Las Vegas Sands

LCR.DE

Gambling, Resorts & Casinos · Consumer Cyclical

Price

€40.20

+0.78 (+1.97%)

Market Cap

€26.04B

Exchange

Frankfurt Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Good

Growth

Good

Cash Flow

Exceptional

Stability

Mixed

Valuation

Mixed

Dividends

Strong

Track this stock — start free trial

Share count falling — buybacks

−9.3% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 764.0M (2021) → 693.0M (2025)

Winston Score History

The full picture

Las Vegas Sands builds and runs large casino resorts. Its properties include hotels, gambling floors, shopping malls, restaurants, and convention spaces all under one roof — a format the company calls an "integrated resort." Despite its name, the company no longer operates in Las Vegas and focuses entirely on Asia and one property in Macao and Singapore.

The company makes money from casino gambling, hotel stays, food and beverage, and retail rent inside its resorts. Nearly all revenue comes from two markets: Macao, a special region of China where casino gambling is legal, and Singapore, where it operates the Marina Bay Sands. This heavy concentration in Asia is both its strength and its main risk — when China's economy slows or travel restrictions tighten, results suffer quickly. The key growth driver is the ongoing recovery of Chinese tourist spending and a planned resort expansion in Macao, though regulatory changes in either market could significantly impact the business.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-0.6% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-19.7% YoY

YoY Growth Rate

Earnings declining

R&D Spend

$269M/ year

↑ Rising (+18% vs prior year)

2.1% of revenue

Below sector average (4%)

R&D investment increasing — building for the future

Insider Activity

52.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$4.7B cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

Las Vegas Sands's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

23.5%

Thin — 23.5% gross margin

Profit after running costs

Operating Margin

19.8%

Healthy — 19.8% operating margin

Return on the money invested

ROCE

18.0%

Strong — 18.0% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Growth

Sales growth

Sales YoY

+18.0%

Fast-growing sales (+18.0% YoY)

Profit growth

EPS YoY

+29.8%

Earnings growing fast (+29.8% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Cash Flow

Profit that turns into cash

Cash Conversion

187%

Turns 187% of profit into real cash

Spare cash per sale

FCF Margin

16.9%

Converts sales into free cash efficiently (16.9%)

FCF margin between 10% and 20%. Every $100 in sales becomes $10 to $20 in real cash.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Stability

What it owes vs what it owns

Debt / Equity

13.13

Heavy debt load (13.13)

Covers its interest

Interest Cover

4.03x

Adequate interest coverage (4.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Valuation

Price vs profit

P/E Ratio (TTM)

15.6x

Fair value — P/E 15.6

P/E in the normal range. Price is roughly $15 for every $1 of yearly profit.

Cheaper or dearer next year

P/E vs Forward

-0.2

SLOWING

Earnings expected to fall — forward P/E higher than today

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

Dividends

Dividend

Dividend Yield

2.56%

Moderate income — 2.56% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record

Dividend Growth

+14.3%

Dividend growing fast (14.3% YoY)

Full breakdown available with your free trial

See every metric, trend, and what it means for this stock.

Try free

🔒 See full fundamentals and if they are improving or declining — click here for your free trial now.

Start free trial