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Codere Online Luxembourg, S.A. (CDRO)

USD9.55 +0.10 (+1.06%)
LU NASDAQ Consumer Cyclical Gambling, Resorts & Casinos
Address 7 rue Robert Stümper 2557
Luxembourg City, LU
CEO Aviv Sher
IPO 2021-01-27
CIK 1866782 ISIN LU2405144788

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Also trades on NASDAQ Capital Market · CDRO (USD) NASDAQ Capital Market · CDROW (USD) NASDAQ Capital Market · DDMX (USD) NASDAQ Capital Market · DDMXU (USD) NASDAQ Capital Market · DDMXW (USD)
Description

Specializing in the digital gambling sector, Codere Online Luxembourg, S.A. provides an array of online casino games and sports betting services. Its core operational footprint spans several countries, notably Spain, Italy, Mexico, Colombia, Panama, and Argentina. This enterprise maintains its corporate base in Luxembourg.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
USD9.55 +0.10 (+1.06%)
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Volume Profile
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Liquidity & share structure
Average Volume
32.1K
Beta
0.44
Float Shares
14.99M
Free Float %
32.9%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.66% -0.11% +7.12% +16.94% +58.55% +14.32% +10.60% +222.11% -7.18% -10.35% -10.35%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Analyst Consensus (1 ratings, all time) Hold
Price Targets & DCF
Current price
9.55
Low 10.00 +4.7%
Consensus 10.00 +4.7%
Median 10.00 +4.7%
High 10.00 +4.7%
DCF (Unlevered) 32.10 +236.2%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 50% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 2 0
Hold 2 0
Sell 0 0
Strong Sell 0 0
Price Target Summary
Period # Analysts Avg Target
Last Month 1
10.00
+4.7%
Last Quarter 1
10.00
+4.7%
Last Year 2
9.25
-3.1%
All Time 4
9.38
-1.8%
Quality scores
Altman Z-Score
4.47
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
4 / 10
Developing
Composite Rating
C-
Overall Score
1 / 5
Low
DCF Score
1 / 5
Low
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
3 / 5
Medium
P/E Score
1 / 5
Low
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Gambling, Resorts & Casinos: +5.3%
    +4.8% Q4'25: +2.9% (vs Q2'24)
  • EPS growth Gambling, Resorts & Casinos: +9.4%
    -62.5% Q4'25: +1,842.9% (vs Q2'24)
  • FCF margin FCF growth · Gambling, Resorts & Casinos: +17.3%
    +5.2% Q4'25: +9.7% (vs Q2'24)
  • EBIT margin Gambling, Resorts & Casinos: +17.5%
    +2.7% Q4'25: +2.6% (vs Q2'24)
  • ROIC Gambling, Resorts & Casinos: +8.0%
    Q4'25: -17.3% (vs Q2'24)
  • Share dilution Gambling, Resorts & Casinos: +0.3%
    -0.4% Q4'25: +1.7% (vs Q2'24)
  • Debt / EBITDA Net debt/EBITDA · Gambling, Resorts & Casinos: 0.94×
    0.62× Q4'25: 0.70× (vs Q2'24)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.44) × ERP
WACC = 99% × Ke + 1% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 31.65 Current price: 9.55
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
3 Rev. Ana.
1 EPS Ana.
Dec 2027
2 Rev. Ana.
1 EPS Ana.
Dec 2028
1 Rev. Ana.
1 EPS Ana.
Revenue
80.25M
est: 95.64M (-16.1%)
115.75M
est: 119.99M (-3.5%)
161.65M
est: 176.22M (-8.3%)
200.70M
est: 213.29M (-5.9%)
210.41M
est: 218.95M (-3.9%)
236.84M
228.28M – 245.39M
+8.2% YoY
251.59M
243.23M – 259.95M
+6.2% YoY
257.13M
247.43M – 267.32M
+2.2% YoY
EBITDA
-24.91M
est: -15.84M (-57.2%)
-30.22M
est: -19.88M (-52.0%)
-14.64M
est: 64.95M (-122.5%)
4.72M
est: 78.62M (-94.0%)
6.38M
est: 80.70M (-92.1%)
87.30M
84.14M – 90.45M
+8.2% YoY
92.73M
89.65M – 95.81M
+6.2% YoY
94.77M
91.20M – 98.53M
+2.2% YoY
EBIT
-25.63M
est: -16.39M (-56.3%)
-30.77M
est: -20.57M (-49.6%)
-14.75M
est: 65.11M (-122.7%)
4.33M
est: 78.81M (-94.5%)
5.74M
est: 80.90M (-92.9%)
87.51M
84.35M – 90.67M
+8.2% YoY
92.96M
89.87M – 96.05M
+6.2% YoY
95.01M
91.42M – 98.77M
+2.2% YoY
Net Income
-68.01M
est: -30.02M (-126.6%)
-46.38M
est: -43.07M (-7.7%)
-2.42M
3.91M
est: -2.29M (+270.4%)
1.29M
est: 1.15M (+12.7%)
16.76M
15.94M – 17.63M
+1,361.9% YoY
16.53M
15.72M – 17.39M
-1.4% YoY
22.05M
20.96M – 23.18M
+33.3% YoY
SGA
91.80M
est: 100.08M (-8.3%)
153.64M
est: 125.55M (+22.4%)
152.30M
est: 178.70M (-14.8%)
167.33M
est: 216.29M (-22.6%)
173.24M
est: 222.03M (-22.0%)
240.17M
231.49M – 248.85M
+8.2% YoY
255.14M
246.65M – 263.61M
+6.2% YoY
260.75M
250.92M – 271.08M
+2.2% YoY
EPS
-1.51
est: -0.65 (-131.7%)
-1.03
est: -0.93 (-10.2%)
-0.05
0.09
est: -0.05 (+271.8%)
0.03
est: 0.02 (+20.0%)
0.37
0.35 – 0.38
+1,361.9% YoY
0.36
0.34 – 0.38
-1.4% YoY
0.48
0.46 – 0.51
+33.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-11 C- 1/5 1/5 1/5 1/5 3/5 1/5 1/5
2026-05-08 C- 1/5 1/5 1/5 1/5 3/5 1/5 1/5
2026-05-07 C- 1/5 1/5 1/5 1/5 3/5 1/5 1/5
2026-05-06 C- 1/5 1/5 1/5 1/5 3/5 1/5 1/5
2026-05-05 C- 1/5 1/5 1/5 1/5 3/5 1/5 1/5
2026-05-04 C- 1/5 1/5 1/5 1/5 3/5 1/5 1/5
2026-05-01 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-30 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-29 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-28 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-27 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-24 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-23 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-22 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-21 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-20 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-17 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5
2026-04-16 C- 1/5 3/5 1/5 1/5 2/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
3.93M
OE per share TTM
0.08
Owner's Yield
0.88%
Maintenance CapEx ratio
0.03%
Maint CapEx / Avg PPE
0.5%

