Light & Wonder, Inc. (LNWO) Stock Analysis
For informational purposes only. Not financial advice. Analysis by Sedat ANAK, Founder & Editor-in-Chief | AI-powered analysis. Data sourced from SEC filings and institutional-grade financial providers. Editorially reviewed. Not financial advice.
Light & Wonder, Inc. (LNWO) trades at $91.08 with AI Score 49/100 (Grade C). Light & Wonder, Inc. is a leading cross-platform games company based in Las Vegas, specializing in gaming content and technology. Market cap: $7.16B, Sector: Consumer cyclical.
Price as of Aug 21, 2026 · Last analyzed: Jun 15, 2026Analyst Coverage for LNWO: LNWO does not currently have published analyst price targets in our coverage universe. This is common for smaller-cap names with limited Wall Street coverage. In the absence of analyst consensus, our AI model evaluates LNWO against Consumer Cyclical peers across nine fundamental dimensions and assigns an underweight signal based on the underlying data.
LNWO: the 3 scored disciplines are evenly split. Dominant signal: Ray Dalio bullish.
How is this calculated? →Why this analysis is different
- A 9-signal quantitative MoonshotScore built from filings, insider activity, and market data — computed from the numbers, not from opinion.
- An AI Council read across up to eight perspectives — value, macro, quantitative, and momentum lenses — that shows where they disagree instead of averaging the tension away.
- Figures come straight from FMP and Yahoo Finance filings data. The AI writes the narrative around the numbers — it never edits the numbers.
Light & Wonder, Inc. (LNWO) Consumer Business Overview
Light & Wonder, Inc. stands out as a prominent cross-platform games company, leveraging its diverse offerings in gaming, social gaming, and digital content to capture a significant share of the global gambling market.
What Is the Investment Thesis for LNWO?
Light & Wonder, Inc. presents a compelling investment thesis driven by its diversified revenue streams and strong market presence. The company has a market capitalization of $7.16B and a P/E ratio of 18.26, indicating a solid valuation relative to its earnings. The Gaming segment's gross margin of 71.1% exemplifies operational efficiency, while the profit margin of 12.7% reflects a healthy bottom line. Key growth catalysts include the increasing demand for digital gaming solutions and the expansion of its SciPlay segment, which is well-positioned in the social gaming market. As the global online gambling market is projected to grow significantly, Light & Wonder's strategic investments in technology and content development are expected to enhance its competitive edge. However, potential risks include regulatory challenges and market volatility, which could impact revenue streams. Overall, the company's strong fundamentals and growth initiatives make it an attractive subject for further analysis.
Based on FMP financials and quantitative analysis
LNWO Key Highlights
Market capitalization of $7.16B, positioning it as a significant player in the gaming industry.
- P/E ratio of 18.26, indicating a solid valuation compared to industry peers.
- Gross margin of 71.1%, showcasing operational efficiency in the Gaming segment.
- Profit margin of 12.7%, reflecting a healthy profitability level.
- A workforce of 6,800 employees, indicating substantial operational capacity.
Who Are LNWO's Competitors?
LNWO is benchmarked below against 8 industry peers on price, market cap, and our AI MoonshotScore.
| Company | Price | Change | Market Cap | AI Score |
|---|---|---|---|---|
| KMX CarMax, Inc. | $58.95 | +2.70% | $8.37B | 52 |
| LEA Lear Corporation | $125.43 | +1.11% | $6.28B | 71 |
| SGHC Super Group (SGHC) Limited | $13.22 | +0.46% | $6.72B | 52 |
| RSI Rush Street Interactive (RSI) | $25.68 | -0.17% | $6.35B | 72 |
| BYD Boyd Gaming Corporation | $82.68 | +0.24% | $6.01B | 70 |
| CHDN Churchill Downs Incorporated | $91.75 | +3.51% | $6.39B | 62 |
| LNW Light & Wonder, Inc. | $99.75 | +0.25% | $8.43B | 52 |
| LTRCF The Lottery Corporation Limited | $3.79 | +0.00% | $8.44B | 52 |
AI Score by Stock Expert AI · Price data: FMP / Yahoo Finance
What Are LNWO's Key Strengths?
Diverse revenue streams from multiple gaming segments.
- Strong operational efficiency with high gross margins.
- Established market presence and brand recognition.
- Innovative technology and gaming solutions.
What Are LNWO's Weaknesses?
Dependence on regulatory environments which can impact operations.
