Las Vegas Sands Corp (LVS)
Pretax margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 1,654,000 | 1,565,000 | 1,986,000 | -966,000 | -1,661,000 |
| Revenue | US$ in thousands | 11,298,000 | 10,372,000 | 4,110,000 | 4,234,000 | 2,940,000 |
| Pretax margin | 14.64% | 15.09% | 48.32% | -22.82% | -56.50% |
December 31, 2024 calculation
Pretax margin = EBT ÷ Revenue
= $1,654,000K ÷ $11,298,000K
= 14.64%
The pretax margin of Las Vegas Sands Corp has shown significant fluctuations over the years based on the provided data.
As of December 31, 2020, the company had a negative pretax margin of -56.50%, indicating that expenses exceeded revenue before accounting for taxes. This suggests a period of financial difficulty or inefficiency.
By December 31, 2021, the pretax margin improved to -22.82%, still negative but showing some signs of recovery. However, the company was still not generating enough profit before taxes.
The situation changed dramatically by December 31, 2022, as the pretax margin surged to 48.32%, marking a remarkable turnaround and demonstrating strong profitability before tax expenses. This significant increase suggests that the company made substantial improvements in its cost management and revenue generation.
The positive trend continued in the following years, with the pretax margin at 15.09% as of December 31, 2023, and 14.64% by December 31, 2024. Even though there was a slight decrease compared to 2022, the company managed to maintain a healthy level of profitability before taxes.
Overall, the pretax margin of Las Vegas Sands Corp has shown volatility in the past few years, with a notable recovery and subsequent stability. This indicates the company's ability to address financial challenges and improve operational efficiency, ultimately leading to a stronger financial performance.
Peer comparison
Dec 31, 2024