Las Vegas Sands Corp (LVS)

Consumer Discretionary · Casinos & Gaming · US stock · S&P 500 component

$36.53 ▼ -0.98 (2.61%)

At close 22 Oct 2026 · USD · Volume 11,389,414

Compare with WYNN

Interactive chart Research report Forecast ranges Pro workspace SEC filings Historical data

Fair valueUndervalued

$50 +37.6% to fair value

$25fair band $43–$61$75

Day's range

$35.03 – $37.48

52-week range

$35.03 – $70.45

About Las Vegas Sands Corp

Las Vegas Sands develops and operates integrated resorts that combine casinos, hotels, convention space, shopping and entertainment. Following the sale of its Las Vegas properties, its operations are centered on Macao and Singapore, where it runs large resorts such as The Venetian Macao and Marina Bay Sands. Revenue comes from gaming, room rentals, retail mall rents, food and beverage, and convention business, and it depends on tourism and visitor spending.

The figures show revenue of $13.7 billion for the last twelve months and three-year growth of 46.9% a year. It reports an operating margin of 21.5%. Capital is used to generate a return on invested capital of 20%. Leverage, measured as net debt to EBITDA, is 2.7 times. The company pays a dividend with a yield of 3.1%. The site's X-Ray Score for the company is 64 out of 100.

Price chart

Interactive chart Historical data & CSV

52-wk range $35.03 – $70.45Volume 11,389,414Daily, split-adjusted

Vitals

Market cap$24.0B

52-week range$35.03 – $70.45

Volume (last day)11,389,414

P/E (TTM)14.3

EBIT / EV yield8.2%

Free-cash-flow yield11.3%

Dividend yield3.1%

Revenue (TTM)$13.7B

Net income (TTM)$1.7B

Operating margin21.5%

Return on capital19.7%

Debt incl. leases$15.3B

Cash & securities$3.4B

Debt = borrowings plus lease liabilities. Cash & securities = cash, equivalents and short-term marketable securities (long-term securities are not counted, so net cash can be understated for companies that hold large long-term investments). Net debt = debt minus cash & securities. Source: latest SEC 10-Q/10-K. EBIT / EV yield = operating profit divided by market cap plus net debt.

Fair value estimate

$50middle half of models $46 – $54

Undervalued +37.6% to fair value

Average of the 11 valuation models that pass our checks: multiples, discounted cash flow, dividend discount and earnings power value. A model more than 100% above or 60% below the price is left out as unrealistic. Model uncertainty is High, based on how far apart the models are. Undervalued or Overvalued means the gap to fair value is more than 17.5%.

Peak-cycle earnings: the current operating margin is more than 1.5x its 7-year average, so multiples applied to today's profit may overstate value; model uncertainty is set to High

Price $37

Undervalued < $43Fair $43 – $61Overvalued > $61

P/E multiple

$40

P/B multiple

$20

P/S multiple

$50

EV/EBITDA multiple

$46

EV/EBIT multiple

$50

EV/revenue multiple

$47

10-year DCF, EBITDA exit · not used

$84

5-year DCF, EBITDA exit

$72

10-year DCF, revenue exit · not used

$86

5-year DCF, revenue exit · not used

$74

10-year DCF, growth exit · not used

$81

5-year DCF, growth exit

$70

Dividend discount, stable

$52

Dividend discount, multi-stage

$57

Earnings power value

$50

Growth the price implies

3.1%/yr

A model estimate, not a price target or recommendation. Inputs: risk-free 5.13%, equity risk premium 4.30% (Damodaran). How it works.

What this means

Average business at a low price

Our models put fair value above today's price, but models can be wrong, so check the business first. A high score does not guarantee a good outcome; it shifts the odds a little. Use the checklist as a prompt for your own research.

Before you invest · decision checklist

I understand how this company makes money Business quality is average or better ✓ 51 The price is not above fair value $50 fair value Debt looks manageable 2.7× EBITDA Revenue has been growing 46.9% a year Profits are backed by cash There are no red flags none raised I know what share of my savings this would be

Ticked boxes are filled in from our data; the rest are yours to answer.

The five-lens scan

Every score explained in one sentence, ranked against Consumer Discretionary peers. Open a lens to see the numbers behind it.

Strong: 70 to 100Fair: 50 to 69Weak: under 50No score: not enough data

Valuation Strong

90/100

Cheap against its sector on earnings and cash flow.

