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Light & Wonder, Inc.

LNW.AXConsumer CyclicalASX

Gambling

PriceMA150MA200
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Financials · Annual
Revenue
$3.31B
+4.0% YoY
Net Income
$276.0M
-17.9% YoY
EBITDA
$1.08B
+0.9% YoY
Free Cash Flow
$460.6M

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About Light & Wonder, Inc.

Headquartered within the consumer cyclical sector, Light & Wonder, Inc. focuses on Gambling services and products. Light & Wonder, Inc. operates as a cross-platform games company in the United States and internationally. The $9.14B market capitalization puts LNW.AX squarely in mid-cap range for its industry. It operates through three segments: Gaming, SciPlay, and iGaming segments.

Key stats
Market Cap$9.14B
P/E (TTM)27.99
Fwd P/E9.20
EPS$4.15
Beta0.36
52W Change-11.1%
ROE52.8%
Analysis

On the balance sheet, LNW.AX has $147.0M in cash with $5.19B in obligations. The ability to service this debt comfortably depends on continued operational cash generation. The company generates $460.6M in free cash flow annually, which funds everything from R&D to shareholder returns without needing external financing. Return on equity stands at 52.8%, which is exceptionally high for the sector. ROE measures how effectively a company uses shareholder capital to generate profits. An ROA of 9.5% suggests reasonable efficiency in deploying the company's asset base. Revenue has grown from $2.51B (2022) to $3.31B (2025), reflecting a 32% increase over the period.

With a beta below 0.7, Light & Wonder, Inc. typically sees smaller price swings than the overall market, offering a degree of stability during turbulent periods. The debt-to-cash ratio suggests meaningful leverage on the balance sheet, a factor worth monitoring if credit conditions tighten. No single metric tells the full story. Reviewing LNW.AX's risk profile alongside its fundamentals and technical indicators provides a more complete picture.

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