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Flutter Entertainment plc

FLUT

Consumer Cyclical · 98.73 -0.6% today

Isolated · not yet confirmedMarket checked 10 Sept, 15:55 GMT-4

Market read

Flutter Entertainment plc's current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Company-0.6% todayVolume comparison unavailable
Market group0 of 2 activeOnline Sports Betting · unavailable
Disclosed network0 of 6 confirmingNo filing-linked name is confirming now
What would change this read
  • Net interest expense increased $52 million to $162 million, reflecting 2025 debt issuance and lower interest income on cash.
  • Research and development expense rose 17%, with FanDuel Predicts, server costs, and cloud services among the disclosed drivers.

Invalidation: The isolated read changes if FLUT's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Consumer Cyclical · Gambling

No new filing conclusion is available. 0 of 2 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 6 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • Net interest expense increased $52 million to $162 million, reflecting 2025 debt issuance and lower interest income on cash.
  • Research and development expense rose 17%, with FanDuel Predicts, server costs, and cloud services among the disclosed drivers.

Company research

Understand the business, not just the ticker

As of Sep 11, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods4
Price observations327
Usable filing statements251
Verified relationships6
Evidence supporting the case
  • Latest annual revenue changed +16.6% year over year.
  • Foreign exchange has repeated favorable evidence across 4 filings.
  • Product pipeline and R&D has repeated favorable evidence across 3 filings.
Evidence challenging the case
  • Operating margin changed -6.0 percentage points in the latest annual period.
Questions before a position
  • EV/sales is 38% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 10, 2026

98.73
6m-9.9%12m-66.2%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2022-12-31$9.5B$-2.44
2023-12-31$11.8B+24.6%$-6.89+0.0%
2024-12-31$14.0B+19.2%$0.24+1.7%
2025-12-31$16.4B+16.6%$-1.75-1.7%

What management says matters

Persistent and emerging business drivers

Foreign exchangemixed · 4 filings
Sportsbook revenue in Australia was 12% higher, primarily driven by an increase in amounts staked of 9%, due to a favorable change in foreign currency exchange rates of 11% , which more than offset a decline in greyhound racing.
10-Q · Aug 5, 2026
Capital investment and capacitypositive · 3 filings
The increase was primarily driven by an increase in capital expenditures period over period.
10-Q · May 6, 2026
Credit and interest ratesmixed · 3 filings
46 Table of Cont e nts Interest expense, net increased by $123 million, to $318 million for the six months ended June 30, 2026, from $195 million for the six months ended June 30, 2025, primarily due to (a) a $106 million increase in interest expense resultin…
10-Q · Aug 5, 2026
Product pipeline and R&Dpositive · 3 filings
Technology, research and development expenses increased by 17%, to $300 million for the three months ended June 30, 2026 from $256 million for the three months ended June 30, 2025 primarily driven by (i) a $23 million increase in our US segment primarily due…
10-Q · Aug 5, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 1.1× · EV/sales 1.7×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

98.73-0.6% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 10 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for FLUT. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for FLUT. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind FLUT

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

BYDBoyd Gaming CorporationinvesteeNov 12, 2025

On July 31, 2025, the Group completed the transaction with Boyd Gaming Corporation to acquire the redeemable non-controlling interest of 5% held by Boyd Interactive Holdings L.L.C.

JPMJPMorgan Chase & Co.lenderFeb 26, 2026

10.1 Fourth Incremental Assumption Agreement to the Syndicated Facility Agreement, dated August 7, 2025, among Flutter Entertainment plc, PPB Treasury Unlimited Company, Betfair Interactive US Financing LLC, TSE Holdings Limited, FanDuel Group Financing LLC,…

Depended on by

CMECME Group Inc.partnerFeb 26, 2026

Our joint venture with FanDuel, a part of Flutter Entertainment plc, launched in December 2025.

Filing peers

Companies whose filings use similar operating language.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 3 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

FLUT is currently a Leader in the organic co-movement group Online Sports Betting. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.