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Flutter Entertainment PLC (FLUT)
NYSE:FLUT

Flutter Entertainment PLC (FLUT) AI Stock Analysis

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FLUT

Flutter Entertainment PLC

(NYSE:FLUT)

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Neutral 49 (OpenAI - 5.2)
Rating:49Neutral
Price Target:
$106.00
▼(-7.48% Downside)
Action:ReiteratedDate:02/28/26
The score is held back primarily by very weak technicals (price far below key moving averages and negative momentum) and mixed fundamentals, where strong cash generation and revenue growth are offset by a 2025 loss, sharply weaker operating profitability, and higher leverage. Valuation provides limited support due to negative earnings and no dividend yield data.
Positive Factors
Revenue Growth
Sustained top-line growth from $6.0B to $16.4B across 2020–2025 reflects durable market expansion and successful customer acquisition across products and geographies. This scale supports longer-term investment in product, marketing and technology and strengthens competitive positioning.
Cash Generation
Consistent and sizable operating and free cash flow (~$1.18B and ~$1.08B in 2025) provide a durable funding source for capex, organic investment and debt servicing. Strong cash generation cushions accounting volatility and underpins strategic flexibility over the medium term.
Global Diversified Footprint
A broad presence across major regulated markets and product verticals (sportsbook, iGaming, DFS, racing) reduces concentration risk, enables cross-market learning, and lets Flutter tailor offerings to higher-margin segments, supporting more resilient revenue and structural growth.
Negative Factors
Rising Leverage
Material increase in leverage to ~$12.9B and debt/equity ~1.42 meaningfully reduces financial flexibility. Higher fixed obligations increase vulnerability to earnings swings and raise refinancing and interest-rate exposure, requiring sustained cash generation to avoid structural strain.
Profitability Volatility
A swing to a net loss and collapse in EBITDA margin indicate weak operating leverage and margin pressure, perhaps from higher promotions, costs or mix shifts. Persistent profitability volatility undermines ability to deleverage, invest, and deliver consistent shareholder returns over months.
Low Cash Coverage of Debt
Operating cash flow covering only ~23% of total debt suggests the firm generates limited cash relative to its obligations. Even with positive FCF, this low coverage constrains accelerated deleveraging and amplifies refinancing risk if cash generation weakens.

Flutter Entertainment PLC (FLUT) vs. SPDR S&P 500 ETF (SPY)

Flutter Entertainment PLC Business Overview & Revenue Model

Company DescriptionFlutter Entertainment plc operates as a sports betting and gaming company in the United Kingdom, Ireland, Australia, the United States, and internationally. The company operates through four segments: UK & Ireland, Australia, International, and US. It offers sportsbooks and exchange sports betting products, daily fantasy sports products, and pari-mutuel betting products; fixed odds games betting products; online games and casinos; lottery; peer-to-peer games, including online bingo, rummy, and poker; and business-to-business services. In addition, the company operates HRTV, a horseracing television network. Further, it provides sports betting and gaming services through paddypower.com, betfair.com, sportsbet.com.au, tvg.com, us.betfair.com, fanduel.com, adjarabet.com, pokerstars.com, Skybet.com, tombola.com, and sisal.com websites under the FanDuel, Sky Betting & Gaming, Sportsbet, PokerStars, Paddy Power, Sisal, tombola, Betfair, FOX Bet, TVG, Stardust, Junglee Games, and Adjarabet brands, as well as live poker tours and events. The company was formerly known as Paddy Power Betfair plc and changed its name to Flutter Entertainment plc in 2019. The company was incorporated in 1958 and is headquartered in Dublin, Ireland.
How the Company Makes MoneyFlutter Entertainment generates revenue primarily through its online betting and gaming operations. The key revenue streams include sports betting, where customers place wagers on various sporting events, and gaming, which includes online casino games and poker. The company benefits from a high-margin business model, particularly in online gaming, where it retains a percentage of the wagers placed by customers as revenue. Additionally, Flutter has established significant partnerships with various sports leagues and organizations, enhancing its brand visibility and market reach. The company also leverages data analytics to optimize marketing strategies and improve customer retention, contributing further to its earnings.

