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CDROCodere Online Luxembourg, S.A.
$10.20$465M
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CDRO logoCodere Online Luxembourg, S.A.(CDRO)Earnings, Financials & Key Ratios

CDRO•NASDAQ
286.9× P/E·Price updated Jun 17, 2026
SectorConsumer CyclicalIndustryCasinos & GamingSub-IndustryOnline Sports Betting and iCasino
AboutCodere Online Luxembourg, S.A. operates as an online casino gaming and sports betting company. The company also offers online casino wagering products and services. It primarily operates in Spain, Italy, Mexico, Colombia, Panama, and Argentina. The company is based in Luxembourg, Luxembourg.Show more
  • Revenue$210M+4.8%
  • EBITDA$6M+35.3%
  • Net Income$1M-66.9%
  • EPS (Diluted)0.03-62.5%
  • Gross Margin96.04%-0.1%
  • EBITDA Margin3.03%+29.0%
  • Operating Margin2.73%+26.4%
  • Net Margin0.61%-68.5%
  • ROE4.88%-71.6%

CDRO Key Insights

Codere Online Luxembourg, S.A. (CDRO) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 82 (top 18%)
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 24.4%
  • ✓Trading near 52-week high
  • ✓Efficient asset utilization: 2.6x turnover

✗Weaknesses

  • ✗Weak 3Y average ROE of 3.8%
  • ✗Expensive at 13.8x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

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CDRO Price & Volume

Codere Online Luxembourg, S.A. (CDRO) stock price & volume — 10-year historical chart

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CDRO Growth Metrics

Codere Online Luxembourg, S.A. (CDRO) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years24.45%
3 Years22.04%
TTM33.46%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM124.17%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM122.43%

Return on Capital

10 Years-490.14%
5 Years-78.89%
3 Years-8.5%
Last Year18.77%

CDRO Recent Earnings

Codere Online Luxembourg, S.A. (CDRO) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (55%)●Beat Revenue 8/12 qtrs (73%)
Q2 2026Latest
May 7, 2026
Metric
Actual
Est
EPS
$0.15+225.0%
$0.05
Rev
$74M+13.4%
$66M
Q1 2026
Feb 26, 2026
Metric
Actual
Est
EPS
$0.04-53.8%
$0.08
Rev
$71M+4.4%
$68M
Q4 2025
Nov 17, 2025
Metric
Actual
Est
EPS
$0.04-45.5%
$0.06
Rev
$61M-7.6%
$66M
Q2 2025
May 16, 2025
Metric
Actual
Est
EPS
$0.02-208.2%
$0.02
Rev
$62M+15.1%
$54M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 7, 2026
$0.15vs $0.05+225.0%
$74Mvs $66M+13.4%
Q1 2026Feb 26, 2026
$0.04vs $0.08-53.8%
$71Mvs $68M+4.4%
Q4 2025Nov 17, 2025
$0.04vs $0.06-45.5%
$61Mvs $66M-7.6%
Q2 2025May 16, 2025
$0.02vs $0.02-208.2%
$62Mvs $54M+15.1%
Based on last 12 quarters of dataView full earnings history →

CDRO Peer Comparison

Codere Online Luxembourg, S.A. (CDRO) competitors in Online Sports Betting and iCasino — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
Institutional Holdings
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
DKNG logoDKNGDraftKings Inc.Direct Competitor13.05B26.32-3249.3826.99%0.93%7.88%3.06
FLUT logoFLUTFlutter Entertainment plcDirect Competitor17.68B101.65-58.7616.62%-2.68%-4.36%1.38
RSI logoRSIRush Street Interactive, Inc.Direct Competitor3.02B28.2820222.76%2.98%12.91%0.06
GENI logoGENIGenius Sports LimitedDirect Competitor1.6B6.20-14.0931.04%-22.27%-22.2%0.04
MGM logoMGMMGM Resorts InternationalProduct Competitor12.01B46.9461.761.72%1.03%5.3%17.14
CZR logoCZRCaesars Entertainment, Inc.Product Competitor5.95B29.22-12.072.14%-4.19%-12.62%7.15
PENN logoPENNPENN Entertainment, Inc.Product Competitor2.84B21.23-3.645.82%-12.11%-34.66%4.58
BYD logoBYDBoyd Gaming CorporationProduct Competitor6.32B83.883.724.12%45.02%91.81%1.25

Compare CDRO vs Peers

Codere Online Luxembourg, S.A. (CDRO) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs DKNG

Most directly comparable listed peer for CDRO.

Scale Benchmark

vs NTES

Larger-name benchmark to compare CDRO against a more recognizable public peer.

