Company / Operating Margin
Las Vegas Sands Operating Margin History
FY2016-FY2025 · Annual data · Source: SEC filings
At a glance
Latest annual filing availableLatest Operating Margin
21.3%
FY2025
5-year range
-19.3% / 22.3%
FY2021-FY2025
Trend
+0.1%
vs FY2024
Sector context
#24 of 184
Consumer Discretionary
What the data says
Las Vegas Sands's operating margin of 21.3% is higher than 87% of companies in the Consumer Discretionary sector (FY2025). Operating Margin has fluctuated over the past 10 years, ranging from -47.4% in FY2020 to 27.8% in FY2019.
Based on SEC 10-K filings.
21.3% in FY2025 with a 5-year CAGR of +68.7%. Top quartile in the Consumer Discretionary sector.
Declined from 22.3% to 21.3% over the past 2 years.
Consumer Discretionary sector context is included.
Operating Margin over time
Growth rates
- 3-Year Change
- +40.5pp
- 5-Year Change
- +68.7pp
- 10-Year Change
- -
Sector benchmark
+534.1% above sector average
Key checks
Key Insights
- In FY2025, operating margin increased 0.1% year-over-year.
- Currently 17.9pp above the Consumer Discretionary sector average.
- Peak operating margin was recorded in FY2019.
- Lowest operating margin in the period was in FY2020.
Company context
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.
Annual data
| Year | Operating MarginValue | YoY GrowthYoY |
|---|---|---|
| FY2025 | 21.3% | +0.1% |
| FY2024 | 21.3% | -4.7% |
| FY2023 | 22.3% | +215.7% |
| FY2022 | -19.3% | -18.4% |
| FY2021 | -16.3% | +65.7% |
| FY2020 | -47.4% | -270.7% |
| FY2019 | 27.8% | +1.6% |
| FY2018 | 27.3% | +0.4% |
| FY2017 | 27.2% | +22.6% |
| FY2016 | 22.2% | -8.7% |
As of FY2025 · SEC 10-K · Updated Feb 28, 2026