Light & Wonder CDI (LAWIL) Financials
Newest figures come from the 10-Q for Q3 FY2026, filed Nov 4, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LAWIL SEC filings page.
Light & Wonder Inc CDI (LAWIL) reported $3.3B in revenue over the twelve months to Sep 30, 2026, up 3.4% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Cash generation improved, but FY2025’s heavier debt load and shrinking equity made the balance sheet far more leveraged.
Earnings quality looked stronger in cash terms than in accounting terms: FY2025 net income was$276M while operating cash flow reached$794M . The operating-cash-flow-to-net-income ratio climbed from188.1% in FY2024 to287.7% in FY2025, indicating stronger cash conversion even as reported profit weakened.
Gross margin reached
By FY2025, balance-sheet leverage was elevated: liabilities were
Financial Health Signals
We do not publish a peer-relative financial health score for Light & Wonder Inc CDI, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. The signals and metrics below are current.
Light & Wonder Inc CDI passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
For every $1 of reported earnings, Light & Wonder Inc CDI generates $2.88 in operating cash flow ($794.0M OCF vs $276.0M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Light & Wonder Inc CDI earns $2.18 in operating income for every $1 of interest expense ($683.0M vs $314.0M). This adequate coverage means the company can meet its interest obligations, but has limited cushion if earnings fall.
Key Financial Metrics
Earnings & Revenue
Light & Wonder Inc CDI generated $824.0M in revenue in Q3 2026. This represents a decrease of 2.0% from the same quarter a year earlier. Against the prior quarter it is down 0.5%.
Light & Wonder Inc CDI's EBITDA was $347.0M in Q3 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.0% from the same quarter a year earlier. Against the prior quarter it is up 2.1%.
Light & Wonder Inc CDI reported $133.0M in net income in Q3 2026. This represents an increase of 16.7% from the same quarter a year earlier. Against the prior quarter it is up 10.8%.
Light & Wonder Inc CDI earned $1.72 per diluted share (EPS) in Q3 2026. This represents an increase of 28.4% from the same quarter a year earlier. Against the prior quarter it is up 12.4%.
Cash & Balance Sheet
Light & Wonder Inc CDI generated $146.0M in free cash flow in Q3 2026, representing cash available after capex. This represents an increase of 39.0% from the same quarter a year earlier. Against the prior quarter it is down 7.6%.
Light & Wonder Inc CDI held $139.0M in cash against $4.9B in long-term debt as of Q3 2026.
Not reported for Q3 2026.
Margins & Returns
Light & Wonder Inc CDI's gross margin was 75.6% in Q3 2026, indicating the percentage of revenue retained after direct costs. This is up 1.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.0 percentage points.
Light & Wonder Inc CDI's operating margin was 29.4% in Q3 2026, reflecting core business profitability. This is up 2.1 percentage points from the same quarter a year earlier. Against the prior quarter it is up 2.4 percentage points.
Light & Wonder Inc CDI's net profit margin was 16.1% in Q3 2026, showing the share of revenue converted to profit. This is up 2.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 1.6 percentage points.
Light & Wonder Inc CDI's quarterly ROE was 31.4% in Q3 2026: one quarter's net income over shareholder equity, not annualized. This is up 15.7 percentage points from the same quarter a year earlier. Against the prior quarter it is down 8.3 percentage points.
Capital Allocation
Light & Wonder Inc CDI invested $56.0M in research and development in Q3 2026. This represents a decrease of 9.7% from the same quarter a year earlier. Against the prior quarter it is down 8.2%.
Light & Wonder Inc CDI repurchased no shares in Q3 2026. This represents a decrease of 100.0% from the same quarter a year earlier. Against the prior quarter it is down 100.0%.
Light & Wonder Inc CDI invested $90.0M in capex in Q3 2026, funding long-term assets and infrastructure. This represents an increase of 13.9% from the same quarter a year earlier. Against the prior quarter it is up 8.4%.
