Las Vegas Sands Corp.、合併損益表結構（季度數據）
|
截至 3 個月 |
2023年9月30日 |
|
2023年6月30日 |
|
2023年3月31日 |
|
2022年12月31日 |
|
2022年9月30日 |
|
2022年6月30日 |
|
2022年3月31日 |
|
2021年12月31日 |
|
2021年9月30日 |
|
2021年6月30日 |
|
2021年3月31日 |
|
2020年12月31日 |
|
2020年9月30日 |
|
2020年6月30日 |
|
2020年3月31日 |
|
2019年12月31日 |
|
2019年9月30日 |
|
2019年6月30日 |
|
2019年3月31日 |
|
2018年12月31日 |
|
2018年9月30日 |
|
2018年6月30日 |
|
2018年3月31日 |
|
|
|
賭場 |
71.84% | |
73.25% | |
72.69% | |
58.55% | |
63.38% | |
67.85% | |
66.49% | |
64.58% | |
62.19% | |
71.87% | |
72.32% | |
64.66% | |
58.02% | |
10.20% | |
66.05% | |
70.82% | |
71.42% | |
70.82% | |
72.98% | |
70.82% | |
71.56% | |
71.03% | |
72.62% | |
|
|
房間 |
12.24% | |
11.64% | |
11.46% | |
13.79% | |
12.24% | |
9.28% | |
10.07% | |
10.32% | |
11.67% | |
9.80% | |
8.03% | |
12.22% | |
12.97% | |
14.29% | |
15.04% | |
12.37% | |
13.51% | |
12.87% | |
12.34% | |
12.52% | |
12.90% | |
12.66% | |
12.43% | |
|
|
食品和飲料 |
5.58% | |
5.63% | |
5.85% | |
9.22% | |
8.16% | |
6.03% | |
5.62% | |
5.06% | |
4.90% | |
4.26% | |
4.68% | |
6.81% | |
9.22% | |
12.24% | |
7.80% | |
6.90% | |
6.12% | |
6.72% | |
6.36% | |
6.42% | |
5.78% | |
6.63% | |
6.37% | |
|
|
商場 |
7.19% | |
6.77% | |
7.64% | |
14.68% | |
11.84% | |
14.16% | |
15.80% | |
17.86% | |
19.25% | |
12.62% | |
13.04% | |
13.35% | |
14.16% | |
42.86% | |
5.78% | |
6.13% | |
5.38% | |
4.98% | |
4.39% | |
5.76% | |
5.04% | |
4.97% | |
4.36% | |
|
|
會議、零售和其他 |
3.15% | |
2.71% | |
2.36% | |
3.76% | |
4.38% | |
2.68% | |
2.01% | |
2.18% | |
1.98% | |
1.45% | |
1.92% | |
2.97% | |
5.63% | |
20.41% | |
5.33% | |
3.79% | |
3.57% | |
4.62% | |
3.92% | |
4.49% | |
4.72% | |
4.72% | |
4.22% | |
|
|
淨收入 |
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
|
|
賭場 |
-39.46% | |
-40.68% | |
-41.23% | |
-41.99% | |
-40.80% | |
-42.58% | |
-49.63% | |
-46.13% | |
-52.63% | |
-48.93% | |
-48.33% | |
-45.38% | |
-53.41% | |
-222.45% | |
-39.67% | |
-37.50% | |
-38.15% | |
-39.26% | |
-39.47% | |
-40.35% | |
-39.86% | |
-40.30% | |
-38.31% | |
|
|
房間 |
-2.86% | |
-2.79% | |
-2.64% | |
-4.30% | |
-4.08% | |
-3.92% | |
-4.56% | |
-3.97% | |
-4.67% | |
-3.58% | |
-3.51% | |
-5.93% | |
-10.41% | |
-51.02% | |
-5.16% | |
-3.19% | |
