Light & Wonder (LNW) Financials

$91.90 +5.89 (+6.84%)

As of 02:10 PM Eastern

Annual Income Statements for Light & Wonder

This table shows Light & Wonder's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Income / (Loss) Attributable to Common Shareholders	336	163	3,675	371	-569	-130	-352	-242	-354	0.00
Consolidated Net Income / (Loss)	336	180	3,697	390	-548	-118	-352	-242	-354	0.00
Net Income / (Loss) Continuing Operations	336	180	-176	24	-801	-330	-352	-242	-354	0.00
Total Pre-Tax Income	421	205	-163	-294	-804	-377	-339	-227	-479	0.00
Total Operating Income	668	518	273	110	-245	290	266	394	131	0.00
Total Gross Profit	2,257	2,030	1,774	1,544	1,089	1,642	2,108	1,920	1,777	0.00
Total Revenue	3,188	2,902	2,512	2,153	1,699	2,388	3,363	3,084	2,883	0.00
Operating Revenue	3,188	2,902	2,512	2,153	1,699	2,388	3,363	3,084	2,883	-
Total Cost of Revenue	931	872	738	609	610	746	1,255	1,164	1,106	0.00
Operating Cost of Revenue	931	872	738	609	610	746	1,255	1,164	1,106	-
Total Operating Expenses	1,589	1,512	1,501	1,434	1,334	1,352	1,842	1,526	1,647	0.00
Selling, General & Admin Expense	872	808	717	679	627	619	697	613	577	-
Research & Development Expense	262	228	218	190	148	166	202	184	205	-
Depreciation Expense	361	384	420	398	449	542	690	683	739	-
Restructuring Charge	94	92	146	167	56	25	253	46	57	-
Total Other Income / (Expense), net	-247	-313	-436	-404	-559	-667	-605	-621	-609	0.00
Interest Expense	295	324	474	478	504	689	690	648	636	-
Other Income / (Expense), net	48	11	38	74	-55	22	60	0.00	14	-
Income Tax Expense	85	25	13	-318	-3.00	-47	13	15	-125	-
Net Income / (Loss) Discontinued Operations	0.00	0.00	3,873	366	253	212	-	-	-	-
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	17	22	19	21	12	0.00	0.00	-	-
Basic Earnings per Share	$3.77	$1.79	$38.78	$3.86	($6.02)	($1.40)	($3.87)	($2.72)	($4.05)	($16.23)
Weighted Average Basic Shares Outstanding	89M	91M	95M	96M	95M	93M	91M	89M	87.30M	85.90M
Diluted Earnings per Share	$3.68	$1.75	$38.78	$3.77	($6.02)	($1.40)	($3.87)	($2.72)	($4.05)	($16.23)
Weighted Average Diluted Shares Outstanding	91M	93M	95M	98M	95M	93M	91M	89M	87.30M	85.90M
Weighted Average Basic & Diluted Shares Outstanding	84.47M	89.83M	91.00M	96.68M	95.39M	93.87M	91.10M	89.10M	87.30M	85.90M

This table shows Light & Wonder's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Income / (Loss) Attributable to Common Shareholders	82	108	64	82	82	67	75	-1.00	22	30	328
Consolidated Net Income / (Loss)	82	108	64	82	82	68	80	5.00	27	39	335
Net Income / (Loss) Continuing Operations	82	108	64	82	82	68	80	5.00	27	21	20
Total Pre-Tax Income	105	132	81	108	100	65	94	20	26	26	24
Total Operating Income	170	169	159	175	165	156	147	113	102	98	89
Total Gross Profit	563	567	571	582	537	536	513	513	468	477	455
Total Revenue	774	797	817	818	756	770	731	731	670	682	648
Operating Revenue	774	797	817	818	756	770	731	731	670	682	648
Total Cost of Revenue	211	230	246	236	219	234	218	218	202	205	193
Operating Cost of Revenue	211	230	246	236	219	234	218	218	202	205	193
Total Operating Expenses	393	398	412	407	372	380	366	400	366	379	366
Selling, General & Admin Expense	217	214	220	220	218	209	204	203	192	182	181
Research & Development Expense	65	68	66	66	62	61	55	58	54	53	56
Depreciation Expense	91	98	90	87	86	85	90	108	101	103	102
Restructuring Charge	20	18	36	34	6.00	25	17	31	19	41	27
Total Other Income / (Expense), net	-65	-37	-78	-67	-65	-91	-53	-93	-76	-72	-65
Interest Expense	69	70	75	75	75	78	93	78	75	73	68
Other Income / (Expense), net	4.00	33	-3.00	8.00	10	-13	40	-15	-1.00	1.00	3.00
Income Tax Expense	23	24	17	26	18	-3.00	14	15	-1.00	5.00	4.00
Basic Earnings per Share	$0.97	$1.22	$0.72	$0.92	$0.91	$0.73	$0.83	($0.01)	$0.24	$0.44	$3.47
Weighted Average Basic Shares Outstanding	85M	89M	89M	90M	90M	91M	91M	91M	91M	95M	94M
Diluted Earnings per Share	$0.94	$1.19	$0.71	$0.90	$0.88	$0.72	$0.81	($0.01)	$0.23	$0.49	$3.42
Weighted Average Diluted Shares Outstanding	87M	91M	91M	92M	92M	93M	92M	91M	93M	95M	96M
Weighted Average Basic & Diluted Shares Outstanding	84.38M	84.47M	88.31M	88.72M	90.14M	89.83M	90.05M	91.36M	91.12M	91.00M	93.67M

