Saturday 17 October 2026
Export LNWO’s income statement to Excel — free account
Light & Wonder, Inc.
LNWO Consumer Cyclical Gambling
Light & Wonder, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $3.3 billion, up 3.95% from fiscal 2024. In the quarter to June 2026, revenue grew 2.35%, EPS grew 38.4%, free cash flow grew 464.3% and total debt rose 5.68%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.
81.86
0.15
+0.18%
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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 17.36 | 1.50 | 45.08 | 22.91 | 31.53 |
Piotroski F-Score |
5 | 6 | 5 | 6 | 3 | 7 | 6 | 5 | 7 | 5 |
P/S ratio |
0.42 | 1.44 | 0.48 | 1.04 | 2.32 | 2.98 | 2.20 | 2.54 | 2.41 | 2.58 |
Altman Z-Score |
0.18 | 0.58 | 0.23 | 0.18 | (0.08) | 0.26 | 1.59 | 2.07 | 2.32 | 2.06 |
P/FCF ratio |
14.65 | 31.02 | 0.00 | 10.27 | 15.48 | 14.76 | 0.00 | 27.49 | 29.73 | 21.15 |
Altman Z″-Score (non-manufacturers) |
(0.73) | 0.05 | (0.69) | (0.49) | (0.79) | (0.80) | 2.01 | 1.92 | 2.12 | 1.89 |
Beneish M-Score |
(2.98) | (2.89) | (2.79) | (2.63) | (3.75) | (2.84) | (2.13) | (2.71) | (2.60) | (2.72) |
P/Operating CF |
16.04 | 37.75 | (162.71) | 17.42 | 24.79 | 28.39 | (63.46) | 44.21 | 38.06 | 26.82 |
P/B ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 4.76 | 9.65 | 12.09 | 34.92 |
Price to Tangible BV |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
EV/Sales |
3.18 | 4.03 | 3.11 | 4.54 | 7.22 | 6.73 | 3.37 | 3.70 | 3.53 | 4.06 |
EV/EBITDA |
70.11 | 31.51 | 39.31 | 37.42 | 0.00 | 131.63 | 30.97 | 20.74 | 16.84 | 19.70 |
EV/Operating CF |
21.85 | 24.48 | 30.22 | 19.87 | 26.05 | 21.14 | (22.19) | 18.21 | 17.80 | 16.95 |
EV/FCF |
109.79 | 86.44 | (123.90) | 44.73 | 48.20 | 33.32 | (12.50) | 40.00 | 43.51 | 33.26 |
Quick Ratio |
0.92 | 1.84 | 1.08 | 1.46 | 1.70 | 1.08 | 2.28 | 1.47 | 1.21 | 1.18 |
Current Ratio |
1.61 | 2.54 | 1.83 | 2.11 | 2.62 | 1.78 | 2.72 | 1.88 | 1.61 | 1.60 |
Net Debt/EBITDA |
8.46 | 7.39 | 9.24 | 10.05 | 32.29 | 15.87 | 4.23 | 3.72 | 3.46 | 4.50 |
Debt/Assets |
113.92% | 113.61% | 117.09% | 111.73% | 116.52% | 110.24% | 64.80% | 69.78% | 71.39% | 79.90% |
Debt/Equity |
(4.17) | (4.33) | (3.67) | (4.14) | (3.69) | (4.13) | 3.35 | 5.06 | 6.08 | 21.07 |
Asset Turnover |
0.39 | 0.42 | 0.44 | 0.31 | 0.22 | 0.27 | 0.36 | 0.50 | 0.58 | 0.56 |
Operating CF/Net income |
(1.18) | (2.09) | (0.98) | (4.20) | (0.83) | 1.85 | (0.10) | 3.62 | 1.88 | 2.88 |
Capex/Depreciation |
(0.32) | (0.42) | (0.51) | (0.41) | (0.27) | (0.43) | (0.51) | (0.63) | (0.81) | (0.76) |
Interest Coverage |
0.20 | 0.65 | 0.45 | 0.49 | (0.49) | 0.23 | 0.83 | 1.68 | 2.28 | 2.18 |
| 20.62% | 12.21% | 15.68% | 5.69% | 24.57% | (16.03%) | (777.78%) | 16.93% | 47.97% | 62.66% | |
| (4.77%) | (3.27%) | (4.56%) | (1.67%) | (7.21%) | 4.68% | 52.91% | 2.82% | 6.12% | 4.65% | |
ROIC |
1.36% | 4.15% | 2.61% | 2.90% | (2.64%) | 1.15% | 4.17% | 7.85% | 9.94% | 8.29% |
Return on Tangible Assets |
(34.13%) | (14.20%) | (30.11%) | (9.64%) | (35.76%) | 38.21% | 288.01% | 19.15% | 45.78% | 33.33% |
Average Days of Receivables |
62.66 | 64.02 | 65.01 | 115.40 | 94.10 | 71.71 | 66.11 | 63.64 | 66.98 | 75.89 |
Research and Development Expense of Revenue |
7.10% | 5.97% | 6.01% | 6.95% | 8.71% | 8.82% | 8.68% | 7.86% | 8.22% | 7.60% |
Selling, General and Administrative Expense of Revenue |
20.01% | 19.88% | 20.73% | 25.92% | 36.90% | 31.54% | 28.54% | 27.84% | 27.35% | 26.22% |
Intangible Assets out of Total Assets |
