Las Vegas Sands (LVS) stock
Consumer Discretionary · Casinos & Gaming
Las Vegas Sands (LVS) is a Casinos & Gaming company in the Consumer Discretionary sector, headquartered in Las Vegas, Nevada. As of October 23, 2026, LVS closed at $35.68, a market capitalization of $23.11 billion, the 376th largest company in the S&P 500. Over the last twelve months it generated $13.60 billion in revenue (-4% year over year) and $2.70 billion in free cash flow. The stock trades at 14.6x trailing earnings and 11.2x forward earnings.
- 1-year total return: -35.9% (dividends reinvested)
- 5-year return: +0.0% a year
- 52-week range: $35.03 – $70.45
- Gross margin 78.6%, operating margin 19.3%
- Dividend yield: 3.36%, 1 straight years of increases
- FI Handbook report card: B across 10 metrics
- 31st largest of 47 Consumer Discretionary stocks in the S&P 500
LVS price chart
1Y price change: -37.3% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| LVS | -9.0% | -44.2% | -35.9% | -6.6% | +0.0% | -2.3% | +0.9% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2004.
LVS key statistics
- Market cap
- $23.1B
- #376 in S&P 500
- P/E (TTM)
- 14.6x
- Forward P/E
- 11.2x
- EPS (TTM)
- $2.44
- Revenue (TTM)
- $13.6B
- -4%
- Free cash flow
- $2.7B
- Gross margin
- 78.6%
- Operating margin
- 19.3%
- Return on equity
- 207.1%
- Dividend yield
- 3.36%
- 52-week range
- $35.03 – $70.45
- Beta
- 0.77
- Price / sales
- 1.7x
- EV / EBITDA
- 7.9x
- Debt / equity
- —
- Employees
- 41,000
LVS report card
BTen fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth-3.5%F
- Gross margin78.6%A
- Operating margin19.3%C
- FCF margin19.8%B
- Return on equity207.1%A
- Net debt / EBITDA2.8xD
- Forward P/E11.2xA
- PEG ratio0.8xA
- Shareholder yield13.0%A
- Share count change / yr-1.9%B
Las Vegas Sands financials
Revenue went from $11.3B in fiscal 2016 to $13.0B in fiscal 2025, growing 1.6% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.3B | $12.7B | $13.7B | $12.1B | $2.9B | $4.2B | $4.1B | $10.4B | $11.3B | $13.0B |
| Operating income | $2.5B | $3.5B | $3.8B | $3.4B | -$1.4B | -$689.0M | -$792.0M | $2.3B | $2.4B | $2.8B |
| Net income | $1.7B | $2.8B | $2.4B | $2.7B | -$1.7B | -$961.0M | $1.8B | $1.2B | $1.4B | $1.6B |
| EPS (diluted) | $2.11 | $3.55 | $3.07 | $3.50 | $-2.21 | $-1.26 | $2.40 | $1.60 | $1.96 | $2.35 |
| Free cash flow | $2.6B | $3.7B | $3.8B | $2.0B | -$2.5B | — | — | $2.2B | $1.6B | $1.9B |
| Buybacks | $0 | $375.0M | $905.0M | $754.0M | $0 | $0 | $0 | $505.0M | $1.8B | $2.2B |
| Dividends paid | $2.9B | $2.9B | $3.0B | $3.0B | $911.0M | $0 | $0 | $305.0M | $590.0M | $833.0M |
| Diluted shares | 795.0M | 792.0M | 786.0M | 771.0M | 764.0M | 764.0M | 764.0M | 765.0M | 737.0M | 693.0M |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into LVS?
A reverse DCF asks what growth the current price requires. With an enterprise value of $35.7B and $2.7B of trailing free cash flow, Las Vegas Sands needs to grow free cash flow about 0.4% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew -13.1% a year over the last five years.
