Flutter Entertainment (FLUT) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Consumer Cyclical•Gambling

AverageMetricSide Score: 46/100

ProfitabilityProfit8/30

GrowthGrowth14/25

Balance SheetBalance8/25

Cash QualityCash16/20

Price & Volume

Market Cap $18.66B

Flutter Entertainment plc operates as a sports betting and gaming company in the United States, the United Kingdom, Ireland, Australia, Italy, and internationally. It provides sportsbooks; iGaming products, such as blackjack, roulette, slot machines, poker, and rummy, as well as lottery products; and sports betting products, which include Betfair betting exchanges, daily fantasy sports, and horse racing wagering under the TVG brand. The company offers sports betting and gaming services through fanduel.com, tvg.com, betfair.com, paddypower.com, and paddypower.ie, sportsbet.com.au, pokerstars.com, betfair.com, sisal.it, maxbet.rs, and adjarabet.com websites under the FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, TVG, Adjarabet, and MaxBet brands, as well as live poker tours and events. It also provides business-to-business pricing and risk management services. The company was formerly known as Paddy Power Betfair plc and changed its name to Flutter Entertainment plc in 2019. Flutter Entertainment plc was incorporated in 1958 and is headquartered in New York, New York.

Moat Signals

Competitive analysis based on 9 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging 2.7%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Cash Generation

Moderate Moat

8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.

Risk Signals

Data-driven red flags and warnings across 9 quarters

Some Concerns

Margin Pressure

Red Flag

Operating margins dropped 120.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Leverage Risk

Watch

Debt-to-equity has risen 90.0% recently — increasing financial risk even if the current ratio is manageable.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Healthy

Free cash flow is consistently positive — the business self-funds without external capital reliance.

Share Dilution

Healthy

Share count is stable — no significant dilution or buyback activity.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $17.02B
Q. Revenue: $4.30B
TTM EBITDA: $2.32B
TTM Op. Income: $-108.00M
Q. Op. Income: $79.00M
TTM Net Income: $-533.00M
Q. Net Income: $209.00M
EPS: $1.24
Shares Out.: $176.00M

$17.02B in TTM revenue grew 18.9% YoY, reaching $4.30B last quarter. TTM EBITDA of $2.32B and TTM operating income of $-108.00M shows growth is flowing through. However, net income is negative at $533.00M — growth is not yet reaching the bottom line. Revenue is growing at a healthy pace — a signal to hold.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 42.7%
EBITDA Margin: 11.5%
Op. Margin: 1.8%
Net Margin: 4.9%

Op. margin of 1.8% is down 4.2% YoY — costs are rising relative to revenue. Net margin at 4.9% and gross margin of 42.7% — earnings take a bigger bite when COGS stays lean..

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.1x
P/B Ratio: 2.1x

P/S of 1.1x and P/B of 2.1x. A low P/S may indicate the stock is undervalued.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $28.47B
Cash: $1.51B
Long-Term Debt: $11.79B
Book Value: $9.06B
D/E Ratio: 1.3
Debt/EBITDA: 23.8

With $28.47B in assets and $11.79B in long-term debt, the D/E of 1.3and book value of $9.06B — reflects moderate leverage — debt is manageable but worth monitoring.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $330.00M
Free Cash Flow: $305.00M
FCF Margin: 1.8%
FCF / Net Income: 1.5

FCF of $305.00M on $330.00M in operating cash flow. The FCF / Net Income ratio of -0.6x shows cash consumption — the business is not yet self-funding.

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Flutter Entertainment (FLUT) Stock Fundamentals, Analysis & Risk Signals

Health score, competitive moat, risk signals, and key metrics at a glance.

NYSE•Consumer Cyclical•Gambling

AverageMetricSide Score: 46/100

ProfitabilityProfit8/30

GrowthGrowth14/25

Balance SheetBalance8/25

Cash QualityCash16/20

Price & Volume

Market Cap $18.66B

Moat Signals

Competitive analysis based on 9 quarters of fundamental data

Pricing Power

Weak Moat

Operating margins are under pressure, averaging 2.7%. The business may lack pricing power or face rising costs.'

Competitive Advantage

Weak Moat

ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.

Cash Generation

Moderate Moat

8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.

Demand Durability

Weak Moat

Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.

Risk Signals

Data-driven red flags and warnings across 9 quarters

Some Concerns

Margin Pressure

Red Flag

Operating margins dropped 120.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Earnings Quality

Watch

FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.

Leverage Risk

Watch

Debt-to-equity has risen 90.0% recently — increasing financial risk even if the current ratio is manageable.

Revenue Decline

Healthy

Revenue is stable or growing over recent quarters — demand appears durable.

Cash Burn

Healthy

Free cash flow is consistently positive — the business self-funds without external capital reliance.

Share Dilution

Healthy

Share count is stable — no significant dilution or buyback activity.

Metrics at a Glance

as of March 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $17.02B
Q. Revenue: $4.30B
TTM EBITDA: $2.32B
TTM Op. Income: $-108.00M
Q. Op. Income: $79.00M
TTM Net Income: $-533.00M
Q. Net Income: $209.00M
EPS: $1.24
Shares Out.: $176.00M

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 42.7%
EBITDA Margin: 11.5%
Op. Margin: 1.8%
Net Margin: 4.9%

Op. margin of 1.8% is down 4.2% YoY — costs are rising relative to revenue. Net margin at 4.9% and gross margin of 42.7% — earnings take a bigger bite when COGS stays lean..

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1.1x
P/B Ratio: 2.1x

P/S of 1.1x and P/B of 2.1x. A low P/S may indicate the stock is undervalued.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $28.47B
Cash: $1.51B
Long-Term Debt: $11.79B
Book Value: $9.06B
D/E Ratio: 1.3
Debt/EBITDA: 23.8

With $28.47B in assets and $11.79B in long-term debt, the D/E of 1.3and book value of $9.06B — reflects moderate leverage — debt is manageable but worth monitoring.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $330.00M
Free Cash Flow: $305.00M
FCF Margin: 1.8%
FCF / Net Income: 1.5

FCF of $305.00M on $330.00M in operating cash flow. The FCF / Net Income ratio of -0.6x shows cash consumption — the business is not yet self-funding.