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Las Vegas Sands

NYSE:LVS
Snowflake Description

Mediocre balance sheet with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LVS
NYSE
$46B
Market Cap
  1. Home
  2. US
  3. Consumer Services
Company description

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. The last earnings update was 60 days ago. More info.


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LVS Share Price and Events
7 Day Returns
1.3%
NYSE:LVS
-0.2%
US Hospitality
0.1%
US Market
1 Year Returns
-25%
NYSE:LVS
-11.2%
US Hospitality
1.2%
US Market
LVS Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Las Vegas Sands (LVS) 1.3% -1.4% 0.6% -25% 31.6% -20.5%
US Hospitality -0.2% -0.6% 0.7% -11.2% 39.9% 19.2%
US Market 0.1% 0.6% 0.9% 1.2% 36.7% 37.9%
1 Year Return vs Industry and Market
  • LVS underperformed the Hospitality industry which returned -11.2% over the past year.
  • LVS underperformed the Market in United States of America which returned 1.2% over the past year.
Price Volatility
LVS
Industry
5yr Volatility vs Market

Value

 Is Las Vegas Sands undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Las Vegas Sands to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Las Vegas Sands.

NYSE:LVS Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 19 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.1%
Perpetual Growth Rate 10-Year US Government Bond Rate 2.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:LVS
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 2.7%
Equity Risk Premium S&P Global 6%
Hospitality Unlevered Beta Simply Wall St/ S&P Global 0.92
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.919 (1 + (1- 21%) (26.84%))
1.076
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.076 * 5.96%)
9.14%

Discounted Cash Flow Calculation for NYSE:LVS using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Las Vegas Sands is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:LVS DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 9.14%)
2019 2,526.83 Analyst x6 2,315.13
2020 3,167.80 Analyst x6 2,659.23
2021 3,485.00 Analyst x2 2,680.40
2022 3,699.04 Est @ 6.14% 2,606.65
2023 3,888.36 Est @ 5.12% 2,510.50
2024 4,059.51 Est @ 4.4% 2,401.41
2025 4,217.84 Est @ 3.9% 2,286.03
2026 4,367.54 Est @ 3.55% 2,168.83
2027 4,511.82 Est @ 3.3% 2,052.77
2028 4,653.10 Est @ 3.13% 1,939.68
Present value of next 10 years cash flows $23,620.61
NYSE:LVS DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= $4,653.10 × (1 + 2.73%) ÷ (9.14% – 2.73%)
$74,522.25
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $74,522.25 ÷ (1 + 9.14%)10
$31,065.10
NYSE:LVS Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $23,620.61 + $31,065.10
$54,685.71
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $54,685.71 / 772.76
$70.77
NYSE:LVS Discount to Share Price
Calculation Result
Value per share (USD) From above. $70.77
Current discount Discount to share price of $59.48
= -1 x ($59.48 - $70.77) / $70.77
15.9%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Las Vegas Sands is available for.
Intrinsic value
16%
Share price is $59.48 vs Future cash flow value of $70.77
Current Discount Checks
For Las Vegas Sands to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Las Vegas Sands's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Las Vegas Sands's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Las Vegas Sands's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Las Vegas Sands's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:LVS PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $1.97
NYSE:LVS Share Price ** NYSE (2019-06-18) in USD $59.48
United States of America Hospitality Industry PE Ratio Median Figure of 74 Publicly-Listed Hospitality Companies 22.56x
United States of America Market PE Ratio Median Figure of 3,092 Publicly-Listed Companies 17.63x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Las Vegas Sands.

