Codere Online Luxembourg, S.A. (CDRO) Key Metrics
CDRO key metrics, 2019–2025
Fiscal year ended December 31, 2025 · eurosCDRO returns How much profit the business earns on the capital it uses.
CDRO financial health Debt, liquidity and how easily interest is covered.
CDRO efficiency & capital use Working capital cycle and where the cash goes.
CDRO returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CDRO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CDRO cash returned to shareholders
CDRO key metrics in euros
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Returns & profitability | |||||||
| Return on equity (ROE) | 4.9% | 17.3% | −10.6% | −100.4% | −486.3% | — | — |
| Return on invested capital (ROIC) | — | — | — | — | — | — | −159.7% |
| Return on assets (ROA) | 1.7% | 5.3% | −3.4% | −53.1% | −109.9% | −51.8% | −36.6% |
| Return on tangible assets | 1.6% | 5.2% | −3.3% | −66.9% | −64.9% | −93.4% | −38.4% |
| Free cash flow margin | 7.8% | 1.8% | −7.3% | −36.7% | −6.6% | 4.8% | −2.1% |
| Income quality (OCF / net income) | 12.78 | 1.01 | — | — | — | — | — |
| Financial health | |||||||
| Total debt | €3.9M | €5.4M | — | €5.0M | €3.0M | €39.2M | €51.7M |
| Cash & short-term investments | €59.6M | €53.8M | €41.3M | €60.6M | €98.8M | €15.7M | €12.4M |
| Net debt | −€55.7M | −€48.4M | −€41.3M | −€55.6M | −€95.8M | €23.6M | €39.3M |
| Debt / equity | 0.14 | 0.22 | — | 0.20 | 0.04 | — | — |
| Debt / assets | 0.05 | 0.07 | — | 0.07 | 0.03 | 2.11 | 1.17 |
| Net debt / EBITDA | −9.51 | −10.26 | — | — | — | — | — |
| Current ratio | 1.37 | 1.40 | 1.25 | 1.60 | 3.31 | 0.47 | 0.78 |
| Quick ratio | 1.37 | 1.40 | 1.25 | 1.76 | 3.31 | 0.47 | 0.86 |
| Interest coverage | — | — | — | -4.4 | -126.6 | -27.4 | -59.0 |
| Working capital | €18.2M | €18.0M | €13.2M | €25.6M | €73.1M | −€19.7M | −€12.0M |
| Invested capital | −€27.2M | −€24.4M | −€20.1M | −€31.2M | −€27.8M | −€16.4M | €7.9M |
| Tangible asset value | €28.7M | €24.2M | €21.3M | €24.5M | €67.7M | −€41.1M | −€33.3M |
| Net current asset value | €15.3M | €12.6M | €12.8M | €23.6M | €67.5M | −€41.2M | −€33.4M |
| Capital allocation | |||||||
| Dividends paid | €0 | €0 | €0 | €0 | — | — | — |
| Share buybacks (net) | €2.4M | €0 | €0 | — | — | — | — |
| Dividend payout ratio | 0.0% | 0.0% | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 14.4% | 0.0% | — | — | — | — | — |
| Capex / revenue | 0.0% | 0.1% | 0.2% | 0.1% | 0.1% | 0.1% | 0.1% |
| Capex / operating cash flow | 0.5% | 6.5% | — | — | — | 1.6% | — |
| Capex / depreciation | 0.70 | 0.66 | 2.15 | 0.29 | 0.11 | 0.06 | 0.06 |
| SG&A / revenue | 40.6% | 42.6% | 94.2% | 76.8% | 60.8% | 98.5% | 107.7% |
| Efficiency | |||||||
| Days sales outstanding | 11.5 | 13.6 | 17.1 | 19.2 | 14.8 | 80.0 | 174.9 |
| Days of inventory on hand | — | — | — | -80.6 | 0.0 | -154.8 | -312.9 |
| Days payables outstanding | 342.8 | 547.6 | 1,616.1 | 518.6 | 843.0 | 1,116.0 | 1,324.7 |
| Cash conversion cycle (days) | -331.3 | -534.0 | -1,599.0 | -579.9 | -828.2 | -1,190.8 | -1,462.8 |
| Receivables turnover | 31.74 | 26.81 | 21.39 | 18.99 | 24.64 | 4.56 | 2.09 |
| Payables turnover | 1.06 | 0.67 | 0.23 | 0.70 | 0.43 | 0.33 | 0.28 |
| Inventory turnover | — | — | — | — | 7,080,000.00 | — | — |
| Asset turnover | 2.71 | 2.71 | 2.26 | 1.33 | 1.30 | 2.25 | 1.39 |
| Average receivables | €6.6M | €7.5M | €7.6M | €6.1M | €3.3M | €15.4M | €29.5M |
| Average payables | €23.5M | €28.2M | €27.8M | €21.7M | €16.4M | €15.8M | €18.5M |
| Average inventory | — | — | — | −€3.4M | €1 | −€2.2M | −€4.4M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.4% | 6.1% | 4.5% |
Computed from CDRO's annual financial statements (latest annual report filed April 28, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in euros; data from EODHD. Averages use the opening and closing balance of each year.
CDRO valuation and financial ratios
Codere Online Luxembourg earned a return on equity of 4.9% in fiscal 2025. It ended the year with €3.9 million of debt and €59.6 million in cash and short-term investments, a net cash position of €55.7 million. It returned €2.4 million to shareholders: €0 in dividends and €2.4 million in share buybacks, 14% of free cash flow.
See the CDRO income statement, the CDRO chart for price history, or the CDRO stock overview for the latest quote and news.
CDRO key metrics FAQ
What is Codere Online Luxembourg's return on equity?
Codere Online Luxembourg's return on equity (ROE) was 4.9% in fiscal 2025: net income of €1.3 million on average shareholders' equity of €26.3 million.
How much debt does Codere Online Luxembourg have?
Codere Online Luxembourg had total debt of €3.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.14 and more cash than debt.
Does Codere Online Luxembourg pay a dividend?
Codere Online Luxembourg did not pay a dividend in fiscal 2025.
Does Codere Online Luxembourg buy back its shares?
Yes. Codere Online Luxembourg spent €2.4 million on net share repurchases in fiscal 2025.
What is Codere Online Luxembourg's current ratio?
Codere Online Luxembourg's current ratio was 1.37 at the end of fiscal 2025: current assets were 1.37 times current liabilities.