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Companies LNWO.O
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LNWO.O ASX Unclassified

Light & Wonder Inc

A$78,20
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AUD
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1D5D1M3M6MYTD1Y5YMax
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Mcap
6,4B AUD
P/E
26,9x
EV / Rev
3,5x
Div yield
0,00 %
Op margin
20,5 %
ROE
112,7 %
Net margin
8,3 %
Debt / equity
21,07
Beta
52w range
Volume
Day range
Prev close
Open
Next earnings
Ex-dividend
TR 1Y
About

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.

Classification20 %
SectorUnclassified
Generated · model-assisted
Sell-side consensus
BUY20 analysts
18 buy2 hold0 sell
Avg 12m price target180,29

Analyst recommendations

20 analysts · consensus Buy
Buy18
Hold2
Sell0
12-month price target
180,29
Consensus of sell-side coverage.
Upcoming events
— missing data
See all catalysts →

At a glance

Score
74
composite score
Valuation
26,9x
P/E
Analysts
Buy
20 analysts · indicative
Ownership
BlackRock Institutional Trust Company, N.A.
largest disclosed fund holder
Profitability
112,7 %
return on equity
Quality
60
quality score (0-100)

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.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning LNWO.
  • Sector rotation

    Sector1D1Mvs mkt
    Communication Services+2,2 %−5,5 %+1,5 %
    Materials+2,2 %+2,9 %+1,4 %
    Energy+0,8 %+5,8 %+0,1 %
    Health Care+0,7 %−1,3 %−0,0 %
    Consumer Discretionary+0,3 %+9,2 %−0,4 %
    Information Technology+0,1 %+8,1 %−0,7 %
    Financials−0,4 %−2,8 %−1,1 %
    Consumer Staples−0,4 %+3,6 %−1,1 %
    Real Estate−0,7 %+10,8 %−1,4 %
    Industrials−1,0 %−0,3 %−1,8 %
    Utilities−1,9 %+28,2 %−2,6 %

    Developing storylines

    No tracked sagas currently linked to LNWO.O. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-07-17 ↑ At a glance

    Opportunity

    — missing data

    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

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Score breakdown74
    Valuation+12
    Profitability+35
    Sentiment+30
    Risk penalty−3

    Synthesis

    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.

    Classification20 %
    SectorUnclassified
    AI synthesis
    GENERATED

    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.

    Key takeaways
    • 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-assisted
    — missing data

    In focus — financials by report

    Quarterly
    Annual
    QUARTERLYFiled 2026-05-07
    Q1 2026 · Quarter highlights
    Open report →

    Revenue $790.0M, +2,1% YoY; Operating income −24,3% YoY.

    Revenue$790.0M+2,1 % YoY
    Operating income$128.0M−24,3 % YoY
    Net income$52.0M−36,6 % YoY
    Free cash flow$86.0M−23,2 % YoY
    EPS
    Operating cash flow$139.0M−24,9 % YoY
    Financials
    Income statement
    Revenue$790.0M
    Gross profit$596.0M
    Operating income$128.0M
    Net income$52.0M
    Margins
    Gross margin75.4%
    Operating margin16.2%
    Net margin6.6%
    FCF margin10.9%
    Balance sheet
    Total assets$6.37B
    Total liabilities$6.05B
    Total equity$311.0M
    Cash & equivalents$147.0M
    Long-term debt$5.14B
    Cash flow
    Operating cash flow$139.0M
    CapEx-$74.0M
    Free cash flow$86.0M
    SBC
    P&L flow · revenue → net income
    Revenue $790.0MOperating costs $662.0MTax $76.0MNet income $52.0M
    Highlights
    • 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%

    Valuation TTM

    Market price
    A$78,20
    Market cap
    A$6.61B
    Enterprise value
    A$11.60B
    P/E
    26.9x
    Non-GAAP P/E
    EV / Revenue
    3.5x
    EV / Op income
    18.2x
    EV / OCF
    14.6x
    P / B
    27.0x
    P / Tangible book
    27.0x
    Tangible book
    A$245.0M
    Net cash
    -A$5.00B
    Current ratio
    1.6
    Debt / equity
    21.1
    ROA
    4.3%
    ROE
    1.1%
    Cash conversion
    288.0%
    CapEx / revenue
    -9.3%
    SBC / revenue
    Dilution ratio
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    Business relationships3 disclosed relationships · 1 type · extracted from filings & disclosures
    Partners3

