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 Jun 18, 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
$189
+85.5% vs today
Scenario Range
— – —
Model bear to bull value window
Coverage
24
Published analyst ratings
Valuation Context
17.8x
Forward P/E · Market cap $17.7B
FLUT price targets
Three scenarios for where FLUT stock could go
Current
~$102
Confidence
53 / 100
Updated
Jun 18, 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
$17.7B
Revenue TTM
$17.0B
Net Income TTM
-$457M
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
64%Exceptional
12 quarters tracked
Revenue Beat Rate
55%Exceptional
vs consensus estimates
Avg EPS Surprise
+21.6%
above Street consensus
Beat / Miss Record
BeatMissLeft = EPS · Right = Revenue
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Last 4 Quarters
EPS beats: 3 of 4Q3 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
Q2 2026
EPS
$1.22/$1.09
Revenue
$4.3B/$4.2B
| Quarter | EPS (Actual / Est) | EPS Surprise | Revenue (Actual / Est) | Rev Surprise |
|---|---|---|---|---|
| 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% |
| Q2 2026 | $1.22/$1.09 | +11.9% | $4.3B/$4.2B | +1.6% |
FY1–FY2 Estimates
Revenue Outlook
FY1
$18.7B
+9.7% YoY
FY2
$20.1B
+7.5% YoY
EPS Outlook
FY1
$-0.74
+70.9% YoY
FY2
$-0.46
+38.4% YoY
Trailing FCF (TTM)$728M
FCF Margin: 4.3%
Next Earnings
August 6, 2026
Expected EPS
$0.55
Expected Revenue
$4.3B
FLUT beat EPS estimates in 3 of 4 tracked quarters. A strong delivery record supports forward estimate credibility.
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 $16.4B
Product Mix
Latest annual revenue by segment or product family
International Segment
57.5%
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 57.5% 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
Cheap versus peers
Fair value est. $143 — implies +40.6% from today's price.
Upside to Fair Value
40.6%
potential upside
Deep DiscountFair ValueVery Expensive
vs S&P 500 Trailing P/E
FLUT
-58.9x
vs
S&P 500
24.4x
341% discount
vs Consumer Cyclical Trailing P/E
FLUT
-58.9x
vs
Consumer Cyclical
21.2x
378% discount
vs FLUT 5Y Avg P/E
Today
-58.9x
vs
5Y Average
—
Benchmark unavailable
Forward PE
17.8x
S&P 500
18.8x
-5%
Consumer Cyclical
16.3x
+9%
5Y Avg
—
—
Trailing PE
-58.9x
S&P 500
24.4x
-341%
Consumer Cyclical
21.2x
-378%
5Y Avg
—
—
PEG Ratio
—
S&P 500
1.66x
—
Consumer Cyclical
0.92x
—
5Y Avg
—
—
EV/EBITDA
10.7x
S&P 500
15.2x
-30%
Consumer Cyclical
12.2x
-12%
5Y Avg
35.4x
-70%
Price/FCF
16.4x
S&P 500
20.7x
-21%
Consumer Cyclical
15.6x
+6%
5Y Avg
71.0x
-77%
Price/Sales
1.1x
S&P 500
3.1x
-65%
Consumer Cyclical
0.7x
+55%
5Y Avg
2.8x
-62%
Dividend Yield
—
S&P 500
1.91%
—
Consumer Cyclical
2.17%
—
5Y Avg
—
—
| Metric | FLUT | S&P 500 | Consumer Cyclical | 5Y Avg FLUT |
|---|---|---|---|---|
| Forward PE | 17.8x | 18.8x | 16.3x | — |
| Trailing PE | -58.9x | 24.4x-341% | 21.2x-378% | — |
| PEG Ratio | — | 1.66x | 0.92x | — |
| EV/EBITDA | 10.7x | 15.2x-30% | 12.2x-12% | 35.4x-70% |
| Price/FCF | 16.4x | 20.7x-21% | 15.6x | 71.0x-77% |
| Price/Sales | 1.1x | 3.1x-65% | 0.7x+55% | 2.8x-62% |
| Dividend Yield | — | 1.91% | 2.17% | — |
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 6.3% 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
$-2.55
Free Cash Flow (TTM)
Cash generation after capex
$728M
FCF Margin
FCF as share of revenue — the primary cash quality signal
4.3%
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
13.1× FCF
~13.1 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
6.3%
Dividend
—
Buyback
6.3%
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 June 18, 2026
High Risk
UK Tax Hike
The UK government announced a massive increase in iGaming duty from 21% to 40%, creating a projected $320 million EBITDA headwind for Flutter in 2026.
High Risk
Stock Price Decline
Flutter's stock has declined roughly 65% from its 52-week high, reflecting significant investor concerns over its outlook and competitive pressures.