LAWIL Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $824.0M-2.0% | $828.0M+2.3% | $790.0M+2.1% | $890.0M+11.7% | $841.0M+2.9% | $809.0M-1.1% | $774.0M+2.4% | $797.0M+3.5% |
| Cost of Revenue | $201.0M-7.4% | $210.0M-4.1% | $194.0M-8.1% | $238.0M+3.5% | $217.0M-11.8% | $219.0M-7.2% | $211.0M-3.7% | $230.0M |
| Gross Profit | $623.0M-0.2% | $618.0M+4.7% | $596.0M+5.9% | $652.0M+15.0% | $624.0M+9.3% | $590.0M+1.4% | $563.0M+4.8% | $567.0M |
| R&D Expenses | $56.0M-9.7% | $61.0M-4.7% | $67.0M+3.1% | $61.0M-10.3% | $62.0M-6.1% | $64.0M-3.0% | $65.0M+4.8% | $68.0M+11.5% |
| SG&A Expenses | $212.0M-3.2% | $211.0M+1.4% | $237.0M+9.2% | $225.0M+5.1% | $219.0M-0.5% | $208.0M-5.5% | $217.0M-0.5% | $214.0M+2.4% |
| Operating Income | $242.0M+5.7% | $223.0M+10.4% | $130.0M-23.5% | $82.0M-51.5% | $229.0M+44.0% | $202.0M+15.4% | $170.0M+3.0% | $169.0M+8.3% |
| EBITDA | $347.0M+3.0% | $340.0M+13.0% | $238.0M-8.8% | $190.0M-28.8% | $337.0M+35.3% | $301.0M+14.9% | $261.0M+4.0% | $267.0M+10.8% |
| Income Tax | $34.0M+36.0% | $30.0M+3.4% | $10.0M-56.5% | $12.0M-50.0% | $25.0M+47.1% | $29.0M+11.5% | $23.0M+27.8% | $24.0Mn/m |
| Net Income | $133.0M+16.7% | $120.0M+26.3% | $52.0M-36.6% | -$15.0M-113.9% | $114.0M+78.1% | $95.0M+15.9% | $82.0M0.0% | $108.0M+61.2% |
| EPS (Basic) | $1.74+27.0% | $1.55+38.4% | $0.68-29.9% | -$0.13-110.7% | $1.37+90.3% | $1.12+21.7% | $0.97+6.6% | $1.22+64.9% |
| EPS (Diluted) | $1.72+28.4% | $1.53+37.8% | $0.66-29.8% | -$0.13-110.9% | $1.34+88.7% | $1.11+23.3% | $0.94+6.8% | $1.19+65.3% |
| Diluted Shares (Avg) | 78M-8.8% | 79M-8.3% | 79M-8.9% | N/A | 85M-6.6% | 86M-7.0% | 87M-5.5% | N/A |
Not reported in any period shown, so not listed: Interest Expense.
LAWIL Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $6.3B-2.9% | $6.4B-1.9% | $6.4B+16.7% | $6.5B+19.2% | $6.5B+16.3% | $6.5B+17.2% | $5.5B-2.4% | $5.4B-2.4% |
| Current Assets | $1.2B-9.9% | $1.2B+0.2% | $1.2B+1.8% | $1.3B+8.5% | $1.3B+3.4% | $1.2B-4.0% | $1.2B-11.6% | $1.2B-9.8% |
| Cash & Equivalents | $139.0M-41.1% | $148.0M+8.8% | $147.0M+9.7% | $167.0M-14.8% | $236.0M-32.0% | $136.0M-57.6% | $134.0M-70.2% | $196.0M-53.9% |
| Short-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Inventory | $194.0M+10.9% | $193.0M+3.2% | $185.0M+9.5% | $169.0M+7.0% | $175.0M-4.4% | $187.0M+0.5% | $169.0M-3.4% | $158.0M-10.7% |