    Supply chain

    Vendors → LNWO ↔ Partners → Customers · click any node to drill
    VENDORSPARTNERSCUSTOMERSLNWOLNWOLight & Wonder Inc3 entitiesHasbro IncSoftwareUSNETFLIX, INC.Online ServicesUSWARNER BROS. DISCOVERYOil & Gas Exploration & US
    3 mentions in 10-K0 from corporate websites0 from news dispatches
    Updated 2026-06-24

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Next quarternear-term
    Earnings · next quarterconf 42 %
    EPS
    Consensus EPS
    6,37
    Predicted surprise
    -0,08
    Beat probability
    41 %
    Analysts
    20
    Other metrics
    Revenue
    no estimate
    Segment revenue
    no estimate
    Margin
    no estimate
    Segment margin
    no estimate
    revision ratio -0,07 · as of 2026-06-25 · Earnings Surprise V1
    Period note: consensus is not fiscal-period-aligned at source — read as consensus vs the last reported actual, not a calibrated same-quarter surprise.
    Full fiscal year~1 year ahead
    Full fiscal year · our forecast vs guidance vs consensus
    MetricOur forecastGuidanceConsensus
    EPSno estimateno estimate6,37
    Revenueno estimateno estimate3,5B USD
    Operating incomeno estimateno estimate1,0B USD
    Full-year consensus mean (period as reported by source) · consensus in USD. Company-level full-year forecast and management guidance are not yet modelled at scale — shown as "no estimate", never inferred.
    Probabilistic model output — not investment advice. · generated 2026-07-17

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Consensus distribution

    sell-side coverage
    Recommendation distribution20 analysts
    Strong buy6
    Buy12
    Hold2
    Sell0
    Strong sell0
    12-month price targetA$180,29 · Median A$182,00
    Low A$136,00High A$245,00
    Operating income · consensus1,0B USD
    EPS surprise
    −48,8 %
    reported vs consensus · miss
    Revenue surprise
    −5,1 %
    reported vs consensus · miss

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    LowA$136,00
    MeanA$180,29
    MedianA$182,00
    HighA$245,00
    SpotA$78,20
    +130.5 %implied to mean12-month sell-side price targets · ▲ spot

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskLow
    Liquidity riskMedium
    Filing-based flags
    • Net cash is negative after subtracting total debt.

    Benchmarks vs cohort

    Op Margin20,5 %Above P75
    Net Margin8,3 %Above median
    ROE112,7 %Best in class
    Capex / Rev-9,3 %Bottom quartile
    D/E21,07Bottom quartile
    Cash Conv2,88Above P75

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    Derivative transactions

    Net disposed 247 926 sh28 exercises · 21 grants12 insiders
    • Korsanos AntoniaDirector · Stock Option (right to buy) → Common StockDisposed 135 000 @ $35,42exercise · 2026-06-15
    • Odell JamieDirector · Stock Option (right to buy) → Common StockDisposed 135 000 @ $35,42exercise · 2026-06-15
    • Morro Stephen WDirector · Restrictted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
    • SHANKS VIRGINIA EDirector · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
    • Throsby TimothyDirector · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
    • YOUNGBLOOD DR KNEELANDDirector · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
    • YOUNGBLOOD DR KNEELANDDirector · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
    • Throsby TimothyDirector · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
    • McLennan HamishDirector · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
    • McLennan HamishDirector · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
    • Morro Stephen WDirector · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
    • SHANKS VIRGINIA EDirector · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
    • Marchetti MichaelDirector · Restricted Stock Units → Common StockAcquired 2 498grant · 2026-06-10
    • Marchetti MichaelDirector · Restricted Stock Units → Common StockDisposed 2 391exercise · 2026-06-10
    • Chow OliverEVP, CFO & Treas · Restricted Stock Units → Common StockAcquired 12 073grant · 2026-05-22
    • Lane SiobhanSVP & CEO - Gaming · Restricted Stock Units → Common StockAcquired 12 073grant · 2026-05-22
    • Wilson Matthew R.President & CEO · Restricted Stock Units → Common StockAcquired 30 182grant · 2026-05-22
    • Chow OliverEVP, CFO & Treas · Restricted Stock Units → Common StockDisposed 1 065exercise · 2026-03-20
    • Lane SiobhanSVP & CEO - Gaming · Restricted Stock Units → Common StockDisposed 4 372exercise · 2026-03-20
    • Kalabic VanjaSVP & Chief Accounting Officer · Restricted Stock Units → Common StockDisposed 668exercise · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Restricted Stock Units → Common StockDisposed 711exercise · 2026-03-20
    • Lane SiobhanSVP & CEO - Gaming · Restricted Stock Units → Common StockDisposed 2 505exercise · 2026-03-20
    • Lane SiobhanSVP & CEO - Gaming · Restricted Stock Units → Common StockDisposed 6 557exercise · 2026-03-20
    • Kalabic VanjaSVP & Chief Accounting Officer · Restricted Stock Units → Common StockDisposed 1 195exercise · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Restricted Stock Units → Common StockDisposed 1 826exercise · 2026-03-20

