NASDAQ : CDRO
Codere Online Luxembourg, S.A. — Financial statements
Consumer Discretionary · Gambling · Luxembourg
Last price 8.65 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 393.31M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Codere Online Luxembourg, S.A. (CDRO) reported revenue of 229.79M EUR (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 229.79M | 210.41M | 200.70M | 161.65M | 115.75M | 80.25M |
| Cost of Revenue | 33.57M | 25.00M | 18.78M | 17.44M | 15.30M | 7.08M |
| Gross Profit | 196.22M | 185.40M | 181.92M | 144.21M | 100.45M | 73.17M |
| Selling, General & Admin | 89.28M | 85.53M | 85.59M | 75.66M | 88.94M | 48.81M |
| Other Operating Expenses | 98.23M | 93.49M | 91.61M | 83.19M | 66.83M | 49.27M |
| Operating Expenses | 188.19M | 179.66M | 177.59M | 158.96M | 156.32M | 98.80M |
| Operating Income | 8.02M | 5.74M | 4.33M | -14.75M | -55.88M | -25.63M |
| Interest Expense | -185.00K | -188.00K | -105.00K | -6.00K | ||
| Interest & Investment Income | 335.00K | 342.00K | 603.00K | 1.81M | 88.00K | |
| Currency Exchange Gain (Loss) | -1.82M | -5.03M | -6.52M | -1.62M | 5.83M | -50.00K |
| Other Non Operating Income (Expenses) | -42.00K | -827.00K | -3.31M | -683.00K | 4.28M | 3.97M |
| EBT Excluding Unusual Items | 6.31M | 38.00K | -5.00M | -15.24M | -45.68M | -21.72M |
| Merger & Restructuring Charges | -45.40M | |||||
| Gain (Loss) on Sale of Investments | -2.00K | 25.00K | 1.38M | 1.02M | ||
| Other Unusual Items | 5.76M | 3.25M | 8.99M | 5.29M | 2.27M | 70.00K |
| Pretax Income | 12.06M | 3.31M | 5.37M | -8.93M | -43.41M | -67.05M |
| Income Tax Expense | 2.04M | 2.02M | 1.46M | -6.51M | 2.97M | 966.00K |
| Earnings From Continuing Operations | 10.03M | 1.29M | 3.91M | -2.42M | -46.38M | -68.01M |
| Minority Interest in Earnings | -4.00K | -3.00K | -2.00K | -2.00K | 1.00K | -54.00K |
| Net Income | 10.02M | 1.29M | 3.91M | -2.42M | -46.38M | -68.07M |
| Net Income to Common | 10.02M | 1.29M | 3.91M | -2.42M | -46.38M | -68.07M |
| Shares Outstanding (Basic) | 45.42M | 45.50M | 45.48M | 45.27M | 45.12M | 6.69M |
| Shares Outstanding (Diluted) | 45.88M | 45.89M | 46.07M | 45.27M | 45.12M | 6.69M |
| EPS (Basic) | 0.22 | 0.03 | 0.09 | -0.05 | -1.03 | -10.18 |
| EPS (Diluted) | 0.22 | 0.03 | 0.08 | -0.05 | -1.03 | -10.18 |
| Free Cash Flow | 25.18M | 16.42M | 3.69M | -11.82M | -42.52M | -5.75M |
| Free Cash Flow Per Share | 0.55 | 0.36 | 0.08 | -0.26 | -0.94 | -0.86 |
| Gross Margin | 85.39% | 88.12% | 90.64% | 89.21% | 86.78% | 91.18% |
| Operating Margin | 3.49% | 2.73% | 2.16% | -9.13% | -48.27% | -31.94% |
| Profit Margin | 4.36% | 0.61% | 1.95% | -1.49% | -40.07% | -84.82% |
