Las Vegas Sands (LVS) Return on Invested Capital [ROIC] (2010 - 2026)
Las Vegas Sands' Return on Invested Capital [ROIC] came in at 14.68% for Q2 2026, up 2.46 percentage points from 12.22% a year earlier but down 0.29 percentage points from the prior quarter.
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Analysis
Las Vegas Sands (LVS) Return on Invested Capital [ROIC] (2010 - 2026) Analysis & Trends
For FY2025, Las Vegas Sands' Return on Invested Capital [ROIC] was 13.72%, up 1.47 percentage points from FY2024.
- Return on Invested Capital [ROIC] has increased in each of the last three years, with a five-year change of +21.35 percentage points (FY2020 to FY2025).
- Going back by year, Return on Invested Capital [ROIC] was 12.25% in FY2024 (+2.38 pp), 9.87% in FY2023 (+14.19 pp), -4.32% in FY2022 (-0.35 pp) and -3.97% in FY2021 (+3.65 pp).
- The five-year range for quarterly Return on Invested Capital [ROIC] is -4.83% (Q1 2022) to 14.97% (Q1 2026).
- Year-over-year, Return on Invested Capital [ROIC] has increased for four consecutive quarters, with an average year-over-year change of +1.81 percentage points over the last eight quarters.
- The fastest year-over-year change in Return on Invested Capital [ROIC] over five years came in Q4 2023 (a gain of 14.18 percentage points), and the weakest in Q3 2021 (a drop of 2.02 percentage points).
- Business Quant data shows LVS's Return on Invested Capital [ROIC] at 14.97% (Q1 2026), 13.44% (Q4 2025) and 12.89% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 22.37 Bn | 9.19 Bn | 1.47 Bn | 14.92% |
| 2 | DraftKings | 18.59 Bn | 14.25 Bn | 551.45 Mn | -15.70% |
| 3 | Flutter Entertainment | 13.90 Bn | 7.65 Bn | 1.71 Bn | -3.04% |
| 4 | Madison Square Garden Sports | 9.36 Bn | 8.96 Bn | 119.21 Mn | - |
| 5 | Life Time Group Holdings | 9.36 Bn | 8.59 Bn | 412.26 Mn | 8.48% |
| 6 | Wynn Resorts | 7.52 Bn | 1.07 Bn | 758.95 Mn | 10.11% |
| 7 | Light & Wonder | 7.12 Bn | 6.43 Bn | 618.00 Mn | 9.49% |
| 8 | MGM Resorts International | 7.05 Bn | -1.13 Bn | 1.98 Bn | 10.62% |
| 9 | Caesars Entertainment | 5.87 Bn | 2.49 Bn | 1.50 Bn | 11.14% |
| 10 | Churchill Downs | 5.84 Bn | 5.11 Bn | 419.00 Mn | 8.44% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 14.92% |
| Jun 30, 2026 | 14.68% |
| Mar 31, 2026 | 14.97% |
| Dec 31, 2025 | 13.44% |
| Sep 30, 2025 | 12.89% |
| Jun 30, 2025 | 12.22% |
| Mar 31, 2025 | 11.69% |
| Dec 31, 2024 | 12.42% |
| Sep 30, 2024 | 12.50% |
| Jun 30, 2024 | 12.95% |
| Mar 31, 2024 | 12.59% |
| Dec 31, 2023 | 10.09% |
| Sep 30, 2023 | 5.86% |
| Jun 30, 2023 | 0.00% |
| Mar 31, 2023 | -0.57% |
| Dec 31, 2022 | -4.09% |
| Sep 30, 2022 | -3.95% |
| Jun 30, 2022 | -4.60% |
| Mar 31, 2022 | -4.83% |
| Dec 31, 2021 | -4.04% |
API Access
Las Vegas Sands Return on Invested Capital [ROIC] 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-invested-capital-%5Broic%5D&ticker=LVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "return-on-invested-capital-[roic]", "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-invested-capital-%5Broic%5D&ticker=LVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();