How does Las Vegas Sands (LVS) make money?

Las Vegas Sands (LVS) primarily makes money through Casino, which accounts for 87.3% of total revenue. For TTM through Q1 2026, Las Vegas Sands generated $13.74B in total revenue with a net profit margin of 13.4%.

What is Las Vegas Sands (LVS) gross profit margin?

Las Vegas Sands (LVS) reported a gross profit margin of 26.7% for TTM through Q1 2026, equivalent to $3.67B in gross profit. This means Las Vegas Sands retains 26.7% of each revenue unit after direct costs of production.

What is Las Vegas Sands (LVS) operating profit margin?

Las Vegas Sands (LVS) reported an operating profit margin of 24.6% for TTM through Q1 2026, equivalent to $3.38B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.

What is Las Vegas Sands (LVS) net profit margin?

Las Vegas Sands (LVS) reported a net profit margin of 13.4% for TTM through Q1 2026, equivalent to $1.84B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.

How much does Las Vegas Sands (LVS) invest in R&D?

Las Vegas Sands (LVS) invested $141.00M in research and development in TTM through Q1 2026 (1.0% of total revenue). R&D spending reflects investment in future products, services, and technologies.

How much does Las Vegas Sands (LVS) spend on capital expenditures?

Las Vegas Sands (LVS) spent $908.00M on capital expenditures in TTM through Q1 2026 (6.6% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.

What is Las Vegas Sands (LVS) free cash flow?

Las Vegas Sands (LVS) generated $2.32B in free cash flow for TTM through Q1 2026 (16.9% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.

What is Las Vegas Sands (LVS) effective tax rate?

Las Vegas Sands (LVS) had an effective tax rate of 15.7% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

How Las Vegas Sands (LVS) Makes Money: A Visual Guide

Las Vegas Sands (LVS) generated $13.74B in revenue, earning $1.84B in net profit (13.4% margin). Its largest revenue source is Casino (87.3% of revenue). Below is an interactive breakdown of how revenue flows through the income statement.

Las Vegas Sands (LVS) Income Statement Flow — TTM through Q1 2026

Calculated from the four most recent reported quarters, ending March 31, 2026 (reported April 24, 2026).

Frequently asked questions

How does Las Vegas Sands (LVS) make money?: Las Vegas Sands (LVS) primarily makes money through Casino, which accounts for 87.3% of total revenue. For TTM through Q1 2026, Las Vegas Sands generated $13.74B in total revenue with a net profit margin of 13.4%.
What is Las Vegas Sands (LVS) gross profit margin?: Las Vegas Sands (LVS) reported a gross profit margin of 26.7% for TTM through Q1 2026, equivalent to $3.67B in gross profit. This means Las Vegas Sands retains 26.7% of each revenue unit after direct costs of production.
What is Las Vegas Sands (LVS) operating profit margin?: Las Vegas Sands (LVS) reported an operating profit margin of 24.6% for TTM through Q1 2026, equivalent to $3.38B in operating profit. This reflects profitability after operating expenses such as R&D, sales, and administration, but before taxes and non-operating items.
What is Las Vegas Sands (LVS) net profit margin?: Las Vegas Sands (LVS) reported a net profit margin of 13.4% for TTM through Q1 2026, equivalent to $1.84B in net profit. This is the share of revenue that remains as profit after all expenses, taxes, and non-operating items.
How much does Las Vegas Sands (LVS) invest in R&D?: Las Vegas Sands (LVS) invested $141.00M in research and development in TTM through Q1 2026 (1.0% of total revenue). R&D spending reflects investment in future products, services, and technologies.
How much does Las Vegas Sands (LVS) spend on capital expenditures?: Las Vegas Sands (LVS) spent $908.00M on capital expenditures in TTM through Q1 2026 (6.6% of total revenue). Capital expenditures represent investments in physical assets such as property, equipment, and infrastructure.
What is Las Vegas Sands (LVS) free cash flow?: Las Vegas Sands (LVS) generated $2.32B in free cash flow for TTM through Q1 2026 (16.9% of total revenue). Free cash flow is the cash remaining after capital expenditures and represents the company's ability to fund growth, pay dividends, or reduce debt.
What is Las Vegas Sands (LVS) effective tax rate?: Las Vegas Sands (LVS) had an effective tax rate of 15.7% for TTM through Q1 2026. This is the actual percentage of pre-tax income paid as income taxes.

Data & methodology

What is a Sankey diagram?: A Sankey diagram shows how money flows through a company from revenue to net profit. The width of each flow represents its proportion.
How is the data calculated?: We use the income statement from company filings. For TTM (Trailing Twelve Months), we use a pre-aggregated twelve-month view aligned with our latest four quarterly periods. Revenue flows to cost of revenue and gross profit, then to operating expenses (R&D, S&M, G&A) and operating profit.
When was this data last updated?: Based on company filings through TTM through Q1 2026.