See the numbers →

EBIT / EV yield8.2%

Free-cash-flow yield11.3%

Fair value vs price1.4×

Growth Fair

64/100

Growing at a typical pace for its sector.

See the numbers →

Revenue growth (3y)46.9%

EPS growth (3y)-0.7%

Growth consistency60%

Profitability Fair

53/100

Returns on capital are typical for its sector.

See the numbers →

Return on invested capital19.7%

Operating margin21.5%

Financial health Weak

50/100

Balance sheet is more stretched than most peers.

See the numbers →

Piotroski F-Score8 / 9

Net debt / EBITDA2.7×

Interest cover3.9×

Dividends Fair

57/100

Dividend is typical for its sector.

See the numbers →

Dividend yield3.1%

Dividends vs free cash flow28%

Quarterly results: last 6 quarters

-3.3%

Mar '25

+15.0%

Jun '25

+24.2%

Sep '25

+26.0%

Dec '25

+25.3%

Mar '26

-0.7%

Jun '26

Revenue against the same quarter a year earlier. Latest quarter revenue $3.2B, diluted EPS $0.53.

Compare with peers

WYNN Wynn Resorts Ltd51 MGM MGM Resorts Internatio...40

Other Casinos & Gaming companies by X-Ray Score.

SWOT analysis: Las Vegas Sands Corp

Strengthsinside the company

Operating margin of 21.5% is well above the 14.8% median of sector peers, a sign of pricing power or lower costs.
Revenue has grown 46.9% a year over three years (median 6.4% for sector peers).
Free cash flow equals 11.3% of the market value, which funds dividends, buybacks or debt paydown.
Passes 8 of the 9 Piotroski tests, which points to improving profitability, funding and efficiency.

Weaknessesinside the company

No clear weakness in the figures we track.

Opportunitiesvaluation and setting

Dividends use only 28% of free cash flow, which leaves room to raise them.
Trades at 13.9x earnings, 34% below the 21.1x median of sector peers.
The price is 38% below our fair value estimate, with the gap larger than the margin we allow for error.

Threatsvaluation and setting

Revenue growth slowed to 15.2% last year from 46.9% a year over three years.
Valuation uncertainty is high: the models give widely different values, so the fair value range is wide.
The price trend is down on the daily and weekly signals.

Written by fixed rules from the figures on this page and the peer table below: filings, our fair value, the sector climate and the price trend. It summarises the data, it is not a forecast or advice.

Compare LVS with peers and sector

Medians of 46 Consumer Discretionary peers and of 46 Consumer Discretionary stocks in our universe. Largest peers (X-Ray Score): AMZN 42, TSLA 28, HD 40, MCD 53, TJX 55, BKNG 70.

Metric	LVS	Peers	Sector
X-Ray Score (out of 100)	64	50	50
Valuation	90	48	48
Growth	64	50	50
Profitability	53	52	52
Financial health	50	49	49
Dividends	57	51	51

Sector leaders: highest X-Ray Score in Consumer Discretionary

LVS ranks #4 of 47 in Consumer Discretionary by X-Ray Score. A higher score is stronger on our five pillars; it is a ranking of facts, not a forecast.

Company	X-Ray Score
#1 DECK Deckers Outdoor Corp	85
#2 LULU lululemon athletica inc.	76
#3 BKNG Booking Holdings Inc.	70
#4 LVS Las Vegas Sands Corp (this stock)	64
#5 CMG Chipotle Mexican Grill Inc	64

Metric	LVS	Peers	Sector
P/E ratio	13.9x	21.1x	21.1x
PEG ratio	–	1.93	1.93
Price / book	41.2x	6.9x	6.9x
Price / sales	1.7x	2.2x	2.2x
EV / EBITDA	8.2x	15.1x	15.1x
Price / free cash flow	8.9x	22.9x	22.9x
Dividend yield	3.1%	1.9%	1.9%
Gap to our fair value	+37.6%	+3.5%	+3.5%

Metric	LVS	Peers	Sector
Price change, 1 month	−8.0%	+4.8%	+4.8%
Price change, 3 months	−18.8%	+0.1%	+0.1%
Price change, 6 months	−35.0%	−2.6%	−2.6%
Price change, 1 year	−26.3%	−6.9%	−6.9%