This table details how cash moves in and out of Light & Wonder's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Net Change in Cash & Equivalents	-209	-446	266	-442	768	564	-614	677	-9.90	-
Net Cash From Operating Activities	632	590	-381	685	471	546	346	507	419	-
Net Cash From Continuing Operating Activities	632	590	-425	304	33	209	346	507	419	-
Net Income / (Loss) Continuing Operations	336	180	-176	24	-801	94	-352	-242	-354	-
Consolidated Net Income / (Loss)	336	180	3,697	390	-548	-118	-352	-242	-354	-
Net Income / (Loss) Discontinued Operations	0.00	0.00	3,873	366	253	-212	-	-	-	-
Depreciation Expense	361	384	420	398	449	542	690	683	739	-
Non-Cash Adjustments To Reconcile Net Income	135	155	203	103	291	156	140	93	130	-
Changes in Operating Assets and Liabilities, net	-200	-129	-872	-221	94	-173	-132	-27	-96	-
Net Cash From Discontinued Operating Activities	0.00	0.00	44	381	438	337	-	-	-	-
Net Cash From Investing Activities	-258	-251	6,116	-442	-173	-263	-798	-415	-228	-
Net Cash From Continuing Investing Activities	-258	-248	-252	-347	-126	-220	-798	-415	-228	-
Purchase of Property, Plant & Equipment	-294	-242	-216	-171	-137	-224	-391	-294	-273	-
Acquisitions	-5.00	-4.00	-136	-186	-13	0.00	-477	-165	-1.20	-
Sale and/or Maturity of Investments	41	-2.00	50	10	24	-	-	-	-	-
Other Investing Activities, net	0.00	0.00	50	0.00	0.00	4.00	70	44	29	-
Net Cash From Discontinued Investing Activities	0.00	-3.00	6,368	-95	-47	-43	-	-	-	-
Net Cash From Financing Activities	-577	-788	-5,463	-679	463	-129	-156	580	-196	-
Net Cash From Continuing Financing Activities	-577	-788	-5,460	-655	469	-126	-156	580	-196	-
Repayment of Debt	-15	-797	-7,410	-642	-583	-3,002	-3,162	-1,945	-500	-
Repurchase of Common Equity	-462	-193	-442	0.00	0.00	-9.00	0.00	0.00	-	-
Issuance of Debt	0.00	755	2,480	60	1,080	2,570	3,072	2,587	360	-
Other Financing Activities, net	-100	-553	-88	-73	-32	-27	-66	-62	-56	-
Net Cash From Discontinued Financing Activities	0.00	0.00	-3.00	-24	-6.00	-3.00	-	-	-	-
Effect of Exchange Rate Changes	-6.00	3.00	-6.00	-6.00	7.00	-	-	5.00	-4.90	-
Cash Interest Paid	286	306	351	453	471	549	633	633	622	-
Cash Income Taxes Paid	164	147	692	38	22	41	33	33	22	-

This table details how cash moves in and out of Light & Wonder's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Net Change in Cash & Equivalents	-45	-95	-15	-131	32	-426	-17	-66	63	-359	304
Net Cash From Operating Activities	185	202	118	141	171	167	204	34	185	-87	-351
Net Cash From Continuing Operating Activities	185	202	118	141	171	167	204	34	185	-79	-359
Net Income / (Loss) Continuing Operations	82	108	64	82	82	68	80	5.00	27	21	20
Consolidated Net Income / (Loss)	82	108	64	82	82	68	80	5.00	27	39	335
Non-Cash Adjustments To Reconcile Net Income	107	-176	76	125	110	-237	72	182	138	-285	119
Changes in Operating Assets and Liabilities, net	-4.00	-91	-22	-66	-21	-48	52	-153	20	-235	-498
Net Cash From Investing Activities	-62	-29	-71	-87	-71	-61	-72	-61	-57	-28	685
Net Cash From Continuing Investing Activities	-62	-29	-71	-87	-71	-58	-72	-61	-57	-28	-54
Purchase of Property, Plant & Equipment	-61	-70	-71	-87	-66	-60	-70	-59	-53	-58	-58
Other Investing Activities, net	-1.00	5.00	-	-	-5.00	8.00	-2.00	-2.00	-4.00	-	-
Net Cash From Financing Activities	-171	-262	-65	-185	-65	-537	-146	-40	-65	-250	-24
Net Cash From Continuing Financing Activities	-171	-262	-65	-185	-65	-537	-146	-40	-65	-250	-24
Repayment of Debt	-75	-10	-	-5.00	0.00	-210	-576	-5.00	-6.00	-43	-55
Repurchase of Common Equity	-166	-243	-44	-150	-25	-48	-112	3.00	-36	-221	-11
Issuance of Debt	110	-	-	-	-	205	-	-	-	-	50
Other Financing Activities, net	-40	-9.00	-21	-30	-40	-484	-8.00	-38	-23	14	-8.00
Effect of Exchange Rate Changes	3.00	-6.00	3.00	-	-3.00	5.00	-3.00	1.00	0.00	6.00	-6.00
Cash Interest Paid	54	78	62	83	63	85	74	84	63	80	52
Cash Income Taxes Paid	24	46	48	62	8.00	28	23	87	9.00	195	474

This table presents Light & Wonder's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Total Assets	5,421	5,552	6,009	7,883	7,984	7,809	7,718	7,725	-	7,732
Total Current Assets	1,183	1,311	1,694	1,732	2,181	1,615	1,369	1,876	-	1,176
Cash & Equivalents	196	425	914	585	928	313	168	789	-	129
Restricted Cash	110	90	47	41	45	51	39	29	-	20
Accounts Receivable	585	506	455	423	438	755	599	541	-	487
Inventories, net	158	177	161	98	119	244	216	243	-	249
Prepaid Expenses	134	113	117	88	98	252	233	131	-	123
Plant, Property, & Equipment, net	286	236	204	213	242	500	547	568	-	794
Total Noncurrent Assets	3,952	4,005	4,111	5,938	5,561	5,694	5,802	5,281	-	5,763
Noncurrent Note & Lease Receivables	97	37	14	17	19	53	40	53	-	51
Goodwill	2,890	2,945	2,919	2,892	2,730	3,280	3,280	2,956	-	3,014
Intangible Assets	615	763	942	1,063	1,231	1,774	2,094	1,944	-	2,406
Noncurrent Deferred & Refundable Income Taxes	229	142	114	349	106	-	-	-	-	-
Other Noncurrent Operating Assets	115	112	116	131	99	303	77	58	-	45
Other Noncurrent Nonoperating Assets	6.00	6.00	6.00	1,486	1,376	11	13	16	-	18
Total Liabilities & Shareholders' Equity	5,421	5,552	6,009	7,883	7,984	7,809	7,718	7,725	-	7,732
Total Liabilities	4,785	4,787	4,848	9,989	10,508	9,917	10,181	9,752	-	9,228
Total Current Liabilities	735	696	622	974	832	766	747	740	-	654
Short-Term Debt	23	22	24	44	44	45	45	40	-	50
Accounts Payable	216	241	154	204	150	226	225	190	-	160
Accrued Expenses	447	404	380	428	343	495	477	509	-	444
Current Deferred & Payable Income Tax Liabilities	49	29	64	16	-	-	-	-	-	-
Total Noncurrent Liabilities	4,050	4,091	4,226	9,015	9,676	9,151	9,434	9,013	-	8,574
Long-Term Debt	3,847	3,852	3,870	8,646	9,259	8,680	8,992	8,736	-	8,157
Noncurrent Deferred & Payable Income Tax Liabilities	12	20	87	35	46	91	108	73	-	228
Other Noncurrent Operating Liabilities	191	219	269	210	233	380	334	203	-	189
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Total Equity & Noncontrolling Interests	636	765	1,161	-2,106	-2,524	-2,108	-2,463	-2,027	-	-1,496
Total Preferred & Common Equity	636	765	990	-2,256	-2,653	-2,212	-2,463	-2,027	-	-1,496
Total Common Equity	636	765	990	-2,256	-2,653	-2,212	-2,463	-2,027	-	-1,496
Common Stock	1,201	1,119	1,371	1,338	1,269	1,209	836	809	-	767
Retained Earnings	1,016	680	517	-3,158	-3,529	-2,954	-2,824	-2,461	-	-1,865
Treasury Stock	-1,216	-751	-580	-175	-175	-175	-175	-175	-	-175
Accumulated Other Comprehensive Income / (Loss)	-365	-283	-318	-261	-218	-292	-300	-200	-	-222

