Recent Insider Transactions • May 01
Director recently sold Mex$11m worth of stock On the 27th of April, Charles Forman sold around 11k shares on-market at roughly Mex$940 per share. This transaction amounted to 6.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$79m more than they bought in the last 12 months. Declared Dividend • Apr 27
First quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 5th May 2026 Payment date: 13th May 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (41% earnings payout ratio) and cash flows (35% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 41% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 23
First quarter 2026 earnings released: EPS: US$0.85 (vs US$0.49 in 1Q 2025) First quarter 2026 results: EPS: US$0.85 (up from US$0.49 in 1Q 2025). Revenue: US$3.59b (up 25% from 1Q 2025). Net income: US$567.0m (up 61% from 1Q 2025). Profit margin: 16% (up from 12% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Apr 16
Las Vegas Sands Corp. to Report Q1, 2026 Results on Apr 22, 2026 Las Vegas Sands Corp. announced that they will report Q1, 2026 results at 4:00 PM, US Eastern Standard Time on Apr 22, 2026 Announcement • Apr 02
Las Vegas Sands Corp., Annual General Meeting, May 14, 2026 Las Vegas Sands Corp., Annual General Meeting, May 14, 2026. Declared Dividend • Feb 02
Fourth quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 9th February 2026 Payment date: 18th February 2026 Dividend yield will be 1.6%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (67% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 55% over the next 3 years, which should provide support to the dividend and adequate earnings cover. New Risk • Jan 30
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Shares are highly illiquid. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (Mex$38m sold). Announcement • Jan 30
Las Vegas Sands Corp. announces Quarterly dividend, payable on February 18, 2026 Las Vegas Sands Corp. announced Quarterly dividend of USD 0.3000 per share payable on February 18, 2026, ex-date on February 09, 2026 and record date on February 09, 2026. Reported Earnings • Jan 30
Full year 2025 earnings released: EPS: US$2.36 (vs US$1.97 in FY 2024) Full year 2025 results: EPS: US$2.36 (up from US$1.97 in FY 2024). Revenue: US$13.0b (up 15% from FY 2024). Net income: US$1.63b (up 13% from FY 2024). Profit margin: 13% (in line with FY 2024). Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Announcement • Jan 22
Las Vegas Sands Corp. to Report Q4, 2025 Results on Jan 28, 2026 Las Vegas Sands Corp. announced that they will report Q4, 2025 results at 4:00 PM, US Eastern Standard Time on Jan 28, 2026 Recent Insider Transactions • Dec 04
Director recently sold Mex$38m worth of stock On the 1st of December, Irwin Chafetz sold around 30k shares on-market at roughly Mex$1,275 per share. This transaction amounted to 30% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$48m more than they bought in the last 12 months. Declared Dividend • Oct 27
Third quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 4th November 2025 Payment date: 12th November 2025 Dividend yield will be 1.4%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (45% earnings payout ratio) and cash flows (56% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 70% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 23
Third quarter 2025 earnings released: EPS: US$0.61 (vs US$0.38 in 3Q 2024) Third quarter 2025 results: EPS: US$0.61 (up from US$0.38 in 3Q 2024). Revenue: US$3.33b (up 24% from 3Q 2024). Net income: US$419.0m (up 52% from 3Q 2024). Profit margin: 13% (up from 10% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Announcement • Oct 16
Las Vegas Sands Corp. to Report Q3, 2025 Results on Oct 22, 2025 Las Vegas Sands Corp. announced that they will report Q3, 2025 results After-Market on Oct 22, 2025 Recent Insider Transactions • Sep 19
Director recently sold Mex$20m worth of stock On the 10th of September, Charles Forman sold around 20k shares on-market at roughly Mex$1,006 per share. This transaction amounted to 9.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$255m more than they bought in the last 12 months. Recent Insider Transactions • Sep 12
Director recently sold Mex$20m worth of stock On the 10th of September, Charles Forman sold around 20k shares on-market at roughly Mex$1,006 per share. This transaction amounted to 9.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$255m more than they bought in the last 12 months. Recent Insider Transactions • Aug 09
