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: 3.85
Index: ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$122.15

12 Mar
2026

-4.630

OPEN

$122.63

-3.65%

HIGH

$124.58

191,237

LOW

$120.79

TARGET
$202.50 65.8% 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) 1115.9 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 10.6 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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Morgans

xx/xx/xxxx

1

xxxxxxx xx xxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

27/02/2026

1

Buy

$220.00

80.11%

Light & Wonder reported 2025 earnings 1% above consensus. The North American installed base grew units to 48.33k, ahead of Bell Potter of 48.00k, with the base business growing by 700 units. The beat to consensus was driven by margin expansion initiatives.

Bell Potter expects a continuation in Light & Wonder's re-rate as long as the company executes on its strategy. Heightened investment in R&D will drive continued growth, the broker suggests, particularly in the Premium leased market.

Further, the broker believes the company's R&D engine is difficult to replicate with AI and therefore gives the company an enduring moat. Target falls to $220 from $230, Buy retained.

FORECAST
Bell Potter forecasts a full year FY26 dividend of 0.00 cents and EPS of 1211.43 cents.
Bell Potter forecasts a full year FY27 dividend of 0.00 cents and EPS of 1434.87 cents.

Citi

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

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

Canaccord Genuity

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Jarden

05/03/2026

1

Buy

$199.00

62.91%

Light & Wonder delivered 1H26 earnings up 29% year on year and 2% ahead of consensus. Operating leverage remained a key feature, Jarden notes, with earnings margins expanding 500bps year on year to 45%.

FY28 targets were reiterated, with the result providing improved confidence in the path. Well placed heading into FY26, Light & Wonder offers solid multi-channel growth across land-based gaming, iGaming and SciPlay, Jarden notes.

Now trading at 12x FY26 earnings, the stock remains a high conviction Buy for the broker. Target rises to $199 from $195.

FORECAST
Jarden forecasts a full year FY26 dividend of 0.00 cents and EPS of 1188.63 cents.
Jarden forecasts a full year FY27 dividend of 0.00 cents and EPS of 1399.91 cents.
Access Extra Coverage Research History >

LNW STOCK CHART

FNArena News on LNW

1
Rudi’s View: TACO Time?

Mar 11 2026 - Rudi's View
2
Weekly Ratings, Targets, Forecast Changes – 06-03-26

Mar 09 2026 - Weekly Reports
3
Australian Broker Call *Extra* Edition – Mar 05, 2026

Mar 05 2026 - Daily Market Reports
4
FNArena Corporate Results Monitor – 26-02-2026

Feb 26 2026 - Australia
5
Australian Broker Call *Extra* Edition – Feb 12, 2026

Feb 12 2026 - Daily Market Reports

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