Light And Wonder Inc's Competitiveness
A competitive positioning analysis and financial ratio benchmarking of Light And Wonder Inc (LNW) against its publicly traded competitors: sales growth, net income, profitability, valuation and market share, plus each peer's market capitalization, revenue, income and employees. Free below: the top 5 peers. Subscriber access adds the full competitor list and CSV downloads.
Key Findings: Light And Wonder Inc vs Its Competitors
- TTM: Trailing 12-month revenue of 3,512M vs 31M combined for its competitors (99.1% combined share).
- Trending: Latest-quarter revenue run-rate is accelerating (+12.9% annualized vs trailing 12 months), vs holding steady (+1.9%) for its tracked peer group.
- Growth: Light And Wonder Inc generated 22.5% revenue growth year over year in Q2 2026, vs 5.5% for its competitors combined.
- Profitability: Its 12.1% net margin compares with 12.6% for the peer group.
- Scale: Light And Wonder Inc ranks #22 of 166 companies by market capitalization in the Cloud Computing & Data Analytics industry, holding 1.0% of industry market cap.
- Peer revenue share: Light And Wonder Inc accounted for 99.2% of combined revenue among its tracked peer group, up from 99.1% a year earlier.
- Peer differentiation: Revenue per employee of $0.52M compares with $0.66M for the peer group (0.8x).
- Structure: Light And Wonder Inc operates in the following segments: Gaming Group, SciPlay, iGaming Business.
Every figure above is sourced and cited in detail further down this page (Market Structure, Profitability & Cost Structure, Productivity vs Peers).
LNW Sales vs. its Competitors, Q2 2026
Light And Wonder Inc reported revenue growth of 22.50 % year on year in Q2 2026, above its competitors' combined revenue growth of 5.45 %.
With a net margin of 12.11 %, Light And Wonder Inc reported lower profitability than its competitors (12.56 %).
Light And Wonder Inc generated 99.21 % of the combined sales of its peer group, up from 99.08 % a year earlier.
Light And Wonder Inc vs. its Competitors, Q2 2026
Revenue growth, year on year
Net income growth, year on year
Net margin
Revenue run-rate vs trailing 12 months
TTM net margin
TTM = trailing twelve months. Run-rate annualizes the latest quarter (×4) and compares it to TTM. In millions of $. High-Confidence Competitors are named as a competitor directly in Light And Wonder Inc reports; Similar-Size Competitors are the closest peers by market-cap rank within the same industry; Similar Growth & Profitability Competitors are the closest peers by combined revenue growth, operating margin and ROIC, all independent of the competitor list.
TTM revenue, latest-quarter run-rate and net income/margin benchmarked across Light And Wonder Inc and its 4 competitor groupings. Available under Commercial License.
| Entity | TTM Revenue | Rev Run-rate vs TTM |
|---|---|---|
| Light and Wonder Inc | $12,345M | +12.3% · Accelerating |
| Competitors combined | $12,345M | +12.3% · Accelerating |
| High-Confidence Competitors (7) | $12,345M | +12.3% · Accelerating |
| Similar-Size Competitors (9) | $12,345M | +12.3% · Accelerating |
| Similar Growth & Profitability (5) | $12,345M | +12.3% · Accelerating |
TTM revenue, run-rate and net margin benchmarking across Light And Wonder Inc's competitor groups requires a Commercial License.
For context: the Cloud Computing & Data Analytics industry grew revenue 8.1% year over year, combined, vs 22.5% for Light And Wonder Inc. Light And Wonder Inc's share of combined industry revenue moved from 0.62% to 0.70%, a gain of 0.08 percentage points.
