LAS VEGAS SANDS CORP
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LVS Q4 2025 request
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/api/financials?ticker=LVS&year=2025&quarter=4
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| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Revenue | 3,649 | 2,896 | +26.0% |
Show Product Lines breakouts |
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| Casino | 2,741 | 2,104 | +30.3% |
| Food And Beverage | 191 | 157 | +21.7% |
| Mall [Member] | 229 | 218 | +5.0% |
| Mall [Member] · Marina Bay Sands [Member] | 87 | 82 | +6.1% |
| Mall [Member] · MO | 142 | 136 | +4.4% |
| Mall [Member] · The Londoner Macao [Member] | 27 | 24 | +12.5% |
| Mall [Member] · The Parisian Macao [Member] | 4 | 7 | -42.9% |
| Mall [Member] · The Plaza Macao and Four Seasons Macao [Member] | 41 | 42 | -2.4% |
| Mall [Member] · The Venetian Macao [Member] | 69 | 63 | +9.5% |
| Occupancy | 379 | 317 | +19.6% |
| Product And Service Other | 109 | 100 | +9.0% |
Show Business Segments breakouts |
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| Corporate And Other · US | -85 | -64 | -32.8% |
| Ferry Operations and Other [Member] · MO | -7 | -7 | 0.0% |
| Ferry Operations and Other [Member] · MO | 27 | 27 | 0.0% |
| Macao Operating Segments [Member] · MO | -10 | -9 | -11.1% |
| Marina Bay Sands [Member] · SG | -2 | -3 | +33.3% |
| Marina Bay Sands [Member] · SG | 1,601 | 1,134 | +41.2% |
| Sands Macao [Member] · MO | 76 | 86 | -11.6% |
| The Londoner Macao [Member] · MO | 699 | 518 | +34.9% |
| The Parisian Macao [Member] · MO | 233 | 228 | +2.2% |
| The Plaza Macao and Four Seasons Macao [Member] · MO | 264 | 223 | +18.4% |
| The Venetian Macao [Member] · MO | -3 | -2 | -50.0% |
| The Venetian Macao [Member] · MO | 749 | 680 | +10.1% |
Show Geography breakouts |
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| MO | 2,048 | 1,762 | +16.2% |
Show Consolidation Items breakouts |
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| Intersegment Elimination | -97 | -76 | -27.6% |
| Cost of Revenue (Q) | — | — | — |
Show Product Lines breakouts |
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| Casino | 1,516 | 1,170 | +29.6% |
| Food And Beverage | 162 | 133 | +21.8% |
| Mall [Member] | 23 | 25 | -8.0% |
| Occupancy | 95 | 79 | +20.3% |
| Product And Service Other | 85 | 77 | +10.4% |
| Provision For Doubtful Accounts | 46 | 9 | +411.1% |
| Selling, General & Administrative | 315 | 303 | +4.0% |
| Corporate Expense | 90 | 75 | +20.0% |
| Pre Opening Costs | 4 | 4 | 0.0% |
| Research & Development | 59 | 59 | 0.0% |
| Depreciation And Amortization | 363 | 348 | +4.3% |
| Amortization Of Leasehold Interests In Land | 20 | 15 | +33.3% |
| Gain Loss On Sales Of Assets And Asset Impairment Charges | 164 | 9 | +1722.2% |
| Total Costs & Expenses | 2,942 | 2,306 | +27.6% |
| Operating Income | 707 | 590 | +19.8% |
| Interest Income Interest Earning Asset | 38 | 57 | -33.3% |
| Interest Expense | -191 | -180 | -6.1% |
| Other Non-Operating Income (Expense) | -3 | -6 | +50.0% |
| Income Before Taxes | 551 | 461 | +19.5% |
| Income Tax Expense (Benefit) | -103 | -69 | -49.3% |
| Net Income | 448 | 392 | +14.3% |
Show Equity Components breakouts |
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| Noncontrolling Interest | 53 | 68 | -22.1% |
| Retained Earnings | 395 | 324 | +21.9% |
| Net Income Loss Attributable To Noncontrolling Interest | -53 | -68 | +22.1% |
| Net Income | 395 | 324 | +21.9% |
| EPS (Basic) | 0.58 | 0.45 | +28.9% |
