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Las Vegas Sands logo

Las Vegas Sands Income Statement

Revenue, expenses, and profitability over time

Las Vegas Sands generated $13.7B in trailing twelve-month revenue, up 0.2% year-over-year. Net income was $1.8B with a 13.41% net margin. Diluted EPS is $2.70, which grew 0.5% year-over-year. Based on the Q1 2026 filing.

Total Revenue (TTM)$13.7BOperating Income (TTM)$3.1BNet Income (TTM)$1.8BEps Diluted (TTM)$2.70
Latest FilingQ1 2026
Report Date2026-04-24
Market Cap$33.5B
P/E Ratio18.21
ROE94.53%

Operating Expenses

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Depreciation and amortization$348M$362M$371M$368M$363M$357M
Amortization of leasehold interests in land$15M$15M$20M$21M$20M$21M
Corporate$75M$73M$69M$78M$90M$83M
Pre-opening costs$4M$4M$9M$7M$4M$4M
Provision for credit losses$9M$5M$16M$18M$46M$29M
Research and development$59M$69M$69M$72M$59M$41M
Selling, general and administrative$303M$273M$292M$308M$315M$302M
Total operating expenses$2.3B$2.3B$2.4B$2.6B$2.9B$2.7B

Earnings Per Share

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Basic earnings per share$0.45$0.49$0.66$0.61$0.59$0.85
Diluted earnings per share$0.45$0.49$0.66$0.61$0.58$0.85
Weighted-average shares, basic735M712M695M682M691M669M
Weighted-average shares, diluted737M713M696M685M693M671M

Income Before Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income before income taxes$461M$471M$609M$582M$551M$748M

Tax

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Income tax expense$69M$63M$90M$91M$103M$107M

Other Income & Expense

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Interest expense$180M$174M$194M$187M$191M$188M
Loss on modification or early retirement of debt$0-$5M$0$0$0$0
Other income (expense), net—-$1M-$22M$11M-$3M-$3M

Net Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net income$324M$352M$461M$419M$395M$567M

Operating Income

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Operating income$590M$609M$783M$719M$707M$904M

Other

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Gain (Loss) on Sale of Assets and Asset Impairment Charges-$9M-$7M-$8M-$68M-$164M-$8M
Interest income$57M$42M$42M$39M$38M$35M
Other income, net (Note 6)—-$1M-$22M$11M-$3M-$3M
Net additions (releases) charged to costs and expenses$9M$5M$16M$18M$46M$29M

Revenue

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total revenue$2.9B$2.9B$3.2B$3.3B$3.6B$3.6B