Las Vegas SandsLVSRevenue: is the business selling more than it used to?
$13.0B+15% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Revenue reached $13.0B in 2025, compounding +47% a year since 2022 and the pace is picking up. The last twelve months (+18%) ran below that pace, so growth is slowing. The trailing twelve months are already running at $13.7B, ahead of the last full year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSNet income: how much of that revenue becomes profit?
$1.6B+13% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Net income was $1.6B in 2025, compounding -4% a year over three years. Trailing twelve-month profit stands at $1.7B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSHow fast is it growing, year by year?
+15.2%revenue growth, FY 2025
→Revenue grew +15% in 2025 against a five-year average of +44%. Earnings grew more slowly (+13%), so costs are absorbing part of the growth.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSRevenue per share: is your slice growing as fast as the company?
$18.78revenue per share, FY 2025
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Revenue per share reached $18.78 in 2025, compounding +52% a year against +47% for LVS as a whole. Buybacks added roughly 4.9 points to your per-share result. Free cash flow per share stands at $2.68.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSFree cash flow: what is left in real cash after everything?
$1.9B+13% YoYFY 2025
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→Free cash flow was $1.9B in 2025. The trailing twelve months stand at $2.7B.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSHow much of every sales dollar ends up as free cash?
◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year
→14 cents of every sales dollar became free cash in 2025, up 53 points since 2022.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSWhat does staying competitive cost, per dollar of sales?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The biggest claim on each sales dollar is capital spending, at 9% of revenue (research and development 2%, stock compensation 0%). That share has fallen since 2022, so the cost of competing is easing.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSWhen sales grow, do profits grow faster?
→Operating profit outgrew revenue in 3 of the last 5 years, most recently +17% against +15%. Each additional dollar of sales is landing more profitably than the last - the definition of operating leverage.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSMargins: of every $1 of sales, how much survives each cost layer?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→Operating margin widened 41 points to 22% since 2022. After everything, 12 cents of each sales dollar reaches net profit. LVS doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSWhat does it earn on the money it uses?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→ROE of 297% sits well above ROCE of 16%. A meaningful share of the shareholder return is manufactured with leverage rather than operations.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSWhat has the market paid for LVS over time?
17.8xP/E today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→At 17.8x earnings, the market is paying about what it has typically paid LVS's own 9-year median of 18.6x. Neither a bargain nor a stretch by its own standard.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSWhat cash return does the business throw off per dollar of market value?
9.4%FCF yield today
◌ 2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages
→Every dollar of market value currently buys 9.4% of annual free cash flow, more than its 11-year median of 5.6% - the cash is cheaper than usual.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSCould it handle its debt if things went wrong?
→Debt of $13.7B sits against $3.4B of cash, or 23.6x shareholders' equity. Earnings cover interest 3.9 times - adequate, with less room than it looks in a downturn.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSIs the company's own capital growing?
→The company's own capital shrank from $4.1B in 2023 to $581M (-86%). Buybacks or losses are drawing the buffer down - the distinction matters.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSHow much goes back, and how much leaks out as stock comp?
→Shareholders received $2.2B in buybacks and $833M in dividends in 2025. Stock compensation issued $54M of new shares in the same year, offsetting 2% of that.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSHow fast is your ownership being diluted - or concentrated?
→The share count shrank 6.0% in 2025, averaging 3.2% a year over three years. Buybacks are concentrating your ownership: the same business, split fewer ways.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSIs the dividend cheque growing?
→The dividend per share reached $1.20 in 2025, compounding +0% a year since 2020.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSCan it afford the dividend?
◌ 2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year
→The dividend consumed 51% of profit and 45% of free cash flow in 2025. That leaves room to keep paying through a weak year.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSDoes LVS earn more on its capital than that capital costs?
→LVS earns 15.9% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSLVS has issued or retired shares - did shareholders end up better off?
→LVS has shrunk its share count -15% from 2011 to 2025, so each remaining share owns more of the business. Revenue per share is +62% over the same years.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30
Las Vegas SandsLVSAre the people running it buying or selling?
→Insiders sold $243M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 48 filings were grants, option exercises or tax withholding, which say nothing either way.
Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30