Codere Online Luxembourg, S.A.
Codere Online Luxembourg, S.A. is an online gaming and sports betting company that provides digital casino entertainment and wagering services through its website and mobile applications. The company offers online sports betting, casino games, slot machines, table games, bingo, and other betting products under the Codere brand. It serves customers across Spain, Mexico, Colombia, Panama, Argentina, Italy, and other international markets, with operations organized around both pure online and omnichannel models. Codere Online Luxembourg, S.A. focuses on delivering regulated digital gaming services for consumers in markets where online betting and casino play are established forms of leisure and entertainment. Headquartered in Luxembourg, the company is part of the broader online gambling sector and plays a role in connecting traditional gaming brands with modern mobile-first and internet-based distribution.
$9.45
-$0.18 (-1.87%)
EOD Oct 16, 2026
Operating margin is thin at 2.73%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 4.8%, steady but not accelerating.
At 280x earnings, the current multiple leaves limited room for execution misses or growth deceleration. ROIC dropped from 11.26% to 9.22%, capital efficiency is deteriorating.
279.9x earnings, 22.1x FCF. The market is pricing in years of above-average growth. If that thesis breaks, downside from multiple compression alone could be 30%+. This is a stock where you're paying for the future, not the present.
Price History
Valuation & Multiples
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
€210M
▲ +4.8% YoY
Net Income (TTM)
€1M
▼ -66.9% YoY
Op. Margin
2.73%
▲ +0.6pp YoY
ROIC
9.22%
▼ -2.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
€16M
▲ +345.4% YoY
Op. Cash Flow (TTM)
€17M
▲ +318.7% YoY
Net Debt
-€56M
Net Cash Position
Cash & Equiv.
€60M
3Y CAGR: +22.0%
Continue Research
Is Codere Online Luxembourg (CDRO) overvalued?
At a P/E of 279.9 and a price-to-free-cash-flow of 22.1, Codere Online Luxembourg (CDRO) trades below a two-stage DCF intrinsic value of about €20.50 per share, so at €9.45 the stock looks undervalued (116.9% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Codere Online Luxembourg scores 85/100 on Intrinsiqq's quality scorecard (a high-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. All figures are computed from company filings; read the full methodology, or see how the market compares in our US profitability statistics. This is analysis, not investment advice.
Frequently asked
What is Codere Online Luxembourg's fair value?+
Intrinsiqq's two-stage DCF estimates an intrinsic value of about €20.50 per share for CDRO, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around €15.37. At today's €9.45, that puts the stock about 116.9% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Is Codere Online Luxembourg a high-quality business?+
Codere Online Luxembourg scores 85 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a high-quality business on these measures. Recent fundamentals include a 2.7% operating margin and a 9.2% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from company filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Is Codere Online Luxembourg a good stock to buy right now?+
That depends on valuation and quality together, not either alone. CDRO currently trades below its estimated intrinsic value and scores 85/100 on quality (high-quality). A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from company filings, not investment advice.
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Data sourced from company filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.