Director recently sold Mex$9.8m worth of stock On the 6th of August, Charles Forman sold around 10k shares on-market at roughly Mex$979 per share. This transaction amounted to 4.6% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of Mex$235m more than they bought in the last 12 months. Announcement • Jul 25
Las Vegas Sands Corp. announces Quarterly dividend, payable on August 13, 2025 Las Vegas Sands Corp. announced Quarterly dividend of USD 0.2500 per share payable on August 13, 2025, ex-date on August 05, 2025 and record date on August 05, 2025. Reported Earnings • Jul 24
Second quarter 2025 earnings released: EPS: US$0.66 (vs US$0.48 in 2Q 2024) Second quarter 2025 results: EPS: US$0.66 (up from US$0.48 in 2Q 2024). Revenue: US$3.18b (up 15% from 2Q 2024). Net income: US$461.0m (up 31% from 2Q 2024). Profit margin: 14% (up from 13% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.6% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Jul 17
Las Vegas Sands Corp. to Report Q2, 2025 Results on Jul 23, 2025 Las Vegas Sands Corp. announced that they will report Q2, 2025 results After-Market on Jul 23, 2025 New Risk • May 27
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Mexican stocks, typically moving 8.2% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (8.2% average weekly change). Minor Risks High level of debt (352% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to Mex$830, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 17x in the Hospitality industry globally. Total returns to shareholders of 29% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$1,222 per share. Declared Dividend • Apr 28
First quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 6th May 2025 Payment date: 14th May 2025 Dividend yield will be 1.9%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is covered by both earnings (50% earnings payout ratio) and cash flows (60% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 64% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 24
First quarter 2025 earnings released: EPS: US$0.49 (vs US$0.66 in 1Q 2024) First quarter 2025 results: EPS: US$0.49 (down from US$0.66 in 1Q 2024). Revenue: US$2.86b (down 3.3% from 1Q 2024). Net income: US$352.0m (down 29% from 1Q 2024). Profit margin: 12% (down from 17% in 1Q 2024). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 6.5% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 104% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Apr 24
Las Vegas Sands Corp. Announces Quarterly Dividend, Payable on May 14, 2025 Las Vegas Sands Corp. announced next quarterly dividend of $0.25 per common share will be paid on May 14, 2025, to Las Vegas Sands stockholders of record on May 6, 2025. Announcement • Apr 17
Las Vegas Sands Corp. to Report Q1, 2025 Results on Apr 23, 2025 Las Vegas Sands Corp. announced that they will report Q1, 2025 results After-Market on Apr 23, 2025 Valuation Update With 7 Day Price Move • Apr 07
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to Mex$659, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 17x in the Hospitality industry globally. Total loss to shareholders of 3.0% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at Mex$1,185 per share. Announcement • Apr 05
Las Vegas Sands Corp., Annual General Meeting, May 15, 2025 Las Vegas Sands Corp., Annual General Meeting, May 15, 2025. Announcement • Mar 13
Las Vegas Sands Corp. Appoints Mark Besca to Serve as the Chair of the Compliance Committee and as A Member of the Audit Committee On January 27, 2025, Las Vegas Sands Corp. filed a Current Report on Form 8-K to disclose that on January 27, 2025, the Company’s Board of Directors (the “Board”) elected Mark Besca as a new member of the Board, effective immediately. Mr. Besca had not been appointed to any committee of the Board as of the Original Report. The Company is filing this amendment to the Original Report to disclose that on March 11, 2025, the Board appointed Mr. Besca to serve as the Chair of the Board’s Compliance Committee and as a member of the Board’s Audit Committee, effective immediately. Announcement • Mar 12
Las Vegas Sands Corp. Appoints Muktesh "Micky" Pant as New Member of the Board and Member of the Board's Nominating and Governance Committee and Compliance Committee On March 11, 2025, Las Vegas Sands Corp.'s (the Company's) Board of Directors elected Muktesh "Micky" Pant as a new member of the Board, effective immediately. The Board also appointed Mr. Pant to serve as a member of the Board's Nominating and Governance Committee and Compliance Committee, effective immediately. New Risk • Feb 11
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 2.4% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Minor Risks High level of debt (316% net debt to equity). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (Mex$92m sold). Declared Dividend • Feb 04
