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Lottomatica Group S.P.A.
(LTMC)
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Rating:61Neutral
Price Target:
€28.00
â–˛(14.99% Upside)
Action:Reiterated
Date:05/14/26
The score is mainly supported by strong recent growth, healthy operating margins, and robust free cash flow, but is held back by very high leverage on the balance sheet. Technicals are neutral-to-slightly positive, and valuation is reasonable but not especially attractive given the modest dividend yield.
Positive Factors
Revenue Growth Momentum
Sustained TTM revenue growth of +68.7% signals durable expansion of customer activity and product take-up across channels. Over 2-6 months this supports scale economics, stronger negotiating leverage with suppliers, and a larger base for margin and cash-flow resilience.
Negative Factors
Very High Leverage
Extremely elevated debt-to-equity (~6.0x) materially constrains financial flexibility. Over 2-6 months this raises refinancing and interest-rate sensitivity, limits capacity for M&A or large investments, and increases default risk if cash flow weakens.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth Momentum
Sustained TTM revenue growth of +68.7% signals durable expansion of customer activity and product take-up across channels. Over 2-6 months this supports scale economics, stronger negotiating leverage with suppliers, and a larger base for margin and cash-flow resilience.
Read all positive factors
Lottomatica Group S.P.A. (LTMC) vs. iShares MSCI Italy ETF (EWI)
Market Cap
€5.96B
Dividend Yield1.87%
Average Volume (3M)1.14M
Price to Earnings (P/E)29.8
Beta (1Y)0.39
Revenue Growth5.27%
EPS Growth66.36%
CountryIT
Employees2,494
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)0.79
Shares Outstanding251,630,420
10 Day Avg. Volume896,407
30 Day Avg. Volume1,136,683
Financial Highlights & Ratios
PEG Ratio0.40
Price to Book (P/B)17.15
Price to Sales (P/S)2.48
P/FCF Ratio12.47
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
€31.86Price Target Upside30.83% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)1.87
Revenue Forecast (FY)€2.42B
Lottomatica Group S.P.A. Business Overview & Revenue Model
Company Description
Incorporated in 2019 and based in Rome, Italy, Lottomatica Group S.p.A. operates as a significant entity within the Italian gaming market. The company structures its diverse operations across three primary segments: Online, Sports Franchise, and G...
How the Company Makes Money
Lottomatica makes money primarily by earning gaming revenue from wagers and stakes placed by customers across its retail and online offerings. In sports betting, it generates revenue from the margin between amounts wagered and payouts to winning c...
Lottomatica Group S.P.A. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
38
Negative
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.26B | 2.25B | 2.00B | 1.65B | 1.41B | 815.41M |
| Gross Profit | 919.45M | 901.73M | 655.50M | 669.26M | 516.32M | 644.36M |
| EBITDA | 746.56M | 712.41M | 630.73M | 545.89M | 406.73M | 175.82M |
| Net Income | 190.47M | 174.29M | 98.60M | 68.30M | 72.12M | -57.56M |
Balance Sheet | ||||||
| Total Assets | 3.46B | 3.50B | 3.44B | 3.28B | 2.76B | 2.16B |
| Cash, Cash Equivalents and Short-Term Investments | 120.66M | 145.08M | 194.55M | 296.47M | 237.00M | 153.62M |
| Total Debt | 2.06B | 2.06B | 2.02B | 2.13B | 1.86B | 1.52B |
| Total Liabilities | 3.07B | 3.13B | 2.87B | 2.74B | 2.65B | 2.15B |
| Stockholders Equity | 340.77M | 325.07M | 517.97M | 498.37M | 51.39M | -24.42M |
Cash Flow | ||||||
| Free Cash Flow | 471.62M | 446.85M | 460.64M | 284.30M | 320.95M | 80.59M |
| Operating Cash Flow | 587.63M | 509.79M | 524.34M | 407.53M | 412.01M | 130.38M |
| Investing Cash Flow | -274.06M | -295.61M | -341.35M | -640.88M | -533.28M | -794.68M |
| Financing Cash Flow | -426.11M | -234.44M | -313.52M | 293.19M | 231.10M | 643.50M |
Lottomatica Group S.P.A. Technical Analysis
Negative
24.35
Price Trends
25.42
Negative
25.38
Negative
23.17
Positive
Market Momentum
-0.30
Positive
37.43
Neutral
7.48
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IT:LTMC, the sentiment is Negative. The current price of 24.35 is below the 20-day moving average (MA) of 24.94, below the 50-day MA of 25.42, and above the 200-day MA of 23.17, indicating a neutral trend. The MACD of -0.30 indicates Positive momentum. The RSI at 37.43 is Neutral, neither overbought nor oversold. The STOCH value of 7.48 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IT:LTMC.
Lottomatica Group S.P.A. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | €7.06B | 13.20 | 8.67% | 5.00% | -0.77% | 0.10% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | €5.96B | 29.80 | ― | 1.81% | 5.27% | 66.36% | |
56 Neutral | €5.81B | 44.18 | 26.02% | 1.27% | 9.78% | 4.63% | |
55 Neutral | €1.72B | -35.10 | -8.32% | ― | -5.66% | 27.38% | |
48 Neutral | €102.71M | -7.64 | -17.82% | ― | -11.56% | 42.38% | |
40 Underperform | €861.59M | -8.59 | -169.98% | ― | 0.70% | 11.26% |
* Consumer Cyclical Sector Average
IT:LTMC
Lottomatica Group S.P.A.
23.48
0.87
3.85%
IT:GEO
Geox SpA
0.28
-0.01
-3.79%
IT:JUVE
Juventus Football Club Spa
2.03
-0.75
-27.10%
IT:SFER
Salvatore Ferragamo S.p.A.
