Las Vegas Sands (LVS) Net Margin (2009 - 2026)
Las Vegas Sands (LVS) posted Net Margin of 11.83% for Q2 2026, down 33.86% on a QoQ basis from 17.88% in Q1 2026, and down 452.0% year-over-year from 3.36% in Q2 2025.
Analysis
Las Vegas Sands (LVS) Net Margin (2009 - 2026) Analysis & Trends
Las Vegas Sands has reported Net Margin for 18 years, with the latest figure at 11.83% in Q2 2026.
- On a quarterly basis, Net Margin fell 452.0% year-over-year to 11.83% in Q2 2026; TTM through Jun 2026 was 14.24%, a 16.0% decrease from a year earlier, with the FY2025 full-year figure at 14.34%, down 117.0% from the prior year.
- Net Margin was 11.83% for Q2 2026 at Las Vegas Sands, down from 17.88% in the prior quarter.
- The five-year high for Net Margin was 257.58% in Q1 2022, with the low at 39.9% in Q2 2022.
- Average Net Margin over 5 years is 19.88%, with a median of 14.37% recorded in 2025.
- The sharpest annual moves came in 2022 and 2023: Net Margin jumped 28618 bps in 2022, then slumped 25074 bps in 2023.
- Over 5 years, Net Margin stood at 24.53% in 2022, then soared by 166 bps to 16.09% in 2023, then retreated by 16 bps to 13.54% in 2024, then decreased by 9 bps to 12.28% in 2025, then fell by 4 bps to 11.83% in 2026.
- The last three Net Margin figures came in at 11.83% (Q2 2026), 17.88% (Q1 2026), and 12.28% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 27.90 Bn | 24.52 Bn | 1.81 Bn | 11.83% |
| 2 | MGM Resorts International | 10.33 Bn | 7.78 Bn | 3.10 Bn | 7.25% |
| 3 | Wynn Resorts | 9.08 Bn | 7.50 Bn | 1.14 Bn | 9.83% |
| 4 | Caesars Entertainment | 6.05 Bn | 4.99 Bn | 2.04 Bn | -1.37% |
| 5 | Churchill Downs | 5.79 Bn | 5.59 Bn | 712.00 Mn | 24.69% |
| 6 | Boyd Gaming | 5.71 Bn | 5.39 Bn | 766.76 Mn | 12.56% |
| 7 | Red Rock Resorts | 3.17 Bn | 2.56 Bn | 420.02 Mn | 15.01% |
| 8 | PENN Entertainment | 2.28 Bn | 1.39 Bn | 1.02 Bn | 1.76% |
| 9 | Monarch Casino & Resort | 2.14 Bn | 2.00 Bn | 38.62 Mn | 22.81% |
| 10 | Melco Resorts & Entertainment | 1.99 Bn | 1.42 Bn | 1.05 Bn | 3.09% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 11.83% |
| 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, 2023 | 16.09% |
| Sep 30, 2023 | 16.06% |
| Jun 30, 2023 | 14.48% |
| Mar 31, 2023 | 6.84% |
| Dec 31, 2022 | -24.53% |
| Sep 30, 2022 | -37.91% |
| Jun 30, 2022 | -39.90% |
| Mar 31, 2022 | 257.58% |
| Dec 31, 2021 | -19.54% |
| Sep 30, 2021 | -57.76% |