Las Vegas Sands Corp (LVS)

Return on assets (ROA)

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	1,221,000	1,832,000	-961,000	-1,685,000	2,698,000
Total assets	US$ in thousands	21,778,000	22,039,000	20,059,000	20,807,000	23,199,000
ROA		5.61%	8.31%	-4.79%	-8.10%	11.63%

December 31, 2023 calculation

ROA = Net income ÷ Total assets
= $1,221,000K ÷ $21,778,000K
= 5.61%

Las Vegas Sands Corp's return on assets (ROA) has fluctuated over the past five years. The ROA was 5.61% in 2023, which was lower compared to the previous year's 8.31%. In 2021, the company experienced a negative ROA of -4.79%, indicating a period of lower profitability relative to its asset base. The negative trend continued in 2020 with an ROA of -8.10%. However, in 2019, Las Vegas Sands Corp achieved a notably higher ROA of 11.63%.

The declining trend from 2019 to 2021 might indicate challenges or inefficiencies in asset utilization and profitability. The significant drop in 2020 and 2021 could be a result of operational disruptions or decreased revenues, possibly due to external factors like the COVID-19 pandemic impacting the hospitality and gaming industry.

The recent improvement in 2023, compared to the previous year, suggests potential recovery or operational enhancements that have led to a better return on assets. It would be important to monitor future ROA figures to assess the company's ability to generate profits from its assets effectively. A higher ROA indicates better efficiency in asset management and higher profitability relative to the size of the asset base.