LAS VEGAS SANDS CORP

EDGAR

Annual consolidated revenue for 2025: about USD 13.02B, using the latest reported figures. The previous period, 2024, was about USD 11.3B.

Watchlist

Latest quarter

Revenue

3.22 billion USD

2026 Q3 · USD

Exact inputs and evidence
  • Revenue: 3216000000 USD Source

Operating margin

19.22%

2026 Q3 · %

Exact inputs and evidence
  • Operating Income: 618000000 USD Source
  • Revenue: 3216000000 USD Source

Operating cash flow

870 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 2283000000 USD Source
  • Operating Cash Flow: 1413000000 USD Source

Free cash flow

589 million USD

2026 Q3 · USD

Exact inputs and evidence
  • Operating Cash Flow: 2283000000 USD Source
  • Operating Cash Flow: 1413000000 USD Source
  • Capital Expenditure: 807000000 USD Source
  • Capital Expenditure: 526000000 USD Source
Cash and cash equivalents
2.86 billion USD Source
Exact value

2858000000 USD

Long-term debt including current maturities
Not available
Shares outstanding
627 million shares Source
Exact value

627000000 shares

Reported share-count change

-7.52% · -51 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 678000000 shares · 2025-09-30· Source
  • 627000000 shares · 2026-09-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

13.6 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Revenue: 3649000000 USD · 2025-10-01 – 2025-12-31 Source
  • Revenue: 3585000000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 3154000000 USD · 2026-04-01 – 2026-06-30 Source
  • Revenue: 3216000000 USD · 2026-07-01 – 2026-09-30 Source

Net income

1.61 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Net income: 395000000 USD · 2025-10-01 – 2025-12-31 Source
  • Net income: 567000000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 346000000 USD · 2026-04-01 – 2026-06-30 Source
  • Net income: 304000000 USD · 2026-07-01 – 2026-09-30 Source

Operating cash flow

3.49 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 3023000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 1819000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 731000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 1413000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 731000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2283000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 1413000000 USD · 2026-01-01 – 2026-06-30 Source

Capital expenditure

1.08 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Capital expenditure: 1168000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 894000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 194000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 526000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 194000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 807000000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 526000000 USD · 2026-01-01 – 2026-06-30 Source

Free cash flow

2.41 billion USD

2025-10-01 – 2026-09-30

Exact inputs and evidence
  • Operating cash flow: 3023000000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 1819000000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 731000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 1413000000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 731000000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2283000000 USD · 2026-01-01 – 2026-09-30 Source
  • Operating cash flow: 1413000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 1168000000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 894000000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 194000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 526000000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 194000000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 807000000 USD · 2026-01-01 – 2026-09-30 Source
  • Capital expenditure: 526000000 USD · 2026-01-01 – 2026-06-30 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-28.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +15.2%

    Prior period

    USD 11.3 billion

    –

    Current period

    USD 13.02 billion

    –

    Exact inputs and evidence

    13017000000 − 11298000000 = 1719000000 USD

    11298000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    13017000000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +12.5%

    Prior period

    USD 1.45 billion

    –

    Current period

    USD 1.63 billion

    –

    Exact inputs and evidence

    1627000000 − 1446000000 = 181000000 USD

    1446000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1627000000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    -5.6%

    Prior period

    USD 3.2 billion

    –

    Current period

    USD 3.02 billion

    –

    Exact inputs and evidence

    3023000000 − 3204000000 = -181000000 USD

    3204000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3023000000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -25.5%

    Prior period

    USD 1.57 billion

    –

    Current period

    USD 1.17 billion

    –

    Exact inputs and evidence

    1168000000 − 1567000000 = -399000000 USD

    1567000000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    1168000000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 13.02 billion 100% of revenue
  • Operating costs Derived USD 10.2 billion 78% of revenue
  • Operating income USD 2.82 billion 22% of revenue
  • Tax, interest and other Derived USD 1.19 billion 9.1% of revenue
  • Net income USD 1.63 billion 12% of revenue