0.71 | 0.63 | 0.70 | 0.65 | 0.50 | 0.50 | 0.64 | 0.67 | 0.65 | 0.68 |
Share Based Compensation of Revenue |
1.22% | 0.88% | 1.31% | 1.34% | 3.30% | 5.25% | 2.75% | 4.07% | 3.45% | 3.65% |
Graham Net Nets |
(6.47) | (1.77) | (5.42) | (3.33) | (2.11) | (1.29) | (0.57) | (0.47) | (0.47) | (0.58) |
Graham Number |
44.95 | 37.33 | 48.73 | 26.72 | 59.99 | 0.00 | 103.10 | 18.45 | 24.62 | 14.74 |
Earnings Yield |
(28.93%) | (5.43%) | (21.81%) | (5.23%) | (14.51%) | 5.76% | 66.52% | 2.22% | 4.36% | 3.17% |
Free Cash Flow Yield |
6.82% | 3.22% | (5.19%) | 9.74% | 6.46% | 6.77% | (12.25%) | 3.64% | 3.36% | 4.73% |
Revenue per Share |
33.03 | 34.65 | 36.96 | 25.68 | 17.88 | 22.43 | 26.44 | 31.89 | 35.82 | 39.93 |
Operating CF per Share |
4.80 | 5.70 | 3.80 | 5.87 | 4.96 | 7.14 | (4.01) | 6.48 | 7.10 | 9.57 |
Capex per Share |
(2.93) | (3.19) | (3.86) | (2.41) | (1.44) | (1.78) | (2.27) | (2.66) | (3.30) | (3.73) |
Free Cash Flow per Share |
1.86 | 2.51 | (0.05) | 3.46 | 3.52 | 5.35 | (6.28) | 3.82 | 3.80 | 5.83 |
Cash per Share |
1.60 | 9.19 | 2.27 | 3.91 | 10.24 | 6.52 | 10.12 | 5.66 | 3.44 | 3.14 |
Shareholders Equity per Share |
(22.17) | (22.78) | (27.07) | (22.67) | (26.57) | (21.94) | 12.22 | 8.41 | 7.15 | 2.95 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(22.17) | (22.78) | (27.07) | (22.67) | (26.57) | (21.94) | 12.22 | 8.41 | 7.15 | 2.95 |
Free Cash Flow |
162.80 | 223.00 | (5.00) | 322.00 | 334.00 | 514.00 | (597.00) | 348.00 | 338.00 | 484.00 |
Working Capital |
424.20 | 1,136.60 | 622.00 | 849.00 | 1,349.00 | 758.00 | 1,072.00 | 615.00 | 448.00 | 480.00 |
Capital Expenditures |
(256.20) | (284.00) | (351.00) | (224.00) | (137.00) | (171.00) | (216.00) | (242.00) | (294.00) | (310.00) |
Net Current Asset Value |
(7,906.50) | (7,875.90) | (8,812.00) | (8,302.00) | (8,327.00) | (8,257.00) | (3,154.00) | (3,476.00) | (3,602.00) | (4,934.00) |
EV/EBIT |
70.11 | 31.51 | 39.31 | 37.42 | 0.00 | 131.63 | 30.97 | 20.74 | 16.84 | 19.70 |
Capex to Sales |
0.09 | 0.09 | 0.10 | 0.09 | 0.08 | 0.08 | 0.09 | 0.08 | 0.09 | 0.09 |
Price to Operating Income |
9.36 | 11.31 | 6.12 | 8.59 | 0.00 | 58.32 | 20.22 | 14.25 | 11.51 | 12.53 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
1.32 | 1.20 | 1.26 | 1.08 | 2.08 | 1.87 | 2.06 | 1.63 | 1.26 | 1.17 |
Cash ROIC |
2.59% | 2.95% | (0.07%) | 4.61% | 4.31% | 7.13% | (9.92%) | 6.75% | 7.02% | 8.54% |
Accounts Receivable Turnover |
5.87 | 5.95 | 5.90 | 3.53 | 2.85 | 5.00 | 5.72 | 6.04 | 5.84 | 5.20 |
Accounts Payable Turnover |
6.35 | 6.14 | 6.04 | 3.31 | 3.24 | 3.44 | 4.12 | 4.42 | 4.07 | 4.37 |
Inventory Turnover |
4.51 | 4.80 | 5.47 | 3.24 | 3.36 | 5.61 | 5.70 | 5.16 | 5.56 | 5.41 |
Average Days of Payables |
62.32 | 59.70 | 65.44 | 110.58 | 89.75 | 122.27 | 76.17 | 100.88 | 84.68 | 77.95 |
Days of Inventory on Hand |
79.94 | 76.23 | 62.82 | 119.38 | 71.20 | 58.74 | 79.63 | 74.09 | 61.94 | 69.70 |
Average Receivables |
491.05 | 517.95 | 569.95 | 677.00 | 596.50 | 430.50 | 439.00 | 480.50 | 545.50 | 637.00 |
Average Payables |
174.35 | 189.65 | 207.70 | 225.50 | 188.00 | 177.00 | 179.00 | 197.50 | 228.50 | 202.50 |
Average Inventory |
245.40 | 242.70 | 229.55 | 230.00 | 181.50 | 108.50 | 129.50 | 169.00 | 167.50 | 163.50 |
Average Assets |
7,409.80 | 7,406.35 | 7,721.65 | 7,763.50 | 7,896.50 | 7,933.50 | 6,946.00 | 5,780.50 | 5,486.50 | 5,941.50 |
Average Common Equity |
(1,715.60) | (1,981.35) | (2,245.00) | (2,285.50) | (2,316.00) | (2,315.00) | (472.50) | 963.00 | 700.50 | 440.50 |
Columns are period end dates