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Las Vegas Sands LVS Q3 2025 earnings

Reported October 22, 2025 · After market close

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

Next report

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

Financials

Q3 2025

Income statement

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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

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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
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Market cap$36.92B-0.9%
Enterprise value$51.14B+3.0%
P/E23.7×-1.0×
P/S3×-0.3×

Profitability

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

Returns & leverage

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

Segments

By product

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

By geography

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Macao$1.9B+7.2%
Singapore$1.4B+55.9%
United States-$80.0M-233%

FAQ

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 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 eps grew 77.3% from $0.44.
Where can I find Las Vegas Sands's Q3 2025 SEC filings?
You can read the 8-K earnings release (0001300514-25-000157) and the 10-Q periodic report (0001300514-25-000163) directly on SEC EDGAR. The filing index links above go to sec.gov.