NYSE:LVS PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:LVS Share Price ÷ EPS (both in USD)

= 59.48 ÷ 1.97

30.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Las Vegas Sands is overvalued based on earnings compared to the US Hospitality industry average.
  • Las Vegas Sands is overvalued based on earnings compared to the United States of America market.
Price based on expected Growth
Does Las Vegas Sands's expected growth come at a high price?
Raw Data
NYSE:LVS PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 30.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts
12.9%per year
United States of America Hospitality Industry PEG Ratio Median Figure of 55 Publicly-Listed Hospitality Companies 1.95x
United States of America Market PEG Ratio Median Figure of 2,126 Publicly-Listed Companies 1.53x

*Line of best fit is calculated by linear regression .

NYSE:LVS PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 30.23x ÷ 12.9%

2.34x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Las Vegas Sands is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Las Vegas Sands's assets?
Raw Data
NYSE:LVS PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $7.15
NYSE:LVS Share Price * NYSE (2019-06-18) in USD $59.48
United States of America Hospitality Industry PB Ratio Median Figure of 112 Publicly-Listed Hospitality Companies 2.19x
United States of America Market PB Ratio Median Figure of 5,244 Publicly-Listed Companies 1.79x
NYSE:LVS PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:LVS Share Price ÷ Book Value per Share (both in USD)

= 59.48 ÷ 7.15

8.32x

* Primary Listing of Las Vegas Sands.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Las Vegas Sands is overvalued based on assets compared to the US Hospitality industry average.
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Value checks
We assess Las Vegas Sands's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Hospitality industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Hospitality industry average (and greater than 0)? (1 check)
  5. Las Vegas Sands has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Las Vegas Sands expected to perform in the next 1 to 3 years based on estimates from 19 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
12.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Las Vegas Sands expected to grow at an attractive rate?
  • Las Vegas Sands's earnings growth is expected to exceed the low risk savings rate of 2.7%.
Growth vs Market Checks
  • Las Vegas Sands's earnings growth is positive but not above the United States of America market average.
  • Las Vegas Sands's revenue growth is positive but not above the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:LVS Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:LVS Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 19 Analysts 12.9%
NYSE:LVS Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 19 Analysts 4.8%
United States of America Hospitality Industry Earnings Growth Rate Market Cap Weighted Average 16.7%
United States of America Hospitality Industry Revenue Growth Rate Market Cap Weighted Average 7.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 13.9%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:LVS Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:LVS Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 18,435 6,161 3,784 1
2022-12-31 16,431 5,821 3,562 2
2021-12-31 15,130 5,035 2,931 9
2020-12-31 14,437 4,606 2,601 19
2019-12-31 14,067 4,398 2,429 18
NYSE:LVS Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 13,796 4,124 1,539
2018-12-31 13,729 4,701 2,413
2018-09-30 13,799 4,721 3,793
2018-06-30 13,588 4,938 3,791
2018-03-31 13,240 4,977 3,783
2017-12-31 12,728 4,543 2,808
2017-09-30 12,412 4,435 2,105
2017-06-30 12,220 4,366 2,049
2017-03-31 11,760 4,208 1,831
2016-12-31 11,271 4,044 1,679
2016-09-30 11,196 3,841 1,627
2016-06-30 11,121 3,655 1,633

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Las Vegas Sands's earnings are expected to grow by 12.9% yearly, however this is not considered high growth (20% yearly).
  • Las Vegas Sands's revenue is expected to grow by 4.8% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:LVS Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below

All data from Las Vegas Sands Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:LVS Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 5.03 5.03 5.03 1.00
2022-12-31 4.72 4.72 4.72 1.00
2021-12-31 3.82 4.40 3.40 4.00
2020-12-31 3.39 3.96 3.02 13.00
2019-12-31 3.17 3.48 2.92 12.00
NYSE:LVS Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 1.97
2018-12-31 3.07
2018-09-30 4.81
2018-06-30 4.80
2018-03-31 4.78
2017-12-31 3.55
2017-09-30 2.66
2017-06-30 2.58
2017-03-31 2.30
2016-12-31 2.11
2016-09-30 2.05
2016-06-30 2.05

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Las Vegas Sands is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess Las Vegas Sands's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Las Vegas Sands has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