| EPS (Diluted) | 0.58 | 0.45 | +28.9% |
| Wtd Avg Shares (Basic) | -5 | -5 | 0.0% |
| Wtd Avg Shares (Diluted) | -5 | -5 | 0.0% |
| Revenue (Q) | — | — | — |
Show Product Lines breakouts |
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| Casino | 2,741 | 2,104 | +30.3% |
| Casino · Marina Bay Sands [Member] | 1,204 | 792 | +52.0% |
| Casino · MO | 1,537 | 1,312 | +17.1% |
| Casino · Sands Macao [Member] | 68 | 78 | -12.8% |
| Casino · The Londoner Macao [Member] | 524 | 387 | +35.4% |
| Casino · The Parisian Macao [Member] | 178 | 171 | +4.1% |
| Casino · The Plaza Macao and Four Seasons Macao [Member] | 183 | 142 | +28.9% |
| Casino · The Venetian Macao [Member] | 584 | 534 | +9.4% |
| Food And Beverage | 191 | 157 | +21.7% |
| Food And Beverage · Marina Bay Sands [Member] | 114 | 95 | +20.0% |
| Food And Beverage · MO | 77 | 62 | +24.2% |
| Food And Beverage · Sands Macao [Member] | 2 | 2 | 0.0% |
| Food And Beverage · The Londoner Macao [Member] | 34 | 22 | +54.5% |
| Food And Beverage · The Parisian Macao [Member] | 15 | 14 | +7.1% |
| Food And Beverage · The Plaza Macao and Four Seasons Macao [Member] | 8 | 8 | 0.0% |
| Food And Beverage · The Venetian Macao [Member] | 18 | 16 | +12.5% |
| Occupancy | 379 | 317 | +19.6% |
| Occupancy · Marina Bay Sands [Member] | 152 | 125 | +21.6% |
| Occupancy · MO | 227 | 192 | +18.2% |
| Occupancy · Sands Macao [Member] | 5 | 5 | 0.0% |
| Occupancy · The Londoner Macao [Member] | 105 | 68 | +54.4% |
| Occupancy · The Parisian Macao [Member] | 34 | 35 | -2.9% |
| Occupancy · The Plaza Macao and Four Seasons Macao [Member] | 30 | 30 | 0.0% |
| Occupancy · The Venetian Macao [Member] | 53 | 54 | -1.9% |
| Product And Service Other | 109 | 100 | +9.0% |
| Product And Service Other · Ferry Operations and Other [Member] | 27 | 27 | 0.0% |
| Product And Service Other · Marina Bay Sands [Member] | 44 | 40 | +10.0% |
| Product And Service Other · MO | 65 | 60 | +8.3% |
| Product And Service Other · Sands Macao [Member] | 0 | 1 | -100.0% |
| Product And Service Other · The Londoner Macao [Member] | 9 | 17 | -47.1% |
| Product And Service Other · The Parisian Macao [Member] | 2 | 1 | +100.0% |
| Product And Service Other · The Plaza Macao and Four Seasons Macao [Member] | 2 | 1 | +100.0% |
| Product And Service Other · The Venetian Macao [Member] | 25 | 13 | +92.3% |
| Comprehensive Income | 417 | 182 | +129.1% |
| Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax | -14 | -16 | +12.5% |
| Labor And Related Expense | 545 | 477 | +14.3% |
Show Business Segments breakouts |
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| Ferry Operations and Other [Member] · MO | 10 | 11 | -9.1% |
| Marina Bay Sands [Member] · SG | 199 | 173 | +15.0% |
| Sands Macao [Member] · MO | 25 | 22 | +13.6% |
| The Londoner Macao [Member] · MO | 110 | 90 | +22.2% |
| The Parisian Macao [Member] · MO | 52 | 47 | +10.6% |
| The Plaza Macao and Four Seasons Macao [Member] · MO | 30 | 28 | +7.1% |
| The Venetian Macao [Member] · MO | 119 | 106 | +12.3% |
Show Geography breakouts |
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| MO | 346 | 304 | +13.8% |
Balance Sheet
| Metric | Q4 2025 | Q4 2024 | YoY |
|---|---|---|---|
| Current Assets | |||
| Cash & Cash Equivalents | 3,841 | 3,650 | +5.2% |
| Accounts Receivable | 742 | 417 | +77.9% |
| Inventory | 46 | 41 | +12.2% |
| Prepaid Expenses & Other Current Assets | 203 | 182 | +11.5% |
| Total Current Assets | 4,832 | 4,290 | +12.6% |
| Allowance For Doubtful Accounts Receivable Current | 225 | 186 | +21.0% |
| Non-Current Assets | |||
