PointsBet Holdings Limited

PBH.AX

Gambling, Resorts & Casinos · Consumer Cyclical

Price

A$0.89

+0.00 (+0.00%)

Market Cap

A$307.6M

Exchange

Australian Securities Exchange

Winston Score

–

No score yet — Winston is napping.

We couldn’t gather enough financial data to score this stock reliably.

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Share count rising — dilution

+35.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 255.4M (2022) → 345.3M (2026)

Winston Score History

The full picture

PointsBet Holdings is an Australian online sports betting and gambling company. It lets customers place bets on sports like football, basketball, horse racing, and other events through its website and mobile app. The company is best known for inventing "Points Betting," a wagering style where winnings and losses can multiply based on how right or wrong a bet turns out to be.

PointsBet makes money by keeping a portion of the money customers wager, which is a standard model for bookmakers. After selling its US business to DraftKings in 2023, the company now focuses on Australia and Canada, making it a much smaller and more focused operation than before. The Australian sports betting market is competitive, with large rivals like Sportsbet and TAB holding significant market share, and PointsBet's ability to grow depends on attracting and retaining customers without spending more on promotions than it earns back.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-12.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

<−1,000% YoY

YoY Growth Rate

Earnings declining

R&D Spend

A$0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

61.0%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~3 years

A$23M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

A$23M cash & investments at current burn rate

Revenue declining

PointsBet Holdings Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

27.2%

Modest — 27.2% gross margin

Profit after running costs

Operating Margin

-1.5%

Losing money on operations — -1.5%

Return on the money invested

ROCE

N/A

Data not available

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Growth

Sales growth

Sales YoY

N/A

Data not available

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

N/A

Data not available

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Stability

What it owes vs what it owns

Debt / Equity

N/A

Data not available

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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