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What this page is: Delvantic's full research page for Brightstar Lottery Inc. (BRSL) — AI-driven forensic equity research: mechanical valuation models (DCF, EPV, anchored-PE, scenario) plus three independent AI lenses (Quality / Value / Sentiment). Everything below is rendered server-side; you are not missing content that requires JavaScript. All scores are predictions and research opinions, not financial advice.
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profile-header/price-overview— company profile, live quote, market capextended-analysis— the core: three AI lens reads with findings, scores, and the analyst memofuture-predictions— our forward price-band predictionsmarket-narrative/ai-findings/gpt-critique— narrative context, cross-model findings, and an adversarial critique of our own analysis (near the end of the document)- Members-only sections (render as login gates for anonymous readers):
price-history,income-trend,key-metrics,financials(statement tables),insider-trading. The analysis above is public; the raw data tables require a free account.
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any ticker resolves at delvantic.com/stock/TICKER ·
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Consumer Cyclical · Gambling
London, EC2M 7LS, United Kingdom
brightstarlottery.com
Price
$11.05
Market Cap
$2.0B
Employees
5,746
Beta
0.98
Avg Volume
1,734,386
Last Dividend
$0.88
CEO
Mr. Vincent L. Sadusky
Brightstar Lottery Inc. is a leading global lottery company specializing in providing secure technology, comprehensive solutions, and innovative game content to lottery operators worldwide. Following a strategic divestiture in July 2025, Brightstar now operates as a pure-play lottery business, focusing exclusively on traditional lottery operations, retail and digital systems, instant ticket services, and game creation. The company serves approximately 90 lottery customers across six continents and is the primary technology provider for more than half of U.S. lottery jurisdictions as well as several of the world’s largest lotteries, highlighting its significant reach and influence in the sector. Brightstar distinguishes itself through a strong legacy of reliability, technological expertise, and responsible gaming practices, consistently partnering with governments and regulators to deliver value and uphold integrity. With a workforce of around 6,000 employees, the company plays a central role in enabling lottery operators to generate revenue for community good causes, adapt to evolving digital trends, and enhance player experiences. Its business model emphasizes both operational excellence and innovative product development, making it a crucial enabler in the rapidly evolving global lottery ecosystem.
Runs with full report
Earnings Schedule
Checked daily · calendar updated Aug 9 No upcoming print on the calendar yet — companies typically confirm a few weeks ahead. Last print was Aug 4, 2026.
EPS surprise history — vs analyst consensus · 5 prints of vendor history
-400.0%
Dec '25
+12.5%
Feb '26
+5.8%
Apr '26
-22.2%
May '26
+57.1%
Aug '26
| Print date | EPS est. | EPS actual | Revenue est. | Revenue actual |
|---|---|---|---|---|
| Aug 4, 2026 | $0.07 | $0.11 +57.1% | — | — |
| May 12, 2026 | $0.18 | $0.14 -22.2% | — | — |
| Apr 27, 2026 | $1.21 | $1.28 +5.8% | — | — |
| Feb 24, 2026 | $0.32 | $0.36 +12.5% | — | — |
| Dec 10, 2025 | $-0.01 | $-0.05 -400.0% | — | — |
Green = beat the estimate, red = missed. An earnings print is the fastest way a thesis changes — our designations should be re-read after each one.
Recent SEC Filings
| Filed | Form | Document |
|---|---|---|
| Aug 5, 2026 | 6-K | View |
| Aug 4, 2026 | 6-K | View |
| Aug 4, 2026 | 6-K | View |
| Jul 16, 2026 | 4 | View |
| Jul 16, 2026 | 4 | View |
| Jul 16, 2026 | 4 | View |
| Jul 16, 2026 | 4 | View |
| Jul 16, 2026 | 4 | View |
| Jul 16, 2026 | 4 | View |
| Jul 10, 2026 | 3 | View |
| Jul 2, 2026 | 6-K | View |
| Jun 18, 2026 | 6-K | View |
Filings link to the SEC’s EDGAR system. Annual/quarterly reports (10-K, 10-Q, 20-F) carry the full story; 8-K/6-K current reports are the fastest signal that something material happened.
Price Overview
Last updated: Aug 9, 2026 3:52am (just now)
Current data · timestamped when a report runs
$11.05
Change · Aug 9
-0.02 (-0.18%)
Day Range
$10.93 – $11.24
52-Week Range
$9.90 – $18.57
50-Day MA
$10.99
200-Day MA
$13.35
Volume
2,728,000.00
Share Structure
Outstanding
183,687,948.00
Float
94,655,120.00
Free Float
51.5%
Normal free float
— 51.5% of shares trade freely, ~48.5% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Why there are no quarterly figures for Brightstar Lottery Inc.