Ownership Overview

Ownership breakdown
At a glance
Institutional holders
6
Total invested
15.20M
Insider transactions (90d)
8
Beneficial owners (>5%)
9
Beneficial owners (>5%)
# Reporting person Amount owned % of class Sole voting Shared voting Sole dispositive Shared dispositive Type Citizenship Filing date SEC filing
1 New Topco S.A. 30.00M 66.50% 30.00M 30.00M OO Duchy of Luxembourg 2022-02-15
2 BAMCO INC /NY/000000000 4.04M 8.95% 4.04M 4.04M IA, CO New York 2023-02-14
3 Baron Capital Group, Inc.000000000 4.04M 8.95% 4.04M 4.04M HC, CO New York 2023-02-14
4 Ronald Baron000000000 4.04M 8.95% 4.04M 4.04M HC, IN New York 2023-02-14
5 Castle Creek Arbitrage, LLC 422.6K 0.93% 422.6K 422.6K IA Delaware 2022-02-11
6 Mr. Allan Weine 422.6K 0.93% 422.6K 422.6K IN United States 2022-02-11
7 CC ARB West, LLC 351.7K 0.77% 351.7K 351.7K PN USA 2022-02-11
8 CC Arbitrage, Ltd 71.0K 0.16% 71.0K 71.0K OO Cayman Islands 2022-02-11
9 Baron Capital Management, Inc.000000000 0.00% IA, CO New York 2023-02-14

Institutional Activity (13F)

