Las Vegas Sands Corp., current enterprise value calculation

Current share price (P)	$45.32
No. shares of common stock outstanding	764,490,874
US$ in millions
Common equity (market value)¹	34,647)
Add: Preferred stock, $0.001 par value, zero shares issued and outstanding (per books)	—)
Add: Noncontrolling interests (per books)	(225)
Total equity	34,422)
Add: Current maturities of long-term debt (per books)	2,031)
Add: Long-term debt, excluding current maturities (per books)	13,947)
Total equity and debt	50,400)
Less: Cash and cash equivalents	6,311)
Less: Restricted cash and cash equivalents	—)
Enterprise value (EV)	44,089)

¹ Common equity (market value) = Share price × No. shares of common stock outstanding
= 45.32 × 764,490,874

Las Vegas Sands Corp., EV calculation

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
Share price^1, 2	$58.08	$44.20	$55.57	$66.80	$61.61
No. shares of common stock outstanding¹	764,273,371	763,989,752	763,842,938	763,684,915	775,051,979
US$ in millions
Common equity (market value)³	44,389)	33,768)	42,447)	51,014)	47,751)
Add: Preferred stock, $0.001 par value, zero shares issued and outstanding (book value)	—)	—)	—)	—)	—)
Add: Noncontrolling interests (book value)	(225)	252)	565)	1,320)	1,061)
Total equity	44,164)	34,020)	43,012)	52,334)	48,812)
Add: Current maturities of long-term debt (book value)	2,031)	74)	76)	70)	111)
Add: Long-term debt, excluding current maturities (book value)	13,947)	14,721)	13,931)	12,422)	11,874)
Total equity and debt	60,142)	48,815)	57,019)	64,826)	60,797)
Less: Cash and cash equivalents	6,311)	1,854)	2,121)	4,226)	4,648)
Less: Restricted cash and cash equivalents	—)	16)	16)	16)	13)
Enterprise value (EV)	53,831)	46,945)	54,882)	60,584)	56,136)

¹ Data adjusted for splits and stock dividends.

² Closing price as at the filing date of Las Vegas Sands Corp. Annual Report.

³ 2022 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 58.08 × 764,273,371

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Item	Description	The company
EV	Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments.	Las Vegas Sands Corp. EV decreased from 2020 to 2021 but then increased from 2021 to 2022 not reaching 2020 level.

Las Vegas Sands Corp. (NYSE:LVS)

Enterprise Value (EV)