This company does not file structured financial statements with the U.S. SEC, so quarterly figures aren't available from our filings-based data engine. Annual figures shown here come from the sources that do cover it.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
TD Twelve Data statement
HEX SEC filing
P/E Ratio (Price per dollar of earnings)
HEXStock Price / EPS (Diluted)
14.93
Stock Price: $11.05
EPS (Diluted): 0.74
EPS (Diluted): 0.74
P/B Ratio (Price vs net asset value)
HEXStock Price / Book Value Per Share
1.37
Stock Price: $11.05
Total Equity: $1.59B
Shares: 197,000,000
Total Equity: $1.59B
Shares: 197,000,000
EV/EBITDA (Total value vs operating profit)
HEXEnterprise Value / EBITDA
—
Market Cap: $2.03B
Total Debt: $4.18B
Cash: $1.45B
EBITDA: N/A
Total Debt: $4.18B
Cash: $1.45B
EBITDA: N/A
EBITDA not available
Enterprise Value (Takeover price (cap + debt - cash))
HEXMarket Cap + Total Debt - Cash
$4.9B
Market Cap: $2.03B
Total Debt: $4.18B
Cash: $1.45B
Total Debt: $4.18B
Cash: $1.45B
Gross Margin (Revenue left after direct costs)
HEXGross Profit / Revenue
—
Gross Profit: N/A
Revenue: $2.51B
Revenue: $2.51B
Missing from API: Gross Profit
Operating Margin (Revenue left after all operations)
HEXOperating Income / Revenue
—
Operating Income: N/A
Revenue: $2.51B
Revenue: $2.51B
Missing from API: Operating Income
Net Margin (Revenue left as actual profit)
HEXNet Income / Revenue
5.9%
Net Income: $147.00M
Revenue: $2.51B
Revenue: $2.51B
ROE (Profit from shareholder equity)
HEXNet Income / Total Equity
9.2%
Net Income: $147.00M
Total Equity: $1.59B
Total Equity: $1.59B
ROIC (Profit from all invested capital)
HEXNOPAT / Invested Capital
—
Operating Income: N/A
Tax Rate: 55.2%
Equity: $1.59B
Total Debt: $4.18B
Cash: $1.45B
Tax Rate: 55.2%
Equity: $1.59B
Total Debt: $4.18B
Cash: $1.45B
Missing from API: Operating Income
Current Ratio (Can it pay short-term bills)
HEXCurrent Assets / Current Liabilities
0.76
Current Assets: $2.34B
Current Liabilities: $3.07B
Current Liabilities: $3.07B
Debt/Equity (Leverage — debt vs equity)
HEXTotal Debt / Total Equity
2.63
Short-Term Debt: $118.00M
Long-Term Debt: $4.06B
Total Debt: $4.18B
Total Equity: $1.59B
Long-Term Debt: $4.06B
Total Debt: $4.18B
Total Equity: $1.59B
Rev/Share (Top-line per share)
HEXRevenue / Shares Outstanding
$12.75
Revenue: $2.51B
Shares: 197,000,000
Shares: 197,000,000
Book Value/Share (Net assets per share)
HEX(Total Assets - Total Liabilities) / Shares
$8.07
Total Equity: $1.59B
Shares: 197,000,000
Shares: 197,000,000
FCF/Share (Real cash generated per share)
HEX(Operating Cash Flow + CapEx) / Shares
$-2.11
Operating CF: -$99.00M
CapEx: -$316.00M
Shares: 197,000,000
CapEx: -$316.00M
Shares: 197,000,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
TDLast Annual Dividend / Stock Price
8.0%
Last Dividend: $0.88
Stock Price: $11.05
Stock Price: $11.05
Payout Ratio (Earnings paid out as dividends)
HEXDividends Paid / Net Income
523.8%
Dividends Paid: -$770.00M
Net Income: $147.00M
Net Income: $147.00M
Income Statement (Annual)
Last updated: Aug 6, 2026 10:27pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $4.1B | $4.2B | $4.3B | $2.5B | $2.5B |
| Cost of Revenue | — | — | — | — | — |
| Gross Profit | — | — | — | — | — |
| Operating Expenses | $3.2B | $3.3B | $3.3B | $1.8B | — |
| Operating Income | $902.0M | $922.0M | $1.0B | $686.0M | — |
| Net Income | $482.0M | $275.0M | $156.0M | $348.0M | $147.0M |
| EBITDA | $1.4B | $1.4B | $1.5B | $890.0M | — |
| EPS | $2.35 | $1.36 | $0.78 | $1.73 | $0.74 |
| EPS (Diluted) | $2.33 | $1.35 | $0.77 | $1.71 | $0.74 |
Balance Sheet (Annual)
Last updated: Aug 6, 2026 10:27pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $591.0M | $590.0M | $572.0M | $584.0M | $1.4B |
| Total Current Assets | $2.5B | $2.1B | $2.1B | $6.2B | $2.3B |
| Total Assets | $11.3B | $10.4B | $10.5B | $10.3B | $9.2B |
| Current Liabilities | $1.9B | $1.8B | $1.7B | $2.7B | $3.1B |
| Long-Term Debt | $6.5B | $5.7B | $5.7B | $5.2B | $4.1B |
| Total Liabilities | $9.4B | $8.5B | $8.5B | $8.2B | $7.6B |
| Total Equity | $2.0B | $2.0B | $2.0B | $2.1B | $1.6B |