Peer Set

Compare Top 5

vs DKNG, FLUT, RSI, GENI

CDRO Income Statement

Codere Online Luxembourg, S.A. (CDRO) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue
61.58M70.5M80.25M115.75M161.65M200.7M210.41M200.7M
Revenue Growth %
-14.47%13.84%44.23%39.66%24.16%4.83%33.46%
Cost of Goods Sold
32.52M5.16M7.08M4.84M6.28M7.73M8.32M18.78M
COGS % of Revenue
52.81%7.32%8.82%4.18%3.88%3.85%3.96%-
Gross Profit
29.06M▲ 0%
65.34M▲ 124.8%
73.17M▲ 12.0%
110.9M▲ 51.6%
155.37M▲ 40.1%
192.97M▲ 24.2%
202.08M▲ 4.7%
181.92M▲ 0%
Gross Margin %
47.19%92.68%91.18%95.82%96.12%96.15%96.04%90.64%
Gross Profit Growth %
-124.83%11.99%51.56%40.09%24.2%4.72%-
Operating Expenses
77.46M79.59M144.2M166.78M170.12M188.64M196.34M177.59M
OpEx % of Revenue
125.78%112.9%179.68%144.09%105.24%93.99%93.32%-
Selling, General & Admin
66.34M69.43M91.8M153.63M152.29M167.33M173.24M85.59M
SG&A % of Revenue
107.72%98.49%114.38%132.73%94.21%83.37%82.34%-
Research & Development
00000000
R&D % of Revenue
--------
Other Operating Expenses
11.12M10.15M52.41M13.14M17.83M21.31M23.1M4M
Operating Income
-15.88M▲ 0%
-14.25M▲ 10.3%
-71.03M▼ 398.5%
-55.88M▲ 21.3%
-14.75M▲ 73.6%
4.33M▲ 129.4%
5.74M▲ 32.5%
4.33M▲ 0%
Operating Margin %
-25.78%-20.21%-88.51%-48.27%-9.13%2.16%2.73%2.16%
Operating Income Growth %
-10.25%-398.48%21.33%73.59%129.35%32.49%-
EBITDA
-14.69M-13.38M-70.31M-55.32M-14.64M4.72M6.38M4.47M
EBITDA Margin %
-23.85%-18.98%-87.61%-47.79%-9.06%2.35%3.03%2.23%
EBITDA Growth %
-8.9%-425.44%21.32%73.54%132.23%35.26%116.05%
D&A (Non-Cash Add-back)
1.19M868.34K721K556K114K388K645K136K
EBIT
-15.88M-14.25M-25.63M-30.77M-14.75M4.33M5.74M4.33M
Net Interest Income
-269K-520K3.98M12.46M1.81M603K342K498K
Interest Income
004.54M25.1M1.81M603K342K498K
Interest Expense
269K520K561K12.64M0000
Other Income/Expense
-269K-520K3.98M12.46M5.83M1.04M-2.43M1.04M
Pretax Income
-16.15M▲ 0%
-14.77M▲ 8.5%
-67.05M▼ 354.0%
-43.41M▲ 35.2%
-8.93M▲ 79.4%
5.37M▲ 160.2%
3.31M▼ 38.3%
5.37M▲ 0%
Pretax Margin %
-26.22%-20.95%-83.54%-37.51%-5.52%2.68%1.57%2.68%
Income Tax
-53K1.51M966K2.97M-6.51M1.46M2.02M1.46M
Effective Tax Rate %
0.33%-10.22%-1.44%-6.84%72.95%27.22%60.9%27.22%
Net Income
-16.09M▲ 0%
-16.28M▼ 1.2%
-68.01M▼ 317.8%
-46.38M▲ 31.8%
-2.42M▲ 94.8%
3.91M▲ 261.7%
1.29M▼ 66.9%
3.91M▲ 0%
Net Margin %
-26.13%-23.09%-84.75%-40.07%-1.5%1.95%0.61%1.95%
Net Income Growth %
--1.16%-317.8%31.8%94.79%261.69%-66.94%124.17%
Net Income (Continuing)
-16.09M-16.28M-68.01M-46.38M-2.42M3.91M1.29M3.91M
Discontinued Operations
00000000
Minority Interest
96K92K146K145K147K149K152K149K
EPS (Diluted)
-268.22▲ 0%
-1.84▲ 99.3%
-1.51▲ 17.9%
-1.03▲ 31.8%
-0.05▲ 94.8%
0.08▲ 249.8%
0.03▼ 62.5%
0.08▲ 0%
EPS Growth %
-99.31%17.93%31.79%94.82%249.81%-62.5%122.43%
EPS (Basic)
-268.27-1.84-1.51-1.03-0.050.090.03-
Diluted Shares Outstanding
60K8.87M45.19M45.12M45.27M46.07M45.89M46.67M
Basic Shares Outstanding
59.99K8.85M45.19M45.03M45.27M45.48M45.5M49.05M
Dividend Payout Ratio
--------

