Light & Wonder Inc
Light & Wonder Inc operates in the gaming and leisure sector, generating revenue through gaming systems and related services, though specific product details are not provided in the available source documents.
Business. Light & Wonder Inc operates in the gaming and leisure sector, generating revenue through gaming systems and related services, though specific product details are not provided in the available source documents.
Analyst recommendations
20 analysts · consensus BuyAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
0Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Macro
- Rate decisionFederal Reserve rate decision (press conf.)2026-07-29 · US
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
Signals & dispatch
Composite-score breakdown
Synthesis
Light & Wonder Inc operates in the gaming and leisure sector, generating revenue through gaming systems and related services, though specific product details are not provided in the available source documents.
Light & Wonder Inc maintains a highly leveraged capital structure, with total liabilities of $6.22 billion against total equity of $245 million, resulting in a debt-to-equity ratio of 21.07. The company holds $167 million in cash and equivalents, which is insufficient to cover its $5.16 billion in long-term debt, leading to a negative net cash position. Despite this leverage, the current ratio stands at 1.6, indicating adequate short-term liquidity to meet immediate obligations. The market capitalization is $6.61 billion, with an enterprise value-to-EBITDA multiple of 17.11 and a price-to-earnings ratio of 23.93.
Profitability metrics show a gross profit of $2.43 billion on $3.31 billion in revenue, yielding a gross margin of approximately 73.3%. Operating income is $678 million, and net income is $276 million. The return on equity is exceptionally high at 112.65%, driven largely by the low equity base, while the return on assets is 4.27%. These returns are notable but must be viewed in the context of the high financial leverage.
Segment and geographic revenue breakdowns are not provided in the available data, preventing a detailed analysis of revenue concentration or regional exposure. The company's revenue mix and geographic distribution remain unspecified in the current financial snapshot.
Growth trajectory analysis is limited due to the absence of historical period data. The current revenue figure of $3.31 billion serves as the baseline, but year-over-year or multi-year growth trends cannot be calculated from the provided information.
Risk assessment indicates medium liquidity risk and low dilution risk. A key flag is the negative net cash position after subtracting total debt, which highlights the company's reliance on debt financing. The high debt-to-equity ratio of 21.07 further underscores the financial risk associated with the company's capital structure.
Recent events include analyst estimates with a mean price target of $180.29 and a median price target of $182.00, suggesting significant upside potential from the current market price of $80.50. The mean recommendation is 1.80, with 6 strong buys and 12 buys, indicating strong analyst confidence. No specific news events or filing observations are detailed beyond the analyst estimates.
- High leverage with a debt-to-equity ratio of 21.07 and negative net cash position.
- Strong profitability with a gross margin of 73.3% and ROE of 112.65%.
- Analyst consensus suggests significant upside with a mean price target of $180.29.
- Low dilution risk but medium liquidity risk due to high debt levels.
- Lack of historical data limits growth trajectory analysis.
Bull / Bear case
Generated · model-assistedIn focus — financials by report
Revenue $790.0M, +2,1% YoY; Operating income −24,3% YoY.
- ▍Revenue $790.0M, +2,1% YoY
- ▍Operating income −24,3% YoY
- ▍Net income −36,6% YoY
- ▍Free cash flow −23,2% YoY
- ▍Net margin 6.6%
Revenue $890.0M, +11,7% YoY; Operating income −50,6% YoY.
- ▍Revenue $890.0M, +11,7% YoY
- ▍Operating income −50,6% YoY
- ▍Net income −113,9% YoY
- ▍Free cash flow −99,3% YoY
- ▍Net margin -1.7%
Revenue $841.0M, +2,9% YoY; Operating income +43,3% YoY.
- ▍Revenue $841.0M, +2,9% YoY
- ▍Operating income +43,3% YoY
- ▍Net income +78,1% YoY
- ▍Free cash flow +72,3% YoY
- ▍Net margin 13.6%
Revenue $809.0M, −1,1% YoY; Operating income +15,4% YoY.
- ▍Revenue $809.0M, −1,1% YoY
- ▍Operating income +15,4% YoY
- ▍Net income +15,8% YoY
- ▍Free cash flow +41,5% YoY
- ▍Net margin 11.7%
Revenue $774.0M; Operating income $169.0M.
- ▍Revenue $774.0M
- ▍Operating income $169.0M
- ▍Net margin 10.6%
Revenue $797.0M; Operating income $168.0M.
- ▍Revenue $797.0M
- ▍Operating income $168.0M
- ▍Net margin 13.6%
Revenue $817.0M; Operating income $157.0M.
- ▍Revenue $817.0M
- ▍Operating income $157.0M
- ▍Net margin 7.8%
Revenue $818.0M; Operating income $175.0M.
- ▍Revenue $818.0M
- ▍Operating income $175.0M
- ▍Net margin 10.0%
Revenue $3.31B, +4,0% YoY; Operating income +1,8% YoY.
- ▍Revenue $3.31B, +4,0% YoY
- ▍Operating income +1,8% YoY
- ▍Net income −17,9% YoY
- ▍Free cash flow −7,7% YoY
- ▍Net margin 8.3%
Revenue $3.19B, +9,9% YoY; Operating income +32,4% YoY.
- ▍Revenue $3.19B, +9,9% YoY
- ▍Operating income +32,4% YoY
- ▍Net income +106,1% YoY
- ▍Free cash flow +26,7% YoY
- ▍Net margin 10.5%
Revenue $2.90B, +15,5% YoY; Operating income +228,8% YoY.