P/E ratio history
Current 15.2x vs. median 23.3x (10th–90th percentile 14.5x–36.9x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
LVS dividend
- Dividend yield
- 3.36%
- Annual dividend
- $1.20
- Years of increases
- 1
- 5-yr dividend growth
- -19.7%
- per year
- Payout ratio
- 43%
- Payments per year
- 4
Regular dividends per share by calendar year; special dividends excluded. Current year omitted until complete.
LVS analyst price targets
19 analysts' average 12-month target is $50.09 (+40% vs. $35.68). Targets range from $37.00 to $61.00. 67% rate it a buy.
LVS earnings
Next report: January 27, 2027.
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Oct 21, 2026 | $0.68 | $0.54 | -21.0% |
| Jul 22, 2026 | $0.76 | $0.59 | -22.0% |
| Apr 22, 2026 | $0.76 | $0.91 | +20.1% |
| Jan 28, 2026 | $0.77 | $0.85 | +10.5% |
| Oct 22, 2025 | $0.62 | $0.78 | +25.4% |
| Jul 23, 2025 | $0.53 | $0.79 | +48.9% |
| Apr 23, 2025 | $0.57 | $0.59 | +3.8% |
| Jan 29, 2025 | $0.58 | $0.54 | -6.3% |
Stocks like LVS
| Name | Today | 1Y | Mkt cap | P/E | |
|---|---|---|---|---|---|
 WYNN Wynn Resorts | -3.19% | -41% | $7.5B | 17.4x | Compare |
 MGM MGM Resorts International | -4.88% | -15% | $7.2B | 17.3x | Compare |
 AMZN Amazon.com | -0.95% | +12% | $2.7T | 20.0x | Compare |
 TSLA Tesla | -0.63% | -17% | $1.5T | 409.0x | Compare |
 HD Home Depot | -2.41% | -15% | $319.1B | 21.5x | Compare |
 MCD McDonald's | -1.65% | -17% | $175.8B | 20.2x | Compare |
 TJX TJX Companies | -1.57% | +3% | $159.6B | 26.9x | Compare |
 BKNG Booking Holdings Inc. Common St | -3.27% | -23% | $117.1B | 17.3x | Compare |
LVS news
- Bear of the Day: Las Vegas Sands (LVS) · Oct 23, 2026
- Dollar General and Las Vegas Sands have been highlighted as Zacks Bull and Bear of the Day · Oct 23, 2026
- Surprised By Las Vegas Sands' Slide? What Investors Missed · Oct 22, 2026
- LVS Q3 Earnings & Revenues Miss on Soft Premium Gaming & Higher Costs · Oct 22, 2026
- Las Vegas Sands Disappoints on China, Destination Gaming Weakness · Oct 22, 2026
LVS stock FAQ
What is LVS's market cap?
Las Vegas Sands's market capitalization is $23.11 billion as of October 23, 2026, ranking 376th in the S&P 500.
What is LVS's P/E ratio?
LVS trades at a trailing price-to-earnings ratio of 14.6x and a forward P/E of 11.2x. Its median P/E over the period we track is 23.3x.
Does LVS pay a dividend?
Yes. Las Vegas Sands pays $1.20 per share a year, a 3.36% yield. It has raised its dividend 1 years in a row. Dividends fell 19.7% a year over the last five years.
How much has LVS stock returned?
Including reinvested dividends, LVS returned -35.9% over one year, +0.0% a year over five years, -2.3% a year over ten years through October 23, 2026.
Is LVS stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies Las Vegas Sands must grow free cash flow about 0% a year for the next decade. Its free cash flow fell 13% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
What is the LVS price target?
19 analysts cover LVS with an average 12-month price target of $50.09, +40% from the current price. 67% of them rate it a buy.
When does LVS report earnings?
Las Vegas Sands is expected to report earnings on January 27, 2027.
How many employees does Las Vegas Sands have?
Las Vegas Sands has about 41,000 full-time employees, or $331,805 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology