TTM
49.6%
YoY change
+0.92pp
Trough year (2020)
27.9%
Peak year (2004)
54.7%
Latest annual
49.8%
Gross Margin history chart for Las Vegas Sands (LVS) from 2004 to 2025
Latest: 49.8%
Gross Margin change chart for Las Vegas Sands (LVS) from 2004 to 2025
Latest: +0.92pp
Gross Margin history table for Las Vegas Sands (LVS) from 2004 to 2025
| 2025 | 49.8% | +0.92pp | ||
| 2024 | 48.9% | -0.95pp | ||
| 2023 | 49.8% | +9.67pp | ||
| 2022 | 40.1% | +2.17pp | ||
| 2021 | 38.0% | +10.05pp | ||
| 2020 | 27.9% | -21.78pp | ||
| 2019 | 49.7% | +0.50pp | ||
| 2018 | 49.2% | -1.07pp | ||
| 2017 | 50.3% | +0.72pp | ||
| 2016 | 49.6% | +1.89pp | ||
| 2015 | 47.7% | +0.78pp | ||
| 2014 | 46.9% | +1.47pp | ||
| 2013 | 45.4% | -0.06pp | ||
| 2012 | 45.5% | -2.22pp | ||
| 2011 | 47.7% | +4.24pp | ||
| 2010 | 43.5% | +6.50pp | ||
| 2009 | 37.0% | +0.02pp | ||
| 2008 | 36.9% | -3.90pp | ||
| 2007 | 40.8% | -7.13pp | ||
| 2006 | 48.0% | -1.87pp | ||
| 2005 | 49.8% | -4.92pp | ||
| 2004 | 54.7% | — |
- 202549.8%+0.92pp
- 202448.9%-0.95pp
- 202349.8%+9.67pp
- 202240.1%+2.17pp
- 202138.0%+10.05pp
- 202027.9%-21.78pp
- 201949.7%+0.50pp
- 201849.2%-1.07pp
- 201750.3%+0.72pp
- 201649.6%+1.89pp
- 201547.7%+0.78pp
- 201446.9%+1.47pp
- 201345.4%-0.06pp
- 201245.5%-2.22pp
- 201147.7%+4.24pp
- 201043.5%+6.50pp
- 200937.0%+0.02pp
- 200836.9%-3.90pp
- 200740.8%-7.13pp
- 200648.0%-1.87pp
- 200549.8%-4.92pp
- 200454.7%—
Gross Margin values are taken from Las Vegas Sands's reported income statements (quarterly 10-Q and annual 10-K filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.
About Gross Margin at Las Vegas Sands (LVS)
According to Las Vegas Sands's latest reported financial statements, the company's latest reported gross margin is 49.6%. Gross margin is gross profit divided by revenue, expressed as a percentage. It shows how much of each sales dollar survives the direct cost of goods sold — before operating expenses, interest, and taxes. A higher gross margin generally signals pricing power and production efficiency. Margins are most meaningful compared against sector peers and a company's own history.
Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .
The 2025 reading of Las Vegas Sands (LVS) gross margin is 49.79% – expanded 0.9 percentage points year-over-year.
2004 marks the peak gross margin at 54.75%, with the historical low of 27.93% recorded in 2020.
Las Vegas Sands Gross Margin by Year
Las Vegas Sands Gross Margin 2025: 49.8%
2025's gross margin for Las Vegas Sands came in at 49.79%, expanded 0.9 percentage points from 2024.
Las Vegas Sands Gross Margin 2024: 48.9%
Las Vegas Sands posted gross margin of 48.87% in 2024, contracted 0.9 percentage points from 2023.
Las Vegas Sands Gross Margin 2023: 49.8%
In 2023, Las Vegas Sands reported gross margin of 49.82%, expanded 9.7 percentage points from 2022.
Las Vegas Sands Gross Margin 2022: 40.1%
Las Vegas Sands gross margin in 2022 was 40.15%, expanded 2.2 percentage points from 2021.
Las Vegas Sands Gross Margin 2021: 38.0%
Las Vegas Sands gross margin in 2021 was 37.98%.
See more financial history for Las Vegas Sands (LVS).
Sector peers by Gross Margin
Consumer Cyclical peers of Las Vegas Sands (LVS), ranked by their latest gross margin
| 100.0% | |
| 57.4% | |
| 56.0% | |
| 50.6% | |
| 39.8% | |
| 33.1% | |
| 31.4% | |
| 19.1% |
- 100.0%
- 57.4%
- 56.0%
- 50.6%
- 39.8%
- 33.1%
- 31.4%
- 19.1%
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