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

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LNW - LIGHT & WONDER INC

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

LAST PRICE CHANGE +/- CHANGE % VOLUME

$139.01

20 Nov
2024

-2.980

OPEN

$140.00

-2.10%

HIGH

$140.55

271,355

LOW

$139.01

TARGET
$178.60 28.5% upside
OTHER COMPANIES IN THE SAME SECTOR
AGI . ALL . BET . JIN . PBH . PLY . SGR . SKC . TAH . TLC . TLC .
FNARENA'S MARKET CONSENSUS FORECASTS
LNW: 1
Title FY22
Actual		 FY23
Actual		 FY24
Forecast		 FY25
Forecast
EPS (cps) xxx 269.9 380.6 xxx
DPS (cps) xxx 0.0 0.0 xxx
EPS Growth xxx N/A 41.0% xxx
DPS Growth xxx N/A N/A xxx
PE Ratio xxx N/A 37.3 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 © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx269.9
DPS All xxxxxxxxxxxxxxx0.0
Sales/Revenue xxxxxxxxxxxxxxx4,372.0 M
Book Value Per Share xxxxxxxxxxxxxxx1,245.7
Net Operating Cash Flow xxxxxxxxxxxxxxx888.9 M
Net Profit Margin xxxxxxxxxxxxxxx5.62 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx19.03 %
Return on Invested Capital xxxxxxxxxxxxxxx3.50 %
Return on Assets xxxxxxxxxxxxxxx2.89 %
Return on Equity xxxxxxxxxxxxxxx19.03 %
Return on Total Capital xxxxxxxxxxxxxxx12.75 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx524.3 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 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx60 M
Long Term Debt xxxxxxxxxxxxxxx5,702 M
Total Debt xxxxxxxxxxxxxxx5,762 M
Goodwill - Gross xxxxxxxxxxxxxxx4,316 M
Cash & Equivalents - Generic xxxxxxxxxxxxxxx755 M
Price To Book Value xxxxxxxxxxxxxxx9.71

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx364.6 M
Capex % of Sales xxxxxxxxxxxxxxx8.34 %
Cost of Goods Sold xxxxxxxxxxxxxxx1,892 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,561 M
Research & Development xxxxxxxxxxxxxxx343 M
Investments - Total xxxxxxxxxxxxxxx38 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

Ord Minnett

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

14/11/2024

1

Outperform

$180.00

29.49%

Light & Wonder reconfirmed its FY25 EBITDA target of $1.4bn in its 3Q25 results. The company's revenues came in slightly lower than Macquarie's forecast by -1%, with EBITDA 2% better than estimated.

Gaming continued to show momentum, the installed base increased by almost 600 units, 31% growth in North American shipments, and 13.1k unit sales.

Macquarie notes the North American installed base has grown for 17 consecutive quarters and the company held the number one ship share in 3Q25.

The broker notes iGaming grew 4% for the quarter and suggests growth prospects remain strong with US state legislation and new content.

Management replaced or converted 95% of the approximately 2.2k Dragon Train units in North America.

The Outperform rating remains unchanged. Changes to FX assumptions lift the target price to $180 from $169.

FORECAST
Macquarie forecasts a full year FY24 dividend of 0.00 cents and EPS of 325.00 cents.
Macquarie forecasts a full year FY25 dividend of 0.00 cents and EPS of 607.00 cents.

Bell Potter

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxx

$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

Goldman Sachs

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

18/11/2024

1

Buy

$173.00

24.45%

Jarden highlights Light & Wonder delivered a slightly lower-than-expected Q3 earnings (AEBITDA) of US$319m, impacted by restructuring and other charges, though North American market share gains remain strong.

The company reaffirmed its FY25 earnings target of US$1.4bn and introduced profit NPATA guidance between US$565m–635m, supporting the broker’s view of resilience in Light & Wonder's core Gaming Ops and Social Casino segments.

Despite lower revenue-per-day in Gaming Ops, driven partly by product mix adjustments, Jarden sees long-term growth prospects due to strong customer demand for new games and expansions into adjacent markets.

The broker revises AEBITDA and EPS down by an average of -0.1% and -8.1% over FY24-26 to reflect recent adjustments but considers the company well-positioned to deliver profitable growth into FY25.

The target price decreases to $173 from $174, and the Buy rating is maintained.

FORECAST
Jarden forecasts a full year FY24 dividend of 0.00 cents and EPS of 377.70 cents.
Jarden forecasts a full year FY25 dividend of 0.00 cents and EPS of 573.30 cents.

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Extra Coverage Research History >

LNW STOCK CHART

FNArena News on LNW

1
Australian Broker Call *Extra* Edition – Nov 18, 2024

Nov 18 2024 - Daily Market Reports
2
Weekly Ratings, Targets, Forecast Changes – 15-11-24

Nov 18 2024 - Weekly Reports
3
FNArena Corporate Results Monitor – 15-11-2024

Nov 15 2024 - Australia
4
Rudi’s View: A Rally With No Earnings Support

Nov 14 2024 - Rudi's View
5
Australian Broker Call *Extra* Edition – Nov 12, 2024

Nov 12 2024 - Daily Market Reports

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