CDRO Balance Sheet

Codere Online Luxembourg, S.A. (CDRO) balance sheet — assets, liabilities & shareholders' equity

MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets
42.12M17.3M104.67M68.33M65.28M62.92M67.48M62.92M
Cash & Short-Term Investments
12.39M15.66M98.81M60.58M51.68M53.8M59.64M53.8M
Cash Only
8.02M10.9M94.91M53.81M41.28M40.31M49.98M40.31M
Short-Term Investments
4.37M4.76M3.9M6.78M10.4M13.49M9.66M13.49M
Accounts Receivable
29.5M835K5.12M4.27M13.19M6.92M6.33M6.92M
Days Sales Outstanding
174.854.3223.313.4729.7812.5910.994.98
Inventory
-4.37M0000000
Days Inventory Outstanding
--------
Other Current Assets
4.37M557K02.79M0000
Total Non-Current Assets
2.1M1.24M606K983K8.52M11.62M13.38M11.62M
Property, Plant & Equipment
92K116K133K200K331K2.41M2.44M2.41M
Fixed Asset Turnover
669.38x607.73x603.41x578.74x488.36x83.25x86.30x120.52x
Goodwill
00000000
Intangible Assets
2.01M1.13M469K10K10K000
Long-Term Investments
004K2K0000
Other Non-Current Assets
00-602K00-1K0-1K
Total Assets
44.23M▲ 0%
18.55M▼ 58.1%
105.28M▲ 467.6%
69.31M▼ 34.2%
73.8M▲ 6.5%
74.54M▲ 1.0%
80.86M▲ 8.5%
74.54M▲ 0%
Asset Turnover
1.39x3.80x0.76x1.67x2.19x2.69x2.60x2.74x
Asset Growth %
--58.06%467.58%-34.16%6.48%1%8.48%21.55%
Total Current Liabilities
54.12M37.03M31.61M42.75M52.1M44.96M49.28M44.96M
Accounts Payable
18.52M13.02M19.69M23.79M31.81M24.55M22.41M24.55M
Days Payables Outstanding
207.83921.311.01K1.79K1.85K1.16K982.67582.14
Short-Term Debt
30.24M17.78M2.98M4.24M5.11M3.37M1.81M3.37M
Deferred Revenue (Current)
457K1.85M2.43M00000
Other Current Liabilities
4.58M2.54M2.54M7.09M7.59M8.71M14.11M8.71M
Current Ratio
0.78x0.47x3.31x1.60x1.25x1.40x1.37x1.40x
Quick Ratio
0.86x0.47x3.31x1.60x1.25x1.40x1.37x1.40x
Cash Conversion Cycle
--------577.16
Total Non-Current Liabilities
21.44M21.44M5.51M2.01M408K5.36M2.88M5.36M
Long-Term Debt
21.44M21.44M0710K0000
Capital Lease Obligations
000001.64M1.61M3.28M
Deferred Tax Liabilities
0000001.26M0
Other Non-Current Liabilities
005.51M1.3M408K3.72M03.72M
Total Liabilities
75.56M58.47M37.12M44.76M52.51M50.32M52.16M50.32M
Total Debt
51.68M39.23M2.98M4.95M5.11M5.37M3.93M5.37M
Net Debt
43.66M28.33M-91.92M-48.85M-36.17M-34.94M-46.06M-34.94M
Debt / Equity
--0.04x0.20x0.24x0.22x0.14x0.22x
Debt / EBITDA
-----1.14x0.62x1.20x
Net Debt / EBITDA
------7.40x-7.22x-7.82x
Interest Coverage
-59.02x-27.40x-45.68x-2.43x----
Total Equity
-31.33M▲ 0%
-39.92M▼ 27.4%
68.15M▲ 270.7%
24.55M▼ 64.0%
21.29M▼ 13.3%
24.22M▲ 13.8%
28.7M▲ 18.5%
24.22M▲ 0%
Equity Growth %
--27.42%270.71%-63.98%-13.28%13.78%18.49%-12.03%
Book Value per Share
-522.22-4.501.510.540.470.530.630.52
Total Shareholders' Equity
-31.43M-40.02M68.01M24.4M21.14M24.07M28.55M24.07M
Common Stock
60K60K45.12M45.12M45.3M45.49M45.64M45.49M
Retained Earnings
-17.7M-41.03M-102.04M-148.42M-150.84M-146.93M-145.64M-146.93M
Treasury Stock
00000000
Accumulated OCI
-13.79M949K18M20.78M19.76M18.59M21.62M18.59M
Minority Interest
96K92K146K145K147K149K152K149K

CDRO Cash Flow Statement

Codere Online Luxembourg, S.A. (CDRO) cash flow — operating, investing & free cash flow history