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

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Las Vegas Sands's growth in the last year to its industry (Hospitality).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Las Vegas Sands's year on year earnings growth rate has been positive over the past 5 years, however the most recent earnings are below average.
  • Las Vegas Sands's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Las Vegas Sands's 1-year earnings growth is negative, it can't be compared to the US Hospitality industry average.
Earnings and Revenue History
Las Vegas Sands's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Las Vegas Sands Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:LVS Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 13,796.00 1,539.00 1,888.00
2018-12-31 13,729.00 2,413.00 1,743.00
2018-09-30 13,799.00 3,793.00 1,696.00
2018-06-30 13,588.00 3,791.00 1,702.00
2018-03-31 13,240.00 3,783.00 1,714.00
2017-12-31 12,728.00 2,808.00 1,744.00
2017-09-30 12,412.00 2,105.00 1,676.00
2017-06-30 12,220.00 2,049.00 1,749.00
2017-03-31 11,760.00 1,831.00 1,827.00
2016-12-31 11,271.00 1,679.00 1,814.00
2016-09-30 11,196.27 1,626.55 1,864.42
2016-06-30 11,120.96 1,632.90 1,752.29
2016-03-31 11,393.38 1,774.08 1,660.00
2015-12-31 11,688.00 1,966.00 1,696.00
2015-09-30 12,242.72 2,221.76 1,630.49
2015-06-30 12,882.16 2,374.11 1,649.64
2015-03-31 13,585.09 2,576.37 1,683.65
2014-12-31 14,584.00 2,841.00 1,701.00
2014-09-30 14,823.54 2,696.86 1,813.16
2014-06-30 14,858.96 2,651.90 1,829.73
2014-03-31 14,477.55 2,510.22 1,810.55
2013-12-31 13,769.89 2,306.00 1,779.16
2013-09-30 13,191.20 2,163.24 1,752.91
2013-06-30 12,332.14 1,886.28 1,760.66
2013-03-31 11,671.11 1,597.11 1,763.44
2012-12-31 11,131.13 1,524.09 1,712.22
2012-09-30 10,598.49 1,409.43 1,578.42
2012-06-30 10,298.38 1,413.27 1,486.01

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst Las Vegas Sands has efficiently used shareholders’ funds last year (Return on Equity greater than 20%), this is metric is skewed due to its high level of debt.
  • Las Vegas Sands used its assets more efficiently than the US Hospitality industry average last year based on Return on Assets.
  • Las Vegas Sands has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Las Vegas Sands's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Hospitality industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Las Vegas Sands has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Las Vegas Sands's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Las Vegas Sands's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Las Vegas Sands is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Las Vegas Sands's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Las Vegas Sands's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Las Vegas Sands Company Filings, last reported 2 months ago.

