Brightstar Lottery PLC
BRSL NYSE Services-Miscellaneous Amusement & Recreation Financials FY2016–FY2025
Last close · Oct 23, 2026
$9.48
0.8%
Revenue
Total sales reported in the income statement.
$2.5B
0.0%
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
$147M
57.8%
Free cash flow
Cash from operations minus capital spending.
−$415M
146.1%
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$1.9B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
12.8x
On $0.74 EPS (TTM)
What Brightstar Lottery PLC does
No business description yet.
- Legal name
- Brightstar Lottery PLC
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 20-F · Feb 24, 2026
- Accession · CIK
- 0001628280-26-011083
0001619762
Revenue and margins
Brightstar Lottery PLC had $2.5B of revenue in fiscal 2025, down 0.0% on the year before.
FY16
Revenue $5.2B
FY17
Revenue $4.9B
FY18
Revenue $4.0B
FY19
Revenue $4.0B
FY20
Revenue $3.1B
FY21
Revenue $4.1B
FY22
Revenue $2.6B
FY23
Revenue $2.5B
FY24
Revenue $2.5B
FY25
Revenue $2.5B
FY16
Gross 88.7%
Operating 12.8%
Net 4.1%
FCF −4.0%
FY17
Gross 88.3%
Operating −1.0%
Net −21.6%
FCF −0.7%
FY18
Gross —
Operating 11.9%
Net −0.5%
FCF −11.1%
FY19
Gross —
Operating 11.9%
Net −0.5%
FCF 17.8%
FY20
Gross —
Operating −3.4%
Net −28.8%
FCF 19.6%
FY21
Gross —
Operating 22.1%
Net 11.8%
FCF 18.1%
FY22
Gross —
Operating 28.6%
Net 10.6%
FCF 28.4%
FY23
Gross —
Operating 29.7%
Net 6.2%
FCF 34.2%
FY24
Gross —
Operating 27.3%
Net 13.9%
FCF 35.9%
FY25
Gross —
Operating —
Net 5.9%
FCF −16.5%
Gross
Operating
Net
FCF
Net income and earnings per share
From fiscal 2016 to 2025, diluted EPS grew −3.8% a year. Loss periods are shown in red.
FY16
Net income $211M
FY17
Net income −$1.1B
FY18
Net income −$21.4M
FY19
Net income −$19.0M
FY20
Net income −$898M
FY21
Net income $482M
FY22
Net income $275M
FY23
Net income $156M
FY24
Net income $348M
FY25
Net income $147M
FY16
Diluted EPS $1.05
FY17
Diluted EPS −$5.26
FY18
Diluted EPS −$0.10
FY19
Diluted EPS −$0.09
FY20
Diluted EPS −$4.39
FY21
Diluted EPS $2.33
FY22
Diluted EPS $1.35
FY23
Diluted EPS $0.77
FY24
Diluted EPS $1.71
FY25
Diluted EPS $0.74
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY16
Return on capital 5.1%
Return on equity 6.9%
Return on assets 1.4%
FY17
Return on capital −0.4%
Return on equity −42.1%
Return on assets −7.1%
FY18
Return on capital 3.2%
Return on equity −1.1%
Return on assets −0.1%
FY19
Return on capital 3.4%
Return on equity −1.1%
Return on assets −0.1%
FY20
Return on capital −1.0%
Return on equity −73.7%
Return on assets −6.7%
FY21
Return on capital 8.1%
Return on equity 46.8%
Return on assets 4.0%
FY22
Return on capital 8.2%
Return on equity 20.3%
Return on assets 2.5%
FY23
Return on capital 7.4%
Return on equity 10.9%
Return on assets 1.5%
FY24
Return on capital 6.9%
Return on equity 22.5%
Return on assets 3.4%
FY25
Return on capital —
Return on equity 11.6%
Return on assets 1.5%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$415M in fiscal 2025, −16.5% of revenue. Cash from operations minus capital spending.
