Codere Online US Corp (CDRO) fair value: what the stock is really worth
We calculate from audited financials what Codere Online US Corp is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
Structural break:
The valuation model sees a lasting decline in earnings power for this stock, the confidence band is broken. Treat the target with caution.
Stretched ValuationStrong overvaluation with only moderate quality.
!Fair value $1.02 · Strongly overvalued (−89%)
!Quality 64/100
✓Healthy Growth(revenue 5y +24.4 %/yr)
!Thin margins · 0.6% net margin (TTM)
✓Low debt · generates free cash flow
!Trails peers(4/13)
!Narrow moat26/100
!Evidence only low, so the estimate is less certain
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.
How to read this chart
60‑month range $2.10 – $10.20 · fair‑value band $0.7100 – $1.32 · the $9.32 price screens above the $1.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 13, 2026.
Codere Online Luxembourg, S.A., together with its subsidiaries, operates as an online casino gaming and sports betting company in Spain, Mexico, and internationally.
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Codere Online Luxembourg, S.A., together with its subsidiaries, operates as an online casino gaming and sports betting company in Spain, Mexico, and internationally. It offers online casino games available in land-based casinos, gaming halls, and gambling establishments, such as slot machines, table games, and bingo, as well as online casino through its website and mobile applications; and online sports betting and other bets under the Codere brand. Codere Online Luxembourg, S.A. is headquartered in Luxembourg, Luxembourg.
Stock analysis
Codere Online US Corp (CDRO) currently trades at $9.32, while our model-based Fair Value estimate is $1.02, implying the stock looks roughly 814.1% overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of $5.18 per share, and 0 of the 24 models we run sit above the $9.32 price.
Bear case: the Asset-Based group reads lowest at $0.4200, and 24 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: $0.7100 (bear) to $1.32 (bull), the price of $9.32 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 64/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Codere Online US Corp reported revenue of €210M in FY2025 versus €80.3M in FY2021, a compound +27.2%/yr. Reported net income was €1.3M in FY2025.
Key figures
Market cap $428M · P/E ratio 233.0 · P/S ratio 1.43 · EPS (TTM) $0.0400 · Net margin 0.6% · Return on equity 4.9% · Return on assets (EBIT) −31.0% · Operating margin 2.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 32 out of 100 (low confidence).
What moves the price
The share trades about 9% below its 52-week high and 80% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at 10% fair-value upside, at −89%, CDRO screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely ($0.4200 to $8.73). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear $0.7100Fair Value $1.02Bull $1.32
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2025 figures (about 8 months old). Earnings retained since then ($0.0282 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.85/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.8%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+24.4%
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+22.7%
’19
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’22
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Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−20.2% (2020) → 2.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+12.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.5%
Yearly sales growth analysts expect, extended to five years.
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Gambling · 55 stocks
Beats the industry median on 4/13 measures
Overall it trails its industry peers.
Valuation
Quality Score64 · Above median
Fair Value upside−92% · Bottom 25%
Profitability
Return on equity (TTM)5% · Below median
Return on assets5% · Above median
Net margin (TTM)1% · Below median
Operating margin (TTM)3% · Below median
Growth and dividend
Revenue growth7% · Above median
Balance sheet
Debt / equity0.03× · Below median
Valuation Multiplesvs Gambling median · lower = cheaper
P/E (TTM)233.0× · Priciest 25%
P/B15.67× · Priciest 25%
P/S (TTM)2.13× · Pricier than median
P/FCF27.2× · Priciest 25%
EV/EBITDA68.0× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 47
FUTURE (revenue growth)33· sector 10
PAST (return on equity)20· sector 26
HEALTH (low debt)99· sector 92
DIVIDEND (yield)0· sector 67
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "Codere Online US Corp Fair Value". https://www.fairvalue-calculator.com/stock/CDRO
Frequently asked questions
Is Codere Online US Corp (CDRO) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of $1.02 versus a price of $9.32, about −89% upside (overvalued).
What is the fair value of CDRO?
Our model-based fair value for Codere Online US Corp is $1.02 (as of Sep 13, 2026), built from audited fundamentals. The current price: $9.32.
What is the quality score of CDRO?
Codere Online US Corp has a Quality Score of 64/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Codere Online US Corp (CDRO)?
Our model-based price target is the fair value of $1.02 (as of Sep 13, 2026) from 24 valuation models. Cautious scenario $0.7100, optimistic scenario $1.32. It is a calculation from audited fundamentals, not an analyst target.
What is the Codere Online US Corp stock forecast for 2026?
Our models put fair value at $1.02, about −89% upside versus a price of $9.32 (overvalued). Cautious scenario $0.7100, optimistic scenario $1.32. The calculation is refreshed regularly with new filings.
What is the revenue of Codere Online US Corp (CDRO)?