Cash

  • Operating cash flow USD 3.02 billion 23% of revenue
  • Capital expenditure USD 1.17 billion 9% of revenue
  • Free cash flow Derived USD 1.86 billion 14% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 15%78%
  • 2017 22%73%
  • 2018 18%9.7%73%
  • 2019 22%72%
  • 2020 Operating loss: operating costs were 147% of revenue.
  • 2021 Operating loss: operating costs were 116% of revenue.
  • 2022 Operating loss: operating costs were 119% of revenue.
  • 2023 12%11%78%
  • 2024 13%79%
  • 2025 12%9.1%78%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-3111271000000 8769000000 Derived 2502000000 823000000 Derived 1679000000 2646000000 Derived
Source
2017 2017-01-01 – 2017-12-3112728000000 9264000000 Derived 3464000000 656000000 Derived 2808000000 3706000000 Derived
Source
2018 2018-01-01 – 2018-12-3113729000000 9978000000 Derived 3751000000 1338000000 Derived 2413000000 3752000000 Derived
Source
2019 2019-01-01 – 2019-12-3112127000000 8762000000 Derived 3365000000 667000000 Derived 2698000000 1785000000 Derived
Source
2020 2020-01-01 – 2020-12-312940000000 4333000000 Derived -1393000000 292000000 Derived -1685000000 -2418000000 Derived
Source
2021 2021-01-01 – 2021-12-314234000000 4923000000 Derived -689000000 272000000 Derived -961000000 -1071000000 Derived
Source
2022 2022-01-01 – 2022-12-314110000000 4902000000 Derived -792000000 -2624000000 Derived 1832000000 -1595000000 Derived
Source
2023 2023-01-01 – 2023-12-3110372000000 8059000000 Derived 2313000000 1092000000 Derived 1221000000 2210000000 Derived
Source
2024 2024-01-01 – 2024-12-3111298000000 8896000000 Derived 2402000000 956000000 Derived 1446000000 1637000000 Derived
Source
2025 2025-01-01 – 2025-12-3113017000000 10199000000 Derived 2818000000 1191000000 Derived 1627000000 1855000000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 13B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.14.8B11.1B7.4B3.7B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue11271000000
2017Revenue12728000000
2018Revenue13729000000
2019Revenue12127000000
2020Revenue2940000000
2021Revenue4234000000
2022Revenue4110000000
2023Revenue10372000000
2024Revenue11298000000
2025Revenue13017000000

Revenue growth

Change in revenue from the same financial period one year earlier.

15.2% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.171%104%38%-28%-94%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year-3.6%
2017Year over year12.9%
2018Year over year7.9%
2019Year over year-11.7%
2020Year over year-75.8%
2021Year over year44%
2022Year over year-2.9%
2023Year over year152.4%
2024Year over year8.9%
2025Year over year15.2%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 21.6% 2025
Net margin 12.5% 2025
Free cash flow margin 14.3% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.55%18%-19%-56%-92%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin22.2%
2017Operating margin27.2%
2018Operating margin27.3%
2019Operating margin27.7%
2020Operating margin-47.4%
2021Operating margin-16.3%
2022Operating margin-19.3%
2023Operating margin22.3%
2024Operating margin21.3%
2025Operating margin21.6%
2016Net margin14.9%
2017Net margin22.1%
2018Net margin17.6%
2019Net margin22.2%
2020Net margin-57.3%
2021Net margin-22.7%
2022Net margin44.6%
2023Net margin11.8%
2024Net margin12.8%
2025Net margin12.5%
2016Free cash flow margin23.5%
2017Free cash flow margin29.1%
2018Free cash flow margin27.3%
2019Free cash flow margin14.7%
2020Free cash flow margin-82.2%
2021Free cash flow margin-25.3%
2022Free cash flow margin-38.8%
2023Free cash flow margin21.3%
2024Free cash flow margin14.5%
2025Free cash flow margin14.3%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 3B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.2B3.5B1.8B46.3M-1.7B201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow4044000000
2017Operating cash flow4543000000
2018Operating cash flow4701000000
2019Operating cash flow2803000000
2020Operating cash flow-1191000000
2021Operating cash flow-243000000
2022Operating cash flow-944000000
2023Operating cash flow3227000000
2024Operating cash flow3204000000
2025Operating cash flow3023000000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 1.9B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.2B2.5B667.0M-1.1B-2.9B201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow2646000000
2017Free cash flow3706000000
2018Free cash flow3752000000
2019Free cash flow1785000000
2020Free cash flow-2418000000
2021Free cash flow-1071000000
2022Free cash flow-1595000000
2023Free cash flow2210000000
2024Free cash flow1637000000
2025Free cash flow1855000000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

