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Pollard Banknote Limited

Pollard Banknote Limited

PBL.TO
Pollard Banknote LimitedCA flagToronto Stock Exchange
17.61
CAD
+0.04
- -
476.66MMarket Cap
Pollard Banknote Limited
PBL.TO
(Toronto Stock Exchange)

Recent

price

17.61

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
6.94
7.31
6.9
7.86
8.26
9.39
10.47
12.13
13.05
15.52
16.15
17.16
17.97
19.32
20.57
21.99
21.85
Revenue per Share
0.08
0.13
0.28
0.23
0.37
0.32
0.52
0.71
0.58
0.86
1.3
0.74
0.72
1.17
1.3
1.28
0.98
Basic EPS, GAAP
0.16
0.35
0.09
0.17
- -
0.15
0.24
0.81
0.68
0.14
1.59
0.81
0.78
0.98
0.74
0.91
2.09
Free Cash Flow per Basic Share
0.14
0.12
0.12
0.12
0.12
0.12
0.12
0.12
0.12
0.15
0.16
0.16
0.16
0.16
0.19
0.2
0.2
Dividend per Share
-1.76
1.19
1.14
1.42
1.38
1.66
2.04
2.32
4.13
4.59
5.45
7.8
9.03
10.04
11.45
12.75
12.82
Book Value per Share
-0.79
-0.87
-0.91
-0.68
-0.68
-0.28
0.1
-0.93
-0.08
-0.04
-0.82
0.17
1.53
2.22
3.09
3.89
3.88
Tangible Book Value per Share
24
24
24
24
24
24
24
24
25
26
26
27
27
27
27
27
27
Basic Weighted Avg Shares
163
172
162
185
194
221
246
286
332
398
414
459
484
520
557
596
591
Sales/Revenue/Turnover
4.8
5.83
7.97
7.13
8.86
8.06
8.23
9.7
9.1
8.69
10.88
6.92
3.31
1.46
3.12
0.12
-1.7
Operating Margin (%)
9
8
8
9
8
8
11
13
18
27
31
40
41
45
44
49
50
Depreciation Expense
2
3
7
5
9
7
12
17
15
22
33
20
19
31
35
35
26
Net Income, GAAP
52.22
34.72
26
41.81
30.01
38.81
28.14
29.99
28.49
24.08
27.86
27.34
13.23
16.31
32.48
33.07
35.18
Effective Tax Rate (%)
1.08
1.83
4.01
2.95
4.5
3.38
4.98
5.88
4.48
5.53
8.04
4.29
3.99
6.04
6.32
5.81
4.47
Profit Margin (%)
22
23
27
33
30
39
49
45
65
79
69
62
78
82
96
101
93
Working Capital
74
69
70
73
75
79
76
97
116
139
143
126
129
133
163
167
164
LT Debt
31
28
26
34
34
44
52
58
118
123
142
207
252
275
334
373
376
Total Equity
3.44
6.47
9.87
7.45
10.89
9.22
11.43
13.22
10.91
10.48
11.57
7.29
3.79
1.58
2.56
0.09
-1.17
Return on Invested Capital (%)
11.37
9.32
9.28
7.25
10
8.12
12.03
13.93
9.5
11.17
13.41
7.43
7.36
10.24
9.51
8.49
6.39
Return on Capital (%)
- -
- -
23.77
18.08
26.55
20.83
28.17
32.74
18.62
19.79
25.86
11.31
8.54
12.24
12.13
10.57
7.94
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
6
6
6
LT Borrowings
177
155
154
LT Finance Leases
12
12
11
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
27
27
27
Market Capitalization
615
525
490

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
252
247
234
Cash, Cash Equivalents & STI
21
28
13
Accounts Receivable, Net
94
82
81
Inventories
70
69
69
Total Current Liabilities
128
146
141
Payables & Accruals
119
137
133
ST Debt
6
6
6
Deferred Revenue
3
3
3

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
26.41%
21.9%
11.75%
Free Cash Flow
124.72%
-4.82%
24.46%
Net Income, GAAP
21.96%
6.1%
-1.55%
Sales/Revenue/Turnover
10.54%
7.57%
6.99%
Total Cash Common Dividend
- -
5.92%
5.39%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
126
138
153
140
557
2025
146
143
156
151
596
2026
142
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.26
0.44
0.67
-0.07
1.3
2025
0.43
0.3
0.38
0.17
1.28
2026
0.13
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.04
0.05
0.05
0.05
0.19
2025
0.05
0.05
0.05
0.05
0.2
2026
0.05
- -
- -
- -
- -
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Business
Pollard Banknote Limited (TSX: PBL) manufactures, develops and sells lottery and charitable gaming products worldwide, including instant tickets, licensed games, eInstant games, iLottery platforms and services, player engagement solutions such as playON and gameON, lottery management systems including sureTRACK and optiFORCE, retail merchandising products from Schafer Retail Solutions+ featuring scanACTIV in-lane solutions and Diamond Game electronic ticket machines, pull-tab tickets, bingo paper, electronic bingo systems and daubers from Clarence J. Venne LLC, handheld bingo devices, blowers and point-of-sale systems from Pacific Gaming LLC, pull-tab vending machines, and electronic pull-tab (eTab) gaming solutions; the company also provides warehousing, distribution, analytics and end-to-end logistics services to lottery operators. Pollard Banknote operates through segments encompassing lotteries, charitable gaming, eGaming systems and retail solutions, serving over 60 lottery and charitable gaming organizations in Canada, the United States, and international markets including Europe, with approximately 2,500 employees across facilities in Winnipeg (headquarters), Sault Ste. Marie and Barrhead in Canada, multiple U.S. locations such as Ypsilanti MI, Phoenix AZ, Adair and Council Bluffs IA, Chatsworth CA and Omaha NE, and sites in the UK and Austria. Tracing its origins to 1907 as a commercial printing company in Winnipeg, Manitoba, Canada, Pollard Banknote went public in 2005 and strengthened its digital capabilities through its 50%-owned joint venture NeoPollard Interactive LLC with NeoGames (a subsidiary of Aristocrat Interactive), which delivers iLottery solutions powering leading programs in U.S. jurisdictions like Michigan, North Carolina and Virginia. In recent developments, the company acquired Clarence J. Venne LLC on July 31, 2024, for US$12.6 million to bolster bingo dauber production, and Pacific Gaming LLC on April 1, 2025, for US$10.0 million to expand electronic bingo offerings including handheld devices; it secured a warehousing and distribution contract extension with the Arizona Lottery through August 2029, launched eInstant games with Norsk Tipping, West Virginia Lottery and Virginia Lottery, partnered with a third-party game designer for Catalyst iLottery platform content, and commenced Kansas iLottery operations while Washington's Lottery awarded a secondary scratch ticket printing contract through April 2030. These strategic moves, building on prior acquisitions such as Diamond Game (2017), Gamco (2018) and Compliant (2020), underscore Pollard Banknote's focus on enhancing its charitable gaming portfolio, iLottery recurring revenues—which hit quarterly records at $19.5 million in share during Q2 2025—and omnichannel innovations amid steady demand for instant tickets and eTabs.