Institutional ownership trend From To
13F snapshot — 2026 Q1
Investors holding
6
-8 vs prev Q
New positions
1
Closed positions
9
Increased
2
Reduced
3
Put/Call ratio
0.00
Calls held
Puts held
Top institutional holders
# Investor Shares / Δ Mkt value / Δ Own% / Δ Weight% / Δ Avg px / Perf. Hold / Status
1 BAMCO INC /NY/ 3.50M +— (+0.0%) 28.13M +4.0M (+16.4%) 7.70% +0.000 pp 0.08% +0.012 pp USD6.02 +33.4% 17 qtrs
2 FNY INVESTMENT ADVISERS, LLC 851.2K +180.2K (+26.8%) 6.83M +2.2M (+47.6%) 1.87% +0.396 pp 1.93% +0.441 pp USD7.37 +9.0% 8 qtrs
3 UBS GROUP AG 422.9K -90.0K (-17.5%) 3.40M -142.9K (-4.0%) 0.93% -0.198 pp 0.00% +0.000 pp USD7.00 +14.7% 8 qtrs
4 MMBG INVESTMENT ADVISORS CO. 366.3K +— (+0.0%) 2.94M +413.9K (+16.4%) 0.81% +0.000 pp 0.25% +0.024 pp USD3.94 +103.8% 16 qtrs
5 MORGAN STANLEY 151.2K -1.5K (-1.0%) 1.21M +160.6K (+15.2%) 0.33% -0.003 pp 0.00% +0.000 pp USD3.61 +122.4% 11 qtrs
6 EXCHANGE TRADED CONCEPTS, LLC 47.8K -4.4K (-8.5%) 383.9K +23.4K (+6.5%) 0.11% -0.010 pp 0.00% 0.000 pp USD6.54 +22.8% 5 qtrs
7 MILLENNIUM MANAGEMENT LLC 29.1K -28.6K (-49.5%) 234.0K -164.5K (-41.3%) 0.06% -0.063 pp 0.00% 0.000 pp USD7.82 +2.7% 7 qtrs
8 CITADEL ADVISORS LLC 26.4K -21.0K (-44.2%) 212.2K -114.8K (-35.1%) 0.06% -0.046 pp 0.00% +0.000 pp USD8.49 -5.4% 8 qtrs
9 BLACKROCK, INC. 19.7K -1.1K (-5.4%) 158.1K +14.6K (+10.1%) 0.04% -0.003 pp 0.00% +0.000 pp USD7.49 +7.2% 6 qtrs
10 SQUAREPOINT OPS LLC 18.3K -11.1K (-37.8%) 147.0K -56.2K (-27.7%) 0.04% -0.025 pp 0.00% +0.000 pp USD6.90 +16.4% 4 qtrs
11 GEODE CAPITAL MANAGEMENT, LLC 15.9K +— (+0.0%) 127.7K +18.0K (+16.4%) 0.04% +0.000 pp 0.00% +0.000 pp USD7.57 +6.1% 6 qtrs
12 RAYMOND JAMES FINANCIAL INC 11.0K +— (+0.0%) 88.3K +12.4K (+16.4%) 0.02% +0.000 pp 0.00% +0.000 pp USD6.49 +23.7% 5 qtrs
13 WOLVERINE ASSET MANAGEMENT LLC 7.3K +471.0 (+6.9%) 58.5K +11.5K (+24.4%) 0.02% +0.001 pp 0.00% +0.000 pp USD7.01 +14.6% 5 qtrs
14 BARCLAYS PLC 959.00 +311.0 (+48.0%) 7.7K +2.5K (+48.7%) 0.00% +0.001 pp 0.00% +0.000 pp USD7.38 +8.8% 6 qtrs
15 RENAISSANCE TECHNOLOGIES LLC -39.7K (-100.0%) -273.9K (-100.0%) 0.00% -0.087 pp 0.00% 0.000 pp USD 3 qtrs SOLD
16 SBI SECURITIES CO., LTD. -1.0 (-100.0%) -7.0 (-100.0%) 0.00% +0.000 pp 0.00% +0.000 pp USD 5 qtrs SOLD
17 LMR PARTNERS LLP -39.3K (-100.0%) -271.0K (-100.0%) 0.00% -0.086 pp 0.00% -0.001 pp USD 2 qtrs SOLD
18 SUSQUEHANNA INTERNATIONAL GROUP, LLP -13.1K (-100.0%) -90.1K (-100.0%) 0.00% -0.029 pp 0.00% +0.000 pp USD 2 qtrs SOLD
19 ADVISOR GROUP HOLDINGS, INC. -1.0K (-100.0%) -8.3K (-100.0%) 0.00% -0.002 pp 0.00% +0.000 pp USD 5 qtrs SOLD
20 BLAIR WILLIAM & CO/IL -26.9K (-100.0%) -185.9K (-100.0%) 0.00% -0.059 pp 0.00% -0.001 pp USD 17 qtrs SOLD
Ownership breakdown by holder

ETF Ownership

Top ETFs holding this stock Held by 1 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Roundhill Investments - Sports Betting & iGaming ETF BETZ 2.21% 1.13M 0.75%