-3.35% | |
-3.39% | |
-3.02% | |
-3.11% | |
-3.23% | |
-3.36% | |
-3.07% | |
|
|
食品和飲料 |
-4.58% | |
-4.60% | |
-4.91% | |
-8.77% | |
-8.26% | |
-6.99% | |
-6.89% | |
-5.75% | |
-6.42% | |
-5.12% | |
-5.94% | |
-7.33% | |
-13.99% | |
-67.35% | |
-7.80% | |
-5.36% | |
-4.98% | |
-5.22% | |
-4.88% | |
-5.01% | |
-4.72% | |
-5.09% | |
-4.81% | |
|
|
商場 |
-0.82% | |
-0.83% | |
-0.99% | |
-1.79% | |
-1.59% | |
-1.82% | |
-1.91% | |
-1.69% | |
-1.98% | |
-1.36% | |
-1.25% | |
-1.57% | |
-2.22% | |
-11.22% | |
-0.95% | |
-0.68% | |
-0.58% | |
-0.54% | |
-0.47% | |
-0.72% | |
-0.56% | |
-0.54% | |
-0.47% | |
|
|
會議、零售和其他 |
-1.86% | |
-1.97% | |
-1.84% | |
-2.69% | |
-2.69% | |
-2.30% | |
-2.33% | |
-2.28% | |
-2.45% | |
-1.62% | |
-1.84% | |
-2.79% | |
-5.80% | |
-27.55% | |
-3.14% | |
-2.19% | |
-2.22% | |
-2.25% | |
-2.19% | |
-2.39% | |
-2.70% | |
-2.36% | |
-2.35% | |
|
|
收入成本 |
-49.59% |
|
-50.87% |
|
-51.60% |
|
-59.53% |
|
-57.41% |
|
-57.61% |
|
-65.32% |
|
-59.82% |
|
-68.14% |
|
-60.61% |
|
-60.87% |
|
-63.00% |
|
-85.84% |
|
-379.59% |
|
-56.73% |
|
-48.93% |
|
-49.29% |
|
-50.66% |
|
-50.03% |
|
-51.57% |
|
-51.07% |
|
-51.65% |
|
-49.01% |
|
|
|
毛利（虧損） |
50.41% |
|
49.13% |
|
48.40% |
|
40.47% |
|
42.59% |
|
42.39% |
|
34.68% |
|
40.18% |
|
31.86% |
|
39.39% |
|
39.13% |
|
37.00% |
|
14.16% |
|
-279.59% |
|
43.27% |
|
51.07% |
|
50.71% |
|
49.34% |
|
49.97% |
|
48.43% |
|
48.93% |
|
48.35% |
|
50.99% |
|
|
|
（準備金）收回信貸損失 |
-0.11% | |
-0.20% | |
0.28% | |
-0.09% | |
-0.80% | |
-0.19% | |
-0.42% | |
0.60% | |
-0.35% | |
-0.17% | |
-0.33% | |
-3.40% | |
-4.27% | |
-17.35% | |
-1.01% | |
-0.43% | |
-0.12% | |
-0.21% | |
-0.11% | |
-0.26% | |
-0.15% | |
-0.21% | |
0.45% | |
|
|
一般和行政 |
-10.38% | |
-10.98% | |
-11.84% | |
-21.67% | |
-23.68% | |
-22.78% | |
-23.12% | |
-16.27% | |
-26.02% | |
-18.67% | |
-18.81% | |
-21.73% | |
-44.88% | |
-267.35% | |
-17.90% | |
-11.20% | |
-11.20% | |
-11.28% | |
-10.12% | |
-11.63% | |
-10.85% | |
-11.14% | |
-9.64% | |
|
|
企業 |
-1.75% | |
-2.36% | |
-2.69% | |
-6.09% | |
-5.27% | |
-5.26% | |
-6.26% | |
-4.17% | |
-7.47% | |
-4.77% | |
-4.10% | |
-2.01% | |
-5.63% | |
-54.08% | |
-3.31% | |
-1.45% | |
-1.82% | |