This table presents Light & Wonder's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	3/31/2025	9/30/2024	6/30/2024	3/31/2024	9/30/2023	6/30/2023	3/31/2023	9/30/2022
Total Assets	5,455	5,596	5,538	5,588	5,887	5,962	6,022	6,246
Total Current Assets	1,184	1,279	1,289	1,340	1,720	1,735	1,762	2,048
Cash & Equivalents	134	347	321	450	891	909	931	1,277
Restricted Cash	128	54	95	97	50	48	93	42
Accounts Receivable	629	580	575	504	477	499	458	426
Inventories, net	169	183	186	175	183	183	172	137
Prepaid Expenses	124	115	112	114	119	96	108	166
Plant, Property, & Equipment, net	291	281	269	246	229	214	214	202
Total Noncurrent Assets	3,980	4,036	3,980	4,002	3,938	4,013	4,046	3,996
Noncurrent Note & Lease Receivables	93	93	60	57	11	12	14	16
Goodwill	2,919	2,954	2,925	2,925	2,903	2,930	2,922	2,865
Intangible Assets	595	662	691	728	789	835	884	897
Noncurrent Deferred & Refundable Income Taxes	256	215	180	166	112	112	112	92
Other Noncurrent Operating Assets	112	106	118	120	117	117	108	119
Other Noncurrent Nonoperating Assets	5.00	6.00	6.00	6.00	6.00	7.00	6.00	7.00
Total Liabilities & Shareholders' Equity	5,455	5,596	5,538	5,588	5,887	5,962	6,022	6,246
Total Liabilities	4,835	4,738	4,752	4,753	4,741	4,732	4,838	5,014
Total Current Liabilities	753	680	696	677	619	577	642	802
Short-Term Debt	23	23	22	22	22	23	23	24
Accounts Payable	244	200	277	211	162	171	189	176
Accrued Expenses	434	429	362	381	403	371	362	352
Current Deferred & Payable Income Tax Liabilities	52	28	35	63	32	12	68	250
Total Noncurrent Liabilities	4,082	4,058	4,056	4,076	4,122	4,155	4,196	4,212
Long-Term Debt	3,884	3,850	3,849	3,852	3,855	3,863	3,867	3,874
Noncurrent Deferred & Payable Income Tax Liabilities	12	20	19	20	43	51	71	143
Other Noncurrent Operating Liabilities	186	188	188	204	224	241	258	195
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	620	858	786	835	1,146	1,230	1,184	1,232
Total Preferred & Common Equity	620	858	786	835	959	1,048	1,008	1,071
Total Common Equity	620	858	786	835	959	1,048	1,008	1,071
Common Stock	1,227	1,183	1,176	1,155	1,403	1,388	1,389	1,377
Retained Earnings	1,098	908	844	762	613	538	539	487
Treasury Stock	-1,383	-972	-927	-776	-726	-613	-608	-378
Accumulated Other Comprehensive Income / (Loss)	-322	-261	-307	-306	-331	-265	-312	-415

