Flutter Entertainment PLC (FLUT)
NYSE:FLUT
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Flutter Entertainment PLC
(NYSE:FLUT)
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Rating:53Neutral
Price Target:
$99.00
▼(-10.07% Downside)
Action:Reiterated
Date:05/20/26
The score is held back primarily by mixed financial performance (earnings volatility and higher leverage despite positive cash flow) and weak technicals (below key moving averages with negative MACD). Offsetting factors include a reasonable P/E and a mostly constructive earnings call with reiterated guidance, strong revenue growth, and cost-savings/buyback execution, though near-term cash conversion and leverage remain key watch items.
Positive Factors
Revenue Growth & Scale
Sustained top-line growth (17% in Q1) reflects multi-brand scale, acquisitions and geographic expansion. Durable revenue momentum across sportsbook and iGaming supports margin leverage potential, cross-sell synergies and resilience across regulated markets over the medium term.
Negative Factors
Elevated Leverage
Material increase in leverage and ~$12.6B total debt heighten balance-sheet vulnerability. Higher interest costs and a 3.7x Q1 leverage profile constrain strategic optionality; failure to materially improve EBITDA or cash conversion would prolong refinancing risk and pressure capital allocation.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Scale
Sustained top-line growth (17% in Q1) reflects multi-brand scale, acquisitions and geographic expansion. Durable revenue momentum across sportsbook and iGaming supports margin leverage potential, cross-sell synergies and resilience across regulated markets over the medium term.
Read all positive factors
Flutter Entertainment PLC (FLUT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$16.93B
Dividend YieldN/A
Average Volume (3M)2.52M
Price to Earnings (P/E)21.1
Beta (1Y)1.26
Revenue Growth18.90%
EPS Growth-172.89%
CountryUS
Employees27,345
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-2.08
Shares Outstanding173,972,200
10 Day Avg. Volume3,134,316
30 Day Avg. Volume2,517,801
Financial Highlights & Ratios
PEG Ratio0.15
Price to Book (P/B)4.26
Price to Sales (P/S)2.35
P/FCF Ratio35.67
Enterprise Value/Market Cap1.53
Enterprise Value/Revenue1.52
Enterprise Value/Gross Profit3.44
Enterprise Value/Ebitda12.60
Forecast
1Y Price Target
$151.44Price Target Upside37.57% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering25
EPS Forecast (FY)5.82
Revenue Forecast (FY)$18.30B
Flutter Entertainment PLC Business Overview & Revenue Model
Company Description
Flutter 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...
How the Company Makes Money
Flutter primarily makes money by operating online betting and gaming platforms and retaining a share of customer wagering activity as “net gaming revenue” (also commonly described as gross gaming revenue less incentives). Key revenue streams inclu...
Flutter Entertainment PLC Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Positive
The call presented a predominantly constructive operational story: strong top-line momentum across the group (17% revenue growth) driven by robust iGaming (+28%) and sportsbook (+10%), successful product launches (loyalty, Bet Protect+), international wins (Italy, Brazil) and encouraging early signs in prediction market market-making. However, meaningful near-term challenges remain—profitability and cash conversion were pressured (net income and free cash flow declines, modest adjusted EBITDA growth), U.S. sportsbook AMPs and customer base weakness, regulatory uncertainty for prediction markets, and a leverage level of 3.7x. Management emphasized active remediation plans, cost transformation delivery, continued buybacks, and maintained full-year underlying guidance, conveying confidence in a recovery trajectory. Overall, positives around revenue growth, product adoption and international execution outweigh the short-term financial and execution headwinds, while leaving a need to monitor profitability and leverage progress closely.Positive Updates
Strong Group Revenue Growth
Group revenue grew 17% year-over-year in Q1 2026, driven by acquisitions (Snai, Betnacional) and a positive year-over-year swing in sports results.
Negative Updates
Profitability & EPS Decline
Adjusted EBITDA rose only 2% in Q1 despite 17% revenue growth; net income declined by $126 million to $209 million year-over-year and earnings per share fell to $1.23 (adjusted EPS $1.22).
Read all updates
Q1-2026 Updates
Positive
Negative
Strong Group Revenue Growth
Group revenue grew 17% year-over-year in Q1 2026, driven by acquisitions (Snai, Betnacional) and a positive year-over-year swing in sports results.
