Flutter Entertainment
FLUT NYSE· Casinos & Gaming
Last close · Oct 26, 2026
$80.18
KIRA · Stoqly’s AI analyst, in plain words
- Flutter Entertainment had $16.4B of revenue in fiscal 2025, up 16.6% on the year before. Over five years, revenue changed +51.9% a year on average.
- Its operating margin was 0.2%, down 6.0 pts: of every 100 in sales, about 0 is left after running the business.
- Flutter Entertainment lost $310M in fiscal 2025.
- Free cash flow was $1.1B in fiscal 2025, 6.6% of revenue.
- Flutter Entertainment returned $1.1B to shareholders in fiscal 2025, 104% of free cash flow. The diluted share count fell 1.7%.
- Flutter Entertainment owes $10.4B more than it holds in cash, about 6.7 years of operating profit.
Market cap
$14.0B
P/E
—
Revenue
$16.4B
Net income
−$310M
Free cash flow
$1.1B
Operating margin
0.2%
Flutter Entertainment in 30 seconds · fiscal 2025
Are sales growing?
+16.6%
Yes. Sales grew 16.6% last year.
Does it make a profit?
−1.9%
No. It lost money last year.
Does profit turn into cash?
6.6%
Partly. 6.6% of sales ends up as free cash.
Is debt under control?
6.7x
Heavy. Repaying its debt would take 6.7 years of operating profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
What Flutter Entertainment does
Flutter Entertainment is an online betting and gaming company based in Ireland. It runs sportsbooks, online casino games (called iGaming), daily fantasy sports, horse racing wagering and, in the U.S., prediction markets. Its U.S. brands are FanDuel and TVG. It says it had 15.9 million average monthly players in fiscal 2025. It reports two segments. The U.S. segment offers its products online in many states, with some sports betting in a small number of retail outlets, and made up 43% of 2025 revenue. The International segment operates in approximately 100 markets and offers sports betting, casino, poker and lottery. It made up 57% of revenue. By product, 53% of fiscal 2025 revenue came from sportsbook and 44% from iGaming, and 88% came from online businesses. Flutter grows partly through purchases.
Biggest risks, in its own words
- Weaker economies and consumer spending, and rising competition in online betting, iGaming and prediction markets.
- Unclear or changing laws on online betting and iGaming, and public opinion about gambling.
- Failing to keep customers or sign new ones, or to launch products that people use.
- Losses from setting betting odds wrongly, which can cut profit sharply.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Feb 26, 2026
- Legal name
- Flutter Entertainment plc
- CIK
- 0001635327
Flutter Entertainment · FLUT
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY19 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $2.5B | $9.5B | $11.8B | $14.0B | $16.4B |
| Revenue growth | 24.6% | — | 24.6% | 19.2% | 16.6% |
| Gross margin | 72.6% | 49.1% | 47.4% | 47.7% | 45.2% |
| Operating margin | 10.5% | −0.9% | −4.7% | 6.2% | 0.2% |
| Net income | $62.8M | −$432M | −$1.2B | $43.0M | −$310M |
| Net margin | 2.5% | −4.6% | −10.4% | 0.3% | −1.9% |
| Diluted EPS | $0.22 | −$2.44 | −$6.89 | $0.24 | −$1.75 |
| Cash | |||||
| Cash from operations | $671M | $1.2B | $937M | $1.6B | $1.2B |
| Capital expenditure | $27.5M | $122M | $159M | $144M | $105M |
| Free cash flow | $643M | $1.0B | $778M | $1.5B | $1.1B |
| FCF margin | 25.4% | 11.0% | 6.6% | 10.4% | 6.6% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $3.0M | $212M | $219M | $1.1B |
| Share count change | 36.6% | — | 0.0% | 1.7% | −1.7% |
| Debt and strength | |||||
| Cash and short-term investments | $731M | $966M | $1.7B | $1.7B | $1.9B |
| Debt incl. finance leases | $4.9B | — | $7.1B | $6.7B | $12.3B |
| Shareholders' equity | $4.5B | $11.2B | $10.0B | $9.3B | $9.0B |
| Net debt / EBITDA | 6.0x | — | 7.3x | 2.6x | 6.7x |
| Current ratio | 0.9x | — | 0.9x | 1.0x | 1.0x |
| Interest coverage | 1.1x | −0.4x | −1.3x | 1.8x | 0.1x |
| Returns and quality | |||||
| Return on capital | 3.0% | — | — | 5.8% | 0.2% |
| Return on equity | 1.5% | — | — | 0.4% | −3.4% |
| Piotroski F-score | 5 | — | — | — | 5 |
| Altman Z'' | 0.9 | — | 1.9 | 2.2 | 1.4 |
Insiders bought, 12 months
$1.0M
7 insiders
Insiders sold, 12 months
$3.1M
15 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Flutter Entertainment · FLUT
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Flutter Entertainment FLUT | $14.0B | 16.6% | 0.2% | 6.6% | 0.2% | — | 5 |
| MGM Resorts MGM | $7.4B | 1.7% | 5.7% | 8.3% | 12.8% | 17.6x | 6 |
| Las Vegas Sands LVS | $23.4B | 15.2% | 21.7% | 14.3% | 17.5% | 15.0x | 7 |
| Caesars Entertainment CZR | $5.9B | 2.1% | 16.2% | 4.3% | 9.6% | — | 6 |
| Wynn Resorts WYNN | $7.6B | 0.1% | 15.7% | 9.7% | 11.6% | 17.8x | 5 |
KIRA
At $80.18 a share, the company is worth $14.0B.
Flutter Entertainment grew sales faster than 4 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0001635327). Data updated October 23, 2026. For information only — not investment advice. Check the original filings before relying on any figure.