Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Las Vegas Sands Corp., solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Las Vegas Sands Corp. debt to equity ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Las Vegas Sands Corp. debt to capital ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Las Vegas Sands Corp. debt to assets ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Las Vegas Sands Corp. financial leverage ratio decreased from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Las Vegas Sands Corp. interest coverage ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Equity
Las Vegas Sands Corp., debt to equity calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current maturities of long-term debt | 1,818) | 71) | 2,018) | 2,031) | 1,514) | 73) | 72) | 74) | 73) | 75) | 72) | 76) | 72) | 71) | 69) | 70) | 66) | 116) | 111) | 111) | 111) | 184) | 144) | |||||||
| Long-term debt, excluding current maturities | 12,576) | 14,849) | 13,971) | 13,947) | 13,779) | 15,306) | 14,905) | 14,721) | 14,462) | 14,375) | 14,374) | 13,931) | 13,840) | 13,767) | 12,253) | 12,422) | 11,877) | 11,909) | 11,888) | 11,874) | 11,869) | 11,139) | 9,508) | |||||||
| Total debt | 14,394) | 14,920) | 15,989) | 15,978) | 15,293) | 15,379) | 14,977) | 14,795) | 14,535) | 14,450) | 14,446) | 14,007) | 13,912) | 13,838) | 12,322) | 12,492) | 11,943) | 12,025) | 11,999) | 11,985) | 11,980) | 11,323) | 9,652) | |||||||
| Total Las Vegas Sands Corp. stockholders’ equity | 4,553) | 4,330) | 4,056) | 3,881) | 3,900) | 4,191) | 4,529) | 1,996) | 2,102) | 2,491) | 2,673) | 2,973) | 3,199) | 3,720) | 4,489) | 5,187) | 5,359) | 5,560) | 5,525) | 5,684) | 6,862) | 7,158) | 7,363) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to equity1 | 3.16 | 3.45 | 3.94 | 4.12 | 3.92 | 3.67 | 3.31 | 7.41 | 6.91 | 5.80 | 5.40 | 4.71 | 4.35 | 3.72 | 2.74 | 2.41 | 2.23 | 2.16 | 2.17 | 2.11 | 1.75 | 1.58 | 1.31 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||||||
| Airbnb Inc. | 0.22 | 0.39 | 0.38 | 0.36 | 0.36 | 0.38 | 0.42 | 0.42 | 0.45 | 0.58 | 0.63 | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | — | — | 11.29 | 4.49 | 2.50 | 2.37 | 2.23 | 1.77 | 1.99 | 2.54 | 2.90 | 2.46 | 2.40 | 2.90 | 2.23 | 1.45 | 1.43 | 1.63 | 1.24 | — | — | — | — | |||||||
| Chipotle Mexican Grill Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | |||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 8.07 | 1.70 | 1.39 | 0.85 | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q3 2023 Calculation
Debt to equity = Total debt ÷ Total Las Vegas Sands Corp. stockholders’ equity
= 14,394 ÷ 4,553 = 3.16
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to equity ratio | A solvency ratio calculated as total debt divided by total shareholders’ equity. | Las Vegas Sands Corp. debt to equity ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Capital
Las Vegas Sands Corp., debt to capital calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current maturities of long-term debt | 1,818) | 71) | 2,018) | 2,031) | 1,514) | 73) | 72) | 74) | 73) | 75) | 72) | 76) | 72) | 71) | 69) | 70) | 66) | 116) | 111) | 111) | 111) | 184) | 144) | |||||||
| Long-term debt, excluding current maturities | 12,576) | 14,849) | 13,971) | 13,947) | 13,779) | 15,306) | 14,905) | 14,721) | 14,462) | 14,375) | 14,374) | 13,931) | 13,840) | 13,767) | 12,253) | 12,422) | 11,877) | 11,909) | 11,888) | 11,874) | 11,869) | 11,139) | 9,508) | |||||||
