Las Vegas Sands Corp. — Intrinsic Value & Fair Price

LVS

NYSEConsumer CyclicalGambling, Resorts & CasinosCIK 0001300514sands.comAbout LVS

Last close · Oct 16, 202638.01−0.31 (−0.81%)

Market cap$24.6B

Model value · DCF · Perpetuity growth · 5y

60.92

Las Vegas Sands closed at $38.01 — undervalued by 38% vs model.

30.95the model's range160.20

DCF · Perpetuity growth · 5y leads for a cyclical company — positive operating income and three years of positive free cash flow. From a five-year discounted cash flow.

Other models

1.03 – 67.88

Wall St. target

60.50 37% below

Below model, 1y

20 of 20 days

Price and model value

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What the marks mean

Daily close

Valuation models

price $38.01 · as of Oct 17, 2026

DCF · Perpetuity growth · 5yused30.95 – 160.2060.9238% undervalued DCF · Perpetuity growth · 10y36.44 – 173.4667.8844% undervalued DCF · EBITDA exit · 5y13.27 – 66.6037.631% overvalued DCF · EBITDA exit · 10y21.71 – 79.8846.2718% undervalued P/E · peers44.59 – 52.0444.9115% undervalued P/E · own history58.51 – 75.6065.7742% undervalued PEG—59.7836% undervalued EV/EBITDA · peers21.55 – 31.1225.5349% overvalued EV/Revenue · peers—1.033590% overvalued Earnings power value5.62 – 18.3010.58259% overvalued Dividend discount11.40 – 24.5215.09152% overvalued Wall St. consensus target—60.5037% below Cost of capital (WACC)—6.91%—

DCF · Perpetuity growth · 5y leads for a cyclical company — positive operating income and three years of positive free cash flow. How we value a stock walks through every input.

engine pkg:0.1.0

Dividends

Quarterly · as of Oct 16, 2026

Yield, trailing 12 months

3.03%

Past 2 years

low 1.44%high 3.21%

Dividends per share, a year at a time

Dividends / free cash flow, FY2025: 44.9%
Raised: 1 years in a row
Growth, 2 yrs: 19.9% a year
Last change: +20.0% · Feb 2026

Every payment, with ex-dates · latest $0.30, paid Aug 12, 2026

Research on LVS

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How it is valued

Valued asCyclical

Moderate growth (~12% recent)Moderate margins (12% net margin)Strong dividend yieldHighly cyclical earningsHigh leverage (D/E 9.9x)Strong FCF yield (7.5%)

What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for cyclical companies

P/E

16.2×

EV / EBITDA

8.1×

FCF yield

6.8%

Dividend yield, TTM

3.03%

Beta

0.77

Cost of capital (WACC)

6.91%

On the lists: #45 Near 52-week lows · #18 Worst performing this year

Full financials

Superinvestors

13F · Q2 2026

BridgewaterBridgewater Associates, LP$18.2M Dodge & CoxDodge & Cox$1.3M

All 2 holders

Analyst actions

third-party, quoted

10-13Goldman Sachs · target47.00

07-30Argus Research · “Hold” from “Buy”downgrade

07-27Morgan Stanley · target61.00

07-23Mizuho Securities · target61.00

Ratings, targets and estimates

Recent

filings, insider trades and key news

08-31Form 4 · GAdelson Miriam · 8M sh@ 0.00 08-31Form 4 · GAdelson Miriam · 1M sh@ 0.00 07-2410-QQuarterly report 07-228-K · 2.02Results of Operations (Earnings)06-16Form 4 · GAdelson Miriam, SHELDON G. ADELSON 2007 REMAINDER TRUST, SHELDON G. ADELSON 2007 FRIENDS & FAMILY TRUST · 88M sh@ 0.00 06-16Form 4 · GAdelson Miriam, SHELDON G. ADELSON 2007 REMAINDER TRUST, SHELDON G. ADELSON 2007 FRIENDS & FAMILY TRUST · 88M sh@ 0.00

68 filings · 40 insider transactions

Comparable companies

by business, not by industry label

WYNNWynn Resorts MGMMGM Resorts VICIVici Properties HLTHilton Worldwide MARMarriott International

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just LVS. No account.

About Las Vegas Sands

Las Vegas Sands Corporation, in conjunction with its various subsidiaries, specializes in the development, ownership, and ongoing management of comprehensive integrated resort properties across both Asian and United States markets. The company maintains a significant portfolio of establishments in Macao, People's Republic of China, including The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao (which encompasses the Four Seasons Hotel Macao, Cotai Strip), and the Sands Macao. Furthermore, its Asian operations extend to Singapore, where it presides over the iconic Marina Bay Sands. Domestically, Las Vegas Sands also operates key assets within Las Vegas, Nevada: The Venetian Resort Hotel Casino, prominently situated on the renowned Las Vegas Strip, and the Sands Expo and Convention Center. These expansive integrated resorts are meticulously designed to offer a full spectrum of guest experiences, boasting luxurious accommodations, extensive gaming facilities, diverse entertainment venues, high-end retail shopping complexes, state-of-the-art convention and exhibition spaces, gourmet restaurants helmed by celebrity chefs, and numerous other guest conveniences. Established in 1988, Las Vegas Sands Corp. maintains its corporate headquarters in Las Vegas, Nevada.

CEO: Patrick Sydney Dumont
Headquarters: Las Vegas, NV
Employees: 41,250
IPO: 2004-12-15

Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.