LAS VEGAS SANDS CORP (LVS) closed fiscal year 2025 with a gross margin of 49.8 % and a net margin of 12.5 %.
LAS VEGAS SANDS CORP (LVS) closed fiscal year 2025 with a gross margin of 49.8 % and a net margin of 12.5 %. The same year shows an EBITDA margin of 32.9 % and an EBIT margin of 21.6 %. The free cash flow margin was 14.3 %. Against the previous year the gross margin moved +0.9 pp and the net margin −0.3 pp. Across the period the gross margin ranges between 40.1 % in 2022 and 49.8 % in 2023. The series covers 18 fiscal years, from 2008 to 2025. Margins are expressed as a percentage of net revenue and are derived from the same figures as the income statement, taken from as-reported SEC EDGAR filings, with no restatements or adjustments of our own.
Fiscal year end: December
| 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin (%) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 40.15 % | 49.82 % | 48.87 % | 49.79 % |
| EBITDA margin (%) | 15.28 % | 12.21 % | 27.37 % | 33.84 % | 28.78 % | 32.07 % | 35.18 % | 32.85 % | 32.06 % | 36.42 % | 35.41 % | 36.16 % | -13.47 % | 8.31 % | 5.94 % | 33.95 % | 32.84 % | 32.90 % |
| EBIT margin (%) | 3.73 % | -0.63 % | 17.23 % | 25.40 % | 20.77 % | 24.75 % | 28.11 % | 24.31 % | 22.20 % | 27.22 % | 27.32 % | 27.75 % | -47.38 % | -16.27 % | -19.27 % | 22.30 % | 21.26 % | 21.65 % |
| Net margin (%) | -3.73 % | -7.77 % | 8.75 % | 16.58 % | 13.69 % | 16.75 % | 19.48 % | 16.82 % | 14.90 % | 22.06 % | 17.58 % | 22.25 % | -57.31 % | -22.70 % | 44.57 % | 11.77 % | 12.80 % | 12.50 % |
| FCF margin (%) | -83.47 % | -31.87 % | -2.24 % | 12.26 % | 14.45 % | 25.72 % | 25.05 % | 16.51 % | 23.48 % | 29.12 % | 27.33 % | 16.66 % | -86.36 % | -25.30 % | -38.81 % | 21.31 % | 14.49 % | 14.25 % |