Metric	LVS	Peers	Sector
Market value	$24.0B	$42.3B	$42.3B
Revenue (last 12 months)	$13.7B	$18.2B	$18.2B
EBITDA (last 12 months)	$4.4B	$2.8B	$2.8B
Net income (last 12 months)	$1.7B	$1.7B	$1.7B
Free cash flow (last 12 months)	$2.7B	$1.7B	$1.7B

Metric	LVS	Peers	Sector
Revenue growth, last year	+15.2%	+4.9%	+4.9%
Revenue growth, 3 years a year	+46.9%	+6.4%	+6.4%
EPS growth, 3 years a year	−0.7%	+5.2%	+5.2%
Free cash flow growth, 3 years a year	–	+12.1%	+12.1%
Dividend growth	–	+6.4%	+6.4%

Metric	LVS	Peers	Sector
Gross margin	–	42.5%	42.5%
EBITDA margin	32.0%	17.7%	17.7%
Operating margin	21.5%	14.8%	14.8%
Net margin	12.6%	11.4%	11.4%
Return on invested capital	19.7%	24.9%	24.9%
Return on equity	297.2%	34.5%	34.5%

Metric	LVS	Peers	Sector
Net debt / EBITDA	2.7x	1.6x	1.6x
Interest cover	3.9x	28.1x	28.1x
Current ratio	1.0x	1.1x	1.1x
Piotroski F-score (0 to 9)	8	6	6

Green means better than the peer median, red worse (only where a higher or lower figure is clearly better). A dash means too few companies report the figure. P/E, EV/EBITDA and price changes are not graded: a different level is not good or bad by itself.

Factor ratings for LVS

Each factor is rated by where LVS stands among the 47 Consumer Discretionary stocks in our universe.

Rating against the sector

Goodthe top third of these stocks

Averagethe middle third of these stocks

Badthe bottom third of these stocks

"Beats" is the share of those stocks it is ahead of.

Against its own history

The last columns set today's figure against the company's own median of its last five financial years:

▲ Betterbetter than its usual level

▼ Worseworse than its usual level

≈ In linewithin its usual range

For valuation factors Good means cheaper than most of the sector and Better means cheaper than usual for this company, which is not the same as a bargain.

In total: 11 Good · 7 Average · 2 Bad of 20 Growth: 2 · 1 · 0 Profitability: 2 · 2 · 0 Financial strength: 1 · 2 · 1 Valuation: 3 · 1 · 1 Cash flow: 3 · 0 · 0 Efficiency: 0 · 1 · 0

Factor	LVS	Rating	Sector median	Own 5-year median	Against own history
Growth
Revenue growth, 3 years a year	+46.9%	Good beats 99%	+6.5%	–	–
Revenue growth, last year	+15.2%	Good beats 95%	+4.9%	+15.2%	≈ In line
EPS growth, 3 years a year	−0.7%	Average beats 38%	+4.0%	–	–
Profitability
Operating margin	21.5%	Good beats 81%	14.9%	21.3%	≈ In line
Net margin	12.6%	Average beats 66%	11.4%	12.5%	≈ In line
Return on invested capital	19.7%	Average beats 39%	24.6%	–	–
Return on equity	297.2%	Good beats 99%	35.3%	47.2%	▲ Better
Financial strength
Net debt / EBITDA	2.7x	Average beats 35%	1.8x	2.8x	≈ In line
Interest cover	3.9x	Bad beats 10%	25.3x	2.8x	▲ Better
Current ratio	1.00	Average beats 34%	1.10	1.31	▼ Worse
Piotroski F-score	8 / 9	Good beats 92%	6 / 9	–	–
Valuation
P/E ratio	13.9x	Good beats 83%	21.1x	27.0x	▲ Better
Price / book	41.2x	Bad beats 1%	7.2x	13.1x	▼ Worse
Price / sales	1.7x	Average beats 63%	2.1x	3.6x	▲ Better
EV / EBITDA	8.2x	Good beats 81%	15.0x	13.3x	▲ Better
Free cash flow yield	11.3%	Good beats 88%	4.3%	4.3%	▲ Better
Cash flow
Free cash flow margin	19.7%	Good beats 82%	10.8%	14.5%	▲ Better
Cash from operations / net income	2.16	Good beats 74%	1.37	2.22	≈ In line
Accruals (lower is better)	−10.1%	Good beats 90%	−5.3%	–	–
Efficiency
Days sales outstanding	17 days	Average beats 42%	14 days	17 days	≈ In line

These ratings compare companies with each other and describe the past; they are not a forecast, a recommendation or part of the X-Ray Score. A factor is left out when its data is missing or meaningless (for example a P/E on negative earnings). A dash in the history columns means fewer than three usable years.