-1.53% | |
-4.17% | |
-1.67% | |
-1.63% | |
-1.00% | |
-1.56% | |
|
|
開業前 |
-0.11% | |
-0.31% | |
-0.09% | |
-0.18% | |
-0.40% | |
-0.29% | |
-0.42% | |
-0.40% | |
-0.70% | |
-0.34% | |
-0.42% | |
-0.44% | |
-0.85% | |
-4.08% | |
-0.28% | |
-0.31% | |
-0.28% | |
-0.30% | |
-0.11% | |
-0.03% | |
-0.06% | |
-0.06% | |
-0.03% | |
|
|
發展 |
-1.57% | |
-2.12% | |
-1.98% | |
-3.13% | |
-2.59% | |
-2.11% | |
-6.36% | |
-4.96% | |
-1.52% | |
-3.15% | |
-0.75% | |
0.00% | |
-0.51% | |
-9.18% | |
-0.34% | |
-0.31% | |
-0.12% | |
-0.12% | |
-0.14% | |
-0.09% | |
-0.12% | |
-0.06% | |
-0.08% | |
|
|
折舊和攤銷 |
-11.20% | |
-11.33% | |
-12.92% | |
-22.92% | |
-25.87% | |
-24.50% | |
-28.00% | |
-26.39% | |
-30.57% | |
-21.99% | |
-21.32% | |
-25.57% | |
-49.83% | |
-290.82% | |
-16.27% | |
-8.29% | |
-8.74% | |
-8.67% | |
-8.26% | |
-8.32% | |
-8.42% | |
-8.30% | |
-7.38% | |
|
|
土地租賃權益的攤銷 |
-0.54% | |
-0.55% | |
-0.66% | |
-1.16% | |
-1.39% | |
-1.34% | |
-1.48% | |
-1.39% | |
-1.63% | |
-1.19% | |
-1.17% | |
-1.22% | |
-2.39% | |
-13.27% | |
-0.79% | |
-0.40% | |
-0.43% | |
-0.42% | |
-0.25% | |
-0.26% | |
-0.24% | |
-0.27% | |
-0.25% | |
|
|
資產處置損失或減值 |
-0.14% | |
-0.16% | |
-0.66% | |
-0.09% | |
-0.20% | |
0.00% | |
-0.64% | |
-0.89% | |
-0.47% | |
-0.94% | |
-0.25% | |
-1.05% | |
-9.90% | |
-5.10% | |
-0.28% | |
-2.05% | |
-0.34% | |
0.00% | |
-0.19% | |
-1.04% | |
-0.12% | |
-3.18% | |
-0.14% | |
|
|
營業利潤 （虧損） |
24.62% |
|
21.13% |
|
17.83% |
|
-14.86% |
|
-17.61% |
|
-14.07% |
|
-32.03% |
|
-13.69% |
|
-36.87% |
|
-11.85% |
|
-8.03% |
|
-18.41% |
|
-104.10% |
|
-940.82% |
|
3.09% |
|
26.62% |
|
27.66% |
|
26.81% |
|
26.63% |
|
25.15% |
|
27.34% |
|
24.13% |
|
32.36% |
|
|
|
利息收入 |
2.83% | |
2.99% | |
3.30% | |
5.37% | |
3.78% | |
1.34% | |
0.42% | |
0.10% | |
0.12% | |
0.09% | |
0.08% | |
0.09% | |
0.51% | |
4.08% | |
0.73% | |
0.48% | |
0.62% | |
0.51% | |
0.55% | |
0.66% | |
0.65% | |
0.27% | |
0.14% | |
|
|
利息支出，扣除資本化金額 |
-7.16% | |
-8.26% | |
-10.28% | |
-17.99% | |
-18.21% | |
-15.50% | |
-16.54% | |
-15.08% | |
-18.32% | |
-13.47% | |
-12.88% | |
-13.09% | |
-23.38% | |
-120.41% | |
-7.35% | |
-3.82% | |
-4.22% | |
-4.29% | |
-3.87% | |
-3.97% | |
-3.74% | |
-2.82% | |