- Limited international presence compared to some competitors.
- No dividend payouts, which may deter income-focused investors.
- Potential vulnerability to market volatility.
What Could Drive LNWO Stock Higher?
Expansion of the iGaming segment to capitalize on growing online gambling trends.
- Development of new gaming content and technology to enhance product offerings.
- Strategic partnerships aimed at increasing market reach and product diversity.
- Continuous investment in research and development for innovative gaming solutions.
What Are the Key Risks for LNWO?
Financial-distress signal — its Altman Z-Score of 1.78 sits in the distress zone (elevated bankruptcy risk).
- Inconsistent delivery — missed Wall Street EPS estimates in 4 of the last 8 reported quarters.
- Regulatory changes that could impact market access and operations.
- Intense competition from both traditional and online gaming companies.
- Economic downturns that may affect consumer spending on gaming.
- Technological advancements requiring constant innovation to remain competitive.
What Are the Growth Opportunities for LNWO?
- Light & Wonder's iGaming offerings position it to capitalize on this trend, providing operators with advanced digital content and management systems.
- Growth in social gaming: The SciPlay segment is poised to benefit from the growing popularity of social gaming, which is projected to reach $20 billion by 2026. By enhancing its game portfolio and user engagement strategies, Light & Wonder can leverage this expanding market.
- Technological advancements: As the gaming industry increasingly embraces technology, Light & Wonder's investments in innovative gaming solutions and platforms can drive growth. The integration of AI and machine learning in gaming experiences can enhance player engagement and operational efficiency.
- Strategic partnerships and acquisitions: Collaborating with other gaming entities or acquiring smaller firms can enhance Light & Wonder's product offerings and market reach. This strategy can facilitate entry into new markets and bolster its competitive positioning.
- Regulatory changes: As jurisdictions around the world continue to legalize and regulate online gambling, Light & Wonder can expand its operations into new markets, increasing its customer base and revenue potential.
What Are LNWO's Competitive Advantages?
- Strong brand recognition in the gaming industry, enhancing customer loyalty.
- Diverse product offerings across multiple gaming segments, reducing dependency on a single revenue stream.
- Proprietary technology and gaming content that provide a competitive edge.
- Established relationships with key gaming operators and regulatory bodies.
What Does LNWO Do?
Light & Wonder, Inc., founded in 1984 and headquartered in Las Vegas, Nevada, operates as a cross-platform games company with a global reach. The company has evolved significantly from its inception, focusing on the development and distribution of gaming content and technology. It operates through three primary segments: Gaming, SciPlay, and iGaming. The Gaming segment is responsible for selling game content and various gaming machines, including video gaming terminals and table game products. This segment also provides leasing options and supports casino-management systems, catering primarily to commercial, tribal, and governmental gaming operators. The SciPlay segment focuses on developing and marketing social games across multiple online platforms, allowing players to engage with virtual coins and chips in a variety of games. The iGaming segment complements the company's offerings by providing a suite of digital gaming content, distribution platforms, and player account management systems. This segment is vital in the fast-growing online gaming market, offering operators comprehensive tools to manage their digital gaming operations effectively. With a workforce of approximately 6,800 employees, Light & Wonder has positioned itself as a key player in the gaming industry, continually adapting to market trends and technological advancements.
What Products and Services Does LNWO Offer?
- Develop and distribute gaming content across various platforms.
- Sell gaming machines, including video gaming terminals and table game products.
- Provide leasing options and support for casino-management systems.
- Market and operate social games through the SciPlay segment.
- Offer a suite of digital gaming content and distribution platforms through the iGaming segment.
- License proprietary table games content to various gaming operators.
How Does LNWO Make Money?
- Revenue generated from the sale of gaming machines and content.
- Income from leasing gaming equipment and providing support services.
- Sales from virtual coins and chips in social gaming.
- Revenue from digital gaming content and management systems in the iGaming segment.
- Licensing fees from proprietary gaming content.
What Industry Does LNWO Operate In?
The gambling and gaming industry is experiencing robust growth, driven by increasing consumer interest in digital and online gaming platforms. The global online gambling market is projected to expand significantly, with estimates suggesting a CAGR of over 11% in the coming years. Light & Wonder, Inc. is well-positioned within this landscape, leveraging its diverse offerings across Gaming, SciPlay, and iGaming segments to capture market share. The competitive landscape includes notable players such as Boyd Gaming Corporation and Rush Street Interactive, highlighting the need for continuous innovation and adaptation to changing consumer preferences.