| Accounts Receivable | $632.0M-4.1% | $640.0M-0.5% | $614.0M-2.4% | $689.0M+17.8% | $659.0M+13.6% | $643.0M+11.8% | $629.0M+24.8% | $585.0M+15.6% |
| Long-Term Investments | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| Goodwill | $3.4B+0.1% | $3.4B+0.3% | $3.4B+15.5% | $3.4B+16.6% | $3.4B+13.8% | $3.4B+14.7% | $2.9B-0.2% | $2.9B-1.9% |
| Total Liabilities | $5.9B+1.9% | $6.1B+4.7% | $6.1B+25.2% | $6.2B+29.9% | $5.8B+22.1% | $5.8B+21.8% | $4.8B+1.7% | $4.8B0.0% |
| Current Liabilities | $703.0M+13.2% | $715.0M+2.6% | $676.0M-10.2% | $803.0M+9.3% | $621.0M-8.7% | $697.0M+0.1% | $753.0M+11.2% | $735.0M+5.6% |
| Non-Current Liabilities | $5.2B+0.5% | $5.3B+5.0% | $5.4B+31.7% | $5.4B+33.7% | $5.2B+27.3% | $5.1B+25.5% | $4.1B+0.1% | $4.0B-1.0% |
| Long-Term Debt | $4.9B+0.5% | $5.1B+5.2% | $5.1B+30.8% | $5.1B+32.8% | $4.9B+27.1% | $4.8B+25.2% | $3.9B+0.8% | $3.8B-0.1% |
| Total Equity | $423.0M-41.5% | $302.0M-57.0% | $311.0M-49.8% | $245.0M-61.5% | $723.0M-15.7% | $702.0M-10.7% | $620.0M-25.7% | $636.0M-16.9% |
| Retained Earnings | $486.0M-62.8% | $353.0M-70.4% | $351.0M-68.0% | $1.3B+27.2% | $1.3B+43.9% | $1.2B+41.4% | $1.1B+44.1% | $1.0B+49.4% |
LAWIL Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $236.0M+28.3% | $241.0M+127.4% | $139.0M-24.9% | $319.0M+57.9% | $184.0M+55.9% | $106.0M-24.8% | $185.0M+8.2% | $202.0M+21.0% |
| Depreciation & Amortization | $105.0M-2.8% | $117.0M+18.2% | $108.0M+18.7% | $108.0M+11.3% | $108.0M+20.0% | $99.0M+13.8% | $91.0M+5.8% | $97.0M+12.8% |
| Stock-Based Compensation | $24.0M-14.3% | $33.0M+6.5% | $32.0M+18.5% | N/A | $28.0M-3.4% | $31.0M0.0% | $27.0M+22.7% | N/A |
| Capital Expenditures | $90.0M+13.9% | $83.0M+6.4% | $74.0M+21.3% | N/A | $79.0M | $78.0M | $61.0M | N/A |
| Free Cash Flow | $146.0M+39.0% | $158.0M+464.3% | $65.0M-47.6% | N/A | $105.0M | $28.0M | $124.0M | N/A |
| Investing Cash Flow | -$90.0Mn/m | -$83.0Mn/m | -$73.0Mn/m | -$92.0Mn/m | -$79.0Mn/m | -$938.0Mn/m | -$62.0Mn/m | -$29.0Mn/m |
| Financing Cash Flow | -$204.0Mn/m | -$162.0M-119.5% | -$79.0Mn/m | -$291.0Mn/m | -$48.0Mn/m | $831.0Mn/m | -$171.0Mn/m | -$262.0Mn/m |
| Share Buybacks | $0-100.0% | $141.0M+35.6% | $22.0M-86.7% | $500.0M+105.8% | $110.0M+150.0% | $104.0M-30.7% | $166.0M+564.0% | $243.0M+872.0% |
Not reported in any period shown, so not listed: Dividends Paid.
