“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 ↗
Flutter Entertainment plc
FLUT
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.
- 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.
Research brief
The story so far
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.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- 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
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- 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.
- Operating margin changed -6.0 percentage points in the latest annual period.
- EV/sales is 38% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
98.73Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The increase was primarily driven by an increase in capital expenditures period over period.”10-Q · May 6, 2026 ↗
“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 ↗
“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.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
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.