Las Vegas Sands balance sheet

At the end of fiscal 2025, Las Vegas Sands had total assets of $21.92bn, total liabilities of $19.99bn and shareholders' equity of $1.59bn. It held $3.84bn in cash against $15.78bn of debt: net debt of $11.94bn.

Balance sheet

US$ billions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Las Vegas Sands: balance sheet, annual
Fiscal year	2009Dec 2009	2010Dec 2010	2011Dec 2011	2012Dec 2012	2013Dec 2013	2014Dec 2014	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	5.0	3.0	3.9	2.5	3.6	3.5	2.2	2.1	2.4	4.6	4.2	2.1	1.9	6.3	5.1	3.7	3.8	2.9
Receivables	0.5	0.7	1.3	1.8	1.8	1.5	1.3	0.8	0.6	0.7	0.8	0.3	0.2	0.3	0.5	0.4	0.7	0.7
Inventory	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total current assets	5.6	4.1	5.4	4.5	5.5	5.2	3.6	3.1	3.2	5.6	5.3	5.7	5.5	6.7	5.8	4.3	4.8	3.8
Goodwill	—	—	—	—	—	—	—	—	—	—	—	—	—	0.0	0.1	0.1	0.1	—
Total assets	20.6	21.0	22.2	22.2	22.7	22.2	20.9	20.5	20.7	22.5	23.2	20.8	20.1	22.0	21.8	20.7	21.9	19.4
Accounts payable	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2	0.1	0.1	0.1	0.1	0.2	0.2	0.2	0.1
Total current liabilities	1.8	2.6	2.5	2.6	3.1	2.7	2.5	2.8	3.0	3.2	3.2	2.8	2.6	3.9	4.4	5.8	4.2	4.6
Long-term debt	10.9	9.4	10.0	10.1	9.4	9.9	9.2	9.4	9.3	11.9	12.4	13.9	14.7	13.9	12.1	10.6	14.7	13.9
Total debt	11.0	10.1	10.0	10.2	9.8	10.0	9.5	9.7	9.7	12.1	12.6	14.1	14.9	16.1	14.1	13.8	15.8	15.4
Total liabilities	13.2	12.6	12.8	13.5	13.2	13.3	12.4	13.0	13.1	15.8	16.7	17.3	17.8	18.4	17.7	17.5	20.0	19.5
Shareholders' equity	5.9	6.7	7.9	7.1	7.7	7.2	6.8	6.2	6.5	5.7	5.2	3.0	2.0	3.9	4.1	2.9	1.6	−0.3
Non-controlling interests and other (assets − liabilities − equity)	1.5	1.8	1.6	1.6	1.8	1.7	1.6	1.3	1.1	1.1	1.3	0.6	—	—	—	—	—	—
Net debt (negative = net cash)	6.1	7.1	6.1	7.7	6.2	6.5	7.3	7.6	7.3	7.4	8.4	12.0	13.1	9.7	9.0	10.1	11.9	12.6
Shares outstanding	660m	708m	733m	824m	819m	798m	795m	795m	789m	775m	764m	764m	764m	764m	753m	716m	675m	627m

US$ billions unless shown otherwise. Fiscal quarters.

Las Vegas Sands: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Receivables	0.4	0.4	0.5	0.5	0.7	0.7	0.6	0.7
Inventory	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Total current assets	4.3	3.7	4.3	4.2	4.8	4.3	4.3	3.8
Goodwill	0.1	0.1	0.1	0.1	0.1	—	—	—
Total assets	20.7	21.2	21.9	21.5	21.9	21.2	19.9	19.4
Accounts payable	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1
Total current liabilities	5.8	6.3	3.5	4.7	4.2	4.6	4.3	4.6
Long-term debt	10.6	10.9	14.9	13.9	14.7	13.9	13.7	13.9
Total debt	10.6	10.9	14.9	13.9	14.7	13.9	13.7	13.9
Total liabilities	17.5	18.2	19.6	19.6	20.0	19.6	19.0	19.5
Shareholders' equity	2.9	2.7	2.0	1.6	1.6	1.2	0.6	−0.3
Shares outstanding	716m	707m	687m	678m	675m	663m	648m	627m

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Las Vegas Sands's SEC filings (10-K and 10-Q), retrieved October 24, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Las Vegas Sands.