Q4 25 EPS
$0.85
BEAT +10.53%
Est. $0.77
Q4 25 Revenue
$3.65B
BEAT +9.22%
Est. $3.34B
vs S&P Since Q4 25
-28.3%
TRAILING MARKET
LVS -16.9% vs S&P +11.4%
Full Year 2025 Results
FY 25 EPS
$3.01
BEAT +2.63%
Est. $2.93
FY 25 Revenue
$13.02B
BEAT +2.58%
Est. $12.69B
Market Reaction
Did LVS Beat Earnings? Q4 2025 Results
Las Vegas Sands delivered a standout fourth quarter, with revenue climbing 26.0% year-over-year to $3.65 billion against a consensus estimate of $3.32 billion, a beat of nearly 9.88%, while adjusted EPS of $0.85 topped the $0.77 Wall Street estimate … Read more Las Vegas Sands delivered a standout fourth quarter, with revenue climbing 26.0% year-over-year to $3.65 billion against a consensus estimate of $3.32 billion, a beat of nearly 9.88%, while adjusted EPS of $0.85 topped the $0.77 Wall Street estimate by 10.39%. The driving force behind the quarter was Marina Bay Sands in Singapore, where net revenues surged to $1.60 billion from $1.14 billion a year ago and Adjusted Property EBITDA reached $806 million, aided by elevated rolling chip volume that nearly doubled to $13.40 billion and a win percentage of 4.36% versus 3.34% in the prior year. Macao contributed $2.06 billion in net revenues, with The Londoner Macao emerging as a notable growth engine. The strong results also earned Sands a credit upgrade to BBB from Fitch Ratings, reflecting improved financial metrics and Singapore momentum. Looking ahead, management pointed to continued capital investment in both markets, an expanded $0.30 quarterly dividend, and $1.56 billion remaining in buyback capacity as evidence of confidence in sustained growth.
Key Takeaways
- • Outstanding financial performance at Marina Bay Sands with 50.3% EBITDA margin
- • High hold on rolling play at Marina Bay Sands positively impacted EBITDA by $45 million
- • High hold on rolling play in Macao positively impacted EBITDA by $26 million
- • Marina Bay Sands rolling chip volume increased to $13.4 billion from $8.1 billion YoY
- • The Londoner Macao revenue grew from $518 million to $699 million YoY
- • Casino revenue grew to $2.741 billion from $2.104 billion YoY
LVS YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
LVS Revenue by Segment
With YoY comparisons, source: SEC Filings
LVS Revenue by Geography
With YoY comparisons, source: SEC Filings
“We remain enthusiastic about our opportunities to deliver growth in both Singapore and Macao, as we realize the benefits of our market-leading capital investment programs.”
— Robert G. Goldstein, Q4 2025 Earnings Press Release
LVS Earnings Trends
LVS vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LVS EPS Trend
Earnings per share: estimate vs actual
LVS Revenue Trend
Quarterly revenue: estimate vs actual
LVS Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $0.76 | $0.59 | -22.82% | $3.15B | -5.06% |
| Q4 25 BEAT FY | $0.77 | $0.85 | +10.53% | $3.65B | +9.22% |
| FY Full Year | $2.93 | $3.01 | +2.63% | $13.02B | +2.58% |
| Q3 25 BEAT | $0.62 | $0.78 | +26.38% | $3.33B | +9.04% |
| Q2 25 BEAT | $0.53 | $0.79 | +49.99% | $3.18B | +11.92% |
| Q1 25 BEAT | $0.57 | $0.59 | +3.78% | $2.86B | -0.96% |