Las Vegas Sands (LVS) Gross Margin (2009 - 2026)

Las Vegas Sands' Gross Margin history runs 18 years deep, the most recent figure standing at 99.3% for Q1 2026.

• In Q1 2026, Gross Margin rose 7.0% year-over-year to 99.3%; the TTM figure through Mar 2026 stood at 113.55% (up 3642.0% YoY), while the FY2025 annual figure was 95.68%, up 21.0% from the prior year.
• Gross Margin was 99.3% for Q1 2026 at Las Vegas Sands, down from 187.42% in the prior quarter.
• In the past five years, Gross Margin ranged from a high of 187.42% in Q4 2025 to a low of 37.6% in Q4 2023.
• Historically, Gross Margin has averaged 84.18% across 5 years, with a median of 96.08% in 2022.
• The sharpest annual moves came in 2023 and 2024: Gross Margin plunged 14816 bps in 2023, then soared 12800 bps in 2024.
• A 5-year view of Gross Margin shows it stood at 110.56% in 2022, then sank by 134 bps to 37.6% in 2023, then surged by 340 bps to 90.4% in 2024, then surged by 107 bps to 187.42% in 2025, then sank by 47 bps to 99.3% in 2026.
• The last three Gross Margin figures came in at 99.3% (Q1 2026), 187.42% (Q4 2025), and 98.17% (Q3 2025), per Business Quant data.