LOTTERY CORPORATION LIMITED (TLC)
Share Price Analysis and Chart

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TLC

TLC - LOTTERY CORPORATION LIMITED

FNArena Sector : Gaming
Year End: June
GICS Industry Group : Consumer Services
Debt/EBITDA: 3.45
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.29

06 May
2026

-0.280

OPEN

$5.35

-5.03%

HIGH

$5.45

11,617,091

LOW

$5.19

TARGET
$5.875

+0.05 change from previous day

 11.1% upside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
AGI . ALL . BBT . BET . JIN . LNW . PBH . PLY . SGR . SKC . TAH .
FNARENA'S MARKET CONSENSUS FORECASTS
TLC: 1
Title FY24
Actual		 FY25
Actual		 FY26
Forecast		 FY27
Forecast
EPS (cps) xxx 16.4 17.2 xxx
DPS (cps) xxx 16.5 17.4 xxx
EPS Growth xxx - 11.7% 4.6% xxx
DPS Growth xxx - 10.8% 5.5% xxx
PE Ratio xxx N/A 31.1 xxx
Dividend Yield xxx N/A 3.3% xxx
Div Pay Ratio(%) xxx 100.4% 101.3% xxx

Dividend yield today if purchased 3 years ago: 3.31%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.08

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 27/08 - ex-div 8.50c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2026 FactSet UK Limited. All rights reserved
Title 2022202320242025
EPS Basic xxxxxxxxx16.4
DPS All xxxxxxxxx16.5
Sales/Revenue xxxxxxxxx3,727.2 M
Book Value Per Share xxxxxxxxx14.5
Net Operating Cash Flow xxxxxxxxx541.7 M
Net Profit Margin xxxxxxxxx9.81 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 2022202320242025
Return on Capital Employed xxxxxxxxx106.73 %
Return on Invested Capital xxxxxxxxx13.34 %
Return on Assets xxxxxxxxx8.34 %
Return on Equity xxxxxxxxx106.73 %
Return on Total Capital xxxxxxxxx21.85 %
Free Cash Flow ex dividends xxxxxxxxx130.1 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 2022202320242025
Short-Term Debt xxxxxxxxx174 M
Long Term Debt xxxxxxxxx2,327 M
Total Debt xxxxxxxxx2,500 M
Goodwill - Gross xxxxxxxxx2,083 M
Cash & Equivalents - Generic xxxxxxxxx662 M
Price To Book Value xxxxxxxxx36.85

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 2022202320242025
Capex xxxxxxxxx71.6 M
Capex % of Sales xxxxxxxxx1.92 %
Cost of Goods Sold xxxxxxxxx914 M
Selling, General & Admin. Exp & Other xxxxxxxxx2,195 M
Research & Development xxxxxxxxx-
Investments - Total xxxxxxxxx563 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

0.6

No. Of Recommendations

6
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Morgans

xx/xx/xxxx

2

xxxxxxx xx xxxxxxxxxx xxxx xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxxxxxx xx xxxxx-xxxxxx xxxx xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

06/05/2026

1

Buy

$6.40

20.98%

Lottery Corp has won a 40-year extension of its licence in Victoria for a fee of -$1.145bn payable to the Victorian government, which Ord Minnett considers an outstanding achievement given the typical 10-year renewal period.

The early renewal of the licence in Victoria, which makes up around 30% and 20% of lottery revenue and group operating earnings, respectively, has reduced the risk to cash flows over the next few decades, the broker observes.

Ord Minnett reduces EPS estimates by -4.3% FY26 and -12.2% for FY27, largely because of jackpot trends and the removal of digital earnings from Keno. Target is raised to $6.40 from $6.10 and the Buy rating is reiterated.

UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Jarden

07/05/2026

2

Overweight

$5.60

5.86%

Jarden retains an Overweight rating and an unchanged $5.60 target price for Lottery Corp following a 40-year extension of the Victorian Public Lottery Licence.

The broker views the deal as strategically transformative, pushing the next major renewal to 2050 and structurally de-risking the business, despite an upfront premium of -$1,145m creating near-term earnings dilution.

The report outlines an incremental headwind from higher finance costs and non-deductible licence amortisation, combined with the removal of online Keno revenues from January 2027 amid proposed gambling reforms.

To reflect these pressures, earnings per share forecasts decline to 17.6c from 20.2c in FY27 and to 18.4c from 21.8c in FY28, while FY26 estimates hold steady at 17.0c.

A simultaneous shift to a dividend policy based on net profit after tax and amortisation absorbs the vast majority of the earnings hit, the report stipulates, leaving dividend per share projections unchanged.

FORECAST
Jarden forecasts a full year FY26 dividend of 16.50 cents and EPS of 17.00 cents.
Jarden forecasts a full year FY27 dividend of 18.00 cents and EPS of 17.60 cents.
Access Extra Coverage Research History >

TLC STOCK CHART

FNArena News on TLC

1
Australian Broker Call *Extra* Edition – May 07, 2026

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2
Rudi’s View: Best Buys & Conviction Calls

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Australian Broker Call *Extra* Edition – Apr 13, 2026

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Rudi’s View: Post-February Conviction Calls

Mar 12 2026 - Rudi's View
5
Australian Broker Call *Extra* Edition – Mar 11, 2026

Mar 11 2026 - Daily Market Reports

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