| Total debt | 14,394) | 14,920) | 15,989) | 15,978) | 15,293) | 15,379) | 14,977) | 14,795) | 14,535) | 14,450) | 14,446) | 14,007) | 13,912) | 13,838) | 12,322) | 12,492) | 11,943) | 12,025) | 11,999) | 11,985) | 11,980) | 11,323) | 9,652) | |||||||
| Total Las Vegas Sands Corp. stockholders’ equity | 4,553) | 4,330) | 4,056) | 3,881) | 3,900) | 4,191) | 4,529) | 1,996) | 2,102) | 2,491) | 2,673) | 2,973) | 3,199) | 3,720) | 4,489) | 5,187) | 5,359) | 5,560) | 5,525) | 5,684) | 6,862) | 7,158) | 7,363) | |||||||
| Total capital | 18,947) | 19,250) | 20,045) | 19,859) | 19,193) | 19,570) | 19,506) | 16,791) | 16,637) | 16,941) | 17,119) | 16,980) | 17,111) | 17,558) | 16,811) | 17,679) | 17,302) | 17,585) | 17,524) | 17,669) | 18,842) | 18,481) | 17,015) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to capital1 | 0.76 | 0.78 | 0.80 | 0.80 | 0.80 | 0.79 | 0.77 | 0.88 | 0.87 | 0.85 | 0.84 | 0.82 | 0.81 | 0.79 | 0.73 | 0.71 | 0.69 | 0.68 | 0.68 | 0.68 | 0.64 | 0.61 | 0.57 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||||||
| Airbnb Inc. | 0.18 | 0.28 | 0.27 | 0.26 | 0.26 | 0.27 | 0.30 | 0.29 | 0.31 | 0.37 | 0.39 | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 1.05 | 1.05 | 0.92 | 0.82 | 0.71 | 0.70 | 0.69 | 0.64 | 0.67 | 0.72 | 0.74 | 0.71 | 0.71 | 0.74 | 0.69 | 0.59 | 0.59 | 0.62 | 0.55 | — | — | — | — | |||||||
| Chipotle Mexican Grill Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | |||||||
| McDonald’s Corp. | 1.15 | 1.16 | 1.18 | 1.20 | 1.23 | 1.23 | 1.21 | 1.15 | 1.19 | 1.20 | 1.25 | 1.26 | 1.29 | 1.32 | 1.31 | 1.32 | 1.35 | 1.26 | 1.25 | — | — | — | — | |||||||
| Starbucks Corp. | 2.18 | 2.22 | 2.39 | 2.37 | 2.34 | 2.21 | 2.34 | 1.57 | 1.87 | 2.09 | 1.99 | 1.91 | 2.05 | 2.16 | 2.38 | 2.26 | 1.63 | 2.21 | 1.46 | 0.89 | 0.63 | 0.58 | 0.46 | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q3 2023 Calculation
Debt to capital = Total debt ÷ Total capital
= 14,394 ÷ 18,947 = 0.76
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to capital ratio | A solvency ratio calculated as total debt divided by total debt plus shareholders’ equity. | Las Vegas Sands Corp. debt to capital ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Debt to Assets
Las Vegas Sands Corp., debt to assets calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Current maturities of long-term debt | 1,818) | 71) | 2,018) | 2,031) | 1,514) | 73) | 72) | 74) | 73) | 75) | 72) | 76) | 72) | 71) | 69) | 70) | 66) | 116) | 111) | 111) | 111) | 184) | 144) | |||||||
| Long-term debt, excluding current maturities | 12,576) | 14,849) | 13,971) | 13,947) | 13,779) | 15,306) | 14,905) | 14,721) | 14,462) | 14,375) | 14,374) | 13,931) | 13,840) | 13,767) | 12,253) | 12,422) | 11,877) | 11,909) | 11,888) | 11,874) | 11,869) | 11,139) | 9,508) | |||||||
| Total debt | 14,394) | 14,920) | 15,989) | 15,978) | 15,293) | 15,379) | 14,977) | 14,795) | 14,535) | 14,450) | 14,446) | 14,007) | 13,912) | 13,838) | 12,322) | 12,492) | 11,943) | 12,025) | 11,999) | 11,985) | 11,980) | 11,323) | 9,652) | |||||||
