$2.0M-$27.0M$10.0M-$4.0M-$3.0M
Unrealized Foreign Currency Transaction Gain (Loss)$1.0M-$2.0M-$27.0M$10.0M-$4.0M-$3.0M
Foreign Currency Transaction Gain (Loss)$1.0M-$2.0M-$27.0M$10.0M-$4.0M-$3.0M
Net cash from operating activities$915.0M$526.0M$178.0M$1.1B$1.2B$731.0M
Net income$392.0M$408.0M$519.0M$491.0M$448.0M$641.0M
Non-cash interest expense$13.0M$13.0M$15.0M$15.0M$15.0M$15.0M
Amortization of leasehold interests in land$15.0M$15.0M$20.0M$21.0M$20.0M$21.0M
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax$1.0M-$2.0M-$27.0M$10.0M-$4.0M-$3.0M
Gain (loss) on disposal or impairment of assets-$3.0M-$1.0M-$7.0M-$66.0M-$162.0M-$7.0M
Loss on modification or early retirement of debt$0.0-$5.0M$0.0$0.0$0.0$0.0
Accounts payable—-$14.0M$8.0M$7.0M$21.0M-$31.0M
Increase (decrease) in leasehold interests in land$0.0$0.0$848.0M$0.0$0.0$137.0M
Increase (Decrease) in Other Operating Assets$20.0M$36.0M$9.0M-$19.0M$1.0M$9.0M
Unrealized Foreign Currency Transaction Gain (Loss)$1.0M-$2.0M-$27.0M$10.0M-$4.0M-$3.0M
Provision for credit losses$9.0M$5.0M$16.0M$18.0M$46.0M$29.0M
Unrealized Foreign Currency Gain (Loss)$1.0M-$2.0M-$27.0M$10.0M-$4.0M-$3.0M
Stock-based compensation$13.0M$11.0M$14.0M$14.0M$15.0M$24.0M
Unrealized Foreign Currency Gain (Loss)$1.0M-$2.0M-$27.0M$10.0M-$4.0M-$3.0M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$547.0M$379.0M$286.0M$229.0M$274.0M$194.0M
Payment for (Proceeds from) Other Investing Activity$0.0$0.0———-$8.0M
Net cash from investing activities-$550.0M-$454.0M-$286.0M-$211.0M-$266.0M-$186.0M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt$0.0$2.8B$4.0B$0.0$0.0$797.0M
Repayments of debt$95.0M$2.7B$2.1B$31.0M$31.0M$830.0M
Dividends paid$145.0M$179.0M$246.0M$239.0M$169.0M$202.0M
Other, net-$2.0M-$18.0M-$6.0M-$5.0M-$5.0M-$50.0M
Repayments of Debt and Lease Obligation$518.5M$2.7B———$830.0M
Payment of Deferred Purchase Consideration-$2.0M-$18.0M-$6.0M-$5.0M-$5.0M-$50.0M
Noncontrolling interest transactions and other-$2.0M-$18.0M-$6.0M-$5.0M-$5.0M-$50.0M
Net cash from financing activities-$879.0M-$692.0M$512.0M-$1.0B-$451.0M-$1.0B
Other financing activities-$4.0M-$19.0M-$5.0M-$5.0M-$5.0M-$50.0M
Payment of debt issuance costs$39.0M$164.0M$37.0M$0.0$0.0$0.0
Noncontrolling Interests Activity and Other-$2.0M-$18.0M-$6.0M-$5.0M-$5.0M-$50.0M
Proceeds from issuance of common stock$250.0K$0.0———$4.0M
Repurchases of common stock$450.0M$416.0M$800.0M$500.0M$501.0M$753.0M
Taxes paid for net share settlement$1.0M$2.0M$0.0$0.0$0.0$6.0M
Payments of consent fees related to long-term debt$39.0M$164.0M$37.0M$0.0$0.0$0.0

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$368.0M$147.0M-$108.0M$886.0M$930.0M$537.0M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$44.0M$6.0M$10.0M$11.0M$1.0M-$16.0M
Net increase (decrease) in cash-$558.0M-$614.0M$414.0M-$97.0M$488.0M-$511.0M
Payments to acquire intangible assets and other$3.0M$75.0M$0.0$0.0$0.0$0.0

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$16.0M$34.0M$101.0M$97.0M—$58.0M
Interest paid$87.0M$246.0M$117.0M$204.0M$143.0M$212.0M
Excise tax accrued on repurchase of common stock$4.0M$4.0M$8.0M$5.0M$1.0M$6.0M
Income Taxes Paid, Net$16.0M$34.0M$101.0M$97.0M—$58.0M
Change in construction-related payables—-$17.0M-$59.0M-$7.0M-$35.0M-$15.0M