LAS VEGAS SANDS CORP
Fiscal years labelled by the calendar year in which they end. Bars in $ billions; per-share figures as reported.
CAPITALIZATION 12/31/25
| ($ millions) | Amount | % |
|---|---|---|
| Total debt | 15,770 | 90.8 |
| Stockholders' equity | 1,590 | 9.2 |
| Total capitalization | 17,360 | 100.0 |
647,701,184 shares outstanding at 22 July 2026 (cover page of the 10-Q filed 24 July 2026).
LONG-TERM DEBT 12/31/25
| ($ millions) | Amount |
|---|---|
| Long-term debt, incl. current maturities | 15,770 |
| Long-term debt, noncurrent | 14,656 |
| Current maturities | 1,128 |
CAPITAL STOCK 12/31/25
| Common shares authorized | 1,000,000,000 |
| Common shares issued | 840,000,000 |
| Treasury shares | 165,000,000 |
| Par or stated value per share ($) | 0.001 |
| Preferred stock ($ millions) | 0 |
| Outstanding at 7/22/26 | 647,701,184 |
DIVIDENDS DECLARED/PAID
| Fiscal year | Per share $ | Payout % |
|---|---|---|
| 2025 | 1.00 | 42.6 |
| 2024 | 0.80 | 40.8 |
| 2023 | 0.40 | 25.0 |
| 2022 | – | – |
| 2021 | – | – |
HISTORY AND BUSINESS
HISTORY: Incorporated in Nevada.
BUSINESS: Classified by the SEC under Standard Industrial Classification 7011, Hotels & Motels. Large accelerated filer. Principal executive office: 5420 S. Durango Drive, Las Vegas, NV 89113. Fiscal year ends December 31. For a description of the business, see Item 1 of the latest 10-K.
CONSOLIDATED INCOME ACCOUNT, YEARS ENDED
| ($ millions) | 12/31/25 | 12/31/24 | 12/31/23 |
|---|---|---|---|
| Revenues | 13,017 | 11,298 | 10,372 |
| Research and development | 269 | 228 | 205 |
| Selling, general and administrative | 1,188 | 1,150 | 1,107 |
| Depreciation and amortization | 1,464 | 1,308 | 1,208 |
| Operating income | 2,818 | 2,402 | 2,313 |
| Interest expense | 746 | 727 | 818 |
| Income before income taxes | 2,213 | 1,960 | 1,775 |
| Income taxes | 347 | 208 | 344 |
| Net income | 1,627 | 1,446 | 1,221 |
| Earned per share, diluted ($) | 2.35 | 1.96 | 1.60 |
| Dividends per share ($) | 1.00 | 0.80 | 0.40 |
CONSOLIDATED BALANCE SHEET
| ($ millions) | 12/31/25 | 12/31/24 |
|---|---|---|
| Cash and equivalents | 3,841 | 3,650 |
| Receivables, net | 742 | 417 |
| Inventories | 46 | 41 |
| Total current assets | 4,832 | 4,290 |
| Property, plant and equipment, net | 11,673 | 11,993 |
| Goodwill | 103 | 102 |
| Total assets | 21,920 | 20,666 |
| Total current liabilities | 4,222 | 5,801 |
| Long-term debt | 14,656 | 10,592 |
| Total liabilities | 19,986 | 17,506 |
| Stockholders' equity | 1,590 | 2,884 |
| Total liabilities and equity | 21,920 | 20,666 |
TEN-YEAR STATISTICS: FISCAL YEARS ($ millions except per share)
