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Ainsworth Game Technology
(Sydney:AGI)
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Rating:55Neutral
Price Target:
AU$1.50
▲(45.63% Upside)
Action:Reiterated
Date:06/30/26
The score is driven primarily by mixed financial performance: a strong revenue rebound and a low-debt balance sheet are offset by volatile profitability and especially weak recent cash flow (negative operating and free cash flow in 2024–2025). Valuation is supported by the very high dividend yield, but a negative P/E reflects loss-making performance. Technical analysis could not be assessed due to missing indicators, so it has a neutral impact.
Positive Factors
Balance-sheet strength
Modest debt and substantial equity give Ainsworth durable financial flexibility versus peers. Low leverage reduces refinancing and interest risks, supporting capital expenditure for product cycles and regulatory approvals, and provides a buffer during gaming-industry cyclicality.
Negative Factors
Negative cash generation
Negative OCF and FCF across two consecutive years signal weak cash conversion and constrain reinvestment. Persistent cash outflows erode liquidity, may force external financing or asset sales, and limit the firm's ability to fund R&D, replacements, or support growth initiatives.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet strength
Modest debt and substantial equity give Ainsworth durable financial flexibility versus peers. Low leverage reduces refinancing and interest risks, supporting capital expenditure for product cycles and regulatory approvals, and provides a buffer during gaming-industry cyclicality.
Read all positive factors
Ainsworth Game Technology (AGI) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$505.19M
Dividend Yield18.81%
Average Volume (3M)317.26K
Price to Earnings (P/E)―
Beta (1Y)0.12
Revenue Growth10.12%
EPS Growth-163.44%
CountryAU
Employees575
SectorConsumer Cyclical
Sector Strength84
IndustryLeisure
Share Statistics
EPS (TTM)-0.06
Shares Outstanding336,793,900
10 Day Avg. Volume831,918
30 Day Avg. Volume317,262
Financial Highlights & Ratios
PEG Ratio0.11
Price to Book (P/B)1.03
Price to Sales (P/S)1.17
P/FCF Ratio-21.16
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.05
Revenue Forecast (FY)AU$285.24M
Ainsworth Game Technology Business Overview & Revenue Model
Company Description
Ainsworth Game Technology Limited designs, develops, manufactures, sells, and distributes gaming content and platforms, including electronic gaming machines, and other related equipment and services. The company also offers online real-money and s...
How the Company Makes Money
AGI primarily makes money by commercializing electronic gaming machines and the game content that runs on them. Key revenue streams typically include: (1) outright sale of gaming machines to casinos and other licensed gaming operators, where AGI e...
Ainsworth Game Technology Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
74
Positive
Cash Flow
38
Negative
| Breakdown | Dec 2025 | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 290.78M | 201.48M | 284.86M | 248.29M | 220.16M |
| Gross Profit | 166.62M | 97.67M | 175.25M | 167.27M | 138.02M |
| EBITDA | 47.50M | -42.13M | 58.66M | 41.04M | 26.67M |
| Net Income | -19.25M | 30.32M | -9.04M | 11.85M | 11.75M |
Balance Sheet | |||||
| Total Assets | 436.16M | 438.12M | 418.45M | 425.67M | 406.54M |
| Cash, Cash Equivalents and Short-Term Investments | 11.68M | 19.77M | 23.65M | 37.09M | 50.32M |
| Total Debt | 32.46M | 19.49M | 10.10M | 14.20M | 13.99M |
| Total Liabilities | 107.49M | 77.56M | 105.30M | 105.43M | 95.21M |
| Stockholders Equity | 328.67M | 360.56M | 313.15M | 320.24M | 311.33M |
Cash Flow | |||||
| Free Cash Flow | -16.08M | -8.17M | 10.36M | -9.85M | 49.63M |
| Operating Cash Flow | -12.77M | -2.95M | 26.47M | -5.91M | 51.34M |
| Investing Cash Flow | -5.71M | -1.55M | -29.74M | -3.84M | -5.45M |
| Financing Cash Flow | 11.27M | 5.99M | -1.34M | -427.00K | -41.51M |
Ainsworth Game Technology Technical Analysis
Positive
1.03
Price Trends
1.40
Positive
1.24
Positive
1.13
Positive
Market Momentum
0.02
Negative
56.19
Neutral
80.19
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:AGI, the sentiment is Positive. The current price of 1.03 is below the 20-day moving average (MA) of 1.37, below the 50-day MA of 1.40, and below the 200-day MA of 1.13, indicating a bullish trend. The MACD of 0.02 indicates Negative momentum. The RSI at 56.19 is Neutral, neither overbought nor oversold. The STOCH value of 80.19 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for AU:AGI.
