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 
Quarterly Data

Microsoft Excel

Short-term Activity Ratios (Summary)

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

Microsoft Excel
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
Turnover Ratios
Inventory turnover 126.80 113.41 104.93 87.86 104.26 100.21 109.30 119.36 124.77 121.09 101.09 81.50 105.97 127.08 167.19 184.65 209.30 212.94 201.26 199.26
Receivables turnover 21.98 20.19 16.12 15.39 19.05 24.39 27.08 20.96 26.18 25.63 14.76 10.69 15.64 15.24 18.19 16.28 18.10 18.03 18.72 18.91
Payables turnover 29.59 26.88 27.20 27.64 26.35 31.64 36.43 34.10 37.09 38.61 33.21 26.61 51.47 73.47 73.40 45.85 40.63 50.92 46.34 39.18
Working capital turnover 4.14 1.69 1.71 1.45 1.42 0.81 0.87 1.44 1.60 1.35 0.96 10.78 8.50 6.18 11.06 6.60 7.60 7.18 6.45 5.70
Average No. Days
Average inventory processing period 3 3 3 4 4 4 3 3 3 3 4 4 3 3 2 2 2 2 2 2
Add: Average receivable collection period 17 18 23 24 19 15 13 17 14 14 25 34 23 24 20 22 20 20 19 19
Operating cycle 20 21 26 28 23 19 16 20 17 17 29 38 26 27 22 24 22 22 21 21
Less: Average payables payment period 12 14 13 13 14 12 10 11 10 9 11 14 7 5 5 8 9 7 8 9
Cash conversion cycle 8 7 13 15 9 7 6 9 7 8 18 24 19 22 17 16 13 15 13 12

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).

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
Receivables turnover An activity ratio equal to revenue divided by receivables. Las Vegas Sands Corp. receivables turnover ratio improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
Payables turnover An activity ratio calculated as cost of goods sold divided by payables. Las Vegas Sands Corp. payables turnover ratio decreased from Q1 2023 to Q2 2023 but then increased from Q2 2023 to Q3 2023 exceeding Q1 2023 level.
Working capital turnover An activity ratio calculated as revenue divided by working capital. Las Vegas Sands Corp. working capital turnover ratio deteriorated from Q1 2023 to Q2 2023 but then improved from Q2 2023 to Q3 2023 exceeding Q1 2023 level.

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
Operating cycle Equal to average inventory processing period plus average receivables collection period. Las Vegas Sands Corp. operating cycle improved from Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.
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 increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.
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 Q1 2023 to Q2 2023 but then slightly deteriorated from Q2 2023 to Q3 2023.

Inventory Turnover

Las Vegas Sands Corp., inventory turnover calculation (quarterly data)

Microsoft Excel
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)
Cost of revenues 1,386 1,293 1,094 665 577 602 616 603 584 711 728 722 503 372 1,011 1,717 1,602 1,689 1,824 1,792 1,722 1,706 1,754
Inventories 35 32 28 28 23 24 23 22 22 22 23 32 34 37 36 37 33 33 35 35 42 44 46
Short-term Activity Ratio
Inventory turnover1 126.80 113.41 104.93 87.86 104.26 100.21 109.30 119.36 124.77 121.09 101.09 81.50 105.97 127.08 167.19 184.65 209.30 212.94 201.26 199.26
Benchmarks
Inventory Turnover, Competitors2
Chipotle Mexican Grill Inc. 175.86 191.68 194.58 184.27 191.96 214.37 203.97 177.91 195.78 213.29 211.26 186.94 189.01 191.72 195.93 170.29
McDonald’s Corp. 168.52 146.30 142.62 141.94 175.32 183.32 165.10 144.74 156.70 159.38 155.54 136.62 158.76 166.87 195.07 154.59
Starbucks Corp. 12.95 12.54 11.70 10.97 10.97 11.79 13.24 12.89 12.64 12.25 12.45 11.90 11.80 13.06 13.72 12.44 12.24 12.56 13.20 12.40

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
Inventory turnover = (Cost of revenuesQ3 2023 + Cost of revenuesQ2 2023 + Cost of revenuesQ1 2023 + Cost of revenuesQ4 2022) ÷ Inventories
= (1,386 + 1,293 + 1,094 + 665) ÷ 35 = 126.80

