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Light & Wonder Inc Ordinary Shares LNW

Morningstar Rating
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Stock XNAS Rating as of
$92.06 +0.60 (0.66%)
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As of Delayed Price Post-Trading: $92.06 0.00
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Company Report

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Light & Wonder Earnings: Strong Period as Highly Anticipated Dragon Train Arrives in the US

Angus Hewitt

Light & Wonder continues to perform strongly. Underlying first-quarter EBITDA of USD 281 million was about 13% higher than the previous corresponding period. This broadly tracks our unchanged full-year forecast of USD 1.2 billion. This was primarily driven by the core gaming business, lifting underlying segment EBITDA 13% on the PCP to USD 232 million. We think much of this success comes down to the new Dragon Train game, which enjoys exceptional success in Australia.

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Price vs Fair Value

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LNW is trading at a 795% premium.
Price
$91.46
Fair Value
$18.00
Uncertainty
High
1-Star Price
$188.22
5-Star Price
$12.20
Economic Moat
Pmhl
Capital Allocation
Kglmgssh

Bulls Say, Bears Say

Bulls

Stringent regulatory licensing requirements create barriers to entry for new players, protecting the market share of Light & Wonder and other incumbents.

Bears

Regulatory tightening of land-based gaming, particularly in Australia, may damp demand for Light & Wonder’s electronic gaming machines.

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News

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Trading Information

Previous Close Price
$91.46
Day Range
$91.06–92.57
52-Week Range
$56.01–108.90
Bid/Ask
$92.02 / $92.06
Market Cap
$8.30 Bil
Volume/Avg
644,448 / 637,337

Key Statistics

Price/Earnings (Normalized)
21.75
Price/Sales
2.84
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
2.21%

Company Profile

Light & Wonder is principally an electronic gaming machine manufacturer, selling machines to pubs, clubs, and casinos. The firm is licensed in most jurisdictions allowing gambling globally. Light & Wonder is one of the three largest players in the space along with International Game Technology and Aristocrat Leisure. SciPlay, about one fourth of revenue, develops and distributes casual mobile games, principally in the social casino niche. The more nascent iGaming business sits between these two businesses, providing digital content and capabilities to real-money gaming providers.
Sector
Consumer Cyclical
Industry
Gambling
Stock Style Box
Small Growth
Total Number of Employees
6,500
Website
https://www.lnw.com

Competitors

Valuation

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Metric
LNW
WYNN
DKNG
Price/Earnings (Normalized)
 21.7517.73389.18
Price/Book Value
 9.87—24.53
Price/Sales
 2.841.544.92
Price/Cash Flow
 12.157.36197.98
Price/Earnings
LNW
WYNN
DKNG

Financial Strength

Metric
LNW
WYNN
DKNG
Quick Ratio
 1.411.351.05
Current Ratio
 1.981.431.34
Interest Coverage
 1.911.41−316.16
Quick Ratio
LNW
WYNN
DKNG

Profitability

Metric
LNW
WYNN
DKNG
Return on Assets (Normalized)
 7.00%8.85%−5.42%
Return on Equity (Normalized)
 43.99%—−22.77%
Return on Invested Capital (Normalized)
 13.44%13.75%−11.27%
Return on Assets
LNW
WYNN
DKNG
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