Ainsworth Game Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | AU$36.80B | 25.61 | 23.15% | 1.60% | -1.22% | 10.79% | |
69 Neutral | AU$1.90B | 58.33 | 2.62% | 2.01% | 5.46% | ― | |
62 Neutral | AU$12.38B | 34.31 | 109.80% | 3.16% | -2.78% | -2.45% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
55 Neutral | AU$505.19M | -23.62 | -5.62% | 18.81% | 10.12% | -163.44% | |
45 Neutral | AU$196.05M | -13.60 | -13.44% | ― | 5.38% | 71.46% | |
43 Neutral | AU$643.62M | -1.16 | -57.00% | ― | -26.19% | 89.24% |
* Consumer Cyclical Sector Average
AU:AGI
Ainsworth Game Technology
1.46
0.50
52.08%
AU:ALL
Aristocrat Leisure
61.61
-4.92
-7.40%
AU:SGR
Star Entertainment Group Limited
0.11
-0.02
-12.50%
AU:TAH
Tabcorp Holdings Limited
0.84
0.08
11.11%
AU:BET
Betmakers Technology Group
0.18
0.07
75.00%
AU:TLC
Lottery Corporation Limited
5.62
0.36
6.80%
Ainsworth Game Technology Corporate Events
Ainsworth Game Technology lifts H1 outlook after U.S. tariff refund
Jul 2, 2026
Ainsworth Game Technology Limited, an ASX-listed developer and supplier of slot machines and gaming technology, operates globally with a significant U.S. footprint through its Ainsworth Game Technology Inc. subsidiary. Its revenue is driven by sal...
Ainsworth Confirms Departure of Director Daniel Gladstone With No Equity Interests
Jun 10, 2026
Ainsworth Game Technology Limited announced that director Daniel Eric Gladstone has ceased to be a director of the company as of 5 June 2026. The final director’s interest notice confirms that Gladstone held no relevant interests in Ainswort...
Ainsworth Game Technology Overhauls Board as U.S. Licence Review Clears Subsidiary
Jun 4, 2026
Ainsworth Game Technology has overhauled its board and company secretariat after independent chair Danny Gladstone and company secretary Mark Ludski resigned, following media reports about personal payments made to them more than eight years ago. ...
Ainsworth Hit With First Strike on Pay at 2026 AGM
May 27, 2026
Ainsworth Game Technology has released the voting results of its 2026 annual general meeting, detailing outcomes for all resolutions put to shareholders. Most resolutions, including several director elections, were carried with solid majorities, i...
Ainsworth Resets Strategy After Corporate Turmoil as Asia-Pacific Growth Lifts Revenue
May 26, 2026
Ainsworth Game Technology used its 2026 AGM to brief shareholders on a year marked by intense corporate activity, including a terminated scheme of arrangement, a takeover bid from majority shareholder Novomatic, and competing proportional offers f...
Ainsworth Warns of Profit Slump as North American Weakness Hits Revenue
May 22, 2026
Ainsworth Game Technology expects profit before tax of about $1 million for the six months to 30 June 2026, a sharp decline from $13.9 million a year earlier, as total revenue falls roughly 24% to around $116 million, driven mainly by weaker North...
Ainsworth Names Ryan Comstock as Permanent CEO with New Remuneration Package
May 10, 2026
Ainsworth Game Technology has confirmed the appointment of Ryan Comstock as its Chief Executive Officer with immediate effect, following his tenure as Chief Operating Officer since 2018 and a six-month period as Acting CEO beginning in October 202...
Ainsworth Clarifies Ownership After Closure of Proportional Takeover Offer
May 4, 2026
Ainsworth Game Technology has confirmed the closure of an unsolicited proportional off‑market takeover offer from Kjerulf David Hastings Ainsworth, which sought 5.5% of each shareholder’s ordinary shares that he did not already own. At...
Ainsworth Game Technology Sets Date and Details for 2026 AGM
Apr 23, 2026
Ainsworth Game Technology has issued its notice of the 2026 Annual General Meeting, confirming that the shareholder meeting will be held on 27 May 2026 at 9:00 a.m. AEST at the offices of KL Gates in Sydney. The company has also lodged accompanyin...
Ainsworth Files Updated Corporate Governance Statement with ASX
Apr 23, 2026
Ainsworth Game Technology has lodged its latest Corporate Governance Statement with the ASX, outlining the governance framework in place as at 31 December 2025. The document, authorised by the board and released via the company secretary, signals ...
Ainsworth Files 2025 Annual Report with ASX
Apr 23, 2026
Ainsworth Game Technology has lodged its Annual Report for the year ended 31 December 2025 with the Australian Securities Exchange. The report’s release formalises the company’s full-year disclosure to investors and regulators, providi...
AGI Shareholder Backs Governance Changes but Opposes Takeover Limits
Apr 14, 2026
Ainsworth Game Technology shareholder Kjerulf David Hastings Ainsworth has issued a second supplementary bidder’s statement in relation to his off-market takeover bid for 5.5% of the company’s ordinary shares, further detailing his pos...
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.