Added to YB: 2025-04-25
Pitch date: 2025-03-10
PBL.TO [bullish]
Pollard Banknote Limited
-6.83%
current return
Author Info
No bio for this author
Company Info
Pollard Banknote Limited, together with its subsidiaries, manufactures and sells lottery and charitable gaming products and solutions in the United States, Canada, and internationally.
Market Cap
CAD 490.5M
Pitch Price
CAD 20.96
Price Target
42.00 (+115%)
Dividend
1.10%
EV/EBITDA
6.30
P/E
14.16
EV/Sales
1.14
Sector
Hotels, Restaurants and Leisure
Category
growth
Pollard Banknote Limited - $PBL.TO
PBL.TO: Lottery/gaming vendor with recession-resistant cash flows at 60-70¢ on dollar. Core biz (~80% rev) prints tickets for govt lotteries; building digital iLottery platform (50%+ margins vs <20% physical). Only 13/48 US jurisdictions have iLottery today. Base case 2028 target $39 (~11% IRR), with free option on future iLottery regulation ($10-15/share NPV). Family-owned, capital-light business with high barriers.
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