Want to see GB:PTEC full AI Analyst Report?
Top Page
Playtech
(LSE:PTEC)
Select Model
Select Model
Rating:63Neutral
Price Target:
397.00 p
▼(-1.88% Downside)
Action:Reiterated
Date:09/15/26
The score is supported by strong technical momentum and a very positive earnings call with maintained EBITDA guidance and improved free cash flow. Offsetting this are uneven underlying financial performance (volatile revenue/operating profitability and earnings-quality questions) and a very expensive valuation (P/E 243) with no dividend yield provided.
Positive Factors
Regulated B2B Growth
Growth in regulated B2B revenue indicates expanding adoption of Playtech’s software, content and platform services among licensed operators. This supports recurring, usage-linked revenue and strengthens the company’s position across markets where compliance capabilities can create durable barriers to entry.
Negative Factors
Uneven Operating Performance
Volatile revenue and inconsistent operating profitability make it harder to assess Playtech’s sustainable earnings power. The gap between weak operating results and unusually high net income also raises the risk that reported earnings will not consistently translate into durable operating returns.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated B2B Growth
Growth in regulated B2B revenue indicates expanding adoption of Playtech’s software, content and platform services among licensed operators. This supports recurring, usage-linked revenue and strengthens the company’s position across markets where compliance capabilities can create durable barriers to entry.
Read all positive factors
Playtech (PTEC) vs. iShares MSCI United Kingdom ETF (EWC)
Market Cap
£1.03B
Dividend Yield151.49%
Average Volume (3M)549.50K
Price to Earnings (P/E)217.1
Beta (1Y)0.75
Revenue GrowthN/A
EPS GrowthN/A
CountryUK
Employees7,400
SectorConsumer Cyclical
Sector Strength84
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.02
Shares Outstanding309,294,250
10 Day Avg. Volume275,181
30 Day Avg. Volume549,503
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.72
Price to Sales (P/S)1.32
P/FCF Ratio20.08
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
£400.00Price Target Upside-1.14% Downside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)0.37
Revenue Forecast (FY)£837.66M
Playtech Business Overview & Revenue Model
Company Description
Playtech Plc is a technology company delivering business intelligence driven gambling software, services, content, and platform technology to the gambling and financial trading industries. It operates through the following segments: Gaming Busines...
How the Company Makes Money
Playtech primarily makes money by licensing its gambling software and platform technology to gaming operators and by taking recurring fees linked to the activity processed through its systems.
Key revenue streams typically include:
1) Software/pl...
Playtech Earnings Call Summary
Earnings Call Date:Sep 10, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Apr 01, 2027
Earnings Call Sentiment Positive
The call was strongly positive, led by 77% adjusted EBITDA growth, EUR 101 million of free cash flow, 176% U.S. and Canada revenue growth, improved margins, U.S. profitability and a maintained full-year EBITDA outlook above EUR 270 million. Management also highlighted significant strategic progress, strong returns from Hard Rock Digital and Caliente, and continued growth investment. The main negatives were the expected H2 normalization, a lower but more sustainable Hard Rock contribution, U.K. headwinds, elevated exceptional items, remaining Snaitech cash outflows, the delayed Brazil agreement and the need for further Live optimization. Highlights significantly outweighed lowlights.Positive Updates
Adjusted EBITDA and Free Cash Flow Reached Record Levels
Adjusted EBITDA increased 77% year-on-year to EUR 163 million in H1 2026, while free cash flow reached EUR 101 million. Management described the period as a landmark step change in profitability and cash generation.
Negative Updates
Second-Half EBITDA Expected to Be Lower Than First Half
Management expects H2 adjusted EBITDA to be lower than H1, as previously stated in the 9 July trading update. EBITDA and margins are also expected to undergo a temporary normalization or rebasing in H2 and into 2027.
Read all updates
Q2-2026 Updates
Positive
Negative
Adjusted EBITDA and Free Cash Flow Reached Record Levels
Adjusted EBITDA increased 77% year-on-year to EUR 163 million in H1 2026, while free cash flow reached EUR 101 million. Management described the period as a landmark step change in profitability and cash generation.
