Las Vegas Sands Corp (LVS)
Return on total capital
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 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 | 3,579,000 | 3,643,000 | 3,671,000 | 3,068,000 |
| Long-term debt | US$ in thousands | 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 | 13,210,000 | 12,600,000 | 12,420,000 | 12,200,000 |
| Total stockholders’ equity | US$ in thousands | 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 | 5,187,000 | 5,359,000 | 5,560,000 | 5,525,000 |
| Return on total capital | 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% | 19.45% | 20.29% | 20.42% | 17.31% |
December 31, 2023 calculation
Return on total capital = EBIT (ttm) ÷ (Long-term debt + Total stockholders’ equity)
= $2,383,000K ÷ ($13,526,000K + $4,118,000K)
= 13.51%
Las Vegas Sands Corp's return on total capital has shown a mixed performance over the past eight quarters. In Q4 2023, the return on total capital was 12.89%, indicating a solid improvement compared to previous quarters. This increase suggests that the company is generating a higher return relative to the total capital employed.
In Q3 2023, the return on total capital was 7.71%, exhibiting a positive trend compared to the previous quarters. However, this figure declined in Q2 2023 to 3.08%, indicating a slowdown in the company's ability to generate returns on its total capital.
In Q1 2023, Las Vegas Sands Corp experienced a negative return on total capital of -0.47%, which may raise concerns about the company's efficiency in utilizing its capital resources. The negative returns observed in Q4 2022, Q3 2022, Q2 2022, and Q1 2022 further underline challenges faced by the company in generating satisfactory returns on its total capital during these periods.
Overall, while there are signs of improvement in the latest quarter, Las Vegas Sands Corp needs to focus on consistently generating positive returns on its total capital to enhance its overall financial performance and sustainability.
Peer comparison
Dec 31, 2023