Las Vegas Sands (LVS) Operating Expenses (2016 - 2025)

Las Vegas Sands has reported Operating Expenses over the past 17 years, most recently at $2.9 billion for Q4 2025.

Quarterly results put Operating Expenses at $2.9 billion for Q4 2025, up 27.58% from a year ago — trailing twelve months through Dec 2025 was $10.2 billion (up 14.65% YoY), and the annual figure for FY2025 was $10.2 billion, up 14.65%.
Operating Expenses for Q4 2025 was $2.9 billion at Las Vegas Sands, up from $2.6 billion in the prior quarter.
Over the last five years, Operating Expenses for LVS hit a ceiling of $2.9 billion in Q4 2025 and a floor of $1.1 billion in Q4 2021.
Median Operating Expenses over the past 5 years was $2.1 billion (2023), compared with a mean of $1.8 billion.
Biggest five-year swings in Operating Expenses: dropped 9.15% in 2022 and later skyrocketed 78.26% in 2023.
Las Vegas Sands' Operating Expenses stood at $1.1 billion in 2021, then rose by 11.95% to $1.3 billion in 2022, then soared by 71.86% to $2.2 billion in 2023, then increased by 4.58% to $2.3 billion in 2024, then rose by 27.58% to $2.9 billion in 2025.
The last three reported values for Operating Expenses were $2.9 billion (Q4 2025), $2.6 billion (Q3 2025), and $2.4 billion (Q2 2025) per Business Quant data.

Peer Comparison