FY16
Free cash flow −$204M
FY17
Free cash flow −$34.6M
FY18
Free cash flow −$443M
FY19
Free cash flow $716M
FY20
Free cash flow $611M
FY21
Free cash flow $740M
FY22
Free cash flow $737M
FY23
Free cash flow $865M
FY24
Free cash flow $901M
FY25
Free cash flow −$415M
FY16
Cash from operations $338M
Capital spending $542M
FY17
Cash from operations $663M
Capital spending $698M
FY18
Cash from operations $29.6M
Capital spending $472M
FY19
Cash from operations $1.1B
Capital spending $377M
FY20
Cash from operations $866M
Capital spending $255M
FY21
Cash from operations $978M
Capital spending $238M
FY22
Cash from operations $899M
Capital spending $162M
FY23
Cash from operations $1.0B
Capital spending $147M
FY24
Cash from operations $1.1B
Capital spending $149M
FY25
Cash from operations −$99.0M
Capital spending $316M
Cash from operations
Capital spending
Dividends, buybacks and share count
Brightstar Lottery PLC returned $1.0B to shareholders in fiscal 2025. The diluted share count fell 3.4%.
FY16
Dividends $161M
Buybacks $0.0M
FY17
Dividends $163M
Buybacks —
FY18
Dividends $163M
Buybacks —
FY19
Dividends $164M
Buybacks $0.0M
FY20
Dividends $41.0M
Buybacks $0.0M
FY21
Dividends $41.0M
Buybacks $41.0M
FY22
Dividends $161M
Buybacks $115M
FY23
Dividends $160M
Buybacks $0.0M
FY24
Dividends $161M
Buybacks $0.0M
FY25
Dividends $770M
Buybacks $271M
Dividends
Buybacks
FY16
Diluted shares 0.20B
FY17
Diluted shares 0.20B
FY18
Diluted shares 0.20B
FY19
Diluted shares 0.20B
FY20
Diluted shares 0.20B
FY21
Diluted shares 0.21B
FY22
Diluted shares 0.20B
FY23
Diluted shares 0.20B
FY24
Diluted shares 0.20B
FY25
Diluted shares 0.20B
Balance sheet
Cash, debt and the ratios that show how comfortably Brightstar Lottery PLC can carry it.
FY16
Cash $294M
Debt $7.9B
FY17
Cash $1.1B
Debt $8.4B
FY18
Cash $251M
Debt $8.0B
FY19
Cash $655M
Debt $8.1B
FY20
Cash $907M
Debt $8.3B
FY21
Cash $591M
Debt $6.6B
FY22
Cash $590M
Debt $5.8B
FY23
Cash $508M
Debt $5.7B
FY24
Cash $584M
Debt $5.4B
FY25
Cash $1.4B
Debt $4.2B
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $591M | $590M | $508M | $584M | $1.4B |
| Debt incl. finance leases | $6.6B | $5.8B | $5.7B | $5.4B | $4.2B |
| Net debt / EBITDA | 4.2x | 4.2x | 5.4x | 5.4x | — |
| Debt / equity | 5.1x | 4.0x | 3.9x | 3.2x | 4.8x |
| Interest coverage | 2.6x | 2.6x | 3.6x | 3.3x | — |
| Current ratio | 1.3x | 1.2x | 1.3x | 2.3x | 0.8x |
| Quick ratio | 1.2x | 1.0x | 1.2x | 2.3x | 0.7x |
| Total assets | $11.3B | $10.4B | $10.5B | $10.3B | $9.2B |
| Total liabilities | $9.4B | $8.5B | $8.5B | $8.2B | $7.6B |
| Shareholders' equity | $1.3B | $1.4B | $1.4B | $1.7B | $875M |
| Net debt (− = net cash) | $6.0B | $5.2B | $5.2B | $4.8B | $2.8B |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✓ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Cash from operations is positive | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ |
| Return on assets rose | — | ✕ | ✓ | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✕ |
| Debt fell relative to assets | — | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Current ratio rose | — | ✕ | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ | ✕ | ✓ |
