Question 1

What is Las Vegas Sands's EV/EBITDA ratio?

Accepted Answer

Las Vegas Sands (LVS) EV/EBITDA ratio is 9.6× as of June 5, 2026. The ratio is calculated by dividing enterprise value by trailing twelve-month EBITDA, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the EV/EBITDA ratio calculated?

Accepted Answer

EV/EBITDA = Enterprise Value ÷ Trailing Twelve-Month (TTM) EBITDA, where Enterprise Value = Market Capitalisation + Total Debt − Cash & Short-Term Investments. All inputs are sourced from audited GAAP/IFRS filings and translated to USD using period-end exchange rates so the multiple is comparable across companies and currencies.

Question 3

What is the EV/EBITDA ratio?

Accepted Answer

The EV/EBITDA ratio (the enterprise multiple) compares enterprise value (EV) to trailing twelve-month (TTM) EBITDA. EV is calculated as market capitalisation + total debt − cash & short-term investments. Because EV/EBITDA is capital-structure-neutral and ignores non-cash depreciation and amortisation, it is the standard multiple used in M&A and for cross-company or cross-border comparisons. Note: this calculation uses a simplified EV (minority interest and preferred equity excluded due to data availability), consistent with most public financial-data providers.

Question 4

What is a good EV/EBITDA ratio for Las Vegas Sands?

Accepted Answer

Mature, cash-generative businesses commonly trade in the 8–12× EV/EBITDA range; higher-growth, asset-light companies often trade at 15–25×+. EV/EBITDA is most useful for comparing companies with different capital structures (debt levels) or tax regimes. For Las Vegas Sands specifically, the relevant sector benchmark is the current sector median of 14.3×.

Question 5

Is Las Vegas Sands's EV/EBITDA ratio high or low?

Accepted Answer

Las Vegas Sands's EV/EBITDA ratio of 9.6× is below its own 5-year average of 162.0× and below the sector median of 14.3×. That places the current reading at the 7th percentile of its 10-year history. A higher multiple usually reflects stronger expected growth, lower perceived risk, or higher returns on capital; a lower multiple reflects the opposite.

Question 6

What is Las Vegas Sands's historical EV/EBITDA ratio range?

Accepted Answer

In the available daily series, Las Vegas Sands (LVS) EV/EBITDA ratio has ranged from a low of 8.1× in 2025 to a high of 1442.5× in 2022. The 5-year average is 162.0× and the 5-year median is 13.8×.

Question 7

What was Las Vegas Sands's EV/EBITDA ratio in 2025?

Accepted Answer

Las Vegas Sands (LVS) EV/EBITDA ratio at the end of 2025 was 12.5×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month EBITDA figure available at that date.

Question 8

Why does Las Vegas Sands's EV/EBITDA ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (enterprise value, which tracks share price plus net debt) and the denominator (EBITDA). Share-price changes — driven by interest rates, earnings expectations, risk appetite, and broader market sentiment — typically dominate short-term moves, while changes in the underlying fundamental drive the longer-term trend. As a result, the ratio can rise during stock-price rallies even if the business itself has not become more valuable, and fall during sell-offs even when fundamentals are improving.