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Receivables Turnover

Las Vegas Sands Corp., receivables turnover calculation (quarterly data)

Microsoft Excel
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 revenues 2,795 2,542 2,120 1,117 1,005 1,045 943 1,008 857 1,173 1,196 1,146 586 98 1,782 3,509 3,250 3,334 3,646 3,475 3,372 3,303 3,579
Accounts receivable, net of provision for credit losses 390 336 328 267 210 158 147 202 167 160 205 338 382 567 653 844 757 767 737 726 650 555 587
Short-term Activity Ratio
Receivables turnover1 21.98 20.19 16.12 15.39 19.05 24.39 27.08 20.96 26.18 25.63 14.76 10.69 15.64 15.24 18.19 16.28 18.10 18.03 18.72 18.91
Benchmarks
Receivables Turnover, Competitors2
Airbnb Inc. 39.84 34.42 38.36 42.00 45.08 36.09 42.42 42.04
Booking Holdings Inc. 5.98 6.90 8.87 7.67 7.01 6.51 7.77 8.07 5.93 5.57 9.64 12.85 10.36 19.96 21.76 8.97
Chipotle Mexican Grill Inc. 134.08 152.24 136.37 80.79 118.06 97.41 87.64 75.77 94.54 90.40 92.26 57.27 83.86 82.63 89.64 69.36
McDonald’s Corp. 4.22 4.12 4.18 4.14 4.80 5.20 5.93 5.23 5.19 5.07 4.77 3.86 3.46 2.94 5.43 4.24
Starbucks Corp. 30.71 28.67 28.30 27.44 27.91 31.27 29.45 30.92 29.76 27.09 26.09 26.62 27.31 28.33 29.70 30.15 32.97 36.32 35.04 35.67

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
Receivables turnover = (Net revenuesQ3 2023 + Net revenuesQ2 2023 + Net revenuesQ1 2023 + Net revenuesQ4 2022) ÷ Accounts receivable, net of provision for credit losses
= (2,795 + 2,542 + 2,120 + 1,117) ÷ 390 = 21.98

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Payables Turnover

Las Vegas Sands Corp., payables turnover calculation (quarterly data)

Microsoft Excel
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)
Cost of revenues 1,386 1,293 1,094 665 577 602 616 603 584 711 728 722 503 372 1,011 1,717 1,602 1,689 1,824 1,792 1,722 1,706 1,754
Accounts payable 150 135 108 89 91 76 69 77 74 69 70 98 70 64 82 149 170 138 152 178 153 154 159
Short-term Activity Ratio
Payables turnover1 29.59 26.88 27.20 27.64 26.35 31.64 36.43 34.10 37.09 38.61 33.21 26.61 51.47 73.47 73.40 45.85 40.63 50.92 46.34 39.18
Benchmarks
Payables Turnover, Competitors2
Booking Holdings Inc. 6.83 9.11 8.52 6.82 7.52 6.54 8.32 6.91 6.29 6.98 9.91 9.25 7.99 19.44 15.68 12.16
Chipotle Mexican Grill Inc. 34.04 42.59 36.87 35.61 38.60 39.82 36.05 35.79 32.44 38.26 34.83 40.52 30.59 28.88 35.06 38.37
McDonald’s Corp. 9.30 9.50 9.05 7.53 9.57 10.74 11.40 7.99 10.16 10.42 10.52 9.42 10.18 13.20 11.35 7.85
Starbucks Corp. 17.11 17.49 18.12 16.57 15.70 17.03 16.81 17.06 17.36 17.82 17.44 18.50 21.71 19.54 17.80 15.99 16.22 16.53 16.25 14.73

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
Payables turnover = (Cost of revenuesQ3 2023 + Cost of revenuesQ2 2023 + Cost of revenuesQ1 2023 + Cost of revenuesQ4 2022) ÷ Accounts payable
= (1,386 + 1,293 + 1,094 + 665) ÷ 150 = 29.59

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 decreased from Q1 2023 to Q2 2023 but then increased from Q2 2023 to Q3 2023 exceeding Q1 2023 level.

