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Light & WonderASX:LNW +0.29%83 PB Ratio is 19.88 as of Jul. 15, 2026, which is 98% above its 10-year median of 10.02. GuruFocus rates ASX:LNW with a GF Score™ of 83/100 and a GF Value™ of A$161.18 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 792 Travel & Leisure companies, Light & Wonder ranks worse than 97.22% on this metric.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. As of today (2026-07-15), Light & Wonder's share price is A$111.92. Light & Wonder's Book Value per Share for the quarter that ended in Mar. 2026 was A$5.63. Hence, Light & Wonder's PB Ratio of today is 19.88.
The historical rank and industry rank for Light & Wonder's PB Ratio or its related term are showing as below:
ASX:LNW'
s PB Ratio Range Over the Past 10 Years
Min: 3.76 Med: 10.02 Max: 37.6
Current: 19.71
During the past 13 years, Light & Wonder's highest PB Ratio was 37.60. The lowest was 3.76. And the median was 10.02.
ASX:LNW's PB Ratio is ranked worse than 97.22% of 792
companies
in the Travel & Leisure industry
Industry Median: 1.49
vs ASX:LNW: 19.71
During the past 12 months, Light & Wonder's average Book Value Per Share Growth Rate was -45.80% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was -33.60% per year.
During the past 13 years, the highest 3-Year average Book Value Per Share Growth Rate of Light & Wonder was 83.00% per year. The lowest was -78.80% per year. And the median was -2.30% per year.
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Light & Wonder PB Ratio Related Terms
Light & Wonder PB Ratio Historical Data
* Premium members only.
The historical data trend for Light & Wonder's PB Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Gambling subindustry, Light & Wonder's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Light & Wonder PB Ratio vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Light & Wonder's PB Ratio distribution charts can be found below:
* The bar in red indicates where Light & Wonder's PB Ratio falls into.
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
Light & Wonder's PB Ratio for today is calculated as follows:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Light & Wonder (ASX:LNW) has a PB Ratio of 19.88 as of Jul. 15, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Light & Wonder and its competitors. This is 98% above median its historical median of 10.02. Over the past decade, Light & Wonder's PB Ratio has ranged from 3.76 to 37.60. According to the industry distribution chart, Light & Wonder ranks #770 out of 792 companies in the Travel & Leisure industry, placing it in the top 97.2%.
Is Light & Wonder's PB Ratio too high?
Light & Wonder's current PB Ratio of 19.88 is 98% above median its 10-year median of 10.02. Over the past 10 years, this metric has ranged from a low of 3.76 to a high of 37.60. The Travel & Leisure industry median PB Ratio is 1.49. Light & Wonder's value of 19.88 is 1234.2% above this industry median. Based on the distribution chart, Light & Wonder ranks #770 out of 792 companies in the Travel & Leisure industry, which is in the bottom quartile relative to peers. Overall, Light & Wonder has a GF Score™ of 83/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Light & Wonder's PB Ratio compare to CHDN and SGHC?
According to the Travel & Leisure industry distribution chart, Light & Wonder ranks #770 out of 792 companies for PB Ratio. This places Light & Wonder in the lower half of its industry. The industry median PB Ratio is 1.49. Light & Wonder's value of 19.88 is 1234.2% above this benchmark. Historically, Light & Wonder's own PB Ratio has ranged from 3.76 to 37.60 over the past decade. While the company's 10-year median is 10.02 vs. the industry median of 1.49, Light & Wonder has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for a Travel & Leisure company?
The median PB Ratio among Travel & Leisure companies is 1.49, based on 792 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Light & Wonder's current PB Ratio of 19.88 is 1234.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Light & Wonder and its competitors. For the Travel & Leisure industry, the median PB Ratio is 1.49 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Light & Wonder's current PB Ratio is 19.88, which is 98% above median its own 10-year median of 10.02. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Light & Wonder stock overvalued right now?
Based on GuruFocus' analysis, Light & Wonder (ASX:LNW) is currently considered Possible Value Trap. The stock's GF Value™ is A$161.18, compared to a current price of A$111.92 — trading 30.6% below its estimated fair value. The current PB Ratio is 19.88, which is 98% above median its 10-year median of 10.02 and 1234.2% above the Travel & Leisure industry median of 1.49. Light & Wonder's overall GF Score™ is 83/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Light & Wonder (ASX:LNW), the current PB Ratio is 19.88 as of Jul. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Light & Wonder (ASX:LNW) Overvalued in 2026?
Based on GuruFocus' analysis, Light & Wonder stock appears to be undervalued.
The current stock price of A$111.92 is trading 30.6% below its estimated GF Value™ of A$161.18.
GuruFocus considers Light & Wonder to be Possible Value Trap.
Key valuation signals for ASX:LNW:
PB Ratio: 19.88 (98% above median its 10-year median of 10.02)
GF Value™: A$161.18 vs. price of A$111.92 (30.6% below fair value)
Industry Position: 1234.2% above the Travel & Leisure median (#770 of 792)
No single metric tells the full story. See the ASX:LNW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Light & Wonder is principally an electronic gaming machine manufacturer, selling machines to pubs, clubs, and casinos. The firm is licensed in most jurisdictions allowing gambling globally. Light & Wonder is one of the three largest players in the space along with International Game Technology and Aristocrat Leisure. SciPlay, about one fourth of revenue, develops and distributes casual mobile games, principally in the social casino niche. The more nascent iGaming business sits between these two businesses, providing digital content and capabilities to real-money gaming providers.
83GF Score
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