Dashboard|FLUT – Overview

FLUT

Flutter Entertainment plc

Technology • CIK: 0001635327

Market Cap

$38.38B

P/E (TTM)

-122.2x

Rev Growth (TTM)

+16.6%

Net Margin (TTM)

-1.9%

FCF Yield (TTM)

2.4%

FCF Margin (TTM)

5.6%

LATEST EARNINGS

•

Q4 FY2025

•

8 days ago

•View source

Revenue

$4.74B

+25.0%

Net Income

$10.00M

-93.6%

EPS

$-0.05

-111.1%

Gross

44.5%↓ -3.6%

Net

0.2%↓ -3.9%

•Group revenue grew 25% year-over-year in Q4 to $4,737 million, and 17% for the full year to $16,383 million, benefiting from M&A and strong US performance.
•US revenue increased by 33% in Q4, with sportsbook up 35% and iGaming up 33%, driven by market leadership and new product launches.
•International revenue grew 19% year-over-year in Q4, with strong performance in SEA and CEE offsetting headwinds.
•Adjusted EBITDA grew 27% year-over-year in Q4 to $832 million and 21% for the full year to $2,845 million.

View Full Earnings →

Cash Flow Health

Free Cash Flow8/8 positive

TTM$917M

Q4 '25

$335M+152%

Q3 '25

$133M-58%

FCF Margin

TTM5.6%

Q4 '257.1%+102%

Sector: 10.0%Below Avg

OCF Margin7.2%

OCF/NI-3.82x

CapEx Coverage11.3x

FCF Yield2.4%

FCF Growth (2Y)–

Cash Conversion Cycle

-11 days

DSO: 3+DIO: 0−DPO: 15

View Insights from Latest Filing →View Full Cash Flow Statement →

Capital Allocation & Returns

Balanced

Total Shareholder YieldTTM

TTM2.9%

Div Yield0.0%

Buyback (TTM)2.9%

Balancing returns with reinvestment

Dividend & Payout Metrics

Dividend Yield (TTM)0.0%

Free Cash Flow (TTM)$917.0M

Stock Repurchases (TTM)$1.1B

Capital Return / FCF122.5%

Est. Dividends Paid (TTM)$0

Shows how management rewards shareholders

Operational Efficiency & Returns

Return on Invested CapitalTTM

0.5%

Moderate

-0.4% YoY-7.5%

P25MedianP75

75th pctl (med: 0.1%)

DuPont BreakdownROIC = Margin × Turn × (1+D/E)

NOPAT Margin

0.7%

8Q: 2.1%

Asset Turnover

0.59x

8Q: 0.59x

Leverage (1+D/E)

2.36x

D/E: 1.36x

DuPont: 1.0% ≈ 0.5% ROIC

Asset & CapEx Efficiency

Fixed Asset Turn

28.89x

8Q:29.99x

-16.0%

Invested Cap Turn

0.72x

8Q:0.74x

+4.1%

CapEx Intensity

0.5%

8Q:0.6%

CapEx/Depreciation

0.13x

Asset-based ROIC formula

Full Analysis

QUARTERLY TRENDS

Last 8 quarters + TTM

Metric	TTM	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024
Revenue	$16.4B	$4.7B↑24.9%	$3.8B↓9.4%	$4.2B↑14.2%	$3.7B↓3.3%	$3.8B↑16.7%	$3.2B↓10.1%	$3.6B↑6.3%	$3.4B
Operating Income	$36.0M	$258.0M↑130.9%	$-834.0M↓314.4%	$389.0M↑74.4%	$223.0M↓20.1%	$279.0M↑187.6%	$97.0M↓73.7%	$369.0M↑197.6%	$124.0M
Net Income	$-310.0M	$-8.0M↑98.8%	$-690.0M↓757.1%	$105.0M↓62.9%	$283.0M↑249.4%	$81.0M↑178.6%	$-103.0M↓139.5%	$261.0M↑233.2%	$-196.0M
Operating Cash Flow	$1.2B	$428.0M↑104.8%	$209.0M↓41.8%	$359.0M↑91.0%	$188.0M↓71.2%	$652.0M↑124.8%	$290.0M↓10.2%	$323.0M↓4.2%	$337.0M
Free Cash Flow	$917.0M	$335.0M↑151.9%	$133.0M↓57.5%	$313.0M↑130.1%	$136.0M↓77.6%	$608.0M↑202.5%	$201.0M↓21.2%	$255.0M↓1.2%	$258.0M
Total Equity	N/A

Income Statement Cash Flow Statement Balance Sheet

Valuation Analysis

Fair Value

Price-to-EarningsTTM

-122.2x

Volatile

8Q: 29.5x-396825%

Valuation Lenses

Earnings

-122.2x

vs – sector

Cash Flow

50.4x

EV/FCF vs –

Growth-Adj

–PEG

N/A

Quality-Adj

–P/E per %ROIC

ROIC: 0.5%

Shareholder Returns

Dividend

–

Buyback

2.9%

Total Yield

2.9%

Market Cap$38.38B

EV$46.25B

Multi-angle valuation analysis with sector context

Business Quality & Moat

Overall Quality Score

13/100

Below Average

Composite score: Returns (40%) + Consistency (30%) + Earnings Quality (30%)

Returns on Capital

Return on Equity (ROE)Below Avg

-3.2%

8Q:–

Return on Invested Capital (ROIC)Top 25%

0.5%

8Q:–

-7.5%

vs Sector:0.1%

DuPont Analysis (ROIC = NOPAT Margin × Asset Turnover)

NOPAT Margin: 0.7%

Asset Turnover: 0.59x

Earnings Quality

Cash Conversion

-3.82x

OCF / Net Income

FCF Consistency

–

Positive quarters

Competitive Moat Indicators

Pricing Power

Gross Margin45.2%

Capital Efficiency

Invested Capital Turnover0.72x

Working Capital

Cash Conversion Cycle-11 days

Growth Quality & Momentum

Moderate Growth

Growth Quality Score

67/100

Growth 40%

Margins 30%

FCF 20%

Consistency 10%

Growth Rates

Revenue Growth YoY

16.6%

OpInc Growth YoY

-7.5%

EPS Growth YoY

N/A

FCF 3Y CAGR

N/A

Margin Quality & Sustainability

Moderate

Profitability Cascade

Gross

45.2%

Operating

0.2%

Below Avg in sector

Net

-1.9%

Margins Unknown

Earnings Quality Signals

SBC / Revenue

—

FCF vs Net Gap

+7.5 pts

FCF: 5.6% | Net: -1.9%

Quality = stability + cash conversion + low dilution

Balance Sheet & Solvency

Leveraged

Net Debt / EBITDA

–Net Debt: $10.41B

Interest Coverage

–

Leverage Metrics

Debt-to-Equity

1.36x

Balance sheet risk & solvency analysis