Filing Flows

Filing Flows › Consumer Discretionary › Las Vegas Sands (LVS)

Las Vegas Sands (LVS) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 23, 2026 · Las Vegas Sands (LVS) Q3 2026 earnings results →

Q3 2026 Revenue down 4% year over year to $3.2B · 9¢ of every $1 of revenue kept as net profit · operating margin 19.2%

Las Vegas Sands made $3.2B in Q3 2026 (-4% Y/Y): Casino $2.4B, Rooms $376M, Mall $202M. Operating margin 19.2%, net earnings $304M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 23, 2026.

Revenue$3.2B
Year over year-4%
Operating margin19.2%
Net earnings$304M
Operating cash flow$870M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

Las Vegas Sands Q3 2026 revenue breakdown: Sankey diagram of revenue (Casino, Rooms, Mall, Food and Beverage), costs, profit and cash flow
Las Vegas Sands Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
Embed this chart on your site

Free to use with the credit line. Click a box to select the code.

What changed this quarter

Revenue was $3.2B in Q3 2026, down 3% year over year and up 2% from the previous quarter. Casino was the largest line at 74% of revenue. Casino lost $0.14B year over year (down 5%), 118% of the total change.

Operating profit was $0.62B, a 19.2% margin (down 2.4 points year over year). Total costs fell 1% while revenue fell 3%. Net earnings were $0.30B, down 27% year over year. The effective tax rate was 22.5%.

Operating cash flow was $0.87B (down 22% year over year), 247% of net income including minority interests. Non-cash charges added back $0.34B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.16B. Capital expenditures of $0.28B left free cash flow of $0.59B.

Quarterly history

Las Vegas Sands revenue by quarterLas Vegas Sands revenue by quarter$2.9BQ1 2025$3.2BQ2 2025$3.3BQ3 2025$3.6BQ4 2025$3.6BQ1 2026$3.2BQ2 2026$3.2BQ3 2026
Las Vegas Sands net earnings by quarterLas Vegas Sands net earnings by quarter$352MQ1 2025$461MQ2 2025$419MQ3 2025$395MQ4 2025$567MQ1 2026$346MQ2 2026$304MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 23, 2026$3.2B-4%19.2%$304M$870M
Q2 202610-QJul 24, 2026$3.2B-0.7%19.6%$346M$682M
Q1 202610-QApr 24, 2026$3.6B+25%25.2%$567M$731M
Q4 202510-KFeb 6, 2026$3.6B+26%19.4%$395M$1.2B
Q3 202510-QOct 24, 2025$3.3B+24%21.6%$419M$1.1B
Q2 202510-QJul 25, 2025$3.2B+15%24.7%$461M$178M
Q1 202510-QApr 25, 2025$2.9B-3%21.3%$352M$526M

Charts

Las Vegas Sands: revenue growth, year over year and quarter over quarterLas Vegas Sands: revenue growth, year over year and quarter over quarterY/YQ/Q-3%Q1 2025+15%+11%Q2 2025+24%+5%Q3 2025+26%+10%Q4 2025+25%-2%Q1 2026-1%-12%Q2 2026-4%+2%Q3 2026
Latest (Q3 2026): Y/Y -4%, Q/Q +2%.
Las Vegas Sands: where the cash came from (+) and went (−), TTM to Q3 2026Las Vegas Sands: where the cash came from (+) and went (−), TTM to Q3 2026Operating cash flow$3.5BBuybacks−$3.0BOther investing$1.3BCapital spending−$1.1BDividends−$892MCash drawn (+) / kept (−)$495MNet borrowing (+) / repaid (−)−$402MShares issued$268MOther financing−$168MExchange rates−$10.0MTaxes on employees’ shares−$7.0MAsset & business sales$6.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Las Vegas Sands: profit against cash, quarter by quarterLas Vegas Sands: profit against cash, quarter by quarterNet incomeOperating cash flow$392M$915MQ4 2024$408M$526MQ1 2025$519M$178MQ2 2025$491M$1.1BQ3 2025$448M$1.2BQ4 2025$641M$731MQ1 2026$373M$682MQ2 2026$352M$870MQ3 2026
Latest (Q3 2026): Net income $352M, Operating cash flow $870M.
Las Vegas Sands: diluted shares by fiscal yearLas Vegas Sands: diluted shares by fiscal year764MFY2020764MFY2021764MFY2022765MFY2023737MFY2024693MFY2025
-9.3% since FY2020: buybacks shrank the count.
Las Vegas Sands: long-term debt falling due (FY2025)Las Vegas Sands: long-term debt falling due (FY2025)$1.9B2026$1.6B2027$3.0B2028$2.0B2029$2.7B2030$4.6BLater
Cash $3.8B, short-term investments —, long-term debt $15.8B at 2025-12-31.
Las Vegas Sands in its industry: growth against margin (22 companies, SIC 7011)Las Vegas Sands in its industry: growth against margin (22 companies, SIC 7011)revenue growth, year over year →↑ operating marginmedian +2%median 11%MARMGMHLTCZRPENNHWYNNTNLBYDBALYPKRRRCHHWHXHRSHOCNTYMCRIFLLBally's Chicago, Inc.HIGRLVS (-4%, 19%)
Hotels & Motels; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