Working Capital Turnover

Las Vegas Sands Corp., working capital turnover calculation (quarterly data)

Microsoft Excel
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 assets 6,172 6,290 7,015 6,744 6,207 6,770 6,725 5,510 5,228 5,577 5,630 2,644 2,958 3,772 3,493 5,305 4,808 4,957 5,055 5,566 5,614 5,075 3,394
Less: Current liabilities 4,102 2,275 3,919 3,902 3,391 2,023 2,139 2,565 2,487 2,542 2,465 2,309 2,255 2,375 2,419 3,224 3,004 3,031 2,917 3,157 2,906 2,992 2,874
Working capital 2,070 4,015 3,096 2,842 2,816 4,747 4,586 2,945 2,741 3,035 3,165 335 703 1,397 1,074 2,081 1,804 1,926 2,138 2,409 2,708 2,083 520
 
Net revenues 2,795 2,542 2,120 1,117 1,005 1,045 943 1,008 857 1,173 1,196 1,146 586 98 1,782 3,509 3,250 3,334 3,646 3,475 3,372 3,303 3,579
Short-term Activity Ratio
Working capital turnover1 4.14 1.69 1.71 1.45 1.42 0.81 0.87 1.44 1.60 1.35 0.96 10.78 8.50 6.18 11.06 6.60 7.60 7.18 6.45 5.70
Benchmarks
Working Capital Turnover, Competitors2
Airbnb Inc. 1.25 1.41 1.31 1.22 1.17 1.13 1.10 0.99
Booking Holdings Inc. 3.65 2.82 2.77 2.33 4.14 3.16 2.32 1.59 1.07 1.02 0.74 0.77 1.03 1.50 2.83 3.37
Chipotle Mexican Grill Inc. 16.40 16.17 24.45 34.00 32.42 37.95 29.78 14.86 10.78 11.18 10.14 10.01 14.20 13.16 13.89 13.77
McDonald’s Corp. 3.33 7.11 3.99 5.39 4.03 6.64 23.54 3.13 5.58 5.19 9.32 131.28 18.14 2.58
Starbucks Corp. 18.11 205.59 50.26 48.92 51.17 14.17 11.24 3.63

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
Working capital turnover = (Net revenuesQ3 2023 + Net revenuesQ2 2023 + Net revenuesQ1 2023 + Net revenuesQ4 2022) ÷ Working capital
= (2,795 + 2,542 + 2,120 + 1,117) ÷ 2,070 = 4.14

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 Q1 2023 to Q2 2023 but then improved from Q2 2023 to Q3 2023 exceeding Q1 2023 level.

Average Inventory Processing Period

Las Vegas Sands Corp., average inventory processing period calculation (quarterly data)

Microsoft Excel
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
Inventory turnover 126.80 113.41 104.93 87.86 104.26 100.21 109.30 119.36 124.77 121.09 101.09 81.50 105.97 127.08 167.19 184.65 209.30 212.94 201.26 199.26
Short-term Activity Ratio (no. days)
Average inventory processing period1 3 3 3 4 4 4 3 3 3 3 4 4 3 3 2 2 2 2 2 2
Benchmarks (no. days)
Average Inventory Processing Period, Competitors2
Chipotle Mexican Grill Inc. 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2 2
McDonald’s Corp. 2 2 3 3 2 2 2 3 2 2 2 3 2 2 2 2
Starbucks Corp. 28 29 31 33 33 31 28 28 29 30 29 31 31 28 27 29 30 29 28 29

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
Average inventory processing period = 365 ÷ Inventory turnover
= 365 ÷ 126.80 = 3

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 (quarterly data)

Microsoft Excel
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
Receivables turnover 21.98 20.19 16.12 15.39 19.05 24.39 27.08 20.96 26.18 25.63 14.76 10.69 15.64 15.24 18.19 16.28 18.10 18.03 18.72 18.91
Short-term Activity Ratio (no. days)
Average receivable collection period1 17 18 23 24 19 15 13 17 14 14 25 34 23 24 20 22 20 20 19 19
Benchmarks (no. days)
Average Receivable Collection Period, Competitors2
Airbnb Inc. 9 11 10 9 8 10 9 9
Booking Holdings Inc. 61 53 41 48 52 56 47 45 62 66 38 28 35 18 17 41
Chipotle Mexican Grill Inc. 3 2 3 5 3 4 4 5 4 4 4 6 4 4 4 5
McDonald’s Corp. 87 89 87 88 76 70 62 70 70 72 76 95 106 124 67 86
Starbucks Corp. 12 13 13 13 13 12 12 12 12 13 14 14 13 13 12 12 11 10 10 10

