Las Vegas Sands LVS Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Operating margin | 22.7%+2.2pp | 21.6%+0.4pp | 22%-0.3pp | 21.4%-2.3pp | 20.5%-3.2pp | |
| Net margin | 13.4%+1.8pp | 12.5%-0.3pp | 12.7%-0.6pp | 12.2%-1.9pp | 11.6%-2.3pp | |
| EBITDA margin | 33.3%+0.7pp | 32.9%+0.1pp | 33.8%+0.1pp | 33.5%-1.4pp | 32.5%-2.3pp | |
| Free cash flow margin | 17.1%+5.8pp | 15.1%+0.6pp | 11.4%-5.8pp | 6.3%-13.2pp | 11.3%-10.6pp | |
| Returns | ||||||
| Return on equity | 94.5%+55.3pp | 72.7%+31.4pp | 62.3%+24.6pp | 49.2%+9.3pp | 39.2%+0.1pp | |
| Return on assets | 8.7%+2.5pp | 7.6%+0.8pp | 7.3%+0.3pp | 6.6%-0.8pp | 6.1%-1.0pp | |
| Return on invested capital | 16.6%+3.9pp | 15.2%+1.6pp | 14.6%+0.3pp | 14.9%-2.2pp | 12.6%-2.4pp | |
| Efficiency | ||||||
| Asset turnover | 0.6×+0.1× | 0.6×+0.1× | 0.6×+0.1× | 0.5×0.0× | 0.5×0.0× | |
| Liquidity | ||||||
| Current ratio | 0.9×+0.3× | 1.1×+0.4× | 0.9×0.0× | 1.2×-0.4× | 0.6×-0.7× | |
| Quick ratio | 0.9×+0.3× | 1.1×+0.4× | 0.9×0.0× | 1.2×-0.4× | 0.6×-0.7× | |
| Cash ratio | 0.7×+0.2× | 0.9×+0.3× | 0.7×-0.1× | 1×-0.4× | 0.5×-0.7× | |
| Leverage | ||||||
| Debt-to-equity | 14.6×+8.4× | 10.9×+4.9× | 11.3×+6.4× | 8.4×+4.5× | 6.2×+2.2× | |
| Debt-to-assets | 0.8×0.0× | 0.8×0.0× | 0.8×0.0× | 0.8×+0.1× | 0.8×0.0× | |
| Net debt / EBITDA | 3.1×-0.7× | 3.1×-0.5× | 3.4×+0.2× | 3.4×+0.9× | 3.8×+1.0× | |
| Interest coverage | 4.1×+0.9× | 3.8×+0.5× | 3.7×+0.3× | 3.4×-0.2× | 3.2×-0.2× | |
| Per Share | ||||||
| Book value per share | $1.79-52.8% | $2.29-41.4% | $2.29-51.1% | $2.86-43.5% | $3.79-28.0% | |
| Valuation | ||||||
| Market capitalization | $36.2B+30.9% | $44.01B+18.2% | $36.92B-0.9% | $30.12B-9.2% | $27.66B-28.7% | |
| Enterprise value | $50.3B+21.7% | $57.3B+13.0% | $51.14B+3.0% | $43.29B+0.6% | $41.34B-16.8% | |
| Price / earnings | 19.7×-1.6× | 27×+1.3× | 23.7×-1.0× | 21.3×+0.7× | 21.2×-3.5× | |
| Price / sales | 2.6×+0.2× | 3.4×+0.1× | 3×-0.3× | 2.6×-0.3× | 2.5×-1.0× | |
| Price / book | 30.2×+20.0× | 27.7×+14.8× | 23.5×+12.6× | 15.1×+6.3× | 10.2×+0.4× | |
| EV / EBITDA | 11×-0.3× | 13.4×-0.3× | 12.3×-0.7× | 11.1×+0.3× | 11.3×-1.4× | |
| EV / sales | 3.7×0.0× | 4.4×-0.1× | 4.2×-0.2× | 3.7×0.0× | 3.7×-0.7× | |
| Free cash flow yield | 6.5%+1.9pp | 4.5%+0.1pp | 3.8%-1.4pp | 2.4%-4.3pp | 4.6%-1.7pp | |
| Earnings yield | 5.1%+0.4pp | 3.7%-0.2pp | 4.2%+0.2pp | 4.7%-0.2pp | 4.7%+0.7pp | |
| Dividend yield | 2.4%+0.1pp | 1.9%+0.3pp | 2.2%+0.6pp | 2.4%+0.6pp | 2.2%+1.1pp | |
| PEG ratio | 0.5×— | 2.2×+0.8× | 6.9×+6.7× | —— | —— |
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.
