Codere Online Luxembourg, S.a. key statistics and ratios

In fiscal 2025, Codere Online Luxembourg, S.a. had return on equity of 5.0%, an operating margin of 2.7%, debt equal to 0.0% of equity and a current ratio of 1.37. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Codere Online Luxembourg, S.a.: financial ratios, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	0.0%	0.0%	72.0%	—	82.1%	84.1%	—
Operating margin	−25.8%	−20.2%	−88.5%	−48.3%	−9.1%	2.2%	2.7%
Net margin	−26.1%	−23.1%	−84.8%	−40.1%	−1.5%	1.9%	0.6%
Return on equity	—	—	—	−94.8%	−10.6%	17.5%	5.0%
Return on assets	—	−81.9%	−113.5%	−50.6%	−3.4%	5.3%	1.7%
Asset turnover	—	3.55	1.34	1.26	2.24	2.74	2.77
Current ratio	—	0.47	3.31	1.60	1.25	1.40	1.37
Debt to equity	—	—	—	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	—	—	—	—	—	41.2x	30.5x
Effective tax rate	0.3%	—	—	—	—	27.2%	60.9%
Capital spending as % of revenue	0.1%	0.1%	0.1%	0.1%	0.2%	0.1%	0.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 2 checks passed · December 31, 2025

What it owns · $95m

Short-term assets $79mLonger-term assets $16m

What it owes, and who funded it · $91m

Short-term liabilities $58mShareholders' equity $34m

Short-term assets cover short-term liabilities $79m of assets due within a year against $58m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of $6m against $212,557 of interest.

From Codere Online Luxembourg, S.a.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Codere Online Luxembourg, S.a.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Codere Online Luxembourg, S.a.