This table displays calculated financial ratios and metrics derived from Light & Wonder's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
Period end date	12/31/2024	12/31/2023	12/31/2022	12/31/2021	12/31/2020	12/31/2019	12/31/2018	12/31/2017	12/31/2016	12/31/2015
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	9.86%	15.53%	16.67%	26.72%	-28.85%	-28.99%	9.05%	6.96%	0.00%	-100.00%
EBITDA Growth	17.96%	24.90%	25.60%	290.60%	-82.55%	-15.94%	-5.66%	21.94%	0.00%	-100.00%
EBIT Growth	35.35%	70.10%	69.02%	161.33%	-196.15%	-4.29%	-17.26%	172.66%	0.00%	100.00%
NOPAT Growth	17.22%	138.01%	148.18%	144.90%	-184.48%	9.02%	-32.49%	201.68%	0.00%	100.00%
Net Income Growth	86.67%	-95.13%	847.95%	171.17%	-364.41%	66.48%	-45.45%	31.58%	0.00%	100.00%
EPS Growth	110.29%	-95.49%	928.65%	162.62%	-330.00%	63.82%	-42.28%	32.84%	75.05%	-485.92%
Operating Cash Flow Growth	7.12%	254.86%	-155.62%	45.44%	-13.74%	57.80%	-31.76%	21.00%	0.00%	0.00%
Free Cash Flow Firm Growth	7.60%	-12.24%	7,968.33%	-99.60%	412.93%	239.29%	96.13%	-184.05%	328.15%	130.56%
Invested Capital Growth	1.85%	0.73%	-6.69%	1.65%	-27.79%	-1.44%	6.97%	0.00%	-100.00%	-19.16%
Revenue Q/Q Growth	0.85%	3.13%	4.23%	36.61%	9.83%	-30.22%	1.87%	2.36%	2,535.65%	-100.00%
EBITDA Q/Q Growth	7.16%	2.93%	10.09%	64.87%	-38.68%	-39.22%	38.87%	10.25%	-20.65%	100.00%
EBIT Q/Q Growth	8.98%	9.07%	30.67%	4,500.00%	-57.07%	-58.12%	836.78%	35.67%	-87.02%	100.00%
NOPAT Q/Q Growth	-2.66%	23.41%	52.51%	623.81%	-10.36%	-68.34%	547.20%	38.93%	-91.79%	100.00%
Net Income Q/Q Growth	13.51%	19.21%	-1.60%	88.41%	-8.30%	-189.39%	41.61%	21.94%	-134.54%	100.00%
EPS Q/Q Growth	14.64%	15.13%	-1.20%	102.69%	-8.86%	-204.48%	41.63%	22.29%	5.81%	-6.22%
Operating Cash Flow Q/Q Growth	5.86%	75.60%	-460.29%	10.84%	3.52%	38.93%	-27.00%	8.99%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	52.54%	339.99%	-24.51%	-99.46%	305.76%	-38.90%	-256.32%	-1,274.09%	189.37%	130.04%
Invested Capital Q/Q Growth	-3.01%	1.03%	7.47%	1.41%	-20.71%	0.18%	4.57%	-0.75%	-100.00%	-10.61%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	70.80%	69.95%	70.62%	71.71%	64.10%	68.76%	62.68%	62.26%	61.63%	0.00%
EBITDA Margin	33.78%	31.46%	29.10%	27.03%	8.77%	35.76%	30.21%	34.92%	30.63%	0.00%
Operating Margin	20.95%	17.85%	10.87%	5.11%	-14.42%	12.14%	7.91%	12.78%	4.53%	0.00%
EBIT Margin	22.46%	18.23%	12.38%	8.55%	-17.66%	13.07%	9.69%	12.78%	5.01%	0.00%
Profit (Net Income) Margin	10.54%	6.20%	147.17%	18.11%	-32.25%	-4.94%	-10.47%	-7.85%	-12.27%	0.00%
Tax Burden Percent	79.81%	87.80%	-2,268.10%	-132.65%	68.16%	31.30%	103.83%	106.61%	73.89%	0.00%
Interest Burden Percent	58.80%	38.75%	-52.41%	-159.78%	268.00%	-120.83%	-103.99%	-57.61%	-331.28%	0.00%
Effective Tax Rate	20.19%	12.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	12.83%	11.09%	4.51%	1.77%	-3.34%	3.38%	3.18%	9.74%	2.89%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	7.12%	2.33%	79.00%	6.47%	-8.39%	-0.49%	-3.46%	-3.73%	-8.50%	0.00%
Return on Net Nonoperating Assets (RNNOA)	35.14%	7.61%	-786.95%	-18.62%	27.00%	1.79%	12.50%	14.13%	44.41%	0.00%
Return on Equity (ROE)	47.97%	18.69%	-782.43%	-16.85%	23.66%	5.16%	15.68%	23.88%	47.30%	0.00%
Cash Return on Invested Capital (CROIC)	11.00%	10.35%	11.43%	0.14%	28.94%	4.82%	-3.55%	-190.26%	202.89%	21.18%
Operating Return on Assets (OROA)	13.05%	9.15%	4.48%	2.32%	-3.80%	4.02%	4.22%	10.20%	3.74%	0.00%
Return on Assets (ROA)	6.12%	3.11%	53.22%	4.92%	-6.94%	-1.52%	-4.56%	-6.27%	-9.15%	0.00%
Return on Common Equity (ROCE)	47.97%	17.03%	-1,048.21%	-17.86%	24.85%	5.28%	15.68%	23.88%	47.30%	0.00%
Return on Equity Simple (ROE_SIMPLE)	52.83%	23.53%	373.43%	-17.29%	20.66%	5.33%	14.29%	11.94%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	533	455	191	77	-172	203	186	276	91	0.00
NOPAT Margin	16.72%	15.67%	7.61%	3.58%	-10.09%	8.50%	5.54%	8.94%	3.17%	0.00%
Net Nonoperating Expense Percent (NNEP)	5.70%	8.75%	-74.48%	-4.70%	5.05%	3.87%	6.64%	13.47%	11.40%	0.00%
Return On Investment Capital (ROIC_SIMPLE)	11.83%	9.80%	3.78%	-	-	-	-	-	-	-
Cost of Revenue to Revenue	29.20%	30.05%	29.38%	28.29%	35.90%	31.24%	37.32%	37.74%	38.37%	0.00%
SG&A Expenses to Revenue	27.35%	27.84%	28.54%	31.54%	36.90%	25.92%	20.73%	19.88%	20.01%	0.00%
R&D to Revenue	8.22%	7.86%	8.68%	8.82%	8.71%	6.95%	6.01%	5.97%	7.10%	0.00%
Operating Expenses to Revenue	49.84%	52.10%	59.75%	66.60%	78.52%	56.62%	54.77%	49.48%	57.10%	0.00%
Earnings before Interest and Taxes (EBIT)	716	529	311	184	-300	312	326	394	145	0.00
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,077	913	731	582	149	854	1,016	1,077	883	0.00
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.99	9.67	5.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.39	2.55	2.19	3.00	2.32	1.05	0.49	1.49	0.43	0.00
Price to Earnings (P/E)	22.70	45.36	1.49	17.39	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.40%	2.20%	66.95%	5.75%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	2.67	2.61	2.10	3.35	2.88	1.79	1.68	2.17	0.00	1.36
Enterprise Value to Revenue (EV/Rev)	3.51	3.71	3.42	6.81	7.30	4.48	3.02	3.99	0.43	0.00
Enterprise Value to EBITDA (EV/EBITDA)	10.39	11.78	11.76	25.20	83.27	12.52	10.01	11.42	1.39	0.00
Enterprise Value to EBIT (EV/EBIT)	15.63	20.33	27.63	79.70	0.00	34.26	31.20	31.23	8.48	0.00
Enterprise Value to NOPAT (EV/NOPAT)	20.99	23.64	44.97	190.44	0.00	52.66	54.63	44.61	13.41	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	17.71	18.23	0.00	21.41	26.34	19.58	29.40	24.27	2.93	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	24.48	25.31	17.75	2,443.99	8.34	36.86	0.00	0.00	0.19	5.75
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.08	5.06	3.35	-4.13	-3.69	-4.14	-3.67	-4.33	0.00	-5.49
Long-Term Debt to Equity	6.05	5.04	3.33	-4.11	-3.67	-4.12	-3.65	-4.31	0.00	-5.45
Financial Leverage	4.93	3.26	-9.96	-2.88	-3.22	-3.63	-3.61	-3.79	-5.22	-10.47
Leverage Ratio	7.83	6.00	-14.70	-3.43	-3.41	-3.40	-3.44	-3.81	-5.17	-11.70