| Free Cash Flow Margin | 10.96% | 7.80% | 1.84% | -7.32% | -36.74% | -7.16% |
| EBITDA | 8.14M | 5.86M | 4.47M | -14.64M | -55.70M | -25.48M |
| EBITDA Margin | 3.54% | 2.79% | 2.23% | -9.06% | -48.12% | -31.74% |
| D&A For EBITDA | 120.00K | 121.00K | 136.00K | 114.00K | 177.00K | 154.00K |
| EBIT | 8.02M | 5.74M | 4.33M | -14.75M | -55.88M | -25.63M |
| EBIT Margin | 3.49% | 2.73% | 2.16% | -9.13% | -48.27% | -31.94% |
| Effective Tax Rate | 16.87% | 60.90% | 27.21% |
Balance sheet
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 62.53M | 49.98M | 40.31M | 41.28M | 53.81M | 94.91M |
| Cash & Short-Term Investments | 62.53M | 49.98M | 40.31M | 41.28M | 53.81M | 94.91M |
| Accounts Receivable | 2.21M | 855.00K | 1.05M | 8.05M | 4.21M | 3.28M |
| Other Receivables | 8.04M | 5.48M | 5.88M | 5.14M | 2.85M | 1.84M |
| Receivables | 10.25M | 6.33M | 6.92M | 13.19M | 7.07M | 5.12M |
| Prepaid Expenses | 1.54M | 1.51M | 2.20M | 414.00K | 677.00K | 739.00K |
| Other Current Assets | 10.14M | 9.66M | 13.49M | 10.40M | 6.78M | 3.90M |
| Total Current Assets | 84.47M | 67.48M | 62.92M | 65.28M | 68.33M | 104.67M |
| Property, Plant & Equipment | 2.21M | 2.44M | 2.41M | 331.00K | 200.00K | 133.00K |
| Other Intangible Assets | 10.00K | 10.00K | 469.00K | |||
| Long-Term Deferred Tax Assets | 11.86M | 10.94M | 9.21M | 8.18M | 771.00K | |
| Other Long-Term Assets | 2.00K | 4.00K | ||||
| Total Assets | 98.53M | 80.86M | 74.54M | 73.80M | 69.31M | 105.28M |
| Accounts Payable | 38.82M | 32.08M | 33.25M | 39.39M | 23.79M | 24.59M |
| Accrued Expenses | 1.16M | 850.00K | 773.00K | 750.00K | 1.87M | 1.47M |
| Short-Term Debt | 1.81M | 3.37M | 5.11M | 4.24M | ||
| Current Portion of Long-Term Debt | 2.98M | |||||
| Current Portion of Leases | 290.00K | 504.00K | 364.00K | |||
| Current Income Taxes Payable | 5.76M | 966.00K | ||||
| Other Current Liabilities | 17.05M | 14.04M | 7.21M | 6.86M | 7.09M | 1.60M |
| Total Current Liabilities | 57.32M | 49.28M | 44.96M | 52.10M | 42.75M | 31.61M |
| Long-Term Leases | 1.59M | 1.61M | 1.64M | |||
| Long-Term Deferred Tax Liabilities | 1.29M | 1.26M | 710.00K | |||
| Other Long-Term Liabilities | 3.72M | 408.00K | 1.30M | 5.51M | ||
| Total Liabilities | 60.20M | 52.16M | 50.32M | 52.51M | 44.76M | 37.12M |
| Common Stock | 45.86M | 45.64M | 45.49M | 45.30M | 45.12M | 45.12M |
| Additional Paid-In Capital | 106.92M | 106.92M | 106.92M | 106.92M | 106.92M | 106.92M |
| Retained Earnings | -140.05M | -145.64M | -146.93M | -150.84M | -148.42M | -102.04M |
| Comprehensive Income & Other | 25.46M | 21.62M | 18.59M | 19.76M | 20.78M | 18.00M |
