Upside case
Bull case
—
The bull case requires both strong earnings delivery and the market pricing FLUT more generously than it does today.
Analysis OverviewBuyUpdated May 1, 2026
Flutter Entertainment plc (FLUT) Stock Analysis
Wall Street verdict, consensus price target, and analyst rating breakdown — everything needed to frame the risk/reward at today's price.
Analyst consensus
Buy
Covering
24
analysts
18 bullish · 1 bearish · 24 covering FLUT
Strong Buy
0
Buy
18
Hold
5
Sell
1
Strong Sell
0
Consensus Target
$228
+129.9% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
24
Published analyst ratings
Valuation Context
16.2x
Forward P/E · Market cap $17.3B
FLUT price targets
Three scenarios for where FLUT stock could go
Current
~$99
Confidence
41 / 100
Updated
May 1, 2026
Market caseClosest to today
Base case
—
The base case reflects analyst consensus expectations — steady delivery without requiring a major catalyst or re-rating.
Stress case
Bear case
—
The bear case reflects a scenario where earnings shortfalls or multiple compression combine to materially reduce the stock from its current level.
Not financial advice. Model confidence reflects internal scenario assumptions, not a guarantee of returns. Past performance does not predict future results.
Flutter Entertainment plc
FLUT · NYSEConsumer CyclicalGambling, Resorts & CasinosDecember year-end
Flutter Entertainment is a global sports betting and online gaming operator with leading brands like FanDuel, PokerStars, and Paddy Power. It generates revenue primarily from sports betting margins and casino gaming — with its US segment (FanDuel) now the largest contributor at roughly 40% of revenue — followed by its UK/Ireland and Australian operations. The company's competitive advantage lies in its portfolio of market-leading brands, massive scale across multiple geographies, and sophisticated technology platform that drives customer acquisition and retention.
Market Cap
$17.3B
Revenue TTM
$17.0B
Net Income TTM
-$455M
Net Margin
-2.7%
FLUT Revenue and Earnings Performance
Quarterly beat-or-miss track record against analyst estimates, plus forward revenue and EPS outlook for the next two fiscal years.
EPS Beat Rate
45%Exceptional
12 quarters tracked
Revenue Beat Rate
36%Exceptional
vs consensus estimates
Avg EPS Surprise
-4.0%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q2 2025
Q3 2025
Q4 2025
Q1 2026
Last 4 Quarters
EPS beats: 2 of 4Q2 2025
EPS
$1.59/$1.91
Revenue
$3.7B/$3.8B
Q3 2025
EPS
$2.95/$2.24
Revenue
$4.2B/$4.1B
Q4 2025
EPS
$1.64/$0.61
Revenue
$3.8B/$3.8B
Q1 2026
EPS
$1.74/$1.85
Revenue
$4.7B/$4.9B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| Q2 2025 | $1.59/$1.91 | -16.8% | $3.7B/$3.8B | -2.6% |
| Q3 2025 | $2.95/$2.24 | +31.7% | $4.2B/$4.1B | +1.4% |
| Q4 2025 | $1.64/$0.61 | +169.7% | $3.8B/$3.8B | -0.8% |
| Q1 2026 | $1.74/$1.85 | -5.9% | $4.7B/$4.9B | -4.0% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$19.1B
+16.3% YoY
FY2
$22.2B
+16.6% YoY
EPS Outlook
FY1
$1.25
+169.3% YoY
FY2
$1.93
+54.6% YoY
Trailing FCF (TTM)$880M
FCF Margin: 5.2%
Next Earnings
May 6, 2026
Expected EPS
$1.23
Expected Revenue
$4.2B
FLUT beat EPS estimates in 2 of 4 tracked quarters. Mixed delivery makes the upcoming report a key data point for re-rating.
FLUT Revenue Breakdown by Segment
Product and geographic revenue mix from the latest annual disclosure, with year-over-year growth by segment.
Latest disclosure
FY 2025
Total disclosed revenue $9.7B
Product Mix
Latest annual revenue by segment or product family
International Segment
52.5%
YoY unavailable
Tap, hover, or focus a slice to inspect segment detail.
Geographic Mix
Latest annual revenue by reported region
UNITED STATES
41.3%
+18.1% YoY
Tap, hover, or focus a slice to inspect segment detail.
International Segment is the largest disclosed segment at 52.5% of FY 2025 revenue, with no year-over-year comparison yet.
UNITED STATES is the largest reported region at 41.3%, up 18.1% YoY.
