Brightstar Lottery (BRSL) financial statements
Brightstar Lottery reported revenue of $2.5B in fiscal 2025, down 7.7% a year over 9 years.
Net income was $147M.
Free cash flow was -$415M, and the company returned $770M in dividends and $271M in net buybacks.
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Brightstar Lottery's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $5.2B | $4.9B | $4.0B | $4.0B | $3.1B | $4.1B | $2.6B | $2.5B | $2.5B | $2.5B |
| Cost of revenue | $582M | $579M | — | — | — | — | — | — | — | — |
| Gross profit | $4.6B | $4.4B | — | — | — | — | — | — | — | — |
| Research and development | $344M | $313M | $263M | $266M | $191M | $238M | $45M | $36M | $43M | $47M |
| Selling, general and admin | $946M | $816M | $846M | $850M | $707M | $810M | $400M | $246M | $235M | $215M |
| Operating income | $660M | -$51M | $474M | $478M | -$107M | $902M | $743M | $752M | $686M | — |
| Interest expense | $469M | $448M | $417M | $411M | $398M | $341M | $289M | $207M | $206M | $172M |
| Pre-tax income | $323M | -$977M | $134M | $128M | -$848M | $529M | $772M | $488M | $521M | $299M |
| Income tax | $59M | -$29M | $144M | $131M | $28M | $274M | $212M | $223M | $250M | $165M |
| Net income | $211M | -$1.1B | -$21M | -$19M | -$898M | $482M | $275M | $156M | $348M | $147M |
| EPS (diluted) | $1.05 | -$5.26 | -$0.10 | -$0.09 | -$4.39 | $2.33 | $1.35 | $0.77 | $1.71 | $0.74 |
| Diluted shares | 202M | 203M | 204M | 204M | 205M | 207M | 203M | 203M | 204M | 197M |
| Gross margin | 88.7% | 88.3% | — | — | — | — | — | — | — | — |
| Operating margin | 12.8% | -1.0% | 11.9% | 11.9% | -3.4% | 22.1% | 28.6% | 29.7% | 27.3% | — |
| Net margin | 4.1% | -21.6% | -0.5% | -0.5% | -28.8% | 11.8% | 10.6% | 6.2% | 13.9% | 5.9% |
Balance sheet
Fiscal years, from Brightstar Lottery's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $294M | $1.1B | $251M | $655M | $907M | $591M | $590M | $508M | $584M | $1.4B |
| Receivables | $947M | $938M | $949M | $875M | $846M | $903M | $670M | $403M | $468M | $526M |
| Inventory | $347M | $320M | $283M | $162M | $169M | $183M | $254M | $110M | $113M | $116M |
| Total current assets | $2.3B | $3.1B | $2.3B | $2.6B | $3.4B | $2.5B | $2.1B | $2.1B | $6.2B | $2.3B |
| Property, plant and equipment | $358M | $194M | $185M | $146M | $132M | $119M | $118M | $74M | $85M | $90M |
| Goodwill | $6.8B | $5.7B | $5.1B | $4.9B | $4.7B | $4.7B | $2.7B | $2.7B | $2.6B | $2.7B |
| Total assets | $15.1B | $15.2B | $13.6B | $13.6B | $13.0B | $11.3B | $10.4B | $10.5B | $10.3B | $9.2B |
| Total current liabilities | $2.3B | $3.7B | $2.0B | $2.5B | $2.6B | $1.9B | $1.8B | $1.7B | $2.7B | $3.1B |
| Long-term debt | $7.9B | $7.8B | $8.0B | $7.6B | $7.9B | $6.5B | $5.7B | $5.7B | $5.2B | $4.1B |
| Total liabilities | $11.4B | $12.4B | $10.9B | $11.2B | $11.4B | $9.4B | $8.5B | $8.5B | $8.2B | $7.6B |
| Shareholders' equity | $3.1B | $2.0B | $1.8B | $1.7B | $777M | $1.3B | $1.4B | $1.4B | $1.7B | $875M |
| Net debt | $7.6B | $7.3B | $7.7B | $7.4B | $7.3B | $5.9B | $5.2B | $5.1B | $4.8B | $2.7B |
Cash flow
Fiscal years, from Brightstar Lottery's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $338M | $663M | $30M | $1.1B | $866M | $978M | $899M | $1.0B | $1.1B | -$99M |
| Capital spending | $542M | $698M | $472M | $377M | $255M | $238M | $162M | $147M | $149M | $316M |
| Free cash flow | -$204M | -$35M | -$443M | $716M | $611M | $740M | $737M | $865M | $901M | -$415M |
| Stock-based compensation | $26M | $5M | $33M | $27M | -$7M | $35M | $34M | $34M | $38M | $15M |
| Dividends paid | $161M | $163M | $163M | $164M | $41M | $41M | $161M | $160M | $161M | $770M |
| Share buybacks (net) | $0 | — | — | $0 | $0 | -$41M | -$115M | $0 | $0 | -$271M |
| Net borrowing | -$358M | $8M | -$177M | $517M | -$216M | -$1.5B | -$597M | -$801M | $56M | -$1.1B |
| Free cash flow margin | -4.0% | -0.7% | -11.1% | 17.8% | 19.6% | 18.1% | 28.4% | 34.2% | 35.9% | -16.5% |
| Dividends per share | $0.80 | $0.80 | $0.80 | $0.80 | $0.20 | $0.20 | $0.79 | $0.79 | $0.79 | $3.91 |
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Open BRSL in InvestinglyQuestions
What was Brightstar Lottery's revenue in 2025?
$2.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Brightstar Lottery generate?
-$415M in fiscal 2025 (operating cash flow minus capital spending).
From Brightstar Lottery's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.