Las Vegas Sands (LVS) EBITDA Margin (2009 - 2026)
Las Vegas Sands (LVS) recorded EBITDA Margin of 30.91% in Q3 2026, down 2.81 percentage points from 33.71% a year earlier and down 0.96 percentage points from the prior quarter.
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Analysis
Las Vegas Sands (LVS) EBITDA Margin (2009 - 2026) Analysis & Trends
On a TTM basis, Las Vegas Sands' EBITDA Margin came in at 32.35% as of Sep 30, 2026, down 2.52 percentage points year-over-year; for FY2025, it was 33.92%, up 0.05 percentage points from FY2024.
- Annual EBITDA Margin has a five-year change of +44.06 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at 33.87% in FY2024 (-1.22 pp), 35.09% in FY2023 (+26.43 pp), 8.66% in FY2022 (-2.20 pp) and 10.86% in FY2021 (+21.00 pp).
- Quarterly EBITDA Margin has ranged from -1.06% in Q1 2022 to 37.45% in Q2 2025 over the past five years.
- On a year-over-year basis, EBITDA Margin rose in three of the last eight quarters, with an average year-over-year change of -1.19 percentage points.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 33.18 percentage points in Q1 2023, against a drop of 16.53 percentage points in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 31.86% (Q2 2026), 36.18% (Q1 2026) and 30.28% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 25.66 Bn | 12.26 Bn | 1.47 Bn | 30.91% |
| 2 | Flutter Entertainment | 14.04 Bn | 7.43 Bn | 1.52 Bn | -20.29% |
| 3 | Life Time Group Holdings | 10.41 Bn | 9.58 Bn | 419.01 Mn | 27.30% |
| 4 | DraftKings | 9.31 Bn | 4.97 Bn | 551.45 Mn | 0.84% |
| 5 | Wynn Resorts | 8.77 Bn | 2.90 Bn | 655.12 Mn | 21.08% |
| 6 | MGM Resorts International | 8.21 Bn | -1.09 Bn | 1.73 Bn | 9.53% |
| 7 | Madison Square Garden Sports | 7.49 Bn | 7.09 Bn | 119.21 Mn | 11.82% |
| 8 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 42.11% |
| 9 | Churchill Downs | 6.90 Bn | 6.13 Bn | 207.00 Mn | 29.31% |
| 10 | Caesars Entertainment | 5.95 Bn | 2.37 Bn | 1.44 Bn | 27.99% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 30.91% |
| Jun 30, 2026 | 31.86% |
| Mar 31, 2026 | 36.18% |
| Dec 31, 2025 | 30.28% |
| Sep 30, 2025 | 33.71% |
| Jun 30, 2025 | 37.45% |
| Mar 31, 2025 | 34.91% |
| Dec 31, 2024 | 33.36% |
| Sep 30, 2024 | 31.95% |
| Jun 30, 2024 | 33.90% |
| Mar 31, 2024 | 36.09% |
| Dec 31, 2023 | 36.81% |
| Sep 30, 2023 | 36.89% |
| Jun 30, 2023 | 33.63% |
| Mar 31, 2023 | 32.12% |
| Dec 31, 2022 | 10.47% |
| Sep 30, 2022 | 11.14% |
| Jun 30, 2022 | 13.11% |
| Mar 31, 2022 | -1.06% |
| Dec 31, 2021 | 15.48% |
API Access
Las Vegas Sands EBITDA Margin 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=ebitda-margin&ticker=LVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=LVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();