Las Vegas Sands Corp (LVS) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of Las Vegas Sands Corp stock $55.26, price $40.92, upside +35.0%, quality 68 out of 100. Rating: undervalued. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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The stock costs 26% less than our calculation considers fair.
Fair value $55.26 · Undervalued (26%)
Quality 68/100
Solidly profitable · 11.9% net margin (TTM)
Generates free cash flow
2.9% dividend yield · Well covered
Ranks above peers(8/12)
Mixed Growth(revenue 5y +34.7 %/yr in USD)
Negative equity (buybacks among others)
Moderate moat59/100 · thin data
Some data
Risks from the AI analysis
🚩Tighter capital outflows from China pressuring Macau revenues🚩Rivals Galaxy and MGM China intensify Macau competition🚩Dependence on limited Macau gaming concessions
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range $28.28 – $68.29 · fair‑value band $34.27 – $69.08 · the $40.92 price screens below the $55.26 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 3 fiscal years are left out: there the valuation rested on only a fraction of the usual models. As of Nov 6, 2026.
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Las Vegas Sands Corp., together with its subsidiaries, owns, develops, and operates integrated resorts in Macao and Singapore.
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It owns and operates The Venetian Macao Resort Hotel, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, and The Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.
The company's integrated resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants, and other amenities. The company was founded in 1988 and is based in Las Vegas, Nevada.
Stock analysis
Las Vegas Sands Corp (LVS) currently trades at $40.92, while our model-based Fair Value estimate is $55.26, implying the stock looks roughly 26% undervalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of $58.36 per share, and 13 of the 26 models we run sit above the $40.92 price.
Bear case: the Economic Profit group reads lowest at $12.99, and 13 of the 26 models stay below the price. Data coverage for this calculation is medium.
Scenario range: $34.27 (bear) to $69.08 (bull), the price of $40.92 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 68/100 (solid quality), in the Consumer Cyclical sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Las Vegas Sands Corp reported revenue of $13.0B in FY2025 versus $4.2B in FY2021, a compound +32.4%/yr. Reported net income was $1.6B in FY2025.
Key figures
Market cap $27.1B Large · P/E ratio 17.0 · P/S ratio 1.99 · EPS (TTM) $2.41 · Dividend yield 2.9% · Net margin 11.9% · Return on equity 207% · Return on assets (EBIT) 6.0%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 40% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 2% fair-value upside, at 35%, LVS screens cheaper than that median.
Fair Value models
Bear$34.27Fair Value $55.26Bull$69.08
Price $40.92 · Upside +35.0%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then ($1.03 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
In the last 6 months, no officer or director bought or sold shares on the open market.
SaleCharles D FormanDirector11,400 shares at $54.09$616,626Apr 27, 2026
SalePatrick DumontChairman & CEO, Director3× since Dec 1, 2025: 423,425 shares, avg. $67.12$28.4MMar 17, 2026
SaleRobert G GoldsteinChairman & CEO, Director5× since Nov 6, 2025: 2,860,000 shares, avg. $66.35$189.8MDec 17, 2025
SaleMiriam Adelson10% owner77,991 shares at $67.56$5.3MDec 16, 2025
SaleIrwin ChafetzDirector30,000 shares at $69.76$2.1MDec 1, 2025
SaleD. Zachary HudsonEVP and Global General Counsel2× since Nov 7, 2025: 153,257 shares, avg. $66.86$10.2MDec 1, 2025
SaleRandy HyzakEVP & CFO57,545 shares at $66.45$3.8MNov 25, 2025
Plus 9 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.
Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.100/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+15.2%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+46.9%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+34.7%
Start year 2020 (pandemic). Over 10 years: +1.1% a year
Revenue growth 25 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+12.8%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: adjusted.
−2.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−5.5%
Dividend (yield on the price)2.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−7.7% vs −0.5%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.−47% → 24%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+8.5%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+3.6%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +6.0% a year for the price and +1.2% for the forecasts.
AI conclusion: Deployment of AI robot guides strengthens non-gaming offerings in Macau, yet high leverage remains the key weakness in this cyclical industry.
Main risk: Rivals such as Galaxy Entertainment and MGM China could capture greater market share in Macau through aggressive promotions and property upgrades, squeezing LVS margins and volumes in its core integrated resort operations.
Bull case: By continuing investments in premium amenities, entertainment and service enhancements LVS could strengthen its market position in Macau and attract more high-value visitors despite rival pressure.