NYSE:LVS Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 6,440.00 12,335.00 4,134.00
2018-12-31 6,745.00 11,985.00 4,648.00
2018-09-30 7,798.00 11,987.00 4,772.00
2018-06-30 7,962.00 11,323.00 4,350.00
2018-03-31 8,357.00 9,652.00 2,628.00
2017-12-31 7,627.00 9,640.00 2,419.00
2017-09-30 6,891.00 9,617.00 2,001.00
2017-06-30 6,805.00 10,140.00 2,307.00
2017-03-31 7,106.00 9,790.00 1,956.00
2016-12-31 7,496.00 9,595.00 2,128.00
2016-09-30 7,566.63 9,756.92 1,790.40
2016-06-30 7,559.80 10,273.63 2,225.30
2016-03-31 8,013.98 9,387.24 1,695.64
2015-12-31 8,418.00 9,344.00 2,179.00
2015-09-30 8,386.35 9,128.94 1,855.47
2015-06-30 8,468.76 9,818.36 2,818.68
2015-03-31 8,740.88 9,241.00 2,406.47
2014-12-31 9,020.58 9,992.65 3,506.32
2014-09-30 8,855.60 9,938.62 3,147.11
2014-06-30 8,738.56 10,378.96 3,292.73
2014-03-31 8,833.01 10,273.83 3,303.40
2013-12-31 9,500.53 9,760.26 3,600.41
2013-09-30 9,231.00 9,763.62 3,209.12
2013-06-30 8,957.05 9,491.40 2,514.14
2013-03-31 8,844.13 9,828.35 2,379.75
2012-12-31 8,658.41 10,230.07 2,512.77
2012-09-30 10,524.05 9,496.00 3,745.42
2012-06-30 10,187.03 9,374.21 3,522.00
  • Las Vegas Sands's level of debt (186.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (116.3% vs 186.3% today).
  • Debt is well covered by operating cash flow (34.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 8.8x coverage).
X
Financial health checks
We assess Las Vegas Sands's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Las Vegas Sands has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.18%
Current annual income from Las Vegas Sands dividends. Estimated to be 5.33% next year.
If you bought $2,000 of Las Vegas Sands shares you are expected to receive $104 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Las Vegas Sands's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.46%).
  • Las Vegas Sands's dividend is above the markets top 25% of dividend payers in United States of America (3.72%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:LVS Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 19 Analyst Estimates (S&P Global) See Below
United States of America Hospitality Industry Average Dividend Yield Market Cap Weighted Average of 47 Stocks 2.8%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 2011 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 3.7%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:LVS Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2023-12-31 3.32 1.00
2022-12-31 3.24 1.00
2021-12-31 3.25 8.00
2020-12-31 3.16 15.00
2019-12-31 3.12 14.00
NYSE:LVS Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-17 3.080 5.042
2019-01-23 3.080 5.055
2018-10-26 3.000 5.581
2018-10-24 3.000 5.675
2018-04-25 3.000 4.368
2017-10-25 3.000 4.227
2017-04-26 2.920 4.728
2017-02-24 2.920 5.226
2017-01-25 2.920 5.557
2016-11-04 2.880 5.016
2016-11-03 2.880 4.975
2016-08-05 2.880 5.192
2016-07-25 2.880 5.761
2016-05-06 2.880 6.326
2016-04-20 2.880 6.221
2016-02-26 2.880 5.621
2016-01-27 2.880 6.562
2015-11-05 2.880 6.739
2015-10-21 2.880 5.896
2015-08-07 2.600 5.590
2015-07-22 2.600 4.705
2015-05-07 2.600 4.928
2015-04-22 2.600 4.832
2015-02-27 2.600 4.684
2015-01-28 2.600 4.539
2014-10-15 2.000 3.412
2014-07-17 2.000 3.038
2014-04-30 2.000 2.652
2014-01-30 2.000 2.508
2014-01-29 1.400 1.845
2013-11-07 1.400 1.857
2013-10-17 1.400 1.970
2013-05-01 1.400 2.407
2013-03-01 1.400 2.593
2013-01-30 1.400 2.665
2012-11-01 1.000 2.131
2012-07-25 1.000 2.333
2012-04-25 1.000 2.188
2012-02-01 1.000 1.796

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Las Vegas Sands has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Las Vegas Sands only paid a dividend in the past 7 years.
Current Payout to shareholders
What portion of Las Vegas Sands's earnings are paid to the shareholders as a dividend.
  • Dividends paid are not well covered by earnings (0.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by earnings (1.2x coverage).
X
Income/ dividend checks
We assess Las Vegas Sands's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Las Vegas Sands afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Las Vegas Sands has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

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

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Sheldon Adelson
COMPENSATION $24,012,913
AGE 84
TENURE AS CEO 14.8 years
CEO Bio

