Las Vegas Sands Corp (LVS)

Return on equity (ROE)

		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
Net income (ttm)	US$ in thousands	1,446,000	1,504,000	1,609,000	1,568,000	1,221,000	670,000	51,000	-551,000	1,832,000	1,878,000	1,749,000	1,847,000	-961,000	-1,137,000	-1,334,000	-1,962,000	-1,685,000	-757,000	341,000	2,115,000
Total stockholders’ equity	US$ in thousands	2,884,000	3,426,000	3,754,000	3,953,000	4,118,000	4,553,000	4,330,000	4,056,000	3,881,000	3,900,000	4,191,000	4,529,000	1,996,000	2,102,000	2,491,000	2,673,000	2,973,000	3,199,000	3,720,000	4,489,000
ROE		50.14%	43.90%	42.86%	39.67%	29.65%	14.72%	1.18%	-13.58%	47.20%	48.15%	41.73%	40.78%	-48.15%	-54.09%	-53.55%	-73.40%	-56.68%	-23.66%	9.17%	47.12%

December 31, 2024 calculation

ROE = Net income (ttm) ÷ Total stockholders’ equity
= $1,446,000K ÷ $2,884,000K
= 50.14%

Las Vegas Sands Corp's return on equity (ROE) experienced significant fluctuations over the period from March 31, 2020, to December 31, 2024. The company's ROE ranged from a high of 47.12% in March 2020 to a low of -73.40% in March 2021, indicating a wide disparity in profitability and efficiency in generating returns for shareholders.

The ROE steadily declined through 2021, reaching below -50% by the end of the year. However, there was a notable turnaround in ROE starting from March 2022, when it jumped to 40.78% and continued to increase steadily until December 2024, reaching a peak of 50.14%.

These fluctuations in ROE suggest that Las Vegas Sands Corp went through a period of financial instability and underperformance, potentially due to various factors impacting its profitability and efficiency. The significant improvement in ROE starting from 2022 indicates a positive shift in the company's financial performance and effectiveness in utilizing shareholder equity to generate returns.

Overall, it is essential for stakeholders and investors to closely monitor Las Vegas Sands Corp's ROE trends to assess its financial health, profitability, and efficiency in managing equity capital for sustainable growth and value creation.