Stock research

Las Vegas Sands Corp. (LVS) Stock Research

Las Vegas Sands develops and operates integrated resorts and casinos concentrated in Macao and Singapore.

For the fiscal year ended December 31, 2025, Las Vegas Sands Corp. reported revenue of $13.0B and net income of $1.6B, with operating cash flow of $3.0B. Source: Form 10-K filed February 6, 2026

SEC data as of

Revenue
$13.0B
FY ending 2025-12-31
Net income
$1.6B
FY ending 2025-12-31
Diluted EPS
$2.35
Net margin
12.5%

Reported SEC XBRL figures. Each metric’s period and original filing are listed below.

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About Las Vegas Sands

Exchange
NYSE: LVS
Sector
Consumer Discretionary
SEC industry
Hotels & Motels (SIC 7011)
Fiscal year end
December 31

LVS key financials

Reported figures from Las Vegas Sands Corp.'s filings, pulled directly from SEC XBRL data rather than a third-party terminal. Each row links to the filing it came from.

MetricValuePeriodSource
Revenue$13.0B2025-01-01 – 2025-12-31SEC filing
Net income$1.6B2025-01-01 – 2025-12-31SEC filing
Operating cash flow$3.0B2025-01-01 – 2025-12-31SEC filing
Diluted EPS$2.352025-01-01 – 2025-12-31SEC filing
Net margin12.5%2025-01-01 – 2025-12-31SEC filing
Shares outstanding672MAs of 2026-02-04SEC filing

Values are as tagged by the issuer in XBRL. Revenue for banks and insurers is net of interest expense where that is the reported line. Fiscal years that do not follow the calendar are shown by their period-end date. No price, market cap, or valuation multiple is shown because Yield Theory does not republish unlicensed market data.

Diluted EPS is the earnings figure behind the price-to-earnings ratio; the P/E multiple compression calculator shows how a change in that multiple moves a share price. Shares outstanding multiplied by the share price gives market capitalization.

What investors should watch in LVS

Las Vegas Sands Corp. sits in Consumer Discretionary. Retail, autos, travel, and restaurants — spending that expands when confidence and real incomes rise, and contracts first when they fall. We have not yet written company-specific drivers for LVS; the forces that matter most for the sector are:

  • ◆Real wage growth and consumer confidence
  • ◆Interest rates on autos and big-ticket credit
  • ◆Inventory cycles and promotional intensity
  • ◆The trade-down between premium and value

Key questions for the LVS thesis

Each question starts with what the filings show, then why it matters. None of these is a rating or a forecast.

Does LVS's reported profit turn into cash?

Operating cash flow was $3.0B, 1.86 times net income of $1.6B, for the fiscal year ended December 31, 2025.

Cash from operations exceeded reported earnings. Non-cash charges such as depreciation, amortization and stock-based compensation usually explain the gap; the cash-flow statement shows which.

Form 10-K filed February 6, 2026

How much of LVS's revenue is left as profit?

Net income was 12.5% of revenue for the fiscal year ended December 31, 2025, based on revenue and net income reported for the same period.

Net margin reflects the business model as much as execution, so compare it with companies in the same SEC industry and read the income statement for one-time items before treating it as a run rate.

Form 10-K filed February 6, 2026

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Congressional trading in LVS

PoliticianTrade dateTypeOwnerAmountSource
Julia Letlow2025-05-08SaleSelf$1,001 - $15,000Filing #20030977
Julie Johnson2025-04-01SaleJoint$1,001 - $15,000Filing #20030296
Julia Letlow2024-10-23PurchaseSelf$1,001 - $15,000Filing #20030977

All verified LVS congressional disclosures

Congressional disclosures are delayed, range-based records—not real-time signals or proof of motive. See the source-linked tracker for scope and limitations.

LVS — frequently asked questions

What does Las Vegas Sands Corp. do?

Las Vegas Sands develops and operates integrated resorts and casinos concentrated in Macao and Singapore.

What were LVS's latest reported annual revenue and net income?

For the fiscal year ended December 31, 2025, Las Vegas Sands Corp. reported revenue of $13.0B and net income of $1.6B, with operating cash flow of $3.0B. The figures come from Las Vegas Sands Corp.'s SEC XBRL filings.

When does Las Vegas Sands Corp.'s fiscal year end?

The SEC lists Las Vegas Sands Corp.'s fiscal year end as December 31.

Do members of Congress trade LVS?

The current verified House and Senate snapshot contains 3 transaction rows for LVS, each linked to the original filing.

Is LVS a good investment?

This page does not rate LVS as a buy or sell. It sets out what Las Vegas Sands Corp. reports, what investors should watch and the questions a thesis has to answer, with links to the SEC filings. It is research, not investment advice.

This page is independent research and educational information, not investment advice or a recommendation to buy or sell any security. Company facts are compiled from public sources. Do your own research.

What do the LVS numbers leave unanswered?

Financials describe the business. The next question is which assumptions an investment thesis depends on. Explore the member reports below for analysis of catalysts, risks, and what would change the view. $39/month or $249/year.

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