NYSE:LVS

Stock Analysis Report

Executive Summary

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States.

Snowflake

Fundamentals

Mediocre balance sheet second-rate dividend payer.


Similar Companies

Share Price & News

How has Las Vegas Sands's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: LVS has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-1.6%

LVS

0.03%

US Hospitality

0.4%

US Market


1 Year Return

18.4%

LVS

8.9%

US Hospitality

13.1%

US Market

Return vs Industry: LVS exceeded the US Hospitality industry which returned 8.9% over the past year.

Return vs Market: LVS exceeded the US Market which returned 13.1% over the past year.


Shareholder returns

LVSIndustryMarket
7 Day-1.6%0.03%0.4%
30 Day9.0%3.7%4.0%
90 Day20.9%6.0%7.4%
1 Year24.9%18.4%11.8%8.9%15.6%13.1%
3 Year23.3%6.9%35.4%25.9%48.2%38.6%
5 Year27.1%-0.7%35.5%20.9%62.6%44.6%

Price Volatility Vs. Market

How volatile is Las Vegas Sands's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Las Vegas Sands undervalued compared to its fair value and its price relative to the market?

39.4%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: LVS ($62.16) is trading below our estimate of fair value ($102.52)

Significantly Below Fair Value: LVS is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: LVS is poor value based on its PE Ratio (25.3x) compared to the Hospitality industry average (22.2x).

PE vs Market: LVS is poor value based on its PE Ratio (25.3x) compared to the US market (18.2x).


Price to Earnings Growth Ratio

PEG Ratio: LVS is poor value based on its PEG Ratio (3.3x)


Price to Book Ratio

PB vs Industry: LVS is overvalued based on its PB Ratio (8.9x) compared to the US Hospitality industry average (2.3x).


Next Steps

Future Growth

How is Las Vegas Sands forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

7.6%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: LVS's forecast earnings growth (7.6% per year) is above the savings rate (2.7%).

Earnings vs Market: LVS's earnings (7.6% per year) are forecast to grow slower than the US market (14.3% per year).

High Growth Earnings: LVS's earnings are forecast to grow, but not significantly.

Revenue vs Market: LVS's revenue (4.4% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: LVS's revenue (4.4% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: LVS's Return on Equity is forecast to be very high in 3 years time (44.1%).


Next Steps

Past Performance

How has Las Vegas Sands performed over the past 5 years?

1.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: LVS has high quality earnings.

Growing Profit Margin: LVS's current net profit margins (13.9%) are lower than last year (27.8%).


Past Earnings Growth Analysis

Earnings Trend: LVS's earnings have grown by 1.6% per year over the past 5 years.

Accelerating Growth: LVS's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: LVS had negative earnings growth (-50%) over the past year, making it difficult to compare to the Hospitality industry average (-15%).


Return on Equity

High ROE: Whilst LVS's Return on Equity (38.08%) is high, this metric is skewed due to their high level of debt.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Las Vegas Sands's financial position?


Financial Position Analysis

Short Term Liabilities: LVS's short term assets ($4.8B) exceeds its short term liabilities ($3.0B)

Long Term Liabilities: LVS's short term assets (4.8B) do not cover its long term liabilities (12.9B)


Debt to Equity History and Analysis

Debt Level: LVS's debt to equity ratio (183.1%) is considered high

Reducing Debt: LVS's debt to equity ratio has increased from 112.2% to 183.1% over the past 5 years.

Debt Coverage: LVS's debt is well covered by operating cash flow (26%).

Interest Coverage: LVS's interest payments on its debt are well covered by EBIT (7.7x coverage).


Balance Sheet

Inventory Level: LVS has a high level of physical assets or inventory.

Debt Coverage by Assets: LVS's debt is not covered by short term assets (assets are 0.4x debt).


Next Steps

Dividend

What is Las Vegas Sands's current dividend yield, its reliability and sustainability?

4.95%

Current Dividend Yield


Upcoming Dividend Payment

Purchase Las Vegas Sands before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company5.0%marketbottom25%1.4%markettop25%3.7%industryaverage3.1%forecastin3Years5.1%

Current dividend yield vs market & industry

Notable Dividend: LVS's dividend (4.95%) is higher than the bottom 25% of dividend payers in the US market (1.43%).

High Dividend: LVS's dividend (4.95%) is in the top 25% of dividend payers in the US market (3.66%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, LVS has been paying a dividend for less than 10 years.

Growing Dividend: LVS's dividend payments have increased, but the company has only paid a dividend for 8 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (124.7%), LVS's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: LVS's dividends in 3 years are forecast to be covered by earnings (83.9% payout ratio).


Next Steps

Management

What is the CEO of Las Vegas Sands's salary, the management and board of directors tenure and is there insider trading?

