Las Vegas Sands Corp. (LVS) Stock

Las Vegas Sands Corp. (LVS) is a Consumer Discretionary stock trading at $45.97 (as of 2026-08-20), with a market capitalization of $29.77B and a trailing P/E of 17.2. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Las Vegas Sands Corp. develops, owns, and operates integrated resort properties in Asia and the United States, including Marina Bay Sands in Singapore and multiple resorts in Macao, China, as well as its Las Vegas Strip property and Sands Expo and Convention Center in Nevada. Its resorts include accommodations, gaming, entertainment, retail, and convention facilities serving leisure and business visitors.

Understand Las Vegas Sands Corp.: how it makes money

Las Vegas Sands Corp. develops, owns, and operates integrated casino resorts in Macao, Singapore, and Las Vegas, and it makes money primarily from gaming casino revenue, supported by hotel rooms and other on-site spending.

The profit model is driven by casino economics, because casino revenue is the largest single operating revenue stream and it is especially tied to mass gaming at the Macao property portfolio.

Revenue by segment (latest quarter)
Macao	$1.7B
Marina Bay Sands	$1.4B
Las Vegas	$0.4B

Business quality (Exceptional): Operating performance is most directly observable through casino activity, with Macao mass gaming and overall casino revenue as key drivers, but the company is also exposed to concentration across its major resort markets.

Valuation: At 18× earnings, LVS trades 34% below the Restaurants, Hotels & Motels average (27×). Note: one-time items can distort reported P/E.

Bull case

Casino is the core revenue engine: Casino revenue is the largest operating revenue stream in the provided figures (2.74B out of 3.58B net revenue).
Diversified spend within resorts: The resorts also generate additional revenue lines such as rooms (0.38B) and food and beverage (0.19B), which typically help support the overall integrated-resort model.

Bear case

High dependence on casino performance: If casino revenue weakens, it is likely to have an outsized impact because it represents the largest portion of net revenue in the provided breakdown.
Geographic concentration in a few resort markets: The company’s key assets are concentrated in Macao (multiple properties), Singapore (Marina Bay Sands), and Las Vegas (one integrated resort plus Sands Expo and Convention Center), which can concentrate earnings risk in those markets.

Valuation — source: SEC EDGAR (first-party)
Price	$45.97
Market Cap	$29.77B
P/E Ratio	17.2
EV / EBITDA	6.0
Price / Book	33.19
Price / Sales	2.17
FCF Yield	9.1%
DCF Value (model)	$98.64
DCF Upside vs Price	114.6%

Profitability & Growth — source: SEC EDGAR
Revenue (TTM)	$13.02B
Net Margin	12.5%
Revenue Growth (YoY)	-0.7%
EPS Growth (YoY)	-19.7%
FCF Growth (YoY)	-424.1%

Financial Health — source: SEC EDGAR
Altman Z-Score	2.26 (grey)

Valuation vs Sector & Industry
Stock P/E	17.2
Sector P/E (Consumer Discretionary)	20.5
Industry P/E (Restaurants, Hotels & Motels)	26.6
vs Sector	-15.8%
vs Industry	-35.1%

Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional Holder	VANGUARD GROUP INC ($2.64B)
Institutional Holders Tracked	10
Congressional Trades (recent)	4

Company
Sector	Consumer Discretionary
Industry	Restaurants, Hotels & Motels
CEO	Robert Glen Goldstein
Employees	39,900
Country	US
IPO Date	2004-12-15

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Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.