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 the Chairman and Chief Executive Officer at Las Vegas Sands, LLC since April 1988. He has been the Chairman and President of Interface Group Holding Company, Inc. since the mid-1970s. He is a Principal Owner and Chief Executive Officer of Venetian Casino Resort LLC. He has been a Treasurer of Las Vegas Sands Corp., since August 2004. He created and developed the COMDEX Trade Shows, including the COMDEX/Fall Trade Show, the world's largest computer show, all of which were sold to Softbank Corporation in April 1995. He served as the Chief Executive Officer of Marina Bay Sands Pte. Ltd. He also created and developed the Sands Expo Center, which he grew into one of the largest convention and trade show destinations in the United States in July 2004. He has been the Chairman of Sands China Ltd. since August 18, 2009. He serves as the Chairman of Marina Bay Sands Pte. Ltd. Mr. Adelson has been the Chairman of the board, Chief Executive Offi cer and a director of LVS LLC (or its predecessor, Las Vegas Sands, Inc.) since April 1988, when it was formed to own and operate the former Sands Hotel and Casino. He has been the Chairman of Interface Group-Massachusetts Inc. since 1990. Mr. Adelson has been the Chairman of the board, Chief Executive Offi cer and a director of LVS since August 2004. He has been the Chairman of Las Vegas Sands Corp., since August 2004. He serves as the Chairman of Venetian Casino Resort LLC. He has been a Director of Las Vegas Sands Corp. since August 2004. He has been an Executive Director of Sands China Ltd. since March 6, 2015 and served as its Non-Executive Director from August 18, 2009 to March 6, 2015. Mr. Adelson’s business career spans more than seven decades and has included creating and developing to maturity more than 50 different companies. Mr. Adelson has extensive experience in the convention, trade show and tour and travel businesses. He created and developed the COMDEX Trade Shows, including the COMDEX/Fall Trade Show, which was the world’s largest computer show in the 1990s. He is also the chief executive officer of one of the U.S. subsidiaries. Mr. Adelson has earned multiple honorary degrees and has been a guest lecturer at various colleges and universities, including the University of New Haven, Harvard Business School, Columbia Business School, Tel Aviv University and Babson College. Among his numerous awards for his business and philanthropic work are the Armed Forces Foundation’s Patriot Award, the Hotel Investment Conference’s Innovation Award, the Woodrow Wilson Award for Corporate Citizenship and induction into the American Gaming Association’s Hall of Fame.

CEO Compensation
  • Sheldon's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Sheldon's remuneration is higher than average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Las Vegas Sands management team in years:

4.3
Average Tenure
60
Average Age
  • The tenure for the Las Vegas Sands management team is about average.
Management Team

Sheldon Adelson

TITLE
Chairman
COMPENSATION
$24M
AGE
84
TENURE
14.8 yrs

Rob Goldstein

TITLE
President
COMPENSATION
$25M
AGE
62
TENURE
4.4 yrs

Patrick Dumont

TITLE
Executive VP
COMPENSATION
$2M
AGE
43
TENURE
3.3 yrs

Lon Jacobs

TITLE
Executive VP
COMPENSATION
$2M
AGE
63
TENURE
2.8 yrs

Randy Hyzak

TITLE
Senior VP & Chief Accounting Officer
AGE
48
TENURE
3.3 yrs

Dan Briggs

TITLE
Senior Vice President of Investor Relations
TENURE
7.4 yrs

Ron Reese

TITLE
Senior Vice President of Public Relations

David Sylvester

TITLE
Executive Vice President of Global Retail
AGE
54

Grant Chum

TITLE
Senior Vice President of Global Gaming Strategy
TENURE
5.8 yrs

George Markantonis

TITLE
President & COO of The Venetian/The Palazzo and President & COO of Sands Expo & Convention Center
COMPENSATION
$3M
AGE
60
TENURE
4.3 yrs
Board of Directors Tenure

Average tenure and age of the Las Vegas Sands board of directors in years:

4.8
Average Tenure
70.5
Average Age
  • The tenure for the Las Vegas Sands board of directors is about average.
Board of Directors

