Tearsheet

Codere Online Luxembourg (CDRO)


Market Price (10/31/2025): $6.01 | Market Cap: $-
Sector: Consumer Discretionary | Industry: Casinos & Gaming

Codere Online Luxembourg (CDRO)


Market Price (10/31/2025): $6.01
Market Cap: $-
Sector: Consumer Discretionary
Industry: Casinos & Gaming

Investment Highlights Why It Matters Which of these 2 stories sounds closer for this stock?

1. Generates cash flow

The stock generated 4% or more of the share price (called cash flow yield), and shows moderate 10-15% or more growth.

2. Riding a trend

Think Tesla during the pandemic of 2020 when EVs were riding a cultural high, or Nvidia in the current AI boom, or even Figma. These companies don’t have enough yield, or, enough growth, or both - however - they are riding a trend. They have momentum. These can be more volatile - they don’t have the floor of strong cash flow


0 Low stock price volatility
Vol 12M is 42%
  
0 Low stock price volatility
Vol 12M is 42%

Market Valuation & Key Metrics

CDRO Stock


Return vs. Risk


Price Returns Compared

 202020212022202320242025Total [1]
Returns
CDRO Return---57%14%119%-5%9%
Peers Return26%61%-24%5%26%-10%85%
S&P 500 Return16%27%-19%24%23%16%110%

Monthly Win Rates [3]
CDRO Win Rate- 42%33%58%44% 
Peers Win Rate50%52%38%45%57%56% 
S&P 500 Win Rate58%75%42%67%75%67% 

Max Drawdowns [4]
CDRO Max Drawdown---65%-8%0%-6% 
Peers Max Drawdown-57%-6%-41%-16%-14%-21% 
S&P 500 Max Drawdown-31%-1%-25%-1%-2%-15% 


[1] Cumulative total returns since the beginning of 2020
[2] Peers: CHDN, BYD, MCRI, FLL, CDRO.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2025 data is for the year up to 10/30/2025 (YTD)

How Low Can It Go

Unique KeyEventCDROS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-75.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven308.1%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven809 days464 days

Compare to CHDN, BYD, MCRI, FLL, CDRO


In The Past

Codere Online Luxembourg's stock fell -75.5% during the 2022 Inflation Shock from a high on 12/2/2021. A -75.5% loss requires a 308.1% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Codere Online Luxembourg (CDRO)

Trade Ideas

Select past ideas related to CDRO. For more, see Trefis Trade Ideas.

Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-14.4%-14.4%-22.1%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-17.3%-17.3%-17.3%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-11.9%-11.9%-11.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-0.0%-0.0%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
4.5%4.5%-11.7%
Unique KeyDateTickerCompanyCategoryTrade Strategy6M Fwd Rtn12M Fwd Rtn12M Max DD
ANF_9302025_Dip_Buyer_FCFYield09302025ANFAbercrombie & FitchDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-14.4%-14.4%-22.1%
DECK_9302025_Dip_Buyer_FCFYield09302025DECKDeckers OutdoorDip BuyDB | FCFY OPMDip Buy with High FCF Yield and High Margin
Buying dips for companies with high FCF yield and meaningfully high operating margin
-17.3%-17.3%-17.3%
CHH_9302025_Dip_Buyer_ValueBuy09302025CHHChoice Hotels InternationalDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-11.9%-11.9%-11.9%
VAC_9302025_Dip_Buyer_ValueBuy09302025VACMarriott Vacations WorldwideDip BuyDB | P/E OPMDip Buy with Low PE and High Margin
Buying dips for companies with tame PE and meaningfully high operating margin
-0.0%-0.0%-6.1%
FUN_9302025_Short_Squeeze09302025FUNSix Flags EntertainmentSpecialShort Squeeze PotentialShort Squeeze Potential
Has potential for a short squeeze. High short interest, rising short interest and high debt.
4.5%4.5%-11.7%

Recent Active Movers

Recent Active Movers

More From Trefis

Peer Comparisons for Codere Online Luxembourg

Financials

CDROCHDNBYDMCRIFLLMedian
NameCodere O.Churchil.Boyd Gam.Monarch .Full Hou. 
Mkt Price6.12100.4077.4089.702.4377.40
Mkt Cap-7.16.61.60.14.1
Rev LTM-2,8843,9615402981,712
Op Inc LTM-7259411020414
FCF LTM-265482122-18194
FCF 3Y Avg-124568113-110118
CFO LTM-8049631647484
CFO 3Y Avg-72295715812440

