Flutter Entertainment (FLUT) financial statements
Flutter Entertainment reported revenue of $16.4B in fiscal 2025, up 46.1% a year over 7 years.
Net income was -$310M.
Free cash flow was $569M, and the company returned $1.1B in net buybacks.
The diluted share count fell 9% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Flutter Entertainment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2B | $1.3B | $2.0B | $2.5B | $9.5B | $11.8B | $14.0B | $16.4B |
| Cost of revenue | — | $247M | $459M | $693M | $4.8B | $6.2B | $7.3B | $9.0B |
| Gross profit | — | $1.1B | $1.6B | $1.8B | $4.7B | $5.6B | $6.7B | $7.4B |
| Research and development | $28M | $25M | $40M | $55M | $552M | $765M | $820M | $991M |
| Selling, general and admin | $585M | $438M | $977M | $1.2B | $4.2B | $5.4B | $5.0B | $5.9B |
| Operating income | — | $447M | $260M | $264M | -$88M | -$549M | $869M | $36M |
| Interest expense | $129M | $108M | $182M | $249M | $216M | $424M | $480M | $576M |
| Pre-tax income | $140M | $286M | -$110M | $62M | -$295M | -$1.1B | $16M | -$121M |
| Income tax | $4M | $27M | -$988,000 | -$197,000 | $75M | $120M | -$146M | $286M |
| Net income | $136M | $259M | -$102M | $63M | -$432M | -$1.2B | $43M | -$310M |
| EPS (diluted) | $0.70 | $1.27 | -$0.49 | $0.22 | -$2.44 | -$6.89 | $0.24 | -$1.75 |
| Diluted shares | 195M | 204M | 208M | 284M | 177M | 177M | 180M | 177M |
| Gross margin | — | 81.1% | 77.4% | 72.6% | 49.1% | 47.4% | 47.7% | 45.2% |
| Operating margin | — | 34.1% | 12.8% | 10.4% | -0.9% | -4.7% | 6.2% | 0.2% |
| Net margin | 11.8% | 19.8% | -5.0% | 2.5% | -4.6% | -10.4% | 0.3% | -1.9% |
Balance sheet
Fiscal years, from Flutter Entertainment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $556M | $633M | $824M | $731M | $966M | $1.7B | $1.7B | $1.9B |
| Receivables | $82M | $100M | $136M | $111M | — | $90M | $98M | $190M |
| Inventory | $515,000 | $300,000 | — | — | — | — | — | — |
| Total current assets | $690M | $790M | $1.0B | $978M | — | $4.0B | $4.3B | $4.8B |
| Property, plant and equipment | $41M | $45M | $85M | $139M | — | $471M | $493M | $630M |
| Goodwill | — | $2.8B | $5.3B | $5.3B | $13.2B | $13.7B | $13.4B | $15.8B |
| Total assets | $5.5B | $5.4B | $11.3B | $11.3B | — | $24.6B | $24.5B | $29.3B |
| Total current liabilities | $848M | $602M | $1.0B | $1.2B | — | $4.5B | $4.6B | $5.0B |
| Long-term debt | $2.4B | $2.4B | $5.4B | $4.9B | — | $7.0B | $6.7B | $12.2B |
| Total liabilities | $3.3B | $3.1B | $7.1B | $6.8B | — | $13.3B | $13.2B | $19.6B |
| Shareholders' equity | $2.2B | $2.3B | $4.1B | $4.5B | $11.2B | $10.0B | $9.3B | $9.0B |
| Net debt | $2.1B | $1.8B | $4.7B | $4.3B | -$966M | $5.6B | $5.2B | $10.4B |
Cash flow
Fiscal years, from Flutter Entertainment's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $350M | $495M | $560M | $671M | $1.2B | $937M | $1.6B | $1.2B |
| Capital spending | $14M | $13M | $62M | $53M | $329M | $427M | $525M | $615M |
| Free cash flow | $335M | $482M | $498M | $618M | $834M | $510M | $1.1B | $569M |
| Stock-based compensation | $10M | $11M | $13M | $19M | $132M | $180M | $196M | $246M |
| Share buybacks (net) | — | — | — | — | -$3M | -$212M | -$219M | -$1.1B |
| Net borrowing | -$46M | -$140M | $3.0B | -$486M | -$2.6B | -$1.8B | -$1.9B | -$5.6B |
| Free cash flow margin | 29.0% | 36.7% | 24.5% | 24.4% | 8.8% | 4.3% | 7.7% | 3.5% |
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Open FLUT in InvestinglyQuestions
What was Flutter Entertainment's revenue in 2025?
$16.4B in fiscal 2025, from its 10-K filing.
How much free cash flow does Flutter Entertainment generate?
$569M in fiscal 2025 (operating cash flow minus capital spending).
From Flutter Entertainment's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.