Flutter Entertainment PLC Earnings Call Summary

Earnings Call Date:Aug 07, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:May 19, 2026
Earnings Call Sentiment Positive
The earnings call highlighted strong financial performance and strategic achievements, particularly in the U.S. and International markets, as well as successful cost efficiency measures. However, significant challenges were noted in terms of net income reduction and adverse impacts from new U.S. tax changes.
Q2-2025 Updates
Positive Updates
Strong Financial Performance
Group revenue increased by 16% and adjusted EBITDA grew 25%, driven by the U.S. business's growth, NSX and Snai acquisitions, and continued International growth. Adjusted earnings per share grew 45%.
U.S. Market Leadership
Flutter maintained its position as the #1 online operator in both sportsbook and iGaming in the U.S., with revenue growth of 17% and exceptional iGaming growth of 42%.
International Expansion Success
Completed Snai and NSX transactions, creating a leadership position in Italy and establishing a scale position in Brazil, with International revenue growing by 15%.
Cost Efficiency Achievements
Successful migrations of PokerStars and Sky Betting & Gaming customers onto shared platforms; expected $300 million savings by 2027.
Positive Strategic Developments
Extended U.S. market access partnership with Boyd, increasing ownership of FanDuel to 100% and securing U.S. state market access on favorable terms.
Negative Updates
Significant Net Income Reduction
Net income reduced by 88% year-over-year due to increased noncash charges, largely related to the Fox Option valuation and amortization of acquired intangibles.
Illinois Wager Fee Impact
Introduction of a $0.50 fee on each bet placed in Illinois due to a new wager fee, significantly increasing operating costs in the state.
Challenges with U.S. Tax Changes
A $40 million adverse impact from U.S. tax changes in Illinois, Louisiana, and New Jersey expected, partially mitigated by Boyd market access savings.
Company Guidance
During Flutter Entertainment's Q2 2025 update call, the company provided an optimistic outlook for the remainder of the year, raising its full-year adjusted EBITDA guidance to $3.295 billion, reflecting a 40% year-over-year growth. The group reported a 16% increase in revenue and a 25% rise in adjusted EBITDA for the quarter. Despite an 88% year-over-year reduction in net income due to increased noncash charges, cash from operating activities increased by $36 million. Notable developments included a U.S. market access agreement extension with Boyd, securing 100% ownership of FanDuel, and entry into Italy and Brazil through Snai and NSX acquisitions. The U.S. market saw revenue grow by 17%, with iGaming revenue up 42% and sportsbook growth of 11%, while internationally, revenue grew by 15% supported by recent acquisitions. Flutter also highlighted its strategic focus on cost efficiency, expecting $300 million in savings by 2027, and maintained its commitment to returning up to $5 billion to shareholders over 3-4 years.

