Light & Wonder, Inc. (LNW) P/E Ratio History
UndervaluedTrading at 26.6x vs 5Y avg 43.0x · 70th percentile · Below historical baseline · Data 1992–2025
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P/E Ratio Analysis
As of June 22, 2026, Light & Wonder, Inc. (LNW) trades at a price-to-earnings ratio of 26.6x, with a stock price of $97.97 and trailing twelve-month earnings per share of $4.69.
The current P/E is 38% below its 5-year average of 43.0x. Over the past five years, LNW's P/E has ranged from a low of 1.1x to a high of 438.5x, placing the current valuation at the 70th percentile of its historical range.
Compared to the Consumer Cyclical sector median P/E of 21.2x, LNW trades at a 26% premium to its sector peers. The sector includes 307 companies with P/E ratios ranging from 0.1x to 184.9x.
Relative to the broader market, LNW trades roughly in line with the S&P 500 median P/E of 24.4x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our LNW DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
LNW Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
LNW P/E vs Peers
Gaming Equipment, Content and Services peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $1B | 21.6 | -Best | +46% | |
| $3B | 207.8 | -Best | +419%Best | |
| $12B | 61.6 | -Best | -68% | |
| $11B | 33.6 | -Best | -28% | |
| $6B | 3.8Lowest | -Best | +264% | |
| $4B | 19.7 | -Best | +23% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
LNW Historical P/E Data (1992–2025)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2025 Q3 | - | $83.94 | $4.59 | 18.3x | -53% |
| FY2025 Q2 | Jun 30 2025 | $96.26 | $4.33 | 22.2x | -43% |
| FY2025 Q1 | Mar 31 2025 | $86.61 | $4.11 | 21.1x | -46% |
| FY2024 Q4 | - | $86.38 | $4.06 | 21.3x | -45% |
| FY2024 Q3 | Sep 30 2024 | $90.73 | $3.59 | 25.3x | -35% |
| FY2024 Q2 | Jun 30 2024 | $104.88 | $3.32 | 31.6x | -18% |
| FY2024 Q1 | Mar 31 2024 | $102.09 | $2.42 | 42.2x | +9% |
| FY2023 Q4 | Dec 31 2023 | $82.11 | $1.76 | 46.7x | +21% |
| FY2023 Q3 | Sep 30 2023 | $71.33 | $1.35 | 52.9x | +37% |
| FY2023 Q2 | Jun 30 2023 | $68.76 | $3.96 | 17.4x | -55% |
| FY2023 Q1 | Mar 31 2023 | $60.05 | $38.58 | 1.6x | -96% |
| FY2022 Q4 | Dec 31 2022 | $58.60 | $38.62 | 1.5x | -96% |
| FY2022 Q3 | Sep 30 2022 | $42.88 | $39.25 | 1.1x | -97% |
| FY2022 Q2 | - | $46.99 | $37.67 | 1.2x | -97% |
| FY2022 Q1 | - | $58.75 | $4.19 | 14.0x | -64% |
| FY2021 Q4 | Dec 31 2021 | $66.83 | $3.76 | 17.8x | -54% |
| FY2021 Q3 | - | $83.07 | $1.86 | 44.7x | +15% |
| FY2019 Q3 | Sep 30 2019 | $20.35 | $1.27 | 16.0x | -59% |
| FY2008 Q4 | Dec 31 2008 | $17.54 | $0.04 | 438.5x | +1033% |
| FY2008 Q3 | - | $23.02 | $0.92 | 25.0x | -35% |
| FY2008 Q2 | Jun 30 2008 | $29.62 | $0.62 | 47.9x | +24% |
| FY2008 Q1 | Mar 31 2008 | $21.11 | $0.63 | 33.6x | -13% |
| FY2007 Q4 | Dec 31 2007 | $33.25 | $0.68 | 49.0x | +27% |
| FY2007 Q3 | Sep 30 2007 | $37.60 | $0.59 | 63.5x | +64% |
| FY2007 Q2 | Jun 30 2007 | $34.95 | $0.74 | 47.0x | +22% |
| FY2007 Q1 | Mar 31 2007 | $32.83 | $0.72 | 45.4x | +17% |
| FY2006 Q4 | Dec 31 2006 | $30.23 | $0.70 | 43.0x | +11% |
| FY2006 Q3 | Sep 30 2006 | $31.80 | $0.73 | 43.6x | +13% |
| FY2006 Q2 | Jun 30 2006 | $35.62 | $0.82 | 43.4x | +12% |
| FY2006 Q1 | Mar 31 2006 | $35.13 | $0.83 | 42.3x | +9% |
| FY2005 Q4 | Dec 31 2005 | $27.28 | $0.82 | 33.3x | -14% |
| FY2005 Q3 | Sep 30 2005 | $31.00 | $0.76 | 41.0x | +6% |
| FY2005 Q2 | - | $26.93 | $0.79 | 34.2x | -12% |
| FY2005 Q1 | - | $22.85 | $0.73 | 31.4x | -19% |
