Light & Wonder, Inc. LNWO

77.14 (2.86) (3.57%) as of 25 Sep
Market cap
$7.0B
P/E
22.6×
Growth Flags show if company had growth for consecutive years

Insider Decisions

Total sells 37.36
in millions of $
Nov 25 Feb 26 May 26 Aug 26
Buy — — — — — — — — — — — —
Sell — — 4 4 — 5 1 — 2 — 3 1
Insider Ownership 0.00%

Capital & Financial Ratios

Market Cap 7,030.00
Revenue 3,349.00
Net Income 271.00
Free Cash Flow 555.00
Net Debt 4,886.00
Current Ratio 1.73
Debt/Equity 16.99
P/E ratio 22.65
P/S ratio 1.78
P/B ratio 19.79
Past 5Y EPS Growth (37.11%)
This Y EPS Growth 36.78%
Next Y EPS Growth 22.50%
Next 5Y EPS Growth 27.78%
in millions of $

Dividends

Payout Ratio 0.00
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2028 Powerpack
2027 Powerpack
2026 Powerpack
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions in italic, special payouts not included in total or ratios

Assets vs Liabilities

2023 2024 2025 Q'26
Cash 515 306 261 246
Receivables 506 585 689 640
Inventory 177 158 169 193
Other — — — —
1,311 1,183 1,283 1,240
2023 2024 2025 Q'26
Payables 241 216 189 199
ST’ Debt 22 23 53 63
Other — — — —
696 735 803 715
in millions of $

Compound Annual Growth

10y 5y 3y
Sales 1.85% 14.30% 9.68%
Cash Flow 6.72% 11.01% 0.00%
Earnings 0.00% 0.00% (57.81%)
Book Value 0.00% 0.00% (40.46%)

Revenue

Mar Jun Sep Dec Year
’26 790 828 — — —
’25 774 809 841 890 3,314
’24 756 818 817 797 3,188
’23 670 731 731 770 2,902
’22 572 610 648 682 2,512
’21 453 581 539 580 2,153
’20 725 539 432 3 1,699
in millions of $ · fiscal quarters ending in the months shown

Operating Cash Flow

Mar Jun Sep Dec Year
’26 139 241 — — —
’25 185 106 184 319 794
’24 171 141 118 202 632
’23 185 34 204 167 590
’22 94 (37) (351) (87) (381)
’21 123 149 187 226 685
’20 120 52 140 159 471
in millions of $ · fiscal quarters ending in the months shown

Free Cash Flow

Mar Jun Sep Dec Year
’26 65 158 — — —
’25 124 28 105 227 484
’24 105 54 47 132 338
’23 132 (25) 134 107 348
’22 51 (94) (409) (145) (597)
’21 88 109 144 173 514
’20 89 13 132 100 334
in millions of $ · fiscal quarters ending in the months shown

EPS

Mar Jun Sep Dec Year
’26 0.66 1.53 — — —
’25 0.94 1.11 1.34 (0.19) 3.26
’24 0.88 0.90 0.71 1.20 3.68
’23 0.23 (0.01) 0.81 0.73 1.75
’22 0.26 34.61 3.42 0.32 38.78
’21 (0.16) 1.10 1.84 0.95 3.77
’20 (1.69) (2.15) (1.23) (0.95) (6.02)
fiscal quarters ending in the months shown

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell
2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028
4.56 13.73 14.79 16.02 3.76 36.89 40.10 53.77 76.52 69.56

