Company Analysis

Codere Online Luxembourg, S.A. (CDRO)

Nasdaq: CDRO · Services-Miscellaneous Amusement & Recreation · Luxembourg, LU · filing with the SEC since 2021
Grade6.7
◀ Past 5.8● Present 6.5▶ Future 8.0
2 est.

The grade of Codere Online Luxembourg, S.A.

Nine metrics read from its own filings, by tense
Headline grade
6.7/10
◀ Past5.830% of the headline
● Present6.540% of the headline
▶ Future8.030% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

5.8/1030% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed
4.8/10

Has it survived what it has been through?

2 warning events since 2021; the latest 2025-05-01.

weight 33% of this tense · 48th percentile among 22 sector filers · read for itself

From the record

Codere Online Luxembourg, S.A.'s filings since 2021 show 2 warning events: a late-report notice (Form NT 10-K or NT 10-Q, 2 times, the latest 2025-05-01) (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed
6.8/10

What has it actually done, year after year?

+26.6% a year over 6 filed years; profitable in 1 of 6.

weight 45% of this tense · 68th percentile among 20 sector filers · read for its customers

From the record

Codere Online Luxembourg, S.A.'s 6 filed years say what it did: revenue went from EUR 62 million in fiscal 2019 to EUR 201 million in fiscal 2024, up 26.6% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 1 of 6 of those years (its annual reports).

What it rests on

  • revenue growth over the filed span26.6%top 27% of its family
  • the share of years revenue rosetop 12% of its family
  • the share of filed years with a profitbottom 25% of its family
  • the deepest fall from a revenue peak0.0%top 12% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate
5.2/10

How has it treated the people who own it?

SI estimate 5.2/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 16 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 16 members with one.
What the record cannot read
Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned
family median, 16 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Codere Online Luxembourg, S.A.'s shareholder treatment is put at 5.2 of 10 with a confidence of 20 of 100, because fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 16 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

● Present

What are they doing right now?

6.5/1040% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed
7.3/10

Is it financially healthy right now?

ROE 16%: 16¢ of profit per shareholder dollar. Leverage 68%: owes 68¢ per asset dollar.

weight 33% of this tense · 73rd percentile among 19 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2024-12-31, Codere Online Luxembourg, S.A. earned about 16 cents of profit for every dollar of shareholders' money, and gross profitability: its products earned about 226 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 68 cents per dollar of assets (the filed statements).

What it rests on

  • what it owes per dollar of assetstop 40% of its family
  • return on equitytop 34% of its family
  • gross profit against assetstop 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed
7.3/10

How strong is its position in its industry?

top 27% of 20 in its family; net margin 1.9%.

weight 45% of this tense · 73rd percentile among 20 sector filers · read for its customers

From the record

Codere Online Luxembourg, S.A.'s standing among 20 graded names in its industry family: revenue of EUR 201 million in fiscal 2024 is not ranked by size, since the family reports in another currency; a net margin of 1.9% ranks in the top 47%; revenue growth of 35.7% a year over the last 3 filed years ranks in the top 7% (its annual reports).

What it rests on

  • net margin1.9%top 47% of its family
  • three-year revenue growth35.7%top 7% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate
3.8/10

What are the people in charge doing?

SI estimate 3.8/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 13 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 13 members with one.
What the record cannot read
It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned
family median, 13 readings behind it.
Confidence
20 of 100
What would change it
Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Codere Online Luxembourg, S.A.'s leadership is put at 3.8 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-18 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 13 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

8.0/1030% of the headline grade · 3 of 3 filed

Room to expand

as filed
8.7/10

How much room does it have to grow?

top 13% of 20 in its family for room to expand.

weight 22% of this tense · 87th percentile among 20 sector filers · read for itself

From the record

Codere Online Luxembourg, S.A.'s room to grow, from the newest filed statements (fiscal 2024): cash of EUR 40 million against no long-term debt tagged leaves 54.1% of its assets as net cash, top 7% of its family; a gross margin of 84.1% (top 19%) (its annual report).

What it rests on

  • cash less debt against assets54.1%top 7% of its family
  • gross margin84.1%top 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed
8.7/10

What could actually drive growth from here?

top 13% of 20 in its family for growth drivers.

weight 45% of this tense · 87th percentile among 20 sector filers · read for its customers

From the record

Codere Online Luxembourg, S.A.'s growth drivers, from the filed years to fiscal 2024: revenue grew 35.7% a year over the last three filed years against 26.6% over all 6, speeding up (top 7% of its family); the newest year grew 24.1% (top 17%); capital spending grew 47.3% a year (top 14%) (its annual reports). Codere Online Luxembourg, S.A. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

  • three-year growth against the whole span+9.1 points a yeartop 7% of its family
  • the newest year's revenue growth24.1%top 17% of its family
  • three-year growth of capital spending47.3%top 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed
6.6/10

Did its newest year beat what its own record pointed to?

top 34% of 18 in its family for expectations against reality.

weight 33% of this tense · 66th percentile among 18 sector filers · read for its shareholders

From the record

Codere Online Luxembourg, S.A.'s newest year against its own record: revenue of EUR 201 million in fiscal 2024 came in 12.5% below the EUR 229 million its prior three years' pace pointed to (bottom 25% of its family); net income of EUR 4 million against a prior three-year average of EUR 39 million (top 14%); a net margin of 1.9% against -42.1% before (top 14%) (its annual reports).

What it rests on

  • revenue against the prior three years' pace-12.5%bottom 25% of its family
  • net income against the prior three years' average+110%top 14% of its family
  • net margin against its prior average+44.1 pointstop 14% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton CDRO · research, not advice