Compound Leverage Factor	4.61	2.33	7.70	5.48	-9.14	4.10	3.58	2.20	17.13	0.00
Debt to Total Capital	85.89%	83.51%	77.03%	131.99%	137.23%	131.86%	137.47%	130.03%	0.00%	122.28%
Short-Term Debt to Total Capital	0.51%	0.47%	0.47%	0.67%	0.65%	0.68%	0.68%	0.60%	0.00%	0.75%
Long-Term Debt to Total Capital	85.38%	83.04%	76.56%	131.32%	136.58%	131.18%	136.78%	129.43%	0.00%	121.53%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	3.38%	2.28%	1.90%	1.57%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	14.11%	16.49%	19.58%	-34.26%	-39.14%	-33.43%	-37.47%	-30.03%	0.00%	-22.28%
Debt to EBITDA	3.59	4.24	5.33	14.93	62.44	10.22	8.89	8.15	0.00	0.00
Net Debt to EBITDA	3.31	3.68	4.01	13.86	55.91	9.47	8.40	7.15	0.00	0.00
Long-Term Debt to EBITDA	3.57	4.22	5.29	14.86	62.14	10.16	8.85	8.11	0.00	0.00
Debt to NOPAT	7.26	8.52	20.38	112.86	-54.24	42.98	48.53	31.82	0.00	0.00
Net Debt to NOPAT	6.69	7.39	15.35	104.73	-48.57	39.84	45.82	27.94	0.00	0.00
Long-Term Debt to NOPAT	7.22	8.47	20.25	112.29	-53.99	42.76	48.29	31.68	0.00	0.00
Altman Z-Score	2.34	2.07	1.60	0.29	-0.10	0.19	0.26	0.58	0.00	-0.21
Noncontrolling Interest Sharing Ratio	0.00%	8.88%	-33.97%	-6.03%	-5.03%	-2.28%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.61	1.88	2.72	1.78	2.62	2.11	1.83	2.54	0.00	1.80
Quick Ratio	1.06	1.34	2.20	1.03	1.64	1.39	1.18	1.99	0.00	1.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	457	425	484	6.00	1,488	290	-208	-5,386	6,408	1,497
Operating Cash Flow to CapEx	214.97%	243.80%	-176.39%	400.58%	343.80%	243.75%	88.49%	172.45%	163.54%	0.00%
Free Cash Flow to Firm to Interest Expense	1.55	1.31	1.02	0.01	2.95	0.42	-0.30	-8.31	10.07	0.00
Operating Cash Flow to Interest Expense	2.14	1.82	-0.80	1.43	0.93	0.79	0.50	0.78	0.66	0.00
Operating Cash Flow Less CapEx to Interest Expense	1.15	1.07	-1.26	1.08	0.66	0.47	-0.07	0.33	0.26	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.58	0.50	0.36	0.27	0.22	0.31	0.44	0.80	0.75	0.00
Accounts Receivable Turnover	5.84	6.04	5.72	5.00	2.85	3.53	5.90	0.00	0.00	0.00
Inventory Turnover	5.56	5.16	5.70	5.61	3.36	3.24	5.47	0.00	0.00	0.00
Fixed Asset Turnover	12.21	13.19	12.05	9.46	4.58	4.56	6.03	0.00	0.00	0.00
Accounts Payable Turnover	4.07	4.42	4.12	3.44	3.24	3.31	6.04	0.00	0.00	0.00
Days Sales Outstanding (DSO)	62.46	60.44	63.79	72.98	128.15	103.48	61.86	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	65.67	70.74	64.05	65.03	108.60	112.53	66.76	0.00	0.00	0.00
Days Payable Outstanding (DPO)	89.58	82.67	88.53	106.08	112.49	110.33	60.41	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	38.54	48.51	39.31	31.93	124.26	105.68	68.21	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,194	4,118	4,088	4,381	4,310	5,969	6,056	5,662	0.00	6,316
Invested Capital Turnover	0.77	0.71	0.59	0.50	0.33	0.40	0.57	1.09	0.91	0.00
Increase / (Decrease) in Invested Capital	76	30	-293	71	-1,659	-87	394	5,662	-6,316	-1,497
Enterprise Value (EV)	11,192	10,753	8,593	14,664	12,408	10,689	10,172	12,304	1,226	8,603
Market Capitalization	7,628	7,394	5,489	6,450	3,949	2,497	1,640	4,599	1,226	773
Book Value per Share	$7.20	$8.50	$10.57	($23.38)	($27.88)	($23.72)	($26.86)	($22.61)	$0.00	($17.34)
Tangible Book Value per Share	($32.49)	($32.68)	($30.65)	($64.35)	($69.50)	($77.92)	($85.46)	($77.28)	$0.00	($80.19)
Total Capital	4,506	4,639	5,055	6,584	6,779	6,617	6,574	6,750	0.00	6,712
Total Debt	3,870	3,874	3,894	8,690	9,303	8,725	9,037	8,777	0.00	8,207
Total Long-Term Debt	3,847	3,852	3,870	8,646	9,259	8,680	8,992	8,736	0.00	8,157
Net Debt	3,564	3,359	2,933	8,064	8,330	8,088	8,532	7,705	0.00	7,830
Capital Expenditures (CapEx)	294	242	216	171	137	224	391	294	256	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	165	122	135	176	420	530	460	359	0.00	423
Debt-free Net Working Capital (DFNWC)	471	637	1,096	802	1,393	894	667	1,177	0.00	572
Net Working Capital (NWC)	448	615	1,072	758	1,349	849	622	1,137	0.00	522
Net Nonoperating Expense (NNE)	197	275	-3,506	-313	377	321	538	518	445	0.00
Net Nonoperating Obligations (NNO)	3,558	3,353	2,927	6,487	6,834	8,077	8,519	7,689	0.00	7,812
Total Depreciation and Amortization (D&A)	361	384	420	398	449	542	690	683	739	0.00
Debt-free, Cash-free Net Working Capital to Revenue	5.18%	4.20%	5.37%	8.17%	24.72%	22.19%	13.68%	11.64%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	14.77%	21.95%	43.63%	37.25%	81.99%	37.44%	19.83%	38.16%	0.00%	0.00%
Net Working Capital to Revenue	14.05%	21.19%	42.68%	35.21%	79.40%	35.55%	18.50%	36.85%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$3.77	$1.79	$38.78	$3.86	($6.02)	($1.40)	($3.87)	($2.72)	($4.05)	($16.23)
Adjusted Weighted Average Basic Shares Outstanding	89M	91M	95M	96M	95M	93M	91.10M	89.10M	87.30M	85.90M
Adjusted Diluted Earnings per Share	$3.68	$1.75	$38.78	$3.77	($6.02)	($1.40)	($3.87)	($2.72)	($4.05)	($16.23)
Adjusted Weighted Average Diluted Shares Outstanding	91M	93M	95M	98M	95M	93M	91.10M	89.10M	87.30M	85.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	84.47M	89.83M	91.00M	96.68M	95.39M	93.87M	92.25M	89.10M	88.13M	86.53M
Normalized Net Operating Profit after Tax (NOPAT)	608	536	293	194	-95	221	363	308	180	0.00
Normalized NOPAT Margin	19.08%	18.46%	11.68%	9.01%	-5.56%	9.23%	10.80%	9.99%	6.23%	0.00%
Pre Tax Income Margin	13.21%	7.06%	-6.49%	-13.66%	-47.32%	-15.79%	-10.08%	-7.36%	-16.60%	0.00%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.43	1.63	0.66	0.38	-0.60	0.45	0.47	0.61	0.23	0.00
NOPAT to Interest Expense	1.81	1.40	0.40	0.16	-0.34	0.29	0.27	0.43	0.14	0.00
EBIT Less CapEx to Interest Expense	1.43	0.89	0.20	0.03	-0.87	0.13	-0.09	0.15	-0.18	0.00
NOPAT Less CapEx to Interest Expense	0.81	0.66	-0.05	-0.20	-0.61	-0.03	-0.30	-0.03	-0.26	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	137.50%	107.22%	11.96%	0.00%	0.00%	-7.63%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Light & Wonder's official financial filings.

