• Las Vegas Sands average debt/equity ratio for 2023 was 3.25, a 8.96% increase from 2022.
• Las Vegas Sands average debt/equity ratio for 2022 was 3.57, a 34.85% decline from 2021.
• Las Vegas Sands average debt/equity ratio for 2021 was 5.48, a 70.72% decline from 2020.

Debt/equity ratio can be defined as a measure of a company's financial leverage calculated by dividing its long-term debt by stockholders' equity.