Codere Online Luxembourg, S.A. (CDROW) 주식 분석

회사 개요

Codere Online Luxembourg, S.A. (CDROW) operates as an online casino gaming and sports betting entity with a significant physical footprint across land-based casinos, gaming halls, and gambling establishments. The company serves a diverse international market including Spain, Mexico, Colombia, Panama, Argentina, and other global regions, providing online casino games accessible both digitally and within physical venues. Although specific sector and industry classifications are not currently disclosed in available data, the firm employs 325 individuals to support its extensive operations in the regulated gaming landscape. The reported annual revenue stands at $203.93 million, while the market capitalization is listed as N/A, which prevents a direct assessment of its total equity value relative to peers. This combination of substantial revenue generation and a defined workforce suggests the company maintains a significant operational scale within the competitive online gambling industry, despite the absence of standard valuation metrics that typically define market position.

재무 건전성

The company generated $203.93 million in revenue over the trailing twelve months, yet recorded a net income of only $1.01 million with an EBITDA of $5.84 million. The substantial disparity between the $203.93 million in revenue and the $1.01 million in net income reveals a highly compressed profit structure where operating expenses heavily impact the bottom line. The firm demonstrated strong liquidity with free cash flow of $10.62 million, indicating a robust ability to generate cash from operations independent of non-cash accounting adjustments. This positive cash flow provides the company with significant financial flexibility to manage liquidity needs or fund operational requirements without relying on external financing. Gross margin stands at an impressive 91.2%, reflecting the high-margin nature of digital gaming products, whereas the operating margin of 2.9% and profit margin of 0.5% indicate that significant costs related to distribution, marketing, or regulatory compliance erode the gross profits before reaching the net income. The balance sheet appears conservative, holding $45.12 million in cash against a relatively low debt load of $3.70 million, resulting in a debt-to-equity ratio of 17.98. The current ratio of 1.40 further confirms that the company possesses sufficient current assets to cover its short-term liabilities with a comfortable margin of safety. Return on Equity is reported at 5.1% and Return on Assets at 5.0%, metrics that suggest management generates modest returns on the capital deployed, which is consistent with the low net income figure relative to the revenue base.

밸류에이션 평가

Trailing P/E and forward P/E ratios are both listed as N/A, making it impossible to derive a traditional earnings-based valuation multiple or compare expected earnings trajectories using these standard metrics. The price-to-book ratio is 1.45, which suggests that the market values the company's equity at 45% above its book value, potentially reflecting intangible assets such as brand value or user data that are not fully captured on the balance sheet. Alternative valuation metrics such as price-to-sales and EV/EBITDA are also unavailable in the provided data, limiting the ability to benchmark the stock against revenue or cash flow generation standards. The stock has traded between a 52-week high of $0.78 and a 52-week low of $0.67, establishing a trading range of $0.11 within which the current price must be situated. Given the high of $0.78 and low of $0.67, any price point within this band represents a specific percentage distance from the recent extremes, though the exact current price is not provided to calculate a precise percentage deviation. The beta is 0.41, indicating that the stock's price volatility is significantly lower than the broader market, suggesting it behaves as a defensive asset that moves less than half as much as the market index during periods of fluctuation.

Growth & Income

Revenue growth over the past year is recorded at 3.2%, while earnings growth is listed as N/A, preventing a direct comparison of earnings velocity against revenue expansion. The absence of earnings growth data implies that profitability has remained static or fluctuated without a clear upward trajectory, contrasting with the steady revenue increase. Since the dividend yield and payout ratio are both N/A, the company does not distribute cash to shareholders through dividends, opting instead to retain earnings. This reinvestment strategy aligns with the low net income profile, where retaining capital is necessary to cover the high operating expenses and fund the expansion of gaming operations. The overall growth and income profile is characterized by steady top-line expansion driven by a 3.2% revenue increase, coupled with a lack of dividend payouts and unavailable earnings growth data that obscures the pace of profitability improvement.