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NYSE · HOTELS & MOTELS · LARGE CAP

LAS Vegas Sands Corp. LVS

18 fiscal years on record · USD · FY2025 reported · SEC filings only
$13.0B
▲ 15.2% YoY
$1.6B
▲ 12.5% YoY
$1.9B
▲ 13.3% YoY
In brief

What this company does

Through its 74.80% ownership of Sands China Ltd., it owns and operates a collection of Integrated Resorts in the Macao Special Administrative Region of the People's Republic of China, including The Venetian Macao Resort Hotel, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, and the Sands Macao. In Singapore, it owns and operates Marina Bay Sands, one of Singapore's major tourist, business and retail destinations. Its Integrated Resorts in Macao and Singapore contributed 44% and 56%, respectively, of its total adjusted property EBITDA during 2025. LVSC was incorporated in Nevada in August 2004.

Written from the business description in LAS VEGAS SANDS CORP.'s annual report to the U.S. Securities and Exchange Commission, filed 6 February 2026. Every sentence was checked against that document before publication.

Growth
USD 13.0B
Revenue, FY2025 · full 18-year series below
Revenue $B Net income $B
FY2025 · Revenue 13.0 · Net income 1.6
5.0B10.0B-0.8B-1.6B2008201120142017202020232025
Compound annual growth
+46.9%
+34.7%
+1.1%
+4.4%
−3.9%
−1.9%
+6.9%
−0.7%
−0.5%
+10.7%
+4.8%
−9.1%
+25.1%
−0.4%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +34.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
14 cents
of every revenue dollar became profit
Operating margin Net margin
FY2025 · Operating 21.6% · Net 14.3%
10%20%30%-20%-40%-60%2008201120142017202020232025
ROE
FY2025 · ROE 72.7%
20%40%60%-20%-40%2008201120142017202020232025
Gross margin—
Operating margin21.6%
Net margin14.3%
Return on assets8.8%
EBITDA—

Each USD of equity produced 73 cents of profit this year.

Cash & shareholders
USD 2.8B
returned in FY2025 · dividends + net buybacks
Free cash flow $B
FY2025 · FCF 1.9
2B-2B2008201120142017202020232025
Net buybacks $B Dividends $B
FY2025 · Dividends 0.8 · Net buybacks 2.0
2BDividendsNet buybacks20112013201520172019202120232025
Dividends paidUSD 833.0M
Net buybacksUSD 2.0B
Share of profit171.2%
Consecutive raises2 years

USD 833.0M in dividends and USD 2.0B in buybacks — 171% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 21.9B
EquityUSD 1.6B
CashUSD 3.8B
Gross debtUSD 14.7B
Net debtUSD 10.8B
Current ratio1.14×

Net debt stands at 680% of equity.

The 18-year record
18 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 202520242023202220212020201920182017201620152014201320122011201020092008
Revenue $B13.011.310.44.14.22.912.113.712.711.311.714.613.811.19.46.94.64.4
Operating income $B2.82.42.3−0.8−0.7−1.43.43.83.52.52.84.13.42.32.41.2−0.00.2
EBITDA $B··················
Income tax $B0.30.20.30.2−0.00.00.40.4−0.20.20.20.20.20.20.20.1−0.0−0.1
Net income $B1.61.41.21.8−1.0−1.72.72.42.81.72.02.82.31.51.60.6−0.4−0.2
Free cash flow $B1.91.62.2−1.6−1.1−2.41.83.83.72.61.93.73.51.61.2−0.2−1.5−3.7
EPS, diluted $2.351.961.602.40−1.26−2.213.503.073.552.112.473.522.791.851.560.51−0.82−0.48
Dividend / sh $1.000.800.40··0.793.083.002.922.882.602.001.403.75····
Payout %5141250−0−54111123105174138·······
ROE %72.741.330.562.3−38.7−41.349.639.744.325.828.038.231.320.421.59.6−6.1·
Shares out B0.680.720.750.760.760.760.760.780.790.800.800.800.820.820.730.710.660.64

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Compare

This company against its peers

LAS Vegas Sands Corp.vsMarriott International Inc.Same industry: Hotels & MotelsLAS Vegas Sands Corp.vsMGM Resorts InternationalSame industry: Hotels & MotelsLAS Vegas Sands Corp.vsHilton Worldwide Holdings Inc.Same industry: Hotels & MotelsLAS Vegas Sands Corp.vsCaesars Entertainment, Inc.Same industry: Hotels & MotelsLAS Vegas Sands Corp.vsWynn Resorts Ltd.Same industry: Hotels & MotelsLAS Vegas Sands Corp.vsHyatt Hotels Corp.Same industry: Hotels & MotelsLAS Vegas Sands Corp.vsPenn Entertainment, Inc.Same industry: Hotels & Motels
Provenance
Company facts, as filed
How we verify · 0 failures in 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 6 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityHotels & Motels
Listed onNYSE
Incorporated inNevada
Fiscal year endsDecember 31
Data on record since2008

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