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Las Vegas Sands LVS Q2 2025 earnings

Reported July 23, 2025 · After market close

Revenue$3.2BBeat by $334.5M
EPS$0.79Beat by $0.26
Revenue estimate$2.8B
EPS estimate$0.53

Next report

Oct 21, 2026 (in 2 months)
Revenue estimate$3.4B
EPS estimate$0.77

Financials

Q2 2025

Income statement

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Revenue$3.2B+15.0%
Operating income$783.0M+32.5%
Net income$461.0M+30.6%
EPS (diluted)$0.66+37.5%

Balance sheet

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Cash & equivalents$3.6B-26.1%
Total debt$16.7B+14.1%
Total equity$2.0B-47.0%
Total assets$21.9B+3.5%

Cash flow

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Operating cash flow$178.0M-78.1%
CapEx$286.0M+0.4%
Free cash flow--100%

Valuation & ratios

Valuation

as of 06/30/25
See full
Market cap$30.12B-9.2%
Enterprise value$43.29B+0.6%
P/E21.3×+0.7×
P/S2.6×-0.3×

Profitability

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Operating margin21.4%-2.3pp
Net margin12.2%-1.9pp
FCF margin6.3%-13.2pp

Returns & leverage

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Return on equity49.2%+9.3pp
Debt / equity8.4×+4.5×
Current ratio1.2×-0.4×

Segments

By product

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Casino$2.4B+18.7%
Rooms$345.0M+10.2%
Mall$187.0M+7.5%
Food and Beverage$147.0M-0.7%

By geography

See full
Macao$1.8B+1.9%
Singapore$1.4B+36.6%
United States-$67.0M-206%

FAQ

When did Las Vegas Sands report Q2 2025 earnings?
Las Vegas Sands (LVS) reported Q2 2025 earnings on July 23, 2025 after market close.
What were Las Vegas Sands's Q2 2025 revenue and EPS?
Las Vegas Sands reported revenue of $3.2B and eps of $0.79 for Q2 2025.
Did Las Vegas Sands beat estimates in Q2 2025?
Revenue beat the consensus estimate of $2.8B by $334.5M. EPS beat the consensus estimate of $0.53 by $0.26.
How did Las Vegas Sands's Q2 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 15.0% from $2.8B a year earlier and eps grew 43.6% from $0.55.
Where can I find Las Vegas Sands's Q2 2025 SEC filings?
You can read the 8-K earnings release (0001300514-25-000139) and the 10-Q periodic report (0001300514-25-000144) directly on SEC EDGAR. The filing index links above go to sec.gov.