What is Las Vegas Sands's goodwill?

Las Vegas Sands (LVS) reported goodwill of $545M in Q1 2026.

How has Las Vegas Sands's goodwill changed year-over-year?

Las Vegas Sands's goodwill increased by 434.3% year-over-year, from $102M to $545M.

What is the long-term trend for Las Vegas Sands's goodwill?

Over 4 years (2021 to 2025), Las Vegas Sands's goodwill has grown at a 134.3% compound annual growth rate (CAGR), from $19M to $573M.

What does goodwill mean?

The excess of acquisition cost over the fair value of net identifiable assets acquired — representing brand value, customer relationships, and synergies from past M&A.

Las Vegas Sands LVS Goodwill

Goodwill at other companies

MGM Resorts InternationalMGM

$4.89B-5.4%

Caesars Entertainment, Inc.CZR

$10.44B-1.5%

BAL

Bally'sBALY

$3.37B+88.6%

FLL

Full House ResortsFLL

$19.48M0.0%

Red Rock Resorts, Inc.RRR

$195.68M0.0%

Monarch Casino & ResortMCRI

$25.11M0.0%

Other financials

Income statement

See full

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

See full

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

See full

Operating cash flow$731.0M+39.0%

CapEx$194.0M-48.8%

Free cash flow$537.0M+265%

Valuation

See full

Market cap$30.61B+1.0%

Enterprise value$44.7B+2.8%

P/E16.6×-4.8×

P/S2.2×-0.4×

Profitability

See full

Operating margin22.7%+2.2pp

Net margin13.4%+1.8pp

FCF margin17.1%+5.8pp

Returns & leverage

See full

Return on equity94.5%+55.3pp

Debt / equity14.6×+8.4×

Current ratio0.9×+0.3×

Where this comes from

Reported directly by Las Vegas Sands in its filing.

Tagged under the XBRL concept us-gaap:IntangibleAssetsNetIncludingGoodwill.

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 goodwill?: Las Vegas Sands (LVS) reported goodwill of $545M in Q1 2026.
How has Las Vegas Sands's goodwill changed year-over-year?: Las Vegas Sands's goodwill increased by 434.3% year-over-year, from $102M to $545M.
What is the long-term trend for Las Vegas Sands's goodwill?: Over 4 years (2021 to 2025), Las Vegas Sands's goodwill has grown at a 134.3% compound annual growth rate (CAGR), from $19M to $573M.
What does goodwill mean?: The excess of acquisition cost over the fair value of net identifiable assets acquired — representing brand value, customer relationships, and synergies from past M&A.