| Long Term Accounts Notes And Loans Receivable Net Noncurrent | 1,264 | 1,264 | 0.0% |
| Property, Plant & Equipment | 11,673 | 11,993 | -2.7% |
| Restricted Cash And Cash Equivalents Noncurrent | 125 | 125 | 0.0% |
| Deferred Tax Assets | 160 | 122 | +31.1% |
| Other Non-Current Assets | 386 | 325 | +18.8% |
| Total Assets | 21,920 | 20,666 | +6.1% |
Show Business Segments breakouts |
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| Corporate And Other | 3,614 | 3,353 | +7.8% |
| Ferry Operations and Other [Member] · MO | 375 | 719 | -47.8% |
| Marina Bay Sands [Member] · SG | 7,760 | 6,173 | +25.7% |
| Sands Macao [Member] · MO | 258 | 253 | +2.0% |
| The Londoner Macao [Member] · MO | 4,635 | 4,665 | -0.6% |
| The Parisian Macao [Member] · MO | 1,636 | 1,710 | -4.3% |
| The Plaza Macao and Four Seasons Macao [Member] · MO | 953 | 987 | -3.4% |
| The Venetian Macao [Member] · MO | 2,689 | 2,806 | -4.2% |
Show Geography breakouts |
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| MO | 10,546 | 11,140 | -5.3% |
| Operating Lease Right-of-Use Assets | 44 | 48 | -8.3% |
| Goodwill | 103 | 102 | +1.0% |
| Intangible Assets | 470 | 443 | +6.1% |
Show Finite-Lived Intangible Assets Type [Axis] breakouts |
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| Finite-Lived Intangible Assets in Service [Member] | 463 | — | — |
Show Finite Lived Intangible Assets By Major Class breakouts |
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| Franchise Rights | 53 | — | — |
| Licensing Agreements | 410 | 405 | +1.2% |
| Technology Based Intangible Assets | 7 | 38 | -81.6% |
| Other Assets | |||
| Leasehold Interests In Land Net | 2,907 | 2,002 | +45.2% |
| Intangible Assets Net Including Goodwill | 573 | 545 | +5.1% |
| Current Liabilities | |||
| Accounts Payable | 190 | 164 | +15.9% |
| Construction Payable Current | 160 | 263 | -39.2% |
| Other Liabilities Current | 2,359 | 1,985 | +18.8% |
Show Related Party Transaction breakouts |
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| Related Party | 1 | 1 | 0.0% |
| Accrued Income Taxes Current | 385 | 229 | +68.1% |
| Long Term Debt And Capital Lease Obligations Current | 1,128 | 3,160 | -64.3% |
| Total Current Liabilities | 4,222 | 5,801 | -27.2% |
| Deferred Revenue (Current) (Q) | — | — | — |
Show Contract and Contract Related Liabilities [Axis] breakouts |
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| Customer Deposits [Member] | 773 | 608 | +27.1% |
| Outstanding Chip Liability [Member] | 181 | 112 | +61.6% |
| Non-Current Liabilities | |||
| Other Non-Current Liabilities | 934 | 925 | +1.0% |
| Deferred Tax Liabilities | 174 | 188 | -7.4% |
| Total Liabilities | 19,986 | 17,506 | +14.2% |
Show Subsegments breakouts |
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| Londoner Grand [Member] | 57 | — | — |
| Operating Lease Liabilities | 167 | 172 | -2.9% |
| Other Liabilities | |||
| Long Term Debt And Capital Lease Obligations | 14,656 | 10,592 | +38.4% |
| Stockholders' Equity | |||
| Common Stock | 1 | 1 | 0.0% |
| Treasury Stock Value | -9,028 | -6,759 | -33.6% |
| Additional Paid-In Capital | 6,159 | 6,245 | -1.4% |
| Accumulated Other Comprehensive Income | 71 | -58 | +222.4% |
| Retained Earnings | 4,387 | 3,455 | +27.0% |
| Total Stockholders' Equity | 1,590 | 2,884 | -44.9% |
| Minority Interest | 344 | 276 | +24.6% |
| Stockholders Equity Including Portion Attributable To Noncontrolling Interest | 1,934 | 3,160 | -38.8% |
Show Equity Components breakouts |
