# Lottomatica Group SpA (LTMC.MI)

Canonical: https://gigainvestors.com/s/LTMC.MI

Analysis as of: 2026-10-16T07:36:36.251Z. 

Listing currency: EUR. Reporting currency: EUR.

## Verdict

Not enough history yet

Quality tests for Buy: not passed (profit record: pass; earnings resilience is evidence only). Published buy qualification: no.

Share price: EUR 23.84 per share; close as of 2026-10-14.

## Checklist

### understandable: na

### moat: na

### economics: na

### management: na

### accounting: na

## Holders

## Price story

Up 167% since Oct 2023

Story as of 2026-10-16T10:01:27.625Z; price observation 2026-10-14.

## Owner memo

Memo as of 2026-10-16T08:06:05.509Z.

### How it makes money

Operates in gambling; annual sales are EUR 2.3 billion.

- Source: https://filings.xbrl.org/549300R72LKEGT4EX026/2025-12-31/ESEF/IT/1/549300R72LKEGT4EX026-2025-12-31-1-en.json (filed 2026-03-24); FY2025: revenue 2262004000; grossProfit 1210430000; margin = grossProfit / revenue.

### Why customers stay

Margins ranged from 51.2% to 53.5% during 2023–25.

- Source: https://eodhd.com/api/fundamentals/I56.F.json#2023-12-31 (filed 2026-03-24); FY2023: grossProfit / revenue = 51.2%.

- Source: https://eodhd.com/api/fundamentals/I56.F.json#2024-12-31 (filed 2026-03-24); FY2024: grossProfit / revenue = 51.3%.

- Source: https://eodhd.com/api/fundamentals/I56.F.json#2025-12-31 (filed 2026-03-24); FY2025: grossProfit / revenue = 53.5%.

### Where the cash goes

Reinvests 26.3% of cash earnings; paid dividends in 5 of 5 years.

- Source: https://eodhd.com/api/fundamentals/I56.F.json#2021-12-31 (filed 2026-03-24); FY2021: growth capex 0; upkeep 49788000; owner earnings 21465600. Growth capex / owner earnings = 0.

- Source: https://eodhd.com/api/fundamentals/I56.F.json#2022-12-31 (filed 2026-03-24); FY2022: growth capex 0; upkeep 91062000; cash acquisitions 124867000; owner earnings 121721000. Growth capex plus acquisitions / owner earnings = 1.025845992063818.

- Source: https://eodhd.com/api/fundamentals/I56.F.json#2023-12-31 (filed 2026-03-24); FY2023: growth capex 0; upkeep 123235000; cash acquisitions 13486000; owner earnings 124204400. Growth capex plus acquisitions / owner earnings = 0.10857908415482866.

- Source: https://eodhd.com/api/fundamentals/I56.F.json#2024-12-31 (filed 2026-03-24); FY2024: growth capex 0; upkeep 181412000; cash acquisitions 60852000; owner earnings 145304200. Growth capex plus acquisitions / owner earnings = 0.41879037219846366.

- Source: https://eodhd.com/api/fundamentals/I56.F.json#2025-12-31 (filed 2026-03-24); FY2025: growth capex 0; upkeep 228934000; cash acquisitions 50215000; owner earnings 190964268.46682534. Growth capex plus acquisitions / owner earnings = 0.2629549517465014.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-24); Dividend observations: [[2021,249740000],[2022,19341000],[2023,1981000],[2024,67113000],[2025,78166000]]. Zero only counted when supported by a complete cash-flow statement.

- Source: https://filings.xbrl.org/549300R72LKEGT4EX026/2025-12-31/ESEF/IT/1/549300R72LKEGT4EX026-2025-12-31-1-en.json (filed 2026-03-24); FY2025: cash repurchases 298724000 EUR.

### Are managers owners

Insiders own 0% of the company.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-10-01); LOTMY.US SharesStats.PercentInsiders = 0 percentage points; cache date 2026-10-01.

### What the price says

The price is 2.5 times annual sales.

- Source: https://eodhd.com/financial-apis/stock-etfs-fundamental-data-feeds/ (filed 2026-03-24); Closing price 23.84000015258789 EUR; reporting-to-trading FX 1; FY2025 annual sales per share 9.502832990316119; price multiple 2.5087255744557537. FY2025 cash earnings/share 0.8022539086394771. Closing-price date 2026-10-14.

## Monthly share-price history (EUR per share)

- 2023-06: EUR 8.72 per share

- 2023-07: EUR 9.45 per share

- 2023-08: EUR 9.00 per share

- 2023-09: EUR 8.81 per share

- 2023-10: EUR 8.94 per share

- 2023-11: EUR 9.44 per share

- 2023-12: EUR 9.79 per share

- 2024-01: EUR 10.74 per share

- 2024-02: EUR 11.10 per share

- 2024-03: EUR 11.11 per share

- 2024-04: EUR 10.88 per share

- 2024-05: EUR 11.04 per share

- 2024-06: EUR 11.29 per share

- 2024-07: EUR 11.29 per share

- 2024-08: EUR 11.76 per share

- 2024-09: EUR 11.25 per share

- 2024-10: EUR 11.50 per share

- 2024-11: EUR 12.58 per share

- 2024-12: EUR 12.84 per share

- 2025-01: EUR 14.78 per share

- 2025-02: EUR 16.57 per share

- 2025-03: EUR 18.61 per share

- 2025-04: EUR 20.04 per share

- 2025-05: EUR 23.16 per share

- 2025-06: EUR 23.56 per share

- 2025-07: EUR 23.64 per share

- 2025-08: EUR 23.22 per share

- 2025-09: EUR 22.92 per share

- 2025-10: EUR 21.38 per share

- 2025-11: EUR 22.02 per share

- 2025-12: EUR 22.40 per share

- 2026-01: EUR 20.72 per share

- 2026-02: EUR 20.54 per share

- 2026-03: EUR 24.76 per share

- 2026-04: EUR 25.08 per share

- 2026-05: EUR 25.42 per share

- 2026-06: EUR 24.30 per share

- 2026-07: EUR 23.48 per share

- 2026-08: EUR 25.42 per share

- 2026-09: EUR 25.53 per share

- 2026-10: EUR 24.06 per share

## Annual estimated value (EUR per share)

Historical values use today's bond yield for every fiscal year

Historical values use today's FX rate into trading currency for every fiscal year

Historical values use current restated fundamentals and current commodity classification; they are not point-in-time estimates

## Sources

[Original ESEF filing](https://filings.xbrl.org/549300R72LKEGT4EX026/2025-12-31/ESEF/IT/0/549300R72LKEGT4EX026-2025-12-31-1-it/reports/549300R72LKEGT4EX026-2025-12-31-1-it.html); period 2025-12-31, filed 2026-03-24.

Estimates depend on assumptions and are not guarantees or investment advice. Underlying data remains subject to its source licenses; public reading does not grant bulk redistribution rights.