Codere Online US Corp reported trailing-twelve-month revenue of about $210M (latest available figure, as of Sep 13, 2026).
What growth is priced into Codere Online US Corp (CDRO)?
For today's price to be fair in a discounted-cash-flow model, Codere Online US Corp would have to grow free cash flow by +12.1 % per year for five years (discount rate 9.8 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +24.5 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of CDRO use?
Our models discount Codere Online US Corp at 9.8 %: a base by market capitalisation (small), damped by beta 0.44, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Codere Online US Corp that is +12.1 % per year a year over ten years, using the same discount rate (9.8 %) and the same formula as our fair value.
How much growth has Codere Online US Corp (CDRO) delivered so far?
Over the past 5 years revenue at Codere Online US Corp grew +24.5 % a year. The price currently implies +12.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Codere Online US Corp (CDRO) growing?
The median revenue growth in the sector is +2.6 % a year. That is the yardstick for the growth priced into Codere Online US Corp (+12.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Codere Online US Corp (CDRO)?
The free-cash-flow yield on the price is 3.84 %: that much free cash flow Codere Online US Corp produces per unit of market value. When it exceeds the discount rate of our models (9.8 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Codere Online US Corp (CDRO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Codere Online US Corp it is $1.02 per share (as of Sep 13, 2026), against a price of $9.32. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is Codere Online US Corp stock overvalued or undervalued in 2026?
As of Sep 13, 2026, CDRO trades above its calculated fair value: price $9.32, fair value $1.02, a gap of about −89% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of CDRO?
No. The price is what the market pays today ($9.32); the fair value is what the company's own numbers justify ($1.02). For Codere Online US Corp the two are $8.30 per share apart. That gap is exactly why we show both numbers side by side.
How much is Codere Online US Corp worth?
The market values Codere Online US Corp at about $428M (market capitalisation, as of Sep 13, 2026). Per share that is $9.32; our models calculate a fair value of $1.02 per share.
What do the bullish and bearish scenarios say about CDRO?
Our models span a range for Codere Online US Corp: cautious scenario $0.7100, base $1.02, optimistic $1.32 per share (as of Sep 13, 2026, price $9.32). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of CDRO?
Codere Online US Corp trades at a price-to-earnings ratio of 233.0 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of $1.02 is built from several models across several years. Other multiples: P/B 15.7, P/S 2.1, EV/EBITDA 68.0.
How solid is the balance sheet of Codere Online US Corp (CDRO)?
Balance-sheet figures for Codere Online US Corp (as of Sep 13, 2026): return on equity 4.9%, debt of 0.03 per unit of equity. They feed the Quality Score of 64/100, which measures business quality independently of the share price.
How far is CDRO from its 52-week high?
Codere Online US Corp trades at $9.32, about 9% below its 52-week high of $10.26 and 80% above the low of $5.18 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of $1.02 is for.
Which stocks are comparable to Codere Online US Corp?
From the same area (Consumer Cyclical) we also value Flutter Entertainment plc, Evolution AB, The Lottery Corporation, Rush Street Interactive, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Codere Online US Corp stock attractive at the current price?
The data as of Sep 13, 2026: price $9.32, calculated fair value $1.02 (−89%), Quality Score 64/100, from 24 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of CDRO calculated?
We run Codere Online US Corp through 24 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $1.02, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.8 % above its aggregate fair value. Codere Online US Corp itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What should I pay attention to with Codere Online US Corp right now?
The price sits above even our optimistic bull case ($1.32). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (64/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range ($0.7100 to $1.32) leaves room in how you read the outcome.
Key figures of Codere Online US Corp
How large is the market capitalisation of Codere Online US Corp (CDRO)?
The market capitalisation of Codere Online US Corp is $428M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Codere Online US Corp (CDRO)?
The price-to-sales ratio of Codere Online US Corp is 1.43 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Codere Online US Corp (CDRO)?
Earnings per share at Codere Online US Corp are $0.0400 (price ÷ EPS = P/E 233.0). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Codere Online US Corp (CDRO)?
The net margin of Codere Online US Corp is 0.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Codere Online US Corp (CDRO)?
The return on equity (ROE) of Codere Online US Corp is 4.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Codere Online US Corp (CDRO)?
On an EBIT basis the return on assets of Codere Online US Corp is −31.0% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Codere Online US Corp (CDRO)?
The operating margin of Codere Online US Corp is 2.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Codere Online US Corp (CDRO)?
Revenue at Codere Online US Corp is growing +6.6% versus a year earlier (3y avg +22.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Codere Online US Corp (CDRO)?
Earnings per share at Codere Online US Corp are growing +15.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net cash does Codere Online US Corp (CDRO) hold?
Codere Online US Corp holds more cash than debt, $46.1M net (fiscal year 2025). The company holds more cash than debt, a safety cushion.
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Thin data
Sep 13, 2026