Brightstar Lottery PLC (BRSL) is undervalued and Super Group (SGHC) Limited (SGHC) is undervalued.
Against our estimates of intrinsic value, BRSL trades at the wider discount: a margin of safety of +33%, against +28% for SGHC.
Values as of the 22 Sept 2026 close.
Discounting its cash flows at 6.7% (average of 3 methods) values the shares at $15.50; the price of $10.42 is 33% below that value, and 84% of that value comes from beyond year five.
Leak Score 56/100 on 2 of 12 signals
Discounting its cash flows at 10.2% (average of 3 methods) values the shares at $17.12; the price of $12.35 is 28% below that value, and 73% of that value comes from beyond year five.
Leak Score 100/100 on 3 of 12 signals
| Metric | BRSL | SGHC |
|---|---|---|
| Verdict | Undervalued | Undervalued |
| Price | $10.42 | $12.35 |
| Intrinsic value | $15.50 | $17.12 |
| Margin of safety | +33% | +28% |
| Leak Score | 56/100 (2/12) | 100/100 (3/12) |
| Market cap | $1.9B | $6.3B |
| Revenue growth, 5 years | -4.3% | 16.6% |
| Operating margin | 24.6% | 21.3% |
| Net margin | 6.9% | 15.2% |
| Return on equity | 15.7% | 49.4% |
| Debt to equity | 5.23 | 0.13 |
| P/E | 11.6x | 17.0x |
| Forward P/E | 13.7x | 12.6x |
| P/B | 2.3x | 7.5x |
| Dividend yield | 8.8% | 1.6% |