Metric	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022	Q3 2022
Period end date	3/31/2025	12/31/2024	9/30/2024	6/30/2024	3/31/2024	12/31/2023	9/30/2023	6/30/2023	3/31/2023	12/31/2022	9/30/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	2.38%	3.51%	11.76%	11.90%	12.84%	12.90%	12.81%	19.84%	17.13%	17.59%	20.22%
EBITDA Growth	1.53%	31.58%	-11.19%	31.07%	29.21%	12.87%	42.78%	17.71%	26.25%	49.63%	34.72%
EBIT Growth	-0.57%	41.26%	-16.58%	86.73%	73.27%	44.44%	103.26%	44.12%	94.23%	280.77%	91.67%
NOPAT Growth	-1.88%	-15.27%	0.42%	370.34%	27.73%	106.18%	68.68%	-12.27%	278.30%	2,726.92%	211.62%
Net Income Growth	0.00%	58.82%	-20.00%	1,540.00%	203.70%	74.36%	-76.12%	-99.85%	-3.57%	-60.61%	79.14%
EPS Growth	6.82%	65.28%	-12.35%	9,100.00%	282.61%	46.94%	-76.32%	-100.03%	-11.54%	-48.96%	85.87%
Operating Cash Flow Growth	8.19%	20.96%	-42.16%	314.71%	-7.57%	291.95%	158.12%	191.89%	96.81%	-138.50%	-287.70%
Free Cash Flow Firm Growth	23.44%	-53.25%	16.69%	107.11%	-95.88%	-64.21%	-124.89%	-134.84%	-32.55%	645.68%	-48.22%
Invested Capital Growth	2.50%	1.85%	6.08%	2.00%	2.77%	0.73%	7.15%	21.33%	-10.21%	-6.69%	-11.94%
Revenue Q/Q Growth	-2.89%	-2.45%	-0.12%	8.20%	-1.82%	5.34%	0.00%	9.10%	-1.76%	5.25%	6.23%
EBITDA Q/Q Growth	-11.67%	21.95%	-8.89%	3.45%	14.47%	-17.69%	34.47%	1.98%	0.00%	4.12%	10.86%
EBIT Q/Q Growth	-13.86%	29.49%	-14.75%	4.57%	22.38%	-23.53%	90.82%	-2.97%	2.02%	7.61%	35.29%
NOPAT Q/Q Growth	-3.99%	10.06%	-5.45%	-1.80%	-17.10%	30.45%	342.85%	-73.33%	33.82%	6.72%	130.33%
Net Income Q/Q Growth	-24.07%	68.75%	-21.95%	0.00%	20.59%	-15.00%	1,500.00%	-81.48%	-30.77%	-88.36%	-89.83%
EPS Q/Q Growth	-21.01%	67.61%	-21.11%	2.27%	22.22%	-11.11%	8,200.00%	-104.35%	-53.06%	-85.67%	-90.12%
Operating Cash Flow Q/Q Growth	-8.42%	71.19%	-16.31%	-17.54%	2.40%	-18.14%	500.00%	-81.62%	312.64%	75.21%	-848.65%
Free Cash Flow Firm Q/Q Growth	-53.81%	150.89%	-345.38%	114.04%	-82.51%	190.68%	79.07%	-224.00%	52.07%	-36.94%	-70.70%
Invested Capital Q/Q Growth	1.57%	-3.01%	2.10%	1.90%	0.92%	1.03%	-1.83%	2.67%	-1.08%	7.47%	11.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	72.74%	71.14%	69.89%	71.15%	71.03%	69.61%	70.18%	70.18%	69.85%	69.94%	70.22%
EBITDA Margin	34.24%	37.64%	30.11%	33.01%	34.52%	29.61%	37.89%	28.18%	30.15%	29.62%	29.94%
Operating Margin	21.96%	21.20%	19.46%	21.39%	21.83%	20.26%	20.11%	15.46%	15.22%	14.37%	13.73%
EBIT Margin	22.48%	25.35%	19.09%	22.37%	23.15%	18.57%	25.58%	13.41%	15.07%	14.52%	14.20%
Profit (Net Income) Margin	10.59%	13.55%	7.83%	10.02%	10.85%	8.83%	10.94%	0.68%	4.03%	5.72%	51.70%
Tax Burden Percent	78.10%	81.82%	79.01%	75.93%	82.00%	104.62%	85.11%	25.00%	103.85%	150.00%	1,395.83%
Interest Burden Percent	60.34%	65.35%	51.92%	59.02%	57.14%	45.45%	50.27%	20.41%	25.74%	26.26%	26.09%
Effective Tax Rate	21.90%	18.18%	20.99%	24.07%	18.00%	-4.62%	14.89%	75.00%	-3.85%	19.23%	16.67%
Return on Invested Capital (ROIC)	13.07%	13.31%	11.57%	11.91%	13.04%	14.99%	12.22%	2.79%	9.65%	6.89%	6.79%
ROIC Less NNEP Spread (ROIC-NNEP)	11.61%	12.43%	9.65%	10.31%	11.32%	11.96%	10.58%	1.92%	7.99%	6.03%	12.53%
Return on Net Nonoperating Assets (RNNOA)	55.54%	61.33%	30.79%	32.59%	34.65%	38.99%	24.49%	4.71%	-79.69%	-60.09%	-118.71%
Return on Equity (ROE)	68.61%	74.64%	42.36%	44.51%	47.69%	53.98%	36.71%	7.49%	-70.03%	-53.20%	-111.92%
Cash Return on Invested Capital (CROIC)	10.14%	11.00%	7.14%	11.06%	9.20%	10.35%	2.45%	-11.20%	16.25%	11.43%	15.79%
Operating Return on Assets (OROA)	13.05%	14.73%	10.51%	11.96%	11.92%	9.32%	11.87%	5.88%	5.63%	5.25%	4.85%
Return on Assets (ROA)	6.15%	7.87%	4.31%	5.36%	5.58%	4.43%	5.08%	0.30%	1.51%	2.07%	17.68%
Return on Common Equity (ROCE)	68.61%	74.64%	38.41%	40.49%	43.54%	49.19%	31.34%	6.34%	-94.14%	-71.28%	-147.52%
Return on Equity Simple (ROE_SIMPLE)	54.19%	0.00%	34.50%	39.69%	28.14%	0.00%	15.75%	38.74%	366.67%	0.00%	350.79%
Net Operating Profit after Tax (NOPAT)	133	138	126	133	135	163	125	28	106	79	74
NOPAT Margin	17.15%	17.35%	15.38%	16.24%	17.90%	21.19%	17.11%	3.86%	15.81%	11.61%	11.45%
Net Nonoperating Expense Percent (NNEP)	1.46%	0.88%	1.93%	1.60%	1.72%	3.03%	1.64%	0.86%	1.66%	0.85%	-5.74%
Return On Investment Capital (ROIC_SIMPLE)	2.93%	3.07%	-	-	-	3.52%	-	-	-	1.57%	-
Cost of Revenue to Revenue	27.26%	28.86%	30.11%	28.85%	28.97%	30.39%	29.82%	29.82%	30.15%	30.06%	29.78%
SG&A Expenses to Revenue	28.04%	26.85%	26.93%	26.89%	28.84%	27.14%	27.91%	27.77%	28.66%	26.69%	27.93%
R&D to Revenue	8.40%	8.53%	8.08%	8.07%	8.20%	7.92%	7.52%	7.93%	8.06%	7.77%	8.64%
Operating Expenses to Revenue	50.78%	49.94%	50.43%	49.76%	49.21%	49.35%	50.07%	54.72%	54.63%	55.57%	56.48%
Earnings before Interest and Taxes (EBIT)	174	202	156	183	175	143	187	98	101	99	92
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	265	300	246	270	261	228	277	206	202	202	194
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.80	11.99	9.38	12.03	11.01	9.67	6.80	5.98	5.42	5.54	3.78
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	2.28	2.39	2.55	3.07	3.08	2.55	2.32	2.29	2.09	2.19	1.68
Price to Earnings (P/E)	21.77	22.70	27.29	30.89	41.22	45.36	51.72	16.53	1.49	1.49	1.08
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	4.59%	4.40%	3.66%	3.24%	2.43%	2.20%	1.93%	6.05%	67.18%	66.95%	92.46%
Enterprise Value to Invested Capital (EV/IC)	2.57	2.67	2.66	3.05	3.01	2.61	2.36	2.26	2.10	2.10	1.78
Enterprise Value to Revenue (EV/Rev)	3.42	3.51	3.65	4.20	4.19	3.71	3.43	3.43	3.26	3.42	2.82
Enterprise Value to EBITDA (EV/EBITDA)	10.14	10.39	11.46	12.46	12.88	11.78	10.87	11.66	11.00	11.76	10.22
Enterprise Value to EBIT (EV/EBIT)	15.33	15.63	17.54	18.76	20.76	20.33	19.88	24.04	23.63	27.63	28.51
Enterprise Value to NOPAT (EV/NOPAT)	20.65	20.99	21.04	23.61	25.58	23.64	26.15	30.67	36.28	44.97	54.15
Enterprise Value to Operating Cash Flow (EV/OCF)	16.97	17.71	19.30	18.90	21.74	18.23	28.69	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	25.68	24.48	38.45	27.84	33.18	25.31	99.83	0.00	12.25	17.75	10.58
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	6.30	6.08	4.51	4.92	4.64	5.06	3.38	3.16	3.29	3.35	3.16
Long-Term Debt to Equity	6.26	6.05	4.49	4.90	4.61	5.04	3.36	3.14	3.27	3.33	3.14
Financial Leverage	4.78	4.93	3.19	3.16	3.06	3.26	2.31	2.45	-9.97	-9.96	-9.47
