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: 3.61
Index: ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

The Lottery Corporation operates lottery and Keno businesses under long-dated licences across Australia. Its brands include The Lott, Oz Lotto, Powerball, Set for Life and Keno.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$5.09

24 Aug
2026

-0.110

OPEN

$5.16

-2.12%

HIGH

$5.20

6,942,684

LOW

$5.09

TARGET
$5.783 13.6% 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 FY25
Actual		 FY26
Actual		 FY27
Forecast		 FY28
Forecast
EPS (cps) xxx 12.8 16.9 xxx
DPS (cps) xxx 16.5 18.5 xxx
EPS Growth xxx - 22.2% 32.4% xxx
DPS Growth xxx 0.0% 12.1% xxx
PE Ratio xxx N/A 30.5 xxx
Dividend Yield xxx N/A 3.6% xxx
Div Pay Ratio(%) xxx 129.0% 109.3% xxx

Dividend yield today if purchased 3 years ago: 3.29%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 3.20

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 20222023202420252026
EPS Basic xxxxxxxxxxxx12.8
DPS All xxxxxxxxxxxx16.5
Sales/Revenue xxxxxxxxxxxx3,554.4 M
Book Value Per Share xxxxxxxxxxxx11.9
Net Operating Cash Flow xxxxxxxxxxxx421.9 M
Net Profit Margin xxxxxxxxxxxx8.01 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 20222023202420252026
Return on Capital Employed xxxxxxxxxxxx97.15 %
Return on Invested Capital xxxxxxxxxxxx10.55 %
Return on Assets xxxxxxxxxxxx5.77 %
Return on Equity xxxxxxxxxxxx97.15 %
Return on Total Capital xxxxxxxxxxxx20.66 %
Free Cash Flow ex dividends xxxxxxxxxxxx-49.4 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 20222023202420252026
Short-Term Debt xxxxxxxxxxxx13 M
Long Term Debt xxxxxxxxxxxx2,482 M
Total Debt xxxxxxxxxxxx2,495 M
Goodwill - Gross xxxxxxxxxxxx2,083 M
Cash & Equivalents - Generic xxxxxxxxxxxx687 M
Price To Book Value xxxxxxxxxxxx48.52

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 20222023202420252026
Capex xxxxxxxxxxxx104.0 M
Capex % of Sales xxxxxxxxxxxx2.93 %
Cost of Goods Sold xxxxxxxxxxxx856 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxx2,122 M
Research & Development xxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxx531 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

0.3

No. Of Recommendations

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

Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

3

xxxxx-xxxxxx

$xx.xx

xx.xx%

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Ord Minnett

20/08/2026

1

Buy

$6.40

25.74%

Ord Minnett views The Lottery Corp's FY26 result as resilient despite historically weak jackpot activity, with normalised NPAT of $343m down -6% and -1% below consensus.

Improving digital penetration and lower operating costs are highlighted, which helped limit the earnings impact, while a normalisation in jackpots and the Victorian lotteries licence extension should support FY27.

The broker cuts FY27 to FY29 EPS forecasts by -3.0% to -5.6%, reflecting a slower start to FY27 turnover, updated D&A and interest assumptions, and the online Keno closure. Buy is retained, with the target reduced to $6.40 from $6.60.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 19.00 cents and EPS of 17.00 cents.
Ord Minnett forecasts a full year FY28 dividend of 20.00 cents and EPS of 18.00 cents.

Macquarie

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

5

xxxx

$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

24/08/2026

2

Overweight

$5.65

11.00%

Jarden maintains its Overweight recommendation for Lottery Corp with its target price unchanged at $5.65 following an in-line FY26 EBITDA result delivered despite a -3% revenue miss, as turnover ran $700m below theoretical due to a rare jackpot outcome.

Management kept the final dividend flat at 16.5c representing a 107% payout ratio, signalling confidence through the trough.

Effective cost control remained a key highlight while reported leverage rose to 3.1x, or 42x adjusted for the Victorian licence and normalised jackpots, with management flagging plans to move beyond the target range once the $895m October payment lands.

The broker's estimates note that FY27 has started with weak jackpots, driving 2.5 percentage points of a -7% FY27 earnings per share cut.

The analyst notes that rising leverage and a lack of near-term catalysts temper conviction despite maintaining the Overweight rating.
Access Extra Coverage Research History >

TLC STOCK CHART

FNArena News on TLC

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2
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Australian Broker Call *Extra* Edition – Jul 20, 2026

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