Page 1 of 5 Morningstar Analyst Rating. Last Price Day Change Open Price Day Range 52-Week Range Proj. Yield Market Cap Volume Avg Vol. Forward P/E P/B P/S P/CF $ 71.00 ]0.01 0.01 % $ 71.40 68.13-71.62 51.35-79.84 4.23 56.12 bil 6.2 mil 3.5 mil 22.78 9.52 4.50 12.7 Stock Price 2018-01-01-2018-02-09 XNYS:LVS: 1.51 2.17% 2018 Morningstar s Take We view Las Vegas Sands as well positioned for longterm growth in the gaming industry because of the attractive long-term growth opportunity of Macau (55% of EBITDA), and Sands' dominant... Key Stats Stock Ind Avg Price/Earnings TTM 26.8 73.7 Price/Book 9.5 8.8 Price/Sales TTM 4.5 2.6 Rev Growth (3 Yr Avg) -6.1 1.9 Net Income Growth (3 Yr Avg) -10.2 42.6 Operating Margin % TTM 24.8 11.8 Net Margin % TTM 16.8 3.6 ROA TTM 10.4 1.7 ROE TTM 34.4 12 Debt/Equity 1.6 3.9 Financials 90.00 60.00 30.00 Fair Value Estimate $ 63.00 Consider Buying $ 37.80 Consider Selling $ 97.65 Fair Value Uncertainty High Economic Moat Narrow Stewardship Standard Growth C Profitability Z Morningstar Credit Rating Relative to Industry - Avg + Annual Quarterly Income Statement 2017-12 2016-12 2015-12 2017-12 2016-12 Revenue 12,882 11,410 11,688 3,436 3,075 Operating Income 3,462 2,493 2,841 1,027 669 Net Income 2,806 1,670 1,966 1,211 509 Earnings Per Share 3.54 2.10 2.47 1.53 0.64 Shares Outstanding 792 795 798 791 796 Balance Sheet Current Assets 3,098 3,609 3,098 Non Current Assets 17,371 17,378 17,371 Total Assets 20,469 20,987 20,469 Current Liabilities 2,806 2,464 2,806 Total Liabilities 14,292 14,171 14,292 Stockholders' Equity 6,177 6,817 6,177 Dividends Declared Date 30/01/2018 Ex-Dividend Date 21/03/2018 Latest Indicated Dividend Amount 0.75 Projected Yield 4.23 % Recent Dividends & Type Amount Splits 12/20/2017 Cash Dividends 0.7300 09/20/2017 Cash Dividends 0.7300 06/20/2017 Cash Dividends 0.7300 03/21/2017 Cash Dividends 0.7300 Competitors Name Price % Chg TTM Sales $ mil Las Vegas Sands Corp $71.00 0.01 ] 12,521 MGM Resorts International $33.43-0.21 [ 10,637 Sands China Ltd ADR $53.35-1.71 [ 7,257 Sands China Ltd $5.30-4.80 [ 7,257 Galaxy Entertainment Group Ltd $8.17-1.09 [ 7,139 Wynn Macau Ltd ADR $32.48-4.03 [ 3,734 Recommendations Current 4.0 Total Analysts: 7 5.0 3.0 1.0 Buy Hold Sell Ownership Fund Owners Star Rating % Shares Held % Total Assets RBC QUBE US Equity Series O 0.06 1.05 Purpose Core Dividend Sr QQQ 0.02 2.67 D BMO Global Equity T6 0.02 1.71 Investors Global Dividend QQ 0.02 1.12 B PH&N US Multi-Style All- QQQ 0.01 0.17 Cap Equity Adv Insiders % Change TTM % Shares Outstanding Sheldon Gary Adelson 217,803 8.38 Charles D. Forman 1,552 0.03 Robert G. Goldstein -97,942 0.02 Patrick Dumont 0 0.02 Irwin Chafetz 1,545 0.01 Cash Flow Cash From Operations 4,043 3,450 1,213 Capital Expenditures -1,445-1,529-294
Morningstar Analyst Rating. Page 2 of 5 Last Price Day Change Open Price Day Range 52-Week Range Proj. Yield Market Cap Volume Avg Vol. Forward P/E P/B P/S P/CF $ 71.00 ]0.01 0.01 % $ 71.40 68.13-71.62 51.35-79.84 4.23 56.12 bil 6.2 mil 3.5 mil 22.78 9.52 4.50 12.7 Financials Annual Quarterly Free Cash Flow 2,598 1,921 919 In millions except "EPS". Currency in USD.