2025	$43.94B	$4.50B	12.5×	+0.7×	Dec 31, 2025
2024	$37.75B	$4.05B	11.8×	-0.2×	Dec 31, 2024
2023	$37.35B	$3.86B	12.0×	-102.3×	Dec 31, 2023
2022	$36.73B	$406.00M	114.3×	-56.6×	Dec 31, 2022
2021	$28.76B	$244.00M	170.9×	—	Dec 31, 2021
2020	$44.90B	−$350.00M	—	—	Dec 31, 2020
2019	$52.98B	$5.54B	11.0×	+1.3×	Dec 31, 2019
2018	$40.60B	$4.92B	9.7×	-3.8×	Dec 31, 2018
2017	$54.90B	$4.59B	13.5×	-0.0×	Dec 31, 2017
2016	$42.47B	$3.68B	13.6×	+2.9×	Dec 31, 2016
2015	$34.85B	$3.92B	10.7×	+0.5×	Dec 31, 2015
2014	$46.61B	$5.18B	10.3×	-5.7×	Dec 31, 2014
2013	$64.86B	$4.46B	15.9×	+2.0×	Dec 31, 2013
2012	$37.95B	$3.28B	13.9×	+2.3×	Dec 31, 2012
2011	$31.18B	$3.22B	11.6×	-8.6×	Dec 31, 2011
2010	$30.37B	$1.86B	20.2×	-9.6×	Dec 31, 2010
2009	$9.86B	$535.28M	29.8×	+16.6×	Dec 31, 2009
2008	$2.11B	$726.95M	13.1×	-61.7×	Dec 31, 2008
2007	$36.57B	$578.10M	74.9×	+23.9×	Dec 31, 2007
2006	$31.70B	$694.07M	51.0×	+25.3×	Dec 31, 2006
2005	$13.98B	$589.25M	25.7×	+2.5×	Dec 31, 2005
2004	$15.63B	$694.79M	23.2×	—	Dec 31, 2004


Lennar (LEN)	12.5×
Packaging Corporation of America (PKG)	12.3×
Wynn Resorts (WYNN)	11.7×
General Motors (GM)	11.5×
Amcor (AMCR)	11.3×
Masco (MAS)	10.9×
NVR (NVR)	10.9×
Ball (BALL)	10.7×
D.R. Horton (DHI)	10.7×
Norwegian Cruise Line (NCLH)	9.9×
Carnival Corporation (CCL)	9.5×
Deckers Outdoor (DECK)	9.5×
LKQ (LKQ)	9.0×
Toll Brothers (TOL)	8.6×
PulteGroup (PHM)	8.1×
Expedia Group (EXPE)	8.0×
Etsy (ETSY)	8.0×
Leggett & Platt (LEG)	7.3×
Best Buy Co. (BBY)	6.8×
Weyco Group (WEYS)	6.6×
Sonoco Products (SON)	6.5×
Lululemon Athletica (LULU)	6.3×
Mohawk Industries (MHK)	4.9×
Smurfit Westrock (SW)	4.6×
PDD Holdings (PDD)	3.7×

EV/EBITDA for Las Vegas Sands (LVS)

EV/EBITDA daily chart for Las Vegas Sands (LVS)

Historical EV/EBITDA for Las Vegas Sands (LVS) from 2004 to 2025

About EV/EBITDA at Las Vegas Sands (LVS)

Las Vegas Sands EV/EBITDA by Year

Las Vegas Sands EV/EBITDA 2025: 12.5×

Las Vegas Sands EV/EBITDA 2024: 11.8×

Las Vegas Sands EV/EBITDA 2023: 12.0×

Las Vegas Sands EV/EBITDA 2022: 114.3×

Las Vegas Sands EV/EBITDA 2021: 170.9×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

Las Vegas Sands (LVS) Key Financials

EV/EBITDA daily chart for Las Vegas Sands (LVS)

Historical EV/EBITDA for Las Vegas Sands (LVS) from 2004 to 2025

About EV/EBITDA at Las Vegas Sands (LVS)

Las Vegas Sands EV/EBITDA by Year

Las Vegas Sands EV/EBITDA 2025: 12.5×

Las Vegas Sands EV/EBITDA 2024: 11.8×

Las Vegas Sands EV/EBITDA 2023: 12.0×

Las Vegas Sands EV/EBITDA 2022: 114.3×

Las Vegas Sands EV/EBITDA 2021: 170.9×

Sector peers by EV/EBITDA — chart

Sector peers by EV/EBITDA — table

Frequently asked questions

+What is Las Vegas Sands's EV/EBITDA ratio?

+How is the EV/EBITDA ratio calculated?

+What is the EV/EBITDA ratio?

+What is a good EV/EBITDA ratio for Las Vegas Sands?

+Is Las Vegas Sands's EV/EBITDA ratio high or low?

+What is Las Vegas Sands's historical EV/EBITDA ratio range?

+What was Las Vegas Sands's EV/EBITDA ratio in 2025?

+Why does Las Vegas Sands's EV/EBITDA ratio change over time?

Las Vegas Sands (LVS) Key Financials