91.2% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.98%74%49%25%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets63.4%
2017Liabilities / assets63.1%
2018Liabilities / assets70.1%
2019Liabilities / assets72%
2020Liabilities / assets83%
2021Liabilities / assets88.8%
2022Liabilities / assets83.4%
2023Liabilities / assets81.2%
2024Liabilities / assets84.7%
2025Liabilities / assets91.2%

Current assets to current liabilities

Current assets divided by current liabilities.

1.14× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.2.32×1.74×1.16×0.58×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities1.1×
2017Current assets / current liabilities1.08×
2018Current assets / current liabilities1.76×
2019Current assets / current liabilities1.65×
2020Current assets / current liabilities2.03×
2021Current assets / current liabilities2.15×
2022Current assets / current liabilities1.73×
2023Current assets / current liabilities1.31×
2024Current assets / current liabilities0.74×
2025Current assets / current liabilities1.14×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
USD 1.68 billion
Exact value

Exact value: 1679000000 USD

2016-01-01 – 2016-12-31: 1679000000 USD Inspect Net Income Open source
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USD 4.04 billion
Exact value

Exact value: 4044000000 USD

2016-01-01 – 2016-12-31: 4044000000 USD Inspect Operating Cash Flow Open source
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USD 1.4 billion
Exact value

Exact value: 1398000000 USD

2016-01-01 – 2016-12-31: 1398000000 USD Inspect Capital Expenditure Open source
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USD 2.65 billion
Calculation and evidence

4044000000 − 1398000000 USD

Exact free cash flow: 2646000000 USD

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2017 2017-01-01 – 2017-12-31
USD 2.81 billion
Exact value

Exact value: 2808000000 USD

2017-01-01 – 2017-12-31: 2808000000 USD Inspect Net Income Open source
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USD 4.54 billion
Exact value

Exact value: 4543000000 USD

2017-01-01 – 2017-12-31: 4543000000 USD Inspect Operating Cash Flow Open source
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USD 837 million
Exact value

Exact value: 837000000 USD

2017-01-01 – 2017-12-31: 837000000 USD Inspect Capital Expenditure Open source
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USD 3.71 billion
Calculation and evidence

4543000000 − 837000000 USD

Exact free cash flow: 3706000000 USD

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2018 2018-01-01 – 2018-12-31
USD 2.41 billion
Exact value

Exact value: 2413000000 USD

2018-01-01 – 2018-12-31: 2413000000 USD Inspect Net Income Open source
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USD 4.7 billion
Exact value

Exact value: 4701000000 USD

2018-01-01 – 2018-12-31: 4701000000 USD Inspect Operating Cash Flow Open source
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USD 949 million
Exact value

Exact value: 949000000 USD

2018-01-01 – 2018-12-31: 949000000 USD Inspect Capital Expenditure Open source
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USD 3.75 billion
Calculation and evidence

4701000000 − 949000000 USD

Exact free cash flow: 3752000000 USD

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2019 2019-01-01 – 2019-12-31
USD 2.7 billion
Exact value

Exact value: 2698000000 USD

2019-01-01 – 2019-12-31: 2698000000 USD Inspect Net Income Open source
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USD 2.8 billion
Exact value

Exact value: 2803000000 USD

2019-01-01 – 2019-12-31: 2803000000 USD Inspect Operating Cash Flow Open source
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USD 1.02 billion
Exact value

Exact value: 1018000000 USD

2019-01-01 – 2019-12-31: 1018000000 USD Inspect Capital Expenditure Open source
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USD 1.79 billion
Calculation and evidence

2803000000 − 1018000000 USD

Exact free cash flow: 1785000000 USD

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2020 2020-01-01 – 2020-12-31
−USD 1.69 billion
Exact value

Exact value: -1685000000 USD

2020-01-01 – 2020-12-31: -1685000000 USD Inspect Net Income Open source
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−USD 1.19 billion
Exact value