-2.49% | |
|
|
其他收入（支出） |
0.14% | |
0.55% | |
-1.65% | |
1.79% | |
0.20% | |
-0.86% | |
-2.33% | |
-1.19% | |
-1.40% | |
0.85% | |
-1.42% | |
-0.70% | |
-0.68% | |
-3.06% | |
2.08% | |
0.88% | |
-0.22% | |
0.60% | |
-0.58% | |
-0.23% | |
0.47% | |
1.33% | |
-0.73% | |
|
|
出售金沙伯利恆的收益 |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
16.68% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
|
|
修改或提前償還債務的損失 |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
-15.99% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
-0.74% | |
0.00% | |
0.00% | |
-0.26% | |
-1.54% | |
0.00% | |
-0.08% | |
|
|
稅前持續經營收入（虧損） |
20.43% |
|
16.40% |
|
9.20% |
|
-25.69% |
|
-31.84% |
|
-29.09% |
|
-50.48% |
|
-29.86% |
|
-72.46% |
|
-24.38% |
|
-22.24% |
|
-32.11% |
|
-127.65% |
|
-1,060.20% |
|
-1.46% |
|
24.17% |
|
23.11% |
|
40.31% |
|
22.74% |
|
21.35% |
|
23.19% |
|
22.92% |
|
29.20% |
|
|
|
所得稅（費用）福利 |
-4.36% | |
-1.93% | |
-2.36% | |
1.61% | |
-5.97% | |
-10.53% | |
-0.21% | |
-1.39% | |
3.15% | |
0.51% | |
-1.17% | |
-0.70% | |
2.90% | |
55.10% | |
-1.40% | |
-1.85% | |
-2.52% | |
-7.08% | |
-2.33% | |
-22.50% | |
-2.46% | |
-2.45% | |
15.95% | |
|
|
來自持續經營業務的凈收入（虧損） |
16.06% |
|
14.48% |
|
6.84% |
|
-24.08% |
|
-37.81% |
|
-39.62% |
|
-50.69% |
|
-31.25% |
|
-69.31% |
|
-23.87% |
|
-23.41% |
|
-32.81% |
|
-124.74% |
|
-1,005.10% |
|
-2.86% |
|
22.31% |
|
20.58% |
|
33.23% |
|
20.41% |
|
-1.15% |
|
20.73% |
|
20.47% |
|
45.15% |
|
|
|
非持續經營業務的收益（虧損），扣除稅項 |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
4.88% | |
11.71% | |
11.55% | |
3.24% | |
-5.18% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
|
|
出售已終止經營業務的收益（不含稅） |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
303.39% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
|
|
處置已終止經營業務收益的調整（不含稅） |
0.00% | |
0.00% | |
0.00% | |
-0.45% | |
-0.10% | |
-0.29% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
0.00% | |
|
|
來自已終止經營業務的收益（虧損），扣除稅項 |
0.00% |
|
0.00% |
|
0.00% |
|
-0.45% |
|
-0.10% |
|
-0.29% |
|
308.27% |
|
11.71% |
|
11.55% |
|
3.24% |
|
-5.18% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
0.00% |
|
|
|
淨收入（虧損） |
16.06% |
|
14.48% |
|
6.84% |
|
-24.53% |
|
-37.91% |
