Valuation, from the filing
| Public float | $6.34B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $82.16 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 23.0× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 1.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 25.9× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
23.0× earnings today, against a median of 21.3× across 5 years on record. In line with its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $6.34B | 23.0× | |
| 2024-06-30 | $7.16B | 21.3× | |
| 2023-06-30 | $4.86B | 29.8× | |
| 2022-06-30 | $3.95B | 1.1× | |
| 2021-06-30 | $7.35B | 19.8× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Services-Computer Integrated Systems Design filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Long-term debt / equity | 20.86x | 100th | |
| Operating margin | 20.6% | 88th | |
| Gross margin | 73.3% | 77th | |
| Net margin | 8.3% | 75th | |
| Effective tax rate | 24.4% | 73th | |
| Current ratio | 1.60x | 65th | |
| R&D / revenue | 7.6% | 37th | |
| Revenue YoY growth | 4.0% | 39th | |
| SBC / revenue | 3.7% | 44th |
Light & Wonder, Inc. (LNWO) reported revenue of $3.35B for the fiscal year ended 2026-06-30. This page shows 1 annual period of income statement, balance sheet and cash flow figures normalized from Light & Wonder, Inc.’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Services-Computer Integrated Systems Design.
Income
| Metric | 2026-06-30 |
|---|---|
| Revenue | $3.35B |
| Cost of revenue | $859.00M |
| Gross profit | $2.49B |
| Operating income | $665.00M |
| Net income | Unavailable |
| Research & development | $250.00M |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $349.00M |
| Income tax expense | $78.00M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $892.00M |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-06-30 |
|---|---|
| Cash & equivalents | $148.00M |
| Total assets | $6.36B |
| Current assets | $1.24B |
| Total liabilities | $6.06B |
| Current liabilities | $715.00M |
| Total equity incl. NCI | $302.00M |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | $193.00M |
| Accounts receivable | $640.00M |
| Goodwill | $3.36B |
| Long-term debt | $5.07B |
| Accounts payable | $199.00M |
Cash flow
| Metric | 2026-06-30 |
|---|---|
| Operating cash flow | $883.00M |
| Capital expenditures | Unavailable |
| Investing cash flow | -$327.00M |
| Financing cash flow | -$580.00M |
| Net change in cash | -$21.00M |
| Stock-based compensation | $127.00M |
| Common dividends paid | Unavailable |
| Common share repurchases | $773.00M |
| Depreciation & amortization | $441.00M |
Derived
| Metric | 2026-06-30 |
|---|---|
| Free cash flow | Unavailable |
| Gross margin | 74.4% |
| Operating margin | 19.9% |
| FCF margin | Unavailable |
| SBC / revenue | 3.8% |
| Current ratio | 1.73x |
| Revenue YoY growth | 4.8% |
| Net margin | Unavailable |
| R&D / revenue | 7.5% |
| CapEx / revenue | Unavailable |
| Long-term debt / equity | 16.78x |
| Effective tax rate | 22.3% |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open LNWO in the interactive workspace to inspect any figure back to its filing.
Source filings
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.