Light And Wonder Inc's Competitor Quality Breadth
Group definitions: see Methodology: Performance Group Definitions.
| Entity | Profitable | Expanding | Above Industry Growth | Distressed |
|---|---|---|---|---|
| Light and Wonder Inc | Yes | Yes | Yes | No |
| Competitors combined (1) | ||||
| High-Confidence Competitors (12) | ||||
| Similar-Size Competitors (10) | ||||
| Similar Growth & Profitability (8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 100.00 % (8 of 8) | 0.00 % (0 of 8) |
Source: CSIMarket API, trailing 12 months. Altman Z-Score is not shown here: it is not populated in the underlying data for any company. Percentages are of companies in each group that report the relevant metric, not of the full group size.
LNW Stock Performance relative to its Competitors
LNW Stock Performance relative to High-Confidence Competitors
LNW Stock Performance relative to Similar-Size Competitors
LNW Stock Performance relative to Similar Growth & Profitability Competitors
Publicly Traded Peers of Light and Wonder Inc
Revenue and income for trailing 12 months, in millions of $, except employees| Company | Market Cap | Revenues |
|---|---|---|
 Light and Wonder Inc |
6,768.27 | 3,512.00 |
 Galaxy Gaming Inc |
42.34 | 31.16 |
| SUBTOTAL | 6,810.61 | 3,543.16 |
Sources: see Methodology: Peer & Competitor Identification, Sourcing.
Updated on:
Focus of this report: publicly traded companies. Ten additional tables on Light and Wonder Inc versus competitors, including market share analysis, are in the navigation menu under Competition. To download the tables, please subscribe.
Light And Wonder Inc's Competitors Named by the Company
Competitive relationships identified from Light And Wonder Inc reports and corroborating sources, each with a basis and confidence.| Competitor | Basis | Confidence |
|---|---|---|
| Playags Inc | Company report | 85% |
| Galaxy Gaming, Inc. | Company report | 85% |
| Accel Entertainment Inc | Company report | 85% |
| Interblock Gaming | Company report | 85% |
| Playstudios Inc | Company report | 85% |
| Konami | Company report | 85% |
| Masque Publishing, Inc. | Company report | 85% |
| Novomatic Group of Companies | Company report | 85% |
| Aristocrat | Company report | 85% |
| IGT | Company report | 85% |
| Konami Digital Entertainment, Inc. | Company report | 85% |
| Playtika Holding Corp | Company report | 85% |
| Neogames S a | Company report | 85% |
| Interblock | Company report | 85% |
| Aruze Gaming America, Inc. | Company report | 85% |
| Ainsworth Game Technology | Company report | 85% |
| Inspired Entertainment Inc. | Company report | 85% |
| Everi Games, Inc. | Company report | 85% |
| International Game Technology | Company report | 85% |
| Aristocrat Leisure Ltd. | Company report | 85% |
| The Aes Corporation | Company report | 85% |
| Athlon Acquisition Corp | Company report | 85% |
Company report basis, confidence, active dates and source counts for Light And Wonder Inc's named competitors require a Commercial License.
Methodology: see Methodology: Peer & Competitor Identification, Sourcing.
Light And Wonder Inc's Business Segment Mix vs Peers
Revenue by operating segment or division, as named and reported by each company. Segment names are the filer's own and are not standardized across companies. Do not assume a same-named or similarly-named segment is defined identically between two companies. Shares are of each company's own total revenue and are not required to sum to 100% (intersegment revenue, unallocated items).| Company | Largest Segment |
|---|---|
| Light and Wonder Inc | Gaming Group 55.85 % |
Source: operating segment revenue as reported in each company's reports (10-K/10-Q), via the CSIMarket API, leaf-level reportable segments only (parent roll-up segments are excluded where sub-segments are separately disclosed).
Light And Wonder Inc's Productivity vs Peers Comparison
Revenue and income per employee, trailing 12 months, in $; market cap in millions of $| Company | Market Cap | Revenue / Employee | Income / Employee |
|---|---|---|---|
| Light and Wonder Inc | 6,768 | 516,471 | 39,853 |
| Galaxy Gaming Inc | 42 | 663,008 | 104,661 |
| PEERS TOTAL | 42 | 663,008 | 104,661 |
Light And Wonder Inc's Geographic Revenue Exposure vs Peers
Revenue by country/region as reported in each company's most recent report. Disclosure granularity varies by filer (some report by country, others by broad region) and is shown as disclosed.| Company | Largest Market |
|---|---|
| Galaxy Gaming Inc | Americas 52.09 % |
Source: revenue geography as reported in each company's reports (10-K/10-Q), via the CSIMarket API. Percentages are of that company's own total consolidated revenue for its most recent reported period.
