Flutter Entertainment vs Wynn Resorts
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KIRA’s take AI analyst
I put Flutter Entertainment and Wynn Resorts side by side, using each one’s latest annual report. Here is what stands out:
- Flutter Entertainment is the larger business, with $16.4B of revenue in fiscal 2025 against $7.1B for Wynn Resorts, about 2.3 times as much.
- Flutter Entertainment grew revenue faster (16.6%, against 0.1%).
- Wynn Resorts kept more of each dollar of sales as operating profit (15.7% operating margin, against 0.2%).
- Wynn Resorts turned more of its sales into free cash flow (9.7% FCF margin, against 6.6%).
- Wynn Resorts earned a higher return on the capital invested in it (11.6%, against 0.2%).
Who comes out ahead
Of the 9 measures where higher (or lower) is clearly better, how many each company leads.
Flutter Entertainment
FLUT
2/9
Revenue growth5-year growth
Wynn Resorts
WYNN
6/9
Operating marginNet marginFCF marginReturn on capitalNet debt / EBITDAShare count change
Side by side
Best in the row
| Latest fiscal year | FLUT FY25 | WYNN FY25 |
|---|---|---|
| Size | ||
| Market cap | $14.0B | $7.6B |
| Revenue | $16.4B | $7.1B |
| Free cash flow | $1.1B | $692M |
| Net income | −$310M | $327M |
| Growth | ||
| Revenue growth | 16.6% | 0.1% |
| 5-year growth | 51.9% | 27.8% |
| Share count change | −1.7% | −5.5% |
| Profitability | ||
| Gross margin | 45.2% | — |
| Operating margin | 0.2% | 15.7% |
| Net margin | −1.9% | 4.6% |
| FCF margin | 6.6% | 9.7% |
| Return on capital | 0.2% | 11.6% |
| Return on equity | −3.4% | — |
| Balance sheet | ||
| Net debt | $10.4B | $9.2B |
| Net debt / EBITDA | 6.7x | 5.3x |
| Dividends and buybacks | $1.1B | $555M |
| Valuation & quality | ||
| P/E | — | 17.8x |
| Piotroski F-score | 5 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.