| FY2004 Q4 | Dec 31 2004 | $23.84 | $0.72 | 33.2x | -14% |
| FY2004 Q3 | - | $19.10 | $0.83 | 23.0x | -41% |
| FY2004 Q2 | Jun 30 2004 | $19.14 | $0.74 | 25.9x | -33% |
| FY2004 Q1 | Mar 31 2004 | $18.72 | $0.67 | 27.9x | -28% |
| FY2003 Q4 | Dec 31 2003 | $16.97 | $0.58 | 29.3x | -24% |
| FY2003 Q3 | - | $11.40 | $0.90 | 12.7x | -67% |
| FY2003 Q2 | Jun 30 2003 | $9.35 | $0.67 | 13.9x | -64% |
| FY2003 Q1 | Mar 31 2003 | $5.40 | $0.65 | 8.3x | -79% |
| FY2002 Q4 | - | $7.26 | $0.62 | 11.7x | -70% |
| FY2002 Q3 | Sep 30 2002 | $6.70 | $0.12 | 55.8x | +44% |
| FY2002 Q2 | Jun 30 2002 | $7.94 | $0.23 | 34.4x | -11% |
| FY2002 Q1 | Mar 31 2002 | $8.37 | $0.15 | 54.2x | +40% |
| FY2000 Q2 | Jul 31 2000 | $4.00 | $0.22 | 18.2x | -53% |
| FY2000 Q1 | Apr 30 2000 | $3.44 | $0.23 | 14.9x | -61% |
| FY1999 Q4 | Jan 31 2000 | $3.56 | $0.19 | 18.8x | -52% |
| FY1999 Q3 | Oct 31 1999 | $2.56 | $0.11 | 23.3x | -40% |
| FY1994 Q2 | Jul 31 1994 | $14.75 | $0.45 | 32.8x | -15% |
| FY1994 Q1 | Apr 30 1994 | $18.38 | $0.36 | 51.0x | +32% |
| FY1993 Q4 | Jan 31 1994 | $21.38 | $0.35 | 61.1x | +58% |
| FY1993 Q3 | Oct 31 1993 | $26.50 | $0.32 | 82.8x | +114% |
| FY1993 Q2 | Jul 31 1993 | $16.88 | $0.24 | 68.9x | +78% |
| FY1993 Q1 | Apr 30 1993 | $11.00 | $0.23 | 48.9x | +26% |
| FY1992 Q4 | Jan 31 1993 | $7.88 | $0.35 | 22.2x | -43% |
| FY1992 Q3 | Oct 31 1992 | $4.08 | $0.32 | 13.0x | -67% |
Average P/E for displayed period: 38.7x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
34+ years return with dividends reinvested.
DCA Calculator
See how regular investing compounds over time.
Peer Comparison
Compare growth, multiples, and margins vs sector.
LNW — Frequently Asked Questions
Quick answers to the most common questions about buying LNW stock.
What is LNW's P/E ratio?
Light & Wonder, Inc. (LNW) trailing twelve-month P/E ratio is 26.6x, based on TTM diluted EPS of $4.69. The 5-year average P/E is 43.0x and the historical range spans 1.1x to 438.5x.
Is LNW stock overvalued or undervalued?
LNW trades at 26.6x P/E, below its 5-year average of 43.0x. At the 70th percentile of its historical range (1.1x–438.5x), the stock is priced at a discount to its own history.
Is LNW stock expensive?
No, LNW is not expensive on a historical basis. The current P/E of 26.6x is below the 5-year average of 43.0x and sits at the 70th percentile of its valuation range.
What is LNW's historical P/E range?
Over the past 5 years, LNW's P/E ratio has ranged from 1.1x to 438.5x, with a median of 21.3x and an average of 43.0x. The current P/E of 26.6x places the stock at the 70th percentile of this range. Full historical data spans 1992–2025.
How does LNW's P/E compare to the S&P 500?
LNW trades at 26.6x P/E versus the S&P 500 median of 24.4x. The 9% premium to the market typically reflects higher expected earnings growth or quality.
How does LNW's valuation compare to Consumer Cyclical peers?
Light & Wonder, Inc. P/E of 26.6x compares to the Consumer Cyclical sector median of 21.2x. The premium reflects expected growth above peers or stronger fundamentals. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is LNW's PEG ratio?
LNW PEG ratio is N/A, based on a P/E of 26.6x and EPS growth of 110.3%. PEG normalises P/E by growth and helps compare stocks with different earnings trajectories.
What is LNW's earnings yield?
LNW earnings yield is 3.76%, the inverse of its 26.6x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.