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STOCK COMPARISON

Las Vegas Sands vs Penn National Gaming: Fair Value & Quality

Both stocks run through our valuation models. Here is how Las Vegas Sands (LVS) and Penn National Gaming (PENN) compare, as of Oct 1, 2026.

As of Oct 1, 2026, Fair Value Calculator sees Las Vegas Sands as the more attractively valued of the two: Las Vegas Sands trades at $37.81 versus a fair value of $55.26 (+46.2%), while Penn National Gaming trades at $14.65 versus $6.99 (−52.3%).
Las Vegas Sands
LVS · USD · Consumer Discretionary
+46.2%
upside to fair value
undervalued
Price$37.81
Fair Value$55.26
Quality69/100
Penn National Gaming
PENN · USD · Consumer Discretionary
−52.3%
upside to fair value
overvalued
Price$14.65
Fair Value$6.99
Quality38/100
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Head-to-head numbers

Green is the better side of a row, red the weaker one (for valuation multiples: lower = cheaper). Grey rows are for reference only and are not scored.

betterweakerfor reference, not scored

Las Vegas SandsPenn National Gaming
Valuation
14.9×P/E (TTM)n/a
10.8×Forward P/E (FY2027)12.3×
25.3×Median P/E at FY-end (7 FY, ex one-offs where documented)n/a
1.85×P/S (TTM)0.28×
15.98×P/B1.10× · book value is mostly goodwill
7.8×EV/EBITDA4.8×
0.84×PEG1.01×
+46.2%Fair value upside−52.3%
3.0%Dividend yieldn/a
$1.15Dividend per sharen/a
Profitability
19.7%Operating margin7.9%
n/aEBIT margin trend (5Y)0.10×
122.9%Return on equity-37.6%
9.6%Return on assets1.8%
Growth
-0.7%Revenue growth (YoY)5.2%
46.9%Avg. growth/yr (3Y)2.8%
34.7%Avg. growth/yr (5Y)14.2%
−0.3%Value creation/yrn/a
Balance & size
4.1×Interest coverage (EBIT/interest)0.7×
9.22×Debt / equity1.55×
$25BMarket cap$2B
mixedGrowth qualityexpensive
Las Vegas Sands, median P/E at fiscal year-end, 7 fiscal years (2016 to 2025), reported earnings, FY2019 ex one-offs: 25.3.
Forward P/E: price divided by the analyst consensus for the first fiscal year that has not started yet. The current year carries special items from quarters already reported.

Las Vegas Sands leads: 8 to 3 metric wins.

n/a = not meaningfully computable, for example with negative equity.

Quality in detail

The quality score, broken down into the same factor families as on the stock page, 0 to 100 per family.

Las Vegas Sandsof which business quality 63 · market factors 26 Penn National Gamingof which business quality 34 · market factors 21
ProfitabilityMargins and returns on capital today
60
11
Quality GrowthAre margins and returns improving?
58
25
CashflowEarnings quality: real cash, not paper profit
68
15
Fin. StrengthBalance sheet, leverage, solvency risk
28
9
InvestmentDisciplined investing over empire-building
86
87
Low VolatilityCalm price path (market factor)
65
25
MomentumPrice trend over the last 3–12 months (market factor)
14
21
52W MomentumDistance to the 52-week high (market factor)
0
17
Net IssuanceShare count: buybacks or dilution?
100
100

What the models say

How far the median fair value (base case) per model family sits from the current price, in percent. The amount in the currency of the trading venue is shown underneath.

above the price, more than 15% above close to the price, 85% to 115% of the price below the price, more than 15% below

Model familyLas Vegas SandsPrice $37.81Penn National GamingPrice $14.65
DCF Models+76.9%above the price$66.89n/a
Earnings-Based−14.6%close to the price$32.30−52.3%below the price$6.99
Dividend Discount−40.2%below the price$22.63n/a
Multiples+5.0%close to the price$39.69+1,929.8%above the price$297
Asset-Based−95.7%below the price$1.64+811.5%above the price$134
Growth DCF+29.0%above the price$48.79n/a
Economic Profit−22.3%below the price$29.38−52.3%below the price$6.99
Growth Earnings+35.0%above the price$51.05n/a
Minimum−95.7%below the price$1.64−52.3%below the price$6.99
Maximum+76.9%above the price$66.89+1,929.8%above the price$297
Median−4.8%close to the price$36.00+379.6%above the price$70.26
Geometric mean−30.3%below the price$26.36+154.8%above the price$37.32

Minimum, maximum, median and geometric mean refer to the family values in this table. Geometric because deviations are ratios: half the price and twice the price average to 100%, not 125%.

Las Vegas Sands: 13 of 26 models see the stock below the current price.

Penn National Gaming: 2 of 6 models see the stock below the current price.

Scenario ranges

From our cautious bear scenario to the optimistic bull scenario. The white tick is the current price (value above it), the green tick the fair value (value below it): if the price sits left of the fair value, there is room to rise.

Las Vegas Sands
Price $37.81
Fair Value $55.26
Bear $33.57Bull $69.08

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Ranked within their sector

Where each stock sits within its sector peer group. Band = middle 50% of peers, tick = median, dot = this stock.

Las Vegas Sands · Consumer Discretionary

Quality score69 · Top 25%
Fair value upside+46.2% · above median

Penn National Gaming · Consumer Discretionary

Quality score38 · bottom 25%
Fair value upside−52.3% · bottom 25%

Bottom line

As of Oct 1, 2026, Fair Value Calculator sees Las Vegas Sands as the more attractively valued of the two: Las Vegas Sands trades at $37.81 versus a fair value of $55.26 (+46.2%), while Penn National Gaming trades at $14.65 versus $6.99 (−52.3%).

Las Vegas Sands has the higher quality score (69/100).

Open Las Vegas Sands live analysis →

More comparisons

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A model-based valuation snapshot from 26 models. Values change with price and fundamentals; the date shown above applies.