Page 3 of 5 Industry Classification NAICS Casino Hotels (721120) SIC Hotels and Motor Hotels (9111);Hotels and Motels (7011) ISIC Other Accommodation (5590) Operation Details Fiscal Year Ends 2017-12-31 CIK 1300514 Year Established Employees (31/12/2016) 49,000 Full Time Part Time Auditor (31/12/2016) Deloitte & Touche LLP Legal Advisor (04/11/2011) Paul, Weiss, Rifkind, Wharton & Garrison Key Executives Sheldon Gary Adelson/Treasurer; Chairman of the Board and Chief Executive Officer of Company and Las Vegas Sands, Inc.; Robert G. Goldstein/Director, President and Chief Operating Officer; Patrick Dumont/Director, Executive Vice President and Chief Financial Officer; Lawrence A. Jacobs/Executive Vice President and Global General Counsel and Secretary; Randy Hyzak/Senior Vice President and Chief Accounting Officer Company Profile Las Vegas Sands Corp operates fully integrated resorts with casino, hotel, entertainment. The company owns the Venetian Macao, Sands Macao, in Macau, the Marina Bay Sands resort in Singapore, the Venetian and Sands Bethlehem casinos in the United States. 30-day Avg Volume Market Cap Net Income Sales Sector Industry Stock Style Direct Investment Dividend Reinvestment 5.1Mil 56.1Bil 2.1Bil 12.5Bil Consumer Cyclical Resorts & Casinos 1 Large Value No No
Page 4 of 5 Industry Peers Morningstar Rating Market Cap $Mil Net Income $Mil P/S P/B P/E Dividend Yield% 5 Yr Rev CAGR% Med Oper. Margin% Interest Coverage Las Vegas Sands Corp QQ 56,124 2,104 4.5 9.5 26.8 4.1 3.9 24.3 9.2 1.6 Sands China Ltd (USD) 42,891 1,351 5.9 11.9 31.9 4.8 6.4 22.3 23.6 1.3 Sands China Ltd (USD) 42,891 1,351 5.9 11.9 31.7 4.8 6.4 22.3 23.6 1.3 Galaxy Entertainment Group Ltd (USD,HKD) 34,642 8,356 4.9 5.5 33.0 5.1 13.7 147.4 0.0 MGM Resorts International (USD) QQQ 18,926 591 1.8 3.0 33.1 1.3 3.8 11.6 2.8 2.1 Wynn Macau Ltd (USD,HKD) 17,141 1,886 4.5 68.2 68.6 2.5-5.6 23.5 3.1 15.4 Wynn Macau Ltd (USD,HKD) 17,141 1,886 4.5 67.4 67.8 1.7-5.6 23.5 3.1 15.4 Wynn Resorts Ltd (USD) QQQ 17,084 369 2.9 51.9 46.0 1.2-3.3 20.0 2.1 29.7 Melco Resorts and Entertainment Ltd (USD) QQ 12,963 309 2.5 4.6 42.0 1.0 3.4 12.4 1.3 1.3 Genting Singapore PLC (USD,SGD) 10,940 745 6.1 1.8 22.9 2.4-7.1 