FLUT Valuation Snapshot
Current multiples compared to the S&P 500, the company's sector, and its own five-year average.
Relative Value Signal
Significantly Undervalued
Fair value est. $498 — implies +369.2% from today's price.
Upside to Fair Value
369.2%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
FLUT
-57.3x
vs
S&P 500
25.2x
327% discount
vs Consumer Cyclical Trailing P/E
FLUT
-57.3x
vs
Consumer Cyclical
19.6x
393% discount
vs FLUT 5Y Avg P/E
Today
-57.3x
vs
5Y Average
—
Benchmark unavailable
Forward PE
16.2x
S&P 500
19.1x
-15%
Consumer Cyclical
15.2x
+6%
5Y Avg
—
—
Trailing PE
-57.3x
S&P 500
25.2x
-327%
Consumer Cyclical
19.6x
-393%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.75x
—
Consumer Cyclical
0.95x
—
5Y Avg
—
—
EV/EBITDA
10.5x
S&P 500
15.3x
-31%
Consumer Cyclical
11.4x
-7%
5Y Avg
35.4x
-70%
Price/FCF
16.0x
S&P 500
21.3x
-25%
Consumer Cyclical
15.0x
+7%
5Y Avg
71.0x
-77%
Price/Sales
1.1x
S&P 500
3.1x
-66%
Consumer Cyclical
0.7x
+48%
5Y Avg
2.8x
-63%
Dividend Yield
—
S&P 500
1.88%
—
Consumer Cyclical
2.15%
—
5Y Avg
—
—
| Metric | FLUT | S&P 500 | Consumer Cyclical | 5Y Avg FLUT |
|---|---|---|---|---|
| Forward PE | 16.2x | 19.1x-15% | 15.2x | — |
| Trailing PE | -57.3x | 25.2x-327% | 19.6x-393% | — |
| PEG Ratio | — | 1.75x | 0.95x | — |
| EV/EBITDA | 10.5x | 15.3x-31% | 11.4x | 35.4x-70% |
| Price/FCF | 16.0x | 21.3x-25% | 15.0x | 71.0x-77% |
| Price/Sales | 1.1x | 3.1x-66% | 0.7x+48% | 2.8x-63% |
| Dividend Yield | — | 1.88% | 2.15% | — |
FLUT trades above S&P 500 benchmarks on 0 of 5 measured multiples — appears modestly priced relative to the S&P 500 on most measures.
Forward P/E and PEG reflect analyst consensus estimates. Historical averages use trailing ratios where forward data is unavailable.S&P 500 and sector benchmarks both use trailing median P/E — similar readings indicate the broader index and sector are priced alike.
Open valuation toolFLUT Financial Health
Verdict
Stressed
FLUT returns 6.5% of market cap to shareholders annually.
Cash Engine
Revenue, margins, and cash generation
Revenue (TTM)
Trailing-twelve-month sales base
$17.0B
Revenue Growth
TTM vs prior year
+18.9%
Gross Margin
Gross profit as a share of revenue
44.2%
Operating Margin
Operating income divided by revenue
4.4%
Net Margin
Net income divided by revenue
-2.7%
EPS (TTM)
Diluted earnings per share, trailing twelve months
—
Free Cash Flow (TTM)
Cash generation after capex
$880M
FCF Margin
FCF as share of revenue — the primary cash quality signal
5.2%
Capital Quality
ROIC, leverage, and debt serviceability
ROIC
Return on invested capital — primary competitive quality signal
4.5%
ROA
Return on assets, trailing twelve months
-1.6%
Cash & Equivalents
Liquid assets on the balance sheet
$3.8B
Net Debt
Total debt minus cash
$9.5B
Debt Serviceability
Net debt as a multiple of annual free cash flow
10.8× FCF
~10.8 years to full repayment at current FCF run-rate
ROE
Return on equity, trailing twelve months
-4.4%
Shareholder Returns
How capital is returned to owners
Total shareholder yield
6.5%
Dividend
—
Buyback
6.5%
Share Repurchases
Trailing buyback outflow — dollar magnitude of capital returned
$1.1B
Dividend / Share
Annualized trailing dividend per share
—
Payout Ratio
Share of earnings distributed as dividends
—
Shares Outstanding
Declining as buybacks retire shares
174M
All figures from the trailing twelve months. ROIC uses invested capital (equity + net debt).
Open full ratios pageFLUT Stock Risk Factors
Key factors that could pressure the stock price, compress the multiple, or weigh on future results.
