Question 1

What is Las Vegas Sands's P/B ratio?

Accepted Answer

Las Vegas Sands (LVS) P/B ratio is 28.1× as of June 5, 2026. The ratio is calculated by dividing market capitalisation by book value of equity, using USD-normalised financials (IAS 21 exchange-rate translation for non-USD reporters).

Question 2

How is the P/B ratio calculated?

Accepted Answer

P/B = Market Capitalisation ÷ Book Value of Equity (most recent quarterly shareholders' equity), or equivalently Share Price ÷ Book Value Per Share. 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 P/B ratio?

Accepted Answer

The price-to-book (P/B) ratio compares a company's market capitalisation to its book value of equity (total shareholders' equity) on the most recent quarterly balance sheet. It is calculated as market cap ÷ book value of equity (equivalent to share price ÷ book value per share). A P/B below 1× implies the market values the business below its accounting net worth; values well above 1× reflect intangible assets, brand value, or a high return on equity.

Question 4

What is a good P/B ratio for Las Vegas Sands?

Accepted Answer

A "good" P/B depends on the business model. Banks, insurers, and other capital-heavy financials typically trade near 1×; asset-light technology and consumer-brand companies can sustainably trade at 5×+ because much of their value is intangible. P/B is most informative when paired with return on equity (ROE). For Las Vegas Sands specifically, the relevant sector benchmark is the current sector median of 4.2×.

Question 5

Is Las Vegas Sands's P/B ratio high or low?

Accepted Answer

Las Vegas Sands's P/B ratio of 28.1× is above its own 5-year average of 13.0× and above the sector median of 4.2×. That places the current reading at the 95th 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 P/B ratio range?

Accepted Answer

In the available daily series, Las Vegas Sands (LVS) P/B ratio has ranged from a low of 0.5× in 2009 to a high of 30.5× in 2026. The 5-year average is 13.0× and the 5-year median is 10.5×.

Question 7

What was Las Vegas Sands's P/B ratio in 2025?

Accepted Answer

Las Vegas Sands (LVS) P/B ratio at the end of 2025 was 27.6×. Annual values reflect the multiple on the last trading day of each calendar year, using the trailing twelve-month book value figure available at that date.

Question 8

Why does Las Vegas Sands's P/B ratio change over time?

Accepted Answer

Valuation multiples move with two inputs: the numerator (market capitalisation, which tracks the share price) and the denominator (book value). 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	$1.59B	27.6×	+14.5×	Dec 31, 2025
2024	$37.75B	$2.88B	13.1×	+4.0×	Dec 31, 2024
2023	$37.35B	$4.12B	9.1×	-0.4×	Dec 31, 2023
2022	$36.73B	$3.88B	9.5×	-4.9×	Dec 31, 2022
2021	$28.76B	$2.00B	14.4×	-0.7×	Dec 31, 2021
2020	$44.90B	$2.97B	15.1×	+4.9×	Dec 31, 2020
2019	$52.98B	$5.19B	10.2×	+3.1×	Dec 31, 2019
2018	$40.60B	$5.68B	7.1×	-1.3×	Dec 31, 2018
2017	$54.90B	$6.49B	8.5×	+1.6×	Dec 31, 2017
2016	$42.47B	$6.18B	6.9×	+1.8×	Dec 31, 2016
2015	$34.85B	$6.82B	5.1×	-1.3×	Dec 31, 2015
2014	$46.61B	$7.21B	6.5×	-2.0×	Dec 31, 2014
2013	$64.86B	$7.67B	8.5×	+3.1×	Dec 31, 2013
2012	$37.95B	$7.06B	5.4×	+1.4×	Dec 31, 2012
2011	$31.18B	$7.85B	4.0×	-0.6×	Dec 31, 2011
2010	$30.37B	$6.66B	4.6×	+2.9×	Dec 31, 2010
2009	$9.86B	$5.85B	1.7×	+1.2×	Dec 31, 2009
2008	$2.11B	$4.42B	0.5×	-15.7×	Dec 31, 2008
2007	$36.57B	$2.26B	16.2×	+0.9×	Dec 31, 2007
2006	$31.70B	$2.08B	15.3×	+6.6×	Dec 31, 2006
2005	$13.98B	$1.61B	8.7×	-3.2×	Dec 31, 2005
2004	$15.63B	$1.32B	11.9×	—	Dec 31, 2004


V.F. (VFC)	3.5×
Carnival Corporation (CCL)	3.3×
Genuine Parts (GPC)	3.3×
Lululemon Athletica (LULU)	3.1×
Ball (BALL)	2.8×
PDD Holdings (PDD)	2.3×
GameStop (GME)	2.0×
XPeng (XPEV)	2.0×
Alibaba (BABA)	1.9×
Li Auto (LI)	1.8×
PulteGroup (PHM)	1.7×
Amcor (AMCR)	1.7×
D.R. Horton (DHI)	1.7×
Toll Brothers (TOL)	1.6×
Lucid Group (LCID)	1.5×
Sonoco Products (SON)	1.5×
Leggett & Platt (LEG)	1.3×
International Paper (IP)	1.3×
Lennar (LEN)	1.3×
Weyco Group (WEYS)	1.2×
Ford Motor (F)	1.2×
LKQ (LKQ)	1.2×
Smurfit Westrock (SW)	1.1×
General Motors (GM)	1.1×
Mohawk Industries (MHK)	0.7×

P/B Ratio for Las Vegas Sands (LVS)

P/B Ratio daily chart for Las Vegas Sands (LVS)

Historical P/B Ratio for Las Vegas Sands (LVS) from 2004 to 2025

About P/B Ratio at Las Vegas Sands (LVS)

Las Vegas Sands P/B Ratio by Year

Las Vegas Sands P/B Ratio 2025: 27.6×

Las Vegas Sands P/B Ratio 2024: 13.1×

Las Vegas Sands P/B Ratio 2023: 9.1×

Las Vegas Sands P/B Ratio 2022: 9.5×

Las Vegas Sands P/B Ratio 2021: 14.4×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

Las Vegas Sands (LVS) Key Financials

P/B Ratio daily chart for Las Vegas Sands (LVS)

Historical P/B Ratio for Las Vegas Sands (LVS) from 2004 to 2025

About P/B Ratio at Las Vegas Sands (LVS)

Las Vegas Sands P/B Ratio by Year

Las Vegas Sands P/B Ratio 2025: 27.6×

Las Vegas Sands P/B Ratio 2024: 13.1×

Las Vegas Sands P/B Ratio 2023: 9.1×

Las Vegas Sands P/B Ratio 2022: 9.5×

Las Vegas Sands P/B Ratio 2021: 14.4×

Sector peers by P/B Ratio — chart

Sector peers by P/B Ratio — table

Frequently asked questions

+What is Las Vegas Sands's P/B ratio?

+How is the P/B ratio calculated?

+What is the P/B ratio?

+What is a good P/B ratio for Las Vegas Sands?

+Is Las Vegas Sands's P/B ratio high or low?

+What is Las Vegas Sands's historical P/B ratio range?

+What was Las Vegas Sands's P/B ratio in 2025?

+Why does Las Vegas Sands's P/B ratio change over time?

Las Vegas Sands (LVS) Key Financials