Visão geral da empresa
Codere Online Luxembourg, S.A. operates as a specialized provider of online casino gaming and sports betting services across multiple international jurisdictions, including Spain, Mexico, Colombia, Panama, Argentina, and other global markets. The company functions within the Consumer Cyclical sector, specifically the Gambling industry, which positions it as a beneficiary of discretionary consumer spending on entertainment and wagering activities. In terms of scale, the entity maintains a market capitalization of $389.50M and generates annual revenue totaling $203.93M while employing a workforce of 325 individuals. These valuation and revenue figures indicate that the company holds a significant position within its niche, commanding a substantial market value relative to its reported sales, though the high market cap compared to revenue suggests investors are pricing in future expansion or specific asset values beyond current operational cash flows.
Saúde financeira
The company reported a revenue of $203.93M for the trailing twelve months, yet this generated a net income of only $1.01M, revealing a cost structure where operating expenses consume the vast majority of top-line revenue before reaching the bottom line. This discrepancy is further highlighted by an EBITDA of $5.84M, which sits significantly above net income, demonstrating that the tax and non-operating expenses impact the final profitability substantially. The financial margins reflect this dynamic, with a gross margin of 91.2% indicating highly efficient core operations and low cost of goods sold, contrasted by an operating margin of 2.9% and a profit margin of 0.5% that expose the heavy burden of general and administrative costs. Despite the low net income, the company generated positive free cash flow of $10.62M, providing the financial flexibility to fund operations, service debt, or pursue strategic initiatives without relying on external equity financing. The balance sheet presents a conservative profile with cash reserves of $45.12M substantially exceeding total debt of $3.70M, supported by a low debt-to-equity ratio of 17.98%. Liquidity is robust, evidenced by a current ratio of 1.40, which signifies the ability to comfortably cover short-term obligations with current assets. Furthermore, the return on equity of 5.1% and return on assets of 5.0% suggest that management effectiveness is moderate, generating returns that are commensurate with the capital employed but constrained by the low overall profitability margins.
Avaliação de valorização
The valuation metrics present a distinct divergence between historical performance and future expectations, with a trailing P/E ratio of 427.50 compared to a forward P/E of 18.96. This stark difference implies that the market anticipates a significant trajectory toward higher earnings growth, as the current high multiple is likely unsustainable given the low historical net income relative to the projected forward earnings. The price-to-book ratio stands at 16.49, indicating that the market values the company at a heavy premium over its net asset value, potentially reflecting intangible assets like licenses or brand equity not fully captured on the balance sheet. Alternative valuation measures such as the price-to-sales ratio of 1.91 and an EV/EBITDA of 59.67 further suggest that investors are paying a high price for revenue and earnings power, valuing the business well above traditional multiples for mature companies. The stock has traded between a 52-week high of $8.77 and a 52-week low of $5.18, meaning the current price sits at a position that reflects recent volatility but remains well below the annual peak. The beta of 0.41 indicates that the stock exhibits low price volatility relative to the broader market, moving less than half as much as the market index during periods of fluctuation.
Growth & Income
Revenue growth for the trailing twelve months stands at 3.2%, while earnings growth is marked as N/A due to the minimal net income figures that prevent a meaningful year-over-year percentage calculation. The inability to calculate a standard earnings growth rate suggests that current earnings are too small to provide a statistically significant growth metric, implying that revenue expansion is the primary driver of value creation rather than immediate profitability scaling. As a non-dividend payer, the company maintains a dividend yield of N/A and a payout ratio of 0.0%, meaning that all net income is retained within the business to fund operations and potential growth initiatives rather than being distributed to shareholders. This strategy of reinvesting earnings rather than paying dividends is consistent with companies in the early stages of profitability scaling or those prioritizing balance sheet strengthening in a capital-intensive regulatory environment. The overall growth and income profile is characterized by steady revenue expansion without a current dividend stream, relying entirely on capital appreciation and operational efficiency to generate shareholder value.