Bear case: If rivals erode share through sustained promotions and if concession terms tighten further LVS might see persistent margin pressure and reduced ability to operate its Macau properties at full scale.
Las Vegas Sands is deploying embodied AI guides and resort-wide navigation via Tutu robot dogs in partnership with Amap across its Macau properties. This builds on its non-gaming focus to sharpen the premium edge even as Macau gaming revenues face recent pressure from tighter capital outflows in China. Our models currently see the stock as undervalued. Will the technology and amenities drive enough incremental spending to outweigh the external economic constraints?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Resorts & Casinos · 63 stocks
Beats the industry median on 8/12 measures
Overall it ranks above its industry peers.
Valuation
Quality Score68 · Top 25%
Fair Value upside+35.0% · Above median
Profitability
Return on equity (12 months)Negative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Return on assets7.4% · Top 25%
Net margin (12 months)11.9% · Above median
Operating margin (12 months)19.3% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−3.5% · Below median
Dividend yield (12 months)2.9% · Below median
Balance sheet
Debt / equityNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
Valuation Multiplesvs Resorts & Casinos median · lower = cheaper
P/E (12 months)17.0× · Cheaper than median
P/BNegative equity ⓘThe company's equity is below zero, for example after large share buybacks. A ratio to negative equity has no meaning, so we show no number here and do not rank it against the peer group.
P/S (12 months)1.99× · Pricier than median
Price / free cash flow (fiscal year)15.2× · Pricier than median
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Is Las Vegas Sands Corp (LVS) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of $55.26 versus a price of $40.92, about +35% upside (undervalued).
What is the fair value of LVS?
Our model-based fair value for Las Vegas Sands Corp is $55.26 (as of Nov 6, 2026), built from audited fundamentals. The current price: $40.92.
What is the quality score of LVS?
Las Vegas Sands Corp has a Quality Score of 68/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Las Vegas Sands Corp (LVS)?
Our model-based price target is the fair value of $55.26 (as of Nov 6, 2026) from 26 valuation models. Cautious scenario $34.27, optimistic scenario $69.08. It is a calculation from audited fundamentals, not an analyst target.
What is the Las Vegas Sands Corp stock forecast for 2026?
Our models put fair value at $55.26, about +35% upside versus a price of $40.92 (undervalued). Cautious scenario $34.27, optimistic scenario $69.08. The calculation is refreshed regularly with new filings.
What is the revenue of Las Vegas Sands Corp (LVS)?
Las Vegas Sands Corp reported trailing-twelve-month revenue of about $13.6B (latest available figure, as of Nov 6, 2026).
Does Las Vegas Sands Corp pay a dividend?
Las Vegas Sands Corp currently shows a dividend yield of 2.93% relative to its recent price (as of Nov 6, 2026).
What growth is priced into Las Vegas Sands Corp (LVS)?
For today's price to be fair in a discounted-cash-flow model, Las Vegas Sands Corp would have to grow free cash flow by +8.5 % per year for five years (discount rate 8.7 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +34.7 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of LVS use?
Our models discount Las Vegas Sands Corp at 8.7 %: a base by market capitalisation (large), damped by beta 0.77, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Las Vegas Sands Corp that is +8.5 % per year a year over ten years, using the same discount rate (8.7 %) and the same formula as our fair value.
How much growth has Las Vegas Sands Corp (LVS) delivered so far?
Over the past 5 years revenue at Las Vegas Sands Corp grew +34.7 % a year. The price currently implies +8.5 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Las Vegas Sands Corp (LVS) growing?
The median revenue growth in the sector is +4.6 % a year. That is the yardstick for the growth priced into Las Vegas Sands Corp (+8.5 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Las Vegas Sands Corp (LVS)?
The free-cash-flow yield on the price is 6.56 %: that much free cash flow Las Vegas Sands Corp produces per unit of market value. When it exceeds the discount rate of our models (8.7 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Las Vegas Sands Corp (LVS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Las Vegas Sands Corp it is $55.26 per share (as of Nov 6, 2026), against a price of $40.92. It is the blended result of 26 valuation models (cash flow, earnings, asset, dividend).
Is Las Vegas Sands Corp stock overvalued or undervalued in 2026?
As of Nov 6, 2026, LVS trades below its calculated fair value: price $40.92, fair value $55.26, a gap of about +35% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of LVS?