Read all positive updates
Company Guidance
Management reiterated unchanged underlying full‑year 2026 guidance, with group revenue now expected at $18.3bn (midpoint) and adjusted EBITDA of $2.865bn—about +12% and +1% year‑over‑year respectively—while noting only technical adjustments for unfavorable Q1 U.S. sports results and Arkansas launch costs; Q2 expectations remain unchanged. They finished Q1 with 3.7x leverage (targeting 2.0–2.5x over the medium term, with leverage to rise through Q2–Q3 then fall in Q4), continue a $250m H1 buyback ( $190m returned as of May 1), are on track to deliver $300m run‑rate cost savings by year‑end, and left capex guidance unchanged despite higher Q1 spend; Q1 reported 17% revenue growth and +2% adjusted EBITDA, net income $209m (down $126m YoY), EPS $1.23/$1.22 (reported/adjusted), net cash from operations +$142m (+76% YoY, aided by a $153m player‑funds swing) while free cash flow declined 46%. They also signaled disciplined, optionality‑driven investment behind prediction markets (≈$40m in Q1, ramping into Q2 and the second half) and reiterated focus on deleveraging and efficiency.Flutter Entertainment PLC Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
45
Neutral
Cash Flow
63
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.02B | 16.38B | 14.05B | 11.79B | 9.46B | 8.31B |
| Gross Profit | 7.53B | 7.40B | 6.70B | 5.59B | 4.65B | 4.43B |
| EBITDA | 2.05B | 1.99B | 1.60B | 624.00M | 987.00M | 561.00M |
| Net Income | -457.00M | -310.00M | 109.00M | -1.22B | -432.00M | -923.00M |
Balance Sheet | ||||||
| Total Assets | 28.47B | 29.28B | 24.51B | 24.64B | 24.64B | 22.72B |
| Cash, Cash Equivalents and Short-Term Investments | 3.53B | 3.85B | 3.59B | 3.44B | 2.68B | 2.32B |
| Total Debt | 12.56B | 13.35B | 7.40B | 7.53B | 7.20B | 5.20B |
| Total Liabilities | 18.77B | 19.58B | 13.24B | 13.27B | 12.20B | 8.79B |
| Stockholders Equity | 9.06B | 9.04B | 9.29B | 10.04B | 12.28B | 13.88B |
Cash Flow | ||||||
| Free Cash Flow | 728.14M | 1.08B | 941.00M | 335.00M | 734.00M | 194.00M |
| Operating Cash Flow | 1.33B | 1.18B | 1.60B | 937.00M | 1.16B | 553.00M |
| Investing Cash Flow | -3.48B | -5.09B | -811.00M | -602.00M | -2.52B | -254.00M |
| Financing Cash Flow | 2.17B | 4.04B | -469.00M | -113.00M | 1.78B | 361.00M |
Flutter Entertainment PLC Technical Analysis
Negative
110.08
Price Trends
104.61
Negative
134.19
Negative
193.22
Negative
Market Momentum
-3.63
Positive
41.92
Neutral
30.12
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 110.08 is above the 20-day moving average (MA) of 102.06, above the 50-day MA of 104.61, and below the 200-day MA of 193.22, indicating a bearish trend. The MACD of -3.63 indicates Positive momentum. The RSI at 41.92 is Neutral, neither overbought nor oversold. The STOCH value of 30.12 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | $6.99B | 15.71 | 28.52% | 1.34% | 19.93% | 79.81% | |
73 Outperform | $6.44B | 61.26 | 26.36% | ― | 28.20% | 310.24% | |
68 Neutral | $22.91B | 124.99 | 7.88% | ― | 25.80% | ― | |
67 Neutral | $5.44B | 18.10 | 96.22% | 3.22% | 3.75% | 20.20% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
60 Neutral | $2.21B | -217.94 | -44.48% | ― | 6.38% | -1099.20% | |
53 Neutral | $16.93B | 21.12 | -3.56% | ― | 18.90% | -172.89% |
* Consumer Cyclical Sector Average
FLUT
Flutter Entertainment PLC
97.50
-142.46
-59.37%
PENN
PENN Entertainment
16.12
1.92
13.52%
RRR
Red Rock Resorts
51.59
8.44
19.57%
DKNG
DraftKings
25.54
-10.00
-28.14%
RSI
Rush Street Interactive
28.00
16.39
141.17%
SGHC
Super Group (SGHC)
13.87
5.87
73.48%
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.