| Total Common Equity | 38.19M | 28.55M | 24.07M | 21.14M | 24.40M | 68.01M |
| Minority Interest | 154.00K | 152.00K | 149.00K | 147.00K | 146.00K | 147.00K |
| Shareholders' Equity | 38.34M | 28.70M | 24.22M | 21.29M | 24.55M | 68.15M |
| Total Liabilities & Equity | 98.53M | 80.86M | 74.54M | 73.80M | 69.31M | 105.28M |
| Total Debt | 1.88M | 3.93M | 5.37M | 5.11M | 4.24M | 2.98M |
| Net Cash (Debt) | 60.66M | 46.06M | 34.94M | 36.17M | 49.56M | 91.92M |
| Net Cash Per Share | 1.32 | 1.00 | 0.76 | 0.80 | 1.10 | 13.75 |
| Filing Date Shares Outstanding | 45.47M | 45.39M | 45.64M | 45.64M | 45.30M | 45.12M |
| Total Common Shares Outstanding | 45.47M | 45.25M | 45.49M | 45.30M | 45.12M | 45.12M |
| Working Capital | 27.15M | 18.20M | 17.96M | 13.18M | 25.57M | 73.06M |
| Book Value Per Share | 0.84 | 0.63 | 0.53 | 0.47 | 0.54 | 1.51 |
| Tangible Book Value | 38.19M | 28.55M | 24.07M | 21.13M | 24.39M | 67.54M |
| Tangible Book Value Per Share | 0.84 | 0.63 | 0.53 | 0.47 | 0.54 | 1.50 |
| Machinery | 894.00K | 844.00K | 649.00K | 404.00K | 257.00K |
Cash flow statement
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 10.02M | 1.29M | 3.91M | -2.42M | -46.38M | -68.07M |
| Depreciation & Amortization | 688.00K | 645.00K | 378.00K | 114.00K | 177.00K | 162.00K |
| Other Amortization | 10.00K | 379.00K | 559.00K | |||
| Loss (Gain) From Sale of Investments | 2.00K | -25.00K | -1.38M | -1.02M | ||
| Other Operating Activities | 654.00K | 7.95M | 1.57M | -10.29M | -7.21M | 40.60M |
| Change in Accounts Receivable | -8.48M | 5.28M | 2.14M | -9.27M | -3.94M | 10.32M |
| Change in Accounts Payable | 15.73M | 1.36M | -2.68M | 11.30M | 14.47M | 10.82M |
| Operating Cash Flow | 25.31M | 16.51M | 3.94M | -11.58M | -42.36M | -5.67M |
| Capital Expenditures | -131.00K | -85.00K | -256.00K | -245.00K | -164.00K | -80.00K |
| Investment in Securities | -3.00K | |||||
| Investing Cash Flow | -131.00K | -85.00K | -256.00K | -245.00K | -164.00K | -83.00K |
| Short-Term Debt Issued | 1.33M | |||||
| Long-Term Debt Issued | 450.00K | |||||
| Total Debt Issued | 1.33M | 450.00K | ||||
| Short-Term Debt Repaid | -1.56M | -1.74M | ||||
| Long-Term Debt Repaid | -471.00K | -197.00K | -9.00K | |||
| Lease Payments | -553.00K | -471.00K | -197.00K | -9.00K | ||
| Total Debt Repaid | -2.11M | -2.03M | -1.94M | -9.00K | ||
| Net Debt Issued (Repaid) | -2.11M | -2.03M | -1.94M | 1.33M | 441.00K | |
| Repurchase of Common Stock | -2.04M | -2.36M | ||||
| Other Financing Activities | -185.00K | -188.00K | -105.00K | 89.37M | ||
| Financing Cash Flow | -4.34M | -4.58M | -2.04M | 1.33M | 89.81M | |
| Foreign Exchange Rate Adjustments | -3.43M | -2.17M | -2.62M | -2.04M | 1.42M | -50.00K |