Fourth quarter dividend of US$0.25 announced Shareholders will receive a dividend of US$0.25. Ex-date: 10th February 2025 Payment date: 19th February 2025 Dividend yield will be 1.2%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (43% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 52% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jan 31
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 9.6% to Mex$949. The fair value is estimated to be Mex$1,194, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 6.3% per annum. Earnings are also forecast to grow by 14% per annum over the same time period. Reported Earnings • Jan 30
Full year 2024 earnings released: EPS: US$1.97 (vs US$1.60 in FY 2023) Full year 2024 results: EPS: US$1.97 (up from US$1.60 in FY 2023). Revenue: US$11.3b (up 8.9% from FY 2023). Net income: US$1.45b (up 18% from FY 2023). Profit margin: 13% (up from 12% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 108% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Announcement • Jan 23
Las Vegas Sands Corp. to Report Q4, 2024 Results on Jan 29, 2025 Las Vegas Sands Corp. announced that they will report Q4, 2024 results After-Market on Jan 29, 2025 Board Change • Jan 10
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was an independent director. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-Employee Director Alain Li was the last independent director to join the board, commencing their role in 2024. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. New Risk • Dec 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Mexican stocks, typically moving 6.0% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (6.0% average weekly change). Minor Risks High level of debt (265% net debt to equity). Significant insider selling over the past 3 months (Mex$245m sold). Recent Insider Transactions • Dec 03
Executive VP recently sold Mex$27m worth of stock On the 27th of November, D. Hudson sold around 26k shares on-market at roughly Mex$1,061 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth Mex$128m. Insiders have been net sellers, collectively disposing of Mex$268m more than they bought in the last 12 months. Recent Insider Transactions • Nov 13
Chairman recently sold Mex$25m worth of stock On the 7th of November, Robert Goldstein sold around 24k shares on-market at roughly Mex$1,033 per share. This transaction amounted to 29% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth Mex$128m. Robert has been a net seller over the last 12 months, reducing personal holdings by Mex$240m. Recent Insider Transactions • Nov 02
Chairman recently sold Mex$128m worth of stock On the 29th of October, Robert Goldstein sold around 119k shares on-market at roughly Mex$1,075 per share. This transaction amounted to 59% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Robert has been a net seller over the last 12 months, reducing personal holdings by Mex$215m. Declared Dividend • Oct 28
Third quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 5th November 2024 Payment date: 13th November 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (40% earnings payout ratio) and cash flows (37% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 63% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: US$0.38 (vs US$0.50 in 3Q 2023) Third quarter 2024 results: EPS: US$0.38 (down from US$0.50 in 3Q 2023). Revenue: US$2.68b (down 4.0% from 3Q 2023). Net income: US$275.0m (down 28% from 3Q 2023). Profit margin: 10% (down from 14% in 3Q 2023). Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 107% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Oct 24
Las Vegas Sands Corp. Announces Quarterly Dividend, Payable on November 13, 2024 Las Vegas Sands Corp. announced quarterly dividend of $0.20 per common share will be paid on November 13, 2024, to Las Vegas Sands stockholders of record on November 5, 2024. Announcement • Oct 17
Las Vegas Sands Corp. to Report Q3, 2024 Results on Oct 23, 2024 Las Vegas Sands Corp. announced that they will report Q3, 2024 results After-Market on Oct 23, 2024 Valuation Update With 7 Day Price Move • Sep 26
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to Mex$955, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 17x in the Hospitality industry globally. Total returns to shareholders of 28% over the past three years. New Risk • Sep 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Mexican stocks, typically moving 5.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (231% net debt to equity). Share price has been volatile over the past 3 months (5.1% average weekly change). Declared Dividend • Jul 29