MetricDec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations
-1.24M3.43M-5.19M-42.36M-11.58M3.94M16.51M3.94M
Operating CF Margin %
-2.02%4.86%-6.47%-36.59%-7.16%1.96%7.85%-
Operating CF Growth %
-375.93%-251.5%-715.81%72.66%134.05%318.67%-6056.31%
Net Income
-16.15M-14.77M-67.05M-43.41M-8.93M5.37M3.31M3.91M
Depreciation & Amortization
1.19M931K721K556K114K146K121K388K
Stock-Based Compensation
00000000
Deferred Taxes
000-61K0000
Other Non-Cash Items
155K-277K37.01M566.93K-4.8M-1.03M6.43M-2.49M
Working Capital Changes
13.55M17.54M24.12M-3.94K2.03M-541K6.65M2.14M
Change in Receivables
-3.78M3.68M10.32M-3.94M-9.27M2.14M5.28M2.14M
Change in Inventory
3.77M-3.42M000000
Change in Payables
17.34M13.87M13.8M14.47M11.3M-2.68M1.36M0
Cash from Investing
-275K-72K-83K-164K-245K-256K-85K-256K
Capital Expenditures
-75K-55K-80K-164K-245K-256K-85K-256K
CapEx % of Revenue
0.12%0.08%0.1%0.14%0.15%0.13%0.04%0.13%
Acquisitions
00000000
Investments
--------
Other Investing
00000000
Cash from Financing
6.81M254K89.33M01.33M-2.04M-4.58M-2.04M
Debt Issued (Net)
6.81M254K441K01.33M-1.94M-2.03M0
Equity Issued (Net)
000000-2.36M-193K
Dividends Paid
00000000
Share Repurchases
000000-2.36M-193K
Other Financing
0088.89M00-105K-188K-1.85M
Net Change in Cash
5.39M▲ 0%
2.88M▼ 46.5%
84.01M▲ 2813.9%
-41.1M▼ 148.9%
-12.53M▲ 69.5%
-971K▲ 92.3%
9.68M▲ 1096.5%
0▲ 0%
Free Cash Flow
-1.32M▲ 0%
3.8M▲ 388.6%
-5.27M▼ 238.7%
-42.52M▼ 706.5%
-11.82M▲ 72.2%
3.69M▲ 131.2%
16.42M▲ 345.4%
3.69M▲ 0%
FCF Margin %
-2.14%5.39%-6.57%-36.74%-7.32%1.84%7.81%1.84%
FCF Growth %
-388.61%-238.7%-706.54%72.19%131.18%345.43%217.78%
FCF per Share
-21.950.43-0.12-0.94-0.260.080.360.08
FCF Conversion (FCF/Net Income)
0.08x-0.21x0.08x0.91x4.79x1.01x12.78x0.94x
Interest Paid
0000000105K
Taxes Paid
00000000

CDRO Key Ratios

Codere Online Luxembourg, S.A. (CDRO) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric202020212022202320242025TTM
Return on Equity (ROE)
--481.87%-100.07%-10.55%17.18%4.88%18.11%
Return on Invested Capital (ROIC)
-2939.96%------24.01%
Gross Margin
92.68%91.18%95.82%96.12%96.15%96.04%90.64%
Net Margin
-23.09%-84.75%-40.07%-1.5%1.95%0.61%1.95%
Debt / Equity
-0.04x0.20x0.24x0.22x0.14x0.22x
Interest Coverage
-27.40x-45.68x-2.43x----
FCF Conversion
-0.21x0.08x0.91x4.79x1.01x12.78x0.94x
Revenue Growth
14.47%13.84%44.23%39.66%24.16%4.83%33.46%
Related:CDRO Dividend History·CDRO Revenue History·CDRO Price History·CDRO P/E History·CDRO Financial Ratios·CDRO Institutional Holders

CDRO Frequently Asked Questions

Codere Online Luxembourg, S.A. (CDRO) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Codere Online Luxembourg, S.A. (CDRO) reported $200.7M in revenue for fiscal year 2025. This represents a 226% increase from $61.6M in 2019.

Codere Online Luxembourg, S.A. (CDRO) grew revenue by 4.8% over the past year. Growth has been modest.

Yes, Codere Online Luxembourg, S.A. (CDRO) is profitable, generating $3.9M in net income for fiscal year 2025 (0.6% net margin).

Dividend & Returns

Codere Online Luxembourg, S.A. (CDRO) has a return on equity (ROE) of 4.9%. This is below average, suggesting room for improvement.

Codere Online Luxembourg, S.A. (CDRO) generated $3.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in CDRO back in 2019?

Total return calculator · dividends reinvested · 7+ years of data

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How much would $100/month in CDRO be worth today?

Dollar cost averaging calculator · DCA vs lump sum

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