(FLUT) Flutter Entertainment - Overview
Sector: Consumer Cyclical | Industry: Gambling | Exchange: NYSE (USA) | Market Cap: 16.880m USD | Total Return: -61.1% in 12m
Avg Turnover: 278M
Qual. Beats: -1
Rev. Trend: 99.1%
Qual. Beats: 0
Warnings
Interest Coverage Ratio 0.6 is critical
Tailwinds
No distinct edge detected
Flutter Entertainment plc is a global sports betting and gaming operator with a significant presence in the United States, Europe, and Australia. The company manages a diverse portfolio of consumer brands, including FanDuel, Paddy Power, Sky Betting & Gaming, and PokerStars. Its service offerings span online sportsbooks, iGaming, peer-to-peer betting exchanges, and daily fantasy sports.
The business model relies on a proprietary technology stack to manage risk and pricing across multi-jurisdictional regulatory frameworks. In the gaming sector, companies often utilize a flywheel effect where high-volume sports betting serves as a low-cost acquisition channel for higher-margin iGaming products like digital slots and blackjack. Further analysis of these segment margins is available on ValueRay.
Headquartered in New York, the firm operates through both direct-to-consumer digital platforms and business-to-business risk management services. Following its rebranding from Paddy Power Betfair in 2019, the company has focused on aggressive expansion in the U.S. market to capitalize on the ongoing legalization of mobile sports wagering.
- FanDuel market share dominance drives US revenue growth and profitability
- Regulatory shifts in US state tax rates impact operating margins
- Expansion of iGaming portfolio increases high-margin cross-sell revenue opportunities
- International diversification through Sisal and MaxBet mitigates regional regulatory risks
- Marketing spend efficiency determines long-term customer lifetime value and returns
| Net Income: -496.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -0.84 > 1.0 |
| NWC/Revenue: -2.82% < 20% (prev -1.59%; Δ -1.23% < -1%) |
| CFO/TA 0.05 > 3% & CFO 1.33b > Net Income -496.0m |
| Net Debt (9.63b) to EBITDA (2.05b): 4.70 < 3 |
| Current Ratio: 0.90 > 1.5 & < 3 |
| Outstanding Shares: last quarter (179.0m) vs 12m ago -0.56% < -2% |
| Gross Margin: 44.25% > 18% (prev 0.48%; Δ 4.38k% > 0.5%) |
| Asset Turnover: 63.87% > 50% (prev 57.67%; Δ 6.21% > 0%) |
| Interest Coverage Ratio: 0.62 > 6 (EBITDA TTM 2.05b / Interest Expense TTM 657.0m) |
| A: -0.02 (Total Current Assets 4.50b - Total Current Liabilities 4.98b) / Total Assets 28.5b |
| B: 0.29 (Retained Earnings 8.23b / Total Assets 28.5b) |
| C: 0.02 (EBIT TTM 409.0m / Avg Total Assets 26.6b) |
| D: 0.37 (Book Value of Equity 7.01b / Total Liabilities 18.8b) |
| Altman-Z'' = 1.33 = BB |
| DSRI: 0.96 (Receivables 601.0m/525.0m, Revenue 17.0b/14.3b) |
| GMI: 1.07 (GM 44.25% / 47.55%) |
| AQI: 1.02 (AQ_t 0.80 / AQ_t-1 0.79) |
| SGI: 1.19 (Revenue 17.0b / 14.3b) |
| TATA: -0.06 (NI -496.0m - CFO 1.33b) / TA 28.5b) |
| Beneish M = -2.91 (Cap -4..+1) = A |
As of May 31, 2026, the stock is trading at USD 96.98 with a total of 3,056,878 shares traded.
Over the past week, the price has changed by -0.14%,
over one month by -9.87%,
over three months by -8.63% and
over the past year by -61.09%.
Flutter Entertainment has received a consensus analysts rating of 4.54. Therefore, it is recommended to buy FLUT.
