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Flutter Entertainment PLC (FLUT)
NYSE:FLUT
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Flutter Entertainment PLC
(NYSE:FLUT)
61Neutral
Positive Factors
Financial performance
Flutter delivered a strong full-year performance, with AMPs increasing 13% YoY and revenue growing 19% YoY, driven by the rapid scaling of its U.S. business.
Stock repurchase
Flutter reduced its leverage ratio to 2.2x from 3.1x, supported by strong cash flow, and announced a $1B share repurchase program for 2025.
Negative Factors
Currency impact
Foreign currency headwinds are expected to reduce 2025 revenue by $220M.
Flutter Entertainment PLC (FLUT) vs. S&P 500 (SPY)
Market Cap
£41.01B
Dividend YieldN/A
Average Volume (3M)1.98M
Price to Earnings (P/E)1049.6
Beta (1Y)1.29
Revenue GrowthN/A
EPS GrowthN/A
CountryUS
Employees23,053
SectorConsumer Cyclical
Sector Strength49
IndustryHotels, Lodging & Leisure
Share Statistics
EPS (TTM)0.22
Shares Outstanding177,412,220
10 Day Avg. Volume2,800,176
30 Day Avg. Volume1,976,271
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.72
Price to Cash Flow (P/CF)61.10
P/FCF Ratio115.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$321.35Price Target Upside37.32% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering21
Flutter Entertainment PLC Business Overview & Revenue Model
Company DescriptionFlutter Entertainment PLC is a global sports betting, gaming, and entertainment provider. The company's segments include PBB Online, which provides betting apps in over 100 countries as well as business-to-business risk and trading services; Australia, which consists of the Sportsbet Australian brand for betting on national sporting events; U.S., which includes betting apps, retail-only betting, and daily fantasy sports; and PBB Retail, which includes betting shops in the U.K. and Ireland and an accompanying app. PBB Online makes up the largest revenue segment.
How the Company Makes MoneyFlutter Entertainment PLC generates revenue primarily through its diversified portfolio of leading brands in the sports betting and gaming industry. The company operates several key divisions, including its Online division, which covers internet-based betting and gaming services, and its Retail division, which encompasses physical betting shops. Notable brands under Flutter's umbrella include Paddy Power, Betfair, FanDuel, PokerStars, and Sky Betting & Gaming. Revenue streams include sports betting, where the company earns money from the bets placed by its customers; gaming activities, which involve online casino games, poker, and lotteries; and daily fantasy sports, primarily through its FanDuel brand. Additionally, Flutter benefits from strategic partnerships and sponsorships that enhance its market reach and brand recognition, as well as joint ventures that expand its geographical footprint and access to new markets.
Flutter Entertainment PLC Financial Statement Overview
Summary
Flutter Entertainment PLC shows strong revenue growth and cash generation but struggles with profitability and rising leverage. Operational improvements are evident in EBIT and EBITDA margins, while maintaining a solid equity base.Income Statement
Flutter Entertainment PLC has shown impressive revenue growth, increasing from $2.83 billion in 2019 to $14.05 billion in 2024. However, the company has faced challenges with profitability, recording net losses over the past few years, including a $130 million loss in 2024. While gross profit margins have improved, net profit margins remain negative. The company has improved its EBIT and EBITDA margins in 2024, which reflects operational improvements.60
Neutral
Balance Sheet
The company's financial position shows a stable equity base with stockholders' equity at $9.29 billion in 2024. The debt-to-equity ratio has increased over the years, indicating rising leverage, which poses potential risks. However, the equity ratio remains strong, reflecting a solid asset base relative to equity. Return on equity is currently negative due to net losses.65
Positive
Cash Flow
Operating cash flow has been consistently positive, reflecting strong cash generation capabilities, with $1.6 billion in 2024. Free cash flow has also shown significant growth, indicating improved cash management. The ratio of operating cash flow to net income highlights operational efficiency, despite net losses.70
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 14.05B | 11.79B | 9.46B | 8.31B | 6.04B | Gross Profit |
| 6.70B | 5.59B | 4.65B | 4.43B | 3.93B | EBIT |
| 869.00M | -549.00M | -88.00M | -449.00M | 141.54M | EBITDA |
| 1.60B | 653.00M | 987.00M | 561.00M | 1.18B | Net Income Common Stockholders |
| 109.00M | -1.22B | -432.00M | -923.00M | 51.83M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 1.58B | 3.42B | 2.70B | 2.31B | 1.74B | Total Assets |
| 24.51B | 24.64B | 24.77B | 22.68B | 23.23B | Total Debt |
| 7.28B | 7.53B | 7.24B | 5.19B | 4.52B | Net Debt |
| 5.70B | 4.28B | 4.71B | 2.98B | 2.89B | Total Liabilities |
| 13.24B | 13.27B | 12.27B | 8.77B | 8.20B | Stockholders Equity |
| 9.29B | 10.04B | 12.35B | 13.86B | 14.99B |
| Cash Flow | Free Cash Flow | |||
| 941.00M | 344.10M | 558.14M | 339.44M | 920.64M | Operating Cash Flow |
| 1.60B | 937.00M | 1.03B | 736.87M | 1.21B | Investing Cash Flow |
| -811.00M | -602.00M | -2.76B | -324.97M | -1.79B | Financing Cash Flow |
| -469.00M | -113.00M | 1.87B | 79.35M | 1.24B |
Flutter Entertainment PLC Technical Analysis
Negative
234.01
Price Trends
264.83
Negative
260.56
Negative
232.97
Positive
Market Momentum
-8.64
Positive
34.10
Neutral
19.02
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLUT, the sentiment is Negative. The current price of 234.01 is below the 20-day moving average (MA) of 268.38, below the 50-day MA of 264.83, and above the 200-day MA of 232.97, indicating a neutral trend. The MACD of -8.64 indicates Positive momentum. The RSI at 34.10 is Neutral, neither overbought nor oversold. The STOCH value of 19.02 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for FLUT.