Analyst estimates 2026–2028

Powerpack
Low Price
16.10 54.95 62.80 31.63 43.87 90.20 70.59 89.02 115.00 113.95
High Price
8,400 8,600 9,700 9,800 9,000 9,500 6,100 6,500 6,800 6,800
Employees
0 0 0 0 0 0 0 0 0 0
Revenue/Emp
2,883 3,084 3,363 2,388 1,699 2,153 2,512 2,902 3,188 3,314
Revenue
61.63% 62.26% 62.68% 68.76% 64.10% 71.71% 70.62% 69.95% 70.80% 73.30%
Gross Margin
(479) (227) (339) (377) (804) (294) (163) 205 421 365
EBT
(16.60%) (7.36%) (10.08%) (15.79%) (47.32%) (13.66%) (6.49%) 7.06% 13.21% 11.01%
EBT Margin
(354) (242) (352) (118) (548) 390 3,697 180 336 276
Net Income
808 683 690 542 503 398 420 384 361 406
Depreciation
33.03 34.65 36.96 25.68 17.88 22.43 26.44 31.89 35.82 39.93
Revenue/Sh
(4.05) (2.72) (3.87) (1.40) (6.02) 3.86 38.78 1.79 3.77 3.32
Earnings/Sh
4.80 5.70 3.80 5.87 4.96 7.14 (4.01) 6.48 7.10 9.57
Cash Flow/Sh
(2.93) (3.19) (3.86) (2.41) (1.44) (1.78) (2.27) (2.66) (3.30) (3.73)
Capex/Sh
1.86 2.51 (0.05) 3.46 3.52 5.35 (6.28) 3.82 3.80 5.83
Free CF/Sh
(22.17) (22.78) (27.07) (22.67) (26.57) (21.94) 12.22 8.41 7.15 2.95
Book Value/Sh
87 89 91 93 95 96 95 91 89 83
Shares
0.00 0.00 0.00 0.00 0.00 17.36 1.50 45.08 22.91 31.53
PE Ratio
0.42 1.44 0.48 1.04 2.32 2.98 2.20 2.54 2.41 2.58
PS Ratio
0.00 0.00 0.00 0.00 0.00 0.00 4.76 9.65 12.09 34.92
PB Ratio
3.18 4.03 3.11 4.54 7.22 6.73 3.37 3.70 3.53 4.06
EV/Sales
109.79 86.44 (123.90) 44.73 48.20 33.32 (12.50) 40.00 43.51 33.26
EV/FCF
419 507 346 546 471 685 (381) 590 632 794
Op' Cash Flow
(256) (284) (351) (224) (137) (171) (216) (242) (294) (310)
Capex
163 223 (5) 322 334 514 (597) 348 338 484
FCF
424 1,137 622 849 1,349 758 1,072 615 448 480
Working Cap'
8,074 8,777 9,037 8,725 9,303 8,690 3,894 3,874 3,870 5,163
Total Debt
7,934 7,959 8,830 8,361 8,330 8,064 2,933 3,359 3,564 4,902
Net Debt
(1,936) (2,027) (2,463) (2,108) (2,524) (2,106) 1,161 765 636 245
Sh' Equity
(4.77%) (3.27%) (4.56%) (1.67%) (7.21%) 4.68% 52.91% 2.82% 6.12% 4.65%
ROA
1.36% 4.15% 2.61% 2.90% (2.64%) 1.15% 4.17% 7.85% 9.94% 8.29%
ROIC
20.62% 12.21% 15.68% 5.69% 24.57% (16.03%) (777.78%) 16.93% 47.97% 62.66%
ROE
predictions in italic, sparklines do not include predictions

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Light & Wonder, Inc. (LNWO) key facts

  • Light & Wonder, Inc. (LNWO) is a Gambling company in the Consumer Cyclical sector.
  • Light & Wonder, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 3.95% from fiscal 2024.
  • Net income was $276.0 million, or $3.32 per share (basic), a net margin of 8.33%.
  • As of September 25, 2026, LNWO traded at $77.14, a market capitalization of $7.0 billion.
  • At that price the stock trades at 22.6× trailing-twelve-month earnings and 1.8× sales.
  • Return on equity was 62.7% and debt-to-equity 16.99.

Source: company filings (standardised) and stockrow calculations.

Light & Wonder, Inc. (LNWO) Latest News

News by impact score

Fine-tune

4 Aug

3

Light & Wonder, Inc. reported its financial results for the second quarter of 2026. Quarterly results update financial metrics that can shift near-term investor views and valuation.

13 Jul

3

Light & Wonder details Q2 FY26 investor conference call, financial outlook and share repurchase update. Forward-looking financial outlook and share repurchase plans can moderately shift investor sentiment and near-term valuation.

9 May

4

Analysts rework valuation assumptions for Light & Wonder (LNWO), shifting the investment narrative around the company's future prospects. Analysts' reworked valuation assumptions signal a significant shift in investor sentiment and market dynamics for Light & Wonder.

6 May

4

Light & Wonder, Inc. reported first quarter 2026 results, highlighting financial performance across its gaming and digital operations. Quarterly earnings reveal key financial metrics that significantly influence stock performance and investor outlook.

3

Light & Wonder (LNWO) Q1 earnings and revenues missed analyst estimates. Q1 earnings miss moderately impacts financial performance and investor sentiment.

26 Feb

3

Light & Wonder (ASX:LNW) posted revenue growth alongside a quarterly loss and executed heavy share buybacks, sparking debate on investor reactions to mixed financial signals. Revenue growth provides positivity, but quarterly loss and buybacks create balanced, moderately noticeable effects on financial trajectory and sentiment.

25 Feb

4

Light & Wonder Inc. (LNWO) reported record revenue in Q4 2025 earnings call, highlighting strategic initiatives amid strong financial performance. Record revenue and strategic highlights indicate major positive shifts in financials and positioning for LNWO.

