Companies / Consumer Discretionary
LVS
Las Vegas Sands
Casinos & Gaming
Casinos & GamingAnalysis in progress
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Business at a glance
Operating-health scores describe reported fundamentals on a 0–100 scale. They are not a rating of the stock. How they work
Operating health71
Growth83
Profitability64
Cash generation76
Balance sheet32
Dilution control100
Key ratios and five-year financials
Latest quarter revenue YoY (2026-09-30)-3.5%Revenue growth (FY)15.2%Revenue CAGR (3y)46.9%Gross margin—Operating margin21.6%Net margin12.5%Free cash flow margin14.3%R&D / revenue2.1%Stock comp / revenue0.4%Net debt / operating cash flow3.58xCurrent ratio1.14Diluted share count change-6.0%
| Fiscal year ending | FY 2021-12 | FY 2022-12 | FY 2023-12 | FY 2024-12 | FY 2025-12 |
|---|---|---|---|---|---|
| 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 | -$243M | -$944M | $3.2B | $3.2B | $3.0B |
| Capital expenditure | $828M | $651M | $1.0B | $1.6B | $1.2B |
| Free cash flow | -$1.1B | -$1.6B | $2.2B | $1.6B | $1.9B |
| R&D | $109M | $143M | $205M | $228M | $269M |
| Stock-based comp | $22M | $39M | $44M | $55M | $54M |
| Buybacks | $0 | $0 | $505M | $1.8B | $2.2B |
| Dividends | $0 | $0 | $305M | $590M | $833M |
| Cash | $1.9B | $6.3B | $5.1B | $3.6B | $3.8B |
| Total debt | $14.7B | $13.9B | $12.1B | $10.6B | $14.7B |
| Equity | $2.0B | $3.9B | $4.1B | $2.9B | $1.6B |
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