- ▍Revenue $2.90B, +15,5% YoY
- ▍Operating income +228,8% YoY
- ▍Net income −95,6% YoY
- ▍Free cash flow +1 035,7% YoY
- ▍Net margin 5.6%
Valuation TTM
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 6,37 |
| Revenue | —no estimate | —no estimate | 3,5B USD |
| Operating income | —no estimate | —no estimate | 1,0B USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Derivative transactions
- Director · Stock Option (right to buy) → Common StockDisposed 135 000 @ $35,42exercise · 2026-06-15
- Director · Stock Option (right to buy) → Common StockDisposed 135 000 @ $35,42exercise · 2026-06-15
- Director · Restrictted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
- Director · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
- Director · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
- Director · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
- Director · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
- Director · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
- Director · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
- Director · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
- Director · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
- Director · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
- Director · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
- Director · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
- EVP, CFO & Treas · Restricted Stock Units → Common StockAcquired 12 073grant · 2026-05-22
- SVP & CEO - Gaming · Restricted Stock Units → Common StockAcquired 12 073grant · 2026-05-22
- President & CEO · Restricted Stock Units → Common StockAcquired 30 182grant · 2026-05-22
- EVP, CFO & Treas · Restricted Stock Units → Common StockDisposed 1 065exercise · 2026-03-20
- SVP & CEO - Gaming · Restricted Stock Units → Common StockDisposed 4 372exercise · 2026-03-20
- SVP & Chief Accounting Officer · Restricted Stock Units → Common StockDisposed 668exercise · 2026-03-20
- EVP, CFO & Treas · Restricted Stock Units → Common StockDisposed 711exercise · 2026-03-20
- SVP & CEO - Gaming · Restricted Stock Units → Common StockDisposed 2 505exercise · 2026-03-20
- SVP & CEO - Gaming · Restricted Stock Units → Common StockDisposed 6 557exercise · 2026-03-20
- SVP & Chief Accounting Officer · Restricted Stock Units → Common StockDisposed 1 195exercise · 2026-03-20
- EVP, CFO & Treas · Restricted Stock Units → Common StockDisposed 1 826exercise · 2026-03-20
Actions
Ask Handelsavisen
- Market data
- Market data cache
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Capex To Revenuecapital_expenditure / revenue
- Ev To Revenueenterprise_value / revenue
- Market Capmarket_price * shares_outstanding_diluted
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Return On Equitynet_income / total_equity
- Return On Assetsnet_income / total_assets
- Light & Wonder Inc Market data — financials · 2026-06-25
- ha_refusal_refire fired on LNWO.O · 2026-06-25
- Light & Wonder Inc Market data — analyst estimates · 2026-06-25
- Light & Wonder Inc Market data — ESG · 2026-06-25
- Light & Wonder Inc HA canonical relationships · 2026-06-25
Ownership & reference
Top holders
- Investment Managers · as of 2024-06-300,02 %$871M
- Investment Managers · as of 2024-12-310,00 %$18M
Insider activity
- Director · Common StockSold 30 000 @ $90,08$2,7M · 2026-06-16
- Director · Common StockSold 30 000 @ $90,08$2,7M · 2026-06-16
- Director · Common StockOther 135 000 @ $35,42$4,8M · 2026-06-15
- Director · Common StockOther 53 748 @ $88,20$4,7M · 2026-06-15
- Director · Common StockOther 135 000 @ $35,42$4,8M · 2026-06-15
- Director · Common StockOther 53 748 @ $88,20$4,7M · 2026-06-15
- Director · Common StockOther 2 391 · 2026-06-10
- Director · Common StockOther 2 391 · 2026-06-10
- Director · Common StockOther 2 391 · 2026-06-10
- Director · Common StockOther 2 391 · 2026-06-10
- Director · Common StockOther 2 391 · 2026-06-10
- Director · Common StockOther 2 391 · 2026-06-10
- 10% owner · Common Stock, par value $.001 per shareOther 102 200 · 2026-05-01
- 10% owner · Common Stock, par value $.001 per shareSold 80 000 @ $82,44$6,6M · 2026-04-29
- SVP & Chief Accounting Officer · Common StockOther 431 @ $78,61$34K · 2026-03-20
- SVP & Chief Accounting Officer · Common StockOther 668 · 2026-03-20
- SVP & Chief Accounting Officer · Common StockOther 240 @ $78,61$19K · 2026-03-20
- EVP, CFO & Treas · Common StockOther 711 · 2026-03-20
- EVP, CFO & Treas · Common StockOther 280 @ $78,61$22K · 2026-03-20
- EVP, CFO & Treas · Common StockOther 1 826 · 2026-03-20
- EVP, CFO & Treas · Common StockOther 719 @ $78,61$57K · 2026-03-20
- EVP, CFO & Treas · Common StockOther 1 065 · 2026-03-20
- EVP, CFO & Treas · Common StockOther 419 @ $78,61$33K · 2026-03-20
- EVP, CFO & Treas · Common StockOther 420 @ $78,61$33K · 2026-03-20
- SVP & CEO - Gaming · Common StockOther 6 557 · 2026-03-20
Short positioning
Geographic breakdown
Intel & risk
4 tracked-field change(s) detected vs prior analysis; max severity: medium.
- Dilution risk— → lowlow
- Liquidity risk— → mediumlow
- Activity— → Unclassifiedmedium
- Economic sector— → Unclassifiedmedium
- Narrative— → —medium
- Business summary— → —medium
- Conclusion— → —medium
- Key takeaways— → —medium