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Las Vegas Sands LVS Operating margin

Operating margin at other companies

Host Hotels & Resorts logo
Host Hotels & ResortsHST
14.4%-0.5pp
Flutter Entertainment logo
Flutter EntertainmentFLUT
-0.6%-7.4pp

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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Net margin13.4%+1.8pp

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

Calculated from Las Vegas Sands’s reported figures.

Based on trailing twelve months.

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 operating margin?
Las Vegas Sands (LVS) reported operating margin of 22.7% in Q1 2026.
How has Las Vegas Sands's operating margin changed year-over-year?
Las Vegas Sands's operating margin increased by 10.6% year-over-year, from 20.5% to 22.7%.
What is the long-term trend for Las Vegas Sands's operating margin?
Over 4 years (2021 to 2025), Las Vegas Sands's operating margin has grown at a -6.1% compound annual growth rate (CAGR), from -110% to 85.6%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.