Aristocrat Leisure (ASX:ALL) Operating Income: A$1,325 Mil (TTM As of Mar. 2026)


ASX:ALL Aristocrat Leisure Ltd ASX:ALL
93 GF Score
Price A$62.05
GF Value A$53.16
Valuation Modestly Overvalued
! 1 Warning Sign
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What is Aristocrat Leisure Operating Income?

Aristocrat Leisure ASX:ALL +0.71% 93 Operating Income is A$1,325 Mil as of Mar. 2026. GuruFocus rates ASX:ALL with a GF Score™ of 93/100 and a GF Value™ of A$53.16 (Modestly Overvalued). The stock has 1 warning sign investors should review.

Aristocrat Leisure's Operating Income for the six months ended in Mar. 2026 was A$581 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was A$1,325 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Aristocrat Leisure's Operating Income for the six months ended in Mar. 2026 was A$581 Mil. Aristocrat Leisure's Revenue for the six months ended in Mar. 2026 was A$3,028 Mil. Therefore, Aristocrat Leisure's Operating Margin % for the quarter that ended in Mar. 2026 was 19.17%.

Good Sign:

Aristocrat Leisure Ltd operating margin is expanding. Margin expansion is usually a good sign.

Aristocrat Leisure's 5-Year average Growth Rate for Operating Margin % was 30.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Aristocrat Leisure's annualized ROC % for the quarter that ended in Mar. 2026 was 10.14%. Aristocrat Leisure's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 237.63%.

Aristocrat Leisure  (ASX:ALL) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Aristocrat Leisure's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=1161.2 * ( 1 - 28.68% )/( (8213.9 + 8125.9)/ 2 )
=828.16784/8169.9
=10.14 %

where

Invested Capital(Q: Sep. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=10392.5 - 1015.6 - ( 1291.4 - max(0, 1798.7 - 2961.7+1291.4))
=8213.9

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=9644 - 866 - ( 652.1 - max(0, 1592.4 - 2548.6+652.1))
=8125.9

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

Aristocrat Leisure's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2351.6/( ( (780.8 + max(-113.4, 0)) + (740.6 + max(457.8, 0)) )/ 2 )
=2351.6/( ( 780.8 + 1198.4 )/ 2 )
=2351.6/989.6
=237.63 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1136 + 264.1 + 126.1) - (1015.6 + 399 + 225)
=-113.4

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1329.8 + 287.1 + 279.6) - (866 + 193.8 + 378.9)
=457.8

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Aristocrat Leisure's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=580.6/3028.2
=19.17 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Aristocrat Leisure Operating Income Related Terms

Aristocrat Leisure Operating Income Historical Data

* Premium members only.

The historical data trend for Aristocrat Leisure's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Aristocrat Leisure Operating Income Chart

Aristocrat Leisure Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 773.30 1,093.80 1,318.40 1,433.10 1,382.10

Aristocrat Leisure Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 727.60 705.50 638.00 744.10 580.60
ASX:ALL
93GF Score
Aristocrat Leisure Ltd ASX:ALL
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Aristocrat Leisure Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$1,325 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of A$1,325 Mil mean?
Aristocrat Leisure (ASX:ALL) has a Operating Income of A$1,325 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Aristocrat Leisure and its competitors.
Is Aristocrat Leisure's Operating Income too high?
Aristocrat Leisure's current Operating Income is A$1,325 Mil. Overall, Aristocrat Leisure has a GF Score™ of 93/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aristocrat Leisure's Operating Income compare to FLUT and DKNG?
Aristocrat Leisure's Operating Income of A$1,325 Mil can be compared against companies in the Travel & Leisure industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Travel & Leisure company?
A good Operating Income depends on the Travel & Leisure industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Aristocrat Leisure and its competitors. Aristocrat Leisure's current Operating Income is A$1,325 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aristocrat Leisure stock overvalued right now?
Based on GuruFocus' analysis, Aristocrat Leisure (ASX:ALL) is currently considered Modestly Overvalued. The stock's GF Value™ is A$53.16, compared to a current price of A$62.05 — trading 16.7% above its estimated fair value. The current Operating Income is A$1,325 Mil. Aristocrat Leisure's overall GF Score™ is 93/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Aristocrat Leisure (ASX:ALL), the current Operating Income is A$1,325 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Aristocrat Leisure (ASX:ALL) Overvalued in 2026?

Based on GuruFocus' analysis, Aristocrat Leisure stock appears to be overvalued. The current stock price of A$62.05 is trading 16.7% above its estimated GF Value™ of A$53.16. GuruFocus considers Aristocrat Leisure to be Modestly Overvalued.

Key valuation signals for ASX:ALL:

  • Operating Income: A$1,325 Mil
  • GF Value™: A$53.16 vs. price of A$62.05 (16.7% above fair value)
  • GF Score™: 93/100 with 1 warning sign

No single metric tells the full story. See the ASX:ALL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Aristocrat Leisure Business Description

Other Exchanges ARLUF:USA
Address 85 Epping Road, Building A, Pinnacle Office Park, North Ryde, Sydney, NSW, AUS, 2113
Aristocrat Leisure is an electronic gaming machine manufacturer that sells machines to pubs, clubs, and casinos. The firm is licensed in all Australian states and territories, North American jurisdictions, and essentially every major country. Aristocrat is one of the top three largest players in the space along with International Game Technology and Light & Wonder. The company also develops and distributes mobile games, principally in the social casino niche. The more nascent iGaming business sits between these two businesses, providing digital content and capabilities to real-money gaming providers.
93GF Score

Get the complete analysis for ASX:ALL

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$62.05
Price
A$53.16
GF Value