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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 $2.4B. Free cash flow increased 0.9% 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)-$3.1BCapital 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$33.5B
P/E Ratio18.21
ROE94.53%

Operating

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Amortization of debt issuance costs$13M$13M$15M$15M$15M$15M
Change in accounts payable—-$14M$8M$7M$21M-$31M
Change in accounts receivable—$20M$99M$36M$237M-$32M
Change in other assets$20M$36M$9M—$1M$9M
Change in other liabilities$138M-$220M$164M$166M$351M-$215M
Other working capital changes$0$0——-$8M-$8M
Deferred income taxes$20M-$6M-$19M-$31M-$4M-$6M
Depreciation and amortization$348M$362M$371M$368M$363M$357M
Net cash from operating activities$915M$526M$178M$1.1B$1.2B$731M
Net income$392M$408M$519M$491M$448M$641M
Non-cash interest expense$13M$13M$15M$15M$15M$15M
Amortization of leasehold interests in land$15M$15M$20M$21M$20M$21M
Unrealized Gain (Loss), Foreign Currency Transaction, before Tax$1M-$2M-$27M—-$4M-$3M
Gain (loss) on disposal or impairment of assets-$3M-$1M-$7M-$66M-$162M-$7M
Loss on modification or early retirement of debt$0-$5M$0$0$0$0
Accounts payable—-$14M$8M$7M$21M-$31M
Increase (decrease) in leasehold interests in land$0$0$848M——$137M
Increase (Decrease) in Other Operating Assets$20M$36M$9M—$1M$9M
Accounts Receivable, Credit Loss Expense (Reversal)$9M$5M$16M$18M$46M$29M
Provision for credit losses$9M$5M$16M$18M$46M$29M
Stock-based compensation$13M$11M$14M$14M$15M$24M

Investing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Capital expenditures$547M$379M$286M$229M$274M$194M
Payment for (Proceeds from) Other Investing Activity$0$0——-$8M-$8M
Net cash from investing activities-$550M-$454M-$286M-$211M-$266M-$186M

Financing

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Proceeds from issuance of debt—$2.8B$4B——$797M
Repayments of debt$95M$2.7B$2.1B$31M$31M$830M
Dividends paid$145M$179M$246M$239M$169M$202M
Other, net-$2M-$18M-$6M-$5M-$5M-$50M
Repayments of Debt and Lease Obligation$518.5M$2.7B———$830M
Net cash from financing activities-$879M-$692M—-$1B-$451M-$1B
Other financing activities-$2M-$18M-$6M-$5M-$5M-$50M
Payment of debt issuance costs$39M$164M$37M——$0
Proceeds from issuance of common stock—$0——$263M$4M
Repurchases of common stock$450M$416M$800M$500M$501M$753M
Taxes paid for net share settlement$1M$2M———$6M

Free Cash Flow

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Free cash flow$368M$147M$0$886M$930M$537M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Effect of exchange rate changes on cash-$44M$6M$10M$11M$1M-$16M
Net increase (decrease) in cash-$558M-$614M$414M-$97M$488M-$511M
Payments to acquire intangible assets and other$3M$75M———$0

Supplemental

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income taxes paid$16M$34M$101M$97M—$58M
Interest paid$87M$246M$117M$204M$143M$212M
Excise tax accrued on repurchase of common stock$4M$4M$8M$5M$1M$6M
Income Taxes Paid, Net$16M$34M$101M$97M—$58M
Change in construction-related payables—-$17M-$59M-$7M-$35M-$15M