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Las Vegas Sands Valuation

Is LCR undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Sales vs Peers
Price-To-Sales vs Industry
Price-To-Sales vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of LCR when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: LCR (€37.19) is trading below our estimate of fair value (€126.18)

Significantly Below Fair Value: LCR is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for LCR?

Key metric: As LCR is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for LCR. This is calculated by dividing LCR's market cap by their current revenue.
What is LCR's PS Ratio?
PS Ratio	8.4x
Sales	US$4.00b
Market Cap	US$33.57b

LCR key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	10.7x
Enterprise Value/EBITDA	143.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does LCR's PS Ratio compare to its peers?

The above table shows the PS ratio for LCR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	3.1x
TIMA ZEAL Network	6.2x	12.9%	€935.6m
DHER Delivery Hero	1x	11.1%	€11.1b
FLUT Flutter Entertainment	3.6x	11.5%	US$49.1b
EMH pferdewetten.de	1.4x	27.1%	€27.8m
LCR Las Vegas Sands	8.4x	31.6%	€33.6b

Price-To-Sales vs Peers: LCR is expensive based on its Price-To-Sales Ratio (8.4x) compared to the peer average (7.4x).

Price to Sales Ratio vs Industry

How does LCR's PS Ratio compare vs other companies in the DE Hospitality Industry?

2 Companies	Price / Sales	Estimated Growth	Market Cap
MS1 Marley Spoon Group	0.07x	10.0%	US$13.85m
9UX Hostmore	0.0006x	n/a	US$138.43k

No more companies available in this PS range

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: LCR is expensive based on its Price-To-Sales Ratio (8.4x) compared to the European Hospitality industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is LCR's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

LCR PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	8.4x
Fair PS Ratio	16.2x

Price-To-Sales vs Fair Ratio: LCR is good value based on its Price-To-Sales Ratio (8.4x) compared to the estimated Fair Price-To-Sales Ratio (16.2x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.