29.2 12.9 0.1 Genting Singapore PLC (USD,SGD) 10,940 745 6.8 2.1 25.8 2.2-7.1 29.2 12.9 0.1 MGM China Holdings Ltd (USD,HKD) 10,301 3,006 5.6 10.7 28.1 0.7-6.0 20.8 27.3 1.7 MGM China Holdings Ltd (USD,HKD) 10,301 3,006 5.5 10.5 27.7 1.3-6.0 20.8 27.3 1.7 Genting Bhd (USD,MYR) 8,815 2,401 0.0 0.0-0.2 25.4 11.4 0.6 Caesars Entertainment Corp (USD) 8,696-2,997 0.5-14.7 1.6-9.2 Genting Bhd (USD,MYR) 8,562 2,401 1.7 0.9 13.9 0.6-0.2 25.4 11.4 0.6 Genting Bhd (USD,MYR) 8,562 2,401 1.8 1.0 14.3 1.4-0.2 25.4 11.4 0.6 Vail Resorts Inc (USD) 8,335 244 4.4 5.9 33.2 2.0 13.2 15.0 7.4 0.9 Genting Malaysia Bhd (USD,MYR) 7,729 2,396 3.5 1.6 10.3 1.8 1.0 21.2 41.8 0.3 Crown Resorts Ltd (USD,AUD) 7,037 1,866 2.7 1.6 4.7 5.6 3.2 16.9 14.5 0.3 SJM Holdings Ltd (USD,HKD) 5,172 2,184 1.9 1.9 21.9 2.7-11.4 14.0 53.3 0.0 SJM Holdings Ltd (USD,HKD) 5,172 2,184 1.6 1.7 19.2 2.4-11.4 14.0 53.3 0.0 Guoco Group Ltd (USD) 4,401 784 2.6 0.6 6.0 3.6 1.7 29.7 11.6 0.3 Guoco Group Ltd (USD) 4,401 784 2.3 0.5 5.3 1.0 1.7 29.7 11.6 0.3 Hilton Grand Vacations Inc (USD) 4,299 182 2.6 12.9 23.6 21.1 11.1 3.3 Melco International Development Ltd (USD,HKD) 4,233 163 0.9 1.9 228.3 183.9-11.4 9.2 1.9 Boyd Gaming Corp (USD) 3,992 119 1.7 3.9 42.8 0.4-1.3 9.6 1.0 2.9 The Star Entertainment Group Ltd (USD,AUD) 3,941 264 2.1 1.5 18.7 3.2 8.7 13.4 9.9 0.3 Red Rock Resorts Inc (USD) 3,684 26 2.0 10.8 57.7 1.3 18.4 2.3 7.6 Marriott Vacations Worldwide Corp (USD) 3,676 168 1.9 3.9 23.0 1.0 2.2 11.9 7.8 1.0 NagaCorp Ltd (USD) 3,669 209 4.8 2.7 16.4 18.9 39.2 NagaCorp Ltd (USD) 3,669 209 4.3 2.5 14.7 3.7 18.9 39.2 GVC Holdings PLC (USD,EUR) 3,648-61 3.5 2.4 1.5 79.4 11.3-2.0 0.2 Penn National Gaming Inc (USD) 2,512 816 0.8 9.7 3.1 2.0 14.8 1.3 18.4 Bloomberry Resorts Corp (USD,PHP) 2,428 6,715 2.8 3.3 15.0 233.8-6.2 2.8 1.0 Eldorado Resorts Inc (USD) 2,354-14 1.5 2.8 9.1 1.6 2.6 La Quinta Holdings Inc (USD) 2,193 30 2.2 3.1 72.5 6.0 14.0 1.0 2.4 SkyCity Entertainment Group Ltd (USD,NZD) 1,972 54 3.3 2.7 58.2 4.7 1.7 22.9 6.2 0.4 SkyCity Entertainment Group Ltd (USD,NZD) 1,972 54 3.1 2.6 63.6 3.0 1.7 22.9 6.2 0.4 Pinnacle Entertainment Inc (USD) 1,965 31 0.7 79.8 13.1-0.5 Bains de Mer Monaco (USD,EUR) 1,502-24 2.6 1.8 