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Flutter Entertainment

FLUT on NYSE. Flutter Entertainment sells sports betting and casino games to customers. Market value $13.1bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Not a fit for our list right now

Why it could be worth it

What to watch out for

See Technology stocks that passed both tests

This is not advice. Check the numbers below.

Compare with another stock

Cash yield
past 12 months to June 2026
5.2%fair

For every $100 of what the whole company costs, it produced $5.15 of spare cash in the past 12 months. A savings account pays about $4.

Price to profit
past 12 months to June 2026
n/a

The filings do not give us enough to work this out.

Return on capital
five annual reports to December 2025
n/a

The filings do not give us enough to work this out.

Quality score: not known. Price score: 28 of 100. Our list needs 70 on quality and 60 on price.

$76.25 a share, 4% above its 1-year low

Over the past year the price has ranged from $73.50 to $255.26.

Dividend: 0.2% a year

Paid every year for 2 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
1.1
0.6
0.7
2017201820192024202512 monthsto Jun '26
Revenue
n/an/an/a$14.0bn$16.4bn
Operating margin
n/an/an/a6.2%0.2%
Debt to equity
n/an/an/a0.731.36
Shares outstanding
0.15bn0.15bn0.15bn0.18bn0.17bn

Health checks

  • Free cash flow positive2 of 2 years
  • Accounting looks honest (Beneish)Watch
  • Financial strength (Piotroski)3 of 8 checks we could run
  • Profit backed by cash (accruals)Yes
  • Debt1.36× equity
  • Revenue growth, five yearsUnknown
  • Buying back its own sharesNo, 17% more shares since 2017

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $4.3 billion last quarter, up 3% on a year ago.
  • A loss of $274 million, after a profit of $105 million a year ago.
  • It loses 4 cents on each $1 of sales, after keeping 7 cents a year earlier.
  • Spare cash over the past 12 months: $682 million, down from $910 million.
  • 2% fewer shares than a year ago. Each share owns a bit more of the company.
  • Debt is $10.4 billion more than cash, up from $8.3 billion a year ago.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$3.2bn
December 2024$3.8bn
March 2025$3.7bn
June 2025$4.2bn
September 2025$3.8bn
December 2025$4.7bn
March 2026$4.3bn
June 2026$4.3bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024-$103m
December 2024$81m
March 2025$283m
June 2025$105m
September 2025-$690m
December 2025-$8m
March 2026$218m
June 2026-$274m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
26 February 2026
Next quarterly (estimated, 10-Q)
4 November 2026

Who owns it

3 long-term investors we follow own it, down from 6 last quarter. 403 funds in all.

Jun '25
Dec '25
Jun '26

Sold out this quarter

Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 7 insiders bought $1m of shares on the open market. 14 sold $3m.

  • Coldrake Robert
    Chief Financial Officer
    Sold
    Date
    1 September 2026
    Shares
    710
    Price
    $97.86
    Value
    $69,480
  • Taylor Daniel Mark
    President FLUT; CEO FLUT Intl
    Sold
    Date
    1 September 2026
    Shares
    791
    Price
    $97.86
    Value
    $77,406
  • Bishop James Philip
    Chief Operating Officer
    Sold
    Date
    1 September 2026
    Shares
    741
    Price
    $97.86
    Value
    $72,514
  • Jackson Jeremy Peter
    Chief Executive Officer, Director
    Sold
    Date
    1 September 2026
    Shares
    1,762
    Price
    $97.86
    Value
    $172,428
  • LIU DON H
    Chief Legal Officer
    Sold
    Date
    1 September 2026
    Shares
    565
    Price
    $97.86
    Value
    $55,290
  • Jackson Jeremy Peter
    Chief Executive Officer, Director
    Sold
    Date
    19 August 2026
    Shares
    2,112
    Price
    $93.32
    Value
    $197,085
  • Bomhard Stefan Andreas
    Director
    Sold
    Date
    28 May 2026
    Shares
    177
    Price
    $94.63
    Value
    $16,750
  • Lennon Carolan
    Director
    Sold
    Date
    28 May 2026
    Shares
    439
    Price
    $94.63
    Value
    $41,543
  • Cruickshank Nancy
    Director
    Sold
    Date
    28 May 2026
    Shares
    152
    Price
    $94.63
    Value
    $14,384
  • Dubuc Nancy
    Director
    Sold
    Date
    28 May 2026
    Shares
    135
    Price
    $94.63
    Value
    $12,775

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 26 Feb 2026, plus the 10-Q filed 5 Aug 2026 and 19 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.