Second quarter dividend of US$0.20 announced Shareholders will receive a dividend of US$0.20. Ex-date: 6th August 2024 Payment date: 14th August 2024 Dividend yield will be 1.4%, which is lower than the industry average of 2.1%. Sustainability & Growth Dividend is well covered by both earnings (37% earnings payout ratio) and cash flows (26% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 57% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Jul 25
Second quarter 2024 earnings released: EPS: US$0.48 (vs US$0.41 in 2Q 2023) Second quarter 2024 results: EPS: US$0.48 (up from US$0.41 in 2Q 2023). Revenue: US$2.76b (up 8.6% from 2Q 2023). Net income: US$353.0m (up 13% from 2Q 2023). Profit margin: 13% (in line with 2Q 2023). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jul 18
Las Vegas Sands Corp. to Report Q2, 2024 Results on Jul 24, 2024 Las Vegas Sands Corp. announced that they will report Q2, 2024 results After-Market on Jul 24, 2024 New Risk • May 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Mexican stocks, typically moving 5.8% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risk Share price has been highly volatile over the past 3 months (5.8% average weekly change). Minor Risks High level of debt (223% net debt to equity). Significant insider selling over the past 3 months (Mex$87m sold). Upcoming Dividend • Apr 29
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 06 May 2024. Payment date: 15 May 2024. Payout ratio is a comfortable 39% and this is well supported by cash flows. Trailing yield: 1.8%. Lower than top quartile of Mexican dividend payers (6.6%). Lower than average of industry peers (2.8%). Reported Earnings • Apr 18
First quarter 2024 earnings released: EPS: US$0.66 (vs US$0.19 in 1Q 2023) First quarter 2024 results: EPS: US$0.66 (up from US$0.19 in 1Q 2023). Revenue: US$2.96b (up 40% from 1Q 2023). Net income: US$494.0m (up 236% from 1Q 2023). Profit margin: 17% (up from 6.9% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Announcement • Apr 18
Las Vegas Sands Corp. Announces Quarterly Dividend, Payable on May 15, 2024 Las Vegas Sands Corp. announced its next quarterly dividend of $0.20 per common share will be paid on May 15, 2024, to the company's stockholders of record on May 7, 2024. Announcement • Apr 11
Las Vegas Sands Corp. to Report Q1, 2024 Results on Apr 17, 2024 Las Vegas Sands Corp. announced that they will report Q1, 2024 results After-Market on Apr 17, 2024 New Risk • Apr 02
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Mexican stocks, typically moving 4.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (217% net debt to equity). Share price has been volatile over the past 3 months (4.9% average weekly change). Significant insider selling over the past 3 months (Mex$87m sold). Announcement • Mar 29
Las Vegas Sands Corp., Annual General Meeting, May 09, 2024 Las Vegas Sands Corp., Annual General Meeting, May 09, 2024, at 11:00 Pacific Daylight. Agenda: To consider election of directors; to consider ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the year ending December 31, 2024; to consider An advisory (non-binding) vote to approve the compensation of the named executive officers; to consider approval of the amendment and restatement of the 2004 Equity Award Plan; and to consider other business issues. Recent Insider Transactions • Mar 20
Chairman recently sold Mex$87m worth of stock On the 15th of March, Robert Goldstein sold around 100k shares on-market at roughly Mex$869 per share. This transaction amounted to 37% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Announcement • Feb 08
Las Vegas Sands Corp. Declares Quarterly Dividend, Payable on February 14, 2024 Las Vegas Sands Corp. announced next quarterly dividend of $0.20 per common share will be paid on February 14, 2024, to Las Vegas Sands stockholders of record on February 6, 2024. Reported Earnings • Jan 25
Full year 2023 earnings released: EPS: US$1.62 (vs US$1.40 loss in FY 2022) Full year 2023 results: EPS: US$1.62 (up from US$1.40 loss in FY 2022). Revenue: US$10.4b (up 152% from FY 2022). Net income: US$1.22b (up US$2.29b from FY 2022). Profit margin: 12% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Announcement • Jan 19
Las Vegas Sands Corp. Announces Board Changes On January 13, 2024, Nora Jordan notified Las Vegas Sands Corp. that, effective January 22, 2024, she is resigning from the Company’s Board of Directors and David Levi notified the Company that, effective January 22, 2024, he is resigning from the Company’s Board. Mr. Levi’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Additionally, on January 18, 2024, the Company’s Board elected Alain Li as a new member of the Board, effective January 22, 2024. Announcement • Jan 18
