Las Vegas Sands (LVS) Net Margin (2009 - 2026)
Las Vegas Sands (LVS) reported Net Margin of 9.45% for Q3 2026, down 3.13 percentage points from 12.58% a year earlier and down 1.52 percentage points from the prior quarter.
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Analysis
Las Vegas Sands (LVS) Net Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Las Vegas Sands' Net Margin came in at 11.85%, down 0.84 percentage points year-over-year; for FY2025, it was 12.50%, down 0.30 percentage points from FY2024.
- Net Margin has a five-year change of +69.81 percentage points (FY2020 to FY2025).
- By year, Net Margin came in at 12.80% in FY2024 (+1.03 pp), 11.77% in FY2023 (-32.80 pp), 44.57% in FY2022 (+67.27 pp) and -22.70% in FY2021 (+34.62 pp).
- The Q3 2026 figure ranks as the lowest quarterly Net Margin since Q1 2023.
- Year over year, Net Margin gained in three of the last eight quarters, with an average year-over-year change of -0.72 percentage points.
- The high point for year-over-year Net Margin in five years was Q1 2022 (a gain of 291.54 percentage points); the low point was Q1 2023 (a drop of 261.36 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 10.97% (Q2 2026), 15.82% (Q1 2026) and 10.82% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 25.66 Bn | 12.26 Bn | 1.47 Bn | 9.45% |
| 2 | Flutter Entertainment | 14.04 Bn | 7.43 Bn | 1.52 Bn | -22.25% |
| 3 | Life Time Group Holdings | 10.41 Bn | 9.58 Bn | 419.01 Mn | 11.92% |
| 4 | DraftKings | 9.31 Bn | 4.97 Bn | 551.45 Mn | -4.68% |
| 5 | Wynn Resorts | 8.77 Bn | 2.90 Bn | 655.12 Mn | 1.03% |
| 6 | MGM Resorts International | 8.21 Bn | -1.09 Bn | 1.73 Bn | -0.41% |
| 7 | Madison Square Garden Sports | 7.49 Bn | 7.09 Bn | 119.21 Mn | 10.15% |
| 8 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 16.14% |
| 9 | Churchill Downs | 6.90 Bn | 6.13 Bn | 207.00 Mn | 11.49% |
| 10 | Caesars Entertainment | 5.95 Bn | 2.37 Bn | 1.44 Bn | -4.18% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 9.45% |
| Jun 30, 2026 | 10.97% |
| Mar 31, 2026 | 15.82% |
| Dec 31, 2025 | 10.82% |
| Sep 30, 2025 | 12.58% |
| Jun 30, 2025 | 14.52% |
| Mar 31, 2025 | 12.30% |
| Dec 31, 2024 | 11.19% |
| Sep 30, 2024 | 10.25% |
| Jun 30, 2024 | 12.79% |
| Mar 31, 2024 | 16.69% |
| Dec 31, 2023 | 13.10% |
| Sep 30, 2023 | 13.60% |
| Jun 30, 2023 | 12.27% |
| Mar 31, 2023 | 6.93% |
| Dec 31, 2022 | -15.13% |
| Sep 30, 2022 | -23.78% |
| Jun 30, 2022 | -27.75% |
| Mar 31, 2022 | 268.29% |
| Dec 31, 2021 | -12.20% |
API Access
Las Vegas Sands Net 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=net-margin&ticker=LVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=LVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();