Aristocrat Leisure Limited

ASX:ALL Stock Report

Market Cap: AU$39.6b

Aristocrat Leisure Valuation

Is ALL undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ALL when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

AU$70.87
Fair Value
16.2% undervalued intrinsic discount
15
Number of Analysts

Below Fair Value: ALL (A$59.42) is trading below our estimate of fair value (A$70.87)

Significantly Below Fair Value: ALL is trading below fair value, but not by a significant amount.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ALL?

Key metric: As ALL is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ALL. This is calculated by dividing ALL's market cap by their current earnings.
What is ALL's PE Ratio?
PE Ratio31.5x
EarningsAU$1.16b
Market CapAU$39.63b

Price to Earnings Ratio vs Peers

How does ALL's PE Ratio compare to its peers?

The above table shows the PE ratio for ALL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average30.9x
TLC Lottery
32.7x7.48%AU$12.1b
TAH Tabcorp Holdings
58.3x20.94%AU$2.1b
JIN Jumbo Interactive
16.3x11.35%AU$643.8m
AGI Ainsworth Game Technology
16.1x-2.51%AU$341.8m
ALL Aristocrat Leisure
31x14.04%AU$36.7b

Price-To-Earnings vs Peers: ALL is expensive based on its Price-To-Earnings Ratio (31x) compared to the peer average (30.9x).

Price to Earnings Ratio vs Industry

How does ALL's PE Ratio compare vs other companies in the AU Hospitality Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
DNA Donaco International
1.4xn/aUS$35.88m
AAT Australian Adventure Tourism Group
3.7xn/aUS$1.34m
MCL Mighty Craft
0.2xn/aUS$1.26m
No more companies available in this PE range
ALL 31.5xIndustry Avg. 21.3xNo. of Companies4PE020406080100+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ALL is expensive based on its Price-To-Earnings Ratio (31x) compared to the Global Hospitality industry average (21.3x).

Price to Earnings Ratio vs Fair Ratio

What is ALL's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ALL PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio31.5x
Fair PE Ratio34.5x

Price-To-Earnings vs Fair Ratio: ALL is good value based on its Price-To-Earnings Ratio (31x) compared to the estimated Fair Price-To-Earnings Ratio (35.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ALL forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentAU$59.42
AU$73.97
+24.49%
6.32%AU$85.70AU$65.00n/a15
Nov ’26AU$63.35
AU$74.52
+17.62%
6.09%AU$86.60AU$65.00n/a15
Oct ’26AU$69.56
AU$73.12
+5.12%
5.17%AU$79.30AU$65.00n/a15
Sep ’26AU$70.38
AU$71.52
+1.62%
8.93%AU$79.30AU$52.00n/a15
Aug ’26AU$69.21
AU$70.96
+2.53%
8.48%AU$79.00AU$52.00n/a15
Jul ’26AU$65.67
AU$70.70
+7.65%
8.31%AU$79.00AU$52.00n/a15
Jun ’26AU$62.40
AU$70.70
+13.29%
8.31%AU$79.00AU$52.00n/a15
May ’26AU$66.81
AU$75.40
+12.85%
10.53%AU$84.00AU$50.00n/a15
Apr ’26AU$65.50
AU$76.22
+16.36%
11.25%AU$85.00AU$50.00n/a15
Mar ’26AU$72.10
AU$76.82
+6.55%
11.29%AU$85.00AU$50.00n/a15
Feb ’26AU$75.57
AU$71.43
-5.48%
10.75%AU$80.76AU$50.00n/a14
Jan ’26AU$68.36
AU$69.91
+2.27%
9.50%AU$77.00AU$50.00n/a14
Dec ’25AU$67.75
AU$69.91
+3.19%
9.50%AU$77.00AU$50.00n/a14
Nov ’25AU$61.50
AU$59.88
-2.64%
9.53%AU$68.00AU$48.00AU$63.3514
Oct ’25AU$58.08
AU$55.03
-5.25%
10.18%AU$63.50AU$41.15AU$69.5614
Sep ’25AU$54.71
AU$53.36
-2.47%
8.16%AU$59.00AU$41.15AU$70.3814
Aug ’25AU$54.32
AU$52.73
-2.92%
8.65%AU$59.00AU$41.15AU$69.2114
Jul ’25AU$50.04
AU$51.61
+3.14%
8.07%AU$56.10AU$41.15AU$65.6713
Jun ’25AU$44.93
AU$50.06
+11.42%
7.30%AU$56.10AU$41.15AU$62.4012
May ’25AU$39.34
AU$47.49
+20.71%
9.07%AU$54.49AU$36.56AU$66.8112
Apr ’25AU$43.00
AU$47.55
+10.57%
9.67%AU$54.49AU$35.85AU$65.5012
Mar ’25AU$46.75
AU$46.48
-0.58%
9.23%AU$54.49AU$35.85AU$72.1012
Feb ’25AU$43.95
AU$46.05
+4.77%
9.17%AU$54.49AU$35.85AU$75.5712
Jan ’25AU$40.82
AU$45.88
+12.39%
8.54%AU$52.50AU$35.85AU$68.3612
Dec ’24AU$39.98
AU$46.35
+15.92%
7.67%AU$54.46AU$39.48AU$67.7512
Nov ’24AU$39.04
AU$45.08
+15.47%
6.72%AU$50.18AU$39.48AU$61.5012
AU$73.97
Fair Value
19.7% undervalued intrinsic discount
15
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/11/12 13:37
End of Day Share Price 2025/11/12 00:00
Earnings2025/03/31
Annual Earnings2024/09/30

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Aristocrat Leisure Limited is covered by 28 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Matthew RyanBarrenjoey Markets Pty Limited
Baxter KirkBell Potter
Sriharsh SinghBofA Global Research