Las Vegas Sands Corp (LVS)
Interest coverage
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings before interest and tax (EBIT) (ttm) | US$ in thousands | 2,381,000 | 2,503,000 | 2,701,000 | 2,661,000 | 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 |
| Interest expense (ttm) | US$ in thousands | 727,000 | 737,000 | 758,000 | 782,000 | 818,000 | 829,000 | 812,000 | 764,000 | 702,000 | 653,000 | 627,000 | 623,000 | 621,000 | 616,000 | 593,000 | 549,000 | 523,000 | 404,000 | 407,000 | 436,000 |
| Interest coverage | 3.28 | 3.40 | 3.56 | 3.40 | 2.91 | 2.05 | 1.24 | 0.54 | 3.83 | 4.16 | 3.95 | 3.94 | -0.56 | -0.83 | -1.18 | -2.54 | -2.18 | -0.81 | 2.09 | 6.70 |
December 31, 2024 calculation
Interest coverage = EBIT (ttm) ÷ Interest expense (ttm)
= $2,381,000K ÷ $727,000K
= 3.28
Las Vegas Sands Corp's interest coverage ratio fluctuated significantly over the period indicated. The interest coverage ratio measures the company's ability to meet its interest payment obligations with its operating income.
The ratio was notably low in the second half of 2020 and continued to be negative until the end of March 2022. This suggests that the company was not generating enough operating income to cover its interest expenses during this period, which may indicate financial distress.
Starting from March 2022, the interest coverage ratio improved, consistently staying above 1. This indicates that the company's operating income has been sufficient to cover its interest expenses. The ratio showed a positive trend, reaching its peak at the end of September 2024.
Overall, the improving trend in the interest coverage ratio from March 2022 to December 2024 suggests that Las Vegas Sands Corp's financial health improved, as it managed to generate enough operating income to cover its interest payments efficiently.
Peer comparison
Dec 31, 2024