Las Vegas Sands (LVS) Cost of Revenue (2009 - 2026)

Las Vegas Sands' (LVS) quarterly Cost of Revenue came in at $92.0 million in Q1 2026, up 13.58% year-on-year from $81.0 million in Q1 2025, and up 8.24% quarter-over-quarter from $85.0 million in Q4 2025.

Las Vegas Sands (LVS) Cost of Revenue (2009 - 2026) Analysis & Trends

Las Vegas Sands' Cost of Revenue history runs 18 years deep, the most recent figure standing at $92.0 million for Q1 2026.

  • On a quarterly basis, Cost of Revenue rose 13.58% year-over-year to $92.0 million in Q1 2026; TTM through Mar 2026 was $368.0 million, a 91.82% decrease from a year earlier, with the FY2025 full-year figure at $262.0 million, down 94.32% from the prior year.
  • Cost of Revenue climbed to $92.0 million in Q1 2026 per LVS's latest filing, from $85.0 million in the prior quarter.
  • Across five years, Cost of Revenue topped out at $4.2 billion in Q4 2024 and bottomed at $27.0 million in Q3 2022.
  • The 5-year median for Cost of Revenue is $117.0 million (2023), against an average of $685.3 million.
  • Across the five-year window, Cost of Revenue surged 7790.0% in 2023 and sank 97.99% in 2025, its largest moves.
  • Year by year, Cost of Revenue stood at $50.0 million in 2022, then jumped by 7790.0% to $3.9 billion in 2023, then rose by 7.28% to $4.2 billion in 2024, then sank by 97.99% to $85.0 million in 2025, then gained by 8.24% to $92.0 million in 2026.
  • Per Business Quant, the three latest LVS Cost of Revenue figures stand at $92.0 million (Q1 2026), $85.0 million (Q4 2025), and $61.0 million (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Cost of Rev (Qtr)
1 Las Vegas Sands 30.75 Bn 27.42 Bn 3.49 Bn 92.00 Mn
2 MGM Resorts International 11.68 Bn 9.38 Bn 4.32 Bn 132.64 Mn
3 Wynn Resorts 9.99 Bn 9.89 Bn 1.75 Bn 109.91 Mn
4 Boyd Gaming 6.73 Bn 6.36 Bn 984.15 Mn 13.21 Mn
5 Melco Resorts & Entertainment 6.48 Bn 5.85 Bn - -
6 Caesars Entertainment 6.11 Bn 5.15 Bn 2.78 Bn 95.00 Mn
7 Vail Resorts 5.23 Bn 5.21 Bn - -
8 Hilton Grand Vacations 4.01 Bn 3.75 Bn 1.23 Bn 59.00 Mn
9 Red Rock Resorts 3.72 Bn 3.12 Bn 433.13 Mn 74.19 Mn
10 Studio City International Holdings 3.53 Bn 3.45 Bn 155.38 Mn 21.34 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 92.00 Mn
Mar 31, 2026 92.00 Mn
Dec 31, 2025 85.00 Mn
Dec 31, 2025 85.00 Mn
Sep 30, 2025 61.00 Mn
Sep 30, 2025 61.00 Mn
Jun 30, 2025 130.00 Mn
Jun 30, 2025 130.00 Mn
Mar 31, 2025 81.00 Mn
Mar 31, 2025 81.00 Mn
Dec 31, 2024 4.23 Bn
Dec 31, 2024 4.23 Bn
Sep 30, 2024 62.00 Mn
Sep 30, 2024 62.00 Mn
Jun 30, 2024 124.00 Mn
Jun 30, 2024 124.00 Mn
Mar 31, 2024 126.00 Mn
Mar 31, 2024 126.00 Mn
Dec 31, 2023 3.95 Bn
Dec 31, 2023 3.95 Bn