Las Vegas Sands (LVS) Operating Expenses (2009 - 2026)

Las Vegas Sands' Operating Expenses history runs 18 years deep, the most recent figure standing at $2.7 billion for Q1 2026.

• In Q1 2026, Operating Expenses rose 19.0% year-over-year to $2.7 billion; the TTM figure through Mar 2026 stood at $10.6 billion (up 19.31% YoY), while the FY2025 annual figure was $10.2 billion, up 14.65% from the prior year.
• Operating Expenses was $2.7 billion for Q1 2026 at Las Vegas Sands, down from $2.9 billion in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $2.9 billion in Q4 2025 to a low of $1.2 billion in Q3 2022.
• Historically, Operating Expenses has averaged $2.0 billion across 5 years, with a median of $2.2 billion in 2024.
• The sharpest annual moves came in 2022 and 2023: Operating Expenses declined 9.15% in 2022, then surged 78.26% in 2023.
• A 5-year view of Operating Expenses shows it stood at $1.3 billion in 2022, then surged by 71.86% to $2.2 billion in 2023, then gained by 4.58% to $2.3 billion in 2024, then increased by 27.58% to $2.9 billion in 2025, then fell by 8.87% to $2.7 billion in 2026.
• The last three Operating Expenses figures came in at $2.7 billion (Q1 2026), $2.9 billion (Q4 2025), and $2.6 billion (Q3 2025), per Business Quant data.