ARISTOCRAT LEISURE LIMITED (ALL)
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ALL

ALL - ARISTOCRAT LEISURE LIMITED

FNArena Sector : Gaming
Year End: September
GICS Industry Group : Consumer Services
Debt/EBITDA: 0.99
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Aristocrat Leisure designs, manufactures and services gaming machines and associated equipment. It also has a range of digital games and operates in over 90 countries. It was first listed in July 1996.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$75.13

20 Feb
2025

-3.380

OPEN

$76.93

-4.31%

HIGH

$76.93

2,016,012

LOW

$74.27

TARGET
$76.357 1.6% upside
OTHER COMPANIES IN THE SAME SECTOR
AGI . BBT . BET . JIN . LNW . PBH . PLY . SGR . SKC . TAH . TLC . TLC .
FNARENA'S MARKET CONSENSUS FORECASTS
ALL: 1
Title FY23
Actual		 FY24
Actual		 FY25
Forecast		 FY26
Forecast
EPS (cps) xxx 204.8 266.2 xxx
DPS (cps) xxx 78.0 92.2 xxx
EPS Growth xxx - 8.0% 30.0% xxx
DPS Growth xxx 21.9% 18.2% xxx
PE Ratio xxx N/A 27.9 xxx
Dividend Yield xxx N/A 1.2% xxx
Div Pay Ratio(%) xxx 38.1% 34.6% xxx

Dividend yield today if purchased 3 years ago: 2.04%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 1.05

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: 29/11 - (franking ex-di

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2025 FactSet UK Limited. All rights reserved
Title 201920202021202220232024
EPS Basic 109.2215.2128.1142.9222.5204.8
DPS All 55.810.040.952.064.078.0
Sales/Revenue 4,397.4 M4,139.1 M4,736.6 M5,573.7 M6,295.7 M6,603.6 M
Book Value Per Share 335.0496.9606.8914.61,040.21,000.5
Net Operating Cash Flow 1,085.5 M1,022.9 M1,328.4 M1,246.0 M1,799.1 M1,765.2 M
Net Profit Margin 15.89 %33.29 %17.31 %17.02 %23.10 %19.74 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201920202021202220232024
Return on Capital Employed 36.06 %51.76 %23.23 %19.16 %22.81 %20.04 %
Return on Invested Capital 14.63 %23.78 %11.72 %11.86 %16.25 %14.66 %
Return on Assets 11.47 %19.39 %9.91 %10.09 %13.82 %12.28 %
Return on Equity 36.06 %51.76 %23.23 %19.16 %22.81 %20.04 %
Return on Total Capital 24.31 %9.89 %15.62 %18.21 %18.73 %21.61 %
Free Cash Flow ex dividends 525.2 M609.7 M995.8 M690.0 M1,079.7 M898.3 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 201920202021202220232024
Short-Term Debt 0 M50 M57 M156 M164 M154 M
Long Term Debt 2,793 M3,469 M3,468 M2,629 M2,518 M2,254 M
Total Debt 2,793 M3,519 M3,525 M2,785 M2,682 M2,408 M
Goodwill - Gross 2,923 M2,755 M2,825 M3,170 M3,275 M4,382 M
Cash & Equivalents - Generic 575 M1,683 M2,439 M3,030 M3,160 M952 M
Price To Book Value 9.106.017.713.603.935.86

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201920202021202220232024
Capex 316.6 M247.8 M227.7 M268.8 M452.7 M494.1 M
Capex % of Sales 7.20 %5.99 %4.81 %4.82 %7.19 %7.48 %
Cost of Goods Sold 2,155 M2,338 M2,405 M2,621 M2,853 M2,857 M
Selling, General & Admin. Exp & Other 1,081 M1,226 M1,230 M1,477 M1,737 M1,791 M
Research & Development 500 M498 M528 M667 M820 M848 M
Investments - Total 7 M8 M11 M27 M32 M116 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

0.9

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Citi

xx/xx/xxxx

1

xxx

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Morgan Stanley

xx/xx/xxxx

1

xxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

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Bell Potter

21/02/2025

1

Buy

$85.00

13.14%

At its AGM, Aristocrat Leisure said it expects to deliver profit growth over FY25 on a constant currency basis, both including and excluding the discontinued Plarium business, skewed to 2H25.

A $750m buyback program was also announced, which came in slightly below Bell Potter's expectations. M&A remains on the table
with FY25 net cash forecasted to be below target leverage of 1.0-2.0x.

Fee Per Day (FPD) is expected to be lower in 1H25 compared to 1H24 due to regional and customer mix. Aristocrat expects FPD to improve sequentially in 2H25. The softer 1H25 FPD likely drove yesterday’s adverse market reaction, the broker suggests.

Whilst Bell Potter notes the stock trades on historically elevated levels, the broker continues to expect operating momentum in FY25 to accelerate, particularly in Gaming Operations. Target rises to $85 from $83, Buy retained.

FORECAST
Bell Potter forecasts a full year FY25 dividend of 89.00 cents and EPS of 271.00 cents.
Bell Potter forecasts a full year FY26 dividend of 97.00 cents and EPS of 293.00 cents.

Macquarie

xx/xx/xxxx

1

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Morgans

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

1

xxx

$xx.xx

xx.xx%

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Access Stockbroker Research History >
EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

2

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

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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Goldman Sachs

28/01/2025

1

Upgrade to Buy from Neutral

$78.00

3.82%

Reflecting Goldman Sachs' preference for high quality companies with a track record of delivering strong and certain earnings growth, the broker upgrades Aristocrat Leisure to Buy from Neutral after raising the target to $78 from $70.

The broker highlights Aristocrat's record North American installations in 2024, reinforcing market dominance and enabling over 40% market share.

Earnings growth is further bolstered by currency tailwinds and synergies between Aristocrat's land-based and social casino segments, explain the analysts.

Balance sheet strength also underpins the company's capacity for buybacks and mergers and acquisitions, highlights Goldman Sachs.

FORECAST
Goldman Sachs forecasts a full year FY25 dividend of 100.00 cents and EPS of 286.00 cents.
Goldman Sachs forecasts a full year FY26 dividend of 111.00 cents and EPS of 318.00 cents.
Access Extra Coverage Research History >

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