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Light & Wonder is principally an electronic gaming machine manufacturer, selling machines to pubs, clubs, and casinos. The firm is licensed in most jurisdictions allowing gambling globally. Light & Wonder is one of the three largest players in the space along with International Game Technology and Aristocrat Leisure. SciPlay, about one fourth of revenue, develops and distributes casual mobile games, principally in the social casino niche. The more nascent iGaming business sits between these two businesses, providing digital content and capabilities to real-money gaming providers.
1984
6.5K+
LTM Revenue $3.2B
LTM EBITDA $1.3B
$12.6B
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
Light & Wonder has a last 12-month revenue of $3.2B and a last 12-month EBITDA of $1.3B.
In the most recent fiscal year, Light & Wonder achieved revenue of $2.9B and an EBITDA of $898M.
Light & Wonder expects next 12-month revenue of XXX and NTM EBITDA of XXX
See Light & Wonder valuation multiples based on analyst estimates| FY 2022 | FY 2023 | FY 2024 | LTM | NTM | |
|---|---|---|---|---|---|
| Revenue | $2.2B | $2.5B | $2.9B | $3.2B | XXX |
| Gross Profit | $1.5B | $1.8B | $2.0B | XXX | XXX |
| Gross Margin | 72% | 71% | 70% | XXX | XXX |
| EBITDA | $582M | $584M | $898M | $1.3B | XXX |
| EBITDA Margin | 27% | 23% | 31% | 39% | XXX |
| Net Profit | $371M | $3.7B | $163M | XXX | XXX |
| Net Margin | 17% | 146% | 6% | XXX | XXX |
| Net Debt | $8.1B | $3.0B | $3.4B | XXX | XXX |
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As of February 21, 2025, Light & Wonder's stock price is $102.
Light & Wonder has current market cap of $9.0B, and EV of $12.6B.
See Light & Wonder trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $12.6B | $9.0B | XXX | XXX | XXX | XXX | $3.63 |
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Sign UpAs of February 21, 2025, Light & Wonder has market cap of $9.0B and EV of $12.6B.
Light & Wonder's trades at 3.9x LTM EV/Revenue multiple, and 10.0x LTM EBITDA.
Analysts estimate Light & Wonder's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See valuation multiples for Light & Wonder and 10K+ public comps| FY 2024 | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|
| EV | $12.6B | XXX | XXX | XXX |
| EV/Revenue | 4.3x | XXX | XXX | XXX |
| EV/EBITDA | 14.0x | XXX | XXX | XXX |
| P/E | 55.2x | XXX | XXX | XXX |
| P/E/Growth | 0.6x | XXX | XXX | XXX |
| EV/FCF | 36.1x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Sign UpLight & Wonder's NTM/LTM revenue growth is 8%
Light & Wonder's revenue per employee for the last fiscal year averaged $0.4M, while opex per employee averaged $0.2M for the same period.
Over next 12 months, Light & Wonder's ratio of sales and marketing spend to revenue is estimated to be XXX , while its R&D spend to revenue to be XXX .
Analysts estimate Light & Wonder's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
See operational valuation multiples for Light & Wonder and other 10K+ public comps| FY 2024 | NTM | FY 2025E | FY 2026E | FY 2027E | |
|---|---|---|---|---|---|
| Revenue Growth | 16% | XXX | XXX | XXX | XXX |
| EBITDA Margin | 31% | XXX | XXX | XXX | XXX |
| EBITDA Growth | 54% | XXX | XXX | XXX | XXX |
| Rule of 40 (SaaS-only) | 39% | XXX | XXX | XXX | XXX |
| Revenue per Employee | $0.4M | XXX | XXX | XXX | XXX |
| Opex per Employee | $0.2M | XXX | XXX | XXX | XXX |
| S&M Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| G&A Expenses to Revenue | n/a | XXX | XXX | XXX | XXX |
| R&D Expenses to Revenue | 8% | XXX | XXX | XXX | XXX |
| Opex to Revenue | 49% | XXX | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| High Roller Technologies | XXX | XXX | XXX | XXX | XXX | XXX |
| Ainsworth Game Technology | XXX | XXX | XXX | XXX | XXX | XXX |
| Aristocrat Leisure | XXX | XXX | XXX | XXX | XXX | XXX |
| BlueBet Holdings | XXX | XXX | XXX | XXX | XXX | XXX |
| BetMakers | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
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Light & Wonder acquired XXX companies to date.
Last acquisition by Light & Wonder was XXXXXXXX, XXXXX XXXXX XXXXXX . Light & Wonder acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
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Sign Up| When was Light & Wonder founded? | Light & Wonder was founded in 1984. |
| Where is Light & Wonder headquartered? | Light & Wonder is headquartered in United States of America. |
| How many employees does Light & Wonder have? | As of today, Light & Wonder has 6.5K+ employees. |
| Who is the CEO of Light & Wonder? | Light & Wonder's CEO is Mr. Matthew R. Wilson. |
| Is Light & Wonder publicy listed? | Yes, Light & Wonder is a public company listed on NAS. |
| What is the stock symbol of Light & Wonder? | Light & Wonder trades under LNW ticker. |
| When did Light & Wonder go public? | Light & Wonder went public in 1993. |
| Who are competitors of Light & Wonder? | Similar companies to Light & Wonder include e.g. High Roller Technologies, Ainsworth Game Technology, Aristocrat Leisure, BlueBet Holdings. |
| What is the current market cap of Light & Wonder? | Light & Wonder's current market cap is $9.0B |
| What is the current revenue of Light & Wonder? | Light & Wonder's last 12-month revenue is $3.2B. |
| What is the current EBITDA of Light & Wonder? | Light & Wonder's last 12-month EBITDA is $1.3B. |
| What is the current EV/Revenue multiple of Light & Wonder? | Current revenue multiple of Light & Wonder is 3.9x. |
| What is the current EV/EBITDA multiple of Light & Wonder? | Current EBITDA multiple of Light & Wonder is 10.0x. |
| What is the current revenue growth of Light & Wonder? | Light & Wonder revenue growth between 2023 and 2024 was 16%. |
| Is Light & Wonder profitable? | Yes, Light & Wonder is EBITDA-positive (as of the last 12 months). |
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