Las Vegas Sands Corp. to Report Q4, 2023 Results on Jan 24, 2024 Las Vegas Sands Corp. announced that they will report Q4, 2023 results After-Market on Jan 24, 2024 Buying Opportunity • Nov 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 16%. The fair value is estimated to be Mex$998, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings is also forecast to grow by 31% per annum over the same time period. Upcoming Dividend • Oct 30
Upcoming dividend of US$0.20 per share at 1.7% yield Eligible shareholders must have bought the stock before 06 November 2023. Payment date: 15 November 2023. Payout ratio is a comfortable 45% and this is well supported by cash flows. Trailing yield: 1.7%. Lower than top quartile of Mexican dividend payers (7.6%). Lower than average of industry peers (10.0%). Buying Opportunity • Oct 27
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 12%. The fair value is estimated to be Mex$1,088, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 14% per annum. Earnings is also forecast to grow by 31% per annum over the same time period. Reported Earnings • Oct 20
Third quarter 2023 earnings released: EPS: US$0.50 (vs US$0.31 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.50 (up from US$0.31 loss in 3Q 2022). Revenue: US$2.80b (up 178% from 3Q 2022). Net income: US$380.0m (up US$618.0m from 3Q 2022). Profit margin: 14% (up from net loss in 3Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Announcement • Oct 19
Las Vegas Sands Corp. Announces Quarterly Dividend, Payable on November 15, 2023 Las Vegas Sands Corp. announced its next quarterly dividend of $0.20 per common share will be paid on November 15, 2023, to Las Vegas Sands stockholders of record on November 7, 2023. Announcement • Oct 12
Las Vegas Sands Corp. to Report Q3, 2023 Results on Oct 18, 2023 Las Vegas Sands Corp. announced that they will report Q3, 2023 results After-Market on Oct 18, 2023 Buying Opportunity • Sep 22
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 19%. The fair value is estimated to be Mex$1,001, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 18% per annum. Earnings is also forecast to grow by 40% per annum over the same time period. Upcoming Dividend • Jul 31
Upcoming dividend of US$0.20 per share at 1.4% yield Eligible shareholders must have bought the stock before 07 August 2023. Payment date: 16 August 2023. Trailing yield: 1.4%. Lower than top quartile of Mexican dividend payers (6.4%). Lower than average of industry peers (11%). Announcement • Jul 22
Las Vegas Sands Corp. Reinstates Quarterly Dividend, Payable on August 16, 2023 Las Vegas Sands Corp. announced the resumption of its program to return capital to stockholders. The company's quarterly dividend has been reinstated at $0.20 per common share. The next dividend will be paid on August 16, 2023, to Las Vegas Sands stockholders of record on August 8, 2023. Reported Earnings • Jul 20
Second quarter 2023 earnings released: EPS: US$0.41 (vs US$0.38 loss in 2Q 2022) Second quarter 2023 results: EPS: US$0.41 (up from US$0.38 loss in 2Q 2022). Revenue: US$2.54b (up 143% from 2Q 2022). Net income: US$312.0m (up US$599.0m from 2Q 2022). Profit margin: 12% (up from net loss in 2Q 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 1% per year. Announcement • Jul 13
Las Vegas Sands Corp. to Report Q2, 2023 Results on Jul 19, 2023 Las Vegas Sands Corp. announced that they will report Q2, 2023 results After-Market on Jul 19, 2023 New Risk • Jun 30
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Mexican stocks, typically moving 5.4% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (0.04% operating cash flow to total debt). Share price has been highly volatile over the past 3 months (5.4% average weekly change). Minor Risk Significant insider selling over the past 3 months (Mex$17m sold). Recent Insider Transactions • May 02
Director recently sold Mex$17m worth of stock On the 28th of April, Charles Forman sold around 15k shares on-market at roughly Mex$1,138 per share. This transaction amounted to 6.8% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Apr 21
First quarter 2023 earnings released: EPS: US$0.19 (vs US$0.49 loss in 1Q 2022) First quarter 2023 results: EPS: US$0.19 (up from US$0.49 loss in 1Q 2022). Revenue: US$2.12b (up 125% from 1Q 2022). Net income: US$147.0m (up US$524.0m from 1Q 2022). Profit margin: 6.9% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, earnings per share has fallen by 47% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Board Change • Mar 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 4 highly experienced directors. Independent Non-Employee Director Nora Jordan was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 27
