Las Vegas Sands (LVS): analysis in plain words
Is Las Vegas Sands cheap or expensive? How it makes money, whether it grows and its risks, explained in plain words and with its official accounts.
Las Vegas Sands (LVS) is listed on the NYSE and we classify it in travel, leisure and gaming. Below are its key dated figures, how it makes money, how it compares with its sector, what works for and against Las Vegas Sands according to those figures, and the questions people ask most about the stock. No buy or sell tips.
Las Vegas Sands (LVS) key figures as of November 4, 2026
| Figure | Value | What it measures |
|---|---|---|
| Share price | $40.74 | Last price on November 4, 2026 |
| P/E ratio (TTM) | 16.7x | Price over earnings per share |
| Revenue growth | -3.5% | Latest quarter vs the same quarter a year earlier |
| Net margin (TTM) | 11.8% | Profit for every 100 of sales |
| Net debt / EBITDA | 2.8x | Years of operating profit to repay debt |
| Dividend yield | 3.14% | Annual dividend over price |
| Market cap | $26.4 billion | What the stock market values it at |
The Las Vegas Sands figures come from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026. Any LVS figure that is not available shows as N/A: we do not estimate it.
How Las Vegas Sands makes money
Las Vegas Sands, despite the name, no longer operates in Las Vegas. It runs integrated resorts in Macao, such as The Venetian Macao and The Londoner, through Sands China, plus Marina Bay Sands in Singapore. Gaming is the main revenue source, followed by hotel rooms, retail malls, dining and convention space.
Over the last 12 months, Las Vegas Sands brought in revenue of $13.6 billion. For every 100 it sells, Las Vegas Sands keeps 78.6 after the direct cost of what it sells (gross margin) and 19.3 after all operating costs (operating margin).
Las Vegas Sands against its sector
To know whether a Las Vegas Sands figure is high or low you have to put it next to similar companies. This table compares Las Vegas Sands with the median of the 13 travel, leisure and gaming companies Fintols covers, with data as of November 4, 2026.
| Figure | Las Vegas Sands | travel, leisure and gaming median |
|---|---|---|
| P/E | 16.7x | 17.8x (13) |
| Revenue growth | -3.5% | +8.8% (14) |
| Net margin | 11.8% | 11.6% (14) |
| Dividend yield | 3.14% | 1.31% (14) |
| Net debt / EBITDA | 2.8x | 2.8x (14) |
In short, against the typical travel, leisure and gaming company, Las Vegas Sands grows more slowly and pays a higher dividend yield. By size, Las Vegas Sands ranks number 9 of 11 travel, leisure and gaming companies quoted in USD on Fintols.
The bull case for Las Vegas Sands
These are the strengths in the Las Vegas Sands figures as of November 4, 2026:
- Las Vegas Sands earns 207.1% a year on its shareholders' money (return on equity).
- Las Vegas Sands generates real cash: $2.1 billion of free cash flow over 12 months, 8.0% of its stock market value.
The main risk for Las Vegas Sands
Las Vegas Sands stock sits 42% below its 52-week high ($70.45): the market has cut its expectations, and it is worth understanding why first.
And, like the rest of travel, leisure and gaming, Las Vegas Sands is exposed to people travelling and spending less on leisure if the economy worsens, plus fuel prices.
Frequently asked questions about Las Vegas Sands
Is it a good time to buy Las Vegas Sands stock?
Fintols does not tell you whether to buy or sell Las Vegas Sands, and nobody knows what the price will do tomorrow. What we can show you is where it stands today. As of November 4, 2026, Las Vegas Sands stock trades at $40.74, 42% below its 52-week high ($70.45) and 16% above its low ($35.03). Its P/E is 16.7x against a travel, leisure and gaming median of 17.8x, and 13.2x on the earnings analysts expect over the next 12 months. With Las Vegas Sands, as with any stock, timing matters less than understanding the business, investing for the long run and not betting everything on a single company.
Does Las Vegas Sands pay a dividend?
Yes. As of November 4, 2026, Las Vegas Sands pays $1.20 per share a year, which at today's price is a yield of 3.14%. It uses 47% of its profit to pay it, which leaves room to keep paying it if profit dips.
Is Las Vegas Sands stock expensive?
It depends on what you compare it with. On P/E, Las Vegas Sands trades at 16.7x its last 12 months of earnings: in line with the travel, leisure and gaming median (17.8x). A high P/E alone does not make Las Vegas Sands expensive: it can be justified if earnings grow fast, and a low one can reflect a business in trouble.
Who are Las Vegas Sands's competitors?
On Fintols we compare Las Vegas Sands with Southwest Airlines, DraftKings and Aena, which are also in travel, leisure and gaming. As of November 4, 2026, Southwest Airlines is worth $22.7 billion and trades on a P/E of 22.6; DraftKings is worth $11.5 billion; Aena is worth €42.3 billion and trades on a P/E of 14.0. Each has a side-by-side comparison with Las Vegas Sands below.
Las Vegas Sands competitors
- Southwest Airlines (LUV) analysis · Las Vegas Sands vs Southwest Airlines comparison
- DraftKings (DKNG) analysis · Las Vegas Sands vs DraftKings comparison
- Aena (AENA) analysis · Las Vegas Sands vs Aena comparison
To understand Las Vegas Sands better
- How to Read a Balance Sheet: A Beginner's Guide
- Dividend Growth Investing: FCF Payout Ratio and Compounding
More companies like Las Vegas Sands: travel, leisure and gaming stocks and S&P 500 companies. Open the full LVS analysis with its valuation and scenarios. Educational content about Las Vegas Sands, not investment advice.