Stock Analysis on Net

Las Vegas Sands Corp. (NYSE:LVS)

This company has been moved to the archive! The financial data has not been updated since October 20, 2023.

Analysis of Short-term (Operating) Activity Ratios 

Microsoft Excel

Short-term Activity Ratios (Summary)

Las Vegas Sands Corp., short-term (operating) activity ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Turnover Ratios
Inventory turnover 87.86 119.36 81.50 184.65 199.26
Receivables turnover 15.39 20.96 10.69 16.28 18.91
Payables turnover 27.64 34.10 26.61 45.85 39.18
Working capital turnover 1.45 1.44 10.78 6.60 5.70
Average No. Days
Average inventory processing period 4 3 4 2 2
Add: Average receivable collection period 24 17 34 22 19
Operating cycle 28 20 38 24 21
Less: Average payables payment period 13 11 14 8 9
Cash conversion cycle 15 9 24 16 12

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).

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Las Vegas Sands Corp. inventory turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Receivables turnover An activity ratio equal to revenue divided by receivables. Las Vegas Sands Corp. receivables turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Las Vegas Sands Corp. payables turnover ratio increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Las Vegas Sands Corp. working capital turnover ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Las Vegas Sands Corp. number of days of receivables outstanding improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Las Vegas Sands Corp. operating cycle improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Las Vegas Sands Corp. number of days of payables outstanding decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level.
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Las Vegas Sands Corp. cash conversion cycle improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Inventory Turnover

Las Vegas Sands Corp., inventory turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Cost of revenues 2,460 2,626 2,608 6,832 6,974
Inventories 28 22 32 37 35
Short-term Activity Ratio
Inventory turnover1 87.86 119.36 81.50 184.65 199.26
Benchmarks
Inventory Turnover, Competitors2
Chipotle Mexican Grill Inc. 184.27 177.91 186.94 170.29
McDonald’s Corp. 141.94 144.74 136.62 154.59
Starbucks Corp. 10.97 12.89 11.90 12.44 12.40
Inventory Turnover, Sector
Consumer Services 24.92 27.58 23.36 28.83
Inventory Turnover, Industry
Consumer Discretionary 6.67 7.04 7.48 7.72

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
Inventory turnover = Cost of revenues ÷ Inventories
= 2,460 ÷ 28 = 87.86

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Inventory turnover An activity ratio calculated as cost of goods sold divided by inventory. Las Vegas Sands Corp. inventory turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Receivables Turnover

Las Vegas Sands Corp., receivables turnover calculation, comparison to benchmarks

Microsoft Excel
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
Accounts receivable, net of provision for credit losses 267 202 338 844 726
Short-term Activity Ratio
Receivables turnover1 15.39 20.96 10.69 16.28 18.91
Benchmarks
Receivables Turnover, Competitors2
Airbnb Inc. 42.00 42.04 17.80
Booking Holdings Inc. 7.67 8.07 12.85 8.97
Chipotle Mexican Grill Inc. 80.79 75.77 57.27 69.36
McDonald’s Corp. 4.14 5.23 3.86 4.24
Starbucks Corp. 27.44 30.92 26.62 30.15 35.67
Receivables Turnover, Sector
Consumer Services 12.89 14.36 12.53 11.63
Receivables Turnover, Industry
Consumer Discretionary 17.95 21.21 21.81 21.46

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
Receivables turnover = Net revenues ÷ Accounts receivable, net of provision for credit losses
= 4,110 ÷ 267 = 15.39

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Receivables turnover An activity ratio equal to revenue divided by receivables. Las Vegas Sands Corp. receivables turnover ratio improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022 not reaching 2020 level.

Payables Turnover

Las Vegas Sands Corp., payables turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Cost of revenues 2,460 2,626 2,608 6,832 6,974
Accounts payable 89 77 98 149 178
Short-term Activity Ratio
Payables turnover1 27.64 34.10 26.61 45.85 39.18
Benchmarks
Payables Turnover, Competitors2
Airbnb Inc. 10.94 9.77 10.96
Booking Holdings Inc. 6.82 6.91 9.25 12.16
Chipotle Mexican Grill Inc. 35.61 35.79 40.52 38.37
McDonald’s Corp. 7.53 7.99 9.42 7.85
Starbucks Corp. 16.57 17.06 18.50 15.99 14.73
Payables Turnover, Sector
Consumer Services 10.75 11.42 14.22 13.10
Payables Turnover, Industry
Consumer Discretionary 4.80 4.66 4.74 5.51

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
Payables turnover = Cost of revenues ÷ Accounts payable
= 2,460 ÷ 89 = 27.64

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Las Vegas Sands Corp. payables turnover ratio increased from 2020 to 2021 but then slightly decreased from 2021 to 2022 not reaching 2020 level.

