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: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Light & Wonder develops gaming machines, casino systems, digital gaming content and social casino games.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$115.08

09 Nov
2026

-1.380

OPEN

$116.00

-1.18%

HIGH

$119.88

175,765

LOW

$114.09

TARGET
$183.857 59.8% 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) 985.6 xxx
DPS (cps) 0.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 12.0 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: 0.00%

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

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

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Ord Minnett

06/11/2026

1

Buy

$210.00

82.48%

Light & Wonder's 3Q26 revenue declined -2% y/y, below consensus, while adjusted EBITDA rose 2% y/y, broadly in line with Ord Minnett's expectations. The broker highlights stronger-than-expected margins despite softer revenue, with year-to-date EBITDA up 5%.

Land-based gaming is viewed as a standout, with around 1,085 machines installed during the quarter and North American shipment market share increasing to an estimated 25% from 21%.

SciPlay revenue declined -12% y/y and EBITDA fell -6%, with ongoing weakness in social casino expected to persist.

FY26 EPS forecasts are lifted 1.6%, while FY27 forecasts are reduced -5% to reflect weaker SciPlay expectations.

Buy retained. Target reduced to $210 from $224 with the valuation seen as attractive relative to Aristocrat Leisure ((ALL)).

FORECAST
Ord Minnett forecasts a full year FY26 EPS of 1176.89 cents.
Ord Minnett forecasts a full year FY27 EPS of 1423.45 cents.

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Access Stockbroker Research History >
EXTRA COVERAGE
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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

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Jarden

09/11/2026

1

Buy

$180.00

56.41%

Jarden maintains a Buy rating for Light & Wonder with its target price decreased to $180 to reflect SciPlay-led earnings downgrades.

The analyst notes the company delivered US$383m in adjusted EBITDA during the third quarter of 2026, as 190 basis points of margin expansion was offset by a -12% year-on-year revenue decline at SciPlay.

Jarden explains that management's narrowed FY26 guidance indicates 5% to 6% adjusted EBITDA growth to between US$1,515m and US$1,530m, requiring fourth-quarter earnings of US$422m to US$437m.

While noting investor concerns regarding top-line growth, Jarden expects revenue to accelerate 7% year-on-year in FY27, even assuming SciPlay declines by a further -6%.

FY26 and FY27 earnings per share estimates remain unchanged following a lower effective tax rate and the removal of share-based payment dilution.

Jarden views a potential dip in leverage below 3.0x as a key re-rating catalyst.
Access Extra Coverage Research History >

LNW STOCK CHART

FNArena News on LNW

1
Australian Broker Call *Extra* Edition – Nov 09, 2026

Nov 09 2026 - Daily Market Reports
2
FNArena Corporate Results Monitor – 06-11-2026

Nov 06 2026 - Australia
3
Rudi’s View: Previews To November Results

Nov 05 2026 - Rudi's View
4
October In Review: ASX Gains From AI Fallout

Nov 04 2026 - Australia
5
Rudi’s View: Optimism Up, Headwinds Remain

Nov 04 2026 - Rudi's View

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