Sheldon Adelson

TITLE
Chairman
COMPENSATION
$24M
AGE
84
TENURE
14.8 yrs

Rob Goldstein

TITLE
President
COMPENSATION
$25M
AGE
62
TENURE
4.4 yrs

Patrick Dumont

TITLE
Executive VP
COMPENSATION
$2M
AGE
43
TENURE
2.2 yrs

Charles Koppelman

TITLE
Director
COMPENSATION
$250K
AGE
78
TENURE
7.7 yrs

George Jamieson

TITLE
Director
COMPENSATION
$242K
AGE
82
TENURE
5 yrs

David Levi

TITLE
Director
COMPENSATION
$241K
AGE
66
TENURE
4.4 yrs

Lew Kramer

TITLE
Director
COMPENSATION
$242K
AGE
70
TENURE
2.2 yrs

Charles Forman

TITLE
Director
COMPENSATION
$213K
AGE
71
TENURE
14.8 yrs

Irwin Chafetz

TITLE
Director
COMPENSATION
$213K
AGE
82
TENURE
14.3 yrs

Micheline Chau

TITLE
Director
COMPENSATION
$230K
AGE
65
TENURE
4.7 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
31. Jul 18 Buy Robert Goldstein Individual 31. Jul 18 31. Jul 18 10,000 $71.13 $711,252
X
Management checks
We assess Las Vegas Sands's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Las Vegas Sands has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Dividend Investors: Don't Be Too Quick To Buy Las Vegas Sands Corp. (NYSE:LVS) For Its Upcoming Dividend

View our latest analysis for Las Vegas Sands Dividends are typically paid out of company income, so if a company pays out more than it earned, its dividend is usually at a higher risk of being cut. … Las Vegas Sands paid out 154% of profit in the past year, which we think is typically not sustainable unless there are mitigating characteristics such as unusually strong cash flow or a large cash balance. … It's good to see that while Las Vegas Sands's dividends were not covered by profits, at least they are affordable from a cash perspective.

Simply Wall St -

Are Dividend Investors Making A Mistake With Las Vegas Sands Corp. (NYSE:LVS)?

(NYSE:LVS) tend to be popular with investors, and for good reason - some research suggests a significant amount of all stock market returns come from reinvested dividends. On the other hand, investors have been known to buy a stock because of its yield, and then lose money if the company's dividend doesn't live up to expectations. In this case, Las Vegas Sands likely looks attractive to dividend investors, given its 5.4% dividend yield and seven-year payment history. We'd agree the yield does look enticing. The company also bought back stock equivalent to around 2.2% of market capitalisation this year. Before you buy any stock for its dividend however, you should always remember Warren Buffett's two rules: 1) Don't lose money, and 2) Remember rule #1. … Looking at the data, we can see that Las Vegas Sands has been paying a dividend for the past seven years. … However, it's also important to assess if earnings per share (EPS) are growing. Growing EPS can help maintain or increase the purchasing power of the dividend over the long run. Over the past five years, it looks as though Las Vegas Sands's EPS have declined at around 6.8% a year. If earnings continue to decline, the dividend may come under pressure. Every investor should make an assessment of whether the company is taking steps to stabilise the situation. Conclusion Dividend investors should always want to know if a) a company's dividends are affordable, b) if there is a track record of consistent payments, and c) if the dividend is capable of growing.

Simply Wall St -

Is Las Vegas Sands Corp.'s (NYSE:LVS) CEO Pay Justified?

When we examined a group of companies with market caps over US$8.0b, we found that their median CEO total compensation was US$11m. … Thus we can conclude that Sheldon Adelson receives more in total compensation than the median of a group of large companies in the same market as Las Vegas Sands Corp.. … We compared the total CEO remuneration paid by Las Vegas Sands Corp., and compared it to remuneration at a group of other large companies.

