Codere Online Luxembourg, S.A. (CDRO) vs Light & Wonder, Inc. (LNWO)

Codere Online Luxembourg, S.A. and Light & Wonder, Inc. are both Gambling companies. Light & Wonder, Inc. is the larger, with a market value of $7.0B against $445.6M — 15.8× the size. Codere Online Luxembourg, S.A. has negative trailing earnings, so its P/E is not meaningful; Light & Wonder, Inc. trades at 22.6×. Light & Wonder, Inc. has the higher net margin (8.09% vs −16.7%) and the higher return on invested capital (8.00% vs 0.00%). Across the 16 metrics below, Light & Wonder, Inc. leads on 11 and Codere Online Luxembourg, S.A. on 5.

Valuation

Metric CDRO LNWO Gambling median
P/E n/m 22.65 16.33
P/S n/m 1.78 0.86
P/B n/m 19.79 3.20
Price to free cash flow n/m 12.57 18.30
EV/EBITDA 4.38 16.36 9.68
EV/Sales (0.32) 3.24 1.63
Earnings yield (6.89%) 4.42% (0.02%)
Free cash flow yield 0.00% 7.96% 4.45%

Profitability

Metric CDRO LNWO Gambling median
Gross margin 0.00% 74.35% 51.63%
Operating margin 0.00% 19.83% (1.47%)
Net margin (16.71%) 8.09% (3.01%)
Free cash flow margin 0.00% 16.57% 2.54%
Return on equity 0.00% 53.98% 10.65%
Return on assets 0.00% 4.22% (1.07%)
Return on invested capital 0.00% 8.00% 0.00%

Growth

Metric CDRO LNWO Gambling median
Revenue growth (TTM) — 4.75% 5.73%
EPS growth (last fiscal year) (66.67%) (11.41%) —
Revenue growth, 5-year CAGR 24.26% 14.30% 23.46%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CDRO LNWO Gambling median
Debt to equity 0.06 16.99 0.13
Current ratio 1.37 1.73 1.06
Net debt to EBITDA (9.87) 4.50 0.25

Dividend

Metric CDRO LNWO Gambling median
Dividend yield — — —
Payout ratio 0.00 0.00 0.00

Size

Metric CDRO LNWO Gambling median
Market cap 445.61m 7.03b 673.72m

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