Light & Wonder (LNWO)
What the price implies
A reverse DCF: instead of guessing a fair value, it asks what growth today's price already assumes. How it works.
Fundamental grade
Five factors scored 1 to 9 from LNWO's latest numbers, weighted into one grade. It describes the business, not whether the stock is a buy.
Key numbers
Results from SEC filings
Fiscal years, from Light & Wonder's 10-K filings. The deep dive has 15+ years, quarters and every line.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $2.2B | $2.5B | $2.9B | $3.2B | $3.3B |
| Net income | $371M | $3.7B | $163M | $336M | $276M |
| Free cash flow | — | — | — | — | — |
| EPS (diluted) | $3.77 | $38.78 | $1.75 | $3.68 | $3.26 |
| Operating margin | 5.1% | 10.9% | 17.8% | 21.0% | 20.6% |
Where the revenue comes from
Revenue by segments, fiscal 2025.
Superinvestors who own LNWO
From each investor's latest 13F filing (what a 13F shows).
Insider buying
Open-market purchases by Light & Wonder's executives and directors in the last 12 months, from SEC Form 4 filings. What insider buying tells you.
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In the full deep dive
Questions
Are Light & Wonder insiders buying the stock?
No open-market insider purchases of LNWO in the last 12 months, according to SEC Form 4 filings.
Prices and ratios as of Oct 7, 2026; statements from SEC filings. Information only, not investment advice. Superinvestor holdings come from 13F filings, which are filed up to 45 days after each quarter ends.