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) P/E ratio
As of 16 October 2026, Light & Wonder, Inc. (LNWO) trades at a P/E ratio of 24.0×. Over the past ten years it has ranged from 0.0× (September 2021) to 64.1× (November 2023); the current reading is higher than 80% of that period. That is above the Gambling industry median of 15.1× and above the Consumer Cyclical sector median of 17.3×.
P/E ratio, daily
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Annual newest first
| Period | P/E ratio | Change |
|---|---|---|
| FY2025 | 31.5× | 37.59% |
| FY2024 | 22.9× | (49.17%) |
| FY2023 | 45.1× | 2,898.39% |
| FY2022 | 1.5× | (91.34%) |
| FY2021 | 17.4× | — |
| FY2020 | 0.0× | — |
| FY2019 | 0.0× | — |
| FY2018 | 0.0× | — |
| FY2017 | 0.0× | — |
| FY2016 | 0.0× | — |
Quarterly newest first
| Period | P/E ratio | Change |
|---|---|---|
| Jun 2026 | 22.7× | (18.66%) |
| Mar 2026 | 27.9× | (11.35%) |
| Dec 2025 | 31.5× | 75.77% |
| Sep 2025 | 17.9× | (24.91%) |
| 42 more quarters | Free account |
Against its own ten years
P/E ratio against peers
| Company | P/E ratio |
|---|---|
| FLUT Flutter Entertainment PLC compare | n/m |
| CDRO Codere Online Luxembourg, S.A. compare | n/m |
| DKNG DraftKings Inc. compare | n/m |
| BRSL Brightstar Lottery compare | 7.3× |
| CHDN Churchill Downs, Incorporated compare | 14.0× |
| SGHC Super Group (SGHC) Limited compare | 15.1× |
| ACEL Accel Entertainment, Inc. compare | 15.8× |
| LNWO Light & Wonder, Inc. | 24.0× |
| RSI Rush Street Interactive, Inc. compare | 61.7× |
| Gambling industry median | 15.1× |
| Consumer Cyclical sector median | 17.3× |
| Market median | 18.1× |
What P/E ratio is
Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.
Stock Price ÷ EPS (Basic) (TTM)