No. The price is what the market pays today ($40.92); the fair value is what the company's own numbers justify ($55.26). For Las Vegas Sands Corp the two are $14.34 per share apart. That gap is exactly why we show both numbers side by side.
How much is Las Vegas Sands Corp worth?
The market values Las Vegas Sands Corp at about $27.1B (market capitalisation, as of Nov 6, 2026). Per share that is $40.92; our models calculate a fair value of $55.26 per share.
What do the bullish and bearish scenarios say about LVS?
Our models span a range for Las Vegas Sands Corp: cautious scenario $34.27, base $55.26, optimistic $69.08 per share (as of Nov 6, 2026, price $40.92). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LVS?
Las Vegas Sands Corp trades at a price-to-earnings ratio of 17.0 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $55.26 is built from several models across several years. Excluding one-off items of fiscal year 2025 it is 15.2 (reported for FY2025: 17.4). Median P/E at fiscal year-end, 7 fiscal years (2016 to 2025), reported earnings, 6 of the years ex one-offs: 21.1. Other multiples: PEG 0.8, P/S 2.0, EV/EBITDA 8.5.
What is the PEG ratio of LVS?
The PEG ratio of Las Vegas Sands Corp is 0.78 (P/E divided by earnings growth, as of Nov 6, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Las Vegas Sands Corp (LVS)?
Balance-sheet figures for Las Vegas Sands Corp (as of Nov 6, 2026): negative equity, so no return on equity and no debt-to-equity ratio. They feed the Quality Score of 68/100, which measures business quality independently of the share price.
How far is LVS from its 52-week high?
Las Vegas Sands Corp trades at $40.92, about 40% below its 52-week high of $68.29 and 15% above the low of $35.68 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of $55.26 is for.
Which stocks are comparable to Las Vegas Sands Corp?
From the same area (Consumer Cyclical) we also value Galaxy Entertainment Group, Sands China Ltd, Wynn Resorts, Limited, MGM Resorts International, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Las Vegas Sands Corp stock attractive at the current price?
The data as of Nov 6, 2026: price $40.92, calculated fair value $55.26 (+35%), Quality Score 68/100, from 26 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of LVS calculated?
We run Las Vegas Sands Corp through 26 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $55.26, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Las Vegas Sands Corp currently trades 26% below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Las Vegas Sands Corp (LVS)?
The closing price on Nov 5, 2026 was $40.92. Our model-based fair value is $55.26, about +35% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Las Vegas Sands Corp right now?
Solid quality (68/100) at a price below fair value, the discount is the argument here, not the business quality. A fairly wide model range ($34.27 to $69.08) leaves room in how you read the outcome.
Where does the earnings growth of Las Vegas Sands Corp (LVS) come from?
Earnings per share at Las Vegas Sands Corp grew −3.5 % a year from 2014 to 2025. Broken into its drivers: revenue per share +0.1 %, EBIT margin −1.1 %, tax rate −0.9 %, residual (interest, one-offs) −1.7 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Las Vegas Sands Corp
How large is the market capitalisation of Las Vegas Sands Corp (LVS)?
The market capitalisation of Las Vegas Sands Corp is $27.1B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Las Vegas Sands Corp (LVS)?
The price-to-sales ratio of Las Vegas Sands Corp is 1.99 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Las Vegas Sands Corp (LVS)?
Earnings per share at Las Vegas Sands Corp are $2.41 (price ÷ EPS = P/E 17.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Las Vegas Sands Corp (LVS)?
The dividend yield of Las Vegas Sands Corp is 2.9% (payout 43.5%, on adjusted earnings, reported 49.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Las Vegas Sands Corp (LVS)?
The net margin of Las Vegas Sands Corp is 11.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Las Vegas Sands Corp (LVS)?
The return on equity (ROE) of Las Vegas Sands Corp is 207% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Las Vegas Sands Corp (LVS)?
On an EBIT basis the return on assets of Las Vegas Sands Corp is 6.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Las Vegas Sands Corp (LVS)?
The operating margin of Las Vegas Sands Corp is 19.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Las Vegas Sands Corp (LVS)?
Revenue at Las Vegas Sands Corp is growing −3.5% versus a year earlier (3y avg +46.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Las Vegas Sands Corp (LVS)?
Earnings per share at Las Vegas Sands Corp are growing −22.0% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Las Vegas Sands Corp (LVS) carry?
The net debt of Las Vegas Sands Corp is $12.3B (fiscal year 2025, ≈ 6.9 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 6, 2026