5.9yrs

Average management tenure


CEO

Sheldon Adelson (85yo)

15.3yrs

Tenure

US$24,012,913

Compensation

Mr. Sheldon Gary Adelson has been the Chief Executive Officer of Sands China Ltd., since March 6, 2015. Mr. Adelson has been the Chief Executive Officer of Las Vegas Sands Corp. since August 2004. He is th ...


CEO Compensation Analysis

Compensation vs Market: Sheldon's total compensation ($USD24.01M) is above average for companies of similar size in the US market ($USD10.97M).

Compensation vs Earnings: Sheldon's compensation has been consistent with company performance over the past year.


Management Age and Tenure

5.9yrs

Average Tenure

58yo

Average Age

Experienced Management: LVS's management team is seasoned and experienced (5.9 years average tenure).


Board Age and Tenure

5.3yrs

Average Tenure

71.5yo

Average Age

Experienced Board: LVS's board of directors are considered experienced (5.3 years average tenure).


Insider Trading

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Management Team

  • Mark Juliano (64yo)

    President of Sands Bethlehem

    • Tenure: 5.5yrs
  • Rob Goldstein (63yo)

    President

    • Tenure: 4.8yrs
    • Compensation: US$24.67m
  • Sheldon Adelson (85yo)

    Chairman

    • Tenure: 15.3yrs
    • Compensation: US$24.01m
  • Dan Briggs

    Senior Vice President of Investor Relations

    • Tenure: 7.8yrs
  • Ron Reese

    Senior Vice President of Public Relations

    • Tenure: 0yrs
  • Patrick Dumont (44yo)

    Executive VP

    • Tenure: 2.6yrs
    • Compensation: US$2.41m
  • Grant Chum

    Senior Vice President of Global Gaming Strategy

    • Tenure: 6.3yrs
  • David Sylvester (55yo)

    Executive Vice President of Global Retail

    • Tenure: 0yrs
  • George Tanasijevich (58yo)

    CEO & President - Marina Bay Sands Pte Ltd & MD of Global Development - Las Vegas Sands Corp

    • Tenure: 8.3yrs
    • Compensation: US$2.03m
  • Randy Hyzak (49yo)

    Senior VP & Chief Accounting Officer

    • Tenure: 3.7yrs

Board Members

  • Charles Koppelman (79yo)

    Independent Director

    • Tenure: 8.1yrs
    • Compensation: US$249.80k
  • Irwin Chafetz (83yo)

    Director

    • Tenure: 14.8yrs
    • Compensation: US$212.80k
  • Micheline Chau (66yo)

    Independent Director

    • Tenure: 5.1yrs
    • Compensation: US$230.05k
  • Lew Kramer (71yo)

    Independent Director

    • Tenure: 2.6yrs
    • Compensation: US$241.80k
  • Rob Goldstein (63yo)

    President

    • Tenure: 4.8yrs
    • Compensation: US$24.67m
  • Sheldon Adelson (85yo)

    Chairman

    • Tenure: 15.3yrs
    • Compensation: US$24.01m
  • Charles Forman (72yo)

    Director

    • Tenure: 15.3yrs
    • Compensation: US$212.80k
  • George Jamieson (83yo)

    Independent Director

    • Tenure: 5.4yrs
    • Compensation: US$242.30k
  • Patrick Dumont (44yo)

    Executive VP

    • Tenure: 2.6yrs
    • Compensation: US$2.41m
  • David Levi (67yo)

    Independent Director

    • Tenure: 4.8yrs
    • Compensation: US$240.80k

Company Information

Las Vegas Sands Corp.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Las Vegas Sands Corp.
  • Ticker: LVS
  • Exchange: NYSE
  • Founded: 1988
  • Industry: Casinos and Gaming
  • Sector: Consumer Services
  • Market Cap: US$47.739b
  • Shares outstanding: 767.99m
  • Website: https://www.sands.com

Number of Employees


Location

  • Las Vegas Sands Corp.
  • 3355 Las Vegas Boulevard South
  • Las Vegas
  • Nevada
  • 89109
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
LVSNYSE (New York Stock Exchange)YesCommon StockUSUSDDec 2004
LCRDB (Deutsche Boerse AG)YesCommon StockDEEURDec 2004
LCRXTRA (XETRA Trading Platform)YesCommon StockDEEURDec 2004
LVS *BMV (Bolsa Mexicana de Valores)YesCommon StockMXMXNDec 2004
0QY4LSE (London Stock Exchange)YesCommon StockGBUSDDec 2004
LVSCWBAG (Wiener Boerse AG)YesCommon StockATEURDec 2004

Biography

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Sands Cotai C ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/11/13 23:56
End of Day Share Price2019/11/13 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.