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Las Vegas Sands LVS Return on invested capital

Return on invested capital at other companies

VICI Properties Inc. logo
VICI Properties Inc.VICI
8.6%+0.9pp
Host Hotels & Resorts logo
Host Hotels & ResortsHST
7.6%-0.4pp
Flutter Entertainment logo
Flutter EntertainmentFLUT
-0.6%-6.8pp

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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Operating margin22.7%+2.2pp
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 return on invested capital?
Las Vegas Sands (LVS) reported return on invested capital of 16.6% in Q1 2026.
How has Las Vegas Sands's return on invested capital changed year-over-year?
Las Vegas Sands's return on invested capital increased by 31.1% year-over-year, from 12.6% to 16.6%.
What is the long-term trend for Las Vegas Sands's return on invested capital?
Over 4 years (2021 to 2025), Las Vegas Sands's return on invested capital has grown at a 22.9% compound annual growth rate (CAGR), from -25.1% to 57.3%.
What does return on invested capital mean?
The after-tax return the business earns on all the capital — debt and equity — invested in it.
How do you interpret return on invested capital?
The cleanest measure of business quality: ROIC sustained above the cost of capital creates value, below it destroys value. Compare against WACC, not against zero.
How does return on invested capital compare across companies?
Highly comparable across companies as a quality screen. Sector-sensitive definitions of invested capital mean banks/insurers are best excluded.