Las Vegas Sands LVS Ratios & Valuation
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 22.7%+1.0pp | 21.6%-0.4pp | 22%+0.6pp | 21.4%+0.9pp | 20.5%-0.8pp | |
| Net margin | 13.4%+0.9pp | 12.5%-0.2pp | 12.7%+0.5pp | 12.2%+0.5pp | 11.6%-1.2pp | |
| EBITDA margin | 33.3%+0.4pp | 32.9%-0.9pp | 33.8%+0.3pp | 33.5%+1.0pp | 32.5%-0.3pp | |
| Free cash flow margin | 17.1%+2.0pp | 15.1%+3.7pp | 11.4%+5.1pp | 6.3%-5.0pp | 11.3%-3.2pp | |
| Returns | ||||||
| Return on equity | 94.5%+21.8pp | 72.7%+10.5pp | 62.3%+13.1pp | 49.2%+9.9pp | 39.2%-2.1pp | |
| Return on assets | 8.7%+1.0pp | 7.6%+0.4pp | 7.3%+0.7pp | 6.6%+0.4pp | 6.1%-0.7pp | |
| Return on invested capital | 16.6%+1.3pp | 15.2%+0.7pp | 14.6%-0.3pp | 14.9%+2.2pp | 12.6%-1.0pp | |
| Efficiency | ||||||
| Asset turnover | 0.6×0.0× | 0.6×0.0× | 0.6×0.0× | 0.5×0.0× | 0.5×0.0× | |
| Liquidity | ||||||
| Current ratio | 0.9×-0.2× | 1.1×+0.3× | 0.9×-0.3× | 1.2×+0.6× | 0.6×-0.1× | |
| Quick ratio | 0.9×-0.2× | 1.1×+0.3× | 0.9×-0.3× | 1.2×+0.6× | 0.6×-0.1× | |
| Cash ratio | 0.7×-0.2× | 0.9×+0.2× | 0.7×-0.3× | 1×+0.5× | 0.5×-0.1× | |
| Leverage | ||||||
| Debt-to-equity | 14.6×+3.8× | 10.9×-0.4× | 11.3×+2.9× | 8.4×+2.2× | 6.2×+0.3× | |
| Debt-to-assets | 0.8×0.0× | 0.8×0.0× | 0.8×+0.1× | 0.8×0.0× | 0.8×0.0× | |
| Net debt / EBITDA | 3.1×0.0× | 3.1×-0.3× | 3.4×0.0× | 3.4×-0.4× | 3.8×+0.1× | |
| Interest coverage | 4.1×+0.3× | 3.8×+0.1× | 3.7×+0.3× | 3.4×+0.2× | 3.2×-0.1× | |
| Per Share | ||||||
| Book value per share | $1.79-22.2% | $2.290.0% | $2.29-19.8% | $2.86-24.4% | $3.79-3.3% | |
| Valuation | ||||||
| Market capitalization | $36.2B-17.7% | $44.01B+19.2% | $36.92B+22.6% | $30.12B+8.9% | $27.66B-25.7% | |
| Enterprise value | $50.3B-12.2% | $57.3B+12.0% | $51.14B+18.1% | $43.29B+4.7% | $41.34B-18.4% | |
| Price / earnings | 19.7×-7.4× | 27×+3.3× | 23.7×+2.4× | 21.3×+0.1× | 21.2×-4.5× | |
| Price / sales | 2.6×-0.7× | 3.4×+0.4× | 3×+0.4× | 2.6×+0.1× | 2.5×-0.8× | |
| Price / book | 30.2×+2.5× | 27.7×+4.2× | 23.5×+8.4× | 15.1×+4.9× | 10.2×-2.7× | |
| EV / EBITDA | 11×-2.4× | 13.4×+1.1× | 12.3×+1.2× | 11.1×-0.2× | 11.3×-2.3× | |
| EV / sales | 3.7×-0.7× | 4.4×+0.2× | 4.2×+0.4× | 3.7×0.0× | 3.7×-0.8× | |
| Free cash flow yield | 6.5%+2.0pp | 4.5%+0.7pp | 3.8%+1.3pp | 2.4%-2.1pp | 4.6%+0.2pp | |
| Earnings yield | 5.1%+1.4pp | 3.7%-0.5pp | 4.2%-0.5pp | 4.7%0.0pp | 4.7%+0.8pp | |
| Dividend yield | 2.4%+0.5pp | 1.9%-0.3pp | 2.2%-0.2pp | 2.4%+0.1pp | 2.2%+0.7pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- Where do Las Vegas Sands's ratios come from?
- Every ratio is computed from Las Vegas Sands's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
