Analysis of Revenues
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Revenues as Reported
Las Vegas Sands Corp., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Macao | |||||||||||
| Singapore | |||||||||||
| United States | |||||||||||
| Net revenues |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
- Revenue Trends Overview
- The annual revenue data exhibits notable fluctuations across the years from 2018 to 2022. Overall, total net revenues experienced a substantial decline starting in 2020, followed by a partial recovery in the subsequent years.
- Geographic Revenue Analysis
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- Macao
- Revenues from Macao showed stability in 2018 and 2019, with figures around US$8.7 billion and US$8.8 billion respectively. However, a dramatic decrease occurred in 2020, with revenues plummeting to approximately US$1.68 billion. Thereafter, a partial rebound was observed in 2021, increasing to US$2.87 billion, but revenue fell again in 2022 to about US$1.6 billion, indicating ongoing volatility in this region.
- Singapore
- Revenues reported steady growth from 2018 to 2019, with values close to US$3.06 billion and US$3.1 billion, respectively. Thereafter, Singapore experienced a sharp decline in 2020 to US$1.26 billion, followed by a slight recovery to US$1.36 billion in 2021. The most recent data from 2022 show a significant increase to US$2.5 billion, indicating a strong rebound in this market segment.
- United States
- United States revenues decreased steadily from US$2.01 billion in 2018 to US$1.84 billion in 2019, then dropped sharply to US$672 million in 2020. The data for 2021 and 2022 are not provided, preventing analysis of subsequent trends in this region.
- Total Net Revenues
- Total net revenues remained stable between 2018 and 2019 at approximately US$13.7 billion. A severe decline is evident in 2020, with net revenues falling to US$3.61 billion, representing a reduction of nearly 74%. The following years show gradual recovery: US$4.23 billion in 2021 and US$4.11 billion in 2022, though revenues have not returned to pre-2020 levels.
- Concluding Observations
- The data reflect significant disruptions occurring around 2020 across all geographic segments, consistent with a global downturn impacting revenue generation. While Singapore has exhibited a relatively stronger recovery in 2022 compared to Macao, the United States segment's recent data is unavailable, limiting conclusions for that market. Overall, the recovery in total net revenues post-2020 remains incomplete, suggesting continuing operational or market challenges.