4.3-7.0-59.4 0.1 Tropicana Entertainment Inc (USD) 1,370 91 1.6 1.4 15.3 7.1 9.0 6.3 0.2 888 Holdings PLC (USD) 1,369 11 2.7 15.1 128.5 1.0 9.5 11.6 Bluegreen Vacations Corp (USD) 1,277 84 1.9 4.8 17.0 0.9 10.4 25.9 5.0 1.9 Playa Hotels & Resorts NV (USD) 1,069-36 13.7 1.8 1.4 Melco Resorts and Entertainment (Philippines) Corp 963 486 1.4 7.0 618.7-983.5 0.5 3.7 (USD,PHP) Macau Legend Development Ltd (USD,HKD) 929-330 4.3 1.1 26.2-121.4 0.4 Empire Resorts Inc (USD) 851-40 12.3 3.4-0.8-28.4-56.7 1.9 Monarch Casino & Resort Inc (USD) 763 27 3.4 2.9 28.4 10.0 16.1 62.6 0.1 Banyan Tree Holdings Ltd (USD,SGD) 402 17 1.2 0.7-1.2 8.9 1.0 0.8 D/E
Page 5 of 5 Industry Peers Century Casinos Inc (USD) 256 14 1.4 1.7 15.0 14.5 8.0 5.9 0.4 Gamehost Inc (USD,CAD) 203 16 3.8 2.2 15.2 6.6-1.3 40.2 23.1 0.1 Sportech PLC (USD,GBP) 200 8 1.7 1.3 12.5-3.6 9.6 19.1 Full House Resorts Inc (USD) 70-3 0.4 1.3 6.7 4.0 0.5 1.8 Nevada Gold & Casinos Inc (USD) 41 1 0.6 1.2 36.6 6.1 3.6 2.8 0.3 Trans World Corp (USD) 35 4 0.7 0.6 8.2 7.8 11.0 38.0 0.3 Butler National Corp (USD) 18 1 0.4 0.8 18.7-0.8 3.1 8.6 0.1 Table Trac Inc (USD) 9 0 1.3 2.9 20.2 17.3-0.7 0.0 Mountain China Resorts (Holding) Ltd (USD,CAD) 5-9 0.4 17.3-61.9-0.6 MaryJane Group Inc (USD) 0-2 0.2-905.5-4.1 Summit Ascent Holdings Ltd (USD,HKD) -10 34.9-209.4 0.8 0.0 The Star Entertainment Group Ltd (USD,AUD) 264 8.7 13.4 9.9 0.3 China Star Entertainment Ltd (USD,HKD) -423 0.1 9.5-10.1 0.3 Reef Casino Trust (USD,AUD) 4 3.9 95.4 14.4 5.4 235.6 56.8 2.0 0.7 Sun International Ltd (USD,ZAR) -414 7.1 18.0 1.0 Andalusian Resorts and Spas Inc XRX International Entertainment Holding Group Inc Crown Resorts Ltd (USD,AUD) 1,866 2.6 1.6 4.6 6.3 3.2 16.9 14.5 0.3 Elsinore Corp (USD) -3 5.3 2.0 Greenway Technology LAACO Ltd 2.8 Archon Corp (USD) 0-11.7 0.7 0.3 0.6 Rotate Black Inc (USD) -3-354.0-0.8 Imperial Pacific International Holdings Ltd (USD,HKD) 1,010 107.9 73.3 53.4 3.0 20.0 0.4 Southwest Casino Corp (USD) -11 3.9-0.2 Chilco River Holdings Inc (USD) -3 27.2-10.5 0.0 Concorde Gaming Corp Galaxy Entertainment Group Ltd (USD,HKD) 8,356 5.1 13.7 147.4 0.0 Twin River Worldwide Holdings Inc Industry Average 7,345 825 2.6 8.8 73.7 2.1 25.6-20.4 10.0 3.9