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

Las Vegas Sands (LVS) has 17 years of Operating Expenses data on record, last reported at $2.9 billion in Q4 2025.

For Q4 2025, Operating Expenses rose 27.58% year-over-year to $2.9 billion; the TTM value through Dec 2025 reached $10.2 billion, up 14.65%, while the annual FY2025 figure was $10.2 billion, 14.65% up from the prior year.
Operating Expenses reached $2.9 billion in Q4 2025 per LVS's latest filing, up from $2.6 billion in the prior quarter.
Across five years, Operating Expenses topped out at $2.9 billion in Q4 2025 and bottomed at $1.1 billion in Q4 2021.
Average Operating Expenses over 5 years is $1.8 billion, with a median of $2.1 billion recorded in 2023.
Peak YoY movement for Operating Expenses: decreased 9.15% in 2022, then surged 78.26% in 2023.
A 5-year view of Operating Expenses shows it stood at $1.1 billion in 2021, then increased by 11.95% to $1.3 billion in 2022, then surged by 71.86% to $2.2 billion in 2023, then grew by 4.58% to $2.3 billion in 2024, then increased by 27.58% to $2.9 billion in 2025.
Per Business Quant database, its latest 3 readings for Operating Expenses were $2.9 billion in Q4 2025, $2.6 billion in Q3 2025, and $2.4 billion in Q2 2025.

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