Leverage Ratio	7.59	7.83	5.73	5.70	5.75	6.00	5.10	5.67	-14.66	-14.70	-14.70
Compound Leverage Factor	4.58	5.12	2.98	3.37	3.29	2.73	2.56	1.16	-3.77	-3.86	-3.83
Debt to Total Capital	86.30%	85.89%	81.86%	83.12%	82.27%	83.51%	77.18%	75.96%	76.67%	77.03%	75.98%
Short-Term Debt to Total Capital	0.51%	0.51%	0.49%	0.47%	0.47%	0.47%	0.44%	0.45%	0.45%	0.47%	0.47%
Long-Term Debt to Total Capital	85.80%	85.38%	81.38%	82.65%	81.80%	83.04%	76.75%	75.51%	76.21%	76.56%	75.52%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.72%	3.56%	3.47%	3.38%	3.14%
Common Equity to Total Capital	13.70%	14.11%	18.14%	16.88%	17.73%	16.49%	19.09%	20.48%	19.87%	19.58%	20.88%
Debt to EBITDA	3.61	3.59	3.85	3.74	3.99	4.24	4.37	4.83	5.03	5.33	5.87
Net Debt to EBITDA	3.37	3.31	3.45	3.33	3.42	3.68	3.31	3.64	3.71	4.01	3.88
Long-Term Debt to EBITDA	3.59	3.57	3.83	3.72	3.96	4.22	4.35	4.80	5.00	5.29	5.83
Debt to NOPAT	7.36	7.26	7.07	7.08	7.92	8.52	10.52	12.71	16.59	20.38	31.11
Net Debt to NOPAT	6.87	6.69	6.34	6.32	6.80	7.39	7.97	9.58	12.22	15.35	20.58
Long-Term Debt to NOPAT	7.32	7.22	7.03	7.04	7.87	8.47	10.46	12.64	16.49	20.25	30.92
Altman Z-Score	1.98	2.03	2.03	2.20	2.13	1.84	1.78	1.67	1.51	1.49	1.27
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	9.33%	9.03%	8.72%	8.88%	14.63%	15.35%	-34.42%	-33.97%	-31.80%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.57	1.61	1.88	1.85	1.98	1.88	2.78	3.01	2.74	2.72	2.55
Quick Ratio	1.01	1.06	1.36	1.29	1.41	1.34	2.21	2.44	2.16	2.20	2.12
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	29	62	-122	50	23	133	-147	-702	566	372	590
Operating Cash Flow to CapEx	303.28%	288.57%	166.20%	162.07%	259.09%	278.33%	291.43%	57.63%	349.06%	-150.00%	-605.17%
Free Cash Flow to Firm to Interest Expense	0.42	0.89	-1.63	0.66	0.31	1.71	-1.58	-9.00	7.55	5.10	8.68
Operating Cash Flow to Interest Expense	2.68	2.89	1.57	1.88	2.28	2.14	2.19	0.44	2.47	-1.19	-5.16
Operating Cash Flow Less CapEx to Interest Expense	1.80	1.89	0.63	0.72	1.40	1.37	1.44	-0.32	1.76	-1.99	-6.01
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.58	0.58	0.55	0.53	0.51	0.50	0.46	0.44	0.37	0.36	0.34
Accounts Receivable Turnover	5.66	5.84	5.98	5.73	6.21	6.04	6.23	5.98	5.87	5.72	5.73
Inventory Turnover	5.37	5.56	5.11	4.92	5.12	5.16	5.27	5.24	5.47	5.70	5.81
Fixed Asset Turnover	11.94	12.21	12.40	12.73	12.99	13.19	13.06	13.04	12.70	12.05	11.48
Accounts Payable Turnover	4.06	4.07	5.17	4.05	4.45	4.42	4.99	4.88	4.03	4.12	4.10
Days Sales Outstanding (DSO)	64.50	62.46	61.03	63.74	58.76	60.44	58.56	61.08	62.16	63.79	63.69
Days Inventory Outstanding (DIO)	68.02	65.67	71.44	74.25	71.23	70.74	69.28	69.61	66.68	64.05	62.82
Days Payable Outstanding (DPO)	89.96	89.58	70.66	90.14	82.11	82.67	73.17	74.74	90.55	88.53	89.04
Cash Conversion Cycle (CCC)	42.55	38.54	61.81	47.85	47.88	48.51	54.67	55.95	38.30	39.31	37.47
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	4,260	4,194	4,324	4,235	4,156	4,118	4,076	4,152	4,044	4,088	3,804
Invested Capital Turnover	0.76	0.77	0.75	0.73	0.73	0.71	0.71	0.72	0.61	0.59	0.59
Increase / (Decrease) in Invested Capital	104	76	248	83	112	30	272	730	-460	-293	-516
Enterprise Value (EV)	10,961	11,192	11,522	12,909	12,520	10,753	9,639	9,376	8,506	8,593	6,785
Market Capitalization	7,316	7,628	8,050	9,454	9,193	7,394	6,516	6,265	5,464	5,489	4,045
Book Value per Share	$7.34	$7.20	$9.67	$8.72	$9.28	$8.50	$10.50	$11.50	$11.08	$10.57	$11.35
Tangible Book Value per Share	($34.26)	($32.49)	($31.09)	($31.40)	($31.31)	($32.68)	($29.92)	($29.82)	($30.75)	($30.65)	($28.53)
Total Capital	4,527	4,506	4,731	4,657	4,709	4,639	5,023	5,116	5,074	5,055	5,130
Total Debt	3,907	3,870	3,873	3,871	3,874	3,874	3,877	3,886	3,890	3,894	3,898
Total Long-Term Debt	3,884	3,847	3,850	3,849	3,852	3,852	3,855	3,863	3,867	3,870	3,874
Net Debt	3,645	3,564	3,472	3,455	3,327	3,359	2,936	2,929	2,866	2,933	2,579
Capital Expenditures (CapEx)	61	70	71	87	66	60	70	59	53	58	58
Debt-free, Cash-free Net Working Capital (DFCFNWC)	192	165	221	199	138	122	182	224	119	135	-49
Debt-free Net Working Capital (DFNWC)	454	471	622	615	685	637	1,123	1,181	1,143	1,096	1,270
Net Working Capital (NWC)	431	448	599	593	663	615	1,101	1,158	1,120	1,072	1,246
Net Nonoperating Expense (NNE)	51	30	62	51	53	95	45	23	79	40	-261
Net Nonoperating Obligations (NNO)	3,640	3,558	3,466	3,449	3,321	3,353	2,930	2,922	2,860	2,927	2,572
Total Depreciation and Amortization (D&A)	91	98	90	87	86	85	90	108	101	103	102
Debt-free, Cash-free Net Working Capital to Revenue	5.99%	5.18%	6.99%	6.47%	4.62%	4.20%	6.47%	8.20%	4.56%	5.37%	-2.03%
Debt-free Net Working Capital to Revenue	14.16%	14.77%	19.68%	20.00%	22.93%	21.95%	39.91%	43.24%	43.79%	43.63%	52.70%
Net Working Capital to Revenue	13.44%	14.05%	18.95%	19.28%	22.19%	21.19%	39.13%	42.40%	42.91%	42.68%	51.70%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.97	$1.22	$0.72	$0.92	$0.91	$0.73	$0.83	($0.01)	$0.24	$0.44	$3.47
Adjusted Weighted Average Basic Shares Outstanding	85M	89M	89M	90M	90M	91M	91M	91M	91M	95M	94M
Adjusted Diluted Earnings per Share	$0.94	$1.19	$0.71	$0.90	$0.88	$0.72	$0.81	($0.01)	$0.23	$0.49	$3.42
Adjusted Weighted Average Diluted Shares Outstanding	87M	91M	91M	92M	92M	93M	92M	91M	93M	95M	96M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	84.38M	84.47M	88.31M	88.72M	90.14M	89.83M	90.05M	91.36M	91.12M	91.00M	93.67M
Normalized Net Operating Profit after Tax (NOPAT)	148	153	154	159	140	127	140	101	85	112	97
Normalized NOPAT Margin	19.17%	19.20%	18.86%	19.40%	18.55%	16.45%	19.09%	13.79%	12.64%	16.46%	14.92%
Pre Tax Income Margin	13.57%	16.56%	9.91%	13.20%	13.23%	8.44%	12.86%	2.74%	3.88%	3.81%	3.70%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	2.52	2.89	2.08	2.44	2.33	1.83	2.01	1.26	1.35	1.36	1.35
NOPAT to Interest Expense	1.92	1.98	1.68	1.77	1.80	2.09	1.35	0.36	1.41	1.08	1.09
EBIT Less CapEx to Interest Expense	1.64	1.89	1.13	1.28	1.45	1.06	1.26	0.50	0.64	0.56	0.50
NOPAT Less CapEx to Interest Expense	1.04	0.98	0.73	0.61	0.92	1.32	0.59	-0.39	0.71	0.29	0.24
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	179.46%	137.50%	90.20%	107.37%	77.45%	107.22%	242.38%	65.27%	11.55%	11.96%	5.88%

