Stock fact sheet · data as of
Light & Wonder, Inc. (LNWO): fair value, margin of safety and Wheel Score
Consumer Cyclical · Gambling, Resorts & Casinos · United States · Blend
Is LNWO undervalued?
At 81.71 (close of 16 Oct 2026), LNWO trades 21% under the GLS average fair value of 103.62. 4 of the 8 models that produced a value land above the price. A discount of this size counts as a positive margin of safety in every GLS screen; whether it is enough depends on the rest of the picture - the health score, the moat and the option premium below.
The 8 models disagree widely: GLS Growth gives 3.21 while DCF gives 221.51. A spread that wide means the average is sensitive to which methods you trust; the model table below shows where each one lands, and the Quote page lets you switch any of them off.
The nightly engine files LNWO under Blend.
Nine valuation models for LNWO
Each model turns the latest filed numbers into a value per share; the GLS fair value is the simple average of the ones that produce a positive number. The last two rows are shown for reference and never enter the average. The Quote page lets you switch any model off and add your own margin of safety.
| Model | Value | vs price | What it measures |
|---|---|---|---|
| DCF | 221.51 | +171% | Present value of the projected free cash flows, discounted at the cost of capital |
| Graham Number | 17.53 | -79% | The most a defensive investor pays for the earnings and book value per share |
| Graham Growth | 165.99 | +103% | Graham's growth formula: EPS × (8.5 + 2 × growth), adjusted for bond yields |
| Lynch | 70.00 | -14% | EPS × the earnings growth rate (PEG of 1), growth capped at 25% |
| GLS Growth | 3.21 | -96% | EPS compounded ten years at the blended growth rate, discounted back at 15% a year |
| 10 Cap | 188.81 | +131% | Owner's earnings (operating cash flow less maintenance capex) capitalised at 10% |
| Payback Time | 122.99 | +51% | Eight years of compounded free cash flow: the price at which the business pays for itself |
| DDM | - | - | Dividend discount model: next year's dividend ÷ (10% − 3% growth); needs a dividend; no value tonight |
| EPV | 38.90 | -52% | Earnings power value: current EPS capitalised at 9% with no growth |
| Zombie (liquidation) | -64.04 | -178% | Current assets less all liabilities, per share: the balance-sheet floor. Not in the average |
| Wall St target | 106.14 | +30% | Analysts' average 12-month price target. Not in the average |
Quality and financial health
Financial health is average - LNWO passes 6 of the nine Piotroski tests, which passes the Sunday Scan's "6 or more" rule. The Financials tab on the Quote page shows which tests fail. The GLS Moat score is low at 3.8 out of 10, which says the ten-year record of revenue, earnings, margins and returns on capital has been inconsistent - growth and shocks rather than steady compounding.
Returns on capital are moderate - ROIC 5.0%, ROE 112.7%, ROA 4.3% - with debt at 21.38 times equity and a free-cash-flow yield of 8.8%. Debt of 21.38 times equity is on the high side for the sector and is worth checking against the cash flow before treating the stock as a long-term hold.
Light & Wonder, Inc. pays no dividend, so the DDM model does not apply and a covered-call holder earns only the premium and any price gain. Revenue comes mainly from Service 73%, Product 27% (quarter Q2 FY2026).
Institutional ownership scores 5/10, insider activity 1/10 and Congressional trading 5/10 on the GLS smart-money scales.
| Piotroski F-score | 6 / 9 | ROIC | 5.0% |
|---|---|---|---|
| GLS Moat | 3.8 / 10 | ROE | 112.7% |
| Debt / equity | 21.38 | ROA | 4.3% |
| Free-cash-flow yield | 8.8% | Payout ratio | 0% |
| Institutions | 5 / 10 | Insiders · Congress | 1 · 5 / 10 |
Wheel Score 39: No options
LNWO has no listed options in the nightly snapshot, so there is nothing to sell and the stock cannot be wheeled however good the business; the Wheel Score is capped at 39 and shown as "No options" (39 here). The valuation and quality numbers still apply to owning the shares outright.