Read all positive updates
Company Guidance
Playtech maintained its full year 2026 guidance for adjusted EBITDA of more than EUR 270 million, after confirming adjusted EBITDA would be more than EUR 155 million for H1 and more than EUR 270 million for the full year; H2 adjusted EBITDA is expected to be lower than H1. The company is ahead of schedule in delivering its medium-term targets of EUR 300 million in adjusted EBITDA and EUR 100 million in free cash flow, which will be revisited after the year-end. Management expects Hard Rock Digital’s contribution to continue at a lower but more sustainable level, with further growth from that level, and expects a temporary period of EBITDA and margin rebasing before continued revenue growth, EBITDA growth and further margin expansion. The Brazil agreement and launch are expected sometime by the beginning of next year, while exceptionals are expected to go down in H2 versus the first half and in 2027 compared to 2026.Playtech Financial Statement Overview
Summary
Income Statement
52
Neutral
Balance Sheet
63
Positive
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 785.12M | 749.81M | 848.00M | 771.90M | 1.60B | 1.21B |
| Gross Profit | 696.10M | 763.60M | 848.00M | 771.90M | 1.60B | 1.21B |
| EBITDA | 82.96M | -4.50M | 203.50M | 239.10M | 363.10M | 282.50M |
| Net Income | -20.94M | 1.46B | -23.90M | 105.10M | 87.60M | 674.60M |
Balance Sheet | ||||||
| Total Assets | 2.33B | 2.21B | 3.30B | 3.33B | 3.02B | 3.65B |
| Cash, Cash Equivalents and Short-Term Investments | 426.72M | 325.70M | 268.10M | 516.20M | 426.50M | 575.40M |
| Total Debt | 354.43M | 337.71M | 494.00M | 732.90M | 633.40M | 1.13B |
| Total Liabilities | 818.45M | 824.31M | 1.48B | 1.52B | 1.32B | 2.07B |
| Stockholders Equity | 1.51B | 1.39B | 1.82B | 1.82B | 1.70B | 1.58B |
Cash Flow | ||||||
| Free Cash Flow | 142.40M | 49.39M | 235.30M | 216.90M | 285.50M | 110.80M |
| Operating Cash Flow | 188.24M | 94.36M | 391.10M | 366.90M | 410.90M | 225.00M |
| Investing Cash Flow | -34.85M | 1.86B | -188.40M | -309.50M | -358.30M | -127.60M |
| Financing Cash Flow | -196.27M | -1.98B | -266.00M | 39.90M | -566.90M | -218.40M |
Playtech Technical Analysis
Positive
404.60
Price Trends
390.55
Negative
370.90
Positive
357.49
Positive
Market Momentum
-5.97
Negative
47.25
Neutral
69.11
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GB:PTEC, the sentiment is Positive. The current price of 404.6 is above the 20-day moving average (MA) of 370.30, above the 50-day MA of 390.55, and above the 200-day MA of 357.49, indicating a neutral trend. The MACD of -5.97 indicates Negative momentum. The RSI at 47.25 is Neutral, neither overbought nor oversold. The STOCH value of 69.11 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GB:PTEC.
Playtech Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | £76.51M | 14.49 | 15.29% | ― | >-0.01% | -27.70% | |
63 Neutral | £1.03B | 217.15 | -1.45% | 151.49% | ― | ― | |
62 Neutral | £18.29M | 55.08 | 5.70% | 0.37% | ― | ― | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | £369.12M | 12.55 | 7.83% | 4.44% | 4.98% | -32.77% | |
56 Neutral | £2.87B | -4.95 | -68.47% | 4.48% | 0.26% | -13.90% | |
51 Neutral | £191.34M | -0.35 | 76.91% | 0.04% | 0.07% | -388.74% |
* Consumer Cyclical Sector Average
GB:PTEC
Playtech
363.60
75.10
26.03%
GB:GMR
Gaming Realms
28.70
-12.90
-31.01%
GB:RNK
Rank Group plc
78.80
-39.80
-33.56%
GB:B90
B90 Holdings
4.15
-0.05
-1.19%
GB:ENT
Entain plc
448.70
-329.71
-42.36%
GB:EVOK
888 Holdings
42.65
1.05
2.52%
Playtech Corporate Events
Executive/Board ChangesRegulatory Filings and Compliance
Playtech COO Exercises 110,806 Share Options Under Long-Term Incentive Plan
Positive
Sep 22, 2026
Playtech plc disclosed that Chief Operations Officer Shimon Akad exercised options to acquire 110,806 ordinary shares in the company under the Playtech Long Term Incentive Plan 2022. The nil-cost option exercise, conducted outside a trading venue ...
Business Operations and StrategyPrivate Placements and FinancingRegulatory Filings and Compliance
Playtech Closes €350 Million Senior Secured Bond Issue
Positive
Sep 22, 2026
Playtech has completed the issuance of €350 million in 5.5% senior secured notes due 2031, following the earlier pricing of the debt securities and the publication of an offering circular for admission to trading on Euronext Dublin’s G...
Business Operations and StrategyPrivate Placements and Financing
Playtech streamlines debt with €350m bond offering
Positive
Sep 15, 2026
Playtech has priced €350 million of senior secured notes due 2031 carrying a 5.5% coupon, which are expected to be rated BB- by SP and Ba2 by Moody’s. The notes are intended for admission to trading on Euronext Dublin’s Global Ex...
Business Operations and StrategyStock BuybackFinancial Disclosures
Playtech posts record H1 profits as Americas drive growth and cash flow
Positive
Sep 10, 2026
Playtech reported a sharp improvement in first-half 2026 results, with revenue up 10% to €425.1 million and adjusted EBITDA surging 77% to €162.5 million, significantly ahead of prior market expectations. Strong free cash flow of ̈́...
Business Operations and StrategyLegal Proceedings
Playtech Says Spectrum Report Backs Black Cube Claims Against Evolution
Negative
Sep 9, 2026
Playtech has highlighted the release of the Spectrum Gaming Group report, filed by Black Cube in ongoing U.S. litigation with Evolution AB, as a key development in the dispute over Evolution’s compliance practices. The report, originally com...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.