Light And Wonder Inc's Position in Industry Market Structure
Market-capitalization share and concentration across all 147 companies in Light And Wonder Inc's industry classification, broader than the peer set above. Market cap in millions of $.Light And Wonder Inc ranks #22 of 147 companies by market capitalization in its industry, holding 0.96 % of total industry market cap. The industry's Herfindahl-Hirschman Index (HHI) is 561, indicating a unconcentrated market structure (see Methodology: Market Structure & Concentration).
| Rank | Company | Market Cap | Industry Share |
|---|---|---|---|
| 1 | Automatic Data Processing Inc | 122,418 | 17.40 % |
| 2 | Infosys Limited | 50,430 | 7.17 % |
| 3 | Workday Inc | 49,715 | 7.07 % |
| 4 | Zscaler Inc | 35,960 | 5.11 % |
| 5 | Cognizant Technology Solutions Corporation | 1,234 | 5.2% |
| 6 | Verisign Inc | 1,234 | 5.2% |
| 7 | Verisk Analytics Inc | 1,234 | 5.2% |
| 8 | Samsara Inc | 1,234 | 5.2% |
| 9 | Wipro Limited | 1,234 | 5.2% |
| 10 | Toast Inc | 1,234 | 5.2% |
| 22 | Light and Wonder Inc | 6,768 | 0.96 % |
Market cap and industry share for the rest of Light And Wonder Inc's industry peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation) across CSIMarket's industry classification, market capitalization as of 2026-10-28.
Light And Wonder Inc's Same-Size Peers & Stock Performance
Peers chosen by closeness in market-cap rank within the same industry classification (not the named-competitor list above). Trailing 12-month total return, 3-month price momentum, beta and Sharpe ratio vs the broad U.S. market.| Rank | Company | Market Cap | TTM Return |
|---|---|---|---|
| 17 | Hinge Health Inc | 10,083 | 142.49 % |
| 18 | Qxo Inc | 9,714 | -28.28 % |
| 19 | Compass Inc | 8,457 | 28.79 % |
| 20 | Aurora Innovation Inc | 8,062 | -14.16 % |
| 21 | Epam Systems Inc | 1,234 | 12.3% |
| 22 | Light and Wonder Inc | 6,768 | - |
| 23 | Ringcentral Inc | 1,234 | 12.3% |
| 24 | Open Text Corp | 1,234 | 12.3% |
| 25 | Doximity Inc | 1,234 | 12.3% |
| 26 | Science applications International corporation | 1,234 | 12.3% |
| 27 | Bilibili Inc | 1,234 | 12.3% |
Market cap, return, momentum, beta and Sharpe ratio for the rest of Light And Wonder Inc's same-size peers requires a Commercial License.
Source: CSIMarket API (daily market-structure computation); returns and risk metrics as of 2026-11-04. Beta and Sharpe ratio are versus the broad U.S. equity market, not this industry.
Light And Wonder Inc's Profitability & Cost Structure
Trailing 12-month margins from SEC-filed financials. Operating margin is compared to the Cloud Computing & Data Analytics industry median; gross margin, EBITDA margin and capital intensity are compared to the live industry average (257 companies). See the full Cloud Computing & Data Analytics industry profitability benchmarks.| Metric | Company | Industry | Difference |
|---|---|---|---|
| Gross Margin | 75.54 % | 38.75 % (avg) | +36.8 pp |
| Operating Margin | 18.91 % | industry median | +18.9 pp |
| EBITDA Margin | 37.93 % | 1.44 % (avg) | +36.5 pp |
| Capital Intensity (Capex / Revenue) | 9.34 % | 5.85 % (avg) | +3.5 pp |
Source: CSIMarket API, trailing 12 months. SG&A and R&D as a share of revenue have limited coverage as this data is backfilled and appear only where reported. Higher capital intensity is not inherently negative; it reflects the industry's asset requirements.