Flutter Entertainment PLC Financial Statement Overview

Summary
Financials are mixed: strong and steady revenue growth and solid free cash flow (~$1.08B in 2025) support the score, but 2025 swung back to a net loss (-$310M), EBITDA margin collapsed (~11.4% to ~0.2%), and leverage rose materially (debt-to-equity ~1.42), increasing risk if profitability doesn’t rebound.
Income Statement
54
Neutral
Revenue has expanded steadily from $6.0B (2020) to $16.4B (2025), indicating strong top-line momentum. However, profitability has been volatile: 2025 posted a net loss (-$310M) after a modest profit in 2024 ($109M), and operating profitability compressed sharply in 2025 versus 2024 (EBITDA margin fell from ~11.4% to ~0.2%). Gross margin remains solid (~45% in 2025) but the swing back to losses and weaker operating leverage weigh on the score.
Balance Sheet
42
Neutral
Leverage increased materially in 2025, with total debt rising to ~$12.9B and debt-to-equity moving up to ~1.42 (from ~0.80 in 2024). Equity is still sizable (~$9.0B), but returns weakened alongside earnings (return on equity turned negative in 2025). The step-up in leverage reduces financial flexibility and increases sensitivity to any further earnings volatility.
Cash Flow
71
Positive
Cash generation is a clear strength: operating cash flow was ~$1.18B in 2025 and free cash flow was ~$1.08B, with free cash flow growth accelerating sharply versus 2024. Cash flow has also been more resilient than net income over time, which helps offset accounting earnings volatility. The main watch-out is that cash flow coverage of debt is not especially high (operating cash flow relative to total debt was ~0.23 in 2025), so higher leverage raises the bar for sustained cash generation.
BreakdownDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue16.38B14.05B11.79B9.46B8.31B
Gross Profit7.40B6.70B5.59B4.65B4.43B
EBITDA1.99B1.60B624.00M987.00M561.00M
Net Income-310.00M109.00M-1.22B-432.00M-923.00M
Balance Sheet
Total Assets29.28B24.51B24.64B24.64B22.72B
Cash, Cash Equivalents and Short-Term Investments3.85B3.59B3.44B2.68B2.32B
Total Debt13.35B7.40B7.53B7.20B5.20B
Total Liabilities19.58B13.24B13.27B12.20B8.79B
Stockholders Equity9.04B9.29B10.04B12.28B13.88B
Cash Flow
Free Cash Flow1.08B941.00M335.00M734.00M194.00M
Operating Cash Flow1.18B1.60B937.00M1.16B553.00M
Investing Cash Flow-5.09B-811.00M-602.00M-2.52B-254.00M
Financing Cash Flow4.04B-469.00M-113.00M1.78B361.00M

Flutter Entertainment PLC Technical Analysis

Technical Analysis Sentiment
Negative
Last Price114.57
Price Trends
50DMA
168.21
Negative
100DMA
195.34
Negative
200DMA
237.53
Negative
Market Momentum
MACD
-16.20
Negative
RSI
29.73
Positive
STOCH
51.09
Neutral
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 114.57 is below the 20-day moving average (MA) of 126.99, below the 50-day MA of 168.21, and below the 200-day MA of 237.53, indicating a bearish trend. The MACD of -16.20 indicates Negative momentum. The RSI at 29.73 is Positive, neither overbought nor oversold. The STOCH value of 51.09 is Neutral, 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 (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
$4.85B55.9029.49%23.15%
73
Outperform
$5.62B17.3932.35%1.34%29.54%4389.69%
70
Outperform
$6.28B19.4288.84%3.22%4.69%15.18%
61
Neutral
$18.38B12.79-2.54%3.03%1.52%-15.83%
61
Neutral
$22.56B30.770.45%18.51%37.25%
50
Neutral
$2.06B-2.53-35.91%8.24%-77.54%
49
Neutral
$20.08B-124.17-2.00%
* Consumer Cyclical Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
FLUT
Flutter Entertainment PLC
114.57
-142.64
-55.46%
PENN
PENN Entertainment
15.47
-3.80
-19.72%
RRR
Red Rock Resorts
59.80
15.27
34.29%
DKNG
DraftKings
25.46
-14.64
-36.51%
RSI
Rush Street Interactive
20.88
10.35
98.29%
SGHC
Super Group (SGHC)
11.21
4.80
74.99%

Flutter Entertainment PLC Corporate Events

Business Operations and StrategyRegulatory Filings and Compliance
Bank of America Boosts Stake in Flutter Entertainment
Positive
Jan 28, 2026

On January 28, 2026, Flutter Entertainment disclosed that Bank of America Corporation had filed a major holdings notification after crossing a regulatory threshold in the company’s shares on January 23, 2026, as required under UK transparency rules. The filing shows Bank of America’s overall position in Flutter rising from 5.70% to 12.89% of voting rights, combining a 1.16% interest attached to shares and 11.72% held through a mix of financial instruments including swaps, rights to recall, physical swaps and options, underscoring significantly increased exposure by a major US financial institution and highlighting robust institutional interest in Flutter’s equity and derivatives.

The most recent analyst rating on (FLUT) stock is a Hold with a $178.00 price target. To see the full list of analyst forecasts on Flutter Entertainment PLC stock, see the FLUT Stock Forecast page.