|
-39.90% |
|
257.58% |
|
-19.54% |
|
-57.76% |
|
-20.63% |
|
-28.60% |
|
-32.81% |
|
-124.74% |
|
-1,005.10% |
|
-2.86% |
|
22.31% |
|
20.58% |
|
33.23% |
|
20.41% |
|
-1.15% |
|
20.73% |
|
20.47% |
|
45.15% |
|
|
|
持續經營業務非控制性權益應占凈（收入）虧損 |
-2.47% | |
-2.20% | |
0.09% | |
9.40% | |
14.13% | |
12.15% | |
10.71% | |
7.34% | |
14.82% | |
4.26% | |
5.35% | |
6.72% | |
28.33% | |
168.37% | |
2.81% | |
-4.39% | |
-4.18% | |
-4.62% | |
-4.44% | |
-3.74% | |
-3.80% | |
-3.63% | |
-4.47% | |
|
|
歸屬於拉斯維加斯金沙集團的凈收益（虧損） |
13.60% |
|
12.27% |
|
6.93% |
|
-15.13% |
|
-23.78% |
|
-27.75% |
|
268.29% |
|
-12.20% |
|
-42.94% |
|
-16.37% |
|
-23.24% |
|
-26.09% |
|
-96.42% |
|
-836.73% |
|
-0.06% |
|
17.93% |
|
16.40% |
|
28.61% |
|
15.96% |
|
-4.89% |
|
16.93% |
|
16.83% |
|
40.68% |
|
根據報告：
10-Q (報告日期： 2023-09-30), 10-Q (報告日期： 2023-06-30), 10-Q (報告日期： 2023-03-31), 10-K (報告日期： 2022-12-31), 10-Q (報告日期： 2022-09-30), 10-Q (報告日期： 2022-06-30), 10-Q (報告日期： 2022-03-31), 10-K (報告日期： 2021-12-31), 10-Q (報告日期： 2021-09-30), 10-Q (報告日期： 2021-06-30), 10-Q (報告日期： 2021-03-31), 10-K (報告日期： 2020-12-31), 10-Q (報告日期： 2020-09-30), 10-Q (報告日期： 2020-06-30), 10-Q (報告日期： 2020-03-31), 10-K (報告日期： 2019-12-31), 10-Q (報告日期： 2019-09-30), 10-Q (報告日期： 2019-06-30), 10-Q (報告日期： 2019-03-31), 10-K (報告日期： 2018-12-31), 10-Q (報告日期： 2018-09-30), 10-Q (報告日期： 2018-06-30), 10-Q (報告日期： 2018-03-31).
從該分析期間內的財務資料可觀察到Las Vegas Sands Corp.公司在營運績效及收益結構方面存在明顯的波動與變化。尤其值得注意的是，2020年第二季開始，公司的盈利能力大幅受挫，顯示受到COVID-19疫情及其造成的限制措施影響，導致營收和淨利潤顯著下降。
在收入來源比例方面，賭場部分長期佔據主要收入比重，但在2020年第二季出現異常波動，淨賺比例陷入大幅負值，反映出疫情導致賭場營運受阻。此外，房間、食品飲料、商場與會議零售等業務的收入比例相較前幾季有較為穩定的變動，尤其戰略性地呈現較小幅度的波動，但在2020年及2021年期間，這些項目亦受到影響，比例降低，表明整體營收結構受到疫情衝擊。
從營業利潤與毛利率角度來看，2018年至2019年間，公司維持較為穩定的盈利水平，毛利率約在48%至51%之間。然而，自2020年起，營業利潤大幅轉為虧損，尤其在2020年第二季出現嚴重虧損（營業損失超過940%），顯示疫情對營運造成巨大衝擊。同時，毛利率亦一度下降至負值，反映公司在疫情期間面臨高成本與免稅或營收大幅下降的雙重挑戰。
在營運成本與支出方面，2020年前的成本控制較為有效，但疫情期間，折舊及攤銷費用亦有相應增加，可能反映資產減值調整。此外，非經常性損益，如資產處置損失、稅務調整等，於疫情期間亦有一定波動，進一步影響公司淨利潤的變化。
在淨收入與股東權益貢獻方面，疫情期間淨收入經常為負值，特別是在2020年第二季，出現史上極端的虧損，凸顯經營困難。隨著2021年恢復跡象逐步浮現，淨利潤逐漸改善，但仍未恢復至疫情前的穩定水準。值得留意的是，疫情導致的營收結構改變及經營成本升高，影響公司整體盈利能力與財務穩健性。
綜合來說，雖然該公司在疫情前展現出較為穩定的營運績效，疫情則造成嚴重的盈餘和現金流壓力。未來若能有效控制營運成本，並抓住市場復甦契機，有可能逐步恢復至疫情前的盈利水準，但目前仍需關注其財務狀況的變化與風險管理策略的調整。