| Fiscal year ended | Revenues | Oper. income | Net income | Net margin % | EPS diluted $ | Div. per share $ | Oper. cash flow | Capital expend. | Free cash flow | Total assets | Total liabilities | Total debt | Stockholders' equity | ROE % | Debt / equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 12/31/25 | 13,017 | 2,818 | 1,627 | 12.5 | 2.35 | 1.00 | 3,023 | 1,168 | 1,855 | 21,920 | 19,986 | 15,770 | 1,590 | 102.3 | 9.92 |
| 12/31/24 | 11,298 | 2,402 | 1,446 | 12.8 | 1.96 | 0.80 | 3,204 | 1,567 | 1,637 | 20,666 | 17,506 | 13,689 | 2,884 | 50.1 | 4.75 |
| 12/31/23 | 10,372 | 2,313 | 1,221 | 11.8 | 1.60 | 0.40 | 3,227 | 1,017 | 2,210 | 21,778 | 17,674 | 14,090 | 4,118 | 29.7 | 3.42 |
| 12/31/22 | 4,110 | (792) | 1,832 | 44.6 | 2.40 | – | (944) | 651 | (1,595) | 22,039 | 18,383 | 16,060 | 3,881 | 47.2 | 4.14 |
| 12/31/21 | 4,234 | (689) | (961) | -22.7 | (1.26) | – | (243) | 828 | (1,071) | 20,059 | 17,811 | 14,924 | 1,996 | -48.1 | 7.48 |
| 12/31/20 | 2,940 | (1,393) | (1,685) | -57.3 | (2.21) | 0.79 | (1,312) | 1,227 | (2,539) | 20,807 | 17,269 | 14,120 | 2,973 | -56.7 | 4.75 |
| 12/31/19 | 12,127 | 3,365 | 2,698 | 22.2 | 3.50 | 3.08 | 3,038 | 1,018 | 2,020 | 23,199 | 16,692 | 12,577 | 5,187 | 52.0 | 2.42 |
| 12/31/18 | 13,729 | 3,751 | 2,413 | 17.6 | 3.07 | 3.00 | 4,701 | 949 | 3,752 | 22,547 | 15,802 | 12,069 | 5,684 | 42.5 | 2.12 |
| 12/31/17 | 12,728 | 3,464 | 2,808 | 22.1 | 3.55 | 2.92 | 4,543 | 837 | 3,706 | 20,687 | 13,060 | 9,640 | 6,486 | 43.3 | 1.49 |
| 12/31/16 | 11,271 | 2,502 | 1,679 | 14.9 | 2.11 | 2.88 | 4,044 | 1,398 | 2,646 | 20,469 | 12,973 | 9,595 | 6,177 | 27.2 | 1.55 |
Net margin = net income ÷ revenues; ROE = net income ÷ year-end stockholders’ equity; total debt = long-term debt including current maturities plus short-term borrowings/commercial paper, as tagged in XBRL; free cash flow = operating cash flow − purchases of property, plant and equipment; d = derived as total assets − total equity where the filing does not tag total liabilities; – = not reported in XBRL for that year.
REGISTRANT:
LAS VEGAS SANDS CORP
CIK 1300514 · EIN 27-0099920
PRINCIPAL OFFICE:
5420 S. Durango Drive, Las Vegas, NV 89113
Tel.: 702-923-9000
INCORPORATED:
Nevada
INDUSTRY (SEC SIC CODE):
7011 · Hotels & Motels
FILER STATUS:
Large accelerated filer
LATEST ANNUAL REPORT:
10-K for period ended 12/31/25, filed 6 February 2026
Sources: SEC XBRL company facts (all financial figures) · SEC submissions (registrant, address, SIC, filings) · annual reports: 10-K FY2025 (filed 2/6/26) · 10-K FY2024 (filed 2/7/25) · 10-K FY2023 (filed 2/7/24) · 10-K FY2022 (filed 2/3/23) · 10-K FY2021 (filed 2/4/22) · 10-K FY2020 (filed 2/5/21) · 10-K FY2019 (filed 2/7/20) · 10-K FY2018 (filed 2/22/19). Values are the latest figures filed for each fiscal year (restated where a later 10-K restated them). Ratios and free cash flow are Pathos calculations from those figures. Retrieved 31 October 2026.
Data from SEC filings. © 2026 Pathos Investments · pathosinvestments.com · For educational purposes only. Not investment advice.