Las Vegas Sands Corp
Las Vegas Sands Corp., together with its subsidiaries, owns, develops, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, and The Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore. The company's integrated resorts fe… Read more
Las Vegas Sands Corp (LVS) - Net Assets
Latest net assets as of December 2025: $1.93 Billion USD
Based on the latest financial reports, Las Vegas Sands Corp (LVS) has net assets worth $1.93 Billion USD as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($21.92 Billion) and total liabilities ($19.99 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $1.93 Billion |
| % of Total Assets | 8.82% |
| Annual Growth Rate | 13.73% |
| 5-Year Change | -13.97% |
| 10-Year Change | -74.2% |
| Growth Volatility | 147.2 |
Las Vegas Sands Corp - Net Assets Trend (2002–2025)
This chart illustrates how Las Vegas Sands Corp's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Las Vegas Sands Corp (2002–2025)
The table below shows the annual net assets of Las Vegas Sands Corp from 2002 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $1.93 Billion | -38.80% |
| 2024-12-31 | $3.16 Billion | -23.00% |
| 2023-12-31 | $4.10 Billion | +12.25% |
| 2022-12-31 | $3.66 Billion | +62.63% |
| 2021-12-31 | $2.25 Billion | -36.46% |
| 2020-12-31 | $3.54 Billion | -45.63% |
| 2019-12-31 | $6.51 Billion | -3.53% |
| 2018-12-31 | $6.75 Billion | -11.56% |
| 2017-12-31 | $7.63 Billion | +1.75% |
| 2016-12-31 | $7.50 Billion | -10.95% |
| 2015-12-31 | $8.42 Billion | -6.68% |
| 2014-12-31 | $9.02 Billion | -5.05% |
| 2013-12-31 | $9.50 Billion | +9.73% |
| 2012-12-31 | $8.66 Billion | -8.27% |
| 2011-12-31 | $9.44 Billion | +19.01% |
| 2010-12-31 | $7.93 Billion | +14.27% |
| 2009-12-31 | $6.94 Billion | +56.84% |
| 2008-12-31 | $4.43 Billion | +95.78% |
| 2007-12-31 | $2.26 Billion | +8.92% |
| 2006-12-31 | $2.08 Billion | +28.93% |
| 2005-12-31 | $1.61 Billion | +22.31% |
| 2004-12-31 | $1.32 Billion | +711.81% |
| 2003-12-31 | $162.11 Million | +61.49% |
| 2002-12-31 | $100.38 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Las Vegas Sands Corp's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 438700000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $4.39 Billion | 275.91% |
| Common Stock | $1.00 Million | 0.06% |
| Other Comprehensive Income | $71.00 Million | 4.47% |
| Total Equity | $1.59 Billion | 100.00% |
Las Vegas Sands Corp Competitors by Market Cap
The table below lists competitors of Las Vegas Sands Corp ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Centene Corp
NYSE:CNC
|
$17.01 Billion |
|
Maruti Suzuki India Limited
NSE:MARUTI
|
$17.02 Billion |
|
Weyerhaeuser Company
NYSE:WY
|
$17.03 Billion |
|
Rollins Inc
NYSE:ROL
|
$17.04 Billion |
|
Tbea Co Ltd
SHG:600089
|
$16.96 Billion |
|
Tencent Music Entertainment Group
NYSE:TME
|
$16.95 Billion |
|
B3 S.A. - Brasil Bolsa Balcão
PINK:BOLSY
|
$16.93 Billion |
|
Astellas Pharma Inc
PINK:ALPMF
|
$16.93 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Las Vegas Sands Corp's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,884,000,000 to 1,590,000,000, a change of -1,294,000,000 (-44.9%).
- Net income of 1,627,000,000 contributed positively to equity growth.
- Dividend payments of 833,000,000 reduced retained earnings.
- Share repurchases of 2,217,000,000 reduced equity.
