Light & Wonder, Inc. (LNW) Stock

About Light & Wonder, Inc.

Light & Wonder, Inc. stands as a prominent creator of technology-driven products, services, and associated content for the global gaming landscape, encompassing land-based casinos, lotteries, social gaming, and interactive digital platforms, both within the United States and internationally. Its Gaming segment manufactures and distributes a comprehensive array of equipment, such as brand-new and pre-owned gaming machines, electronic table systems, video lottery terminals (VLTs), conversion kits for existing games, and essential spare parts. This division also furnishes table game accessories, including automatic card shufflers, and grants perpetual licenses for its exclusive table games. Furthermore, it delivers engaging game content and gaming hardware, extends specialized table game offerings and support to authorized gaming operators, and implements and maintains sophisticated casino management systems, ensuring continuous hardware and software upkeep and modernization. The SciPlay segment is dedicated to conceiving and publishing digital games accessible via mobile devices and web browsers. Its revenue model involves the sale of virtual currency—such as coins, chips, or bingo cards—which players then utilize to engage in various slot, table, or bingo game experiences. Through its iGaming segment, Light & Wonder delivers an extensive portfolio of digital real-money gaming solutions, encompassing content, distribution platforms, and a full spectrum of products and services. A key component of this offering is the Open Platform System (OPS), a robust suite of reporting and administrative functionalities designed to empower operators with comprehensive oversight of their digital gaming activities. Beyond its core segments, the corporation also extends its expertise through software design, development, licensing, ongoing maintenance, support services, and diverse technological solutions. Established in 1984, Light & Wonder, Inc. maintains its corporate headquarters in Las Vegas, Nevada.

Light & Wonder, Inc. is headquartered in US.

Light & Wonder, Inc. (LNW) stock trades at $99.75 with a market capitalization of $8.43B. The stock is valued at a price-to-earnings (P/E) ratio of 19.26, price-to-book of 24.89, price-to-sales of 2.83. Over the past 52 weeks the stock has ranged between $69.56 and $113.95, and currently trades 12.5% below its 52-week high.

On profitability, Light & Wonder, Inc. generates a return on equity (ROE) of 85.61%, above the typical market range of roughly 12-15%, return on capital employed of 11.30%, an operating margin of 21.62%, a net profit margin of 14.26%.

Official website: www.lnw.com

Light & Wonder, Inc. by the numbers, 2016–2025

Between 2016 and 2025 Light & Wonder, Inc. reported revenue of $2.9B rising to $3.3B, a change of +14.9% across 10 years. Compounded, revenue has grown 14.3% a year over five years, 9.7% over three, 4.0% over the last twelve months. Net profit rose to $454.0M.

Operating margin went from 4.5% in 2016 to 20.6% in 2025, a gain of 16.1 percentage points. The most recent net margin is 14.26%. On a trailing twelve-month basis to Mar '26, revenue is $3.0B and net profit $424.0M.

Borrowings fell from $8.1B to $82.0M, cash on hand is $147.0M, cash from operations was $794.0M in the latest year, positive in 9 of the last 10.

Return on equity has averaged 122.8% over five years, and was 185.3% in the most recent year.

The share price itself has compounded at —% a year over five years, —% over three, —% over the last year. Past price movement is history, not a forecast.

Figures are as reported and in the company's own reporting currency. They describe what has already happened and carry no implication about what follows.

Light & Wonder, Inc. (LNW) — frequently asked questions