LVS vs MGM
LAS Vegas Sands Corp. and MGM Resorts International, side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | LVS | MGM |
|---|---|---|
| Revenue | $13.0B | $17.5B |
| Net income | $1.6B | $205.9M |
| Gross margin | · | · |
| Net margin | 14.3% | 3.0% |
| Return on equity | 72.7% | 7.5% |
| Diluted EPS | $2.35 | $0.76 |
| Dividend / share | $1.00 | · |
| Payout ratio | 51.2% | · |
| Free cash flow | $1.9B | $1.5B |
| Equity | $1.6B | $2.4B |
| Net debt / equity | 6.80× | 1.71× |
| Current ratio | 1.14× | 1.23× |
| Revenue CAGR 5y | 34.7% | 27.7% |
| Profit CAGR 5y | · | · |
MGM bills 1.3× the revenue of LVS, and LVS keeps more of each dollar of revenue as profit (14.3% against 3.0%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | LVS | MGM |
|---|---|---|
| FY2025 | $13.0B | $17.5B |
| FY2024 | $11.3B | $17.2B |
| FY2023 | $10.4B | $16.2B |
| FY2022 | $4.1B | $13.1B |
| FY2021 | $4.2B | $9.7B |
| FY2020 | $2.9B | $5.2B |
| FY2019 | $12.1B | $12.9B |
| FY2018 | $13.7B | $11.8B |
| FY2017 | $12.7B | $10.8B |
| FY2016 | $11.3B | $9.5B |
Bottom line
| Fiscal year | LVS | MGM |
|---|---|---|
| FY2025 | $1.6B | $205.9M |
| FY2024 | $1.4B | $746.6M |
| FY2023 | $1.2B | $1.1B |
| FY2022 | $1.8B | $1.5B |
| FY2021 | $-961.0M | $1.3B |
| FY2020 | $-1.7B | $-1.0B |
| FY2019 | $2.7B | $2.0B |
| FY2018 | $2.4B | $466.8M |
| FY2017 | $2.8B | $2.0B |
| FY2016 | $1.7B | $1.1B |
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$4,520,683,000 | MGM |
| FY2024 | −$5,942,545,000 | MGM |
| FY2023 | −$5,792,249,000 | MGM |
| FY2022 | −$9,017,485,000 | MGM |
| FY2021 | −$5,446,140,000 | MGM |
| FY2020 | −$2,222,082,000 | MGM |
| FY2019 | −$772,672,000 | MGM |
| FY2018 | +$1,965,904,000 | LVS |
| FY2017 | +$1,930,521,000 | LVS |
| FY2016 | +$1,792,731,000 | LVS |
| FY2015 | +$2,497,932,000 | LVS |
| FY2014 | +$4,502,016,000 | LVS |
| FY2013 | +$3,960,222,000 | LVS |
| FY2012 | +$1,970,288,000 | LVS |
| FY2011 | +$1,561,433,000 | LVS |
| FY2010 | +$797,181,000 | LVS |
| FY2009 | −$1,447,483,000 | MGM |
| FY2008 | −$2,818,821,000 | MGM |
The higher-revenue side has changed between LVS and MGM over this period. The gap has widened since the earliest year compared.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
18 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +11.4 pp | LVS |
| FY2024 | +9.3 pp | LVS |
| FY2023 | +5.7 pp | LVS |
| FY2022 | +31.4 pp | LVS |
| FY2021 | −42.6 pp | MGM |
| FY2020 | −47.3 pp | MGM |
| FY2019 | +10.1 pp | LVS |
| FY2018 | +16.5 pp | LVS |
| FY2017 | +6.3 pp | LVS |
| FY2016 | +4.9 pp | LVS |
| FY2015 | +31.7 pp | LVS |
| FY2014 | +23.3 pp | LVS |
| FY2013 | +21.0 pp | LVS |
| FY2012 | +34.6 pp | LVS |
| FY2011 | −21.2 pp | MGM |
| FY2010 | +35.1 pp | LVS |
| FY2009 | +13.4 pp | LVS |
| FY2008 | +8.0 pp | LVS |
The higher net margin has changed hands between LVS and MGM over this period.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LVS's net margin has been more volatile than MGM's over the 18 comparable fiscal years — 24.6 percentage points of standard deviation against 16.8.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between LVS and MGM over these 18 fiscal years — LVS led in 15 and MGM in 3.
18 of 18 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
LVS's return on equity has been more volatile than MGM's over the 17 comparable fiscal years — 29.8 percentage points of standard deviation against 27.4.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between LVS and MGM over these 17 fiscal years — LVS led in 14 and MGM in 3.
17 of 18 comparable fiscal years — a year missing data on either side is not counted.