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Las Vegas Sands LVS Q3 2025 earnings

Reported October 22, 2025 · After market close

Revenue$3.3BBeat by $278.2MDiluted EPS$0.78Beat by $0.16
Revenue estimate$3.1B
EPS estimate$0.62

Next report

Jul 22, 2026 (In 1 week)
Revenue estimate$3.4B
EPS estimate$0.78

Financials

Q3 2025

Income statement

See full
Revenue$3.3B+24.2%
Operating income$719.0M+42.7%
Net income$419.0M+52.4%
EPS (diluted)$0.61+60.5%

Balance sheet

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Cash & equivalents$3.5B-19.7%
Total debt$17.7B+5.7%
Total equity$1.6B-54.1%
Total assets$21.5B+0.7%

Cash flow

See full
Operating cash flow$1.1B+46.5%
CapEx$229.0M-57.5%
Free cash flow$886.0M+299%

Valuation & ratios

Valuation

as of 09/30/25
See full
Market cap$36.92B-0.9%
Enterprise value$51.14B+3.0%
P/E23.7×-1.0×
P/S3×-0.3×

Profitability

See full
Operating margin22%-0.3pp
Net margin12.7%-0.6pp
FCF margin11.4%-5.8pp

Returns & leverage

See full
Return on equity62.3%+24.6pp
Debt / equity11.3×+6.4×
Current ratio0.9×0.0×

Segments

By product

See full
Casino$2.5B+29.4%
Rooms$374.0M+19.1%
Mall$199.0M+5.3%
Food and Beverage$165.0M+8.6%

By geography

See full
Macao$1.9B+7.7%
Singapore$1.4B+55.9%
United States-$80.0M-33.3%

Versus estimates

Revenue

Q1 2026$3.6BBeat by $223.1MQ4 2025$3.6BBeat by $304.9M
Q3 2025$3.3BBeat by $278.2M
Q2 2025$3.2BBeat by $334.5MQ1 2025$2.9BMiss by $20.6MQ4 2024$2.9BBeat by $43.1M

Diluted EPS

Q1 2026$0.91Beat by $0.15Q4 2025$0.85Beat by $0.08
Q3 2025$0.78Beat by $0.16
Q2 2025$0.79Beat by $0.26Q1 2025$0.59Beat by $0.02Q4 2024$0.54Miss by $0.03

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Questions, answered.

When did Las Vegas Sands report Q3 2025 earnings?
Las Vegas Sands (LVS) reported Q3 2025 earnings on October 22, 2025 after market close.
What were Las Vegas Sands's Q3 2025 revenue and EPS?
Las Vegas Sands reported revenue of $3.3B and diluted EPS of $0.78 for Q3 2025.
Did Las Vegas Sands beat estimates in Q3 2025?
Revenue beat the consensus estimate of $3.1B by $278.2M. EPS beat the consensus estimate of $0.62 by $0.16.
How did Las Vegas Sands's Q3 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 24.2% from $2.7B a year earlier and diluted EPS grew 77.3% from $0.44.
Where can I find Las Vegas Sands's Q3 2025 SEC filings?
You can read the 10-Q periodic report (0001300514-25-000163) directly on SEC EDGAR. The filing index links above go to sec.gov.