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
Average receivable collection period = 365 ÷ Receivables turnover
= 365 ÷ 21.98 = 17

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Operating Cycle

Las Vegas Sands Corp., operating cycle calculation (quarterly data)

No. days

Microsoft Excel
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
Average inventory processing period 3 3 3 4 4 4 3 3 3 3 4 4 3 3 2 2 2 2 2 2
Average receivable collection period 17 18 23 24 19 15 13 17 14 14 25 34 23 24 20 22 20 20 19 19
Short-term Activity Ratio
Operating cycle1 20 21 26 28 23 19 16 20 17 17 29 38 26 27 22 24 22 22 21 21
Benchmarks
Operating Cycle, Competitors2
Chipotle Mexican Grill Inc. 5 4 5 7 5 6 6 7 6 6 6 8 6 6 6 7
McDonald’s Corp. 89 91 90 91 78 72 64 73 72 74 78 98 108 126 69 88
Starbucks Corp. 40 42 44 46 46 43 40 40 41 43 43 45 44 41 39 41 41 39 38 39

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
Operating cycle = Average inventory processing period + Average receivable collection period
= 3 + 17 = 20

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 Q1 2023 to Q2 2023 and from Q2 2023 to Q3 2023.

Average Payables Payment Period

Las Vegas Sands Corp., average payables payment period calculation (quarterly data)

Microsoft Excel
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
Payables turnover 29.59 26.88 27.20 27.64 26.35 31.64 36.43 34.10 37.09 38.61 33.21 26.61 51.47 73.47 73.40 45.85 40.63 50.92 46.34 39.18
Short-term Activity Ratio (no. days)
Average payables payment period1 12 14 13 13 14 12 10 11 10 9 11 14 7 5 5 8 9 7 8 9
Benchmarks (no. days)
Average Payables Payment Period, Competitors2
Booking Holdings Inc. 53 40 43 54 49 56 44 53 58 52 37 39 46 19 23 30
Chipotle Mexican Grill Inc. 11 9 10 10 9 9 10 10 11 10 10 9 12 13 10 10
McDonald’s Corp. 39 38 40 48 38 34 32 46 36 35 35 39 36 28 32 46
Starbucks Corp. 21 21 20 22 23 21 22 21 21 20 21 20 17 19 21 23 23 22 22 25

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
Average payables payment period = 365 ÷ Payables turnover
= 365 ÷ 29.59 = 12

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 increased from Q1 2023 to Q2 2023 but then decreased significantly from Q2 2023 to Q3 2023.

Cash Conversion Cycle

Las Vegas Sands Corp., cash conversion cycle calculation (quarterly data)

No. days

Microsoft Excel
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
Average inventory processing period 3 3 3 4 4 4 3 3 3 3 4 4 3 3 2 2 2 2 2 2
Average receivable collection period 17 18 23 24 19 15 13 17 14 14 25 34 23 24 20 22 20 20 19 19
Average payables payment period 12 14 13 13 14 12 10 11 10 9 11 14 7 5 5 8 9 7 8 9
Short-term Activity Ratio
Cash conversion cycle1 8 7 13 15 9 7 6 9 7 8 18 24 19 22 17 16 13 15 13 12
Benchmarks
Cash Conversion Cycle, Competitors2
Chipotle Mexican Grill Inc. -6 -5 -5 -3 -4 -3 -4 -3 -5 -4 -4 -1 -6 -7 -4 -3
McDonald’s Corp. 50 53 50 43 40 38 32 27 36 39 43 59 72 98 37 42
Starbucks Corp. 19 21 24 24 23 22 18 19 20 23 22 25 27 22 18 18 18 17 16 14

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
Cash conversion cycle = Average inventory processing period + Average receivable collection period – Average payables payment period
= 3 + 1712 = 8

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 Q1 2023 to Q2 2023 but then slightly deteriorated from Q2 2023 to Q3 2023.