| Snowflake Score | |
|---|---|
| Valuation | 4/6 |
| Future Growth | 6/6 |
| Past Performance | 0/6 |
| Financial Health | 1/6 |
| Dividends | 0/6 |
LVS Stock Overview
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States.
Las Vegas Sands Corp. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$37.63 |
| 52 Week High | US$48.27 |
| 52 Week Low | US$28.88 |
| Beta | 1.27 |
| 1 Month Change | 1.48% |
| 3 Month Change | 12.46% |
| 1 Year Change | 0.21% |
| 3 Year Change | -29.15% |
| 5 Year Change | -37.41% |
| Change since IPO | -19.18% |
Recent News & Updates
Las Vegas Sands Has A Macau And Convention Revenue Problem
Las Vegas Sands is no longer present in Las Vegas, and its assets are now the Marina Bay and its Macau assets. Run-rate EBITDA should recover in Singapore to half the 2019 levels, but Macau is a lot less clear due to severe lockdowns. Macau casinos will lose LVS about $20 million per day in total lockdown, and the recent market slide prices in about 250 days of lockdown, which is reasonable. Overall, we still prefer MLCO on the basis that it has more incoming mitigants for its more penalised Macau exposure, but both will also have to face macro headwinds. Published on the Value Lab 14/7/22 Macau casino stocks are a rough place to have cash, now that lockdowns akin to the 2020 ones are being reinstituted as part of China's zero-COVID effort. Market declines are pricing in about 250 days of lockdown in Macau for big player Las Vegas Sands (LVS) which might be excessive. New cash proceeds from the Las Vegas sales help out the debt situation a bit, and Singapore looks to be recovering pretty well to about half of 2019 levels. While being less risky than Melco Resorts (MLCO), it's still speculative and MLCO is more unreasonably penalised in our view, so we prefer them. Nonetheless, there is value in these casino stocks, but the timing makes them too risky, especially when the grail of convention revenue is being threatened by macro headwinds too. Breakdown Of Las Vegas Sands As of now, exposure between Macau and Singapore is about 2:3, which is not a bad ratio with Singapore coming back online these last couple of months. Singapore is seeing run-rate EBITDAs that are at about half of 2019 levels as part of the recovery, and have scope for longer-term recovery as people become less skittish about mobility. We think about $200 million in quarterly EBITDA is very feasible for this segment, while Macau should produce about $108 million in losses based on total closure run-rate figures. So, the company should produce positive EBITDA of about $100 million on a run-rate quarterly basis, which isn't bad, especially with their debt load falling to about 25% D/E thanks to the Las Vegas sales, which is high but not extremely alarming given the maturities are focused in 2025. Maturity Profile (Q1 2022 Pres) LVS Stock Valuation
Las Vegas Sands signs loan agreement with Sands China
Las Vegas Sands (NYSE:LVS) entered into a loan agreement with its majority-owned subsidiary, Sands China (SCL) wherein it has extended to the latter a subordinated unsecured term loan of $1B, repayable on July 11, 2028. In the first two years from July 11, 2022, SCL will have the option to elect to pay cash interest at 5% annually or payment-in-kind interest at 6% annually, following which only cash interest at 5% annually will be payable. The SCL subordinated loan is pre-payable by SCL in whole or in part at any time without penalty. Shares trading 4.9% lower premarket.
Is Las Vegas Sands (NYSE:LVS) A Risky Investment?
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Shareholder Returns
| LVS | US Hospitality | US Market | |
|---|---|---|---|
| 7D | -2.7% | 1.6% | 1.4% |
| 1Y | 0.2% | -11.4% | -8.4% |
Return vs Industry: LVS exceeded the US Hospitality industry which returned -11.4% over the past year.
Return vs Market: LVS exceeded the US Market which returned -8.4% over the past year.
Price Volatility
| LVS volatility | |
|---|---|
| LVS Average Weekly Movement | 7.1% |
| Hospitality Industry Average Movement | 8.4% |
| Market Average Movement | 7.6% |
| 10% most volatile stocks in US Market | 17.1% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: LVS is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 7% a week.
Volatility Over Time: LVS's weekly volatility (7%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1988 | 44,600 | Rob Goldstein | https://www.sands.com |
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 Londoner Macao, 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 Marina Bay Sands in Singapore. The company also owns and operates The Venetian Resort Hotel Casino on the Las Vegas Strip; and the Sands Expo and Convention Center in Las Vegas, Nevada.
Las Vegas Sands Corp. Fundamentals Summary
| LVS fundamental statistics | |
|---|---|
| Market Cap | US$28.75b |
| Earnings (TTM) | -US$1.37b |
| Revenue (TTM) | US$3.85b |
7.5x
P/S Ratio-21.0x
P/E RatioIs LVS overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| LVS income statement (TTM) | |
|---|---|
| Revenue | US$3.85b |
| Cost of Revenue | US$1.19b |
| Gross Profit | US$2.67b |
| Other Expenses | US$4.04b |
| Earnings | -US$1.37b |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | -1.80 |
| Gross Margin | 69.22% |
| Net Profit Margin | -35.61% |
| Debt/Equity Ratio | 364.3% |
How did LVS perform over the long term?
See historical performance and comparison