AI analysis · updated April 29, 2026
High Risk
Regulatory and Tax Changes
Flutter Entertainment faces significant risks from changes in the pace of state legalization for online sports betting and iGaming, along with potential increases in tax rates and regulatory penalties. These factors could adversely affect the company's growth and profitability.
High Risk
Financial Distress and Bankruptcy Risk
There is a 21.63% probability that Fluence Energy Inc. will face financial distress in the next 24 months, based on the Altman Z-score, Beneish M-score, and macro-economic conditions. This level of risk poses a serious threat to its financial stability.
High Risk
Debt and Leverage
Fluence Energy has liabilities totaling $1.35 billion due within 12 months and $428.6 million due beyond that, which exceed its cash and near-term receivables by $687.2 million. This significant leverage relative to its market capitalization raises concerns about its financial health.
Medium
Competition
Flutter Entertainment is facing increased competition from other operators, including advancements in product offerings by competitors like DraftKings. This heightened competition could impact Flutter's market share and profit margins.
Medium
Profitability and Efficiency
Flutter Entertainment has a negative net profit margin of -1.9% and a deeply negative forward P/E ratio, indicating that the market is paying a high price for earnings that are still in the red. This raises concerns about the company's ability to achieve profitability.
Medium
US Market Slowdown and Investment Impact
Softer near-term US engagement trends and increased investment spending on its predictive sports betting platform could lead to slower growth for Flutter. If these investments do not yield the desired impact, revenues may be adversely affected.
Lower
Legal and Accounting Scrutiny
Flutter is facing scrutiny due to recent insider trading scandals related to prediction markets, which have led to downgrades for some stocks in the sector. This could negatively impact investor sentiment towards Flutter Entertainment.
Lower
Valuation Concerns
The stock's valuation is considered high by some analysts, reflecting strong investor expectations for future earnings that may not be met. This could lead to potential corrections in the stock price if performance does not align with expectations.
These are risk mechanisms, not predictions. The key question is which would force a cut to earnings estimates or a lower multiple than the market currently prices in.
Why FLUT Stock Could Outperform
Structural drivers behind the upside case and why the stock could outperform over the next 12 months.
AI analysis · updated April 29, 2026
Dominant U.S. Presence
FanDuel is the leading online sportsbook operator in the United States, a rapidly growing market. This strong foothold provides a significant advantage for future growth.
Global Reach
Flutter operates a diverse portfolio of brands across various international markets, including Sisal in Italy, which diversifies its revenue streams and reduces reliance on any single market.
Online Gaming Growth
The online gaming industry is expected to continue its expansion, and Flutter is well-positioned to capitalize on this trend with its established brands and user base of over 100 million globally.
U.S. Expansion
Continued legalization of online sports betting and iGaming in more U.S. states is a key driver for future revenue growth.
iGaming Expansion Catalyst
Faster legalization of iGaming in more states could provide a significant boost to Flutter's revenue potential.
World Cup Customer Acquisition
The upcoming FIFA World Cup is viewed as a major event for customer acquisition, potentially driving significant engagement and revenue.
A real bull case compounds — each driver matters most when it strengthens margins, supports capital returns, and keeps the company above the market's minimum growth bar simultaneously.
FLUT Stock Price Performance
52-week range context and price returns across multiple time horizons. Dividend contribution is shown separately in the Capital Return section.
Current Price
$99.11
52W Range Position
1%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$97.94
+1.2% from the low
52-Week High
$313.69
-68.4% from the high
1 Month
-5.31%
3 Month
-35.02%
YTD
-54.6%
1 Year
-59.6%
3Y CAGR
-20.6%
5Y CAGR
-13.3%
10Y CAGR
-3.5%
Range context matters because valuation compression and earnings misses rarely hit from the same starting point. A stock already far below its high can still fall, but it is no longer carrying the same embedded optimism as one pressing a fresh peak.
FLUT vs Peers
Valuation, growth, and margin comparison against the closest publicly traded peers for this company.
Peer Set
Accurate peer set
Forward PE
16.2x
vs 22.5x median
-28% below peer median
Revenue Growth
+16.3%
vs +6.4% median
+154% above peer median
Net Margin
-2.7%
vs 0.1% median
-4461% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
FLU FLUT Flutter Entertainment plc | $17.3B | 16.2x | +16.3% | -2.7% | Buy | +129.9% |
DKN DKNG DraftKings Inc. | $11.9B | 94.0x | +25.4% | 0.1% | Buy | +54.2% |
MGM MGM MGM Resorts International | $9.8B | 22.2x | +6.8% | 1.0% | Buy | +3.9% |
CZR CZR Caesars Entertainment, Inc. | $5.7B | — | +5.8% | -4.2% | Buy | +10.1% |
BYD BYD Boyd Gaming Corporation | $6.4B | 11.9x | +4.6% | 45.0% | Buy | +11.6% |
PEN PENN PENN Entertainment, Inc. | $2.2B | 22.9x | +6.4% | -12.1% | Buy | +18.7% |
This peer comparison reflects companies with similar business models, product lines, or market positioning, supplemented by industry grouping when direct matches are limited.