Light And Wonder Inc's Valuation vs Competitive Position
Valuation multiples vs the Cloud Computing & Data Analytics industry average (257 companies, excluding loss-making/negative-equity outliers), alongside returns on capital for context on whether a premium or discount lines up with measurably stronger or weaker returns. See the full Cloud Computing & Data Analytics industry valuation benchmarks.| Metric | Company | Industry Average | Difference |
|---|---|---|---|
| P/E | 25.2x | 27.8x | -2.6x |
| EV / EBITDA | 9.6x | 14.1x | -4.6x |
| P/B | 16.7x | 3.9x | +12.9x |
| Return on Equity | 68.56 % | industry aggregate | 57.04 % |
| Return on Invested Capital | 9.02 % | -0.36 % (avg) | 9.38 % |
Source: CSIMarket API, trailing 12 months. A valuation premium or discount is not, by itself, a judgment of over- or under-valuation. Compare it against the return and growth context shown elsewhere on this page.
Light And Wonder Inc's Multi-Year Financial Trajectory
Fiscal-year revenue growth, operating margin, return on invested capital and P/E, as reported in company reports.| Metric | 2017 | 2018 | 2019 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue Growth | 6.94 % | 9.07 % | 1.09 % | -3.43 % | -7.92 % | 15.53 % | 9.86 % | 3.95 % |
| Operating Margin | 12.75 % | 7.90 % | 16.06 % | 4.03 % | 10.87 % | 17.85 % | 20.95 % | 20.61 % |
| Return on Invested Capital | 8.66 % | 5.97 % | 11.10 % | 2.26 % | 4.35 % | 8.00 % | 11.82 % | 11.17 % |
| P/E | - | - | - | - | 1.6x | 49.2x | 25.4x | 24.5x |
Source: CSIMarket API, fiscal-year figures. P/E is this company's own historical ratio at each fiscal year end and can swing sharply around an earnings trough: that is real, not a data error.
Light And Wonder Inc's Strategic Group Map
Light And Wonder Inc is shown in red; its closest peers by combined growth, margin and ROIC are labeled. See Methodology: Strategic Group Map for how this chart is built.
Light And Wonder Inc's trailing-12-month revenue growth of 9.9% and operating margin of 18.9% compares with an average of 10.7% growth and 17.1% margin across its 8 closest peers by combined growth, margin and ROIC -- Light And Wonder Inc sits below that peer average on growth and above it on margin.
Source: CSIMarket API, trailing 12 months. Extreme outlier values (from near-zero-revenue companies) are excluded from the plotted cloud but never from the highlighted company or its labeled peers.
Light And Wonder Inc's BCG Growth-Share Matrix
See Methodology: BCG Growth-Share Matrix for how relative share and growth are calculated and thresholded.
Light And Wonder Inc falls in the Dog quadrant: relative market share of 0.06x vs its largest competitor, in an industry growing revenue 4.0% (median, trailing 12 months).
Source: CSIMarket API (market-cap share and industry revenue growth). The 10% growth and 1.0x share lines are standard textbook thresholds, not derived from this industry's own distribution.
Light And Wonder Inc's Competitive Forces (Porter's Five Forces)
Only the forces this data can support honestly are shown; the other three are marked as such rather than guessed.| Force | Assessment | Basis |
|---|---|---|
| Competitive Rivalry | High | Industry HHI of 561 (see Industry Market Structure & Concentration above) |
| Barriers to Entry | High (capital intensive) | Capital intensity (capex / revenue) of 9.34 % vs industry average 5.85 % (see Profitability & Cost Structure above) |
Note: see Methodology: Porter's Five Forces. Supplier power and buyer power are covered on Light And Wonder Inc's dedicated Suppliers and Customers pages, not here.
Light And Wonder Inc's Industry Attractiveness & Competitive Strength
See Methodology: GE/McKinsey Matrix for how the two axes are built.
Light And Wonder Inc falls in the Low attractiveness / Medium strength cell: Harvest.
Source: CSIMarket API, trailing 12 months. Each axis score is a simple 1(low)/2(medium)/3(high) average across its three inputs -- a transparent, disclosed simplification, not a validated academic scoring model.
Light And Wonder Inc's SWOT
Every point below is a fixed rule applied to a metric already shown elsewhere on this page (Market Structure, Profitability, Valuation, Run-Rate, Stock Performance, Quality Breadth) not an independent strategic assessment. A blank quadrant means no rule was met, not that none apply.Strengths
- Operating margin 18.9 points above the industry median.
- Return on equity 57.0 points above the industry aggregate.
- Latest-quarter revenue run-rate is accelerating (+12.9% annualized vs trailing 12 months).
Weaknesses
- Low relative market share vs the industry leader (0.06x).
Opportunities
- Trades at a lower P/E than the industry average (25.2x vs 27.8x) despite a higher return on invested capital -- a possible re-rating opportunity.
Threats
- High capital intensity requires continuous reinvestment just to keep pace with the industry.
Methodology: see Methodology: SWOT Analysis.
Light And Wonder Inc's Financial Strength vs Peers Comparison
Quick ratio, working capital, debt to equity and asset turnover, trailing 12 months| Company | Quick Ratio | Working Capital | Debt / Equity |
|---|---|---|---|
| Light and Wonder Inc | 0.38 | 1.79 | 16.13 |
| Galaxy Gaming Inc | 0.57 | 1.43 | - |
Quick ratio = cash / current liabilities; working capital ratio = current assets / current liabilities; asset turnover = revenue / total assets. Peers in the Blank Checks industry are excluded.
Light And Wonder Inc's Revenue and Income Growth vs Peers
Quarterly revenue and net income growth, year over year and quarter over quarter| Company | Period | Revenue Y/Y | Income Y/Y |
|---|---|---|---|
| Light and Wonder Inc | Q2 2026 | +22.5 % | +26.3 % |
| Galaxy Gaming Inc | Q2 2026 | +5.4 % | +4.9 % |
| PEERS TOTAL | +22.3 % | +26.1 % |
Growth is shown only where both periods are positive. Peers in the Blank Checks industry are excluded.
Light And Wonder Inc's Peers' Costs of Sales and Capital Expenditures
Context for revenue growth: peer costs and capex, year over year and quarter over quarter| Company | Period | Costs Y/Y | Capex Y/Y |
|---|---|---|---|
| Light and Wonder Inc | Q2 2026 | -4.1 % | +6.4 % |
| Galaxy Gaming Inc | Q2 2026 | -56.4 % | +13.5 % |
Light And Wonder Inc's Returns and Turnover vs Peers
ROA, ROI and ROE (trailing 12 months), receivables and inventory turnover| Company | ROA | ROI | ROE |
|---|---|---|---|
| Light and Wonder Inc | 4.22% | 3.89% | 68.56% |
| Galaxy Gaming Inc | 18.23% | 24.48% | - |
ROA = net income / total assets; ROI = net income / investments; ROE = net income / equity; turnover ratios use trailing 12 month revenue (receivables) and cost of sales (inventory).
Light And Wonder Inc's Valuation vs Peers
P/E, price to sales, PEG, price to cash flow and price to book| Company | P/E | Price / Sales |
|---|---|---|
| Light and Wonder Inc | 25.74 | 1.93 |
| Galaxy Gaming Inc | 8.53 | 1.36 |
| PEERS AVERAGE | 24.68 | 1.92 |
P/E = price / diluted EPS (trailing 12 months); PEG = P/E divided by EPS growth; the average row divides the peers' combined market cap by their combined income, sales, cash flow and equity.