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Global online sports betting and gaming operator, owner of FanDuel in the US and Paddy Power/Betfair/Sky Bet in Europe.
Global online sports betting and gaming operator, owner of FanDuel in the US and Paddy Power/Betfair/Sky Bet in Europe.
Earns what customers lose to it after winnings are paid, less betting taxes and the marketing needed to win and keep players, so a year's results hinge on game outcomes as well as on volume wagered. FanDuel carries growth in the US. The 2020 merger with The Stars Group added poker, and Sisal in Italy followed in 2022.
Moat: narrow (brand, scale, network effects). FanDuel's leading US market share and multi-brand European scale support marketing and liquidity advantages.
Headquarters: Dublin, Ireland · Founded: 2016 · Employees: 28,518
Size Flutter Entertainment (FLUT) is a United States Consumer Discretionary company (Casinos/Gaming) with a market value of $14.2B, the 621st largest of 3,117 United States companies the cockpit tracks. Shares closed at $81.70 on 6 Nov 2026.
Performance Over six months the shares fell 19.3%, against -10.6% for the median peer and -1.1% for the United States market (cap-weighted) — 3rd lowest of 15 in its peer set.
Growth Revenue grew 11.7% over the last twelve months (peer median +3.5%); the operating margin is 2.3% (peer median 21.6%).
Valuation It trades at 14.3× forward earnings against a peer median of 12.9× (5th most expensive of 14).
Price implies For today's price to make sense, revenue must grow about 26% a year for seven years (Req g). Recent delivered growth is +24%, so the hurdle is +3 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.4 points below its cost of capital (8.2% WACC).
Short interest Short interest is 9.1% of the free float (15 Oct 2026).
Next results Next results expected around 2 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $17.2B | $16.4B | $14.0B | $11.8B | $9.48B |
| Revenue growth | — | +17% | +19% | +24% | — |
| Gross profit | $7.18B | $7.40B | $6.70B | $4.72B | $4.40B |
| EBITDA | $2.04B | $2.54B | $2.15B | $1.68B | $1.36B |
| Net income | -$926M | -$310M | $43.0M | -$1.22B | -$372M |
| Free cash flow | $1.23B | $1.08B | $1.46B | $779M | $922M |
| Capital expenditure | $814M | $777M | $661M | $602M | $478M |
| Total debt | $12.9B | $12.9B | $7.28B | $7.53B | $7.20B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Flutter Entertainment FLUT | $14.2B | -19% | +12% | 2% | 14.3× | 26.3% |
| DraftKings DKNG | $9.19B | -27% | +15% | -3% | 55.1× | 9.7% |
| Entain ENT.L | $4.05B | -11% | 0% | 11% | 8.9× | 3.2% |
| MGM Resorts MGM | $8.18B | -17% | +3% | 6% | 24.0× | 16.0% |
| Caesars Entertainment CZR | $5.96B | +4% | +3% | 17% | n/a | 5.8% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | FLUT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.1% | +8.5% | 4th lowest of 15 |
| 6-month return | -19.3% | -10.6% | 3rd lowest of 15 |
| Distance from 52-week high | -65.3% | -32.8% | lowest of 15 |
| Revenue growth (TTM) | +11.7% | +3.5% | 2nd highest of 15 |
| Operating margin | 2.3% | 21.6% | lowest of 15 |
| Forward P/E | 14.3× | 12.9× | 5th most expensive of 14 |
| Growth the price implies (Req g, 7 yrs) | 26.3% | 1.7% | most demanding of 14 |
| Growth delivered (Del g) | +23.7% | +27.7% | 6th lowest of 14 |
| Hurdle (Req g minus delivered) | +2.6 pp | -24.3 pp | most demanding of 14 |
| ROIC minus cost of capital | -6.4 pp | +6.6 pp | lowest of 15 |
| EV / EBITDA | 11.5× | 8.4× | 3rd most expensive of 15 |
| Net debt / EBITDA | 4.4× | 2.7× | 4th most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Flutter Entertainment FLUT | United States | $14.2B | -19% | +12% | 2% | 14.3× | 26.3% | +23.7% |
| Sands China 1928.HK | Hong Kong | $11.4B | -30% | +9% | 26% | 12.9× | 2.5% | +34.0% |
| Galaxy Ent 0027.HK | Hong Kong | $19.4B | +8% | +8% | 32% | 14.2× | 2.8% | +28.7% |
| Wynn Resorts WYNN | United States | $8.56B | -19% | +6% | 16% | 20.8× | 1.7% | +27.8% |
| MGM Resorts MGM | United States | $8.18B | -17% | +3% | 6% | 24.0× | 16.0% | +27.7% |
| Las Vegas Sands LVS | United States | $25.5B | -23% | +11% | 22% | 14.2× | -2.5% | +34.7% |
| Aristocrat Leisure ALL.AX | Australia | $26.9B | +27% | -1% | 32% | 24.8× | 9.5% | +8.8% |
| Lottomatica LTMC.MI | Italy | $7.17B | +4% | +4% | 21% | 15.4× | -1.4% | +42.7% |
| Light & Wonder, Inc. Shs Chess Depository Interests Repr 1 Sh LNW.AX | Australia | $6.22B | +1% | 0% | 27% | 9.4× | -8.5% | +15.8% |
| Caesars Entertainment CZR | United States | $5.96B | +4% | +3% | 17% | n/a | 5.8% | +25.9% |
| Super Group (SGHC) SGHC | United States | $5.77B | -13% | +14% | 23% | 11.7× | -0.2% | +16.6% |
| Boyd Gaming BYD | United States | $5.41B | -11% | 0% | 19% | 10.1× | n/a | n/a |
| MGM China 2282.HK | Hong Kong | $4.85B | -12% | +11% | 31% | 9.3× | -3.1% | +48.5% |
| FDJ United FDJU.PA | France | $4.49B | -5% | +3% | 15% | 10.6× | -2.8% | +13.9% |
| Entain ENT.L | United Kingdom | $4.05B | -11% | 0% | 11% | 8.9× | 3.2% | +8.1% |