- Other comprehensive income increased equity by 129,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.63 Billion | +102.33% |
| Dividends Paid | $833.00 Million | -52.39% |
| Share Repurchases | $2.22 Billion | -139.43% |
| Other Comprehensive Income | $129.00 Million | +8.11% |
| Total Change | $- | -44.87% |
Book Value vs Market Value Analysis
This analysis compares Las Vegas Sands Corp's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 23.41x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 174.82x to 23.41x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2000-12-31 | $0.31 | $53.70 | x |
| 2001-12-31 | $0.28 | $53.70 | x |
| 2002-12-31 | $0.28 | $53.70 | x |
| 2003-12-31 | $0.50 | $53.70 | x |
| 2004-12-31 | $4.03 | $53.70 | x |
| 2005-12-31 | $4.54 | $53.70 | x |
| 2006-12-31 | $5.84 | $53.70 | x |
| 2007-12-31 | $6.35 | $53.70 | x |
| 2008-12-31 | $11.28 | $53.70 | x |
| 2009-12-31 | $8.91 | $53.70 | x |
| 2010-12-31 | $8.42 | $53.70 | x |
| 2011-12-31 | $9.67 | $53.70 | x |
| 2012-12-31 | $8.56 | $53.70 | x |
| 2013-12-31 | $9.28 | $53.70 | x |
| 2014-12-31 | $8.93 | $53.70 | x |
| 2015-12-31 | $8.55 | $53.70 | x |
| 2016-12-31 | $7.77 | $53.70 | x |
| 2017-12-31 | $8.20 | $53.70 | x |
| 2018-12-31 | $7.23 | $53.70 | x |
| 2019-12-31 | $6.73 | $53.70 | x |
| 2020-12-31 | $3.89 | $53.70 | x |
| 2021-12-31 | $2.61 | $53.70 | x |
| 2022-12-31 | $5.08 | $53.70 | x |
| 2023-12-31 | $5.38 | $53.70 | x |
| 2024-12-31 | $3.91 | $53.70 | x |
| 2025-12-31 | $2.29 | $53.70 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Las Vegas Sands Corp utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 102.33%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 12.50%
- • Asset Turnover: 0.59x
- • Equity Multiplier: 13.79x
- Recent ROE (102.33%) is above the historical average (18.56%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2000 | 16.28% | 2.63% | 0.48x | 12.81x | $6.50 Million |
| 2001 | 7.02% | 1.34% | 0.43x | 12.15x | $-3.34 Million |
| 2002 | -11.80% | -1.90% | 0.39x | 16.01x | $-21.88 Million |
| 2003 | 41.10% | 9.63% | 0.36x | 11.83x | $50.42 Million |
| 2004 | 37.63% | 41.37% | 0.33x | 2.74x | $363.58 Million |
| 2005 | 17.63% | 16.30% | 0.45x | 2.41x | $122.73 Million |
| 2006 | 21.30% | 19.76% | 0.31x | 3.43x | $234.49 Million |
| 2007 | 5.16% | 3.95% | 0.26x | 5.07x | $-109.34 Million |
| 2008 | -4.27% | -4.30% | 0.26x | 3.88x | $-630.97 Million |
| 2009 | -7.64% | -9.80% | 0.22x | 3.52x | $-1.03 Billion |
| 2010 | 7.51% | 7.30% | 0.33x | 3.16x | $-166.03 Million |
| 2011 | 16.98% | 14.17% | 0.42x | 2.83x | $548.36 Million |
| 2012 | 21.58% | 13.69% | 0.50x | 3.14x | $817.91 Million |
| 2013 | 30.08% | 16.75% | 0.61x | 2.96x | $1.54 Billion |
| 2014 | 39.38% | 19.48% | 0.65x | 3.10x | $2.12 Billion |
| 2015 | 28.84% | 16.82% | 0.56x | 3.06x | $1.28 Billion |
| 2016 | 27.04% | 14.82% | 0.55x | 3.31x | $1.05 Billion |
| 2017 | 43.25% | 22.06% | 0.62x | 3.19x | $2.16 Billion |
| 2018 | 42.45% | 17.58% | 0.61x | 3.97x | $1.84 Billion |
| 2019 | 52.01% | 22.25% | 0.52x | 4.47x | $2.18 Billion |
| 2020 | -56.68% | -57.31% | 0.14x | 7.00x | $-1.98 Billion |
| 2021 | -48.15% | -22.70% | 0.21x | 10.05x | $-1.16 Billion |
| 2022 | -26.28% | -24.82% | 0.19x | 5.68x | $-1.41 Billion |
| 2023 | 29.65% | 11.77% | 0.48x | 5.29x | $809.20 Million |
| 2024 | 50.14% | 12.80% | 0.55x | 7.17x | $1.16 Billion |
| 2025 | 102.33% | 12.50% | 0.59x | 13.79x | $1.47 Billion |
Industry Comparison
This section compares Las Vegas Sands Corp's net assets metrics with peer companies in the Resorts & Casinos industry.
Industry Context
- Industry: Resorts & Casinos
- Average net assets among peers: $3,859,979,137
- Average return on equity (ROE) among peers: -4.40%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Las Vegas Sands Corp (LVS) | $1.93 Billion | 16.28% | 10.33x | $17.01 Billion |
| Archon Corporation (ARHN) | $24.65 Million | -30.23% | 8.66x | $138.42K |
| Bally's Corp (BALY) | $211.41 Million | 26.08% | 3.83x | $134.40 Million |
| Bloomberry Resorts Corporation (BLBRF) | $30.29 Billion | 20.05% | 1.40x | $522.71 Million |
| Blue Ridge Real Estate Company (BRRE) | $-708.73K | 0.00% | 0.00x | $8.61 Million |
| Boyd Gaming Corporation (BYD) | $1.11 Billion | 10.52% | 2.51x | $4.34 Billion |
| Banyan Tree Holdings Limited (BYNEF) | $719.75 Million | 1.87% | 1.27x | $195.40K |
| Concorde Gaming Corporation (CGAM) | $1.98 Million | -48.86% | 7.92x | $0.91 |
| Century Casinos Inc (CNTY) | $126.98 Million | -37.80% | 4.36x | $29.64 Million |
| Canterbury Park Holding Corporation (CPHC) | $49.42 Million | 5.50% | 0.32x | $39.22 Million |
| Caesars Entertainment Corporation (CZR) | $6.07 Billion | 8.83% | 2.67x | $3.95 Billion |