Aristocrat Leisure reported A$6,297.0 million in revenue from continuing operations for the financial year ended 30 September 2025, compared with a restated A$5,673.4 million for FY2024. Profit after tax from continuing operations was A$1,184.1 million. The subsequent interim report, for the six months ended 31 March 2026, recorded continuing revenue of A$3,028.2 million and continuing profit after tax of A$798.5 million.
These figures need their accounting labels. Aristocrat also reported profit from discontinued operations, while management uses a separate normalised earnings measure. This guide explains the periods and definitions behind the company's published financial results, rather than treating every number called “profit” as interchangeable.
Latest Aristocrat Leisure Results at a Glance
| Reporting Period | Status and Scope | Continuing Revenue | Continuing Profit After Tax |
|---|---|---|---|
| FY2025 - year ended 30 September 2025 | Annual, audited group statements | A$6,297.0m | A$1,184.1m |
| H1 FY2026 - six months ended 31 March 2026 | Interim group statements | A$3,028.2m | A$798.5m |
The financial year runs from 1 October to 30 September. Consequently, H1 FY2026 covers October 2025 to March 2026, not the first six months of the calendar year. It is not a full-year result and should not be compared directly with a twelve-month total to calculate a growth rate.
As at 3 November 2026, FY2025 was the latest full annual reporting period available in Aristocrat's official investor archive. The half-year FY2026 report supplies newer information, but the next full FY2026 results were not yet established as published at that research date. A reader revisiting this article after a new filing should check the official investor archive before treating these figures as the latest.
The key difference: revenue is not profit, continuing operations exclude businesses presented as discontinued, and normalised NPATA is not the statutory profit attributable to the financial period.
Revenue and Profit: FY2024, FY2025 and H1 FY2026
The figures below are from Aristocrat Leisure Limited's consolidated financial statements, not the standalone accounts of an operating subsidiary. Values are A$ million. The FY2024 column is the comparative as presented in the FY2025 annual report following the Plarium disposal; H1 FY2026 is a separate six-month reporting period.
| Statutory Measure (A$ million) | FY2024 Comparative | FY2025 | H1 FY2026 |
|---|---|---|---|
| Revenue - continuing operations | 5,673.4 | 6,297.0 | 3,028.2 |
| Gross profit - continuing operations | 3,552.5 | 3,837.6 | 1,857.1 |
| Profit before tax - continuing operations | 1,565.6 | 1,818.8 | 1,119.6 |
| Profit after tax - continuing operations | 1,150.8 | 1,184.1 | 798.5 |
| Profit after tax - discontinued operations | 152.6 | 456.2 | 7.0 |
| Total statutory profit for the period | 1,303.4 | 1,640.3 | 805.5 |
How to read the table: FY2025 continuing revenue exceeded the comparable FY2024 figure by A$623.6 million, or approximately 11.0%. Continuing profit after tax rose by A$33.3 million, approximately 2.9%. The difference between those growth rates shows why sales growth alone cannot be treated as earnings growth. Costs, financing, tax and other reported items affect the result.
The A$1,640.3 million total statutory profit for FY2025 includes A$456.2 million from discontinued operations. That discontinued amount is not evidence that the continuing three-segment business earned all of the group's reported profit. Similarly, the total profit for H1 FY2026 includes A$7.0 million from discontinued operations. The headline number can change materially depending on whether those items are included.
Aristocrat's FY2025 annual report also distinguishes its reported accounting outcome from management's normalised measures, including material non-routine effects. Neither series should be substituted for the other without an explicit reconciliation.
Why FY2023 Is Not Directly Comparable
Aristocrat sold Plarium in February 2025. Its FY2025 statements restated FY2024 comparisons to present Plarium as a discontinued operation. The table therefore uses the FY2025 report's comparative basis, not older, unadjusted headlines.
For historical context, Aristocrat's five-year financial summary reports statutory net profit of A$1,454.1 million for FY2023. The figure is independently corroborated by the group's FY2024 consolidated income statement. It is a historical group measure, not directly comparable with the later continuing-operations series without adjusting for the reporting scope and subsequent discontinued operations.
An aligned growth series requires the same entity, accounting basis, currency and treatment of disposals. We therefore do not calculate a FY2023-FY2025 compound annual growth rate from these mismatched figures.
Aristocrat completed the NeoGames acquisition in April 2024. Its partial-year contribution and subsequent full-year contribution also require care when interpreting growth.
Financial Performance by Business Segment
The three reporting businesses are Aristocrat Gaming, Product Madness and Aristocrat Interactive. Their commercial models differ: land-based machines and gaming operations, social casino mobile publishing, and technology/content supplied to regulated online gaming customers.