Regulatory Filings and Compliance
Flutter Entertainment reveals major Bank of America stake
Neutral
Jan 27, 2026

On 27 January 2026, Flutter Entertainment plc disclosed that it had released two regulatory announcements in London detailing notifications of major holdings submitted on Standard Form TR-1, in line with UK Financial Conduct Authority disclosure and transparency rules. The filings show that Bank of America Corporation crossed a reporting threshold on 16 January 2026 following changes in its position in Flutter through a mix of direct voting rights and financial instruments, bringing its total holding to about 5.36% of Flutter’s voting rights, a development that signals a notable institutional stake and provides investors with greater visibility on the company’s evolving shareholder base.

The most recent analyst rating on (FLUT) stock is a Hold with a $177.00 price target. To see the full list of analyst forecasts on Flutter Entertainment PLC stock, see the FLUT Stock Forecast page.

Regulatory Filings and Compliance
BlackRock Slightly Reduces Stake in Flutter Entertainment
Neutral
Jan 15, 2026

On January 15, 2026, Flutter Entertainment plc disclosed that BlackRock, Inc. had submitted a major holdings notification after crossing a regulatory reporting threshold in the company’s voting rights on January 13, 2026, with Flutter being notified on January 14, 2026. The filing shows BlackRock’s combined direct and indirect voting interest, including through financial instruments such as securities lending and CFDs, has moved to a level below 5% of Flutter’s voting rights, compared with a previously disclosed aggregate position of 5%, signalling a marginal reduction in the stake of a significant institutional investor and providing updated transparency for shareholders under UK disclosure rules.

The most recent analyst rating on (FLUT) stock is a Hold with a $228.00 price target. To see the full list of analyst forecasts on Flutter Entertainment PLC stock, see the FLUT Stock Forecast page.

Regulatory Filings and Compliance
Candle Lake Boosts Stake in Flutter Entertainment Plc
Neutral
Jan 5, 2026

On January 5, 2026, Flutter Entertainment plc disclosed that Candle Lake Limited, ultimately controlled by investor Kenneth Bryan Dart, had increased its overall exposure to Flutter to 15.03% of voting rights as of December 29, 2025, combining 9.49% of voting rights attached to shares and 5.54% held through financial instruments, primarily cash-settled total return swaps. The notification, made public on January 2, 2026, indicates a significant jump from a previously reported 10.06% position and underscores growing concentrated ownership in Flutter, which may be closely watched by shareholders and regulators given the use of derivatives to build a sizable economic interest in the company without equivalent direct share ownership.

The most recent analyst rating on (FLUT) stock is a Buy with a $313.00 price target. To see the full list of analyst forecasts on Flutter Entertainment PLC stock, see the FLUT Stock Forecast page.

Regulatory Filings and Compliance
BlackRock Reduces Stake Below 5% in Flutter Entertainment
Neutral
Dec 23, 2025

On December 23, 2025, Flutter Entertainment plc disclosed that BlackRock, Inc. had submitted a TR-1 notification after its holding in Flutter fell below the 5% threshold of voting rights, following an acquisition or disposal of voting rights that crossed the threshold on December 19, 2025 and was notified to the issuer on December 22, 2025. The filing, made via London’s Regulatory News Service to comply with UK transparency requirements, confirms that BlackRock’s combined position in Flutter, including shares and financial instruments such as securities lending and CFDs, is now below 5%, signaling a reduction in a major institutional shareholder’s stake while underscoring Flutter’s ongoing adherence to market disclosure standards for significant changes in ownership.

The most recent analyst rating on (FLUT) stock is a Buy with a $300.00 price target. To see the full list of analyst forecasts on Flutter Entertainment PLC stock, see the FLUT Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
BlackRock Increases Stake in Flutter Entertainment
Neutral
Dec 17, 2025

On December 17, 2025, Flutter Entertainment PLC disclosed that BlackRock, Inc., a major US-based asset management company, crossed the 5% voting rights threshold in Flutter on December 15, 2025. This notification, in compliance with UK FCA’s rules, reflects BlackRock’s notable influence within the company’s ownership structure, signaling possible strategic implications for stakeholders.

The most recent analyst rating on (FLUT) stock is a Buy with a $307.00 price target. To see the full list of analyst forecasts on Flutter Entertainment PLC stock, see the FLUT Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

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.Date of analysis: Feb 28, 2026