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Las Vegas Sands LVS Convention, Retail and Other — Overage rents

Other product segments

Mall
$27M+35.0%

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$636M+12.2%

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$29.87B-17.5%
Enterprise value$43.19B-12.5%
P/E17.3×-8.3×
P/S2.2×-0.9×

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
Debt / equity29×+20.6×
Current ratio-0.2×

Where this comes from

Reported directly by Las Vegas Sands in its filing.

Tagged under the XBRL concept us-gaap:VariableLeaseIncome.

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

Filed
Jul 24, 2026, 4:03 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001300514-26-000085
Line itemThree Months Ended June 30, 2026 / MallThree Months Ended June 30, 2026 / OtherThree Months Ended June 30, 2025 / MallThree Months Ended June 30, 2025 / Other
Minimum rents$145$1$140$1
Overage rents2720
$172$1$160$1
Six Months Ended June 30,
20262025
MallOtherMallOther
(In millions)
Minimum rents$291$1$280$1

Item 1. Financial Statements (unaudited)

FAQ

What is Las Vegas Sands's convention, retail and other — overage rents?
Las Vegas Sands (LVS) reported convention, retail and other — overage rents of $0 in Q2 2026.
What does convention, retail and other — overage rents mean?
This metric tracks additional rental income earned from retail tenants based on their sales performance exceeding a pre-defined threshold. It serves as a performance-based component of the total lease income, reflecting the health of the retail environment.

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