Codere Online (CDRO) AI Stock Analysis

• Market Cap: $259.70M
• Dividend Yield: N/A
• Average Volume (3M): 53.31K
• Price to Earnings (P/E): 413.1
• Beta (1Y): 0.86
• Revenue Growth: N/A
• EPS Growth: N/A
• Country: US
• Employees: 297
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): -0.06
• Shares Outstanding: 45,640,816
• 10 Day Avg. Volume: 43,837
• 30 Day Avg. Volume: 53,312
• PEG Ratio: -0.28
• Price to Book (P/B): 11.77
• Price to Sales (P/S): 1.41
• P/FCF Ratio: 76.84
• Enterprise Value/Market Cap: 1.26
• Enterprise Value/Revenue: 1.63
• Enterprise Value/Gross Profit: 1.80
• Enterprise Value/Ebitda: 73.32
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): 0.09
• Revenue Forecast (FY): $258.29M

• Rating: 52 Neutral
• Price Target: $5.50 ▼(-9.69% Downside)

Codere Online's overall stock score is driven by its solid financial performance and positive earnings call sentiment. However, technical indicators suggest bearish momentum, and the stock appears overvalued, which weighs down the overall score.

Positive Factors

Revenue Growth

Strong revenue growth reflects successful market expansion and increased user engagement, supporting long-term business sustainability.

Customer Acquisition

Successful customer acquisition strategies indicate effective marketing and brand strength, crucial for sustained growth in competitive markets.

Cash Generation

Strong cash generation enhances financial flexibility, allowing for reinvestment in growth opportunities and debt reduction.

Negative Factors

Currency Devaluation Impact

Currency devaluation in key markets like Mexico poses a risk to revenue stability, affecting profitability and financial projections.

Increased Competition

Increased competition in Spain could pressure margins and customer retention, challenging market share and growth prospects.

Leadership Transition

Leadership changes can create uncertainty and disrupt strategic continuity, impacting long-term planning and execution.

Codere Online Business Overview & Revenue Model

Company Description

Codere Online (CDRO) is a prominent online gaming and sports betting company that operates primarily in the Latin American and European markets. The company is a subsidiary of Codere Group, which has a long history in the gaming industry. Codere Online offers a wide range of products, including online casino games, sports betting, and virtual gaming, leveraging advanced technology to enhance user experience and engagement.

How the Company Makes Money

Codere Online generates revenue primarily through its online sports betting and casino gaming platforms. The company earns money by taking a percentage of the bets placed on its platform, known as the 'hold,' which can vary depending on the type of game or wager. Additionally, Codere Online benefits from player deposits and ongoing play, as they charge fees for transactions and offer premium features. The company also engages in strategic partnerships with payment providers and other technology firms to enhance its services, which can help attract more users and increase earnings. Furthermore, marketing initiatives aimed at acquiring new customers play a crucial role in driving revenue growth.

Codere Online Financial Statement Overview

Summary

Codere Online shows a positive trajectory with strong revenue growth and improved profitability metrics. The balance sheet is stable with low leverage and strong cash reserves, though profitability margins need improvement.

Income Statement

Codere Online has shown a significant improvement in its income statement over the past year. The gross profit margin is strong at approximately 96.14%, and the net profit margin has turned positive to 1.95% from a previous negative position, highlighting improved operational efficiency. Revenue growth was robust, with a 24.1% increase from the previous year, indicating a successful expansion strategy. However, EBIT and EBITDA margins remain low at 2.16% and 2.35% respectively, suggesting room for improvement in operational leverage.

Balance Sheet

The balance sheet of Codere Online indicates a moderate financial position with a debt-to-equity ratio of 0.22, reflecting a relatively low level of leverage, which is positive. The equity ratio stands at 32.29%, showing a fair proportion of equity financing. Return on equity is healthy at 16.23%, but the overall equity base is small, which could limit growth opportunities. The company has improved its net debt position, with significant cash reserves, which enhances financial stability.

Cash Flow

Codere Online's cash flow statement reveals strong free cash flow growth from the previous year. The operating cash flow to net income ratio is 1.01, indicating that the company efficiently converts its net income into cash. Free cash flow to net income ratio is 0.94, showing strong cash generation relative to earnings. With positive free cash flow, the company is well-positioned to reinvest in its operations or reduce debt.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	200.70M	161.65M	115.75M	80.25M	70.50M
Gross Profit	192.97M	155.37M	110.90M	73.17M	65.34M
EBITDA	4.72M	-14.64M	-30.22M	-65.77M	-13.15M
Net Income	3.91M	-2.42M	-46.38M	-68.01M	-16.28M
Balance Sheet
Total Assets	74.54M	73.80M	69.31M	105.28M	18.55M
Cash, Cash Equivalents and Short-Term Investments	53.80M	51.68M	60.58M	98.81M	15.66M
Total Debt	5.37M	5.11M	4.95M	2.98M	39.23M
Total Liabilities	50.32M	52.51M	44.76M	37.12M	58.47M
Stockholders Equity	24.07M	21.14M	24.40M	68.01M	-40.02M
Cash Flow
Free Cash Flow	3.69M	-11.82M	-42.52M	-5.27M	3.80M
Operating Cash Flow	3.94M	-11.58M	-42.36M	-5.19M	3.86M
Investing Cash Flow	-256.00K	-245.00K	-164.00K	-83.00K	-72.00K
Financing Cash Flow	-2.04M	1.33M	0.00	89.33M	254.00K

Codere Online Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.09
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CDRO, the sentiment is Negative. The current price of 6.09 is below the 20-day moving average (MA) of 6.31, below the 50-day MA of 6.92, and below the 200-day MA of 7.46, indicating a bearish trend. The MACD of -0.32 indicates Positive momentum. The RSI at 22.53 is Positive, neither overbought nor oversold. The STOCH value of 5.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CDRO.

Codere Online Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
GAMB	69 Neutral	$236.76M	16.33	10.86%	―	27.57%	-40.98%
RSI	67 Neutral	$3.81B	66.07	29.67%	―	23.15%	―
INSE	64 Neutral	$218.33M	4.08	―	―	4.03%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
BALY	54 Neutral	$840.98M	―	-113.09%	―	-1.10%	-1.69%
CDRO	52 Neutral	$259.70M	413.14	2.77%	―	―	―
GDEN	52 Neutral	$746.03M	152.76	1.15%	3.42%	-12.25%	-84.89%

Codere Online Corporate Events

Codere Online to Announce Q3 2025 Financial Results on November 17

Codere Online announced on October 28, 2025, that it will release its financial results for the third quarter of 2025 on November 17, 2025. The company will hold a conference call on the same day to discuss the results and provide a business update. This announcement is significant as it provides stakeholders with insights into the company’s financial health and strategic direction, potentially impacting its market positioning and investor confidence.

Codere Online CFO Transition Announced Amid Strategic Continuity

On August 28, 2025, Codere Online’s Chief Financial Officer, Oscar Iglesias, announced his decision to step down for personal reasons, effective by December 31, 2025, or upon the appointment of his successor. Despite stepping down, Iglesias will remain involved with the company as a board member, continuing to influence its strategic direction. His departure is not due to any disagreements with the company, and he has been a key figure in Codere Online’s growth, notably leading its public listing in 2021. The company has initiated a search for a new CFO to ensure a smooth transition.