Light & Wonder (LAWIL) Cost of Revenue (2009 - 2026)
Light & Wonder's Cost of Revenue came in at $201 million for Q3 2026, down 7.4% from $217 million a year earlier and down 4.3% from the prior quarter.
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Analysis
Light & Wonder (LAWIL) Cost of Revenue (2009 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Light & Wonder reported Cost of Revenue of $843 million, down 3.9% year-over-year; for FY2025, it was $885 million, down 4.9% from FY2024.
- Cost of Revenue carries a three-year compound annual growth rate of 6.2% (FY2022 to FY2025).
- Going back by year, Cost of Revenue was $931 million in FY2024 (+6.8%), $872 million in FY2023 (+18.2%) and $738 million in FY2022.
- The five-year range for quarterly Cost of Revenue is $160 million (Q1 2022) to $246 million (Q3 2024).
- Year-over-year, Cost of Revenue has declined for three consecutive quarters, with an average decline of 5.1% over the last eight quarters.
- The fastest year-over-year change in Cost of Revenue over five years came in Q1 2023 (growth of 26.3%), and the weakest in Q3 2025 (a decline of 11.8%).
- Business Quant data shows LAWIL's Cost of Revenue at $210 million (Q2 2026), $194 million (Q1 2026) and $238 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 26.06 Bn | 12.66 Bn | 1.47 Bn | 1.75 Bn |
| 2 | Flutter Entertainment | 14.35 Bn | 7.74 Bn | 1.52 Bn | 2.36 Bn |
| 3 | Life Time Group Holdings | 10.48 Bn | 9.65 Bn | 419.01 Mn | 474.52 Mn |
| 4 | DraftKings | 9.19 Bn | 4.85 Bn | 551.45 Mn | 891.78 Mn |
| 5 | Wynn Resorts | 8.47 Bn | 2.61 Bn | 655.12 Mn | 1.03 Bn |
| 6 | MGM Resorts International | 8.13 Bn | -1.17 Bn | 1.73 Bn | 2.48 Bn |
| 7 | Madison Square Garden Sports | 7.83 Bn | 7.42 Bn | 119.21 Mn | 159.53 Mn |
| 8 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 201.00 Mn |
| 9 | Churchill Downs | 6.86 Bn | 6.09 Bn | 207.00 Mn | 489.00 Mn |
| 10 | Caesars Entertainment | 5.96 Bn | 2.38 Bn | 1.44 Bn | 1.50 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 201.00 Mn |
| Jun 30, 2026 | 210.00 Mn |
| Mar 31, 2026 | 194.00 Mn |
| Dec 31, 2025 | 238.00 Mn |
| Sep 30, 2025 | 217.00 Mn |
| Jun 30, 2025 | 219.00 Mn |
| Mar 31, 2025 | 211.00 Mn |
| Dec 31, 2024 | 230.00 Mn |
| Sep 30, 2024 | 246.00 Mn |
| Jun 30, 2024 | 236.00 Mn |
| Mar 31, 2024 | 219.00 Mn |
| Dec 31, 2023 | 234.00 Mn |
| Sep 30, 2023 | 218.00 Mn |
| Jun 30, 2023 | 218.00 Mn |
| Mar 31, 2023 | 202.00 Mn |
| Dec 31, 2022 | 204.00 Mn |
| Sep 30, 2022 | 193.00 Mn |
| Jun 30, 2022 | 180.00 Mn |
| Mar 31, 2022 | 160.00 Mn |
| Dec 31, 2021 | 170.00 Mn |
API Access
Light & Wonder Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=LAWIL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "LAWIL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=LAWIL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();