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Aristocrat Leisure Ltd ALL

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Stock XASX Rating as of
A$59.76 +0.88 (1.49%)
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As of Delayed Price Closed

Company Report

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Gaming Machines Underpin Aristocrat's Wide Economic Moat

Angus Hewitt, Leo Wang

We expect Aristocrat Leisure to continue to dominate the electronic gaming machine market, particularly in North America. With a strong balance sheet and commanding market position, Aristocrat's research and development expenditure is unmatched by peers. This investment is the lifeblood of any electronic gaming manufacturer, especially given rapidly changing technology and consumer demands, and allows Aristocrat to maintain game quality, differentiate products from lower-end competitors, and defend its wide economic moat.

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Price vs Fair Value

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ALL is trading at a LOCK|X?%pGW< premium.
Price
A$59.76
Fair Value
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Uncertainty
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1-Star Price
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5-Star Price
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Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Aristocrat operates in a market protected from new entrants, as stringent regulatory licensing requirements in major markets create barriers to entry for new players.

Bears

In the pursuit of continued earnings growth, Aristocrat is at risk of overpaying for acquisitions in its competitively more challenged digital gaming business.

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News

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Trading Information

Previous Close Price
A$58.88
Day Range
A$58.94–59.81
52-Week Range
A$44.18–70.79
Bid/Ask
A$59.10 / A$60.00
Shares Outstanding
592.35M
Market Cap
A$35.51B
Volume/Avg
791,376 / 1M

Key Statistics

Price/Earnings (Normalized)
16.61
Price/Sales
5.89
Dividend Yield (Trailing)
1.66%
Dividend Yield (Forward)
1.66%
Dividend Payment Schedule
Jul, Dec
Total Yield
5.56%

Company Profile

Aristocrat Leisure is an electronic gaming machine manufacturer that sells machines to pubs, clubs, and casinos. The firm is licensed in all Australian states and territories, North American jurisdictions, and essentially every major country. Aristocrat is one of the top three largest players in the space along with International Game Technology and Light & Wonder. The company also develops and distributes mobile games, principally in the social casino niche. The more nascent iGaming business sits between these two businesses, providing digital content and capabilities to real-money gaming providers.
Sector
Consumer Cyclical
Industry
Gambling
Stock Style Box
Large Core
Total Number of Employees
7,000
Website
https://www.aristocrat.com

Competitors

Valuation

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Metric
ALL
WYNN
LNW
Price/Earnings (Normalized)
 16.6117.1010.95
Price/Book Value
 5.84—19.14
Price/Sales
 5.891.081.79
Price/Cash Flow
 18.705.416.88
Price/Earnings
ALL
WYNN
LNW

Financial Strength

Metric
ALL
WYNN
LNW
Quick Ratio
 1.240.841.10
Current Ratio
 1.600.911.73
Interest Coverage
 16.022.032.05
Quick Ratio
ALL
WYNN
LNW

Profitability

Metric
ALL
WYNN
LNW
Return on Assets (Normalized)
 15.54%3.62%9.10%
Return on Equity (Normalized)
 24.28%—128.34%
Return on Invested Capital (Normalized)
 19.25%8.42%15.24%
Return on Assets
ALL
WYNN
LNW

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