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

Enter the company code or Name for stock analysis:

LNW

LNW - LIGHT & WONDER INC

FNArena Sector : Gaming
Year End: December
GICS Industry Group : Consumer Services
Debt/EBITDA: 3.85
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$124.42

26 Mar
2026

1.040

OPEN

$121.98

0.84%

HIGH

$126.59

155,991

LOW

$121.76

TARGET
$200.00

-2.50 change from previous day

 60.7% 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 FY26
Forecast		 FY27
Forecast
EPS (cps) 1105.1 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 11.2 xxx
Dividend Yield 0.0% xxx
Div Pay Ratio(%) N/A xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

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 © 2026 FactSet UK Limited. All rights reserved
Title 202020212022202320242025
EPS Basic xxxxxxxxxxxxxxx515.7
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx5,139.5 M
Book Value Per Share xxxxxxxxxxxxxxx477.1
Net Operating Cash Flow xxxxxxxxxxxxxxx1,200.3 M
Net Profit Margin xxxxxxxxxxxxxxx8.33 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 202020212022202320242025
Return on Capital Employed xxxxxxxxxxxxxxx61.38 %
Return on Invested Capital xxxxxxxxxxxxxxx5.57 %
Return on Assets xxxxxxxxxxxxxxx4.64 %
Return on Equity xxxxxxxxxxxxxxx61.38 %
Return on Total Capital xxxxxxxxxxxxxxx18.01 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx719.6 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 202020212022202320242025
Short-Term Debt xxxxxxxxxxxxxxx106 M
Long Term Debt xxxxxxxxxxxxxxx7,706 M
Total Debt xxxxxxxxxxxxxxx7,813 M
Goodwill - Gross xxxxxxxxxxxxxxx5,055 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx391 M
Price To Book Value xxxxxxxxxxxxxxx33.02

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 202020212022202320242025
Capex xxxxxxxxxxxxxxx480.8 M
Capex % of Sales xxxxxxxxxxxxxxx9.35 %
Cost of Goods Sold xxxxxxxxxxxxxxx2,002 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,738 M
Research & Development xxxxxxxxxxxxxxx391 M
Investments - Total xxxxxxxxxxxxxxx15 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

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgans

02/03/2026

1

Upgrade to Buy from Accumulate

$195.00

56.73%

Light & Wonder produced a 2025 result that was largely in line. Morgans notes Grover continues to track ahead of expectations and North American outright sales hit a record.

The broker was encouraged by management's comments that  AI was both a growth opportunity and a defensive moat.

Morgans believes the technology will enhance the competitive edge of the business rather than erode, while the recent weakness in the share price appears disconnected from the durability of land-based earnings.

Rating is upgraded to Buy from Accumulate while the target is lowered to $195 from $200.

FORECAST
Morgans forecasts a full year FY26 dividend of 0.00 cents and EPS of 932.34 cents.
Morgans forecasts a full year FY27 dividend of 0.00 cents and EPS of 1091.27 cents.

Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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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Canaccord Genuity

05/03/2026

1

Buy

$195.00

56.73%

Canaccord Genuity highlights a strong 4Q25 and 2025 result from Light & Wonder, with adjusted EBITDA rising 29% in the quarter and 16% for the full year, modestly ahead of forecasts on strong margin execution.

Free cash flow improved significantly, with conversion reaching 80% of adjusted NPATA for FY25 and 109% in 4Q25, reflecting improved earnings quality.

The broker notes continued market share gains in North American gaming operations and strong machine sales momentum, although international machine sales remain uneven following weaker Australian performance.

SciPlay revenue softened slightly due to issues with the Jackpot Party title, though monetisation improvements and direct-to-consumer conversion partly offset user declines.

Buy rating retained. Target price rises to $195 from $192.

FORECAST
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 767.37 cents.
Canaccord Genuity forecasts a full year FY27 dividend of 0.00 cents and EPS of 842.14 cents.
Access Extra Coverage Research History >

LNW STOCK CHART

FNArena News on LNW

1
Australian Broker Call *Extra* Edition – Mar 25, 2026

Mar 25 2026 - Daily Market Reports
2
Australian Broker Call *Extra* Edition – Mar 17, 2026

Mar 17 2026 - Daily Market Reports
3
Rudi’s View: TACO Time?

Mar 11 2026 - Rudi's View
4
Weekly Ratings, Targets, Forecast Changes – 06-03-26

Mar 09 2026 - Weekly Reports
5
Australian Broker Call *Extra* Edition – Mar 05, 2026

Mar 05 2026 - Daily Market Reports

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