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Las Vegas Sands LVS Q4 2025 Annual earnings

Reported January 28, 2026 · After market close

Revenue$3.6BBeat by $304.9M
EPS$0.85Beat by $0.08
Revenue estimate$3.3B
EPS estimate$0.77

Next report

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

Financials

Q4 2025

Income statement

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Revenue$3.6B+26.0%
Operating income$707.0M+19.8%
Net income$395.0M+21.9%
EPS (diluted)$0.58+28.9%

Balance sheet

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Cash & equivalents$4.0B+5.1%
Total debt$17.3B+0.2%
Total equity$1.6B-44.9%
Total assets$21.9B+6.1%

Cash flow

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Operating cash flow$1.2B+31.6%
CapEx$274.0M-49.9%
Free cash flow$930.0M+153%

Valuation & ratios

Valuation

as of 12/31/25
See full
Market cap$44.01B+18.2%
Enterprise value$57.3B+13.0%
P/E27×+1.3×
P/S3.4×+0.1×

Profitability

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Operating margin21.6%+0.4pp
Net margin12.5%-0.3pp
FCF margin15.1%+0.6pp

Returns & leverage

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Return on equity72.7%+31.4pp
Debt / equity10.9×+4.9×
Current ratio1.1×+0.4×

Segments

By product

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Casino$2.7B+30.3%

FAQ

When did Las Vegas Sands report Q4 2025 earnings?
Las Vegas Sands (LVS) reported Q4 2025 earnings on January 28, 2026 after market close.
What were Las Vegas Sands's Q4 2025 revenue and EPS?
Las Vegas Sands reported revenue of $3.6B and eps of $0.85 for Q4 2025.
Did Las Vegas Sands beat estimates in Q4 2025?
Revenue beat the consensus estimate of $3.3B by $304.9M. EPS beat the consensus estimate of $0.77 by $0.08.
How did Las Vegas Sands's Q4 2025 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 26.0% from $2.9B a year earlier and eps grew 57.4% from $0.54.
Where can I find Las Vegas Sands's Q4 2025 SEC filings?
You can read the 8-K earnings release (0001300514-26-000004) and the 10-K periodic report (0001300514-26-000013) directly on SEC EDGAR. The filing index links above go to sec.gov.