24 Feb

4

Light & Wonder, Inc. (LNWO) surpassed Q4 earnings estimates, posting stronger-than-expected results that highlight robust financial performance. Surpassing Q4 earnings estimates signals strong financial health, likely boosting stock price and investor sentiment significantly.

4

Light & Wonder, Inc. reported fourth quarter and full year 2025 financial results. Quarterly and annual earnings reports signal financial health and directly sway investor sentiment and stock trajectory.

3

Light & Wonder (LNWO) Q4 earnings key metrics compared to analyst estimates, highlighting performance against expectations. Q4 earnings comparisons influence financial performance and short-term investor sentiment without fundamentally altering long-term trajectory.

3

Light & Wonder, Inc. (LNWO) released Q4 earnings snapshot detailing quarterly financial performance. Q4 earnings snapshot reveals financial results influencing short-term market sentiment and valuation.

10 Feb

3

Red Rock Resorts reported Q4 earnings and revenue that exceeded analysts' expectations, driven by strong performance in its gaming and hospitality segments. The company highlighted increased visitation and spending at its properties, contributing to a robust financial outlook. Management expressed optimism about future growth, citing ongoing investments and strategic initiatives aimed at enhancing customer experience and operational efficiency. Strong financial performance and strategic initiatives may influence market sentiment and competitive positioning.

1 Feb

3

Light & Wonder, Inc. (LNWO) is highlighted among three ASX stocks that are estimated to be significantly undervalued, with intrinsic values projected to be 13.2% to 25.1% below current market prices. This valuation suggests potential investment opportunities for stakeholders looking for stocks with favorable growth prospects. The analysis indicates that these stocks, including LNWO, may offer attractive entry points for investors seeking to capitalize on market inefficiencies. The identification of undervalued stocks may influence market sentiment and investment strategies but is not expected to fundamentally alter the company's trajectory.

3

Light & Wonder, Inc. (LNWO) has experienced recent share price gains, prompting discussions about the attractiveness of its current pricing. Analysts are evaluating whether the stock's upward movement reflects a sustainable trend or if it has outpaced its intrinsic value. Investors are advised to consider market conditions and company fundamentals before making decisions. Recent share price gains may influence investor sentiment and market positioning but are not expected to fundamentally alter the company's trajectory.

3

Light & Wonder, Inc. (LNWO) has experienced notable share price momentum recently, prompting a reassessment of its valuation. Analysts are evaluating the implications of this price movement on the company's financial health and market position. Factors such as recent strategic initiatives and market trends are being considered to gauge future performance. Recent share price momentum indicates a moderately noticeable influence on the company's market positioning and financial performance.

12 Jan

3

Alicia Lechtenberger has been appointed as the Vice President of Sales & Marketing at Passport Technology, a subsidiary of Light & Wonder, Inc. Her extensive experience in the gaming and technology sectors is expected to enhance Passport Technology's growth and market presence. Lechtenberger's role will focus on driving sales strategies and marketing initiatives to expand the company's offerings in the gaming industry. Lechtenberger's appointment may positively influence sales and marketing strategies, impacting the company's competitive positioning.

11 Jan

3

Light & Wonder, Inc. and Aristocrat have reached a resolution in their litigation, which involved disputes over intellectual property and business practices. The agreement is expected to benefit both companies and allow them to focus on their core operations without the distraction of ongoing legal battles. Details of the settlement have not been disclosed, but both parties expressed satisfaction with the outcome. The resolution of litigation may positively influence Light & Wonder's operational focus and market sentiment, but its overall impact on long-term performance is expected to be limited.

9 Jan

3

Hacksaw Gaming has expanded its partnership with bet365 to launch its games in Pennsylvania, enhancing the online gaming experience for players in the state. This expansion includes popular titles from Hacksaw Gaming, which are now available on bet365's platform, aiming to attract more users and increase engagement. The collaboration is expected to strengthen Hacksaw Gaming's presence in the U.S. market, particularly in Pennsylvania, a key state for online gambling. The expansion into Pennsylvania is likely to moderately influence market positioning and financial performance for Hacksaw Gaming and its partners.

28 Dec

3

Light & Wonder, Inc. (LNWO) is highlighted among three ASX stocks potentially undervalued in the market. Analysts suggest that the company's strategic initiatives and market positioning may lead to a reassessment of its value. Investors are encouraged to consider these stocks as they may offer growth opportunities based on their estimated worth. The mention of potential undervaluation indicates a moderately noticeable influence on market sentiment and investor interest.

9 Dec

3

Light & Wonder, Inc. (LNWO) is highlighted in a report indicating that ASX stocks, including LNWO, are estimated to be up to 48.3% below their intrinsic value. This suggests potential undervaluation in the market, which could attract investor interest and influence stock performance moving forward. The indication of significant undervaluation may influence market sentiment and investor interest, but the overall effect is expected to be somewhat limited.

