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Las Vegas Sands LVS Mall — Overage rents

Similar metrics at other companies

CBL & Associates Properties logo
CBLMalls — Revenue
$122.21M+5.4%
American Assets Trust logo
AATRetail — Lease rental income
$22.7M-8.2%
Global Net Lease logo
GNLRetail — Revenue from tenants
$29.55M-20.1%
Realty Income logo
ORetail — Rental (including reimbursements)
$1.15B+10.0%
Regency Centers logo
REGShopping Centers — Other Operating Income
$3.72M+10.0%
Global Net Lease logo
GNLOffice — Revenue from tenants
$30.56M-18.4%

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$31.22B+3.7%
Enterprise value$45.32B+4.7%
P/E17×-4.4×
P/S2.3×-0.3×

Profitability

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Operating margin22.7%+2.2pp
Net margin13.4%+1.8pp
FCF margin17.1%+5.8pp

Returns & leverage

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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:VariableLeaseIncome.

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 mall — overage rents?
Las Vegas Sands (LVS) reported mall — overage rents of $31M in Q1 2026.
How has Las Vegas Sands's mall — overage rents changed year-over-year?
Las Vegas Sands's mall — overage rents increased by 55.0% year-over-year, from $20M to $31M.
What is the long-term trend for Las Vegas Sands's mall — overage rents?
Over 4 years (2021 to 2025), Las Vegas Sands's mall — overage rents has grown at a 2.1% compound annual growth rate (CAGR), from $115M to $125M.
What does mall — overage rents mean?
Variable rental income earned from retail tenants based on their sales performance exceeding a specified threshold. This metric captures the upside potential of the retail environment and the success of the tenants.