What is Las Vegas Sands Corp worth?
With the base-case assumptions below, a discounted cash flow model on Las Vegas Sands Corp's reported free cash flow gives $71.29 per share. The share price was $38.99 on September 25, 2026, 45% below that value.
Inputs from the filings
Three sets of assumptions
| Case | Growth yrs 1-5 | Discount rate | Value per share | Value vs price |
|---|---|---|---|---|
| Bear | 10.0% | 10.0% | $36.58 | -6% |
| Base | 15.0% | 9.0% | $71.29 | +83% |
| Bull | 20.0% | 8.0% | $135.91 | +249% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $97.56 | $105.75 | $115.77 | $128.28 | $144.38 |
| 8.0% | $77.82 | $83.14 | $89.42 | $96.95 | $106.16 |
| 9.0% | $63.46 | $67.10 | $71.29 | $76.18 | $81.96 |
| 10.0% | $52.57 | $55.16 | $58.08 | $61.43 | $65.29 |
| 11.0% | $44.05 | $45.95 | $48.06 | $50.45 | $53.14 |
Where the presets come from
Base: years 1 to 5 grow at Las Vegas Sands Corp's revenue growth rate over the last 5 fiscal years (34.7% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.
Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.
Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.
This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.
Adjust the assumptions
Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.
Adjust the assumptions