Las Vegas Sands Corp (LVS)
Pretax margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before tax but after interest (EBT) (ttm) | US$ in thousands | 1,654,000 | 1,766,000 | 1,943,000 | 1,879,000 | 1,565,000 | 873,000 | 192,000 | -349,000 | 1,986,000 | 2,064,000 | 1,848,000 | 1,830,000 | -966,000 | -1,128,000 | -1,293,000 | -1,946,000 | -1,661,000 | -732,000 | 443,000 | 2,484,000 |
| Revenue (ttm) | US$ in thousands | 11,298,000 | 11,317,000 | 11,430,000 | 11,211,000 | 10,372,000 | 8,574,000 | 6,784,000 | 5,287,000 | 4,110,000 | 4,001,000 | 3,853,000 | 3,981,000 | 4,234,000 | 4,241,000 | 3,830,000 | 2,719,000 | 2,940,000 | 5,434,000 | 8,238,000 | 11,510,000 |
| Pretax margin | 14.64% | 15.60% | 17.00% | 16.76% | 15.09% | 10.18% | 2.83% | -6.60% | 48.32% | 51.59% | 47.96% | 45.97% | -22.82% | -26.60% | -33.76% | -71.57% | -56.50% | -13.47% | 5.38% | 21.58% |
December 31, 2024 calculation
Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $1,654,000K ÷ $11,298,000K
= 14.64%
The pretax margin of Las Vegas Sands Corp has shown a significant fluctuation over the period from March 31, 2020, to December 31, 2024. The pretax margin measures the company's efficiency in generating profits before accounting for taxes relative to its revenue.
In March 2020, the pretax margin was 21.58%, indicating a healthy profitability level. However, there was a notable decline in June and September 2020, with percentages of 5.38% and -13.47% respectively. This decline continued in the subsequent quarters, reaching its lowest point at -71.57% in March 2021, implying that the company was experiencing significant financial challenges.
The trend began to reverse in the following periods, with positive pretax margins of 45.97% in March 2022, and increasing steadily to 17.00% by June 2024. This improvement suggests the company implemented successful strategies to enhance profitability and operational efficiency.
Overall, the pretax margin of Las Vegas Sands Corp reflects a volatile performance during the analyzed period, with periods of both significant profitability and challenges. Investors and stakeholders should monitor the company's financial performance closely to assess its ongoing financial health and sustainability.
Peer comparison
Dec 31, 2024