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 $70.28 per share. The share price was $40.80 on November 10, 2026, 42% 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% | $35.57 | -13% |
| Base | 15.0% | 9.0% | $70.28 | +72% |
| Bull | 20.0% | 8.0% | $134.90 | +231% |
Sensitivity: base case value per share
| 1.5% | 2.0% | 2.5% | 3.0% | 3.5% | |
|---|---|---|---|---|---|
| 7.0% | $96.55 | $104.74 | $114.76 | $127.27 | $143.37 |
| 8.0% | $76.81 | $82.13 | $88.41 | $95.94 | $105.15 |
| 9.0% | $62.45 | $66.09 | $70.28 | $75.17 | $80.95 |
| 10.0% | $51.56 | $54.15 | $57.07 | $60.42 | $64.28 |
| 11.0% | $43.04 | $44.94 | $47.05 | $49.44 | $52.13 |
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