Working Capital Turnover

Las Vegas Sands Corp., working capital turnover calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Current assets 6,744 5,510 2,644 5,305 5,566
Less: Current liabilities 3,902 2,565 2,309 3,224 3,157
Working capital 2,842 2,945 335 2,081 2,409
 
Net revenues 4,110 4,234 3,612 13,739 13,729
Short-term Activity Ratio
Working capital turnover1 1.45 1.44 10.78 6.60 5.70
Benchmarks
Working Capital Turnover, Competitors2
Airbnb Inc. 1.22 0.99 0.89
Booking Holdings Inc. 2.33 1.59 0.77 3.37
Chipotle Mexican Grill Inc. 34.00 14.86 10.01 13.77
McDonald’s Corp. 5.39 3.13 131.28
Starbucks Corp. 18.11 51.17 3.63
Working Capital Turnover, Sector
Consumer Services 5.39 3.49 3.50 13.17
Working Capital Turnover, Industry
Consumer Discretionary 18.57 11.02 13.68 25.90

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
Working capital turnover = Net revenues ÷ Working capital
= 4,110 ÷ 2,842 = 1.45

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Working capital turnover An activity ratio calculated as revenue divided by working capital. Las Vegas Sands Corp. working capital turnover ratio deteriorated from 2020 to 2021 but then slightly improved from 2021 to 2022.

Average Inventory Processing Period

Las Vegas Sands Corp., average inventory processing period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Inventory turnover 87.86 119.36 81.50 184.65 199.26
Short-term Activity Ratio (no. days)
Average inventory processing period1 4 3 4 2 2
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Chipotle Mexican Grill Inc. 2 2 2 2
McDonald’s Corp. 3 3 3 2
Starbucks Corp. 33 28 31 29 29
Average Inventory Processing Period, Sector
Consumer Services 15 13 16 13
Average Inventory Processing Period, Industry
Consumer Discretionary 55 52 49 47

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 87.86 = 4

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average inventory processing period An activity ratio equal to the number of days in the period divided by inventory turnover over the period.

Average Receivable Collection Period

Las Vegas Sands Corp., average receivable collection period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Receivables turnover 15.39 20.96 10.69 16.28 18.91
Short-term Activity Ratio (no. days)
Average receivable collection period1 24 17 34 22 19
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Airbnb Inc. 9 9 21
Booking Holdings Inc. 48 45 28 41
Chipotle Mexican Grill Inc. 5 5 6 5
McDonald’s Corp. 88 70 95 86
Starbucks Corp. 13 12 14 12 10
Average Receivable Collection Period, Sector
Consumer Services 28 25 29 31
Average Receivable Collection Period, Industry
Consumer Discretionary 20 17 17 17

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 15.39 = 24

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average receivable collection period An activity ratio equal to the number of days in the period divided by receivables turnover. Las Vegas Sands Corp. number of days of receivables outstanding improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Operating Cycle

Las Vegas Sands Corp., operating cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Average inventory processing period 4 3 4 2 2
Average receivable collection period 24 17 34 22 19
Short-term Activity Ratio
Operating cycle1 28 20 38 24 21
Benchmarks
Operating Cycle, Competitors2
Chipotle Mexican Grill Inc. 7 7 8 7
McDonald’s Corp. 91 73 98 88
Starbucks Corp. 46 40 45 41 39
Operating Cycle, Sector
Consumer Services 43 38 45 44
Operating Cycle, Industry
Consumer Discretionary 75 69 66 64

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 4 + 24 = 28

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Operating cycle Equal to average inventory processing period plus average receivables collection period. Las Vegas Sands Corp. operating cycle improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.

Average Payables Payment Period

Las Vegas Sands Corp., average payables payment period calculation, comparison to benchmarks

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Payables turnover 27.64 34.10 26.61 45.85 39.18
Short-term Activity Ratio (no. days)
Average payables payment period1 13 11 14 8 9
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Airbnb Inc. 33 37 33
Booking Holdings Inc. 54 53 39 30
Chipotle Mexican Grill Inc. 10 10 9 10
McDonald’s Corp. 48 46 39 46
Starbucks Corp. 22 21 20 23 25
Average Payables Payment Period, Sector
Consumer Services 34 32 26 28
Average Payables Payment Period, Industry
Consumer Discretionary 76 78 77 66

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 27.64 = 13

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Average payables payment period An estimate of the average number of days it takes a company to pay its suppliers; equal to the number of days in the period divided by payables turnover ratio for the period. Las Vegas Sands Corp. number of days of payables outstanding decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level.

Cash Conversion Cycle

Las Vegas Sands Corp., cash conversion cycle calculation, comparison to benchmarks

No. days

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data
Average inventory processing period 4 3 4 2 2
Average receivable collection period 24 17 34 22 19
Average payables payment period 13 11 14 8 9
Short-term Activity Ratio
Cash conversion cycle1 15 9 24 16 12
Benchmarks
Cash Conversion Cycle, Competitors2
Chipotle Mexican Grill Inc. -3 -3 -1 -3
McDonald’s Corp. 43 27 59 42
Starbucks Corp. 24 19 25 18 14
Cash Conversion Cycle, Sector
Consumer Services 9 6 19 16
Cash Conversion Cycle, Industry
Consumer Discretionary -1 -9 -11 -2

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 4 + 2413 = 15

2 Click competitor name to see calculations.

Short-term activity ratio Description The company
Cash conversion cycle A financial metric that measures the length of time required for a company to convert cash invested in its operations to cash received as a result of its operations; equal to average inventory processing period plus average receivables collection period minus average payables payment period. Las Vegas Sands Corp. cash conversion cycle improved from 2020 to 2021 but then slightly deteriorated from 2021 to 2022.