| Gross margin rose | — | ✕ | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✕ | ✕ | ✓ | ✕ | ✓ | ✕ | ✕ | ✓ | ✓ |
| F-score | — / 3 | 2 / 9 | 4 / 8 | 4 / 8 | 3 / 8 | 6 / 8 | 5 / 8 | 6 / 8 | 7 / 8 | 4 / 8 |
| Accruals ratio | −0.8% | −11.5% | −0.4% | −8.1% | −13.2% | −4.1% | −5.7% | −8.2% | −6.8% | 2.5% |
| Altman Z'' | 0.56 | −0.34 | 0.30 | 0.23 | −0.05 | 0.60 | 0.47 | 0.62 | 2.67 | — |
10 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $5.2B | $4.9B | $4.0B | $4.0B | $3.1B | $4.1B | $2.6B | $2.5B | $2.5B | $2.5B |
| Net interest income | — | −$448M | −$417M | −$411M | −$398M | −$341M | −$216M | −$207M | −$206M | −$172M |
| Gross profit | $4.6B | $4.4B | — | — | — | — | — | — | — | — |
| Research and development | $344M | $313M | $263M | $266M | $191M | $238M | $45.0M | $36.0M | $43.0M | $47.0M |
| Operating income | $660M | −$51.1M | $474M | $478M | −$107M | $902M | $743M | $752M | $686M | — |
| Interest expense | $469M | $448M | $417M | $411M | $398M | $341M | $289M | $207M | $206M | $172M |
| Pretax income | $323M | −$977M | $134M | $128M | −$848M | $529M | $772M | $488M | $521M | $299M |
| Income tax | $59.2M | −$29.4M | $144M | $131M | $28.0M | $274M | $212M | $223M | $250M | $165M |
| Net income | $211M | −$1.1B | −$21.4M | −$19.0M | −$898M | $482M | $275M | $156M | $348M | $147M |
| Diluted EPS | $1.05 | −$5.26 | −$0.10 | −$0.09 | −$4.39 | $2.33 | $1.35 | $0.77 | $1.71 | $0.74 |
| Diluted shares | 0.20B | 0.20B | 0.20B | 0.20B | 0.20B | 0.21B | 0.20B | 0.20B | 0.20B | 0.20B |
| Cash flow | ||||||||||
| Cash from operations | $338M | $663M | $29.6M | $1.1B | $866M | $978M | $899M | $1.0B | $1.1B | −$99.0M |
| Capital expenditure | $542M | $698M | $472M | $377M | $255M | $238M | $162M | $147M | $149M | $316M |
| Free cash flow | −$204M | −$34.6M | −$443M | $716M | $611M | $740M | $737M | $865M | $901M | −$415M |
| Depreciation and amortization | $882M | $802M | $607M | $614M | $566M | $526M | $492M | $215M | $204M | $221M |
| Stock-based compensation | $26.3M | $4.7M | $33.1M | $27.0M | −$7.0M | $35.0M | $34.0M | $34.0M | $38.0M | $15.0M |
| Acquisitions | $0.0M | $0.0M | — | — | $0.0M | $0.0M | $142M | $0.0M | — | — |
| Share buybacks | $0.0M | — | — | $0.0M | $0.0M | $41.0M | $115M | $0.0M | $0.0M | $271M |
| Dividends paid | $161M | $163M | $163M | $164M | $41.0M | $41.0M | $161M | $160M | $161M | $770M |
| Dividends and buybacks | $161M | $163M | $163M | $164M | $41.0M | $82.0M | $276M | $160M | $161M | $1.0B |
| Balance sheet | ||||||||||
| Cash and short-term investments | $294M | $1.1B | $251M | $655M | $907M | $591M | $590M | $508M | $584M | $1.4B |
| Total debt | $7.9B | $8.4B | $8.0B | $8.1B | $8.3B | $6.5B | $5.8B | $5.7B | $5.4B | $4.2B |
| Finance lease liabilities | — | — | — | $45.1M | $41.8M | $37.0M | $30.0M | $23.0M | $21.0M | $24.0M |
| Current assets | $2.3B | $3.1B | $2.3B | $2.6B | $3.4B | $2.5B | $2.1B | $2.1B | $6.2B | $2.3B |
| Current liabilities | $2.3B | $3.7B | $2.0B | $2.5B | $2.6B | $1.9B | $1.8B | $1.7B | $2.7B | $3.1B |
| Inventory | $347M | $320M | $283M | $162M | $169M | $183M | $254M | $110M | $113M | $116M |
| Property and equipment, net | $358M | $194M | $185M | $146M | $132M | $119M | $118M | $74.0M | $85.0M | $90.0M |