Loading the interactive chart…

🌏Named in Asian annual reportsinteractive

Loading the interactive chart…

🔄Rotation against the market and its industry (RRG)interactive

Loading the interactive chart…

🔍Earnings qualityinteractive

Loading the interactive chart…

⚖️Fair value by methodinteractive

Loading the interactive chart…

🔭Outlook & guidanceinteractive

Loading the interactive chart…

📈Investments: gains and what it boughtinteractive

Loading the interactive chart…

🏭Its industry’s money flow (input-output)interactive

Loading the interactive chart…

About Las Vegas Sands

Las Vegas Sands Corp. (“LVSC,” or together with its subsidiaries “we” or the “Company”) is a Fortune 500 company and the leading global developer and operator of destination properties (“Integrated Resorts”) that feature premium accommodations, world-class gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants and other amenities. We currently own and operate Integrated Resorts in Macao and Singapore. We believe our geographic diversity, best-in-class properties and meeting and convention facilities provide us with the best platform in the hospitality and gaming industry to attract leisure and business tourism to our markets and continue generating growth and cash flow while simultaneously pursuing new development opportunities.

In its own words, from its 10-K, filed Feb 6, 2026.

Las Vegas Sands against its Hotels & Motels peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median +2%. Operating margin: 19.2% against the peers' median 15.5%.

CompanyQuarterRevenueY/YOp. margin
LVS Las Vegas SandsQ3 2026$3.2B-4%19.2%
MAR Marriott InternationalQ3 2026$7.0B+8%18.2%
MGM MGM Resorts InternationalQ3 2026$4.2B-0.9%2.8%
HLT Hilton Worldwide HoldingsQ3 2026$3.3B+7%27.3%
CZR Caesars EntertainmentQ3 2026$2.9B+2%15.5%
PENN Penn EntertainmentQ3 2026$1.8B+7%6.9%
H Hyatt HotelsQ3 2026$1.7B-2%4.5%
WYNN Wynn ResortsQ3 2026$1.7B-8%10.6%
TNL Travel & LeisureQ3 2026$1.1B+6%17.7%

Source: Las Vegas Sands 10-Q on SEC EDGAR · CIK 1300514 · Hotels & Motels

13F: who owns LVS and who is buying

Largest holders of LVS (13F)Largest holders of LVS (13F)Vanguard Group$2.6BBlackRock$1.1BVanguard Capital Management LLC$898MVanguard Portfolio Management LLC$861MState Street$700MPrice T Rowe Associates$517MD. E. Shaw$418MInvesco$409MGeode Capital Management, LLC$378MArrowstreet Capital, Limited Part…$341M
Funds' net buying of LVS by quarter (13F)Funds' net buying of LVS by quarter (13F)$705M2024-09$132M2024-12−$1.1B2025-03$5.9M2025-06−$1.5B2025-09−$262M2025-12−$170M2026-03−$77.6M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on LVS

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

Compare LVS with

中文版：金沙集团（LVS）财报

Español · Français