- StrongBuy: 15
- Buy: 7
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 162.7 | 67.8% |
P/E Forward = 12.9032
P/S = 0.9916
P/B = 1.8623
P/EG = 0.1885
Revenue TTM = 17.0b USD
EBIT TTM = 409.0m USD
EBITDA TTM = 2.05b USD
Long Term Debt = 11.8b USD (from longTermDebt, last quarter)
Short Term Debt = 324.0m USD (from shortTermDebt, last quarter)
Debt = 13.2b USD (from shortLongTermDebtTotal, last quarter) + Leases 595.0m
Net Debt = 9.63b USD (calculated: Debt 13.2b - CCE 3.53b)
Enterprise Value = 26.5b USD (16.9b + Debt 13.2b - CCE 3.53b)
Interest Coverage Ratio = 0.62 (Ebit TTM 409.0m / Interest Expense TTM 657.0m)
EV/FCF = 36.40x (Enterprise Value 26.5b / FCF TTM 728.1m)
FCF Yield = 2.75% (FCF TTM 728.1m / Enterprise Value 26.5b)
FCF Margin = 4.28% (FCF TTM 728.1m / Revenue TTM 17.0b)
Net Margin = -2.91% (Net Income TTM -496.0m / Revenue TTM 17.0b)
Gross Margin = 44.25% ((Revenue TTM 17.0b - Cost of Revenue TTM 9.49b) / Revenue TTM)
Gross Margin QoQ = 42.68% (prev 44.54%)
Tobins Q-Ratio = 0.93 (Enterprise Value 26.5b / Total Assets 28.5b)
Interest Expense / Debt = 4.99% (Interest Expense 657.0m / Debt 13.2b)
Taxrate = 10.68% (25.0m / 234.0m)
NOPAT = 365.3m (EBIT 409.0m * (1 - 10.68%))
Current Ratio = 0.90 (Total Current Assets 4.50b / Total Current Liabilities 4.98b)
Debt / Equity = 1.45 (Debt 13.2b / totalStockholderEquity, last quarter 9.06b)
Debt / EBITDA = 4.70 (Net Debt 9.63b / EBITDA 2.05b)
Debt / FCF = 13.22 (Net Debt 9.63b / FCF TTM 728.1m)
Total Stockholder Equity = 9.39b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.86% (Net Income -496.0m / Total Assets 28.5b)
RoE = -5.28% (Net Income TTM -496.0m / Total Stockholder Equity 9.39b)
RoCE = 1.93% (EBIT 409.0m / Capital Employed (Equity 9.39b + L.T.Debt 11.8b))
RoIC = 1.53% (NOPAT 365.3m / Invested Capital 23.8b)
WACC = 7.78% (E(16.9b)/V(30.0b) * Re(10.36%) + D(13.2b)/V(30.0b) * Rd(4.99%) * (1-Tc(0.11)))
Discount Rate = 10.36% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 37.80 | Cagr: 0.63%
[DCF] Terminal Value 73.33% ; FCFF base≈774.5m ; Y1≈687.6m ; Y5≈569.5m
[DCF] Fair Price = N/A (negative equity: EV 9.11b - Net Debt 9.63b = -513.9m; debt exceeds intrinsic value)
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.03 | # QB: -1
Revenue Correlation: 99.15 | Revenue CAGR: 16.22% | SUE: 0.06 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.50 | Chg30d=-66.36% | Revisions=-60% | Analysts=9
EPS next Quarter (2026-09-30): EPS=0.73 | Chg30d=-17.80% | Revisions=+0% | Analysts=9
EPS current Year (2026-12-31): EPS=5.78 | Chg30d=-7.53% | Revisions=-65% | GrowthEPS=-27.2% | GrowthRev=+11.7%
EPS next Year (2027-12-31): EPS=3.66 | Chg30d=-37.41% | Revisions=-60% | GrowthEPS=+59.6% | GrowthRev=+9.3%
[Analyst] Revisions Ratio: -65%