The company's financial stability appears strained with total liabilities reaching $7.4 billion against a compressed equity base of $848 million as of 2026Q1.
| Total Current Assets | 2.78B | 2.34B | 6.17B | 2.13B | 2.13B | 2.49B | 3.44B |
| Cash & Short-Term Investments | 1.27B | 1.45B | 584M | 508M | 590M | 591M | 1.11B |
| Cash Only | 1.27B | 1.45B | 584M | 508M | 590M | 591M | 1.11B |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 561M | 526M | 489M | 458M | 1.03B | 1.39B | 1.23B |
| Days Sales Outstanding | 76.95 | 76.46 | 71.05 | 66.1 | 144.9 | 123.9 | 144.26 |
| Inventory | 125M | 116M | 113M | 110M | 254M | 183M | 169.21M |
| Days Inventory Outstanding | 31.55 | 34.04 | 34.98 | 34.7 | 66.22 | 31.34 | 31.2 |
| Other Current Assets | 816M | 248M | 4.93B | 1B | 210M | 271M | 885.17M |
| Total Non-Current Assets | 6.69B | 6.82B | 4.11B | 8.34B | 8.3B | 8.84B | 9.55B |
| Property, Plant & Equipment | 891M | 860M | 767M | 799M | 1.27B | 1.37B | 1.52B |
| Fixed Asset Turnover | 2.95x | 2.92x | 3.28x | 3.17x | 2.05x | 2.99x | 2.05x |
| Goodwill | 2.7B | 2.71B | 2.65B | 2.68B | 4.48B | 4.66B | 4.71B |
| Intangible Assets | 124M | 125M | 567M | 795M | 2.28B | 2.55B | 1.58B |
| Long-Term Investments | 40M | 0 | 42M | 0 | 0 | 0 | 164.66M |
| Other Non-Current Assets | 2.98B | 3.13B | 51M | 4.03B | 232M | 227M | 1.54B |
| Total Assets | 9.46B | 9.16B | 10.28B | 10.46B | 10.43B | 11.32B | 12.99B |
| Asset Turnover | 0.26x | 0.27x | 0.24x | 0.24x | 0.25x | 0.36x | 0.24x |
| Asset Growth % | -16.86% | -10.9% | -1.79% | 0.31% | -7.85% | -12.86% | - |
| Total Current Liabilities | 3.15B | 3.07B | 2.69B | 1.69B | 1.85B | 1.91B | 2.62B |
| Accounts Payable | 730M | 766M | 718M | 643M | 731M | 1.03B | 1.13B |
| Days Payables Outstanding | 195.71 | 224.75 | 222.28 | 202.85 | 190.58 | 177.28 | 207.61 |
| Short-Term Debt | 229M | 118M | 208M | 16M | 61M | 52M | 448.36M |
| Deferred Revenue (Current) | 67M | 0 | 36M | 33M | 91M | 104M | 107.54M |
| Other Current Liabilities | 2.19B | 2.19B | 1.49B | 744M | 631M | 319M | 817.15M |
| Current Ratio | 0.88x | 0.76x | 2.29x | 1.26x | 1.15x | 1.30x | 1.32x |
| Quick Ratio | 0.84x | 0.72x | 2.25x | 1.19x | 1.01x | 1.20x | 1.25x |
| Cash Conversion Cycle | -87.21 | -114.26 | -116.25 | -102.04 | 20.54 | -22.03 | -32.16 |
| Total Non-Current Liabilities | 4.21B | 4.5B | 5.53B | 6.82B | 6.61B | 7.44B | 8.82B |
| Long-Term Debt | 3.78B | 4.06B | 5.15B | 5.65B | 5.69B | 6.48B | 7.86B |
| Capital Lease Obligations | 318M | 72M | 83M | 88M | 239M | 296M | 297.08M |
| Deferred Tax Liabilities | 635M | 0 | 208M | 218M | 305M | 415M | 333.01M |
| Other Non-Current Liabilities | 158M | 364M | 60M | 828M | 321M | 201M | 266.93M |
| Total Liabilities | 7.36B | 7.57B | 8.22B | 8.51B | 8.45B | 9.35B | 11.43B |
| Total Debt | 4.08B | 4.25B | 5.47B | 5.78B | 6.03B | 6.87B | 8.6B |
| Net Debt | 2.81B | 2.8B | 4.88B | 5.27B | 5.44B | 6.27B | 7.5B |
| Debt / Equity | 1.94x | 2.67x | 2.65x | 2.96x | 3.05x | 3.48x | 5.51x |
| Debt / EBITDA | 3.61x | 3.85x | 4.84x | 4.89x | 5.16x | 4.81x | 10.70x |
| Net Debt / EBITDA | 2.48x | 2.54x | 4.32x | 4.46x | 4.66x | 4.39x | 9.32x |
| Interest Coverage | 2.55x | 3.26x | 3.43x | 3.25x | 4.45x | 2.49x | -1.03x |
| Total Equity | 2.11B | 1.59B | 2.06B | 1.95B | 1.98B | 1.97B | 1.56B |
| Equity Growth % | -38.51% | -22.85% | 5.53% | -1.31% | 0.41% | 26.25% | - |
| Book Value per Share | 11.27 | 8.07 | 10.10 | 9.62 | 9.73 | 9.53 | 7.63 |
| Total Shareholders' Equity | 848M | 875M | 1.65B | 1.44B | 1.43B | 1.28B | 776.74M |