| Net Cash Flow | 17.41M | 9.68M | -971.00K | -12.53M | -41.10M | 84.01M |
| Free Cash Flow | 25.18M | 16.42M | 3.69M | -11.82M | -42.52M | -5.75M |
| Free Cash Flow Margin | 10.96% | 7.80% | 1.84% | -7.32% | -36.74% | -7.16% |
| Free Cash Flow Per Share | 0.55 | 0.36 | 0.08 | -0.26 | -0.94 | -0.86 |
| Levered Free Cash Flow | 20.68M | 14.88M | -1.61M | -10.35M | -29.40M | -9.36M |
| Unlevered Free Cash Flow | 20.80M | 15.00M | -1.54M | -10.35M | -29.40M | -9.36M |
| Free Cash Flow After Leases | 24.63M | 15.95M | 3.49M | -11.82M | -42.52M | -5.76M |
| Cash Interest Paid | 185.00K | 188.00K | 105.00K | |||
| Cash Income Tax Paid | 3.37M | 2.55M | 2.09M | 1.22M | 881.00K | 270.00K |
| Change in Working Capital | 7.24M | 6.65M | -541.00K | 2.03M | 10.53M | 21.14M |
Ratios
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 393.31M | 365.81M | 293.42M | 133.18M | 116.41M | 271.63M |
| Enterprise Value | 324.02M | 317.33M | 255.79M | 86.38M | 32.38M | 265.33M |
| Last Close Price | 8.65 | 8.03 | 6.45 | 2.94 | 2.58 | 6.02 |
| PE Ratio | 34.32 | 241.15 | 72.52 | |||
| Forward PE | 20.45 | 24.44 | 20.77 | |||
| PS Ratio | 1.50 | 1.48 | 1.41 | 0.74 | 0.94 | 2.98 |
| PB Ratio | 9.02 | 10.86 | 11.70 | 5.66 | 4.44 | 3.50 |
| P/TBV Ratio | 9.02 | 10.91 | 11.77 | 5.70 | 4.47 | 3.54 |
| P/FCF Ratio | 13.98 | 18.97 | 76.87 | |||
| P/OCF Ratio | 13.91 | 18.87 | 71.88 | |||
| EV/Sales Ratio | 1.23 | 1.28 | 1.23 | 0.48 | 0.26 | 2.91 |
| EV/EBITDA Ratio | 34.83 | 46.13 | 55.31 | |||
| EV/EBIT Ratio | 35.35 | 47.10 | 57.05 | |||
| EV/FCF Ratio | 11.52 | 16.46 | 67.01 | |||
| Debt / Equity Ratio | 0.05 | 0.14 | 0.22 | 0.24 | 0.17 | 0.04 |
| Debt / EBITDA Ratio | 0.22 | 0.62 | 1.14 | |||
| Debt / FCF Ratio | 0.07 | 0.24 | 1.46 | |||
| Net Debt / Equity Ratio | -1.58 | -1.60 | -1.44 | -1.70 | -2.02 | -1.35 |
| Net Debt / EBITDA Ratio | -7.45 | -7.86 | -7.82 | 2.47 | 0.89 | 3.61 |
| Net Debt / FCF Ratio | -2.41 | -2.80 | -9.48 | 3.06 | 1.17 | 15.99 |
| Asset Turnover | 2.73 | 2.71 | 2.71 | 2.26 | 1.33 | 1.30 |
| Quick Ratio | 1.27 | 1.14 | 1.05 | 1.04 | 1.42 | 3.17 |
| Current Ratio | 1.47 | 1.37 | 1.40 | 1.25 | 1.60 | 3.31 |
| Return on Equity (ROE) | 34.05% | 4.89% | 17.18% | -10.54% | -100.07% | -481.87% |
| Return on Assets (ROA) | 5.96% | 4.61% | 3.65% | -12.89% | -40.01% | -25.87% |
| Return on Capital Employed (ROCE) | 19.50% | 18.20% | 14.60% | -68.00% | -210.40% | -34.80% |
| Earnings Yield | 2.91% | 0.41% | 1.38% | -2.01% | -42.58% | -28.50% |
| FCF Yield | 7.15% | 5.27% | 1.30% | -9.81% | -39.03% | -2.41% |
| Buyback Yield / Dilution | 0.51% | 0.39% | -1.76% | -0.34% | -574.83% | -49.80% |