Fundamentals checklist

● 7 Good · ● 5 Average · ● 2 Bad

Cash quality

Earnings backed by cashGood

Free-cash-flow yieldGood

Risk models

Altman Z''Average

Piotroski F-ScoreGood

Growth

EPS growth (3y)Average

Revenue growth (3y)Good

Growth consistencyBad

Balance sheet

Current ratioAverage

Net debt / EBITDAAverage

Interest coverBad

Valuation

Fair value vs priceGood

EBIT / EV yieldGood

Profitability

Return on invested capitalAverage

Operating marginGood

Each check is graded against the company's sector, not a fixed number. Checklist score 63/100.

Financials

	FY21	FY22	FY23	FY24	FY25
Revenue	$4.2B	$4.1B	$10.4B	$11.3B	$13.0B
Operating income	−$689M	−$792M	$2.3B	$2.4B	$2.8B
Net income	−$961M	$1.8B	$1.2B	$1.4B	$1.6B
Operating cash flow	–	–	$3.2B	$3.2B	$3.0B
Operating margin	-16.3%	-19.3%	22.3%	21.3%	21.6%
Free cash flow	–	–	$2.2B	$1.6B	$1.9B
Diluted EPS	$-1.26	$2.40	$1.60	$1.96	$2.35

Fiscal years, from SEC filings.

Technical summary

Daily

Strongly bearish

1 bullish · 4 neutral · 11 bearish

Weekly

Strongly bearish

1 bullish · 0 neutral · 11 bearish

Monthly

Strongly bearish

0 bullish · 1 neutral · 7 bearish

Moving averages (daily)

SMA 10	37.29	Bearish
EMA 10	37.37	Bearish
SMA 20	37.23	Bearish
EMA 20	37.87	Bearish
SMA 50	41.08	Bearish
EMA 50	40.36	Bearish
SMA 100	44.15	Bearish
EMA 100	43.55	Bearish
SMA 200	49.29	Bearish
EMA 200	46.96	Bearish

Oscillators (daily)

RSI (14)	34.68	Neutral
MACD (12, 26)	-0.95	Bearish
Momentum (12)	0.61	Bullish
Stochastic %K (14)	42.13	Neutral
Williams %R (14)	-57.87	Neutral
CCI (20)	-68.41	Neutral

Pivot points (classic, last session)

32.76

33.90

35.21

Pivot

36.35

37.66

38.80

40.11

Signals describe what the chart is doing, not what to do. Moving averages: price above the average is bullish. Oscillators use the usual thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20; MACD and momentum above zero are bullish). Weekly and monthly views use closing prices only.

Dividends

Paid, last 12 months

1.15 USD

Yield on today's price

3.15%

Frequency

Quarterly

Next ex-dividend date

Not announced

Ex-dividend date	Amount per share
4 Aug 2026	0.3000
5 May 2026	0.3000
9 Feb 2026	0.3000
4 Nov 2025	0.2500
5 Aug 2025	0.2500
6 May 2025	0.2500
10 Feb 2025	0.2500
5 Nov 2024	0.2000
6 Aug 2024	0.2000
6 May 2024	0.2000
5 Feb 2024	0.2000
6 Nov 2023	0.2000

Ex-dividend dates and amounts from EODHD. Shown as declared, before tax.

ETFs that hold LVS

ETF	Share of the fund
RPG Invesco S&P 500 Pure Growth	1.13%
COWZ Pacer US Cash Cows 100	0.64%
FMDE Fidelity Enhanced Mid Cap	0.43%
WTV WisdomTree U.S. Quality Shareholder Yi...	0.35%
IWP iShares Russell Mid-Cap Growth	0.35%
BKDV BNY Mellon Dynamic Value	0.35%
XLY Consumer Discretionary Select Sector S...	0.34%
VOT Vanguard Mid-Cap Growth	0.30%

The eight funds with the largest weight in LVS among the ETFs we cover, from each fund's latest SEC Form N-PORT (quarter-end positions, so they can be months old). All ETFs.