Las Vegas Sands Income Statement

LVS / Consumer Discretionary|15 years of annual SEC 10-K data (FY2011-FY2025)

Line items include revenue, cost of goods sold, gross profit, operating expenses, interest, taxes, and net income with per-share data across 15 fiscal years. All figures from audited SEC 10-K filings.

Las Vegas Sands reported $2.9B in revenue and $352M in net income for FY2025. Revenue has declined at a 8.2% compound annual rate over the past 14 years.

Based on SEC 10-K filings.

Key Data Points

Altman Z-Score 0.44 (distress zone, below 1.8 threshold)
High earnings quality (cash-backed earnings)
Strong return on equity: 53.9%

Data sourced from SEC EDGAR filings. Not investment advice.

Item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011
Revenue	$2.9B	$11.3B	$10.4B	$4.1B	$4.2B	$2.9B	$12.1B	$13.7B	$12.7B	$11.3B	$11.7B	$14.6B	$13.8B	$11.1B	$9.4B
SG&A Expense	$1.2B	$1.1B	$1.1B	$936.0M	$831.0M	$798.0M	$1.1B	$1.5B	$1.4B	$1.3B	$1.3B	$1.3B	$1.3B	$1.1B	$836.9M
R&D Expense	$269.0M	$228.0M	$205.0M	$143.0M	$109.0M	$18.0M	$24.0M	$12.0M	$13.0M	$9.0M	$10.0M	$14.0M	$15.8M	$20.0M	$11.3M
Operating Income	$609.0M	$2.4B	$2.3B	-$792.0M	-$689.0M	-$1.4B	$3.4B	$3.8B	$3.5B	$2.5B	$2.8B	$4.1B	$3.4B	$2.3B	$2.4B
Interest Expense	$746.0M	$727.0M	$818.0M	$702.0M	$621.0M	$523.0M	$449.0M	$446.0M	$327.0M	$274.0M	$265.0M	$274.0M	$271.2M	$258.6M	$282.9M
Income Tax	$347.0M	$208.0M	$344.0M	$154.0M	-$5.0M	$24.0M	$432.0M	$375.0M	-$209.0M	$239.0M	$236.0M	$245.0M	$188.8M	$180.8M	$211.7M
Net Income	$352.0M	$1.4B	$1.2B	$1.8B	-$961.0M	-$1.7B	$2.7B	$2.4B	$2.8B	$1.7B	$2.0B	$2.8B	$2.3B	$1.5B	$1.6B
EPS (Basic)	$1.60	$2.40	-$1.26	-$2.21	$3.50	$3.07	$3.55	$2.11	$2.47	$3.52	$2.80	$1.89	$1.74	$0.61	-$0.82
EPS (Diluted)	$1.60	$2.40	-$1.26	-$2.21	$3.50	$3.07	$3.55	$2.11	$2.47	$3.52	$2.79	$1.85	$1.56	$0.51	-$0.82
Shares Outstanding	716.0M	753.0M	764.0M	764.0M	764.0M	764.0M	775.0M	789.0M	795.0M	795.0M	798.3M	818.7M	707.5M	660.3M	641.8M
Operating Margin	21.3%	21.3%	22.3%	-19.3%	-16.3%	-47.4%	27.8%	27.3%	27.2%	22.2%	24.3%	28.1%	24.8%	20.8%	25.4%
Profit Margin	12.3%	12.8%	11.8%	44.6%	-22.7%	-57.3%	22.3%	17.6%	22.1%	14.9%	16.8%	19.5%	16.8%	13.7%	16.6%

Other Financial Statements

Balance Sheet Cash Flow Statement All Financial Data

Scores & Analysis

Piotroski F-Score Altman Z-Score Financial Ratios

Las Vegas Sands Profile All Financial Data

Item

FY2025

FY2024

FY2023

FY2022

FY2021

FY2020

FY2019

FY2018

FY2017

FY2016

FY2015

FY2014

FY2013

FY2012

FY2011

Revenue

$2.9B

$11.3B

$10.4B

$4.1B

$4.2B

$2.9B

$12.1B

$13.7B

$12.7B

$11.3B

$11.7B

$14.6B

$13.8B

$11.1B

$9.4B

SG&A Expense

$1.2B

$1.1B

$936.0M

$831.0M

$798.0M

$1.1B

$1.5B

$1.4B

$1.3B

$1.1B

$836.9M

R&D Expense

$269.0M

$228.0M

$205.0M

$143.0M

$109.0M

$18.0M

$24.0M

$12.0M

$13.0M

$9.0M

$10.0M

$14.0M

$15.8M

$20.0M

$11.3M

Operating Income

$609.0M

$2.4B

$2.3B

-$792.0M

-$689.0M

-$1.4B

$3.4B

$3.8B

$3.5B

$2.5B

$2.8B

$4.1B

$3.4B

$2.3B

$2.4B

Interest Expense

$746.0M

$727.0M

$818.0M

$702.0M

$621.0M

$523.0M

$449.0M

$446.0M

$327.0M

$274.0M

$265.0M

$274.0M

$271.2M

$258.6M

$282.9M

Income Tax

$347.0M

$208.0M

$344.0M

$154.0M

-$5.0M

$24.0M

$432.0M

$375.0M

-$209.0M

$239.0M

$236.0M

$245.0M

$188.8M

$180.8M

$211.7M

Net Income

$352.0M

$1.4B

$1.2B

$1.8B

-$961.0M

-$1.7B

$2.7B

$2.4B

$2.8B

$1.7B

$2.0B

$2.8B

$2.3B

$1.5B

$1.6B

EPS (Basic)

$1.60

$2.40

-$1.26

-$2.21

$3.50

$3.07

$3.55

$2.11

$2.47

$3.52

$2.80

$1.89

$1.74

$0.61

-$0.82

EPS (Diluted)

$1.60

$2.40

-$1.26

-$2.21

$3.50

$3.07

$3.55

$2.11

$2.47

$3.52

$2.79

$1.85

$1.56

$0.51

-$0.82

Shares Outstanding

716.0M

753.0M

764.0M

775.0M

789.0M

795.0M

798.3M

818.7M

707.5M

660.3M

641.8M

Operating Margin

21.3%

22.3%

-19.3%

-16.3%

-47.4%

27.8%

27.3%

27.2%

22.2%

24.3%

28.1%

24.8%

20.8%

25.4%

Profit Margin

12.3%

12.8%

11.8%

44.6%

-22.7%

-57.3%

22.3%

17.6%

22.1%

14.9%

16.8%

19.5%

16.8%

13.7%

16.6%