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Side-by-side financial comparison of Air Products (APD) and Las Vegas Sands (LVS). Click either name above to swap in a different company.
Las Vegas Sands is the larger business by last-quarter revenue ($3.6B vs $3.2B, roughly 1.1× Air Products). Air Products runs the higher net margin — 22.9% vs 17.9%, a 5.0% gap on every dollar of revenue. On growth, Las Vegas Sands posted the faster year-over-year revenue change (25.3% vs 8.8%). Over the past eight quarters, Las Vegas Sands's revenue compounded faster (13.9% CAGR vs 3.1%).
Air Products and Chemicals, Inc. provides atmospheric gases, process and specialty gases, equipment, and services worldwide. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, syngas; specialty gases; and equipment for the production or processing of gases comprising air separation units and non-cryogenic generators for customers in various industries, including refining, chemical, gasificati...
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.
APD vs LVS — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $3.2B | $3.6B |
| Net Profit | $724.8M | $641.0M |
| Gross Margin | 31.1% | — |
| Operating Margin | — | 25.2% |
| Net Margin | 22.9% | 17.9% |
| Revenue YoY | 8.8% | 25.3% |
| Net Profit YoY | 166.6% | 57.1% |
| EPS (diluted) | $3.19 | $0.85 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $3.2B | $3.6B | ||
| Q4 25 | $3.1B | $3.6B | ||
| Q3 25 | $3.2B | $3.3B | ||
| Q2 25 | $3.0B | $3.2B | ||
| Q1 25 | $2.9B | $2.9B | ||
| Q4 24 | $2.9B | $2.9B | ||
| Q3 24 | $3.2B | $2.7B | ||
| Q2 24 | $3.0B | $2.8B |
| Q1 26 | $724.8M | $641.0M | ||
| Q4 25 | $678.2M | $395.0M | ||
| Q3 25 | $4.9M | $419.0M | ||
| Q2 25 | $713.8M | $461.0M | ||
| Q1 25 | $-1.7B | $352.0M | ||
| Q4 24 | $617.4M | $324.0M | ||
| Q3 24 | $1.9B | $275.0M | ||
| Q2 24 | $696.6M | $353.0M |
| Q1 26 | 31.1% | — | ||
| Q4 25 | 32.1% | — | ||
| Q3 25 | 32.3% | — | ||
| Q2 25 | 32.5% | — | ||
| Q1 25 | 29.6% | — | ||
| Q4 24 | 31.2% | — | ||
| Q3 24 | 34.0% | — | ||
| Q2 24 | 32.8% | — |
| Q1 26 | — | 25.2% | ||
| Q4 25 | 23.7% | 19.4% | ||
| Q3 25 | 0.5% | 21.6% | ||
| Q2 25 | 26.2% | 24.7% | ||
| Q1 25 | -79.8% | 21.3% | ||
| Q4 24 | 22.0% | 20.4% | ||
| Q3 24 | 76.1% | 18.8% | ||
| Q2 24 | 24.7% | 21.4% |
| Q1 26 | 22.9% | 17.9% | ||
| Q4 25 | 21.9% | 10.8% | ||
| Q3 25 | 0.2% | 12.6% | ||
| Q2 25 | 23.6% | 14.5% | ||
| Q1 25 | -59.3% | 12.3% | ||
| Q4 24 | 21.1% | 11.2% | ||
| Q3 24 | 61.2% | 10.3% | ||
| Q2 24 | 23.3% | 12.8% |
| Q1 26 | $3.19 | $0.85 | ||
| Q4 25 | $3.04 | $0.59 | ||
| Q3 25 | $0.03 | $0.61 | ||
| Q2 25 | $3.20 | $0.66 | ||
| Q1 25 | $-7.77 | $0.49 | ||
| Q4 24 | $2.77 | $0.44 | ||
| Q3 24 | $8.75 | $0.38 | ||
| Q2 24 | $3.13 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | $17.4M | — |
| Stockholders' EquityBook value | $18.1M | — |
| Total Assets | $41.6M | — |
| Debt / EquityLower = less leverage | 0.96× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.0B | $3.8B | ||
| Q3 25 | $1.9B | $3.4B | ||
| Q2 25 | $2.3B | $3.5B | ||
| Q1 25 | $1.6B | $3.0B | ||
| Q4 24 | $2.0B | $3.6B | ||
| Q3 24 | $3.0B | $4.2B | ||
| Q2 24 | $2.4B | $4.7B |
| Q1 26 | $17.4M | — | ||
| Q4 25 | — | $14.7B | ||
| Q3 25 | — | $13.9B | ||
| Q2 25 | — | $14.9B | ||
| Q1 25 | — | $10.9B | ||
| Q4 24 | — | $10.6B | ||
| Q3 24 | — | $11.3B | ||
| Q2 24 | — | $12.8B |
| Q1 26 | $18.1M | — | ||
| Q4 25 | $15.4B | $1.6B | ||
| Q3 25 | $15.0B | $1.6B | ||
| Q2 25 | $15.5B | $2.0B | ||
| Q1 25 | $14.7B | $2.7B | ||
| Q4 24 | $16.7B | $2.9B | ||
| Q3 24 | $17.0B | $3.4B | ||
| Q2 24 | $15.1B | $3.8B |
| Q1 26 | $41.6M | — | ||
| Q4 25 | $41.2B | $21.9B | ||
| Q3 25 | $41.1B | $21.5B | ||
| Q2 25 | $41.7B | $21.9B | ||
| Q1 25 | $38.9B | $21.2B | ||
| Q4 24 | $40.0B | $20.7B | ||
| Q3 24 | $39.6B | $21.4B | ||
| Q2 24 | $37.0B | $21.1B |
| Q1 26 | 0.96× | — | ||
| Q4 25 | — | 9.22× | ||
| Q3 25 | — | 8.82× | ||
| Q2 25 | — | 7.48× | ||
| Q1 25 | — | 4.02× | ||
| Q4 24 | — | 3.67× | ||
| Q3 24 | — | 3.29× | ||
| Q2 24 | — | 3.41× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APD
Segment breakdown not available.
LVS
| Casino | $2.7B | 76% |
| Rooms | $377.0M | 11% |
| Mall | $204.0M | 6% |
| Food and beverage | $176.0M | 5% |
| Convention, retail and other | $89.0M | 2% |
