Las Vegas Sands Corp (LVS)
Cash conversion cycle
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Days of inventory on hand (DOH) | days | 3.44 | 6.14 | 5.57 | 5.90 | 5.95 | 5.79 | 5.55 | 5.04 | 5.15 | 4.37 | 4.59 | 4.44 | 4.25 | 4.01 | 3.87 | 3.92 | 3.53 | 5.13 | 5.37 | 4.98 |
| Days of sales outstanding (DSO) | days | 13.47 | 13.32 | 13.92 | 13.67 | 17.03 | 16.60 | 18.08 | 22.64 | 23.89 | 19.16 | 14.97 | 13.48 | 17.59 | 14.37 | 15.25 | 27.52 | 42.71 | 25.66 | 25.12 | 20.71 |
| Number of days of payables | days | 13.77 | 20.80 | 22.44 | 23.61 | 26.16 | 24.80 | 23.42 | 19.46 | 16.37 | 17.31 | 14.54 | 13.31 | 14.86 | 13.48 | 12.15 | 11.92 | 14.30 | 10.56 | 9.28 | 11.33 |
| Cash conversion cycle | days | 3.15 | -1.35 | -2.94 | -4.03 | -3.18 | -2.41 | 0.21 | 8.23 | 12.67 | 6.22 | 5.02 | 4.60 | 6.97 | 4.90 | 6.97 | 19.51 | 31.94 | 20.23 | 21.21 | 14.35 |
December 31, 2024 calculation
Cash conversion cycle = DOH + DSO – Number of days of payables
= 3.44 + 13.47 – 13.77
= 3.15
Las Vegas Sands Corp's cash conversion cycle has shown fluctuations over the period from March 31, 2020, to December 31, 2024. The company's cash conversion cycle decreased significantly from 14.35 days on March 31, 2020, to -3.18 days on December 31, 2023, and then increased to 3.15 days on December 31, 2024.
A negative cash conversion cycle indicates that the company is efficiently managing its working capital, as it is able to collect cash from sales before paying its suppliers. However, in the case of Las Vegas Sands Corp, the company moved from negative cash conversion cycles back to a positive one, which may indicate changes in its operating cycle or management of cash flows.
Overall, the decreasing trend in the cash conversion cycle until December 31, 2023, suggests improved efficiency in managing the company's inventory, receivables, and payables. The subsequent increase in the cash conversion cycle by December 31, 2024, may require closer monitoring to ensure optimal working capital management in the future.
Peer comparison
Dec 31, 2024