# Codere Online Luxembourg S.A. (CDRO) fundamentals

Data as of 2026-11-04. NASDAQ, United States. Sector: Consumer Cyclical / Hospitality & Leisure. Price $8.69, market value $395 million.

## Valuation
- **P/E (trailing): 33.4×** (5-yr avg 174.1×, 3-yr avg 174.1×). Codere Online Luxembourg S.A. trades at 33.4× trailing earnings, well below its own five-year average of 174.1×: cheap by its own standards. The Consumer Cyclical median in the September 2026 study was 19.5×. Forward P/E is 14.3×, lower than trailing, so analysts expect earnings to grow.
- **Price / sales: 1.7×**. Each dollar of revenue is priced at 1.7×.
- **Price / book: 9.2×**. The shares trade at 9.2× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **EV / EBITDA: 46.6×**. Enterprise value is 46.6× operating earnings before depreciation, the multiple that ignores how the company is financed; above 20× is demanding.
- **Free-cash-flow yield: 4.6%** (5-yr avg 4.5%). Free cash flow equals 4.6% of the market value, in line with its five-year average of 4.5%.
- **Earnings yield: 3.0%**. The inverse of the P/E: 3.0% of the price is earned each year.

## Profitability
- **Gross margin: 96.0%**. Codere Online Luxembourg S.A. keeps 96.0% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 2.7%**. 2.7% of revenue is left after running the business, which leaves little cushion in a downturn.
- **Net margin: 0.6%**. 0.6% of each dollar of sales reaches the bottom line.
- **Return on equity: 4.5%**. 4.5% on shareholders' equity is weak; the business earns little on the capital its owners have in it.
- **Return on invested capital: -10.6%**. Return on all capital, debt included, is -10.6%: close to or below the cost of capital, so growth may not create value.
- **Return on assets: 1.6%**. Each dollar of assets produces 1.6% of profit.

## Growth
- **Revenue growth (1 yr): 4.8%** (3-yr 22.0%/yr, 5-yr 24.4%/yr). Revenue grew 4.8% over the last year, against 24.4% a year compounded over five years: growth is slowing.
- **EPS growth (1 yr): -62.5%**. Earnings per share fell 62.5%, slower than revenue, so margins compressed.

## Financial health
- **Debt to equity: 0.14**. Debt is 0.14 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Codere Online Luxembourg S.A. holds more cash than debt.
- **Current ratio: 1.37** (quick 1.37). Current assets cover the next year's liabilities 1.37 times.
- **Altman Z-score: 8.15**. A Z-score of 8.15 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 3/9**. 3 of 9 checks pass: weak or deteriorating financials.

## Dividends
- **Dividend: none**. Codere Online Luxembourg S.A. does not currently pay a dividend, but it returned 0.7% of its market value through buybacks over the last year.

## Analyst view
- **Analyst consensus: buy** (3 analysts). 3 analysts cover Codere Online Luxembourg S.A.; the consensus is buy, with an average price target of $12.67 (+46% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): 39.9%** (YTD 6.1%, 3-mo -8.1%). The shares are up 39.9% over twelve months including dividends.
- **From 52-week high: -15.3%** (67.8% above the low). Trading 15% below its 52-week high.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 37**. An RSI of 37 is neutral.
- **Beta (1 yr): 0.41** (volatility 33%). Beta of 0.41 against the S&P 500: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CDRO · Page: https://foliofundamentals.com/stocks/cdro

Not investment advice.