FLUT Dividend and Capital Return
FLUT does not currently return meaningful capital to shareholders.
Dividend UnknownFCF Unknown
Total Shareholder Yield
0.0%
Dividend + buyback return per year
Buyback Yield
0.0%
Dividend Yield
—
Payout Ratio
—
Dividend Profile
Yield, cadence, and growth quality
Dividend / Share
Trailing annualized cash dividend
$0.00
Growth Streak
Consecutive years of dividend increases
1Y
3Y Div CAGR
—
5Y Div CAGR
—
Ex-Dividend Date
—
Payment Cadence
Annual
0 payments over the last 12 months
Buyback Engine
How much per-share support comes from repurchases
Repurchases (TTM)
Cash used for buybacks in the latest trailing period
$1.1B
Estimated Shares Retired
11M
Approx. Share Reduction
6.5%
Shares Outstanding
Current diluted share count from the screening snapshot
174M
At 6.5%/year, buybacks mechanically lift EPS even with flat earnings — each remaining share represents a slightly larger piece of the company.
| Year | Div / Share | YoY Grw | BB Yield | Total Yield |
|---|---|---|---|---|
| 2020 | $1.33 | -32.4% | 0.0% | 0.0% |
| 2019 | $1.97 | -1.0% | 1.2% | 3.4% |
| 2018 | $1.99 | -10.0% | — | — |
| 2017 | $2.21 | -8.8% | — | — |
| 2016 | $2.42 | +51.9% | — | — |
FAQ
7 questionsFLUT Investor Questions
Common questions answered from live analyst data and company financials.
01Is Flutter Entertainment plc (FLUT) stock a buy or sell in 2026?
Flutter Entertainment plc (FLUT) is rated Buy by Wall Street analysts as of 2026. Of 24 analysts covering the stock, 18 rate it Buy or Strong Buy, 5 rate it Hold, and 1 rate it Sell or Strong Sell. The consensus 12-month price target is $228, implying +129.9% from the current price of $99.
02What is the FLUT stock price target for 2026?
The Wall Street consensus price target for FLUT is $228 based on 24 analyst estimates. The high-end target is $315 (+217.8% from today), and the low-end target is $140 (+41.3%).
03Is Flutter Entertainment plc (FLUT) stock overvalued in 2026?
FLUT trades at 16.2x times forward earnings. The stock currently trades at a discount to the broader market. Based on current multiples versus the peer group, the relative model signals significantly undervalued. Whether the stock is over or undervalued ultimately depends on whether consensus earnings estimates are achievable.
04What are the main risks for Flutter Entertainment plc (FLUT) stock in 2026?
The primary risks for FLUT in 2026 are: (1) Regulatory and Tax Changes — Flutter Entertainment faces significant risks from changes in the pace of state legalization for online sports betting and iGaming, along with potential increases in tax rates and regulatory penalties. (2) Financial Distress and Bankruptcy Risk — There is a 21. (3) Debt and Leverage — Fluence Energy has liabilities totaling $1. Each factor has the potential to pressure earnings or compress the stock's valuation multiple.
05What is Flutter Entertainment plc's revenue and earnings forecast?
Analyst consensus estimates FLUT will report consensus revenue of $19.1B (+16.3% year-over-year) and EPS of $1.25 (+169.3% year-over-year) for the upcoming fiscal year. The following year, analysts project $22.2B in revenue.
06When does Flutter Entertainment plc (FLUT) report its next earnings?
Flutter Entertainment plc is expected to report its next earnings on approximately 2026-05-06. Consensus expects EPS of $1.23 and revenue of $4.2B. Over recent quarters, FLUT has beaten EPS estimates 45% of the time.
07How much free cash flow does Flutter Entertainment plc generate?
Flutter Entertainment plc (FLUT) generated $880M in free cash flow over the trailing twelve months — a free cash flow margin of 5.2%. FLUT returns capital to shareholders through and share repurchases ($1.1B TTM).