Insider Activity

Insider Activity — Latest Quarter
Ratio by transactions
2.67
Bullish
Ratio by volume
3.00
Bullish
Buys
8
Sells
3
Shares acquired
134.0K
Shares disposed
9.1K
Cash buys
Cash sales
Net activity
+124,928
Insider buys vs sells (history) From To
Recent insider transactions From To
Date Person Role Transaction A/D Security Shares Price Value Owned after D/I Filing
2026-05-05 Telias Alberto Hernan Officer A-Award A Ordinary Shares 7,000 0.00 32,776 D
2026-05-05 Sher Aviv Officer A-Award A Ordinary Shares 30,000 0.00 74,732 D
2026-05-05 Shemesh Matan Officer A-Award A Ordinary Shares 7,000 0.00 24,515 D
2026-05-05 Rodriguez Robles Yaiza Maria Officer A-Award A Ordinary Shares 7,000 0.00 20,717 D
2026-05-05 Lopez Castano Amalia Officer A-Award A Ordinary Shares 6,000 0.00 21,280 D
2026-05-05 Guivisdalsky Deborah Frida Officer A-Award A Ordinary Shares 7,000 0.00 18,874 D
2026-05-05 Edree Moshe Director F-InKind D Ordinary Shares 6,591 8.72 57.5K 366,460 D
2026-05-05 Arildsson Marcus Kai Officer F-InKind D Ordinary Shares 1,327 8.72 11.6K 28,673 D
2026-03-18 Valdez Franco Daniel Director Ordinary Shares 0 0.00 25,000 I
2026-03-18 Telias Alberto Hernan Officer Ordinary Share Option (right to buy) 35,000 8.03 281.1K 0 D
2026-03-18 Teitgen Laurent Director 0 0.00 0
2026-03-18 Sher Aviv Officer Ordinary Share Option (right to buy) 85,000 8.03 682.6K 0 D
2026-03-18 Shemesh Matan Officer Ordinary Share Option (right to buy) 44,695 10.00 447.0K 0 D
2026-03-18 Saenz de Buruaga Perez-Acha Gabriel Director 0 0.00 0
2026-03-18 Rodriguez Robles Yaiza Maria Director / Officer Ordinary Share Option (right to buy) 35,000 8.03 281.1K 0 D
2026-03-18 Lopez Castano Amalia Officer Ordinary Share Option (right to buy) 30,000 8.03 240.9K 0 D
2026-03-18 Iglesias Sanchez Oscar Director Ordinary Shares 0 0.00 124,111 D
2026-03-18 Higuero Robles Luis Gonzaga Director 0 0.00 0
2026-03-18 Guivisdalsky Deborah Frida Officer Ordinary Share Option (right to buy) 35,000 8.03 281.1K 0 D
2026-03-18 Fernandez Espejel Francisco De Borja Director Ordinary Share Option (right to buy) 70,000 10.00 700.0K 0 D
2026-03-18 Edree Moshe Director Ordinary Share Option (right to buy) 110,000 8.03 883.3K 0 D
2026-03-18 Dumont Gaetan Bruno Director 0 0.00 0
2026-03-18 Arildsson Marcus Kai Officer Ordinary Share Option (right to buy) 50,000 8.03 401.5K 0 D

Executive team

Top executives
EBIT / Employee
19.3K
Shares Outstanding
45.56M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings
Filing date Form type Filing
2026-05-07 6-K
2026-05-07 4
2026-05-07 4
2026-05-07 4
2026-05-07 4
2026-05-07 4
2026-05-07 4
2026-05-07 4
2026-05-07 4
2026-05-05 S-8

Executive team

NameTitleCompensationGender
Alberto Telias Chief Marketing Officer male
Amalia López Chief Accounting Officer female
Aviv Sher Chief Executive Officer male
Deborah Guivisdalsky Chief Operating Officer female
Guillermo Lancha Director of Investor Relations male
Marcus Arildsson Chief Financial Officer male
Matan Shemesh Chief of Growth & Strategy male
Moshe Edree Executive Vice Chairman of the Board male
Yaiza Rodriguez General Counsel & Secretary of the Board female
ESG Rating
B
GAMBLING, RESORTS & CASINOS
Rank: 28 out of 39
2025
E (Environmental)
63.9 / 71.9
Company / Sector avg.
S (Social)
62.1 / 73.6
Company / Sector avg.
G (Governance)
59.3 / 68.9
Company / Sector avg.
ESG Total
61.7 / 71.5
Company / Sector avg.
ESG Score History GAMBLING, RESORTS & CASINOS
Benchmark vs Sector
Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits