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Operating Margin for Las Vegas Sands (LVS)

As of · Reported

Metric

TTM

24.6%

YoY change

+1.90pp

Trough year (2020)

-47.4%

Peak year (2004)

51.7%

Operating Margin history chart for Las Vegas Sands (LVS) from 2000 to 2025

Latest: 23.7%

Operating Margin change chart for Las Vegas Sands (LVS) from 2000 to 2025

Latest: +1.90pp

Operating Margin history table for Las Vegas Sands (LVS) from 2000 to 2025

  • 202523.7%+1.90pp
  • 202421.8%-0.88pp
  • 202322.7%+41.44pp
  • 2022-18.7%-2.46pp
  • 2021-16.3%+31.11pp
  • 2020-47.4%-75.13pp
  • 201927.7%+0.43pp
  • 201827.3%+0.11pp
  • 201727.2%+5.02pp
  • 201622.2%-2.11pp
  • 201524.3%-3.80pp
  • 201428.1%+3.35pp
  • 201324.8%+3.99pp
  • 201220.8%-4.63pp
  • 201125.4%+8.17pp
  • 201017.2%+17.86pp
  • 2009-0.6%-4.36pp
  • 20083.7%-7.46pp
  • 200711.2%-14.48pp
  • 200625.7%-2.45pp
  • 200528.1%-23.55pp
  • 200451.7%+24.76pp
  • 200326.9%+1.25pp
  • 200225.7%+3.48pp
  • 200122.2%-1.36pp
  • 200023.5%—

Operating 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 Operating Margin at Las Vegas Sands (LVS)

According to Las Vegas Sands's latest reported financial statements, the company's latest reported operating margin is 24.6%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending (reported ). Chart and table below cover the full reported history back to .

2025's annual operating margin for Las Vegas Sands (LVS) came in at 23.73% – expanded 1.9 percentage points year-over-year.

51.67% stands as the all-time-high annual operating margin, posted in 2004, against a low of -47.38% during 2020.

Las Vegas Sands Operating Margin by Year

Las Vegas Sands Operating Margin 2025: 23.7%

Las Vegas Sands posted operating margin of 23.73% in 2025, expanded 1.9 percentage points from 2024.

Las Vegas Sands Operating Margin 2024: 21.8%

In 2024, Las Vegas Sands reported operating margin of 21.83%, contracted 0.9 percentage points from 2023.

Las Vegas Sands Operating Margin 2023: 22.7%

Las Vegas Sands operating margin in 2023 was 22.71%, expanded 41.4 percentage points from 2022.

Las Vegas Sands Operating Margin 2022: -18.7%

2022's operating margin for Las Vegas Sands came in at -18.73%, contracted 2.5 percentage points from 2021.

Las Vegas Sands Operating Margin 2021: -16.3%

Las Vegas Sands operating margin in 2021 was -16.27%.

See more financial history for Las Vegas Sands (LVS).

Sector peers by Operating Margin

Consumer Cyclical peers of Las Vegas Sands (LVS), ranked by their latest operating margin

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