Codere Online Luxembourg S.A. Ordinary Shares (CDRO)

FairStock Score: 29/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

Looking at Codere Online, I see a small online casino and sports betting operator in Spain, Mexico, and other markets. At $9.40 on 2026-10-13, the market values it at $398.6 million. The FairStock calculations show a P/E of 313.33 and P/B of 13.06, so investors are paying a very high price for very little current profit and book value. The Graham Number is only $0.65, producing a margin of safety of -1346.15%; that is the opposite of a Graham bargain. Returns are modest: ROE 4.89% and ROCE 4.61%, below what I would want from a durable franchise. The balance sheet looks conservative with D/E of 0.14, and the Altman Z-Score of 2.33 is in the grey zone rather than distress. But the Piotroski F-Score is 2/9, a weak signal on financial strength and momentum. The company has no dividend, no supplied revenue or profit growth figures, and the Lynch classification is none because only 0 years of filed annual results are available; I cannot judge a multi-year growth trajectory from the data given. FairStock's score is 29/100. A low beta of 0.44 and a 52-week range of $5.18 to $10.26 tell us the shares have moved, but not that the business is proven. Betting is competitive and regulated; a brand and online apps can be copied, and scale matters. Without evidence of rising returns on capital, this looks like a speculative price for a business with unproven economics. I would need several years of filed results and improving returns before calling it a value opportunity.

In plain English: Codere Online runs online casino games and sports betting in Spain, Mexico and other places. The business looks weak so far: it earns very little compared with its share price and has only a short record. At $9.40, the stock looks expensive for a company earning so little.

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Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer