2 ASX 200 stocks to buy in February

Two ASX stocks that stand out right now for investors seeking a blend of resilience and clear near term earnings catalysts. Both Amcor and Jumbo Interactive are leveraging recent acquisition to accelerate growth while positioning for sustained cash generation and disciplined capital returns

Amcor Plc (ASX: AMC) 

is a global packaging leader that has just delivered a step-change in scale and earnings power following its merger with Berry Global which position it as a high-cash-flow compounder with clear cost synergy tailwinds.

Amcor is now generating around US$23B in annualised sales from over 400 sites in more than 40 countries, giving it unrivalled customer reach across nutrition, healthcare, beauty and broader consumer end-markets. 

For the December quarter, net sales rose by 68% year on year to reach US$5.45B, with net income up by 9% to US$177M despite a heavier amortisation and integration burden from the Berry transaction. The integration is already driving operating leverage as segment Adjusted EBIT in both Global Flexible and Global Rigid Packaging have increased by 25–350%, with group gross profit up 66% while margins held broadly stable at about 19%.

Management is targeting roughly US$530M of pre-tax cost and growth synergies by FY28 which is anchored in procurement, supply chain and overhead savings against an estimated US$280M of one-off cash costs. While leverage is elevated at about US$14.1B of net debt and restructuring charges will remain a drag in the near term. 

Amcor continues to produce strong operating cash flow, has maintained investment-grade credit ratings and has reaffirmed its commitment to a fully franked dividend stream. It has most recently declared a $0.65 per share quarterly dividend for March 2026.

Jumbo Interactive Limited (ASX: JIN) 

is offering leveraged exposure to digital lotteries and prize draws, as it delivers strong top-line and earnings growth despite a softer jackpot backdrop and absorbing recent UK/US acquisitions.
Group turnover (TTV) grew by 15.7% year on year to reach $524.7M in 1H26, with revenue up by 29% to reach $85.3M and underlying EBITDA up by 22.6% to $37.5M which underpin strength of Australian lottery retailing. The company also reported a 9.9% TTV growth in SaaS and a 51.3% uplift in Managed Services EBITDA. 

The new Dream Giveaways segment which is formed via the acquisition of Dream Car Giveaways in the UK and Dream Giveaway in the US in October 2025, contributed $6.5M of underlying EBITDA in its first partial half and is performing ahead of expectations. 

Notably, Jumbo has delivered this growth in a subdued jackpot environment, with only 10 large jackpots versus 13 in the prior period and no $100M events, as charity and proprietary products helped keep Lottery Retailing TTV broadly flat. 

Management has reset the dividend payout ratio to 30–50% of statutory NPAT after the debt-funded acquisitions, prioritising balance sheet strength and ongoing deleveraging while leaving scope for continued capital returns once 1H26 audited results are finalised. 

(Source: Company Reports)