Las Vegas Sands income statement

In fiscal 2025, Las Vegas Sands reported revenue of $13.02bn, up 15.2% on the year before, operating income of $2.82bn (a 21.6% margin) and net income of $1.63bn, or $2.35 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Las Vegas Sands: income statement, 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
Revenue	4.6	6.9	9.4	11.1	13.8	14.6	11.7	11.3	12.7	13.7	12.1	2.9	4.2	4.1	10.4	11.3	13.0	13.6
Research and development	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.1	0.2	0.2	0.3	0.2
Selling, general and administrative	0.5	0.7	0.8	1.1	1.3	1.3	1.3	1.3	1.4	1.5	1.1	0.8	0.8	0.9	1.1	1.2	1.2	1.3
Operating income	−0.0	1.2	2.4	2.3	3.4	4.1	2.8	2.5	3.5	3.8	3.4	−1.4	−0.7	−0.8	2.3	2.4	2.8	2.8
Interest expense	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.3	0.4	0.4	0.5	0.6	0.7	0.8	0.7	0.7	0.8
Income before tax	−0.4	0.9	2.1	2.1	3.1	3.8	2.6	2.3	3.1	3.3	3.6	−1.9	−1.5	−1.4	1.8	2.0	2.2	2.2
Income tax	−0.0	0.1	0.2	0.2	0.2	0.2	0.2	0.2	−0.2	0.4	0.4	0.0	−0.0	0.2	0.3	0.2	0.3	0.4
Net income	−0.4	0.6	1.6	1.5	2.3	2.8	2.0	1.7	2.8	2.4	2.7	−1.7	−1.0	1.8	1.2	1.4	1.6	1.6
Diluted EPS	−$0.82	$0.51	$1.56	$1.85	$2.79	$3.52	$2.47	$2.11	$3.55	$3.07	$3.50	−$2.21	−$1.26	$2.40	$1.60	$1.96	$2.35	$2.44
Diluted shares (average)	657m	792m	812m	825m	826m	808m	798m	795m	792m	786m	771m	764m	764m	764m	765m	737m	693m	661m
EBITDA	0.6	1.9	3.2	3.2	4.4	5.1	3.8	3.6	4.6	4.9	4.4	−0.4	0.4	0.2	3.5	3.7	4.3	4.3

US$ millions unless shown otherwise. Fiscal quarters.

Las Vegas Sands: income statement, 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
Revenue	2,896	2,862	3,175	3,331	3,649	3,585	3,154	3,216
Research and development	59	69	69	72	59	41	43	37
Selling, general and administrative	303	273	292	308	315	302	331	333
Operating income	590	609	783	719	707	904	618	618
Interest expense	180	174	194	187	191	188	189	186
Income before tax	461	471	609	582	551	748	461	454
Income tax	69	63	90	91	103	107	88	102
Net income	324	352	461	419	395	567	346	304
Diluted EPS	$0.45	$0.49	$0.66	$0.61	$0.58	$0.85	$0.53	$0.48
EBITDA	938	971	1,154	1,087	1,070	1,261	968	958

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.