Highlights

  • Consensus rating of Hold from 11 analysts: 6 Buy or equivalent, 4 Hold, 1 Sell or equivalent.
  • Mean price target of A$1.03 against a share price of A$0.86 on 8 October 2026, an implied upside of 19.5%.
  • Analyst targets range from A$0.88 to A$1.25.
  • Group Revenue was $2,636.3 million, up 0.8%, and EBITDA before significant items was $431.7 million, up 10.3%, with the EBITDA Margin up 140 basis points to 16.4%.

Tabcorp (ASX:TAH) carries a consensus analyst rating of Hold. Of the 11 analyst recommendations recorded, 6 are Buy or equivalent, 4 are Hold and 1 is Sell or equivalent. The mean price target is A$1.03, with targets ranging from A$0.88 to A$1.25, against a current share price of A$0.86 (8 October 2026). Tabcorp Holdings Limited is a Melbourne-based wagering and media company that also provides Integrity Services.

Company name

Tabcorp

Ticker

(ASX:TAH)

Exchange

ASX (Australian Securities Exchange)

Current share price

A$0.86

Price date

8 October 2026

Number of analysts

11

Rating consensus

Hold

Consensus price target (mean)

A$1.03

Highest target

A$1.25

Lowest target

A$0.88

Implied upside/downside to mean target

Implied upside of 19.5%

Latest developments

Tabcorp (ASX:TAH) announced its full year results for the year ended 30 June 2026 (FY26) on 26 August 2026. Group revenue was $2,636.3 million, up 0.8%, and EBITDA before significant items was $431.7 million, up 10.3%, with the EBITDA margin up 140 basis points to 16.4%. EBIT before significant items was $218.7 million, up 15.9%, and NPAT before significant items was $71.1 million, up 43.6%. Statutory NPAT was $46.3 million, up 26.5%, and adjusted EPS was 5.2 cents.

The final Dividend is 1.5 cents per share, unfranked, taking the full-year dividend to 3.0 cents, up 50%. Domestic wagering turnover rose 0.9%, including Sport turnover up 8.3% and Digital-In-Venue turnover up 9.1%. Underlying costs fell 0.8%. Wagering and Media revenue rose 0.7% and EBITDA was $361.8 million, up 9.9%, while Integrity Services revenue rose 3.3% and EBITDA was $69.9 million, up 12.0%.

Net Debt was $533 million at 30 June 2026, and financial Leverage fell to 1.2 times with increased diversity of funding and extended tenor. The company said it implemented a new retail commercial model and began rolling out new betting terminals and the TAB LIVE in-play product. After year end it announced an industry agreement on a National Tote and the proposed Acquisition of wagering technology provider BetMakers, announced on 10 August 2026 and subject to conditions.

Risks and what to watch

Group revenue grew 0.8%, while the Earnings improvement reflects cost reductions and margin gains. The dividend is unfranked. The BetMakers acquisition is proposed and subject to conditions, and the National Tote has not yet launched. Non-IFRS measures such as EBITDA and NPAT before significant items are not subject to audit or review. Wagering results depend on turnover, product fees, regulation and competition.

Next milestones

Items to watch include completion of the proposed BetMakers acquisition, the launch of the National Tote, the rollout of new betting terminals and TAB LIVE, payment of the 1.5 cent final dividend, and first-half FY27 trading.