Las Vegas Sands (LVS) EBITDA Margin (2009 - 2026)
Las Vegas Sands (LVS) recorded EBITDA Margin of 31.36% in Q2 2026, down 5.62 percentage points from 36.98% a year earlier and down 4.40 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 32.58% as of Jun 30, 2026, down 1.48 percentage points year-over-year; for FY2025, it was 33.48%, up 0.11 percentage points from FY2024.
- Annual EBITDA Margin has a five-year change of +45.08 percentage points (FY2020 to FY2025).
- Across earlier years, EBITDA Margin came in at 33.37% in FY2024 (-1.14 pp), 34.51% in FY2023 (+27.23 pp), 7.27% in FY2022 (-2.36 pp) and 9.64% in FY2021 (+21.23 pp).
- Quarterly EBITDA Margin has ranged from -4.67% in Q3 2021 to 36.98% 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 -1.42 percentage points.
- Peak year-over-year performance for EBITDA Margin in the last five years was a gain of 53.85 percentage points in Q3 2021, against a drop of 17.01 percentage points in Q1 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 35.76% (Q1 2026), 29.87% (Q4 2025) and 33.26% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 24.94 Bn | 11.04 Bn | 1.48 Bn | 31.86% |
| 2 | Flutter Entertainment | 13.84 Bn | 7.21 Bn | 1.71 Bn | 5.89% |
| 3 | DraftKings | 10.19 Bn | 5.85 Bn | 551.45 Mn | 0.84% |
| 4 | Madison Square Garden Sports | 9.98 Bn | 9.58 Bn | 119.21 Mn | 11.82% |
| 5 | Life Time Group Holdings | 9.17 Bn | 8.40 Bn | 412.26 Mn | 27.02% |
| 6 | Wynn Resorts | 7.94 Bn | 2.23 Bn | 758.95 Mn | 25.52% |
| 7 | MGM Resorts International | 7.33 Bn | -1.70 Bn | 1.98 Bn | 17.80% |
| 8 | Light & Wonder | 7.12 Bn | 6.43 Bn | 618.00 Mn | 41.06% |
| 9 | Caesars Entertainment | 5.93 Bn | 2.38 Bn | 1.50 Bn | 29.00% |
| 10 | Churchill Downs | 5.80 Bn | 5.02 Bn | 419.00 Mn | 42.45% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| 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% |
| Sep 30, 2021 | -3.15% |
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();