Growth & Margins

CDROCHDNBYDMCRIFLLMedian
NameCodere O.Churchil.Boyd Gam.Monarch .Full Hou. 
Rev Chg LTM-8.0%6.1%4.6%8.2%7.0%
Rev Chg 3Y Avg-20.2%4.5%4.8%20.5%12.5%
Rev Chg Q-8.7%3.2%3.6%0.6%3.4%
QoQ Delta Rev Chg LTM-1.9%0.8%0.9%0.2%0.9%
Op Mgn LTM-25.1%23.7%19.0%0.0%21.3%
Op Mgn 3Y Avg-25.0%26.1%21.3%3.7%23.1%
QoQ Delta Op Mgn LTM-0.2%-0.1%0.4%-1.1%0.0%
CFO/Rev LTM-27.9%24.3%30.5%2.2%26.1%
CFO/Rev 3Y Avg-27.2%25.3%30.6%4.3%26.3%
FCF/Rev LTM-9.2%12.2%22.7%-6.2%10.7%
FCF/Rev 3Y Avg-4.3%15.1%21.9%-53.8%9.7%

Valuation

CDROCHDNBYDMCRIFLLMedian
NameCodere O.Churchil.Boyd Gam.Monarch .Full Hou. 
Mkt Cap-7.16.61.60.14.1
P/S-2.41.73.00.32.1
P/EBIT-8.57.216.0-91.97.8
P/E-17.511.919.9-2.114.7
P/CFO-8.86.810.013.49.4
Total Yield-5.7%8.9%6.4%-46.7%6.0%
Dividend Yield-0.0%0.5%1.3%0.0%0.2%
FCF Yield 3Y Avg-1.6%8.9%7.7%-52.8%4.7%
D/E-0.70.60.06.00.7
Net D/E-0.70.6-0.15.60.6

Returns

CDROCHDNBYDMCRIFLLMedian
NameCodere O.Churchil.Boyd Gam.Monarch .Full Hou. 
1M Rtn-11.3%3.5%-10.5%-15.2%-24.3%-11.3%
3M Rtn-27.1%-6.2%-8.6%-12.6%-46.9%-12.6%
6M Rtn-15.9%10.4%12.4%15.5%-24.3%10.4%
12M Rtn-22.6%-30.1%11.0%14.2%-53.3%-22.6%
3Y Rtn126.2%-2.5%38.2%25.6%-65.3%25.6%
1M Excs Rtn-10.4%2.3%-12.7%-16.7%-24.5%-12.7%
3M Excs Rtn-35.3%-15.0%-16.6%-20.7%-54.4%-20.7%
6M Excs Rtn-37.7%-11.3%-9.3%-6.3%-46.0%-11.3%
12M Excs Rtn-40.1%-45.8%-8.1%-2.3%-68.6%-40.1%
3Y Excs Rtn47.4%-79.4%-31.1%-47.0%-137.9%-47.0%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Spain766050  
Mexico734625  
Supporting455640  
Colombia974  
Other Operations431  
Eliminations-45-56-39  
Casino wagering   3119
Others   0 
Sports betting   4043
Total162116807062


Operating Income by Segment
$ Mil20242023202220212020
Spain1361  
Eliminations0-0-36  
Colombia-2-7-4  
Other Operations-6-7-2  
Supporting-9-17-18  
Mexico-12-30-12  
Total-15-56-71  


Net Income by Segment
$ Mil20242023202220212020
Eliminations25042-36  
Spain1361  
Colombia-2-8-4  
Other Operations-5-6-2  
Mexico-10-29-12  
Supporting-248-52-16  
Total-2-46-68  


Assets by Segment
$ Mil20242023202220212020
Supporting290    
Spain57    
Mexico11    
Other Operations5    
Colombia4    
Eliminations-293    
Total74    


Short Interest

Short Interest: As Of Date10152025
Short Interest: Shares Quantity247,345
Short Interest: % Change Since 9302025-12.3%
Average Daily Volume58,099
Days-to-Cover Short Interest4.26

SEC Filings

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Report DateFiling DateFiling
12312024602202520-F 12/31/2024
6302024123020246-K 6/30/2024
12312023501202520-F 12/31/2023
6302023111420236-K 6/30/2023
12312022428202320-F 12/31/2022
6302022100320226-K 6/30/2022
12312021429202220-F 12/31/2021

Insider Activity

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