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.
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Light & Wonder, Inc. (LNWO) EV/Sales
As of 16 October 2026, Light & Wonder, Inc. (LNWO) trades at a EV/Sales of 3.4×. Over the past ten years it has ranged from 2.7× (September 2022) to 11.0× (September 2021); the current reading is higher than 27% of that period. That is above the Gambling industry median of 1.6× and above the Consumer Cyclical sector median of 1.0×.
EV/Sales, daily
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Annual newest first
| Period | EV/Sales | Change |
|---|---|---|
| FY2025 | 4.1× | 15.06% |
| FY2024 | 3.5× | (4.66%) |
| FY2023 | 3.7× | 9.99% |
| FY2022 | 3.4× | (49.96%) |
| FY2021 | 6.7× | (6.89%) |
| FY2020 | 7.2× | 58.95% |
| FY2019 | 4.5× | 46.14% |
| FY2018 | 3.1× | (22.75%) |
| FY2017 | 4.0× | 26.75% |
| FY2016 | 3.2× | (0.77%) |
Quarterly newest first
| Period | EV/Sales | Change |
|---|---|---|
| Jun 2026 | 3.3× | (4.67%) |
| Mar 2026 | 3.4× | (16.04%) |
| Dec 2025 | 4.1× | 12.10% |
| Sep 2025 | 3.6× | (8.84%) |
| 42 more quarters | Free account |
Against its own ten years
EV/Sales against peers
| Company | EV/Sales |
|---|---|
| CDRO Codere Online Luxembourg, S.A. compare | −0.4× |
| ACEL Accel Entertainment, Inc. compare | 0.9× |
| RSI Rush Street Interactive, Inc. compare | 1.3× |
| FLUT Flutter Entertainment PLC compare | 1.3× |
| DKNG DraftKings Inc. compare | 1.6× |
| SGHC Super Group (SGHC) Limited compare | 2.1× |
| BRSL Brightstar Lottery compare | 2.3× |
| LNWO Light & Wonder, Inc. | 3.4× |
| CHDN Churchill Downs, Incorporated compare | 3.4× |
| Gambling industry median | 1.6× |
| Consumer Cyclical sector median | 1.0× |
| Market median | 2.1× |
What EV/Sales is
EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ Revenue (TTM)