Codere Online Luxembourg, S.A.
CDRO Consumer Cyclical Gambling
Codere Online Luxembourg, S.A.’s revenue for fiscal 2025 (year ended December 2025) was $238.1 million, up 9.61% from fiscal 2024. Revenue growth for five consecutive years, operating cash flow growth for three.
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Codere Online Luxembourg, S.A. (CDRO) Piotroski F-score
Codere Online Luxembourg, S.A.'s Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 1.70% | 5.27% | Pass | 1 |
| Positive operating cash flow | 18.68m | 4.27m | Pass | 1 |
| Rising return on assets | 1.70% | 5.27% | Fail | 0 |
| Cash flow above net income | 17.22m | 37.90k | Pass | 1 |
| Falling long-term leverage | 0.00 | 0.05 | Pass | 1 |
| Rising current ratio | 1.37 | 1.40 | Fail | 0 |
| No new shares issued | 45,495,000 | 45,483,000 | Fail | 0 |
| Rising gross margin | 100.00% | 100.00% | Fail | 0 |
| Rising asset turnover | 2.77 | 2.71 | Pass | 1 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| ACEL Accel Entertainment, Inc. compare | 6 |
| RSI Rush Street Interactive, Inc. compare | 6 |
| BRAG Bragg Gaming Group Inc. compare | 5 |
| CDRO Codere Online Luxembourg, S.A. | 5 |
| BRSL Brightstar Lottery compare | 4 |
| INSE Inspired Entertainment, Inc. compare | 4 |
| ROLR HIGH ROLLER TEC compare | 4 |
| MRDN Meridian Holdings, Inc. compare | 4 |
| GRSD Grandstand Limited compare | 4 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover