Financials Playtech plc OTC Markets

Equities

PYTCY

US72814K1007

Casinos & Gaming

Market Closed - OTC Markets Other stock markets 09:38:54 10/07/2024 pm IST			5-day change	1st Jan Change
15.27 ^USD	+27.90%		+27.90%	+38.83%

20/06	Playtech to provide live streaming from MGM casino floors	AN
20/06	Playtech plc Partners with MGM Resorts International for Live Casino	CI

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	1,417	1,336	2,598	1,724	1,572	1,986	-	-
Enterprise Value (EV) ¹	1,772	1,942	3,155	2,000	1,854	2,117	1,976	1,723
P/E ratio	-72.2 x	-4.51 x	4.03 x	20.5 x	15.3 x	11.7 x	10.3 x	9.11 x
Yield	3.86%	-	-	-	-	-	1.28%	0.77%
Capitalization / Revenue	-	1.24 x	2.16 x	1.08 x	0.92 x	1.13 x	1.09 x	1.03 x
EV / Revenue	-	1.8 x	2.62 x	1.25 x	1.09 x	1.21 x	1.08 x	0.9 x
EV / EBITDA	4.63 x	7.66 x	9.95 x	4.93 x	4.29 x	4.71 x	4.09 x	3.35 x
EV / FCF	10.4 x	7.83 x	28.5 x	7 x	8.55 x	8.14 x	8.88 x	7.04 x
FCF Yield	9.63%	12.8%	3.51%	14.3%	11.7%	12.3%	11.3%	14.2%
Price to Book	1.16 x	1.49 x	1.65 x	1.02 x	0.87 x	1 x	0.93 x	0.83 x
Nbr of stocks (in thousands)	3,01,813	2,97,487	2,98,149	2,99,911	3,03,904	3,04,693	-	-
Reference price ²	4.695	4.490	8.715	5.750	5.171	6.531	6.531	6.531
Announcement Date	27/02/20	11/03/21	24/03/22	23/03/23	27/03/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	-	1,078	1,205	1,602	1,707	1,752	1,827	1,924
EBITDA ¹	383.1	253.6	317.1	405.6	432.3	449.8	483.6	514.9
EBIT ¹	-	104.4	182.8	277.5	281	303.9	333.5	360.6
Operating Margin	-	9.68%	15.17%	17.32%	16.46%	17.34%	18.26%	18.74%
Earnings before Tax (EBT) ¹	-	-52.66	605	95.6	235.8	243	276.7	311.9
Net income ¹	-	-297.3	674.6	87.6	105.1	164.7	188.7	212.4
Net margin	-	-27.57%	55.96%	5.47%	6.16%	9.4%	10.33%	11.04%
EPS ²	-0.0650	-0.9960	2.162	0.2810	0.3370	0.5580	0.6360	0.7170
Free Cash Flow ¹	170.7	248	110.8	285.5	216.9	260	222.6	244.7
FCF margin	-	23%	9.19%	17.82%	12.71%	14.84%	12.18%	12.72%
FCF Conversion (EBITDA)	44.56%	97.81%	34.94%	70.39%	50.17%	57.81%	46.03%	47.52%
FCF Conversion (Net income)	-	-	16.42%	325.91%	206.37%	157.91%	117.94%	115.23%
Dividend per Share ²	0.1810	-	-	-	-	-	0.0833	0.0500
Announcement Date	27/02/20	11/03/21	24/03/22	23/03/23	27/03/24	-	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S2	2020 S1	2020 S2	2021 S1	2021 S2	2022 S1	2022 S2
Net sales ¹	772.4	-	-	457.4	748	792.3	809.5
EBITDA ¹	192.4	-	91.25	124.1	193	-	201.8
EBIT ¹	113.2	-	-	-	-	-	132.3
Operating Margin	14.66%	-	-	-	-	-	16.34%
Earnings before Tax (EBT)	20.15	-	-	-	-	-	-
Net income	-36.35	5.43	-	-	-	-	-
Net margin	-4.71%	-	-	-	-	-	-
EPS	-0.1200	0.0180	-	-	-	-	-
Dividend per Share ²	-	-	-	-	-	-	-
Announcement Date	27/02/20	17/09/20	11/03/21	23/09/21	24/03/22	22/09/22	23/03/23

¹EUR in Million²EUR

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	355	607	557	275	283	130	-	-
Net Cash position ¹	-	-	-	-	-	-	10.2	263
Leverage (Debt/EBITDA)	0.9268 x	2.392 x	1.756 x	0.6785 x	0.6542 x	0.2895 x	-	-
Free Cash Flow ¹	171	248	111	286	217	260	223	245
ROE (net income / shareholders' equity)	10.4%	2.57%	10.3%	9.78%	8.94%	9.47%	9.35%	8.86%
ROA (Net income/ Total Assets)	4.3%	0.89%	20.1%	2.62%	-	5.33%	5.25%	5.12%
Assets ¹	-	-33,545	3,362	3,337	-	3,087	3,597	4,144
Book Value Per Share ²	4.040	3.010	5.280	5.650	5.930	6.560	6.990	7.870
Cash Flow per Share ²	1.040	1.180	0.7200	1.320	1.180	1.260	1.250	1.330
Capex ¹	150	119	114	125	150	152	252	322
Capex / Sales	-	11.03%	9.47%	7.83%	8.79%	8.69%	13.81%	16.71%
Announcement Date	27/02/20	11/03/21	24/03/22	23/03/23	27/03/24	-	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Playtech plc

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

6.531 EUR

Average target price

8.302 EUR

Spread / Average Target

+27.12%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other Casinos & Gaming

	1st Jan change	Capi.
FLUTTER ENTERTAINMENT PLC	+16.17%	36.82B
ARISTOCRAT LEISURE LIMITED	+27.17%	22.95B
EVOLUTION AB	-2.68%	22.72B
GALAXY ENTERTAINMENT GROUP LIMITED	-22.06%	19.32B
DRAFTKINGS INC.	+12.94%	19.13B
SANDS CHINA LTD	-28.93%	17.03B
CHURCHILL DOWNS INCORPORATED	+6.89%	10.64B
CAESARS ENTERTAINMENT, INC.	-15.17%	8.49B
THE LOTTERY CORPORATION LIMITED	+3.31%	7.51B

Other Casinos & Gaming