Las Vegas Sands Corp (LVS)
Return on total capital
| 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 interest and tax (EBIT) (ttm) | US$ in thousands | 2,381,000 | 2,503,000 | 2,701,000 | 2,661,000 | 2,383,000 | 1,702,000 | 1,004,000 | 415,000 | 2,688,000 | 2,717,000 | 2,475,000 | 2,453,000 | -345,000 | -512,000 | -700,000 | -1,397,000 | -1,138,000 | -328,000 | 850,000 | 2,920,000 |
| Long-term debt | US$ in thousands | 13,353,000 | 13,723,000 | 13,298,000 | 13,451,000 | 13,526,000 | 13,301,000 | 13,920,000 | 15,240,000 | 15,140,000 | 13,750,000 | 13,310,000 | 14,350,000 | 15,060,000 | 15,090,000 | 15,500,000 | 15,360,000 | 15,150,000 | 14,640,000 | 14,390,000 | 11,650,000 |
| 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 |
| Return on total capital | 14.66% | 14.60% | 15.84% | 15.29% | 13.51% | 9.53% | 5.50% | 2.15% | 14.13% | 15.39% | 14.14% | 12.99% | -2.02% | -2.98% | -3.89% | -7.75% | -6.28% | -1.84% | 4.69% | 18.09% |
December 31, 2024 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,381,000K ÷ ($13,353,000K + $2,884,000K)
= 14.66%
Las Vegas Sands Corp's return on total capital fluctuated over the mentioned period. The ratio stood at 18.09% as of March 31, 2020, indicating a strong return on the overall capital invested in the company. However, there was a significant decline in the following quarters, with negative returns recorded from September 30, 2020, to March 31, 2021, reflecting challenges or inefficiencies in capital utilization during that period.
From March 31, 2022, the return on total capital began to improve, reaching 15.84% by June 30, 2024. This upward trend suggests that the company may have implemented strategies to enhance its capital efficiency and generate more returns for its capital providers.
Overall, monitoring the return on total capital is crucial as it indicates how effectively Las Vegas Sands Corp is utilizing its capital to generate profits for its shareholders. The company's recent improvement in this ratio demonstrates a positive shift towards better capital management and profitability.
Peer comparison
Dec 31, 2024