Volume runs at 9k shares a day on a market cap of $6.3B, with a beta of 0.39 - a low beta, so day-to-day moves are smaller than the market's; the Stability part of the Wheel Score gives that 11 of 20.
| Part | Points | From | |
|---|---|---|---|
| Value | 21 / 25 | 21% margin of safety | |
| Health | 13 / 20 | Piotroski 6/9 | |
| Moat | 6 / 15 | moat 3.8/10 | |
| Premium | 0 / 20 | no option data | |
| Stability | 11 / 20 | 9k shares/day, $6.3B cap, beta 0.39 |
The Wheel Score ranks ~7,400 US stocks for selling cash-secured puts and covered calls; it is updated nightly and is not a recommendation. The walkthrough lesson shows how the score fits into a trade, start to finish.
Upcoming events
The next earnings report is due on 4 Nov 2026 (after the close), 19 days away; a 30-45-day put sold today would expire after it, which is worth weighing against the premium.
Earnings, dividend, IPO, split and economic calendars for the whole market, filterable to your watchlists.
Similar stocks in Gambling, Resorts & Casinos
The 12 companies below are the closest to Light & Wonder, Inc. by market cap within the Gambling, Resorts & Casinos industry, each with its own fact sheet; the Compare page puts up to eight of them side by side.
| Stock | Close | Fair value | MoS | Wheel | Mkt cap |
|---|---|---|---|---|---|
| CZR Caesars Entertainment, Inc. | 29.25 | 96.50 | +70% | 45Weak | $6.0B |
| CHDN Churchill Downs Incorporated | 82.15 | 109.00 | +25% | 85Prime | $5.7B |
| SGHC Super Group (SGHC) Limited | 11.12 | 13.44 | +17% | 79Good | $5.6B |
| MTN Vail Resorts, Inc. | 152.96 | 112.59 | -36% | 56Fair | $5.5B |
| MGM MGM Resorts International | 29.48 | 56.64 | +48% | 87Prime | $7.4B |
| WYNN Wynn Resorts, Limited | 73.73 | 169.18 | +56% | 84Prime | $7.6B |
| RSI Rush Street Interactive, Inc. | 18.49 | 15.97 | -16% | 61Fair | $5.2B |
| BYD Boyd Gaming Corporation | 70.97 | 385.85 | +82% | 85Prime | $5.2B |
| DKNG DraftKings Inc. | 19.31 | 63.10 | +69% | 45Weak | $9.6B |
| VAC Marriott Vacations Worldwide Corporation | 106.23 | 42.56 | -150% | 43Weak | $3.7B |
| FLUT Flutter Entertainment plc | 76.18 | 133.91 | +43% | 45Weak | $13.2B |
| RRR Red Rock Resorts, Inc. | 49.77 | 91.51 | +46% | 80Prime | $2.9B |
⚖ Compare LNWO with 7 of them All Consumer Cyclical stocks →
Screen the whole market the same way
A free GLS Equity account gets you nightly fair value and the Wheel Score on ~7,400 US stocks, a watchlist, the scanner preview and the Sunday Scan - the same eight-rule screen, emailed every week. Pro adds the full put and call scanners, unlimited watchlists with alerts and the trade journal.
Start free See the Sunday ScanQuestions about LNWO
Is LNWO undervalued right now?
By the GLS models, moderately: at 81.71 the stock trades 21% below the average fair value of 103.62 (data as of 16 Oct 2026).
What is the Wheel Score of LNWO and what does it mean?
LNWO has no listed options in our nightly snapshot, so it cannot be wheeled; its Wheel Score is capped at 39 and shown as "No options".
What is the GLS fair value for LNWO?
103.62 per share as of 16 Oct 2026 - the simple average of the 8 valuation models (out of nine: DCF, Graham Number, Graham Growth, Lynch, GLS Growth, 10 Cap, Payback Time, DDM and EPV) that produced a positive value. The models run every night on the latest filings; the Quote page lets you switch any of them off and add a margin of safety of your own.
When does Light & Wonder, Inc. report earnings next?
The next earnings report is due on 4 Nov 2026 (after the close), 19 days from the data date of 16 Oct 2026. The Calendars page lists every upcoming report with its time of day.
Does LNWO have listed options, and how liquid are they?
No. The nightly options snapshot found no listed contracts on LNWO, so the wheel strategy cannot be run on it and the Wheel Score is capped at 39.