Who Are LNWO's Key Customers?
- Commercial gaming operators seeking innovative gaming solutions.
- Tribal gaming organizations requiring advanced gaming technology.
- Governmental entities looking for compliant gaming products.
- Social gamers engaging with online platforms for entertainment.
- Digital gaming operators needing comprehensive management systems.
Company Profile
Light & Wonder, Inc. operates in the Gambling, Resorts & Casinos industry within the Consumer Cyclical sector. It is headquartered in Las Vegas, US. The company is led by CEO Matthew Richard Wilson. LNWO has traded publicly since 1984.
Key Financial Metrics
Return on equity for Light & Wonder, Inc. stands at 68.6%, a gauge of how efficiently it converts shareholder capital into profit. Return on assets is 4.3%, showing how much profit it generates from its asset base. LNWO trades at a trailing price-to-earnings ratio of 27.16, below the Consumer Cyclical sector average of ~34x. Its free cash flow yield is 7.4%, a gauge of the cash the business throws off relative to its market value. A current ratio of 1.73 indicates the company holds enough short-term assets to cover its near-term obligations. Its earnings yield is 3.7%, the inverse of the P/E and a quick read on earnings relative to price.
LNWO Valuation & Market Position
With a $7.16B market cap, Light & Wonder, Inc. sits in the mid-cap segment of the market. Relative to its peer group, LNWO's quantitative score of 49/100 is below the peer average of 63/100.
Quarterly Financial Performance: Light & Wonder, Inc.
Revenue for Light & Wonder, Inc. came in at $828.0M during Q2 2026, a 4.8% improvement versus the preceding quarter. The company recorded net income of $120.0M, with diluted EPS of $1.53. Quarter-over-quarter revenue has been mixed, typical for a mid-cap company operating in Consumer Cyclical. Across the four most recent quarters, LNWO averaged $0.83 in diluted EPS.
Financial Health
Light & Wonder, Inc.'s Piotroski F-Score is 6/9, a 9-point checklist of profitability, leverage and efficiency — a middling fundamental profile. Its Altman Z-Score of 1.78 places it in the distress zone, a signal of elevated financial risk.
Earnings Track Record
Light & Wonder, Inc. has missed Wall Street's EPS estimate in 4 of its last 8 reported quarters — a mixed record worth weighing. Reported results have landed about 7.7% below estimates on average.
Forward Outlook
Wall Street analysts project Light & Wonder, Inc. revenue of about $3.42B for fiscal 2026, with EPS near $5.42. The estimate reflects 14 contributing analysts.
LNWO Financials
Fundamental Snapshot
Based on FMP financials and quantitative analysis · FY 2025
Bull Case vs Bear Case
Bull Case
- Recent insider buying suggests confidence in the company's future, indicating that executives believe in the growth potential.
- Community sentiment has turned increasingly positive, with discussions highlighting innovative product launches that could drive revenue.
- The gaming and entertainment sectors are showing resilience, and Light & Wonder is positioned well to capitalize on this trend.
- Market perception is buoyed by strategic partnerships that enhance their competitive edge in a rapidly evolving industry.
Bear Case
- Concerns over market saturation in the gaming industry may dampen growth expectations for Light & Wonder.
- Recent community discussions reflect skepticism about the sustainability of recent gains, with some traders expressing caution.
- Potential regulatory challenges in gaming markets could pose risks to future profitability and operational flexibility.
- Insider selling activity has raised eyebrows, leading to questions about the long-term outlook from those within the company.
AI-generated arguments based on insider flow, news sentiment and technicals — not financial advice · March 2026
Recent Quarterly Results
| Quarter | Revenue | Net Income | EPS |
|---|---|---|---|
| Q2 2026 | $828M | $120M | $1.53 |
| Q1 2026 | $790M | $52M | $0.66 |
| Q4 2025 | $890M | -$15M | -$0.19 |
| Q3 2025 | $841M | $114M | $1.34 |
Based on FMP financials and quantitative analysis
LNWO Latest News
No recent news available for LNWO.
LNWO Analyst Consensus
Consensus Rating
Aggregated Buy/Hold/Sell recommendations from Benzinga, Yahoo Finance, and Finnhub for LNWO.
Price Targets
Wall Street price target analysis for LNWO.
LNWO MoonshotScore
What does this score mean?
The MoonshotScore rates LNWO 0-100 on quantitative fundamentals — growth, financial health, valuation, momentum, and risk.