Medium
Prediction Market Competition
Bears argue that competition in the prediction market is a structural threat to Flutter's FanDuel business.
Medium
Profitability Concerns
Q4 2025 results showed strong revenue growth but a net loss and softer profitability metrics, with a 2026 outlook below investor expectations.
Lower
Management Execution Risk
Investors are scrutinizing management's ability to navigate regulatory and competitive challenges, given the stock's underperformance.
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 June 18, 2026
Revenue growth trajectory
Flutter Entertainment's Q1 2026 revenue reached $4.3 billion, showing significant growth from $14.3 billion to $17.0 billion on a trailing 12-month basis.
Strategic LSE exit
Flutter is considering a full exit from the London Stock Exchange, which could reshape its capital access and corporate strategy.
2026 guidance milestones
The company's 2026 guidance provides a roadmap for growth, with execution against these milestones being critical for stock trajectory.
Market leadership position
Flutter is recognized as the world's leading online sports betting and iGaming operator, reinforcing its competitive edge.
US market expansion
The company's focus on the US market is highlighted as a key growth driver, with potential for further capital access.
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
$101.83
52W Range Position
5%
52-Week Range
Current price plotted between the 52-week low and high.
52-Week Low
$91.52
+11.3% from the low
52-Week High
$313.69
-67.5% from the high
1 Month
+4.67%
3 Month
-4.38%
YTD
-53.3%
1 Year
-62.6%
3Y CAGR
-20.9%
5Y CAGR
-11.5%
10Y CAGR
-1.8%
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
17.8x
vs 27.9x median
-36% below peer median
Revenue Growth
+9.7%
vs +5.7% median
+70% above peer median
Net Margin
-2.7%
vs 0.9% median
-388% below peer median
| Company | Mkt Cap | Fwd PE | Rev Grw | Margin | Rating | Upside |
|---|---|---|---|---|---|---|
FLU FLUT Flutter Entertainment plc | $17.7B | 17.8x | +9.7% | -2.7% | Buy | +85.5% |
DKN DKNG DraftKings Inc. | $13.1B | 111.8x | +9.7% | 0.9% | Buy | +35.5% |
MGM MGM MGM Resorts International | $12.0B | 27.5x | +5.7% | 1.0% | Buy | -7.7% |
CZR CZR Caesars Entertainment, Inc. | $6.0B | — | +5.1% | -4.2% | Hold | +5.7% |
BYD BYD Boyd Gaming Corporation | $6.4B | 11.9x | +4.6% | 45.0% | Buy | +12.2% |
PEN PENN PENN Entertainment, Inc. | $2.8B | 28.3x | +8.3% | -12.1% | Buy | -3.4% |
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 returns 6.3% annually — null% through dividends and 6.3% through buybacks.
Dividend UnknownFCF Unknown
Total Shareholder Yield
6.3%
Dividend + buyback return per year
Buyback Yield
6.3%
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
17.6%
5Y Div CAGR
17.6%
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
6.3%
Shares Outstanding
Current diluted share count from the screening snapshot
174M
At 6.3%/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 $189, implying +85.5% from the current price of $102.
02What is the FLUT stock price target for 2026?
The Wall Street consensus price target for FLUT is $189 based on 24 analyst estimates. The high-end target is $300 (+194.6% from today), and the low-end target is $115 (+12.9%).
03Is Flutter Entertainment plc (FLUT) stock overvalued in 2026?
FLUT trades at 17.8x 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 cheap versus peers. 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) UK Tax Hike — The UK government announced a massive increase in iGaming duty from 21% to 40%, creating a projected $320 million EBITDA headwind for Flutter in 2026. (2) Stock Price Decline — Flutter's stock has declined roughly 65% from its 52-week high, reflecting significant investor concerns over its outlook and competitive pressures. (3) Prediction Market Competition — Bears argue that competition in the prediction market is a structural threat to Flutter's FanDuel business. 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 $18.7B (+9.7% year-over-year) and EPS of $-0.74 (+70.9% year-over-year) for the upcoming fiscal year. The following year, analysts project $20.1B in revenue.
06When does Flutter Entertainment plc (FLUT) report its next earnings?
Flutter Entertainment plc is expected to report its next earnings on approximately 2026-08-06. Consensus expects EPS of $0.55 and revenue of $4.3B. Over recent quarters, FLUT has beaten EPS estimates 64% of the time.
07How much free cash flow does Flutter Entertainment plc generate?
Flutter Entertainment plc (FLUT) generated $728M in free cash flow over the trailing twelve months — a free cash flow margin of 4.3%. FLUT returns capital to shareholders through and share repurchases ($1.1B TTM).