Exact value: -1191000000 USD

2020-01-01 – 2020-12-31: -1191000000 USD Inspect Operating Cash Flow Open source
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USD 1.23 billion
Exact value

Exact value: 1227000000 USD

2020-01-01 – 2020-12-31: 1227000000 USD Inspect Capital Expenditure Open source
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−USD 2.42 billion
Calculation and evidence

-1191000000 − 1227000000 USD

Exact free cash flow: -2418000000 USD

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2021 2021-01-01 – 2021-12-31
−USD 961 million
Exact value

Exact value: -961000000 USD

2021-01-01 – 2021-12-31: -961000000 USD Inspect Net Income Open source
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−USD 243 million
Exact value

Exact value: -243000000 USD

2021-01-01 – 2021-12-31: -243000000 USD Inspect Operating Cash Flow Open source
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USD 828 million
Exact value

Exact value: 828000000 USD

2021-01-01 – 2021-12-31: 828000000 USD Inspect Capital Expenditure Open source
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−USD 1.07 billion
Calculation and evidence

-243000000 − 828000000 USD

Exact free cash flow: -1071000000 USD

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2022 2022-01-01 – 2022-12-31
USD 1.83 billion
Exact value

Exact value: 1832000000 USD

2022-01-01 – 2022-12-31: 1832000000 USD Inspect Net Income Open source
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−USD 944 million
Exact value

Exact value: -944000000 USD

2022-01-01 – 2022-12-31: -944000000 USD Inspect Operating Cash Flow Open source
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USD 651 million
Exact value

Exact value: 651000000 USD

2022-01-01 – 2022-12-31: 651000000 USD Inspect Capital Expenditure Open source
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−USD 1.6 billion
Calculation and evidence

-944000000 − 651000000 USD

Exact free cash flow: -1595000000 USD

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2023 2023-01-01 – 2023-12-31
USD 1.22 billion
Exact value

Exact value: 1221000000 USD

2023-01-01 – 2023-12-31: 1221000000 USD Inspect Net Income Open source
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USD 3.23 billion
Exact value

Exact value: 3227000000 USD

2023-01-01 – 2023-12-31: 3227000000 USD Inspect Operating Cash Flow Open source
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USD 1.02 billion
Exact value

Exact value: 1017000000 USD

2023-01-01 – 2023-12-31: 1017000000 USD Inspect Capital Expenditure Open source
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USD 2.21 billion
Calculation and evidence

3227000000 − 1017000000 USD

Exact free cash flow: 2210000000 USD

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2024 2024-01-01 – 2024-12-31
USD 1.45 billion
Exact value

Exact value: 1446000000 USD

2024-01-01 – 2024-12-31: 1446000000 USD Inspect Net Income Open source
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USD 3.2 billion
Exact value

Exact value: 3204000000 USD

2024-01-01 – 2024-12-31: 3204000000 USD Inspect Operating Cash Flow Open source
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USD 1.57 billion
Exact value

Exact value: 1567000000 USD

2024-01-01 – 2024-12-31: 1567000000 USD Inspect Capital Expenditure Open source
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USD 1.64 billion
Calculation and evidence

3204000000 − 1567000000 USD

Exact free cash flow: 1637000000 USD

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2025 2025-01-01 – 2025-12-31
USD 1.63 billion
Exact value

Exact value: 1627000000 USD

2025-01-01 – 2025-12-31: 1627000000 USD Inspect Net Income Open source
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USD 3.02 billion
Exact value

Exact value: 3023000000 USD

2025-01-01 – 2025-12-31: 3023000000 USD Inspect Operating Cash Flow Open source
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USD 1.17 billion
Exact value

Exact value: 1168000000 USD

2025-01-01 – 2025-12-31: 1168000000 USD Inspect Capital Expenditure Open source
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USD 1.86 billion
Calculation and evidence

3023000000 − 1168000000 USD

Exact free cash flow: 1855000000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

104 filings · 30,217 latest values · 30,238 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001300514, 1300514, LVS, edgar:1300514

Also known as LAS VEGAS SANDS CORP, LAS VEGAS SANDS CORP., Las Vegas Sands Corp