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Las Vegas Sands LVS Debt-to-equity

Debt-to-equity at other companies

VICI Properties Inc. logo
VICI Properties Inc.VICI
0.7×-0.1×
Host Hotels & Resorts logo
Host Hotels & ResortsHST
0.8×0.0×
Flutter Entertainment logo
Flutter EntertainmentFLUT
1.4×+0.6×

Other financials

Income statement

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Revenue$3.6B+25.3%
Operating income$904.0M+48.4%
Net income$567.0M+61.1%
EPS (diluted)$0.85+73.5%

Balance sheet

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Cash & equivalents$3.5B+9.3%
Total debt$17.5B+4.2%
Total equity$1.2B-55.6%
Total assets$21.2B-0.3%

Cash flow

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Operating cash flow$731.0M+39.0%
CapEx$194.0M-48.8%
Free cash flow$537.0M+265%

Valuation

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Market cap$31.89B+30.9%
Enterprise value$45.99B+21.7%
P/E17.3×-1.4×
P/S2.3×+0.1×

Profitability

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Operating margin22.7%+2.2pp
Net margin13.4%+1.8pp

Returns & leverage

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Return on equity94.5%+55.3pp
Current ratio0.9×+0.3×

Where this comes from

Calculated from Las Vegas Sands’s reported figures.

Based on the most recent quarter.

The official record: Las Vegas Sands’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Las Vegas Sands's debt-to-equity?
Las Vegas Sands (LVS) reported debt-to-equity of 14.6× in Q1 2026.
How has Las Vegas Sands's debt-to-equity changed year-over-year?
Las Vegas Sands's debt-to-equity increased by 134.7% year-over-year, from 6.2× to 14.6×.
What is the long-term trend for Las Vegas Sands's debt-to-equity?
Over 4 years (2021 to 2025), Las Vegas Sands's debt-to-equity has grown at a 9.3% compound annual growth rate (CAGR), from 25.8× to 36.8×.
What does debt-to-equity mean?
How much debt the company carries for every dollar of shareholder equity.
How do you interpret debt-to-equity?
Lower is generally safer, but moderate leverage can boost returns. Read in the context of cash-flow stability — a utility tolerates more debt than a cyclical. Negative equity makes the ratio meaningless and it is suppressed there.
How does debt-to-equity compare across companies?
Comparable within an industry; capital structures differ sharply across sectors. Not meaningful for banks.