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Flutter Entertainment PLC
(NYSE:FLUT)
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Rating:46Neutral
Price Target:
$103.00
▲(1.73% Upside)
Action:Reiterated
Date:08/05/26
FLUT scores low primarily due to balance-sheet deterioration (higher debt and negative equity) and the earnings reset highlighted by guidance cuts, a Q2 net loss, and elevated leverage. Technicals also reflect a weak longer-term trend. Strong revenue momentum and positive free cash flow provide some support but are not enough to offset the near-term profitability and financial-risk concerns.
Positive Factors
Robust revenue momentum
Sustained top-line acceleration and recent quarter growth reflect broad product and geographic demand, supporting scale economies. Durable revenue momentum underpins customer investment, content deals and tech spend, enabling longer-term market share gains and resilience versus single-market volatility.
Negative Factors
Weakened balance sheet
A large increase in debt and negative equity materially reduce financial flexibility, raising refinancing and interest risks. High leverage constrains strategic options, limits the ability to absorb shocks or accelerate buybacks/M&A, and makes the company more sensitive to macro and earnings volatility.
Read all positive and negative factors
Positive Factors
Negative Factors
Robust revenue momentum
Sustained top-line acceleration and recent quarter growth reflect broad product and geographic demand, supporting scale economies. Durable revenue momentum underpins customer investment, content deals and tech spend, enabling longer-term market share gains and resilience versus single-market volatility.
Read all positive factors
Flutter Entertainment PLC (FLUT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$18.17B
Dividend YieldN/A
Average Volume (3M)2.52M
Price to Earnings (P/E)―
Beta (1Y)1.19
Revenue Growth18.90%
EPS Growth-172.89%
CountryUS
Employees28,518
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-4.24
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda<0.01
Forecast
1Y Price Target
$130.90Price Target Upside29.28% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering24
EPS Forecast (FY)5.25
Revenue Forecast (FY)$18.05B
Flutter Entertainment PLC Business Overview & Revenue Model
Company Description
Flutter Entertainment plc operates as a sports betting and gaming company in the United States, the United Kingdom, Ireland, Australia, Italy, and internationally. It provides sportsbooks; iGaming products, such as blackjack, roulette, slot machin...
How the Company Makes Money
Flutter Entertainment makes money primarily by operating regulated online gambling platforms and retaining a share of customer wagering and spend across several product lines. (1) Sports betting: Customers place bets on sporting events; Flutter’s ...
Flutter Entertainment PLC Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Neutral
The call conveyed a mixed picture: strong operational momentum in key product areas (FanDuel engagement, loyalty rollout, international growth, and an emerging market-making revenue stream) and credible cost-transformation plans are offset by a substantial near-term hit to profitability, elevated promotional spend, one-off tax and restructuring charges, weaker U.S. revenues in Q2, reduced full-year guidance and higher leverage. Management is deliberately prioritizing investment to capture long-term share, accepting short-term earnings pressure.Positive Updates
Group revenue growth
Group revenue grew 3% in Q2 2026 (benefitting from M&A and FIFA World Cup engagement), demonstrating resiliency in top-line despite mixed market conditions.
Negative Updates
Sharp decline in profitability (adjusted EBITDA)
Adjusted EBITDA declined 45% in Q2 2026, driven by the U.K. gaming tax increase, planned investments in prediction markets and FIFA World Cup marketing, and higher promotional/generosity spend.
Read all updates
Q2-2026 Updates
Positive
Negative
Group revenue growth
Group revenue grew 3% in Q2 2026 (benefitting from M&A and FIFA World Cup engagement), demonstrating resiliency in top-line despite mixed market conditions.
