Las Vegas Sands Corp (LVS)

Debt-to-assets ratio

		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
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 assets	US$ in thousands	21,778,000	22,124,000	22,270,000	22,715,000	22,039,000	21,469,000	22,059,000	22,247,000	20,059,000	19,892,000	20,378,000	20,541,000	20,807,000	20,982,000	21,695,000	21,167,000	23,199,000	22,427,000	22,594,000	22,313,000
Debt-to-assets ratio		0.62	0.60	0.63	0.67	0.69	0.64	0.60	0.65	0.75	0.76	0.76	0.75	0.73	0.70	0.66	0.55	0.57	0.56	0.55	0.55

December 31, 2023 calculation

Debt-to-assets ratio = Long-term debt ÷ Total assets
= $13,526,000K ÷ $21,778,000K
= 0.62

Las Vegas Sands Corp's debt-to-assets ratio has exhibited a decreasing trend over the past eight quarters, falling from 0.72 in Q4 2022 to 0.64 in Q4 2023. This downward trajectory indicates that the company has been able to reduce its reliance on debt relative to its total assets. Despite some fluctuations between quarters, the general pattern suggests an improving financial position in terms of leverage. A debt-to-assets ratio below 1 indicates that the firm's assets exceed its debt obligations, which can be viewed favorably by investors and creditors. The consistent decline in the ratio over multiple quarters may signal effective debt management and a healthier balance sheet for Las Vegas Sands Corp.