27 Nov

3

Light & Wonder, Inc. (LNWO) is highlighted among three ASX stocks trading significantly below their intrinsic value, with estimates suggesting a potential upside of up to 40.9%. This valuation discrepancy indicates that the stock may be undervalued in the current market, presenting a potential investment opportunity for investors looking for growth in the gaming and entertainment sector. The identification of LNWO as undervalued suggests a moderately noticeable influence on its market performance and investor sentiment.

26 Nov

3

Light & Wonder, Inc. (LNWO) is highlighted among ASX stocks with significant estimated discounts, with potential undervaluation reaching up to 49.5% below intrinsic value. This suggests a favorable investment opportunity for those looking to capitalize on perceived market inefficiencies. The analysis indicates that several companies, including LNWO, may be trading below their true worth, prompting investor interest in these undervalued assets. The identification of LNWO as undervalued may influence investor sentiment and market positioning but is not expected to drastically alter its overall trajectory.

14 Nov

4

Light & Wonder, Inc. (LNWO) is implementing an aggressive stock buyback program and has been added to key market indices, which could enhance its appeal to investors. The buyback aims to reduce share count and increase earnings per share, while the index inclusion may attract institutional investors. These strategic moves are expected to positively influence market perception and investor sentiment towards the company. The aggressive buyback and index inclusion are significant strategic moves that could enhance investor sentiment and alter the company's market trajectory.

13 Nov

4

Light & Wonder, Inc. (LNW) reported its Q3 results, showcasing significant developments in its gaming solutions segment. The company highlighted growth in revenue and improvements in operational efficiency, driven by new product launches and strategic partnerships. Analysts noted the positive trajectory in market share and customer engagement, indicating a strong competitive position. The results reflect LNW's commitment to innovation and adapting to market demands, positioning it favorably for future growth. The Q3 results indicate significant growth and strategic advancements that could alter the company's trajectory and investor sentiment.

4

Light & Wonder, Inc. (LNW) stock is experiencing a significant surge due to positive developments in the gaming and entertainment sector. The company has announced strategic partnerships and innovative product launches that are expected to enhance its market position. Additionally, favorable market conditions and investor sentiment are contributing to the stock's upward momentum, reflecting growing confidence in LNW's future prospects. Strategic partnerships and product innovations are likely to significantly impact the company's future performance and market position.

12 Nov

4 transcript

Light & Wonder, Inc. (LNW) addressed key analyst questions during its Q3 earnings call, focusing on financial performance, product development, and market strategies. The company highlighted growth in its gaming segment and discussed plans for future innovations. Analysts sought clarity on revenue projections and competitive positioning in the evolving gaming landscape. Management provided insights into operational efficiencies and strategic partnerships aimed at enhancing market presence. Overall, the call emphasized LNW's commitment to leveraging technology for growth and maintaining a strong competitive edge. Significant strategic moves and product innovations discussed could alter the company's trajectory and investor sentiment.

10 Nov

4

Light & Wonder, Inc. reported strong Q3 results driven by margin expansion and recurring revenue, leading to increased market optimism. The company's strategic focus on enhancing operational efficiency and expanding its product offerings has positioned it favorably within the gaming industry. Analysts highlight the potential for sustained growth as LNW continues to capitalize on its recurring revenue model, which is expected to provide stability and predictability in earnings. Overall, the positive financial performance and strategic initiatives have bolstered investor confidence in the company's future prospects. Significant margin expansion and a focus on recurring revenue are likely to enhance future financial performance and investor sentiment.

7 Nov

4

Recent analyst updates and business developments have led to a shift in the narrative surrounding Light & Wonder, Inc. (LNW). Analysts are reassessing the company's growth potential and market position, indicating a more favorable outlook. This change is attributed to strategic initiatives and improved financial metrics, which may enhance investor confidence and market performance. Analyst updates and strategic initiatives are likely to significantly impact investor sentiment and the company's future trajectory.

4

Light & Wonder, Inc. reported strong Q3 earnings growth alongside significant share buybacks, prompting a reevaluation of its valuation. The company's strategic moves are seen as a positive signal for future performance, potentially enhancing investor confidence and market positioning. Significant share buybacks and earnings growth are likely to positively influence investor sentiment and the company's market trajectory.

6 Nov

4

Light & Wonder, Inc. (LNW) shares are experiencing an uptick due to positive market sentiment following recent strategic developments. The company has made significant strides in expanding its gaming and entertainment offerings, which has garnered investor interest. Analysts are optimistic about LNW's growth potential, particularly in the digital gaming sector, contributing to the stock's upward movement today. Recent strategic developments and expansion in gaming offerings are likely to significantly impact future performance and investor sentiment.

stockrow.com/LNWO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com