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Las Vegas Sands LVS Debt-to-equity

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Other financials

Income statement

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Revenue$3.2B-0.7%
Operating income$618.0M-21.1%
Net income$346.0M-24.9%
EPS (diluted)$0.53-19.7%

Balance sheet

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Cash & equivalents$3.5B-2.1%
Total debt$16.8B+0.5%
Total equity$581.0M-70.8%
Total assets$19.9B-8.9%

Cash flow

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Operating cash flow$682.0M+283%
CapEx$332.0M+16.1%
Free cash flow$350.0M

Valuation

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Market cap$31.67B-12.0%
Enterprise value$45B-8.4%
P/E18.3×-7.1×
P/S2.3×-0.8×

Profitability

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Operating margin21.5%+0.1pp
Net margin12.6%+0.4pp
FCF margin19.7%+13.4pp

Returns & leverage

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Return on equity134.3%+85.1pp
Current ratio-0.2×

Where this comes from

Calculated from Las Vegas Sands’s reported figures.

Based on the most recent quarter.

The source filing: Las Vegas Sands’s 10-Q, filed July 24, 2026. Open the filing →

Filed
Jul 24, 2026, 4:03 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001300514-26-000085

FAQ

What is Las Vegas Sands's debt-to-equity?
Las Vegas Sands (LVS) reported debt-to-equity of 29× in Q2 2026.
How has Las Vegas Sands's debt-to-equity changed year-over-year?
Las Vegas Sands's debt-to-equity increased by 244.5% year-over-year, from 8.4× to 29×.
What is the long-term trend for Las Vegas Sands's debt-to-equity?
Over 5 years (2020 to 2025), Las Vegas Sands's debt-to-equity has grown at a 17.5% compound annual growth rate (CAGR), from 4.9× to 10.9×.
What does debt-to-equity mean?
Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

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