Las Vegas Sands (LVS) Return on Capital Employed [ROCE] (2009 - 2026)
Las Vegas Sands (LVS) recorded Return on Capital Employed [ROCE] of 18.93% in Q3 2026, up 3.04 percentage points from 15.88% a year earlier and up 0.76 percentage points from the prior quarter.
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Analysis
Las Vegas Sands (LVS) Return on Capital Employed [ROCE] (2009 - 2026) Analysis & Trends
For FY2025, Las Vegas Sands reported Return on Capital Employed [ROCE] of 16.51%, up 0.93 percentage points from FY2024.
- Annual Return on Capital Employed [ROCE] has increased for three straight years, with a five-year change of +23.77 percentage points (FY2020 to FY2025).
- Across earlier years, Return on Capital Employed [ROCE] came in at 15.58% in FY2024 (+2.35 pp), 13.23% in FY2023 (+17.85 pp), -4.62% in FY2022 (-0.76 pp) and -3.86% in FY2021 (+3.40 pp).
- The Q3 2026 figure is the highest quarterly Return on Capital Employed [ROCE] since Q4 2018.
- On a year-over-year basis, Return on Capital Employed [ROCE] has increased for five consecutive quarters, with an average year-over-year change of +1.49 percentage points over the last eight quarters.
- Peak year-over-year performance for Return on Capital Employed [ROCE] in the last five years was a gain of 17.63 percentage points in Q4 2023, against a drop of 1.42 percentage points in Q2 2025 at the low end.
- Per Business Quant, the preceding three quarters came in at 18.16% (Q2 2026), 18.40% (Q1 2026) and 16.11% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Wynn Resorts | 44.86 Bn | 38.23 Bn | 655.12 Mn | 9.86% |
| 2 | Vail Resorts | 28.33 Bn | 27.04 Bn | - | 9.33% |
| 3 | Las Vegas Sands | 25.59 Bn | 12.41 Bn | 1.47 Bn | 18.93% |
| 4 | DraftKings | 17.25 Bn | 13.04 Bn | 429.05 Mn | -15.96% |
| 5 | Flutter Entertainment | 14.34 Bn | 7.97 Bn | 1.52 Bn | -4.45% |
| 6 | Life Time Group Holdings | 10.65 Bn | 9.82 Bn | 419.01 Mn | 7.34% |
| 7 | MGM Resorts International | 8.32 Bn | -116.89 Mn | 1.73 Bn | 3.44% |
| 8 | MSG Knickerbockers | 7.63 Bn | 7.24 Bn | 36.67 Mn | 3.51% |
| 9 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 12.02% |
| 10 | Churchill Downs | 6.99 Bn | 6.25 Bn | 207.00 Mn | 12.42% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 18.93% |
| Jun 30, 2026 | 18.16% |
| Mar 31, 2026 | 18.40% |
| Dec 31, 2025 | 16.11% |
| Sep 30, 2025 | 15.88% |
| Jun 30, 2025 | 13.77% |
| Mar 31, 2025 | 15.60% |
| Dec 31, 2024 | 15.79% |
| Sep 30, 2024 | 15.88% |
| Jun 30, 2024 | 15.19% |
| Mar 31, 2024 | 15.38% |
| Dec 31, 2023 | 13.20% |
| Sep 30, 2023 | 7.94% |
| Jun 30, 2023 | 2.83% |
| Mar 31, 2023 | -0.61% |
| Dec 31, 2022 | -4.44% |
| Sep 30, 2022 | -4.16% |
| Jun 30, 2022 | -4.49% |
| Mar 31, 2022 | -4.71% |
| Dec 31, 2021 | -3.96% |
API Access
Las Vegas Sands Return on Capital Employed [ROCE] 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=return-on-capital-employed-%5Broce%5D&ticker=LVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-capital-employed-[roce]", "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=return-on-capital-employed-%5Broce%5D&ticker=LVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();