Caesars Entertainment vs Las Vegas Sands
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KIRA’s take AI analyst
I put Caesars Entertainment and Las Vegas Sands side by side, using each one’s latest annual report. Here is what stands out:
- Las Vegas Sands is the larger business, with $13.0B of revenue in fiscal 2025 against $11.5B for Caesars Entertainment.
- Las Vegas Sands grew revenue faster (15.2%, against 2.1%).
- Las Vegas Sands kept more of each dollar of sales as operating profit (21.7% operating margin, against 16.2%).
- Las Vegas Sands turned more of its sales into free cash flow (14.3% FCF margin, against 4.3%).
- Las Vegas Sands earned a higher return on the capital invested in it (17.5%, against 9.6%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Caesars Entertainment
CZR
0/10
Las Vegas Sands
LVS
10/10
Revenue growth5-year growthOperating marginNet marginFCF marginReturn on capitalReturn on equityPiotroski F-scoreNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | CZR FY25 | LVS FY25 |
|---|---|---|
| Size | ||
| Market cap | $5.9B | $23.4B |
| Revenue | $11.5B | $13.0B |
| Free cash flow | $497M | $1.9B |
| Net income | −$502M | $1.6B |
| Growth | ||
| Revenue growth | 2.1% | 15.2% |
| 5-year growth | 25.9% | 34.7% |
| Share count change | −3.3% | −6.0% |
| Profitability | ||
| Gross margin | — | — |
| Operating margin | 16.2% | 21.7% |
| Net margin | −4.4% | 12.5% |
| FCF margin | 4.3% | 14.3% |
| Return on capital | 9.6% | 17.5% |
| Return on equity | −13.1% | 72.7% |
| Balance sheet | ||
| Net debt | $11.2B | $11.9B |
| Net debt / EBITDA | 3.4x | 2.8x |
| Dividends and buybacks | $229M | $3.1B |
| Valuation & quality | ||
| P/E | — | 15.0x |
| Piotroski F-score | 6 | 7 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.