Frequently Asked Questions About Light & Wonder's Financials

When does Light & Wonder's fiscal year end?

According to the most recent income statement we have on file, Light & Wonder's financial year ends in December. Their financial year 2024 ended on December 31, 2024.

How has Light & Wonder's net income changed over the last 9 years?

Light & Wonder's net income appears to be on an upward trend, with a most recent value of $336 million in 2024, rising from $0.00 in 2015. The previous period was $180 million in 2023. View Light & Wonder's forecast to see where analysts expect Light & Wonder to go next.

What is Light & Wonder's operating income?

Light & Wonder's total operating income in 2024 was $668 million, based on the following breakdown:

Total Gross Profit: $2.26 billion
Total Operating Expenses: $1.59 billion

How has Light & Wonder revenue changed over the last 9 years?

Over the last 9 years, Light & Wonder's total revenue changed from $0.00 in 2015 to $3.19 billion in 2024, a change of 318,800,000,000.0%.

How much debt does Light & Wonder have?

Light & Wonder's total liabilities were at $4.79 billion at the end of 2024, a 0.0% decrease from 2023, and a 48.1% decrease since 2015.

How much cash does Light & Wonder have?

In the past 9 years, Light & Wonder's cash and equivalents has ranged from $0.00 in 2016 to $928 million in 2020, and is currently $196 million as of their latest financial filing in 2024.

How has Light & Wonder's book value per share changed over the last 9 years?

Over the last 9 years, Light & Wonder's book value per share changed from -17.34 in 2015 to 7.20 in 2024, a change of -141.5%.

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This page (NASDAQ:LNW) was last updated on 5/27/2025 by MarketBeat.com Staff

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Light & Wonder (LNW) Financials

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Light & Wonder (LNW) Financials

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