Las Vegas Sands (LVS) Research & Development (2009 - 2026)
Las Vegas Sands' Research & Development was $37 million in Q3 2026, down 48.6% from $72 million a year earlier and down 14.0% from the prior quarter.
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Analysis
Las Vegas Sands (LVS) Research & Development (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Las Vegas Sands' Research & Development was $180 million through Sep 30, 2026, down 33.1% year-over-year; for FY2025, it was $269 million, up 18.0% from FY2024.
- Research & Development has now increased for five consecutive years, with a five-year compound annual growth rate of 71.7% (FY2020 to FY2025).
- In earlier years, Research & Development was $228 million in FY2024 (+11.2%), $205 million in FY2023 (+43.4%), $143 million in FY2022 (+31.2%) and $109 million in FY2021 (+505.6%).
- The Q3 2026 figure marks the lowest quarterly Research & Development since Q4 2022.
- Compared with a year earlier, Research & Development has declined for three straight quarters, with an average decline of 7.7% over the last eight quarters.
- The best year-over-year quarter for Research & Development over five years was Q1 2022 (growth of 566.7%); the worst was Q3 2026 (a decline of 48.6%).
- Per Business Quant data, LVS's Research & Development in the three quarters before Q3 2026 was $43 million (Q2 2026), $41 million (Q1 2026) and $59 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 25.66 Bn | 12.26 Bn | 1.47 Bn | 37.00 Mn |
| 2 | Flutter Entertainment | 14.04 Bn | 7.43 Bn | 1.52 Bn | 350.00 Mn |
| 3 | Life Time Group Holdings | 10.41 Bn | 9.58 Bn | 419.01 Mn | - |
| 4 | DraftKings | 9.31 Bn | 4.97 Bn | 551.45 Mn | 127.65 Mn |
| 5 | Wynn Resorts | 8.77 Bn | 2.90 Bn | 655.12 Mn | - |
| 6 | MGM Resorts International | 8.21 Bn | -1.09 Bn | 1.73 Bn | - |
| 7 | Madison Square Garden Sports | 7.49 Bn | 7.09 Bn | 119.21 Mn | - |
| 8 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 56.00 Mn |
| 9 | Churchill Downs | 6.90 Bn | 6.13 Bn | 207.00 Mn | - |
| 10 | Caesars Entertainment | 5.95 Bn | 2.37 Bn | 1.44 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 37.00 Mn |
| Jun 30, 2026 | 43.00 Mn |
| Mar 31, 2026 | 41.00 Mn |
| Dec 31, 2025 | 59.00 Mn |
| Sep 30, 2025 | 72.00 Mn |
| Jun 30, 2025 | 69.00 Mn |
| Mar 31, 2025 | 69.00 Mn |
| Dec 31, 2024 | 59.00 Mn |
| Sep 30, 2024 | 55.00 Mn |
| Jun 30, 2024 | 61.00 Mn |
| Mar 31, 2024 | 53.00 Mn |
| Dec 31, 2023 | 65.00 Mn |
| Sep 30, 2023 | 44.00 Mn |
| Jun 30, 2023 | 54.00 Mn |
| Mar 31, 2023 | 42.00 Mn |
| Dec 31, 2022 | 35.00 Mn |
| Sep 30, 2022 | 26.00 Mn |
| Jun 30, 2022 | 22.00 Mn |
| Mar 31, 2022 | 60.00 Mn |
| Dec 31, 2021 | 50.00 Mn |
API Access
Las Vegas Sands Research & Development 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=research-and-development&ticker=LVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=LVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();