Simply Wall St -

Why Las Vegas Sands Corp. (NYSE:LVS) Looks Like A Quality Company

This article is for those who would like to learn about Return On Equity (ROE). … That means that for every $1 worth of shareholders' equity, it generated $0.32 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should Las Vegas Sands (NYSE:LVS) Be Disappointed With Their 46% Profit?

One way to examine how market sentiment has changed over time is to look at the interaction between a company's share price and its earnings per share (EPS). … Over the last three years, Las Vegas Sands failed to grow earnings per share, which fell 4.1% (annualized). … Companies are not always focussed on EPS growth in the short term, and looking at how the share price has reacted, we don't think EPS is the most important metric for Las Vegas Sands at the moment.

Simply Wall St -

How Do Analysts See Las Vegas Sands Corp. (NYSE:LVS) Performing In The Next Couple Of Years?

The most recent earnings announcement Las Vegas Sands Corp.'s (NYSE:LVS) released in December 2018a

Simply Wall St -

A Close Look At Las Vegas Sands Corp.’s (NYSE:LVS) 20% ROCE

To be precise, we'll consider its Return On Capital Employed (ROCE), as that will inform our view of the quality of the business. … Return On Capital Employed (ROCE): What is it? … ROCE measures the 'return' (pre-tax profit) a company generates from capital employed in its business.

Simply Wall St -

Las Vegas Sands Corp. (NYSE:LVS): Ex-Dividend Is In 3 Days

(NYSE:LVS): The dividend payment of US$0.77 per share will be distributed to shareholders on 28 March 2019, and the stock will begin trading ex-dividend at an earlier date, 19 March 2019. … Investors looking for higher income-generating stocks to add to their portfolio should keep reading, as I examine Las Vegas Sands's latest financial data to analyse its dividend characteristics. … 5 checks you should use to assess a dividend stock?

Simply Wall St -

Is It Too Late To Consider Buying Las Vegas Sands Corp. (NYSE:LVS)?

As a large-cap stock with high coverage by analysts, you could assume any recent changes in the company’s outlook is already priced into the stock … However, what if the stock is still a bargain?

Simply Wall St -

Las Vegas Sands Corp. (NYSE:LVS): Poised For Long Term Success?

Looking at Las Vegas Sands Corp.'s (NYSE:LVS) earnings update in December 2018, … analyst consensus outlook appear cautiously subdued, … as a 1.5% rise in profits is expected in the upcoming year,

Simply Wall St -

Company Info

Description

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 Central, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People’s Republic of China; and iconic Marina Bay Sands in Singapore. The company also owns and operates The Venetian Resort Hotel Casino on the Las Vegas Strip; the Sands Expo and Convention Center in Las Vegas, Nevada; and the Sands Casino Resort Bethlehem in Bethlehem, Pennsylvania. Its integrated resorts feature accommodations, gaming, entertainment and retail, convention and exhibition facilities, celebrity chef restaurants, and other amenities. Las Vegas Sands Corp. was founded in 1988 and is based in Las Vegas, Nevada.

Details
Name: Las Vegas Sands Corp.
LVS
Exchange: NYSE
Founded: 1988
$45,963,929,738
772,762,773
Website: http://www.sands.com
Address: Las Vegas Sands Corp.
3355 Las Vegas Boulevard South,
Las Vegas,
Nevada, 89109,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE LVS Common Stock New York Stock Exchange US USD 15. Dec 2004
DB LCR Common Stock Deutsche Boerse AG DE EUR 15. Dec 2004
LSE 0QY4 Common Stock London Stock Exchange GB USD 15. Dec 2004
BMV LVS * Common Stock Bolsa Mexicana de Valores MX MXN 15. Dec 2004
Number of employees
Current staff
Staff numbers
51,500
Las Vegas Sands employees.
Industry
Casinos and Gaming
Consumer Services
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/06/18 23:55
End of day share price update: 2019/06/18 00:00
Last estimates confirmation: 2019/06/11
Last earnings filing: 2019/04/19
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.