Read all positive updates
Company Guidance
The company updated its 2026 guidance with group revenue midpoint cut by $395m to $17.91bn and adjusted EBITDA midpoint reduced by $210m to $2.655bn; capex guidance improved to $815m and depreciation & amortization guidance trimmed to $730m. Management said the update reflects expected market‑making revenue (and an adjusted EBITDA benefit) of $50m, an H2 U.S. operating cost saving of $45m, the confirmed one‑week NFL start delay (~$75m revenue and ~$50m adjusted EBITDA headwind), higher group transaction/restructuring/integration costs of ~ $500m (up ~ $200m), and $95m of historical tax provisions. Q2 produced a net loss of $296m (vs. $37m income a year earlier), loss per share $1.57 and adjusted loss per share $0.49, free cash flow down 56% YoY, ending leverage 4.3x (target 2.0–2.5x medium term), management assumes Q3 roughly breakeven EBITDA and Q4 ~ $500m (vs. prior ~ $700m), and reiterated Phase 1 savings >$300m (+$200m U.K. mitigation) by 2027 and a Phase 2 target of $500m gross savings by 2029.Flutter Entertainment PLC Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
18
Very Negative
Cash Flow
64
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.16B | 16.38B | 14.05B | 11.79B | 9.46B | 8.31B |
| Gross Profit | 7.29B | 7.40B | 6.70B | 5.59B | 4.65B | 4.43B |
| EBITDA | 1.59B | 1.98B | 1.60B | 624.00M | 999.00M | 669.00M |
| Net Income | -795.00M | -380.00M | 109.00M | -1.22B | -432.00M | -923.00M |
Balance Sheet | ||||||
| Total Assets | 28.21B | 29.28B | 24.51B | 24.64B | 24.64B | 22.72B |
| Cash, Cash Equivalents and Short-Term Investments | 1.56B | 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 | 18.86B | 19.58B | 13.24B | 13.27B | 12.20B | 8.79B |
| Stockholders Equity | 8.75B | 9.04B | 9.29B | 10.04B | 12.28B | 13.88B |
Cash Flow | ||||||
| Free Cash Flow | 921.14M | 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 | -788.38M | -5.09B | -811.00M | -602.00M | -2.52B | -254.00M |
| Financing Cash Flow | -421.13M | 4.04B | -469.00M | -113.00M | 1.78B | 361.00M |
Flutter Entertainment PLC Technical Analysis
Negative
101.25
Price Trends
104.21
Negative
103.95
Negative
145.44
Negative
Market Momentum
-1.76
Positive
34.99
Neutral
27.85
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 101.25 is below the 20-day moving average (MA) of 104.59, below the 50-day MA of 104.21, and below the 200-day MA of 145.44, indicating a bearish trend. The MACD of -1.76 indicates Positive momentum. The RSI at 34.99 is Neutral, neither overbought nor oversold. The STOCH value of 27.85 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 |
|---|---|---|---|---|---|---|---|
74 Outperform | $7.11B | 29.12 | 31.93% | 2.99% | 19.93% | 79.81% | |
72 Outperform | $5.93B | 88.67 | 20.44% | ― | 34.29% | 14.69% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | $6.72B | 15.42 | 96.22% | 3.18% | 3.75% | 20.20% | |
53 Neutral | $20.88B | 190.58 | 7.88% | ― | 25.80% | ― | |
52 Neutral | $2.75B | -3.06 | -48.48% | ― | 6.38% | -1099.20% | |
46 Neutral | $18.17B | -50.11 | -5.28% | ― | 18.90% | -172.89% |
* Consumer Cyclical Sector Average
FLUT
Flutter Entertainment PLC
93.01
-187.58
-66.85%
PENN
PENN Entertainment
20.13
3.17
18.69%
RRR
Red Rock Resorts
62.91
8.41
15.42%
DKNG
DraftKings
22.17
-20.71
-48.30%
RSI
Rush Street Interactive
25.08
6.51
35.06%
SGHC
Super Group (SGHC)
12.99
2.71
26.34%
Flutter Entertainment PLC Corporate Events
Business Operations and StrategyExecutive/Board Changes
Flutter Entertainment names Dan Taylor as new CEO
Positive
Aug 5, 2026
On August 5, 2026, Flutter’s board announced that Dan Taylor, currently President and CEO of the International division, will become Group Chief Executive Officer and join the board on October 1, 2026. He will succeed Peter Jackson, who will...
Business Operations and StrategyExecutive/Board ChangesFinancial Disclosures
Flutter Entertainment Posts Q2 Loss, Lowers 2026 Guidance
Negative
Aug 5, 2026
On August 5, 2026, Flutter reported its Q2 2026 results, showing group revenue up 3% year-on-year to $4.33bn but swinging to a net loss of $296m from a $37m profit in Q2 2025. Profitability was hit by historical tax provisions, higher interest and...
Business Operations and StrategyDelistings and Listing Changes
Flutter Completes London Delisting, Focuses on NYSE Listing
Neutral
Aug 3, 2026
On August 3, 2026, Flutter Entertainment plc confirmed it had completed the cancellation of its secondary listing on the London Stock Exchange and removal from the U.K. Financial Conduct Authority’s Official List. The move follows an earlier...
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.