Aristocrat Leisure Ltd
ASX: ALL · Consumer Cyclical · Gambling
- Market cap
- A$38.1B
- P/E (trailing)
- 23.3
- EPS (FY25)
- $2.62
- Dividend / share
- $0.86
- 52-week range
- –
- Intrinsic value
- A$65.30
Share price
ASX: ALL · AUD
Valuation
Full valuation analysis →Fair-value estimate per share, updated 26 Jul 2026
A$65.30 The median of our 3 model estimates
Near fair value Within 10% of the A$60.79 price.
- Discounted cash flow
- A$42.64
- EPS growth model
- A$76.44
- P/E multiple
- A$65.30
Revenue
As reported · financial years
Earnings per share
Diluted · as reported
Profit margins
Gross, operating and net margin by financial year
Excellent Net margin of 26.1% in FY25: an unusually profitable business.
Shares outstanding
Diluted · falling means buybacks, rising means dilution
Moderate buybacks -2.0% year-on-year, -0.2% a year over 10 years: share count has been stable over the long run.
Working-capital days
Days of revenue sitting in receivables (DSO) and days of cost sitting in inventory (DIO)
Slowing collections DSO of 74 days vs a 60-day norm: customers are taking longer to pay than the historical norm.
Financial health
Latest financial year (FY25)
- Return on equity
- 25.0%
- Excellent
- Current ratio
- 1.65
- Comfortable
- Debt to equity
- 0.31
- Moderate
- Interest coverage
- 12.3×
- Very strong
Verdicts are graded against what's normal for the sector (Consumer Cyclical), not a one-size-fits-all bar. Hover a tile for the reasoning.
Dividends per share
Full dividend history →Per financial year, as reported in the accounts
Balanced 33% of FY25 earnings paid out: a comfortable split between dividends and reinvestment.
Free cash flow
Cash from operations minus capital spending: what the DCF model projects from
Good 96% of FY25 net profit became free cash: most reported profit turns into cash.
Net debt
Borrowings and leases minus cash: the line shows how many years of operating profit (EBIT) would clear it
Low leverage Net debt of $748.4M is 0.4× FY25 operating profit: net debt is small against operating profit.
Five-year snapshot
Figures as reported in the company's filings
| Metric | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $4.7B | $5.6B | $6.3B | $6.6B | $6.3B |
| Net profit | $820.0M | $948.5M | $1.5B | $1.3B | $1.6B |
| EPS (diluted) | $1.28 | $1.42 | $2.21 | $2.04 | $2.62 |
| Dividend / share | $0.25 | $0.52 | $0.56 | $0.70 | $0.86 |
| Net margin | 17.3% | 17.0% | 23.1% | 19.7% | 26.0% |
What does Aristocrat Leisure (ALL) do?
Aristocrat Leisure operates in the gambling industry within the Consumer Cyclical sector, developing gaming machines, software and mobile applications, with most operations based in Australia. Its portfolio spans physical slot-machine cabinets and other casino hardware, casino management software systems, and digital gaming labels including Aristocrat Gaming and Pixel United. The company also operates real-money online gambling services.
Founded in 1984 and headquartered in North Ryde, Australia, Aristocrat Leisure has been listed on the Australian Securities Exchange since 1996, giving the business a public trading history of roughly three decades. The company reports approximately 8,500 full-time employees. Trevor J. Croker holds the role of chief executive officer, with responsibility for the group's combined gaming technology, casino systems and mobile applications operations described above.
Common questions about ALL
Is ALL undervalued right now? +–
The median of our 3 model estimates puts Aristocrat Leisure Ltd's fair value at A$65.30 per share against a price of A$60.79, 6.9% below the estimate as at 26 Jul 2026. Model estimates are a starting point, not advice. See the full valuation breakdown.
Does ALL pay a dividend? +–
Aristocrat Leisure Ltd paid $0.86 per share in its most recent financial year with a recorded dividend. The dividend history chart above shows the full payout record.
How fast is ALL growing? +–
Revenue has compounded at 8.8% a year over the last five financial years, and 14.9% a year over ten.
What is ALL's P/E ratio? +–
Aristocrat Leisure Ltd trades on a trailing price-to-earnings ratio of 23.3, based on diluted earnings of $2.62 per share in FY25.
Compare ALL with peers
How has Aristocrat Leisure (ALL) performed financially and what do valuation models say it's worth?
Aristocrat Leisure's reported revenue grew from $2.1B in FY2016 to a peak of $6.6B in FY2024, before easing to $6.3B in FY2025. Net income rose over the same span from $350.5M to $1.64B in FY2025, though the path wasn't linear: FY2020 net income jumped to $1.38B even as revenue plateaued near $4.1B, and FY2024 net income slipped to $1.3B before rebounding. Diluted earnings per share grew from $0.55 in FY2016 to $2.615 in FY2025.
Profitability has been uneven across the period. Gross profit margin held near 59-61% in FY2016-2017, fell to 43.5% in FY2020, and recovered to 58.7% by FY2025. Operating income margin followed a similar arc — 28.0% in FY2016, a low of 12.4% in FY2020, and a ten-year high of 31.9% in FY2025 — with the most recent earnings growth accompanied by the strongest operating margin of the decade of reported results.
As of 3 July 2026 the shares last closed at $61.40. The valuation models attached to the latest results put estimated fair value anywhere from $42.64 (the DCF model) to $76.44 (the EPS-growth model), with a P/E-ratio-based estimate of $65.30 in between. The current P/E of 23.48 sits slightly below the company's own five-year median P/E of 24.97, one reference point among several the models draw on.
AI-assisted analysis generated from Craytheon's verified financial data · Updated 5 Jul 2026 · How this works
Data is general information only, not financial advice. Figures are as reported in company filings (some ASX companies report in USD); share prices are AUD.