Light & Wonder, Inc. (LNWO) vs Rush Street Interactive, Inc. (RSI)

Light & Wonder, Inc. and Rush Street Interactive, Inc. are both Gambling companies. Light & Wonder, Inc. is the larger, with a market value of $7.0B against $4.5B — 1.6× the size. Light & Wonder, Inc. trades at the lower P/E: 22.6× against 66.2×. Rush Street Interactive, Inc. grew revenue faster over the last twelve months: 34.3% against 4.75%. Light & Wonder, Inc. has the higher net margin (8.09% vs 2.33%) and the higher return on invested capital (8.00% vs 0.00%). Across the 22 metrics below, Rush Street Interactive, Inc. leads on 12 and Light & Wonder, Inc. on 10.

Valuation

Metric LNWO RSI Gambling median
P/E 22.65 66.23 16.33
P/S 1.78 1.61 0.86
P/B 19.79 6.50 3.20
Price to free cash flow 12.57 14.67 18.30
EV/EBITDA 16.36 10.36 9.68
EV/Sales 3.24 1.36 1.63
Earnings yield 4.42% 1.51% (0.02%)
Free cash flow yield 7.96% 6.82% 4.45%

Profitability

Metric LNWO RSI Gambling median
Gross margin 74.35% 34.97% 51.63%
Operating margin 19.83% 10.04% (1.47%)
Net margin 8.09% 2.33% (3.01%)
Free cash flow margin 16.57% 11.01% 2.54%
Return on equity 53.98% 10.80% 10.65%
Return on assets 4.22% 4.78% (1.07%)
Return on invested capital 8.00% 0.00% 0.00%

Growth

Metric LNWO RSI Gambling median
Revenue growth (TTM) 4.75% 34.29% 5.73%
EPS growth (last fiscal year) (11.41%) 933.33% —
Revenue growth, 5-year CAGR 14.30% 32.43% 23.46%
Net income growth, 5-year CAGR 0.00% 98.49% 0.00%

Health

Metric LNWO RSI Gambling median
Debt to equity 16.99 0.00 0.13
Current ratio 1.73 2.12 1.06
Net debt to EBITDA 4.50 (2.67) 0.25

Dividend

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

Size

Metric LNWO RSI Gambling median
Market cap 7.03b 4.53b 673.72m

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