LIGHT & WONDER INC (LNW)
Share Price Analysis and Chart

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LNW

LNW - LIGHT & WONDER INC

FNArena Sector : Gaming
Year End: December
GICS Industry Group : Consumer Services
Debt/EBITDA: 3.72
Index: ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$162.94

27 Mar
2025

-6.160

OPEN

$167.47

-3.64%

HIGH

$168.92

168,916

LOW

$162.94

TARGET
$204.20 25.3% upside
OTHER COMPANIES IN THE SAME SECTOR
AGI . ALL . BBT . BET . JIN . PBH . PLY . SGR . SKC . TAH . TLC . TLC .
FNARENA'S MARKET CONSENSUS FORECASTS
LNW: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 572.4 606.8 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx 100.0% 6.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 24.9 xxx
Dividend Yield xxx N/A 0.0% xxx
Div Pay Ratio(%) xxx N/A N/A xxx

Dividend yield today if purchased 3 years ago: N/A

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 0.00

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages
HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic xxxxxxxxxxxxxxx572.4
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx4,833.2 M
Book Value Per Share xxxxxxxxxxxxxxx1,194.4
Net Operating Cash Flow xxxxxxxxxxxxxxx952.1 M
Net Profit Margin xxxxxxxxxxxxxxx10.54 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed xxxxxxxxxxxxxxx47.42 %
Return on Invested Capital xxxxxxxxxxxxxxx7.22 %
Return on Assets xxxxxxxxxxxxxxx6.03 %
Return on Equity xxxxxxxxxxxxxxx47.42 %
Return on Total Capital xxxxxxxxxxxxxxx16.23 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx506.4 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201920202021202220232024
Short-Term Debt xxxxxxxxxxxxxxx63 M
Long Term Debt xxxxxxxxxxxxxxx6,263 M
Total Debt xxxxxxxxxxxxxxx6,326 M
Goodwill - Gross xxxxxxxxxxxxxxx4,668 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx494 M
Price To Book Value xxxxxxxxxxxxxxx11.48

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex xxxxxxxxxxxxxxx445.7 M
Capex % of Sales xxxxxxxxxxxxxxx9.22 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,959 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,719 M
Research & Development xxxxxxxxxxxxxxx397 M
Investments - Total xxxxxxxxxxxxxxx40 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

1.0

No. Of Recommendations

5
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

27/02/2025

1

Buy

$200.00

22.74%

Light & Wonder reported 4Q 2024 adjusted EBITDA of US$315m, 1% ahead of Citi and 2% ahead of consensus, supported by gaming operations growth and strong title performance, Citi notes.

The broker highlights Huff N Puff reaching 750 units and expects 2,700 net additions in FY25, driving 12% adjusted EBITDA growth for gaming.

SciPlay's direct-to-consumer penetration rose to 13%, with the analyst forecasting 15% by FY26, supporting margin expansion. iGaming grew 9%, though no new US state legalisations are expected in FY25.

The broker raises FY25/26 adjusted EBITDA estimates by 1%, reflecting higher gaming growth.

Citi maintains a buy rating with a target price of $200.00.

FORECAST
Citi forecasts a full year FY25 dividend of 0.00 cents and EPS of 549.00 cents.
Citi forecasts a full year FY26 dividend of 0.00 cents and EPS of 683.90 cents.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

3

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Goldman Sachs

05/03/2025

1

Buy

$184.60

13.29%

Goldman Sachs notes Light & Wonder's 2024 revenue rose 10%, and adjusted net profit after tax lifted up 24% year-on-year, in line with the broker's expectations.

The analyst points to strong 4Q 2024 Gaming Ops net installs, with momentum expected to continue in 2025. North American fee per day trends are improving, and outright sales grew 25% in 4Q, driven by replacement units and new casino openings.

The broker believes margin expansion opportunities remain, particularly in SciPlay and iGaming.

Weakness in international shipments and a decline in SciPlay revenue due to lower daily active users were noted by Goldman Sachs as negatives.

Target price rises 7% to $184.60. Buy rating retained.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 0.00 cents and EPS of 1062.07 cents.
Goldman Sachs forecasts a full year FY26 dividend of 0.00 cents and EPS of 1204.60 cents.

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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LNW STOCK CHART

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