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    • Reference data
    How metrics are computed
    • Capex To Revenue
      capital_expenditure / revenue
    • Ev To Revenue
      enterprise_value / revenue
    • Market Cap
      market_price * shares_outstanding_diluted
    • Debt To Equity
      (short_term_debt + long_term_debt) / total_equity
    • Return On Equity
      net_income / total_equity
    • Return On Assets
      net_income / total_assets
    Source documents
    • 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

    • BlackRock Institutional Trust Company, N.A.Investment Managers · as of 2024-06-300,02 %$871M
    • Nuveen LLCInvestment Managers · as of 2024-12-310,00 %$18M

    Insider activity

    Net selling0 buys · 12 sellsnet -$15,3M13 insiders · last 365d
    • Odell JamieDirector · Common StockSold 30 000 @ $90,08$2,7M · 2026-06-16
    • Korsanos AntoniaDirector · Common StockSold 30 000 @ $90,08$2,7M · 2026-06-16
    • Odell JamieDirector · Common StockOther 135 000 @ $35,42$4,8M · 2026-06-15
    • Odell JamieDirector · Common StockOther 53 748 @ $88,20$4,7M · 2026-06-15
    • Korsanos AntoniaDirector · Common StockOther 135 000 @ $35,42$4,8M · 2026-06-15
    • Korsanos AntoniaDirector · Common StockOther 53 748 @ $88,20$4,7M · 2026-06-15
    • McLennan HamishDirector · Common StockOther 2 391 · 2026-06-10
    • Morro Stephen WDirector · Common StockOther 2 391 · 2026-06-10
    • Marchetti MichaelDirector · Common StockOther 2 391 · 2026-06-10
    • YOUNGBLOOD DR KNEELANDDirector · Common StockOther 2 391 · 2026-06-10
    • Throsby TimothyDirector · Common StockOther 2 391 · 2026-06-10
    • SHANKS VIRGINIA EDirector · Common StockOther 2 391 · 2026-06-10
    • Fine Capital Partners, L.P.10% owner · Common Stock, par value $.001 per shareOther 102 200 · 2026-05-01
    • Fine Capital Partners, L.P.10% owner · Common Stock, par value $.001 per shareSold 80 000 @ $82,44$6,6M · 2026-04-29
    • Kalabic VanjaSVP & Chief Accounting Officer · Common StockOther 431 @ $78,61$34K · 2026-03-20
    • Kalabic VanjaSVP & Chief Accounting Officer · Common StockOther 668 · 2026-03-20
    • Kalabic VanjaSVP & Chief Accounting Officer · Common StockOther 240 @ $78,61$19K · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Common StockOther 711 · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Common StockOther 280 @ $78,61$22K · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Common StockOther 1 826 · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Common StockOther 719 @ $78,61$57K · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Common StockOther 1 065 · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Common StockOther 419 @ $78,61$33K · 2026-03-20
    • Chow OliverEVP, CFO & Treas · Common StockOther 420 @ $78,61$33K · 2026-03-20
    • Lane SiobhanSVP & CEO - Gaming · Common StockOther 6 557 · 2026-03-20

    Short positioning

    657.9Kshares short-2.1% vs prior
    13.15days to cover
    2.5Kfails-to-deliver
    as of 2026-06-30 · short-interest report (free)

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    LNW.AXCanonical
    ASX · AUD

    Intel & risk

    PredictorBeat prob41 %Surprise-0,08Full forecast →
    What changed

    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
    vs prior analysis today
    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskMedium
    Net cash is negative after subtracting total debt.
    Relationship graph
    LNWOHAS.ONFLX.OWBD.OUnclassified
    This companySectorPartners

    Evidence & claims

    From filings & derived data
    — missing data

    The Thread

    Everything we know, in order
    2026-06-30 03:38 UTCEARNINGSUpcomingForecast: earnings_forecast (90d)
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-07-17 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data · Reference data Premium coverage