Analysis of Long-term (Investment) Activity Ratios
Activity ratios measure how efficiently a company performs day-to-day tasks, such us the collection of receivables and management of inventory.
Long-term Activity Ratios (Summary)
Las Vegas Sands Corp., long-term (investment) activity ratios
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).
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Las Vegas Sands Corp. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Las Vegas Sands Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022. |
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Las Vegas Sands Corp. total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Las Vegas Sands Corp. equity turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |
Net Fixed Asset Turnover
Las Vegas Sands Corp., net fixed asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 4,110) | 4,234) | 3,612) | 13,739) | 13,729) | |
| Property and equipment, net | 11,451) | 11,850) | 15,109) | 14,844) | 15,154) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover1 | 0.36 | 0.36 | 0.24 | 0.93 | 0.91 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover, Competitors2 | ||||||
| Airbnb Inc. | 69.41 | 38.27 | 12.50 | — | — | |
| Booking Holdings Inc. | 25.55 | 13.33 | 8.99 | 20.41 | — | |
| Chipotle Mexican Grill Inc. | 4.43 | 4.27 | 3.78 | 3.83 | — | |
| McDonald’s Corp. | 0.92 | 0.94 | 0.77 | 0.87 | — | |
| Starbucks Corp. | 4.92 | 4.56 | 3.77 | 4.12 | 4.17 | |
| Net Fixed Asset Turnover, Sector | ||||||
| Consumer Services | 2.59 | 2.27 | 1.74 | 2.08 | — | |
| Net Fixed Asset Turnover, Industry | ||||||
| Consumer Discretionary | 3.47 | 3.31 | 3.37 | 3.71 | — | |
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).
1 2022 Calculation
Net fixed asset turnover = Net revenues ÷ Property and equipment, net
= 4,110 ÷ 11,451 = 0.36
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover | An activity ratio calculated as total revenue divided by net fixed assets. | Las Vegas Sands Corp. net fixed asset turnover ratio improved from 2020 to 2021 and from 2021 to 2022. |
Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset)
Las Vegas Sands Corp., net fixed asset turnover (including operating lease, right-of-use asset) calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 4,110) | 4,234) | 3,612) | 13,739) | 13,729) | |
| Property and equipment, net | 11,451) | 11,850) | 15,109) | 14,844) | 15,154) | |
| Operating lease ROU assets (included in Other assets, net) | 23) | 24) | 178) | 190) | —) | |
| Property and equipment, net (including operating lease, right-of-use asset) | 11,474) | 11,874) | 15,287) | 15,034) | 15,154) | |
| Long-term Activity Ratio | ||||||
| Net fixed asset turnover (including operating lease, right-of-use asset)1 | 0.36 | 0.36 | 0.24 | 0.91 | 0.91 | |
| Benchmarks | ||||||
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Competitors2 | ||||||
| Airbnb Inc. | 32.43 | 13.98 | 5.16 | — | — | |
| Booking Holdings Inc. | 13.01 | 8.31 | 5.29 | 11.09 | — | |
| Chipotle Mexican Grill Inc. | 1.64 | 1.54 | 1.38 | 1.41 | — | |
| McDonald’s Corp. | 0.64 | 0.61 | 0.50 | 0.56 | — | |
| Starbucks Corp. | 2.21 | 1.99 | 1.64 | 4.12 | 4.17 | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Sector | ||||||
| Consumer Services | 1.55 | 1.29 | 0.99 | 1.39 | — | |
| Net Fixed Asset Turnover (including Operating Lease, Right-of-Use Asset), Industry | ||||||
| Consumer Discretionary | 2.66 | 2.51 | 2.57 | 3.13 | — | |
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).
1 2022 Calculation
Net fixed asset turnover (including operating lease, right-of-use asset) = Net revenues ÷ Property and equipment, net (including operating lease, right-of-use asset)
= 4,110 ÷ 11,474 = 0.36
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Net fixed asset turnover (including operating lease, right-of-use asset) | An activity ratio calculated as total revenue divided by net fixed assets (including operating lease, right-of-use asset). | Las Vegas Sands Corp. net fixed asset turnover ratio (with operating lease, right-of-use asset) improved from 2020 to 2021 and from 2021 to 2022. |
Total Asset Turnover
Las Vegas Sands Corp., total asset turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 4,110) | 4,234) | 3,612) | 13,739) | 13,729) | |
| Total assets | 22,039) | 20,059) | 20,807) | 23,199) | 22,547) | |
| Long-term Activity Ratio | ||||||
| Total asset turnover1 | 0.19 | 0.21 | 0.17 | 0.59 | 0.61 | |
| Benchmarks | ||||||
| Total Asset Turnover, Competitors2 | ||||||
| Airbnb Inc. | 0.52 | 0.44 | 0.32 | — | — | |
| Booking Holdings Inc. | 0.67 | 0.46 | 0.31 | 0.70 | — | |
| Chipotle Mexican Grill Inc. | 1.25 | 1.13 | 1.00 | 1.09 | — | |
| McDonald’s Corp. | 0.46 | 0.43 | 0.36 | 0.44 | — | |
| Starbucks Corp. | 1.15 | 0.93 | 0.80 | 1.38 | 1.02 | |
| Total Asset Turnover, Sector | ||||||
| Consumer Services | 0.71 | 0.59 | 0.49 | 0.73 | — | |
| Total Asset Turnover, Industry | ||||||
| Consumer Discretionary | 0.96 | 0.88 | 0.84 | 0.94 | — | |
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).
1 2022 Calculation
Total asset turnover = Net revenues ÷ Total assets
= 4,110 ÷ 22,039 = 0.19
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Total asset turnover | An activity ratio calculated as total revenue divided by total assets. | Las Vegas Sands Corp. total asset turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level. |
Equity Turnover
Las Vegas Sands Corp., equity turnover calculation, comparison to benchmarks
| Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | ||||||
| Net revenues | 4,110) | 4,234) | 3,612) | 13,739) | 13,729) | |
| Total Las Vegas Sands Corp. stockholders’ equity | 3,881) | 1,996) | 2,973) | 5,187) | 5,684) | |
| Long-term Activity Ratio | ||||||
| Equity turnover1 | 1.06 | 2.12 | 1.21 | 2.65 | 2.42 | |
| Benchmarks | ||||||
| Equity Turnover, Competitors2 | ||||||
| Airbnb Inc. | 1.51 | 1.25 | 1.16 | — | — | |
| Booking Holdings Inc. | 6.14 | 1.77 | 1.39 | 2.54 | — | |
| Chipotle Mexican Grill Inc. | 3.65 | 3.29 | 2.96 | 3.32 | — | |
| McDonald’s Corp. | — | — | — | — | — | |
| Starbucks Corp. | — | — | — | — | 21.14 | |
| Equity Turnover, Sector | ||||||
| Consumer Services | — | 23.06 | — | — | — | |
| Equity Turnover, Industry | ||||||
| Consumer Discretionary | 4.21 | 3.74 | 4.82 | 5.84 | — | |
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).
1 2022 Calculation
Equity turnover = Net revenues ÷ Total Las Vegas Sands Corp. stockholders’ equity
= 4,110 ÷ 3,881 = 1.06
2 Click competitor name to see calculations.
| Long-term activity ratio | Description | The company |
|---|---|---|
| Equity turnover | An activity ratio calculated as total revenue divided by shareholders’ equity. | Las Vegas Sands Corp. equity turnover ratio improved from 2020 to 2021 but then deteriorated significantly from 2021 to 2022. |