Flutter Entertainment plcFLUT
NYSE•Consumer Cyclical•Gambling
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.
Flutter Entertainment plc (FLUT) reported trailing twelve months revenue of $17.02B as of March 2026, a 18.9% increase year-over-year. Quarterly revenue reached $4.30B, reflecting continued top-line momentum.
Flutter Entertainment plc reported a TTM net loss of $533.00M, with quarterly EBITDA of $495.00M. The operating margin contracted from 6.1% to 1.8%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (1.8%) and net margin (4.9%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 9.1% a year ago, reflecting increased costs or interest expense.
FLUT trades at a P/S of 1.0x. The price-to-book ratio of 1.9x reflects a moderate premium to book value.
The company generated $305.00M in free cash flow over the trailing twelve months, a 80.5% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $28.47B in total assets with $11.79B in long-term debt against $9.06B in stockholders equity for a debt-to-equity ratio of 1.3. Data based on the most recent quarterly reports.
Competitive analysis based on 9 quarters of fundamental data
Operating margins are under pressure, averaging 2.7%. The business may lack pricing power or face rising costs.'
ROE is low or negative, suggesting limited competitive advantage or capital allocation challenges.
8 of the last 8 quarters generated positive FCF. The company generally funds itself but has occasional cash consumption quarters.
Revenue has been flat or declining over recent quarters, which may indicate eroding demand or competitive pressure.
Data-driven red flags and warnings across 9 quarters
Operating margins dropped 120.3% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.
FCF/Net Income has dropped below 0.7x in 3 quarters — monitor for earnings quality deterioration.
Debt-to-equity has risen 90.0% recently — increasing financial risk even if the current ratio is manageable.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation