Reef Casino Trust vs Las Vegas Sands: Fair Value & Quality
Both stocks run through our valuation models. Here is how Reef Casino Trust (RCT) and Las Vegas Sands (LVS) compare, as of Aug 11, 2026.
As of Aug 11, 2026, Fair Value Calculator sees Las Vegas Sands as the more attractively valued of the two: Reef Casino Trust trades at A$3.86 versus a fair value of A$2.31 (-40%), while Las Vegas Sands trades at $45.77 versus $52.27 (+14%).
Reef Casino Trust
RCT.AU · AUD · Consumer Discretionary
-40%
upside to fair value
overvalued
PriceA$3.86
Fair ValueA$2.31
Quality60/100
Las Vegas Sands
LVS · USD · Consumer Discretionary
+14%
upside to fair value
undervalued
Price$45.77
Fair Value$52.27
Quality70/100
Head-to-head numbers
Green value = the better side for that row (for valuation multiples: lower = cheaper).
Reef Casino TrustLas Vegas Sands
Valuation
16.6×P/E (TTM)17.0×
4.79×P/S (TTM)2.16×
10.52×P/B18.66×
8.0×EV/EBITDA8.4×
—PEG0.93×
5.9%Dividend yield2.4%
A$0.22Dividend per share$1.10
Profitability
20%Net margin13%
49%Operating margin25%
46%Return on equity90%
7%Return on assets10%
Growth
12%Revenue growth (YoY)25%
-4.3%Avg. growth/yr (3Y)46.9%
11.3%Avg. growth/yr (5Y)34.7%
Balance & size
0.08×Debt / equity9.22×
$128MMarket cap$30B
mixedGrowth qualityhealthy
Reef Casino Trust leads: 7 to 6 metric wins.
Dash = 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.
Reef Casino Trustof which business quality 56 · market factors 72Las Vegas Sandsof which business quality 64 · market factors 33
ProfitabilityMargins and returns on capital today
52
60
Quality GrowthAre margins and returns improving?
40
58
CashflowEarnings quality: real cash, not paper profit
InvestmentDisciplined investing over empire-building
67
86
Low VolatilityCalm price path (market factor)
95
65
MomentumPrice trend over the last 3–12 months (market factor)
55
24
52W MomentumDistance to the 52-week high (market factor)
74
14
Net IssuanceBuybacks instead of dilution
82
100
What the models say
The median fair value (base case) per model family, each in the currency of its trading venue. Green = above the current price, red = below.
Reef Casino Trust
DCF ModelsA$3.47
Earnings-BasedA$3.80
MultiplesA$1.69
Asset-BasedA$0.16
Growth DCFA$2.49
Economic ProfitA$1.21
Growth EarningsA$5.05
16 of 24 models see the stock below the current price.
Las Vegas Sands
DCF Models$50.41
Earnings-Based$31.58
Dividend Discount$22.12
Multiples$38.80
Asset-Based$1.61
Growth DCF$33.44
Economic Profit$30.87
Growth Earnings$49.90
14 of 26 models see the stock below the current price.
Scenario ranges
From our cautious bear case to the optimistic bull case. The white tick is the current price: left of fair value means room to run.
Reef Casino Trust
Bear A$1.32Fair Value A$2.31Bull A$6.56
A$3.86 = current price (white tick)
Las Vegas Sands
Bear $22.10Fair Value $52.27Bull $67.52
$45.77 = current price (white tick)
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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.
Reef Casino Trust · Consumer Discretionary
Quality score60 · above median
Fair value upside-40% · below median
Las Vegas Sands · Consumer Discretionary
Quality score70 · Top 25%
Fair value upside+14% · above median
Bottom line
As of Aug 11, 2026, Fair Value Calculator sees Las Vegas Sands as the more attractively valued of the two: Reef Casino Trust trades at A$3.86 versus a fair value of A$2.31 (-40%), while Las Vegas Sands trades at $45.77 versus $52.27 (+14%).
Las Vegas Sands has the higher quality score (70/100).
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A model-based valuation snapshot from 21 models. Values change with price and fundamentals; the date shown above applies.