| Common Stock | 0 | 875M | 21M | 21M | 21M | 21M | 20.48M |
| Retained Earnings | 0 | 0 | -660M | -1.01B | -1.16B | -1.44B | -1.92B |
| Treasury Stock | 0 | 0 | -156M | -156M | -156M | -41M | 0 |
| Accumulated OCI | 0 | 0 | 516M | 521M | 529M | 412M | 329.81M |
| Minority Interest | 1.26B | 715M | 409M | 510M | 550M | 689M | 784.43M |
High leverage and liquidity
As reported in recent financial statements, BRSL's balance sheet trajectory appears increasingly strained, with total liabilities reaching $7.4 billion in 2026Q1, while equity has compressed significantly to $848 million, signaling a weakening financial position as the company navigates the capital-intensive integration of its new lottery concessions.
The persistent decline in equity relative to total assets suggests that the company is struggling to retain earnings, likely due to the heavy burden of license amortization and non-operating costs. Investors should monitor whether this trend of eroding equity continues, as it may limit the company's future flexibility to fund further license bids or operational upgrades.
Based on the company's reported figures, the debt-to-equity ratio has fluctuated significantly, reaching 1.94 in 2026Q1, which, when combined with $4.1 billion in total debt, suggests that the company's reliance on external financing remains a primary concern for long-term capital structure sustainability.
While the D/E ratio has moderated from its 2025 peak, the absolute level of debt remains high relative to the company's thin net margins. This leverage profile implies that any further increase in interest rates or a shortfall in gaming revenue could place significant pressure on the company's ability to service its obligations.
According to quarterly filings, BRSL's current ratio has struggled to maintain stability, falling to 0.88 in 2026Q1, which indicates that the company's short-term assets may be insufficient to cover its immediate liabilities without relying on external refinancing or cash flow from operations.
The volatility in the current ratio, which has swung from as high as 2.48 to below 1.0, suggests that liquidity management is highly sensitive to the timing of license payments and jackpot-driven revenue cycles. This lack of a consistent liquidity buffer warrants investigation into the company's contingency planning for potential operational shocks.
As evidenced by the balance sheet data, goodwill remains a substantial component of total assets at $2.7 billion, representing a significant portion of the $9.5 billion asset base and highlighting the company's reliance on acquired concession rights to drive future revenue growth.
The high concentration of goodwill and intangible assets suggests that the company's valuation is heavily dependent on the successful renewal and performance of its government contracts. If these concessions fail to meet performance expectations, the company may face significant impairment risks that could further erode its already thin equity base.
Quick answers to the most common questions about buying BRSL stock.
As of 2025, Brightstar Lottery (BRSL) had total assets of $9.16B including $2.34B in current assets.
Brightstar Lottery (BRSL) carries total debt of $4.25B, offset by $1.45B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Brightstar Lottery (BRSL) has total shareholders' equity (book value) of $875.0M ($8.07 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Brightstar Lottery (BRSL) reported a current ratio of 0.76x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.