| Total assets | 22,124) | 22,270) | 22,715) | 22,039) | 21,469) | 22,059) | 22,247) | 20,059) | 19,892) | 20,378) | 20,541) | 20,807) | 20,982) | 21,695) | 21,167) | 23,199) | 22,427) | 22,594) | 22,313) | 22,547) | 23,339) | 22,855) | 21,504) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Debt to assets1 | 0.65 | 0.67 | 0.70 | 0.72 | 0.71 | 0.70 | 0.67 | 0.74 | 0.73 | 0.71 | 0.70 | 0.67 | 0.66 | 0.64 | 0.58 | 0.54 | 0.53 | 0.53 | 0.54 | 0.53 | 0.51 | 0.50 | 0.45 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||||||
| Airbnb Inc. | 0.09 | 0.09 | 0.10 | 0.12 | 0.12 | 0.10 | 0.12 | 0.14 | 0.15 | 0.13 | 0.16 | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 0.54 | 0.53 | 0.48 | 0.49 | 0.42 | 0.39 | 0.44 | 0.46 | 0.47 | 0.51 | 0.58 | 0.55 | 0.53 | 0.55 | 0.48 | 0.40 | 0.40 | 0.40 | 0.38 | — | — | — | — | |||||||
| Chipotle Mexican Grill Inc. | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | |||||||
| McDonald’s Corp. | 0.72 | 0.71 | 0.71 | 0.71 | 0.72 | 0.70 | 0.67 | 0.66 | 0.67 | 0.68 | 0.70 | 0.71 | 0.75 | 0.78 | 0.77 | 0.72 | 0.72 | 0.71 | 0.71 | — | — | — | — | |||||||
| Starbucks Corp. | 0.54 | 0.54 | 0.53 | 0.54 | 0.54 | 0.55 | 0.51 | 0.47 | 0.50 | 0.52 | 0.53 | 0.56 | 0.58 | 0.51 | 0.42 | 0.58 | 0.53 | 0.52 | 0.46 | 0.39 | 0.40 | 0.37 | 0.27 | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q3 2023 Calculation
Debt to assets = Total debt ÷ Total assets
= 14,394 ÷ 22,124 = 0.65
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Debt to assets ratio | A solvency ratio calculated as total debt divided by total assets. | Las Vegas Sands Corp. debt to assets ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Financial Leverage
Las Vegas Sands Corp., financial leverage calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Total assets | 22,124) | 22,270) | 22,715) | 22,039) | 21,469) | 22,059) | 22,247) | 20,059) | 19,892) | 20,378) | 20,541) | 20,807) | 20,982) | 21,695) | 21,167) | 23,199) | 22,427) | 22,594) | 22,313) | 22,547) | 23,339) | 22,855) | 21,504) | |||||||
| Total Las Vegas Sands Corp. stockholders’ equity | 4,553) | 4,330) | 4,056) | 3,881) | 3,900) | 4,191) | 4,529) | 1,996) | 2,102) | 2,491) | 2,673) | 2,973) | 3,199) | 3,720) | 4,489) | 5,187) | 5,359) | 5,560) | 5,525) | 5,684) | 6,862) | 7,158) | 7,363) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Financial leverage1 | 4.86 | 5.14 | 5.60 | 5.68 | 5.50 | 5.26 | 4.91 | 10.05 | 9.46 | 8.18 | 7.68 | 7.00 | 6.56 | 5.83 | 4.72 | 4.47 | 4.18 | 4.06 | 4.04 | 3.97 | 3.40 | 3.19 | 2.92 | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||||||
| Airbnb Inc. | 2.35 | 4.19 | 3.78 | 2.88 | 2.90 | 3.63 | 3.60 | 2.87 | 3.05 | 4.56 | 3.91 | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | — | — | 23.47 | 9.12 | 6.01 | 6.12 | 5.12 | 3.83 | 4.21 | 4.98 | 4.97 | 4.47 | 4.51 | 5.23 | 4.66 | 3.61 | 3.60 | 4.05 | 3.23 | — | — | — | — | |||||||
| Chipotle Mexican Grill Inc. | 2.74 | 2.73 | 2.84 | 2.93 | 2.93 | 3.04 | 3.03 | 2.90 | 2.87 | 2.91 | 2.93 | 2.96 | 3.12 | 3.15 | 3.11 | 3.03 | 3.04 | 3.03 | 3.12 | — | — | — | — | |||||||
| McDonald’s Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Starbucks Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 20.66 | 4.31 | 3.73 | 3.22 | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q3 2023 Calculation
Financial leverage = Total assets ÷ Total Las Vegas Sands Corp. stockholders’ equity
= 22,124 ÷ 4,553 = 4.86
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Financial leverage ratio | A solvency ratio calculated as total assets divided by total shareholders’ equity. | Las Vegas Sands Corp. financial leverage ratio decreased from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |
