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Aristocrat Leisure Ltd ALL

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Stock XASX Rating as of
A$50.65 −0.31 (0.61%)
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As of Delayed Price Closed
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Company Report

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Aristocrat's Economic Moat Underpinned by Land-Based Gaming Business

Angus Hewitt

We expect Aristocrat Leisure will continue to dominate the electronic gaming machine market. 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 narrow economic moat.

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Price vs Fair Value

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ALL is trading at a 292% premium.
Price
A$50.65
Fair Value
A$61.00
Uncertainty
Medium
1-Star Price
A$29.10
5-Star Price
A$18.10
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$50.96
Day Range
A$50.65–51.60
52-Week Range
A$36.45–51.60
Bid/Ask
A$50.50 / A$51.41
Market Cap
A$32.02 Bil
Volume/Avg
950,422 / 1.5 Mil

Key Statistics

Price/Earnings (Normalized)
17.36
Price/Sales
5.07
Dividend Yield (Trailing)
1.38%
Dividend Yield (Forward)
1.42%
Total Yield
4.25%

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. Through acquisitions of Plarium and more recently Big Fish, Aristocrat now derives a significant proportion of earnings from the faster growing mobile gaming business.
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
SGR
WYNN
Price/Earnings (Normalized)
 17.363.5916.08
Price/Book Value
 4.910.55—
Price/Sales
 5.070.521.40
Price/Cash Flow
 17.86—6.67
Price/Earnings
ALL
SGR
WYNN

Financial Strength

Metric
ALL
SGR
WYNN
Quick Ratio
 2.820.661.35
Current Ratio
 3.110.851.43
Interest Coverage
 11.24−11.361.41
Quick Ratio
ALL
SGR
WYNN

Profitability

Metric
ALL
SGR
WYNN
Return on Assets (Normalized)
 13.37%−5.90%8.85%
Return on Equity (Normalized)
 21.61%−10.16%—
Return on Invested Capital (Normalized)
 15.50%−4.53%13.75%
Return on Assets
ALL
SGR
WYNN
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Gambling Industry Comparables

Screen With Investor
1-Day Chart
Name
Price
Morningstar Rating for Stocks
Capital Allocation
Economic Moat
Market Cap
Flutter Entertainment PLC
FLUT
—Rvbwh$34.7 Bil
 Evolution AB
EVGGF
—Gjsbg$22.4 Bil
 Evolution AB ADR
EVVTY
—Fzrg$22.4 Bil
 Aristocrat Leisure Ltd
ARLUF
—Rgxv$21.7 Bil
 DraftKings Inc Ordinary Shares - Class A
DKNG
ZsmrnxmlFbbn$18.0 Bil
 Churchill Downs Inc
CHDN
—Pwzsc$10.3 Bil
 Light & Wonder Inc Ordinary Shares
LNW
KpgpvtbwNtcf$9.3 Bil
 The Lottery Corp Ltd
LTRCF
—Nwnq$7.3 Bil
 La Francaise Des Jeux SA Ordinary Shares
LFDJF
—Zygrygg$6.6 Bil
 Greek Organisation of Football Prognostics SA ADR
GOFPY
—Bwnf$5.9 Bil

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