| Goodwill | $6.8B | $5.7B | $5.1B | $4.9B | $4.7B | $4.7B | $2.7B | $2.7B | $2.7B | $2.7B |
| Intangible assets | $2.9B | $2.3B | $2.0B | $1.7B | $1.6B | $1.4B | $1.4B | $87.0M | $89.0M | $125M |
| Total assets | $15.1B | $15.2B | $13.6B | $13.6B | $13.0B | $11.3B | $10.4B | $10.5B | $10.3B | $9.2B |
| Total liabilities | $11.4B | $12.4B | $10.9B | $11.2B | $11.4B | $9.4B | $8.5B | $8.5B | $8.2B | $7.6B |
| Shareholders' equity | $3.1B | $2.0B | $1.8B | $1.7B | $777M | $1.3B | $1.4B | $1.4B | $1.7B | $875M |
| Margins | ||||||||||
| Gross margin | 88.7% | 88.3% | — | — | — | — | — | — | — | — |
| Operating margin | 12.8% | −1.0% | 11.9% | 11.9% | −3.4% | 22.1% | 28.6% | 29.7% | 27.3% | — |
| EBITDA margin | 29.9% | 15.2% | 27.2% | 27.1% | 14.7% | 34.9% | 47.6% | 38.2% | 35.4% | — |
| Net margin | 4.1% | −21.6% | −0.5% | −0.5% | −28.8% | 11.8% | 10.6% | 6.2% | 13.9% | 5.9% |
| FCF margin | −4.0% | −0.7% | −11.1% | 17.8% | 19.6% | 18.1% | 28.4% | 34.2% | 35.9% | −16.5% |
| Net interest share of revenue | — | −9.1% | −10.5% | −10.2% | −12.8% | −8.3% | −8.3% | −8.2% | −8.2% | −6.8% |
| Returns | ||||||||||
| Return on capital | 5.1% | −0.4% | 3.2% | 3.4% | −1.0% | 8.1% | 8.2% | 7.4% | 6.9% | — |
| Return on capital employed | 5.2% | −0.4% | 4.1% | 4.3% | −1.0% | 9.6% | 8.7% | 8.6% | 9.0% | — |
| Return on equity | 6.9% | −42.1% | −1.1% | −1.1% | −73.7% | 46.8% | 20.3% | 10.9% | 22.5% | 11.6% |
| Return on assets | 1.4% | −7.1% | −0.1% | −0.1% | −6.7% | 4.0% | 2.5% | 1.5% | 3.4% | 1.5% |
| Growth | ||||||||||
| Revenue growth | — | −4.2% | −19.4% | 1.3% | −22.7% | 31.3% | −36.5% | −2.6% | −0.7% | −0.0% |
| Net income growth | — | −605.6% | — | — | — | — | −42.9% | −43.3% | 123.1% | −57.8% |
| EPS growth | — | −601.0% | — | — | — | — | −42.1% | −43.0% | 122.1% | −56.7% |
| FCF growth | — | — | — | — | −14.7% | 21.1% | −0.4% | 17.4% | 4.2% | −146.1% |
| Share count change | — | 0.5% | 0.5% | 0.1% | 0.2% | 1.1% | −1.9% | 0.0% | 0.5% | −3.4% |
| Financial health | ||||||||||
| Net debt / EBITDA | 4.9x | 9.7x | 7.2x | 6.8x | 16.1x | 4.2x | 4.2x | 5.4x | 5.4x | — |
| Debt / equity | 2.6x | 4.2x | 4.5x | 4.9x | 10.6x | 5.1x | 4.0x | 3.9x | 3.2x | 4.8x |
| Interest coverage | 1.4x | −0.1x | 1.1x | 1.2x | −0.3x | 2.6x | 2.6x | 3.6x | 3.3x | — |
| Current ratio | 1.0x | 0.8x | 1.1x | 1.1x | 1.3x | 1.3x | 1.2x | 1.3x | 2.3x | 0.8x |
| Quick ratio | 0.8x | 0.7x | 1.0x | 1.0x | 1.3x | 1.2x | 1.0x | 1.2x | 2.3x | 0.7x |
| Capital allocation | ||||||||||
| Capex / revenue | 10.5% | 14.1% | 11.9% | 9.4% | 8.2% | 5.8% | 6.2% | 5.8% | 5.9% | 12.6% |
| Stock comp / revenue | 0.5% | 0.1% | 0.8% | 0.7% | −0.2% | 0.9% | 1.3% | 1.3% | 1.5% | 0.6% |
| Payouts / FCF | — | — | — | 22.9% | 6.7% | 11.1% | 37.4% | 18.5% | 17.9% | — |
| Quality scores | ||||||||||
| Piotroski F-score | — | 2.0 | 4.0 | 4.0 | 3.0 | 6.0 | 5.0 | 6.0 | 7.0 | 4.0 |
| Altman Z'' | 0.6 | −0.3 | 0.3 | 0.2 | −0.0 | 0.6 | 0.5 | 0.6 | 2.7 | — |
| Accruals ratio | −0.8% | −11.5% | −0.4% | −8.1% | −13.2% | −4.1% | −5.7% | −8.2% | −6.8% | 2.5% |
Source: SEC EDGAR XBRL filings (CIK 0001619762). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.