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18.48 (1y: +30%)
Market Cap 4.61 B P/E(ttm) 18.20
Enterprise Value 6.15 B P/B
IGT- NYSE (USA)
International Game Technology
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$18.48
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry		 vs
history
Cash to Debt No Debt
IGT's Cash to Debt is ranked lower than
92% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 10000.00 vs. IGT: No Debt )
IGT' s 10-Year Cash to Debt Range
Min: 0.1   Max: No Debt
Current: No Debt
Interest Coverage 5.6
IGT's Interest Coverage is ranked lower than
75% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 10000.00 vs. IGT: 5.6 )
IGT' s 10-Year Interest Coverage Range
Min: 4   Max: No Debt
Current: 5.6
F-Score: 6
Z-Score: 1.89
M-Score: -2.6
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 6/10

vs
industry		 vs
history
Operating margin (%) 19.70
IGT's Operating margin (%) is ranked higher than
84% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 5.40 vs. IGT: 19.70 )
IGT' s 10-Year Operating margin (%) Range
Min: 15.2   Max: 33
Current: 19.7
15.2
33
Net-margin (%) 11.7
IGT's Net-margin (%) is ranked higher than
84% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 3.50 vs. IGT: 11.7 )
IGT' s 10-Year Net-margin (%) Range
Min: 7   Max: 19.7
Current: 11.7
7
19.7
Revenue Growth (%) 4.4
IGT's Revenue Growth (%) is ranked higher than
71% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 4.20 vs. IGT: 4.4 )
IGT' s 10-Year Revenue Growth (%) Range
Min: -5.4   Max: 17.2
Current: 4.4
-5.4
17.2
EBITDA Growth (%) 1.8
IGT's EBITDA Growth (%) is ranked higher than
81% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 6.90 vs. IGT: 1.8 )
IGT' s 10-Year EBITDA Growth (%) Range
Min: -8.2   Max: 21.7
Current: 1.8
-8.2
21.7
EPS Growth (%) 10.6
IGT's EPS Growth (%) is ranked higher than
88% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 4.85 vs. IGT: 10.6 )
IGT' s 10-Year EPS Growth (%) Range
Min: -21.5   Max: 22.1
Current: 10.6
-21.5
22.1
» IGT's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

IGT Guru Trades in Q2 2012

Ray Dalio 372,944 sh (New)
Paul Tudor Jones 29,300 sh (New)
Meridian Funds 1,767,835 sh (+80.83%)
Joel Greenblatt 65,694 sh (+10.83%)
John Rogers 7,992,815 sh (+10.41%)
Mario Gabelli 919,587 sh (+4.66%)
Robert Olstein 521,500 sh (+1.46%)
Tom Gayner 1,112,856 sh (-0.09%)
James Barrow 7,665,910 sh (-3.26%)
Steven Cohen 39,314 sh (-98.39%)
» More
Q3 2012

IGT Guru Trades in Q3 2012

Steven Cohen 1,576,459 sh (+3909.92%)
Joel Greenblatt 149,301 sh (+127.27%)
Robert Olstein 702,000 sh (+34.61%)
John Rogers 9,683,465 sh (+21.15%)
Tom Gayner 1,175,324 sh (+5.61%)
Paul Tudor Jones 30,500 sh (+4.1%)
Mario Gabelli 929,027 sh (+1.03%)
Louis Moore Bacon 100,000 sh (unchged)
Meridian Funds Sold Out
Ray Dalio Sold Out
James Barrow 7,607,790 sh (-0.76%)
» More
Q4 2012

IGT Guru Trades in Q4 2012

Pioneer Investments 11,594 sh (New)
Jim Simons 232,900 sh (New)
Louis Moore Bacon 48,500 sh (New)
Paul Tudor Jones 276,800 sh (+807.54%)
James Barrow 8,665,195 sh (+13.9%)
Joel Greenblatt Sold Out
Tom Gayner 1,169,728 sh (-0.48%)
Mario Gabelli 836,327 sh (-9.98%)
John Rogers 8,163,298 sh (-15.7%)
Robert Olstein 568,000 sh (-19.09%)
Steven Cohen 230,018 sh (-85.41%)
» More
Q1 2013

IGT Guru Trades in Q1 2013

Ray Dalio 89,444 sh (New)
Joel Greenblatt 332,990 sh (New)
James Barrow 9,154,505 sh (+5.65%)
Tom Gayner 1,195,461 sh (+2.2%)
John Rogers 8,164,363 sh (+0.01%)
Jim Simons Sold Out
Paul Tudor Jones Sold Out
Louis Moore Bacon Sold Out
Mario Gabelli 819,327 sh (-2.03%)
Pioneer Investments 10,444 sh (-9.92%)
Robert Olstein 469,000 sh (-17.43%)
Steven Cohen 39,448 sh (-82.85%)
» More
» Details

Insider Trades

Latest Guru Trades with IGT

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Joel Greenblatt 2013-03-31 New Buy0.28%$14.17 - $17.31 $ 18.4416%332990
Ray Dalio 2013-03-31 New Buy0.01%$14.17 - $17.31 $ 18.4416%89444
Joel Greenblatt 2012-12-31 Sold Out 0.13%$12.57 - $14.68 $ 18.4437%0
Meridian Funds 2012-09-30 Sold Out 0.93%$11.12 - $16 $ 18.4441%0
Ray Dalio 2012-09-30 Sold Out 0.09%$11.12 - $16 $ 18.4441%0
Joel Greenblatt 2012-09-30 Add 127.27%0.07%$11.12 - $16 $ 18.4441%149301
Meridian Funds 2012-06-30 Add 80.83%0.42%$13.42 - $17.08 $ 18.4422%1767835
Ray Dalio 2012-06-30 New Buy0.09%$13.42 - $17.08 $ 18.4422%372944
Meridian Funds 2012-03-31 New Buy0.49%$14.39 - $17.78 $ 18.4422%977600
Ray Dalio 2012-03-31 Sold Out 0.07%$14.39 - $17.78 $ 18.4422%0
Joel Greenblatt 2012-03-31 Add 44.04%0.03%$14.39 - $17.78 $ 18.4422%59276
Joel Greenblatt 2011-12-31 Add 187.98%0.06%$13.73 - $17.79 $ 18.4412%41152
Ray Dalio 2011-12-31 Reduce -48.84%0.05%$13.73 - $17.79 $ 18.4412%240412
Leon Cooperman 2011-09-30 Sold Out 0.6263%$13.54 - $18.95 $ 18.4415%0
Ray Dalio 2011-09-30 New Buy0.1%$13.54 - $18.95 $ 18.4415%469961
Joel Greenblatt 2011-09-30 New Buy0.03%$13.54 - $18.95 $ 18.4415%14290
James Barrow 2011-06-30 Add 53.43%0.1%$15.38 - $18.54 $ 18.449%7866275
Mario Gabelli 2011-03-31 Reduce -38.66%0.07%$15.27 - $18.88 $ 18.448%936487
Meridian Funds 2010-12-31 Sold Out 0.27%$14.01 - $17.55 $ 18.4416%0
Meridian Funds 2010-09-30 Reduce -42.66%0.12%$13.82 - $16.74 $ 18.4420%465560
George Soros 2010-06-30 Sold Out 0.01%$16.13 - $21.72 $ 18.44-5%0
George Soros 2010-03-31 Add 95%$16.62 - $20.64 $ 18.441%19500
Premium More recent guru trades are included for Premium Members only!!

Guru Investment Theses on International Game Technology

John Rogers Comments on International Game Technology - Oct 25, 2012

Some of our positions struggled to keep pace with the market during the quarter. Gaming manufacturer International Game Technology (IGT) fell –16.50% after an earnings miss. The company delivered $0.23 in earnings per share from $533 million in total revenue; the Street had been expecting $0.28 in EPS and 6% higher revenues. The company sees these results as a seasonal bump in the road. When it released the earnings report, it reiterated its full year guidance of $0.98 to $1.04 in earnings per share. Over the short term, the company's revenues, and therefore its earnings, are likely to bounce around a bit, especially in an uncertain economic environment in which casinos are unsure how to maneuver. Long-term, however, we continue to believe gaming is a secular growth area and see IGT as a leader in its niche. In the meantime, we applaud management's decision to take advantage of the company's bargain stock price via share repurchases. After announcing a new buyback program in mid-June, the company repurchased 23 million shares—more than 7% of shares outstanding—within seven weeks.

