stockrowLight & 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.
- Revenue
- −2.02%
- EPS
- +27.0%
- Free cash flow
- +124.8%
- Total debt
- +0.79%
Quarter to September 2026, against a year earlier
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Light & Wonder, Inc. (LNWO) Gross margin
Light & Wonder, Inc.'s gross margin over the twelve months to 30 September 2026 was 74.7%, up 1.4 percentage points from fiscal 2025 (73.3%). Over the past ten years it has ranged from 60.0% (fiscal 2015) to 73.3% (fiscal 2025) — the current reading is the highest in ten years. That is above the Gambling industry median of 48.5% and above the Consumer Cyclical sector median of 34.3%.
Gross margin, annual
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Annual newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| FY2025 | 73.3% | 2.50 |
| FY2024 | 70.8% | 0.85 |
| FY2023 | 70.0% | (0.67) |
| FY2022 | 70.6% | (1.09) |
| FY2021 | 71.7% | 7.61 |
| FY2020 | 64.1% | (4.66) |
| FY2019 | 68.8% | 6.08 |
| FY2018 | 62.7% | 0.42 |
| FY2017 | 62.3% | 0.63 |
| FY2016 | 61.6% | 1.65 |
Quarterly newest first
| Period | Gross margin | Change (points) |
|---|---|---|
| Sep 2026 | 75.6% | 0.97 |
| Jun 2026 | 74.6% | (0.80) |
| Mar 2026 | 75.4% | 2.18 |
| Dec 2025 | 73.3% | (0.94) |
| 43 more quarters | Free account |
Against its own ten years
Gross margin against peers
| Company | Gross margin |
|---|---|
| SGHC Super Group (SGHC) Limited compare | 100.0% |
| LNWO Light & Wonder, Inc. | 74.7% |
| BRSL Brightstar Lottery compare | 48.5% |
| FLUT Flutter Entertainment PLC compare | 41.6% |
| DKNG DraftKings Inc. compare | 40.5% |
| RSI Rush Street Interactive, Inc. compare | 35.5% |
| CHDN Churchill Downs, Incorporated compare | 34.1% |
| ACEL Accel Entertainment, Inc. compare | 31.4% |
| CDRO Codere Online Luxembourg, S.A. compare | 0.00% |
| Gambling industry median | 48.5% |
| Consumer Cyclical sector median | 34.3% |
| Market median | 45.1% |
What Gross margin is
Gross Margin tells an investor how much of each sale a company keeps after paying the direct costs of making or buying what it sells.
Gross Profit ÷ Revenue
More on LNWO
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
- The full statement