Leadership: Matthew Richard Wilson
CEO
Matthew Richard Wilson has extensive experience in the gaming and technology sectors. He has held various leadership roles throughout his career, focusing on strategic growth and operational excellence. Wilson's educational background includes a degree in business administration, equipping him with the skills necessary to lead a complex organization like Light & Wonder.
Track Record: Under Wilson's leadership, Light & Wonder has expanded its product offerings and enhanced its market position. His strategic decisions have driven growth in the company's digital gaming segments, positioning it well for future opportunities.
LNWO OTC Market Information
The OTC Other tier includes companies that trade on over-the-counter markets but do not meet the stringent listing requirements of major exchanges like NYSE or NASDAQ. This tier often includes smaller or less liquid stocks, which may present unique investment opportunities and risks.
- OTC Tier: OTC Other
- Lower liquidity compared to stocks on major exchanges, which may lead to higher volatility.
- Potential for limited financial transparency due to OTC trading status.
- Regulatory risks associated with operating in the gaming industry.
- Market perception challenges that can affect stock performance.
- Review the company's financial statements and SEC filings.
- Assess the competitive landscape and market positioning.
- Evaluate the management team's experience and track record.
- Monitor regulatory developments affecting the gaming industry.
- Examine the company's growth strategy and market opportunities.
- Established history since 1984, indicating stability.
- Regular financial disclosures and reporting to investors.
- Presence of a credible management team with industry experience.
Common Questions About LNWO (Consumer Cyclical)
What does the AI Score mean for LNWO?
LNWO holds an AI Score of 49/100 (Grade: C). This is an educational research signal, not a buy or sell recommendation. Light & Wonder, Inc. is a leading cross-platform games company based in Las Vegas, specializing in gaming content and technology. It operates through three segments: Gaming, SciPlay, and iGaming …
What does Light & Wonder, Inc. do?
Light & Wonder, Inc. operates as a cross-platform games company, providing a diverse range of gaming content and technology. The company segments include Gaming, which sells gaming machines and content; SciPlay, focusing on social games; and iGaming, offering digital gaming solutions. This diversified approach allows it to serve various customer segments in the gaming industry.
What are Light & Wonder, Inc.'s strongest brands and market positions?
Light & Wonder, Inc. has established a strong presence in the gaming industry through its diverse product offerings across Gaming, SciPlay, and iGaming segments. The company is recognized for its innovative gaming solutions and technology, which have garnered a loyal customer base among gaming operators and players alike. Its strategic focus on digital gaming and social gaming positions it well in a rapidly evolving market.
What are the main risks for LNWO?
Light & Wonder, Inc. faces several risks, including regulatory challenges that could impact its ability to operate in certain markets. Additionally, the company contends with intense competition from both traditional and online gaming firms, which may pressure margins and market share. Economic downturns can also affect consumer spending on gaming, posing a risk to revenue stability.
What are the key factors to evaluate for LNWO?
Light & Wonder, Inc. (LNWO) holds an AI score of 49/100 (low). presents a compelling investment thesis driven by its diversified revenue streams and strong market presence. Not financial advice.
How frequently does LNWO data refresh on this page?
LNWO's price was last updated on Aug 21, 2026 and refreshes on page view during U.S. market hours — it is not a real-time exchange feed. Fundamentals update after quarterly filings; the MoonshotScore recalculates nightly; news aggregates continuously.
What has driven LNWO's recent stock price performance?
Light & Wonder, Inc. (LNWO) moves on earnings results, analyst revisions, sector rotation, and market sentiment. Notable catalyst: Diverse revenue streams from multiple gaming segments. See the News tab for the latest drivers. Past performance does not predict future results.
Should investors consider LNWO overvalued or undervalued right now?
Light & Wonder, Inc. (LNWO) has no trailing P/E available here, so lean on price-to-sales and cash flow in the Financials tab. Compare P/E, P/S, and EV/EBITDA against sector peers for a full view.
How do I research LNWO before investing?
Before investing in Light & Wonder, Inc. (LNWO), research these four areas: (1) the company's revenue model and competitive position (see Company Overview), (2) financial health through revenue growth, margins, and cash flow (see MoonshotScore), (3) analyst consensus ratings and price targets (see Analyst tab), and (4) specific risk factors that could impact the stock (see Risk Factors section).
Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.
Official Resources
Data provided for informational purposes only.
- Data is based on available financial reports and market analysis.