April 28, 2025 a 12:46 pm
LVS: Dividend Analysis - Las Vegas Sands Corp.
Las Vegas Sands Corp., a leader in integrated resort properties, presents a mixed dividend outlook. With a current dividend yield of 2.51%, it provides moderate income potential. However, recent dividend growth trends reveal a decrease, demanding vigilance from income-focused investors. Its payout ratios show reasonable financial prudence, but high leverage requires cautious analysis.
📊 Overview
The following table summarizes key dividend-related metrics for Las Vegas Sands Corp.
| Metric | Detail |
|---|---|
| Sector | Consumer Discretionary |
| Dividend Yield | 2.51% |
| Current Dividend per Share | 0.80 USD |
| Dividend History | 12 years |
| Last Cut or Suspension | None |
🗣️ Dividend History
Historical dividend payments highlight the company's distribution consistency and potential for future payouts. Analyzing this history helps investors predict long-term yield reliability.
| Year | Dividend per Share (USD) |
|---|---|
| 2025 | 0.50 |
| 2024 | 0.80 |
| 2023 | 0.40 |
| 2020 | 0.79 |
| 2019 | 3.08 |
📈 Dividend Growth
Dividend growth over time is crucial for long-term income investors, as it indicates how well the company can increase shareholder payouts.
| Time | Growth |
|---|---|
| 3 years | 0.42% |
| 5 years | -23.63% |
The average dividend growth is -23.63% over 5 years. This shows a concerning decline in dividend payments, necessitating close monitoring by stakeholders.
📉 Payout Ratio
The payout ratio determines how sustainable a company's dividend payments are, based on its earnings and cash flow.
| Key figure | Ratio |
|---|---|
| EPS-based | 43.83% |
| Free Cash Flow-based | 45.85% |
Both the EPS-based (43.83%) and FCF-based (45.85%) payout ratios reflect a sustainable dividend policy, ensuring that a significant portion of income is retained for business investments.
✅ Cashflow & Capital Efficiency
Understanding cash flow dynamics and capital efficiency helps evaluate the firm's operational health and investment efficacy.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Free Cash Flow Yield | 4.34% | 5.25% | -3.94% |
| Earnings Yield | 3.83% | 3.25% | -2.90% |
| CAPEX to Operating Cash Flow | 48.91% | 31.52% | -81.89% |
| Stock-based Compensation to Revenue | 0.49% | 0.42% | 0.95% |
| Free Cash Flow / Operating Cash Flow Ratio | 51.09% | 61.05% | 181.89% |
The cashflow metrics show variability, with recent improvements indicating better utilization of resources and strengthening operational cash flow growth.
⚠️ Balance Sheet & Leverage Analysis
A robust balance sheet and manageable leverage are vital for financial stability and liquidity management.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Debt-to-Equity | 4.77 | 3.41 | 4.11 |
| Debt-to-Assets | 66.54% | 64.42% | 72.44% |
| Debt-to-Capital | 82.66% | 77.31% | 80.44% |
| Net Debt to EBITDA | 2.46 | 2.28 | 27.50 |
| Current Ratio | 0.74 | 1.31 | 1.73 |
| Quick Ratio | 0.73 | 1.30 | 1.72 |
| Financial Leverage | 7.17 | 5.29 | 5.68 |
High leverage ratios suggest the need for strict debt management, as they may pose risks under adverse market conditions. Enhanced liquidity ratios indicate short-term financial health.
📊 Fundamental Strength & Profitability
Fundamentals assess core profitability and operational efficiency, essential for sustained growth and shareholder value creation.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Return on Equity | 50.14% | 29.65% | -27.47% |
| Return on Assets | 7.00% | 5.61% | -4.84% |
| Net Margin | 12.80% | 11.77% | -25.94% |
| EBIT Margin | 23.78% | 25.00% | -16.67% |
| EBITDA Margin | 35.89% | 37.79% | 8.54% |
| Gross Margin | 48.87% | 49.82% | 62.90% |
| R&D to Revenue | 2.02% | 1.98% | 3.48% |
Strong profitability margins reflect the firm's competitive edge, though historical volatility in returns necessitates continual strategic adjustments.
🔍 Price Development
An evaluation of recent stock performance highlights market trends and investor sentiment.
🔢 Dividend Scoring System
| Criteria | Score (out of 5) | Visualization |
|---|---|---|
| Dividend Yield | 3 | |
| Dividend Stability | 4 | |
| Dividend Growth | 2 | |
| Payout Ratio | 4 | |
| Financial Stability | 3 | |
| Dividend Continuity | 4 | |
| Cashflow Coverage | 3 | |
| Balance Sheet Quality | 3 |
Total Score: 26/40
✅ Rating
Las Vegas Sands Corp. demonstrates moderate dividend and fundamental performance. While current yield is attractive, declining growth and high leverage require careful investor consideration. Continued focus on operational improvements and debt reduction will be crucial for enhancing shareholder value.