10.18
5.27
107.25%
IT:BC
Brunello Cucinelli SpA
87.92
-8.15
-8.49%
IT:PIRC
Pirelli & C. SpA
6.60
1.12
20.39%
Lottomatica Group S.P.A. Corporate Events
Lottomatica lifts earnings on online surge and confirms top-end 2026 guidance
Jul 28, 2026
Lottomatica Group reported continued double-digit growth in the first half of 2026, driven by strong online momentum and rising market share across its digital betting and iGaming operations. Total bets reached €23.7 billion, up 9% year-on-y...
Lottomatica Expands Treasury Stock with Latest Share Buyback Tranche
Jul 22, 2026
Lottomatica Group S.p.A., a leading Italian gaming and betting company, is continuing an authorized share buyback program as part of its capital management strategy. The group operates across lottery and betting segments in Italy, leveraging both ...
Lottomatica Expands Treasury Stock Through Ongoing Share Buyback
Jul 8, 2026
Lottomatica Group S.p.A. disclosed that between 29 June and 3 July 2026 it repurchased 451,990 ordinary shares, equal to 0.180% of its outstanding stock, at an average price of €24.7154 per share for a total outlay of €11.17 million. T...
Lottomatica lifts treasury stake to 6.7% with latest buyback
Jul 1, 2026
Lottomatica Group S.p.A. reported that, under its shareholder-approved treasury share buyback program, it repurchased 224,212 ordinary shares between 22 and 26 June 2026, equal to 0.089% of its outstanding stock, at an average price of €25.5...
Lottomatica Lifts Treasury Stake as Share Buyback Advances
Jun 24, 2026
Lottomatica Group S.p.A. disclosed that, under its shareholder-approved share buyback programme, it repurchased 224,773 ordinary shares between 15 and 19 June 2026. The shares, equal to 0.089% of outstanding stock, were bought at an average price ...
Lottomatica CEO Sells Shares to Cover Taxes on Stock Options
Jun 22, 2026
Lottomatica Group S.p.A. disclosed that its chairman and CEO, Guglielmo Angelozzi, sold 55,132 ordinary shares on the Milan exchange at an average price of €26.2174 per share. The transaction was carried out on 18 June 2026 and is classified...
Lottomatica CFO Exercises Stock Options and Sells Shares to Cover Taxes
Jun 18, 2026
Lottomatica Group S.p.A. reported that Deputy CEO and Chief Financial Officer Laurence Lewis Van Lancker exercised options under the company’s 2023–2025 stock option plan, receiving ordinary shares via net share settlement at an exerci...
Lottomatica CEO Exercises Stock Options and Sells Shares to Cover Taxes
Jun 18, 2026
Lottomatica Group S.p.A. disclosed that Chairman and CEO Guglielmo Angelozzi exercised stock options under the company’s 2023-2025 stock option plan, receiving 414,619 ordinary shares via net share settlement at an exercise price of €9...
Lottomatica Lifts Treasury Stake Above 7% with June Buybacks
Jun 17, 2026
Lottomatica Group disclosed that, under its shareholder-approved buyback plan, it repurchased 195,971 ordinary shares between 8 and 12 June 2026, equal to 0.078% of its outstanding stock, at an average price of €26.627 per share for a total ...
Lottomatica Lifts Treasury Stake to Nearly 7% with Fresh Buybacks
Jun 10, 2026
Lottomatica Group S.p.A. has continued its authorized share buyback program, repurchasing 180,890 ordinary shares between 1 and 5 June 2026 at an average price of €25.7664, for a total outlay of about €4.66 million. The trades were exe...
Lottomatica lifts treasury stake to nearly 7% through ongoing buyback
Jun 3, 2026
Lottomatica Group S.p.A. has continued its treasury share buyback programme, repurchasing 215,000 ordinary shares between 25 and 29 May 2026 at an average price of €25.3457, for a total outlay of about €5.45 million. The purchases, exe...
Lottomatica Lifts Treasury Stake With Latest Share Buybacks
May 27, 2026
Lottomatica Group disclosed that, under its authorized share buyback program, it repurchased 276,000 ordinary shares between 18 and 22 May 2026, equal to 0.110% of its outstanding stock, at an average price of €25.2283 per share for a total ...
Lottomatica Lifts Treasury Stake Above 6.6% With New Buyback Tranche
May 13, 2026
Lottomatica Group S.p.A. has continued its authorized share buyback program, repurchasing 90,000 ordinary shares between May 7 and 8, 2026, at an average price of €27.5959 for a total consideration of about €2.48 million. The trades, e...
Lottomatica Publishes Board Resolution on New Bond Issue
May 8, 2026
Lottomatica Group S.p.A. has disclosed that its Board of Directors, on 20 April 2026, approved the issue and placement of a new bond loan, and the related resolution has now been made publicly available at its registered office and through designa...
Lottomatica Publishes Shareholders’ Meeting Minutes and Updated Articles of Association
May 6, 2026
Lottomatica Group S.p.A. has published the minutes of its Ordinary and Extraordinary Shareholders’ Meeting held on 20 April 2026, making them available at its Rome headquarters, on its corporate website and via the authorized storage platfor...
Lottomatica lifts Q1 earnings, cuts debt costs and targets top-range 2026 EBITDA
May 6, 2026
Lottomatica Group reported a solid first quarter of 2026, with total bets rising 11% year-on-year to €12.4 billion and gross gaming revenue up 2% to €1.25 billion. The company strengthened its position in Italy’s online market, l...
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.