Las Vegas Sands Corp (LVS)
Debt-to-equity 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 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 |
| Debt-to-equity ratio | 3.28 | 2.92 | 3.21 | 3.76 | 3.90 | 3.53 | 3.18 | 3.17 | 7.55 | 7.18 | 6.22 | 5.75 | 5.10 | 4.58 | 3.87 | 2.60 | 2.55 | 2.35 | 2.23 | 2.21 |
December 31, 2023 calculation
Debt-to-equity ratio = Long-term debt ÷ Total stockholders’ equity
= $13,526,000K ÷ $4,118,000K
= 3.28
Las Vegas Sands Corp's debt-to-equity ratio has exhibited fluctuations over the past eight quarters. The ratio decreased from 4.12 in Q4 2022 to 3.41 in Q4 2023, indicating a reduction in leverage. However, the ratio increased in Q1 2023 to 3.94 before declining in Q2 2023 to 3.45 and then further decreasing to 3.16 in Q3 2023. The company's debt-to-equity ratio remained above 3 consistently throughout the periods analyzed, suggesting a relatively high level of debt compared to equity. Overall, while there have been fluctuations in the ratio, it is essential for stakeholders to monitor the trend to assess the company's financial leverage and risk management.
Peer comparison
Dec 31, 2023