Las Vegas Sands (LVS) Cost of Revenue (2009 - 2026)
Las Vegas Sands (LVS) posted Cost of Revenue of $1.3 billion for Q2 2026, down 10.37% on a QoQ basis from $1.5 billion in Q1 2026, and up 8.62% year-over-year from $1.2 billion in Q2 2025.
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Analysis
Las Vegas Sands (LVS) Cost of Revenue (2009 - 2026) Analysis & Trends
Las Vegas Sands has reported Cost of Revenue for 18 years, with the latest figure at $1.3 billion in Q2 2026.
- On a quarterly basis, Cost of Revenue rose 8.62% year-over-year to $1.3 billion in Q2 2026; TTM through Jun 2026 was $5.7 billion, a 22.05% increase from a year earlier, with the FY2025 full-year figure at $5.3 billion, up 14.25% from the prior year.
- Cost of Revenue was $1.3 billion for Q2 2026 at Las Vegas Sands, down from $1.5 billion in the prior quarter.
- The five-year high for Cost of Revenue was $1.5 billion in Q4 2025, with the low at $410.0 million in Q3 2022.
- Average Cost of Revenue over 5 years is $1.0 billion, with a median of $1.1 billion recorded in 2023.
- The sharpest annual moves came in 2022 and 2023: Cost of Revenue slipped 22.47% in 2022, then soared 169.02% in 2023.
- Over 5 years, Cost of Revenue stood at $469.0 million in 2022, then surged by 143.28% to $1.1 billion in 2023, then rose by 2.54% to $1.2 billion in 2024, then gained by 29.57% to $1.5 billion in 2025, then declined by 11.02% to $1.3 billion in 2026.
- The last three Cost of Revenue figures came in at $1.3 billion (Q2 2026), $1.5 billion (Q1 2026), and $1.5 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 25.40 Bn | 22.34 Bn | 1.81 Bn | 1.35 Bn |
| 2 | DraftKings | 18.89 Bn | 17.90 Bn | 551.45 Mn | 891.78 Mn |
| 3 | Flutter Entertainment | 14.91 Bn | 13.72 Bn | 1.71 Bn | 2.61 Bn |
| 4 | MGM Resorts International | 9.52 Bn | 7.83 Bn | 3.10 Bn | 1.35 Bn |
| 5 | Madison Square Garden Sports | 9.51 Bn | 9.35 Bn | 119.21 Mn | 159.53 Mn |
| 6 | Life Time Group Holdings | 8.86 Bn | 8.63 Bn | 412.26 Mn | 453.73 Mn |
| 7 | Wynn Resorts | 8.42 Bn | 6.11 Bn | 1.14 Bn | 721.38 Mn |
| 8 | Super Group (SGHC) | 6.08 Bn | 5.53 Bn | - | - |
| 9 | Caesars Entertainment | 6.03 Bn | 5.15 Bn | 2.04 Bn | 955.00 Mn |
| 10 | Churchill Downs | 5.61 Bn | 5.46 Bn | 712.00 Mn | 268.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.35 Bn |
| Mar 31, 2026 | 1.51 Bn |
| Dec 31, 2025 | 1.52 Bn |
| Sep 30, 2025 | 1.35 Bn |
| Jun 30, 2025 | 1.24 Bn |
| Mar 31, 2025 | 1.16 Bn |
| Dec 31, 2024 | 1.17 Bn |
| Sep 30, 2024 | 1.12 Bn |
| Jun 30, 2024 | 1.14 Bn |
| Mar 31, 2024 | 1.18 Bn |
| Dec 31, 2023 | 1.14 Bn |
| Sep 30, 2023 | 1.10 Bn |
| Jun 30, 2023 | 1.03 Bn |
| Mar 31, 2023 | 874.00 Mn |
| Dec 31, 2022 | 469.00 Mn |
| Sep 30, 2022 | 410.00 Mn |
| Jun 30, 2022 | 445.00 Mn |
| Mar 31, 2022 | 468.00 Mn |
| Dec 31, 2021 | 465.00 Mn |
| Sep 30, 2021 | 451.00 Mn |
API Access
Las Vegas Sands Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=LVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "LVS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=LVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();