| Retained Earnings | -$1.4B | -$1.2B | -$1.0B | -$660.0M | -$513.0M |
Cash Flow (Annual)
Last updated: Aug 6, 2026 10:27pm (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | $978.0M | $899.0M | $1.0B | $1.0B | -$99.0M |
| Capital Expenditure | -$238.0M | -$317.0M | -$399.0M | -$149.0M | -$316.0M |
| Free Cash Flow | $740.0M | $582.0M | $641.0M | $881.0M | -$415.0M |
| Acquisitions (net) | $0 | -$142.0M | $0 | — | — |
| Net Debt Issued / (Repaid) | -$1.5B | -$597.0M | -$801.0M | $56.0M | -$1.1B |
| Dividends Paid | -$41.0M | -$161.0M | -$160.0M | -$161.0M | -$770.0M |
| Stock Buybacks | -$41.0M | -$115.0M | $0 | $0 | -$271.0M |
| Net Change in Cash | — | — | — | — | — |
Growth Trends (YoY %)
Last updated: Aug 6, 2026 10:27pm (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +3.3% | +2.0% | -41.7% | 0.0% |
| Gross Profit Growth | — | — | — | — |
| Operating Income Growth | +2.2% | +8.6% | -31.5% | — |
| Net Income Growth | -42.9% | -43.3% | +123.1% | -57.8% |
| EBITDA Growth | -1.0% | +7.8% | -41.6% | — |
Dividend History (Last 20)
Last updated: Aug 6, 2026 10:27pm (2d ago)| Date | Dividend | Declaration | Record | Payment |
|---|---|---|---|---|
| 2026-05-28 | $0.23 | — | — | — |
| 2026-03-10 | $0.23 | — | — | — |
| 2025-11-18 | $0.22 | — | — | — |
| 2025-08-12 | $0.20 | — | — | — |
| 2025-07-14 | $3.00 | — | — | — |
| 2025-05-29 | $0.20 | — | — | — |
| 2025-03-11 | $0.20 | — | — | — |
| 2024-11-26 | $0.20 | — | — | — |
| 2024-08-13 | $0.20 | — | — | — |
| 2024-05-30 | $0.20 | — | — | — |
| 2024-03-25 | $0.20 | — | — | — |
| 2023-11-28 | $0.20 | — | — | — |
| 2023-08-14 | $0.20 | — | — | — |
| 2023-05-24 | $0.20 | — | — | — |
| 2023-03-13 | $0.20 | — | — | — |
| 2022-11-25 | $0.20 | — | — | — |
| 2022-08-15 | $0.20 | — | — | — |
| 2022-05-23 | $0.20 | — | — | — |
| 2022-03-14 | $0.20 | — | — | — |
| 2021-11-22 | $0.20 | — | — | — |
Insider Trading (Recent)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-14 | Sala Marco | M-OptionExercise | 22,311.00 | — | — |
| 2026-07-14 | Sala Marco | F-InKind | 10,159.00 | $11.04 | $112,155 |
| 2026-07-14 | Tasso Marco | M-OptionExercise | 3,291.00 | — | — |
| 2026-07-14 | Tasso Marco | F-InKind | 1,416.00 | $11.04 | $15,633 |
| 2026-07-14 | Morgan David Thomas | M-OptionExercise | 3,538.00 | — | — |
| 2026-07-14 | Morgan David Thomas | F-InKind | 1,074.00 | $10.71 | $11,503 |
| 2026-07-14 | Spears Christopher Clark | M-OptionExercise | 10,344.00 | — | — |
| 2026-07-14 | Spears Christopher Clark | F-InKind | 4,381.00 | $10.71 | $46,921 |
| 2026-07-14 | Chiara Massimiliano | M-OptionExercise | 23,881.00 | — | — |
| 2026-07-14 | Chiara Massimiliano | F-InKind | 11,511.00 | $10.71 | $123,283 |
| 2026-07-14 | Sadusky Vincent L | M-OptionExercise | 47,005.00 | — | — |
| 2026-07-14 | Sadusky Vincent L | F-InKind | 19,905.00 | $10.71 | $213,183 |
Industry Benchmarks
Compares BRSL against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for BRSL — it's generated by the pipeline (
market-narrative step).
Claude Reading
No AI findings yet for BRSL — they're generated by the
pipeline (
ai-findings step) when a report is run on this ticker.
GPT Reading
No GPT reading yet for BRSL — it's generated by the
pipeline (
gpt-critique step) after the other Big-3 seats, when a
report is run on this ticker.
Grok Reading
No Grok reading yet for BRSL — it's generated by the
pipeline (
grok-critique step) alongside the other Big-3 seats, when a
report is run on this ticker.
Advanced Analysis Forensic deep-dive · three lenses
Character & Durability Scorecard
Ten long-horizon business-character traits the Quality / Value / Sentiment lenses don’t break out, scored 1–10.
No scorecard yet for BRSL — the ten traits are scored by the
pipeline (
ext-scorecard step) when a report is run on this ticker.
No community reviews yet for BRSL.
Be the first — hit How to Contribute, have any AI review this page, and paste its take back here.
My Notes
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Data via Financial Modeling Prep · Cached for performance · twelvedata
v1.1.515 · 9f7cac68 · 2026-08-08 13:09:58