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): $6.01Market Cap: $-Sector: Consumer DiscretionaryIndustry: 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
| Low stock price volatilityVol 12M is 42% |
| Low stock price volatilityVol 12M is 42% |
Market Valuation & Key Metrics
CDRO Stock
Return vs. Risk
Price Returns Compared
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| CDRO Return | - | - | -57% | 14% | 119% | -5% | 9% |
| Peers Return | 26% | 61% | -24% | 5% | 26% | -10% | 85% |
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 16% | 110% |
Monthly Win Rates [3] | |||||||
| CDRO Win Rate | - | 42% | 33% | 58% | 44% | ||
| Peers Win Rate | 50% | 52% | 38% | 45% | 57% | 56% | |
| S&P 500 Win Rate | 58% | 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
| Event | CDRO | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -75.5% | -25.4% |
| % Gain to Breakeven | 308.1% | 34.1% |
| Time to Breakeven | 809 days | 464 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.
Trade Ideas
Select past ideas related to CDRO. For more, see Trefis Trade Ideas.
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 09302025 | ANF | Abercrombie & Fitch | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -14.4% | -14.4% | -22.1% |
| 09302025 | DECK | Deckers Outdoor | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -17.3% | -17.3% | -17.3% |
| 09302025 | CHH | Choice Hotels International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -11.9% | -11.9% | -11.9% |
| 09302025 | VAC | Marriott Vacations Worldwide | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -0.0% | -0.0% | -6.1% |
| 09302025 | FUN | Six Flags Entertainment | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 4.5% | 4.5% | -11.7% |
| Date | Ticker | Company | Category | Trade Strategy | 6M Fwd Rtn | 12M Fwd Rtn | 12M Max DD |
|---|---|---|---|---|---|---|---|
| 09302025 | ANF | Abercrombie & Fitch | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -14.4% | -14.4% | -22.1% |
| 09302025 | DECK | Deckers Outdoor | Dip Buy | DB | FCFY OPMDip Buy with High FCF Yield and High MarginBuying dips for companies with high FCF yield and meaningfully high operating margin | -17.3% | -17.3% | -17.3% |
| 09302025 | CHH | Choice Hotels International | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -11.9% | -11.9% | -11.9% |
| 09302025 | VAC | Marriott Vacations Worldwide | Dip Buy | DB | P/E OPMDip Buy with Low PE and High MarginBuying dips for companies with tame PE and meaningfully high operating margin | -0.0% | -0.0% | -6.1% |
| 09302025 | FUN | Six Flags Entertainment | Special | Short Squeeze PotentialShort Squeeze PotentialHas potential for a short squeeze. High short interest, rising short interest and high debt. | 4.5% | 4.5% | -11.7% |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons for Codere Online Luxembourg
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 77.40 |
| Mkt Cap | 4.1 |
| Rev LTM | 1,712 |
| Op Inc LTM | 414 |
| FCF LTM | 194 |
| FCF 3Y Avg | 118 |
| CFO LTM | 484 |
| CFO 3Y Avg | 440 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 7.0% |
| Rev Chg 3Y Avg | 12.5% |
| Rev Chg Q | 3.4% |
| QoQ Delta Rev Chg LTM | 0.9% |
| Op Mgn LTM | 21.3% |
| Op Mgn 3Y Avg | 23.1% |
| QoQ Delta Op Mgn LTM | 0.0% |
| CFO/Rev LTM | 26.1% |
| CFO/Rev 3Y Avg | 26.3% |
| FCF/Rev LTM | 10.7% |
| FCF/Rev 3Y Avg | 9.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 4.1 |
| P/S | 2.1 |
| P/EBIT | 7.8 |
| P/E | 14.7 |
| P/CFO | 9.4 |
| Total Yield | 6.0% |
| Dividend Yield | 0.2% |
| FCF Yield 3Y Avg | 4.7% |
| D/E | 0.7 |
| Net D/E | 0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -11.3% |
| 3M Rtn | -12.6% |
| 6M Rtn | 10.4% |
| 12M Rtn | -22.6% |
| 3Y Rtn | 25.6% |
| 1M Excs Rtn | -12.7% |
| 3M Excs Rtn | -20.7% |
| 6M Excs Rtn | -11.3% |
| 12M Excs Rtn | -40.1% |
| 3Y Excs Rtn | -47.0% |
Segment Financials
Revenue by Segment
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Spain | 76 | 60 | 50 | ||
| Mexico | 73 | 46 | 25 | ||
| Supporting | 45 | 56 | 40 | ||
| Colombia | 9 | 7 | 4 | ||
| Other Operations | 4 | 3 | 1 | ||
| Eliminations | -45 | -56 | -39 | ||
| Casino wagering | 31 | 19 | |||
| Others | 0 | ||||
| Sports betting | 40 | 43 | |||
| Total | 162 | 116 | 80 | 70 | 62 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Spain | 13 | 6 | 1 | ||
| Eliminations | 0 | -0 | -36 | ||
| Colombia | -2 | -7 | -4 | ||
| Other Operations | -6 | -7 | -2 | ||
| Supporting | -9 | -17 | -18 | ||
| Mexico | -12 | -30 | -12 | ||
| Total | -15 | -56 | -71 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Eliminations | 250 | 42 | -36 | ||
| Spain | 13 | 6 | 1 | ||
| Colombia | -2 | -8 | -4 | ||
| Other Operations | -5 | -6 | -2 | ||
| Mexico | -10 | -29 | -12 | ||
| Supporting | -248 | -52 | -16 | ||
| Total | -2 | -46 | -68 |
| $ Mil | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|
| Supporting | 290 | ||||
| Spain | 57 | ||||
| Mexico | 11 | ||||
| Other Operations | 5 | ||||
| Colombia | 4 | ||||
| Eliminations | -293 | ||||
| Total | 74 |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 12312024 | 6022025 | 20-F 12/31/2024 |
| 6302024 | 12302024 | 6-K 6/30/2024 |
| 12312023 | 5012025 | 20-F 12/31/2023 |
| 6302023 | 11142023 | 6-K 6/30/2023 |
| 12312022 | 4282023 | 20-F 12/31/2022 |
| 6302022 | 10032022 | 6-K 6/30/2022 |
| 12312021 | 4292022 | 20-F 12/31/2021 |
External Quote Links
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| SeekingAlpha | ValueLine |
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| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |