Las Vegas Sands Corp. (LVS) Stock Valuation — DCF Analysis
Gambling, Resorts & Casinos · NYSE
Current Price
$50.67
Intrinsic Value
$75.28
+32.7% margin of safety
COMPETITIVE MOAT
↑Macau Market Dominance
LVS holds a significant share in Macau, benefiting from strong gaming revenues and a growing tourism sector. This established presence creates a substantial barrier to entry for competitors.
↑Integrated Resort Experience
Their luxury integrated resorts offer a comprehensive entertainment and hospitality experience beyond just gaming. This attracts a broad customer base and fosters loyalty.
↑Brand Recognition and Loyalty
The Las Vegas Sands brand is synonymous with high-end gaming and entertainment. This strong brand equity translates into customer preference and repeat business.
INVESTMENT RISKS
↓Regulatory Scrutiny and Policy Changes
The gaming industry is heavily regulated. Changes in government policies or increased scrutiny in Macau could negatively impact LVS's operations and profitability.
↓Competition from Online Betting
The rise of online betting platforms and prediction markets poses a threat to traditional brick-and-mortar casinos. LVS must adapt to evolving consumer preferences.
↓Economic Sensitivity and Travel Disruptions
LVS's performance is tied to discretionary spending and international travel. Economic downturns or global events can significantly reduce customer traffic and revenue.
Base case
LVS base case valuation
A base case discounted cash flow model for LVS estimates an intrinsic value of about $75.28 per share, against a current price of $50.67. The model assumes 13.1% annual free cash flow growth, a 10.0% discount rate, and a 14x exit multiple.
Intrinsic Value
$75.28
Margin of safety
+32.7%
Expected annual return
+8.2%
Base case assumptions: 13.1% annual growth, 10.0% discount rate, 14x exit multiple, 5 year projection. Data as of 2026-06-12.
This base case uses default assumptions and is not financial advice. The intrinsic value changes significantly when the growth rate or discount rate changes. Open the calculator to set your own assumptions and see the full sensitivity range.
Customize the LVS valuation
Adjust the growth rate, discount rate, and exit multiple to see how the intrinsic value and margin of safety for Las Vegas Sands Corp. respond.
Open DCF Calculator for LVSCompany Overview
Las Vegas Sands Corporation, in conjunction with its various subsidiaries, specializes in the development, ownership, and ongoing management of comprehensive integrated resort properties across both Asian and United States markets. The company maintains a significant portfolio of establishments in Macao, People's Republic of China, including The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao (which encompasses the Four Seasons Hotel Macao, Cotai Strip), and the Sands Macao. Furthermore, its Asian operations extend to Singapore, where it presides over the iconic Marina Bay Sands. Domestically, Las Vegas Sands also operates key assets within Las Vegas, Nevada: The Venetian Resort Hotel Casino, prominently situated on the renowned Las Vegas Strip, and the Sands Expo and Convention Center. These expansive integrated resorts are meticulously designed to offer a full spectrum of guest experiences, boasting luxurious accommodations, extensive gaming facilities, diverse entertainment venues, high-end retail shopping complexes, state-of-the-art convention and exhibition spaces, gourmet restaurants helmed by celebrity chefs, and numerous other guest conveniences. Established in 1988, Las Vegas Sands Corp. maintains its corporate headquarters in Las Vegas, Nevada.
Financial Metrics — LVS Stock Valuation Data
Revenue/Share (TTM)
$20.54
FCF/Share (TTM)
$3.47
ROIC (TTM)
15.7%
ROE (TTM)
116.0%
P/FCF
14.5x
EV/EBITDA
9.6x
FCF Yield
6.91%
Debt/Equity
13.10x
Based on trailing twelve-month data, LVS shows a free cash flow per share of $3.47 and a ROIC of 15.7%, key inputs for stock valuation using the DCF method. The P/FCF ratio of 14.5x and FCF yield of 6.91% are important context metrics when evaluating LVS's stock valuation relative to peers.
Frequently Asked Questions
What is the intrinsic value of LVS?
Las Vegas Sands Corp. currently generates $3.47 in free cash flow per share. At the current price of $50.67, a DCF model would discount these cash flows at an appropriate WACC and apply a terminal growth rate to arrive at an intrinsic value. The result depends heavily on your growth and discount rate assumptions — a 1% change in WACC typically shifts the fair value estimate by 10-15%. In MiniValuator the model uses a single discount rate that you can edit directly, 10% by default, rather than a computed WACC.
Is LVS undervalued?
LVS trades at a P/FCF ratio of 14.5x with a free cash flow yield of 6.91%. This relatively low P/FCF may suggest the stock is attractively priced relative to its cash generation. However, whether LVS is truly undervalued requires comparing the DCF intrinsic value to the current market price and evaluating whether the margin of safety is sufficient for your risk tolerance.
How do I value LVS stock using DCF?
To perform a DCF valuation on Las Vegas Sands Corp.: (1) Start with the trailing free cash flow per share ($3.47) as the base, (2) project future FCF growth over 5-10 years based on Gambling, Resorts & Casinos industry trends and company fundamentals, (3) apply a discount rate (WACC) reflecting LVS's risk profile — with a debt-to-equity of 13.10x, capital structure is an important factor, and (4) add a terminal value for cash flows beyond the projection period.
What is DCF valuation and how does it apply to LVS?
DCF (Discounted Cash Flow) estimates what a company is worth today based on its future cash generation. For Las Vegas Sands Corp., this means projecting how much free cash flow the company will produce over the next 5-10 years, shaped by Gambling, Resorts & Casinos trends, then discounting those amounts to today's dollars. LVS's ROIC of 15.7% indicates strong capital efficiency, which supports higher growth assumptions in the DCF model.
How does WACC affect LVS stock valuation?
WACC (Weighted Average Cost of Capital) is the discount rate in a DCF model — it reflects the minimum return investors require. For LVS, with a debt-to-equity ratio of 13.10x, the capital structure directly influences WACC. A 1% increase in WACC typically reduces the intrinsic value by 10-15%. At an EV/EBITDA of 9.6x, the market's implied discount rate can be reverse-engineered for comparison. In MiniValuator you set this discount rate yourself as a single editable number, 10% by default, instead of computing a formal WACC.
Learn More
- See LVS PE Valuation → — Earnings-based stock valuation using PE ratio analysis
- DCF Methodology — Step-by-step guide to discounted cash flow analysis
- PE Methodology — Guide to PE ratio stock valuation
- WACC — Understanding the discount rate used in DCF
- Margin of Safety — How to evaluate downside protection
- Intrinsic Value — How to evaluate stock fair value
- How to Calculate Intrinsic Value — Complete guide for investors
Related Valuations
All Consumer Cyclical valuationsDCF and P/E value LVS with different methods and assumptions, so the two conclusions can differ. Compare the P/E fair value.
Price as of 2026-06-12. Financial data from Financial Modeling Prep (trailing twelve months) · Valuation methodology by Charlie Wang.
This is an estimate, not investment advice.