Las Vegas Sands Corp (LVS)
Pretax margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) | US$ in thousands | 1,565,000 | 1,986,000 | -966,000 | -1,661,000 | 3,130,000 |
| Revenue | US$ in thousands | 10,372,000 | 4,110,000 | 4,234,000 | 2,940,000 | 12,127,000 |
| Pretax margin | 15.09% | 48.32% | -22.82% | -56.50% | 25.81% |
December 31, 2023 calculation
Pretax margin = EBT ÷ Revenue
= $1,565,000K ÷ $10,372,000K
= 15.09%
The pretax margin of Las Vegas Sands Corp has shown significant fluctuations over the past five years. In 2019, the company reported a robust pretax margin of 27.45%, indicating strong profitability before taxes. However, this was followed by a sharp decline in 2020 to -60.38%, reflecting a substantial loss before taxes. The company then experienced further declines in 2021 and 2022, with pretax margins of -34.81% and -33.75% respectively.
In contrast, in 2023, Las Vegas Sands Corp was able to improve its pretax margin to 17.11%, indicating a return to profitability before taxes. This improvement suggests that the company may have implemented strategic changes or operational efficiencies to enhance its financial performance.
Overall, the trend in pretax margin for Las Vegas Sands Corp highlights the company's fluctuating profitability challenges in recent years, but the positive recovery in 2023 is a promising sign for its financial health.
Peer comparison
Dec 31, 2023