From Ariel Funds' third quarter commentary.


Check out John Rogers latest stock trades

Top Ranked Articles about International Game Technology

John Rogers Comments on International Game Technology
October 25, 2012
Some of our positions struggled to keep pace with the market during the quarter. Gaming manufacturer International Game Technology (IGT) fell –16.50% after an earnings miss. The company delivered $0.23 in earnings per share from $533 million in total revenue; the Street had been expecting $0.28 in EPS and 6% higher revenues. The company sees these results as a seasonal bump in the road. When it released the earnings report, it reiterated its full year guidance of $0.98 to $1.04 in earnings per share. Over the short term, the company's revenues, and therefore its earnings, are likely to bounce around a bit, especially in an uncertain economic environment in which casinos are unsure how to maneuver. Long-term, however, we continue to believe gaming is a secular growth area and see IGT as a leader in its niche. In the meantime, we applaud management's decision to take advantage of the company's bargain stock price via share repurchases. After announcing a new buyback program in mid-June, the company repurchased 23 million shares—more than 7% of shares outstanding—within seven weeks. Read more...

Ratios

vs
industry		 vs
history
P/E(ttm) 18.20
IGT's P/E(ttm) is ranked higher than
80% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 25.05 vs. IGT: 18.20 )
IGT' s 10-Year P/E(ttm) Range
Min: 6.93   Max: 52.95
Current: 18.2
6.93
52.95
P/S 2.20
IGT's P/S is ranked lower than
60% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 1.40 vs. IGT: 2.20 )
IGT' s 10-Year P/S Range
Min: 0.94   Max: 7.22
Current: 2.2
0.94
7.22
PFCF 21.50
IGT's PFCF is ranked higher than
55% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 18.41 vs. IGT: 21.50 )
IGT' s 10-Year PFCF Range
Min: 9.34   Max: 137.66
Current: 21.5
9.34
137.66
EV-to-EBIT 13.7
IGT's EV-to-EBIT is ranked higher than
83% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 18.35 vs. IGT: 13.7 )
IGT' s 10-Year EV-to-EBIT Range
Min: 6.5   Max: 26.8
Current: 13.7
6.5
26.8
PEG 4.8
IGT's PEG is ranked higher than
91% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 1.37 vs. IGT: 4.8 )
IGT' s 10-Year PEG Range
Min: 0.6   Max: 1298
Current: 4.8
0.6
1298
Shiller P/E 18.6
IGT's Shiller P/E is ranked higher than
91% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 22.91 vs. IGT: 18.6 )
IGT' s 10-Year Shiller P/E Range
Min: 5.45   Max: 60.24
Current: 18.6
5.45
60.24

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 1.50
IGT's Dividend Yield is ranked higher than
76% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 2.00 vs. IGT: 1.50 )
IGT' s 10-Year Dividend Yield Range
Min: 0.28   Max: 7.35
Current: 1.5
0.28
7.35
Dividend Payout 0.2642
IGT's Dividend Payout is ranked higher than
98% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 0.85 vs. IGT: 0.2642 )
IGT' s 10-Year Dividend Payout Range
Min: 0.16   Max: 0.64
Current: 0.26
0.16
0.64
Dividend growth (3y) 1
IGT's Dividend growth (3y) is ranked higher than
95% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: -3.10 vs. IGT: 1 )
IGT' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 30.3
Current: 1
0
30.3
Yield on cost (5-Year) 1.15
IGT's Yield on cost (5-Year) is ranked higher than
63% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 2.00 vs. IGT: 1.15 )
IGT' s 10-Year Yield on cost (5-Year) Range
Min: 0.22   Max: 5.66
Current: 1.15
0.22
5.66
Share Buyback Rate 1.3
IGT's Share Buyback Rate is ranked higher than
91% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: -1.20 vs. IGT: 1.3 )
IGT' s 10-Year Share Buyback Rate Range
Min: 4.6   Max: -4.9
Current: 1.3

