Las Vegas Sands (LVS) Return on Invested Capital [ROIC] (2009 - 2026)
Las Vegas Sands' Return on Invested Capital [ROIC] came in at 14.92% for Q3 2026, up 2.04 percentage points from 12.89% a year earlier and up 0.24 percentage points from the prior quarter.
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Analysis
Las Vegas Sands (LVS) Return on Invested Capital [ROIC] (2009 - 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 five consecutive quarters, with an average year-over-year change of +1.24 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 Q1 2025 (a drop of 0.90 percentage points).
- Business Quant data shows LVS's Return on Invested Capital [ROIC] at 14.68% (Q2 2026), 14.97% (Q1 2026) and 13.44% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROIC (Qtr) |
|---|---|---|---|---|---|
| 1 | Wynn Resorts | 44.86 Bn | 38.23 Bn | 655.12 Mn | 9.51% |
| 2 | Vail Resorts | 28.33 Bn | 27.04 Bn | - | 8.24% |
| 3 | Las Vegas Sands | 25.59 Bn | 12.41 Bn | 1.47 Bn | 14.92% |
| 4 | DraftKings | 17.25 Bn | 13.04 Bn | 429.05 Mn | -31.36% |
| 5 | Flutter Entertainment | 14.34 Bn | 7.97 Bn | 1.52 Bn | -4.82% |
| 6 | Life Time Group Holdings | 10.65 Bn | 9.82 Bn | 419.01 Mn | 8.63% |
| 7 | MGM Resorts International | 8.32 Bn | -116.89 Mn | 1.73 Bn | 13.52% |
| 8 | MSG Knickerbockers | 7.63 Bn | 7.24 Bn | 36.67 Mn | - |
| 9 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 9.62% |
| 10 | Churchill Downs | 6.99 Bn | 6.25 Bn | 207.00 Mn | 9.02% |
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();