Flutter Entertainment PLC Peers Comparison
Overall Rating
UnderperformOutperform
Sector (60)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
65 Neutral | $9.11B | 13.34 | 21.76% | ― | 6.66% | -24.59% | |
64 Neutral | $2.32B | 504.00 | 3.61% | ― | 33.70% | ― | |
61 Neutral | £41.01B | 1,049.59 | -1.40% | ― | ― | ― | |
60 Neutral | $12.39B | 10.47 | 1.07% | 3.58% | 1.64% | -18.33% | |
57 Neutral | $34.14B | ― | -54.81% | ― | 30.07% | 39.93% | |
49 Neutral | $5.78B | ― | -6.38% | ― | -2.45% | -135.17% | |
44 Neutral | $2.59B | ― | -10.27% | ― | 3.38% | 38.18% |
* Consumer Cyclical Sector Average
Performance Comparison
FLUT
Flutter Entertainment PLC
234.01
8.38
3.71%
MGM
MGM Resorts
30.99
-11.87
-27.69%
PENN
Penn National Gaming
16.47
-2.56
-13.45%
CZR
Caesars Entertainment
27.32
-14.29
-34.34%
DKNG
DraftKings
38.63
-3.61
-8.55%
RSI
Rush Street Interactive
10.08
4.15
69.98%
Flutter Entertainment PLC Earnings Call Summary
Earnings Call Date: Mar 4, 2025 | % Change Since: -12.08% | Next Earnings Date: May 20, 2025
Earnings Call Sentiment Neutral
The earnings call presented a strong financial performance with significant growth in both revenue and market share, particularly in the U.S. and international markets. However, challenges such as adverse sports results and regulatory concerns were noted. The sentiment is balanced with strong highlights but notable lowlights.Highlights
Strong Financial Performance
Flutter reported a revenue growth of 19% and adjusted EBITDA increased by 26% in 2024. The net income was $156 million, and earnings per share increased by $5.59 to $0.45 in Q4.
U.S. Market Leadership
Flutter maintained its number 1 position in the U.S. online sportsbook market with a GGR market share of 43% and became the number 1 iGaming operator with a 26% market share.
Successful International Expansion
Significant progress was made in international markets, including the successful launch of FanDuel in North Carolina and Vermont, and the acquisition of MaxBet.
Innovative Product Development
The introduction of the Flutter Edge and further product innovations like the Same Game Parlay and FanDuel Reward Machine drove strong customer engagement and growth.
Lowlights
Adverse Sports Results Impact
Customer-friendly NFL results led to a significant adverse impact on Q4 sports results, costing approximately $550 million in revenue and $360 million of adjusted EBITDA.
Challenges in Australia
The Australian market faced challenges with an 8% decline in revenue, attributed to softness in the racing market.
Regulatory Challenges and Tax Increases
Potential state gaming tax increases in the U.S. were highlighted as a concern, with ongoing efforts to mitigate impacts.
Company Guidance
In the recent earnings call, Flutter provided guidance for 2025, highlighting significant achievements and strategic plans. The company reported a 19% revenue growth and a 26% increase in adjusted EBITDA to $482 million for 2024. In the U.S., Flutter maintained a sportsbook GGR market share of 43% and an iGaming GGR market share of 26%, solidifying its position as the leading online sportsbook and iGaming operator. For 2025, Flutter anticipates U.S. revenue and adjusted EBITDA midpoints of $7.72 billion and $1.4 billion, respectively, representing substantial year-over-year growth. The company plans to continue organic investments and acquisitions, including the Snai and NSX acquisitions, and expects up to $1 billion in share repurchases. Flutter's strategic focus on product innovation and disciplined customer acquisition is expected to drive further market leadership and shareholder value.Flutter Entertainment PLC Corporate Events
Delistings and Listing ChangesRegulatory Filings and Compliance
Flutter Entertainment Aligns Shares with UK Regulations
Neutral
Oct 30, 2024
Flutter Entertainment plc announced a block listing application for its ordinary shares to align with UK regulatory requirements. This move involves their Deferred Share Incentive Plan and other schemes, adjusting the balance of unissued shares through a regular update. Key figures include an increase and allotment of shares under various incentive plans, showcasing active management of their equity incentives.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.