ARISTOCRAT LEISURE LIMITED (ALL)



Welcome to InvestSMART

You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:

Sign Up Today » it's FREE! Already a member? Login now!


General Information
Company Name: Aristocrat Leisure Limited
Stock Code: ALL
Website: www.aristocratgaming.com
GICS Sub-Industry: Casinos & Gaming
Market Cap ($M): 2,355
Equiv. Shares (M): 551

Current Price Data+
Current Price Open High Low Last Close Volume Price Movement
 $ 4.270 $ 4.240 $ 4.320 $ 4.210 $ 4.200 3,590,745 $ 0.070  1.667 %

Current Broker Consensus Recommendation more
Recommendation: Hold
Recommendation Date: 21st May 2013
12 Month Target Price (average): $3.546
Brokers Surveyed: 8

Company Overview

Business Description:
Aristocrat Leisure Limited (ALL) operates as a developer, manufacturer and distributor of gaming machines and systems in Australia, New Zealand, Americas, Japan and Rest of World. ALL offers a diverse range of products and services including electronic gaming machines, interactive video terminal systems and casino management systems.

Strategy Analysis:
Aristocrat aims to be a leading global provider of gaming solutions by maintaining market leadership in Australia and New Zealand, expanding its business into key international markets, increasing sales of gaming and progressive linked jackpots and developing the most entertaining games software. Aristocrat is expanding into video lotteries, table games and electronic poker. Aristocrat is focused on North America, Australia and Japan. Aristocrat Leisure reported NPAT up 39.6% to $34.7m for the half-year ended 30 June 2012. This was predominantly delivered through improved operational performance with EBIT growth of 29.3% (21.9% in constant currency). Revenues from ordinary activities were $396.39m, up 27.6% from the same period last year with all key regions delivering growth. Diluted EPS was 6.3 cents compared to 4.6 cents last year. Net operating cash flow was $29.21m compared to $15.01m last year. The interim dividend declared was 4 cents compared with 2.5 cents last year.


Financial Summary
Year to Sep NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2014  F 132.0 24.1 15.9 17.7 8.0 1.9 0.0
2013  F 113.9 20.8 144.6 20.5 8.0 1.9 0.0
2012  A 46.6 8.5 -31.8 30.8 6.0 2.3 0.0
Source: Morningstar analyst estimates.

Peer Comparison
EPS Growth (%) P/E (%) Dividend Yield (%)
Company Mkt Cap 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F 2012 A 2013 F 2014 F
Aristocrat Leisure (ALL) $2,316 M -0.3249 0.6477 0.2383 37.8038 22.9508 18.5349 0.0190 0.0238 0.0299
Crown (CWN) $9,440 M 0.5755 -0.1647 0.3002 18.5727 22.2337 17.0999 0.0285 0.0285 0.0285
Echo Entertainment Group (EGP) $2,840 M -0.4617 -0.0254 0.2070 20.3550 20.8865 17.3038 0.0116 0.0233 0.0294
Tabcorp (TAH) $2,682 M -- -0.6004 0.0722 7.5789 18.9673 17.6904 0.0667 0.0482 0.0448
Tatts Group (TTS) $4,685 M 0.1681 -0.3553 -0.0308 13.2435 20.5412 21.1929 0.0689 0.0454 0.0449

Market Comparison
Earnings P/E Ratio P/B Ratio P/E Growth P/S Ratio
ALL 1.74 27.1 8.46 0.63 3.01
Market 0.82 14.6 1.24 1.87 1.73
Sector 1.33 16.7 1.82 2.34 1.45

Directors
Name Position Start Date
Mr Jamie Odell Chief Executive Officer,Managing Director 13 May 2009
Mr Roger Andrew Davis Non-Executive Director 07 June 2005
Dr Rosalind Vivienne Dubs Non-Executive Director 15 June 2009
Mr Stephen Morro Non-Executive Director 15 December 2010
Mr Lewis (Kelly) Flock Non-Executive Director 29 November 2011
Mr David Banks Non-Executive Director 12 July 2011

Management
Name Position
Toni Korsanos Chief Financial Officer,Company Secretary
TJ Croker Managing Director, Australia, New Zealand and Europe, Middle East, Africa (EMEA)
A Bali President, Americas

Substantial Shareholders
Holding Name
34,434,350 (6.24%) Maple Brown Abbott Limited
28,749,424 (5.22%) SAS Trustee Corporation
29,783,225 (5.41%) IOOF Holdings Limited
29,358,814 (5.32%) National Australia Bank Limited
34,141,067 (6.20%) Sumitomo Mitsui Trust Holdings Inc
43,871,635 (7.97%) Lazard Asset Management Pacific Co
27,667,275 (5.02%) Commonwealth Bank of Australia

Calendar of Events
Date Event
27 November 2013 Report (Prelim)
27 August 2013 Report (Interim)
© 2011 Morningstar, Inc. All rights reserved. The data and content contained herein are not guaranteed to be accurate, complete or timely. Neither Morningstar, nor its affiliates nor their content providers will have any liability for use or distribution of any of this information. To the extent that any of the content above constitutes advice, it is general advice that has been prepared by Morningstar Australasia Pty Ltd ABN: 95 090 665 544, AFSL: 240892 (a subsidiary of Morningstar, Inc.), without reference to your objectives, financial situation or needs. Before acting on any advice, you should consider the appropriateness of the advice and we recommend you obtain financial, legal and taxation advice before making any financial investment decision. If applicable investors should obtain the relevant product disclosure statement and consider it before making any decision to invest. Some material is copyright and published under licence from ASX Operations Pty Limited ACN 004 523 782 ("ASXO"). DISCLOSURE: Employees may have an interest in the securities discussed in this report. Please refer to our Financial Services Guide (FSG) for more information at www.morningstar.com.au/fsg.asp.

Advertisement

Trade Shares Online from $19.95^
Free Guides

The SMH Guide to Debt Relief

An educational booklet to help you take control of your debts and look to get back on track.

More details...

News

Commission questions high energy profits

The Age 24/05/2013 | The door has been opened to full deregulation of electricity prices in NSW after a report found there was a high degree of competition, with more than 60 per cent of households on unregulated contracts.

James Hardie posts 92% earnings fall

The Age 24/05/2013 | James Hardie expects no big improvement in the housing market this year but says the sector has stabilised after interest rate cuts.

Beer giant's local sales finally lift

The Age 24/05/2013 | Foster's owner SABMiller reported a 5 per cent drop in sales volumes in Australia over the past year but notched up 3 per cent growth in the fourth quarter, boosted in particular by the relaunch of Victoria Bitter.

ASIC takes exchange to task over computer glitch delays

The Age 24/05/2013 | The ASX took more than three hours to tell stockbrokers and investors a computer failure had knocked out its critical market announcements feed in October last year, according to a new investigation into the incident.

DuluxGroup pulls out of Masters

The Age 24/05/2013 | DuluxGroup has withdrawn its paint products from Masters and Danks stores to work more closely with other retailers.

Dollar in free fall as markets tumble

The Age 24/05/2013 | The Australian dollar plunged to its lowest level in a year, shedding over US2¢ in a session, as traders reacted to contradictory comments from the head of the US Federal Reserve on Thursday.

More...


Sponsored Links

Feedback Form