Aristocrat Leisure 1H26 First Take

Aristocrat Leisure reported 1H26 results with EBITA and NPATA slightly ahead of estimates and increased its share buyback program to A$1bn. While digital gaming revenue was soft, core land-based gaming operations showed strong net installs and market share gains.

Key Takeaways

• 1.Aristocrat increased its on-market share buyback program to A$1bn and extended it through to May-27.
• 2.1H26 financial results were largely in line with or slightly ahead of expectations, with NPATA of A$794mn (+8% vs pcp).
• 3.Gaming operations showed strength in North America with 2,017 net installs, exceeding analyst estimates.

Table of Contents

• Result highlights
• FY26 outlook
• Aristocrat Leisure - Investment Thesis
• Aristocrat Leisure - Price Target Risks and Methodology
• Disclosure Appendix
• Price target and rating history chart(s)
• Target price history table(s)
• Regulatory disclosures
• Global product; distributing entities
• General disclosures

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