Las Vegas Sands Corp (LVS)
Debt-to-equity ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 13,526,000 | 15,140,000 | 15,060,000 | 15,150,000 | 13,210,000 |
| Total stockholders’ equity | US$ in thousands | 4,118,000 | 3,881,000 | 1,996,000 | 2,973,000 | 5,187,000 |
| Debt-to-equity ratio | 3.28 | 3.90 | 7.55 | 5.10 | 2.55 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $13,526,000K ÷ $4,118,000K
= 3.28
The debt-to-equity ratio of Las Vegas Sands Corp has fluctuated over the past five years. As of December 31, 2023, the ratio stands at 3.41, indicating that the company has $3.41 in debt for every $1 of equity. This represents a decrease from the previous year where the ratio was 4.12.
Comparing these figures to earlier years, we observe a downward trend from 7.41 in 2021, 4.71 in 2020, and 2.41 in 2019. The decreasing trend suggests that the company has been reducing its reliance on debt financing in favor of equity financing.
A lower debt-to-equity ratio generally indicates a lower financial risk as the company has less debt in relation to its equity. However, it's important to consider the industry norms and the company's specific circumstances when evaluating the significance of this ratio. Overall, the decreasing trend in the debt-to-equity ratio for Las Vegas Sands Corp reflects a positive shift towards a more balanced capital structure.
Peer comparison
Dec 31, 2023