Interest Coverage
Las Vegas Sands Corp., interest coverage calculation (quarterly data)
| 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 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | Dec 31, 2018 | Sep 30, 2018 | Jun 30, 2018 | Mar 31, 2018 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||||||||||||||||||||||||||
| Net income (loss) attributable to Las Vegas Sands Corp. | 380) | 312) | 147) | (169) | (239) | (290) | 2,530) | (123) | (368) | (192) | (278) | (299) | (565) | (820) | (1) | 629) | 533) | 954) | 582) | (170) | 571) | 556) | 1,456) | |||||||
| Add: Net income attributable to noncontrolling interest | 69) | 56) | (2) | (105) | (142) | (127) | (101) | (74) | (127) | (50) | (64) | (77) | (166) | (165) | (50) | 154) | 136) | 154) | 162) | 130) | 128) | 120) | 160) | |||||||
| Less: Income (loss) from discontinued operations, net of tax | —) | —) | —) | (5) | (1) | (3) | 2,907) | 118) | 99) | 38) | (62) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | —) | |||||||
| Add: Income tax expense | 122) | 49) | 50) | (18) | 60) | 110) | 2) | 14) | (27) | (6) | 14) | 8) | (17) | (54) | 25) | 65) | 82) | 236) | 85) | 782) | 83) | 81) | (571) | |||||||
| Add: Interest expense, net of amounts capitalized | 200) | 210) | 218) | 201) | 183) | 162) | 156) | 152) | 157) | 158) | 154) | 150) | 137) | 118) | 131) | 134) | 137) | 143) | 141) | 138) | 126) | 93) | 89) | |||||||
| Earnings before interest and tax (EBIT) | 771) | 627) | 413) | (86) | (137) | (142) | (320) | (149) | (464) | (128) | (112) | (218) | (611) | (921) | 105) | 982) | 888) | 1,487) | 970) | 880) | 908) | 850) | 1,134) | |||||||
| Solvency Ratio | ||||||||||||||||||||||||||||||
| Interest coverage1 | 2.08 | 1.01 | 0.06 | -0.98 | -1.15 | -1.71 | -1.70 | -1.37 | -1.49 | -1.78 | -3.33 | -3.07 | -0.86 | 2.03 | 6.35 | 7.80 | 7.56 | 7.75 | 7.24 | 8.46 | — | — | — | |||||||
| Benchmarks | ||||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | ||||||||||||||||||||||||||||||
| Airbnb Inc. | 166.72 | 145.45 | 96.66 | 83.88 | 81.06 | 58.89 | 40.98 | 0.31 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | |||||||
| Booking Holdings Inc. | 8.82 | 9.14 | 10.82 | 11.03 | 11.24 | 7.95 | 3.94 | 5.39 | 3.50 | 3.03 | 3.59 | 2.59 | 6.44 | 12.20 | 17.17 | 23.40 | — | — | — | — | — | — | — | |||||||
| McDonald’s Corp. | 8.82 | 8.73 | 7.84 | 7.48 | 7.44 | 7.64 | 8.43 | 8.70 | 8.38 | 7.89 | 6.37 | 6.04 | 6.32 | 6.39 | 7.77 | 8.15 | — | — | — | — | — | — | — | |||||||
| Starbucks Corp. | 10.22 | 10.01 | 9.66 | 9.76 | 12.25 | 12.95 | 13.08 | 12.40 | 8.49 | 3.76 | 2.78 | 3.66 | 5.23 | 12.29 | 14.35 | 14.49 | 15.69 | 15.50 | 18.04 | 34.94 | — | — | — | |||||||
Based on: 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
1 Q3 2023 Calculation
Interest coverage
= (EBITQ3 2023
+ EBITQ2 2023
+ EBITQ1 2023
+ EBITQ4 2022)
÷ (Interest expenseQ3 2023
+ Interest expenseQ2 2023
+ Interest expenseQ1 2023
+ Interest expenseQ4 2022)
= (771 + 627 + 413 + -86)
÷ (200 + 210 + 218 + 201)
= 2.08
2 Click competitor name to see calculations.
| Solvency ratio | Description | The company |
|---|---|---|
| Interest coverage ratio | A solvency ratio calculated as EBIT divided by interest payments. | Las Vegas Sands Corp. interest coverage ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023. |