Las Vegas SandsLVSEarnings & Financial Report
Las Vegas Sands Corp. is an American casino and resort company with corporate headquarters in Las Vegas, Nevada. It was founded by Sheldon G. Adelson and his partners out of the Sands Hotel and Casino on the Las Vegas Strip. The Sands was demolished and redeveloped as The Venetian, opening in 1999. An adjacent resort, The Palazzo, opened in 2007. Both resorts were sold in 2022.
LVS Q4 2025 Key Financial Metrics
Revenue
$3.6B
Gross Profit
N/A
Operating Profit
$707.0M
Net Profit
$395.0M
Gross Margin
N/A
Operating Margin
19.4%
Net Margin
10.8%
YoY Growth
26.0%
EPS
$0.58
Financial Flow
Las Vegas Sands Q4 2025 Financial Summary
Las Vegas Sands reported revenue of $3.6B for Q4 2025, with a net profit of $395.0M (10.8% margin). Cost of goods sold was N/A, operating expenses totaled N/A.
Key Financial Metrics
| Total Revenue | $3.6B |
|---|---|
| Net Profit | $395.0M |
| Gross Margin | N/A |
| Operating Margin | 19.4% |
| Report Period | Q4 2025 |
Las Vegas Sands Annual Revenue by Year
Las Vegas Sands annual revenue history includes year-by-year totals (for example, 2025 revenue was $13.0B).
| Year | Annual Revenue |
|---|---|
| 2025 | $13.0B |
| 2024 | $11.3B |
| 2023 | $10.4B |
| 2022 | $4.1B |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.96B | $2.76B | $2.68B | $2.90B | $2.86B | $3.17B | $3.33B | $3.65B |
| YoY Growth | 39.6% | 8.6% | -4.0% | -0.7% | -3.3% | 15.0% | 24.2% | 26.0% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $21.25B | $21.11B | $21.35B | $20.67B | $21.25B | $21.85B | $21.50B | $21.92B |
| Liabilities | $17.22B | $17.22B | $17.71B | $17.51B | $18.21B | $19.57B | $19.64B | $19.99B |
| Equity | $3.95B | $3.75B | $3.43B | $2.88B | $2.70B | $1.99B | $1.57B | $1.59B |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $714.0M | $814.0M | $761.0M | $915.0M | $526.0M | $178.0M | $1.11B | $1.20B |
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