Valuation & Return

vs
industry		 vs
history
Price/DCF (Projected) 1.3
IGT's Price/DCF (Projected) is ranked higher than
83% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 1.40 vs. IGT: 1.3 )
IGT' s 10-Year Price/DCF (Projected) Range
Min: 0.9   Max: 2.5
Current: 1.3
0.9
2.5
Price/Median PS Value 0.7
IGT's Price/Median PS Value is ranked higher than
62% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 0.80 vs. IGT: 0.7 )
IGT' s 10-Year Price/Median PS Value Range
Min: 0.5   Max: 1.8
Current: 0.7
0.5
1.8
Earnings Yield (Greenblatt) 7.30
IGT's Earnings Yield (Greenblatt) is ranked higher than
89% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 4.80 vs. IGT: 7.30 )
IGT' s 10-Year Earnings Yield (Greenblatt) Range
Min: 3.7   Max: 15.4
Current: 7.3
3.7
15.4
Forward Rate of Return (Yacktman) 1.6
IGT's Forward Rate of Return (Yacktman) is ranked higher than
76% of the 835 Companies
in the Global Electronic Gaming & Multimedia industry.

( Industry Median: 6.38 vs. IGT: 1.6 )
IGT' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -2.9   Max: 40.8
Current: 1.6
-2.9
40.8

Business Description

International Game Technology was incorporated in Nevada in December 1980. It is a global gaming Company specializing in the design, manufacture, and marketing of electronic gaming equipment and systems products. In addition to its main US production facilities in Nevada, the Company manufactures gaming products in the UK and through third-party manufacturers in Japan and China. The Company manages operations in two geographic segments: North America and International. North America consists of operations in the US and Canada and International encompasses its efforts in all other jurisdictions worldwide. The Company has two revenue streams within each business segment - gaming operations and product sales. It includes the sales of gaming equipment, systems, services, licensing, and component parts in Product Sales. It provides a range of electronic gaming equipment and systems, as well as licensing, services, and component parts that might be sold or placed under recurring revenue arrangements. The Company offers its customers different videos and physical reel slot machines that might be tailored to meet specific needs. It also offers multi-player community-style configurations with a common display. Electronic table games include live dealer hosted configurations with digital cards and live chips or virtual chips/electronic credits, as well as a fully virtual platform that could be approved as a slot game, providing table-like gaming for slot only or limited table jurisdictions. International gaming machines also include AWP games in Europe and pachisuro machines in Japan. IGT systems products include applications for casino management, CRM, and server-based player management. Casino management solutions include integrated modules for machine accounting, patron management, cage and table accounting, ticket-in/ticket-out, bonusing, and table game automation. The foundation of business model is built on the creation and delivery of game content through integrated casino systems solutions to machine platforms. During fiscal 2009, the Company moved beyond development and testing into the commercialization and sales phase, with the introduction of slot bank level applications and solutions. The manufacture and distribution of gaming equipment, systems, and services, as well as the operation of casinos, is subject to regulation of local and federal agencies.
Company Website
SEC Reports
Industry: Electronic Gaming & Multimedia
Compare:NTDOY, ATVI, TABCF, EA, KNM
Traded in other countries:IGT.Germany
» More Articles for IGT

Headlines

Articles On GuruFocus.com
John Rogers of Ariel Funds' Feb Market Insight - In-Depth Perspective on the Current Market Environm Mar 15 2013 
This Company Delivers Dividend Increases, Not Bad Emails Nov 26 2012 
John Rogers Comments on International Game Technology Oct 25 2012 
John Rogers' Ariel Fund Q3 Commentary Oct 25 2012 
Weekly Guru Bargains Highlights: MFRM, SID, DELL, ACI, IGT Aug 25 2012 
3 Gaming Business Giants: Hit Or Miss? Mar 04 2012 
Betting on Japan’s Legalization of Gambling Mar 01 2012 
Meridian Funds Buys AME, JLL, USTR, PLL, ABFS, Sells HOLX, DLR, FNF, IGT Feb 01 2011 
Weekly Top Insider Buys: WalMart Stores Inc., CIT Group, KeyCorp, Petrohawk Energy Corp., and Intern Mar 28 2010 
Weekly Top Insider Buys: WalMart Stores Inc., American Express Company, The Williams Companies Inc., Mar 21 2010 

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