LAWIL Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q3'2610-Q | Q2'2610-Q | Q1'2610-Q | Q4'2510-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 75.6%+1.4pp | 74.6%+1.7pp | 75.4%+2.7pp | 73.3%+2.1pp | 74.2%+4.3pp | 72.9%+1.8pp | 72.7%+1.7pp | 71.1% |
| Operating Margin | 29.4%+2.1pp | 26.9%+2.0pp | 16.5%-5.5pp | 9.2%-12.0pp | 27.2%+7.8pp | 25.0%+3.6pp | 22.0%+0.1pp | 21.2%+0.9pp |
| Net Margin | 16.1%+2.6pp | 14.5%+2.7pp | 6.6%-4.0pp | -1.7%-15.2pp | 13.6%+5.7pp | 11.7%+1.7pp | 10.6%-0.3pp | 13.6%+4.9pp |
| Return on Equity | 31.4%+15.7pp | 39.7%+26.2pp | 16.7%+3.5pp | -6.1%-23.1pp | 15.8%+8.3pp | 13.5%+3.1pp | 13.2%+3.4pp | 17.0%+8.2pp |
| Return on Assets | 2.1%+0.3pp | 1.9%+0.4pp | 0.8%-0.7pp | -0.2%-2.2pp | 1.8%+0.6pp | 1.5%0.0pp | 1.5%0.0pp | 2.0%+0.8pp |
| Current Ratio | 1.69-0.4x | 1.730.0x | 1.78+0.2x | 1.600.0x | 2.13+0.2x | 1.77-0.1x | 1.57-0.4x | 1.61-0.3x |
| Debt-to-Equity | 11.62+4.9x | 16.78+9.9x | 16.34+10.1x | 20.86+14.8x | 6.77+2.3x | 6.86+2.0x | 6.26+1.7x | 6.05+1.0x |
| Liabilities-to-Equity | 13.94+5.9x | 20.07+11.8x | 19.47+11.7x | 25.38+17.9x | 8.00+2.5x | 8.25+2.2x | 7.80+2.1x | 7.52+1.3x |
| Asset Turnover | 0.130.0x | 0.130.0x | 0.120.0x | 0.140.0x | 0.130.0x | 0.120.0x | 0.140.0x | 0.150.0x |
| FCF Margin | 17.7%+5.2pp | 19.1%+15.6pp | 8.2%-7.8pp | N/A | 12.5% | 3.5% | 16.0% | N/A |
Where Light & Wonder Inc CDI Ranks
Frequently Asked Questions
Light & Wonder Inc CDI (LAWIL) reported $3.3B in total revenue for fiscal year 2025. This represents a 4.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Light & Wonder Inc CDI (LAWIL) revenue grew by 4.0% year-over-year, from $3.2B to $3.3B in fiscal year 2025.
Yes, Light & Wonder Inc CDI (LAWIL) reported a net income of $290.0M over the trailing 12 months to September 30, 2026. In fiscal year 2025 it reported a net income of $276.0M, with a net profit margin of 8.3%.
Light & Wonder Inc CDI (LAWIL) had EBITDA of $1.1B in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
As of fiscal year 2025, Light & Wonder Inc CDI (LAWIL) had $167.0M in cash and equivalents against $5.1B in long-term debt.
Light & Wonder Inc CDI (LAWIL) had a gross margin of 73.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
Light & Wonder Inc CDI (LAWIL) had an operating margin of 20.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
Light & Wonder Inc CDI (LAWIL) had a net profit margin of 8.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
Light & Wonder Inc CDI (LAWIL) has a return on equity of 112.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
Light & Wonder Inc CDI (LAWIL) generated $794.0M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
Light & Wonder Inc CDI (LAWIL) had $6.5B in total assets as of fiscal year 2025, including both current and long-term assets.
Light & Wonder Inc CDI (LAWIL) invested $252.0M in research and development during fiscal year 2025.
Light & Wonder Inc CDI (LAWIL) had a current ratio of 1.60 as of fiscal year 2025, which is generally considered healthy.
Light & Wonder Inc CDI (LAWIL) had a debt-to-equity ratio of 20.86 as of fiscal year 2025. We compute it as long-term debt divided by total shareholder equity, where long-term debt is the noncurrent part of the company's borrowings, so debt due within the next twelve months is not counted.
Light & Wonder Inc CDI (LAWIL) had a liabilities-to-equity ratio of 25.38 as of fiscal year 2025, which is total liabilities divided by total shareholder equity. Total liabilities counts every obligation on the balance sheet (payables, deposits, insurance reserves and deferred taxes as well as borrowings), so this ratio usually runs well above debt-to-equity.
Light & Wonder Inc CDI (LAWIL) had a return on assets of 4.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
Light & Wonder Inc CDI (LAWIL) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Light & Wonder Inc CDI (LAWIL) has an earnings quality ratio of 2.88x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Light & Wonder Inc CDI (LAWIL) has an interest coverage ratio of 2.18x, meaning it can adequately cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.