The H1 FY2026 interim management review provides this comparable segment revenue presentation, with the prior six-month period shown on the same basis and in reported Australian dollars:
| Segment Revenue (A$ million) | H1 FY2025 | H1 FY2026 | Reported Change |
|---|---|---|---|
| Aristocrat Gaming | 1,869.9 | 1,960.6 | +4.9% |
| Product Madness | 901.0 | 805.6 | −10.6% |
| Aristocrat Interactive | 263.6 | 262.0 | −0.6% |
| Total segment revenue | 3,034.5 | 3,028.2 | −0.2% |
This segment view explains how total revenue could be broadly flat while individual businesses moved differently. Gaming reported an increase, Product Madness declined in reported currency, and Interactive was approximately level. These are revenue movements, not necessarily changes in underlying profitability or market share.
Management also provided constant-currency comparisons, which adjust translation effects rather than replacing statutory reported revenue. On that basis, the interim review cited growth of approximately 11.8% for Gaming, a 4.1% decline for Product Madness and 3.9% growth for Interactive. Reported and constant-currency figures answer different questions; neither is inherently a correction of the other.
In its discussion, Aristocrat linked Gaming's performance to its installed base and outright equipment sales. For Product Madness it referred to social casino bookings, direct-to-consumer activity and changing platform costs. For Interactive, management pointed to growth in iLottery and content alongside a decision to exit the white-label business. These are management's explanations for the period, not proof that a single factor caused every movement.
The segment profit figures are also management performance measures, with adjustments described in the report. They should not be added casually to produce statutory profit after tax: corporate costs, financing, tax, amortisation and other items sit between the segment view and the consolidated financial statements.
Cash Flow, Cash, Liabilities and Capital
Profit and cash are different measures. Revenue and expenses follow accounting recognition rules; cash-flow statements record actual receipts and payments. A group can report substantial accounting profit while also deploying cash into machines, acquisitions, debt repayments or returns to shareholders.
| Balance Sheet (A$ million, period end) | 30 Sep 2024 | 30 Sep 2025 | 31 Mar 2026 |
|---|---|---|---|
| Cash and cash equivalents | 943.8 | 1,281.8 | 641.1 |
| Total assets | 10,303.4 | 10,392.5 | 9,644.0 |
| Total liabilities | 4,023.5 | 3,835.3 | 3,471.3 |
| Total equity | 6,279.9 | 6,557.2 | 6,172.7 |
The group reported A$1,933.7 million of net cash from operating activities in FY2025, compared with A$1,765.2 million in FY2024. In H1 FY2026, operating cash inflow was A$820.1 million. The latter figure is for six months and should not be placed beside a full-year cash flow as a like-for-like result.
Cash at 31 March 2026 was lower than at the preceding September year-end. The interim review associated the reduction primarily with share buy-backs, dividends and acquisitions, partly offset by operating cash generation. That should not be simplified into a claim that the underlying businesses were unprofitable. Cash balances also reflect the timing of capital allocation and financing decisions.
At 31 March 2026, Aristocrat reported A$1,589.7 million in gross debt and A$948.6 million in net debt in its interim balance-sheet review. Net debt is a defined financing measure, not the same as total liabilities; the latter includes payables and other obligations. Describing the group as “debt-free” would therefore be inaccurate.
How to Read Aristocrat's Earnings Figures
Statutory profit comes from the consolidated income statement; the continuing-operations figure excludes separately presented discontinued results. Total statutory profit includes both.
Aristocrat also reports normalised NPATA - net profit after tax and before amortisation of acquired intangibles, adjusted for specified significant items and the discontinued businesses under its published reconciliation. For FY2025, the group reported A$1,550.7 million normalised NPATA, compared with A$1,382.0 million for FY2024 on its comparative presentation. In H1 FY2026, it reported A$794.0 million. Those figures are useful for understanding management's view of ongoing performance, but they are not the statutory profit line.
For FY2025, the three relevant figures were A$1,640.3 million total statutory profit, A$1,184.1 million continuing profit after tax, and A$1,550.7 million normalised NPATA. The reconciliation accounts for amortisation, significant items and Plarium's discontinued result.
Earnings per share present another layer: they relate profit to shares and can be affected by changes in share count. Live share prices, valuation multiples and forecasts belong to market analysis, not to this historical report of revenue and earnings.
What These Results Tell Us
Continuing revenue grew in FY2025, while H1 FY2026 reported segment revenue was broadly stable. Sound interpretation requires equivalent periods, currencies and operating scopes, with each profit measure named.
The annual and interim reports provide the definitions behind the figures; an isolated earnings headline does not.
Sources and Verification
Official documents reviewed on 3 November 2026 - Aristocrat Leisure Limited, Annual Report 2025, consolidated financial statements, operating review and NPATA reconciliation - Aristocrat Leisure Limited, Half-Year Report, 31 March 2026, statutory statements, segment review, balance sheet and cash flows - Aristocrat Leisure Limited, Annual Reports archive - Aristocrat Leisure Limited, FY2024 consolidated statement of profit or loss (FY2023 statutory comparator)