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| Accumulated Other Comprehensive Income | 71 | -58 | +222.4% |
| Additional Paid In Capital | 6,159 | 6,245 | -1.4% |
| Common Stock | 1 | 1 | 0.0% |
| Noncontrolling Interest | 344 | 276 | +24.6% |
| Retained Earnings | 4,387 | 3,455 | +27.0% |
| Treasury Stock Common | -9,028 | -6,759 | -33.6% |
| Total Liabilities & Equity | 21,920 | 20,666 | +6.1% |
| Common Stock Par Or Stated Value Per Share | 0 | 0 | 0.0% |
Show Legal Entity breakouts |
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| Sands China Ltd. [Member] | 0.01 | — | — |
| Common Stock Shares Authorized | 1,000 | 1,000 | 0.0% |
| Common Stock Shares Issued | 840 | 834 | +0.7% |
| Common Stock Shares Outstanding | 675 | 716 | -5.7% |
Show Equity Components breakouts |
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| Common Stock | 674,914,434 | 716,299,901 | -5.8% |
| Treasury Stock Common Shares | 165 | 118 | +39.8% |
| Preferred Stock Par Or Stated Value Per Share | 0 | 0 | 0.0% |
| Preferred Stock Shares Authorized | 50 | 50 | 0.0% |
Cash Flow Statement
| Metric | YTD Q4 2025 | YTD Q4 2024 | YoY |
|---|---|---|---|
| Operating Activities | |||
| Amortization Of Financing Costs And Discounts | 15 | 13 | +15.4% |
| Gain Loss On Disposal Or Impairment Of Assets | 162 | 3 | +5300.0% |
| Stock-Based Compensation | 15 | 13 | +15.4% |
| Foreign Currency Transaction Gain Loss Unrealized | 4 | -1 | +500.0% |
| Deferred Income Taxes | -4 | 20 | -120.0% |
| Change in Accounts Receivable | -237 | -26 | -811.5% |
| Increase Decrease In Other Operating Assets | -1 | -20 | +95.0% |
| Increase Decrease In Accounts Payable Trade | 21 | 29 | -27.6% |
| Increase Decrease In Other Operating Liabilities | 351 | 138 | +154.3% |
| Net Cash from Operations | 1,204 | 915 | +31.6% |
| Change in Deferred Revenue (Q) | — | — | — |
Show Contract and Contract Related Liabilities [Axis] breakouts |
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| Customer Deposits and Other Deferred Revenue [Member] | 111 | -17 | +752.9% |
| Loyalty Program Liability [Member] | 3 | -1 | +400.0% |
| Outstanding Chip Liability [Member] | 44 | -17 | +358.8% |
| Investing Activities | |||
| Capital Expenditures | -274 | -547 | +49.9% |
| Proceeds From Sale Of Property Plant And Equipment | 0 | 0 | — |
| Payments To Acquire Intangible Assets And Other | 0 | -3 | +100.0% |
| Net Cash from Investing | -266 | -550 | +51.6% |
| Financing Activities | |||
| Proceeds From Stock Options Exercised | 263 | 0 | — |
| Tax Withholding for Share Compensation | 0 | -1 | +100.0% |
| Share Repurchases | -501 | -450 | -11.3% |
| Payments Of Dividends | -169 | -145 | -16.6% |
| Proceeds From Issuance Of Long Term Debt | 0 | 0 | — |
Show — breakouts |
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| Proceeds From Issuance Of Long Term Debt | 0 | 0 | — |
| Payments Of Financing Costs | 0 | -39 | +100.0% |
| Proceeds From Payments For Other Financing Activities | -5 | -2 | -150.0% |
| Net Cash from Financing | -451 | -879 | +48.7% |
| Supplemental | |||
| Interest Paid | 143 | 87 | +64.4% |
| Increase Decrease In Construction Payables | -35 | -72 | +51.4% |
| Excise Tax Accrued On Repurchase Of Common Stock | 1 | 4 | -75.0% |
| Income Taxes Paid | 39 | 16 | +143.8% |
| Other Cash Flow | |||
| Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations | 1 | -44 | +102.3% |
| Net Change in Cash | 488 | -558 | +187.5% |
| Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents | 3,966 | 3,775 | +5.1% |
Values in millions USD. Source: SEC EDGAR 10-K filing.