Full year 2022 earnings released: US$1.40 loss per share (vs US$1.51 loss in FY 2021) Full year 2022 results: US$1.40 loss per share (improved from US$1.51 loss in FY 2021). Revenue: US$4.11b (down 2.9% from FY 2021). Net loss: US$1.07b (loss narrowed 7.6% from FY 2021). Revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 73 percentage points per year, which is a significant difference in performance. Announcement • Jan 19
Las Vegas Sands Corp. to Report Q4, 2022 Results on Jan 25, 2023 Las Vegas Sands Corp. announced that they will report Q4, 2022 results After-Market on Jan 25, 2023 Reported Earnings • Oct 21
Third quarter 2022 earnings released: US$0.31 loss per share (vs US$0.61 loss in 3Q 2021) Third quarter 2022 results: US$0.31 loss per share (improved from US$0.61 loss in 3Q 2021). Revenue: US$1.01b (up 17% from 3Q 2021). Net loss: US$238.0m (loss narrowed 49% from 3Q 2021). Revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Hospitality industry in South America. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 21
Second quarter 2022 earnings released: US$0.38 loss per share (vs US$0.30 loss in 2Q 2021) Second quarter 2022 results: US$0.38 loss per share (down from US$0.30 loss in 2Q 2021). Revenue: US$1.05b (down 11% from 2Q 2021). Net loss: US$287.0m (loss widened 25% from 2Q 2021). Over the next year, revenue is forecast to grow 77%, compared to a 37% growth forecast for the industry in Mexico. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 86 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 28
First quarter 2022 earnings released: US$0.49 loss per share (vs US$0.28 loss in 1Q 2021) First quarter 2022 results: US$0.49 loss per share (down from US$0.28 loss in 1Q 2021). Revenue: US$943.0m (down 21% from 1Q 2021). Net loss: US$377.0m (loss widened 75% from 1Q 2021). Over the next year, revenue is forecast to grow 82%, compared to a 51% growth forecast for the industry in Mexico. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 81 percentage points per year, which is a significant difference in performance. Reported Earnings • Jan 28
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: US$1.51 loss per share (up from US$2.21 loss in FY 2020). Revenue: US$4.23b (up 17% from FY 2020). Net loss: US$1.15b (loss narrowed 32% from FY 2020). Revenue missed analyst estimates by 4.0%. Over the next year, revenue is forecast to grow 74%, compared to a 52% growth forecast for the restaurants industry in Mexico. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • Oct 22
Third quarter 2021 earnings released: US$0.61 loss per share (vs US$0.74 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: US$857.0m (up 46% from 3Q 2020). Net loss: US$467.0m (loss narrowed 17% from 3Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Reported Earnings • Jul 24
Second quarter 2021 earnings released: US$0.30 loss per share (vs US$1.07 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$1.17b (up US$1.08b from 2Q 2020). Net loss: US$230.0m (loss narrowed 72% from 2Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 82 percentage points per year, which is a significant difference in performance. Reported Earnings • Apr 26
First quarter 2021 earnings released: US$0.28 loss per share (vs US$0.055 loss in 1Q 2020) The company reported a poor first quarter result with increased losses, weaker revenues and weaker control over costs. First quarter 2021 results: Revenue: US$1.20b (down 16% from 1Q 2020). Net loss: US$216.0m (loss widened 414% from 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance. Is New 90 Day High Low • Feb 20
New 90-day high: Mex$1,233 The company is up 9.0% from its price of Mex$1,129 on 20 November 2020. The Mexican market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Hospitality industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is Mex$1,582 per share. Reported Earnings • Feb 08
Full year 2020 earnings released: US$2.21 loss per share (vs US$3.50 profit in FY 2019) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2020 results: Revenue: US$3.61b (down 74% from FY 2019). Net loss: US$1.69b (down 163% from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 65% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Feb 08
Revenue misses expectations Revenue missed analyst estimates by 2.6%. Over the next year, revenue is forecast to grow 150%, compared to a 33% growth forecast for the Hospitality industry in Mexico. 
