Light & Wonder (LAWIL) EBITDA Margin (2009 - 2026)
Light & Wonder (LAWIL) reported EBITDA Margin of 42.11% for Q3 2026, up 2.04 percentage points from 40.07% a year earlier and up 1.05 percentage points from the prior quarter.
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Analysis
Light & Wonder (LAWIL) EBITDA Margin (2009 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Light & Wonder's EBITDA Margin came in at 33.49%, down 2.64 percentage points year-over-year; for FY2025, it was 32.86%, up 0.58 percentage points from FY2024.
- EBITDA Margin has increased for five consecutive years, with a five-year change of +20.85 percentage points (FY2020 to FY2025).
- By year, EBITDA Margin came in at 32.28% in FY2024 (+1.20 pp), 31.08% in FY2023 (+3.49 pp), 27.59% in FY2022 (+3.99 pp) and 23.59% in FY2021 (+11.59 pp).
- The Q3 2026 figure ranks as the highest quarterly EBITDA Margin since Q4 2018.
- Year over year, EBITDA Margin gained in six of the last eight quarters, with an average year-over-year change of +0.96 percentage points.
- The high point for year-over-year EBITDA Margin in five years was Q4 2022 (a gain of 9.99 percentage points); the low point was Q4 2025 (a drop of 11.79 percentage points).
- Per Business Quant data, the three quarters before Q3 2026 came in at 41.06% (Q2 2026), 30.13% (Q1 2026) and 21.46% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBITDA Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Wynn Resorts | 44.86 Bn | 38.23 Bn | 655.12 Mn | 21.08% |
| 2 | Vail Resorts | 28.33 Bn | 27.04 Bn | - | -45.99% |
| 3 | Las Vegas Sands | 25.59 Bn | 12.41 Bn | 1.47 Bn | 30.91% |
| 4 | DraftKings | 17.25 Bn | 13.04 Bn | 429.05 Mn | -31.17% |
| 5 | Flutter Entertainment | 14.34 Bn | 7.97 Bn | 1.52 Bn | -18.61% |
| 6 | Life Time Group Holdings | 10.65 Bn | 9.82 Bn | 419.01 Mn | 27.30% |
| 7 | MGM Resorts International | 8.32 Bn | -116.89 Mn | 1.73 Bn | 9.53% |
| 8 | MSG Knickerbockers | 7.63 Bn | 7.24 Bn | 36.67 Mn | -54.25% |
| 9 | Light & Wonder | 7.12 Bn | 6.42 Bn | 623.00 Mn | 42.11% |
| 10 | Churchill Downs | 6.99 Bn | 6.25 Bn | 207.00 Mn | 29.31% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 42.11% |
| Jun 30, 2026 | 41.06% |
| Mar 31, 2026 | 30.13% |
| Dec 31, 2025 | 21.46% |
| Sep 30, 2025 | 40.07% |
| Jun 30, 2025 | 37.21% |
| Mar 31, 2025 | 33.72% |
| Dec 31, 2024 | 33.25% |
| Sep 30, 2024 | 30.48% |
| Jun 30, 2024 | 32.03% |
| Mar 31, 2024 | 33.20% |
| Dec 31, 2023 | 31.39% |
| Sep 30, 2023 | 32.42% |
| Jun 30, 2023 | 30.23% |
| Mar 31, 2023 | 30.30% |
| Dec 31, 2022 | 29.47% |
| Sep 30, 2022 | 29.48% |
| Jun 30, 2022 | 25.08% |
| Mar 31, 2022 | 25.87% |
| Dec 31, 2021 | 19.48% |
API Access
Light & Wonder EBITDA Margin 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=ebitda-margin&ticker=LAWIL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ebitda-margin", "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=ebitda-margin&ticker=LAWIL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();