analyzeportfolio
NYSE · Consumer Discretionary

LAS VEGAS SANDS CORP (LVS)

As-reported financials and SEC filings for LAS VEGAS SANDS CORP. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About LAS VEGAS SANDS CORP

Las Vegas Sands Corp operates integrated resorts that combine premium accommodations, gaming, entertainment, retail malls, and convention facilities. The company owns and manages properties in Macao and Singapore, serving leisure and business tourists with a focus on the mass market gaming segment. Its resorts include well-known brands such as The Venetian Macao, The Londoner Macao, The Parisian Macao, and Marina Bay Sands in Singapore.

Snapshot

Revenue
$13.02B
Revenue growth (YoY)
15.2%
Net income
$1.63B
Diluted EPS
$2.35
Gross margin
Operating margin
21.6%
Net margin
12.5%
FCF margin
14.3%
ROE
84.1%
net income / fiscal-year-end equity
P/E
17.0×
trailing when available, otherwise FY EPS
Market cap
$28.40B
Long-term debt / equity
7.58×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Las Vegas Sands

  • Revenue grew 15.2% to $13.0B in FY2025, faster than the 8.9% the year before.
  • Operating margin turned positive at 21.6% in FY2025, from a 16.3% operating loss in FY2021.
  • Most recent quarter Q2 FY2026: revenue $3.2B, down 0.7% from Q2 FY2025.
  • Free cash flow was $1.9B in FY2025, 14.3% of revenue.
  • Net income rose 12.5% to $1.6B in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Las Vegas Sands’s fundamentals sit among the 403 Consumer Discretionary companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Operating margin21.6%
93rd percentile of 348
Net margin12.5%
88th percentile of 377
FCF margin14.3%
90th percentile of 351
Revenue growth (YoY)+15.2%
85th percentile of 394
ROE84.1%
97th percentile of 343
P/E17.0×
42nd percentile of 249
Long-term debt / equity7.58×
97th percentile of 234
Short interest3.45d
43rd percentile of 401

Las Vegas Sands’s return on equity of 84.1% ranks in the 97th percentile of the 343 Consumer Discretionary companies reporting it. Las Vegas Sands’s long-term debt to equity of 7.58 ranks in the 97th percentile of the 234 Consumer Discretionary companies reporting it. Las Vegas Sands’s operating margin of 21.6% ranks in the 93rd percentile of the 348 Consumer Discretionary companies reporting it.

No reported insider transactions (codes P/S) in the last 90 days. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 3 of the superinvestors we track (plus 7 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
3
+7 quant / multi-strat
Initiated / added
4
0 new, 4 added
Reduced / exited
5
5 trimmed, 0 exited
Combined position
$1.06B
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ2 2026$418.1M9.1MAdded
AQR Capital ManagementquantQ2 2026$267.5M5.8MReduced
Two Sigma InvestmentsquantQ2 2026$141.1M3.1MReduced
Millennium ManagementquantQ2 2026$82.6M1.8MReduced
Renaissance TechnologiesquantQ2 2026$77.0M1.7MAdded
Citadel AdvisorsquantQ2 2026$21.4M462.2KReduced
Gotham Asset ManagementQ2 2026$20.1M434.4KAdded
Bridgewater AssociatesQ2 2026$18.2M393.7KAdded
Point72 Asset ManagementquantQ2 2026$9.9M213.4KReduced
Dodge & CoxQ2 2026$1.3M28.2KHeld

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
0
Reported activity
Quiet
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-04-27
filed 2026-04-29
Forman Charles DDirectorSell11.4K$54.09$617K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
16.4M
settled 2026-08-14
Change vs prior
+11.3%
vs previous settlement
Days to cover
3.45
at avg daily volume
Avg daily volume
4.7M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1416.4M+11.3%3.45
2026-07-3114.7M-17.0%2.37
2026-07-1517.8M-1.6%4.59
2026-06-3018.1M+18.2%3.37
2026-06-1515.3M-1.2%4.02
2026-05-2915.5M+14.6%3.70
2026-05-1513.5M+12.6%2.65
2026-04-3012.0M-5.2%2.26

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$13.02B$11.30B$10.37B$4.11B$4.23B
Gross profit
Operating income$2.82B$2.40B$2.31B$-792.0M$-689.0M
Net income$1.63B$1.45B$1.22B$1.83B$-961.0M
Diluted EPS$2.35$1.96$1.60$2.40$-1.26

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$3.02B$3.20B$3.23B$-944.0M$-243.0M
Capital expenditure$1.17B$1.57B$1.02B$651.0M$828.0M
Free cash flow$1.85B$1.64B$2.21B$-1.59B$-1.07B

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$3.15B-0.7%$346.0M$0.53
Q1 FY2026$3.58B25.3%$567.0M$0.85
Q4 FY2025$3.65B26.0%$395.0M$0.58
Q3 FY2025$3.33B24.2%$419.0M$0.61
Q2 FY2025$3.17B15.0%$461.0M$0.66
Q1 FY2025$2.86B-3.3%$352.0M$0.49
Q4 FY2024$2.90B-0.7%$324.0M$0.45
Q3 FY2024$2.68B-4.0%$275.0M$0.38

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorConsumer Discretionary
SIC industryHotels & Motels
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2009
SEC CIK1300514

Selected SEC filings

10-K2026-02-06
View on EDGAR →
10-K2025-02-07
View on EDGAR →
10-Q2026-07-24
View on EDGAR →
10-Q2026-04-24
View on EDGAR →
10-Q2025-10-24
View on EDGAR →
10-Q2025-07-25
View on EDGAR →
8-K2026-07-22
View on EDGAR →
8-K2026-05-18
View on EDGAR →

Largest Consumer Discretionary peers

All Consumer Discretionary companies →

Monitor LVS

Get an alert when Las Vegas Sands files something material, see which superinvestors own it, and ask its filings a question with cited answers.

Monitor LVS free

Includes one free filing-grounded research answer. Or check your whole portfolio, no account needed.

Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.