Las Vegas Sands (LVS) Net Margin (2009 - 2026)
Las Vegas Sands' (LVS) quarterly Net Margin came in at 17.88% in Q1 2026, up 362.0% year-on-year from 3.87% in Q1 2025, and up 45.63% quarter-over-quarter from 12.28% in Q4 2025.
Las Vegas Sands (LVS) Net Margin (2009 - 2026) Analysis & Trends
Las Vegas Sands' Net Margin history runs 17 years deep, the most recent figure standing at 17.88% for Q1 2026.
- On a quarterly basis, Net Margin rose 362.0% year-over-year to 17.88% in Q1 2026; TTM through Mar 2026 was 15.28%, a 120.0% increase from a year earlier, with the FY2025 full-year figure at 14.34%, changed N/A from the prior year.
- Net Margin improved to 17.88% in Q1 2026 per LVS's latest filing, from 12.28% in the prior quarter.
- Across five years, Net Margin topped out at 308.27% in Q1 2022 and bottomed at 0.45% in Q4 2022.
- The 4-year median for Net Margin is 14.26% (2025), against an average of 34.21%.
- Biggest YoY gain for Net Margin was 31346 bps in 2022; the steepest drop was 1215 bps in 2022.
- Year by year, Net Margin stood at 0.45% in 2022, then jumped by 3124 bps to 13.54% in 2024, then retreated by 9 bps to 12.28% in 2025, then jumped by 46 bps to 17.88% in 2026.
- Per Business Quant, the three latest LVS Net Margin figures stand at 17.88% (Q1 2026), 12.28% (Q4 2025), and 14.74% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 30.75 Bn | 27.42 Bn | 3.49 Bn | 17.88% |
| 2 | MGM Resorts International | 11.68 Bn | 9.38 Bn | 4.32 Bn | 3.92% |
| 3 | Wynn Resorts | 9.99 Bn | 9.89 Bn | 1.75 Bn | 8.11% |
| 4 | Boyd Gaming | 6.73 Bn | 6.36 Bn | 984.15 Mn | 10.46% |
| 5 | Melco Resorts & Entertainment | 6.48 Bn | 5.85 Bn | - | 129.40% |
| 6 | Caesars Entertainment | 6.11 Bn | 5.15 Bn | 2.78 Bn | -2.89% |
| 7 | Vail Resorts | 5.23 Bn | 5.21 Bn | - | 28.23% |
| 8 | Hilton Grand Vacations | 4.01 Bn | 3.75 Bn | 1.23 Bn | 5.29% |
| 9 | Red Rock Resorts | 3.72 Bn | 3.12 Bn | 433.13 Mn | 16.31% |
| 10 | Studio City International Holdings | 3.53 Bn | 3.45 Bn | 155.38 Mn | 5.38% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 17.88% |
| Dec 31, 2025 | 12.28% |
| Sep 30, 2025 | 14.74% |
| Jun 30, 2025 | 16.35% |
| Mar 31, 2025 | 14.26% |
| Dec 31, 2024 | 13.54% |
| Sep 30, 2024 | 13.16% |
| Jun 30, 2024 | 15.36% |
| Mar 31, 2024 | 19.70% |
| Dec 31, 2022 | -0.45% |
| Sep 30, 2022 | -0.10% |
| Jun 30, 2022 | -0.29% |
| Mar 31, 2022 | 308.27% |
| Dec 31, 2021 | 11.71% |
| Sep 30, 2021 | 11.55% |
| Jun 30, 2021 | 3.24% |
| Mar 31, 2021 | -5.18% |
| Dec 31, 2020 | -7.19% |
| Sep 30, 2020 | -15.02% |
| Jun 30, 2020 | -232.26% |