Las Vegas Sands Corp (LVS)

Financial leverage ratio

		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
Total assets	US$ in thousands	20,666,000	21,354,000	21,113,000	21,245,000	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
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
Financial leverage ratio		7.17	6.23	5.62	5.37	5.29	4.86	5.14	5.60	5.68	5.50	5.26	4.91	10.05	9.46	8.18	7.68	7.00	6.56	5.83	4.72

December 31, 2024 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $20,666,000K ÷ $2,884,000K
= 7.17

Las Vegas Sands Corp's financial leverage ratio has exhibited fluctuations over the period from March 31, 2020, to December 31, 2024. The financial leverage ratio represents the extent to which the company relies on debt to fund its operations and growth.

Starting at 4.72 on March 31, 2020, the ratio increased steadily, reaching a peak of 10.05 on December 31, 2021. This indicates that the company's debt levels were rising relative to its equity during this period. Subsequently, the ratio decreased to 4.86 on September 30, 2023, before rising again to 7.17 on December 31, 2024.

The fluctuations in the financial leverage ratio suggest that Las Vegas Sands Corp's capital structure was evolving over this period, with varying levels of debt financing compared to equity. Investors and stakeholders should closely monitor these changes to assess the company's risk profile and financial stability.