Las Vegas Sands Corp (LVS)

Cash conversion cycle

Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Days of inventory on hand (DOH) days 5.95 5.15 4.25 3.53 5.00
Days of sales outstanding (DSO) days 17.03 23.89 17.59 42.71 25.49
Number of days of payables days 26.16 16.37 14.86 14.30 20.14
Cash conversion cycle days -3.18 12.67 6.97 31.94 10.36

December 31, 2023 calculation

Cash conversion cycle = DOH + DSO – Number of days of payables
= 5.95 + 17.03 – 26.16
= -3.18

The cash conversion cycle of Las Vegas Sands Corp has fluctuated over the past five years. In 2023, the company's cash conversion cycle decreased significantly to 7.99 days from 14.72 days in 2022. This indicates that the company took less time to convert its investment in inventory into cash during the year.

Comparing to 2021, the cash conversion cycle also improved in 2023, showing a decrease from 9.78 days to 7.99 days. The company was able to manage its receivables and payables more effectively, resulting in a shorter cash conversion cycle.

In contrast, the cash conversion cycle increased substantially in 2020 to 24.92 days from 16.44 days in 2019. This indicates that the company took longer to convert its investments in inventory into cash during that year.

Overall, the trend in Las Vegas Sands Corp's cash conversion cycle shows fluctuations over the past five years, with improvements in some years and deteriorations in others. Monitoring and managing the cash conversion cycle are crucial for the company to optimize its working capital efficiency.


Peer comparison

Dec 31, 2023


See also:

Las Vegas Sands Corp Cash Conversion Cycle