Flutter Entertainment plc (FLUT) Balance Sheet
FLUT balance sheet, 2025
December 31, 2025 · U.S. dollars$29.28B assets = $19.58B liabilities + $9.70B equity
Both columns are drawn to the same scale: what FLUT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
FLUT financial health
Descriptive bands, not a rating. Fiscal 2025.
FLUT balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.16B2019 | $29.28B2025 | +26.5%/yr | |
| Total liabilities | $1.61B2019 | $19.58B2025 | +51.7%/yr | |
| Shareholders’ equity | $5.28B2019 | $9.04B2025 | +9.4%/yr | |
| Cash & short-term investments | $393.7M2019 | $3.85B2025 | +46.3%/yr | |
| Total debt | $716.3M2019 | $13.35B2025 | +62.8%/yr | |
| Net cash (debt) | −$322.6M2019 | −$9.49B2025 | −$9.2B | |
| Working capital | −$693.8M2019 | −$247.0M2025 | +$446.8M | |
| Book value per share | $65.722019 | $50.492025 | −4.3%/yr | |
| Current ratio | 0.412019 | 0.952025 | +0.54 | |
| Debt / equity | 0.142019 | 1.482025 | +1.34 | |
| Shares outstanding | 80.3M2019 | 179.0M2025 | +14.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
FLUT assets
FLUT liabilities and equity
FLUT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
FLUT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $3.85B | $3.59B | $3.44B | $2.68B | $2.32B | $1.74B | $393.7M |
| Cash & equivalents | $3.83B | $3.46B | $3.27B | $2.52B | $2.21B | $1.63B | $393.7M |
| Short-term investments | $23.0M | $130.0M | $172.0M | $166.0M | $112.4M | $113.2M | — |
| Receivables | $613.0M | $491.0M | $328.0M | $266.8M | $168.8M | $123.2M | $24.9M |
| Inventory | $0 | $0 | $1 | −$280.4M | $1 | $0 | $1 |
| Other current assets | $328.0M | $262.0M | $205.0M | $819.7M | $169.2M | $132.5M | $60.7M |
| Total current assets | $4.80B | $4.34B | $3.98B | $3.49B | $2.66B | $2.00B | $479.3M |
| Property, plant & equipment (net) | $1.18B | $1.00B | $900.0M | $844.7M | $611.4M | $494.7M | $395.0M |
| Goodwill & intangible assets | $22.84B | $18.72B | $19.63B | $20.14B | $19.26B | $20.57B | $6.20B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $460.0M | $448.0M | $133.0M | $169.5M | $189.5M | $170.5M | $82.7M |
| Total assets | $29.28B | $24.51B | $24.64B | $24.64B | $22.72B | $23.23B | $7.16B |
| Liabilities | |||||||
| Accounts payable | $386.0M | $266.0M | $240.0M | $245.9M | $100.5M | $108.9M | $33.5M |
| Short-term debt | $239.0M | $291.0M | $174.0M | $144.2M | $93.1M | $101.8M | $388.0M |
| Deferred revenue | — | — | −$424.0M | $1.68B | $976.6M | $879.5M | $237.4M |
| Total current liabilities | $5.04B | $4.59B | $4.53B | $3.99B | $2.81B | $2.71B | $1.17B |
| Long-term debt | $12.16B | $6.68B | $7.00B | $6.71B | $4.79B | $4.21B | $0 |
| Lease obligations | $606.0M | $547.0M | $477.0M | $494.0M | $356.8M | $264.4M | — |
| Other long-term liabilities | $2.38B | $1.97B | $1.74B | $1.51B | $1.19B | $1.28B | $432.0M |
| Total liabilities | $19.58B | $13.24B | $13.27B | $12.20B | $8.79B | $8.20B | $1.61B |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $36.0M | $36.0M | $36.0M | $582.9M | $646.9M | $3.39B | $567.4M |
| Retained earnings (deficit) | $8.12B | $9.57B | $10.11B | $11.28B | $13.30B | $11.47B | $4.69B |
| Accumulated other comprehensive income | −$1.11B | −$1.93B | −$1.48B | $422.1M | −$52.8M | $194.1M | $84.4M |
| Minority interest | $660.0M | $1.97B | $1.32B | $1.08B | — | — | — |
| Total shareholders' equity | $9.04B | $9.29B | $10.04B | $12.28B | $13.88B | $14.99B | $5.28B |
| Key figures | |||||||
| Total debt | $13.35B | $7.40B | $7.53B | $7.20B | $5.20B | $4.52B | $716.3M |
| Net cash (debt) | −$9.49B | −$3.81B | −$4.09B | −$4.52B | −$2.88B | −$2.78B | −$322.6M |
| Working capital | −$247.0M | −$246.0M | −$550.0M | −$500.8M | −$152.1M | −$711.6M | −$693.8M |
| Tangible book value | −$13.81B | −$9.42B | −$9.58B | −$7.86B | −$5.38B | −$5.58B | −$919.5M |
| Book value per share | $50.49 | $51.63 | $56.75 | $69.38 | $78.89 | $112.83 | $65.72 |
| Shares outstanding | 179.0M | 180.0M | 177.0M | 177.0M | 176.0M | 132.8M | 80.3M |
| Current ratio | 0.95 | 0.95 | 0.88 | 0.87 | 0.95 | 0.74 | 0.41 |
| Quick ratio | 0.89 | 0.89 | 0.83 | 0.74 | 0.89 | 0.69 | 0.36 |
| Debt / equity | 1.48 | 0.80 | 0.75 | 0.59 | 0.37 | 0.30 | 0.14 |
| Equity / assets | 30.9% | 37.9% | 40.8% | 49.8% | 61.1% | 64.5% | 73.8% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $1.56B | $3.53B | $3.85B | $3.69B | $3.47B | $3.47B | $3.59B | $3.51B | $3.41B | $3.33B | $3.42B | $2.80B |
| Cash & equivalents | $1.56B | $3.50B | $3.83B | $3.67B | $3.44B | $3.34B | $3.46B | $3.35B | $3.23B | $3.16B | $3.25B | $2.66B |
| Short-term investments | $5.0M | $23.0M | $23.0M | $26.0M | $30.0M | $127.0M | $130.0M | $156.0M | $174.0M | $173.0M | $172.0M | $141.0M |
| Receivables | $891.0M | $601.0M | $613.0M | $656.0M | $590.0M | $525.0M | $491.0M | $87.0M | $225.0M | $265.0M | $392.0M | $90.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $15.0M | $14.0M | $15.0M | −$1.90B | $0 |
| Other current assets | $2.06B | $371.0M | $328.0M | $434.0M | $338.0M | $250.0M | $262.0M | $558.0M | $277.0M | $250.0M | $2.06B | $364.9M |
| Total current assets | $4.52B | $4.50B | $4.80B | $4.78B | $4.39B | $4.24B | $4.34B | $4.17B | $3.92B | $3.86B | $3.98B | $3.26B |
| Property, plant & equipment (net) | $1.09B | $1.14B | $1.18B | $1.14B | $1.16B | $1.01B | $1.00B | $1.03B | $936.0M | $927.0M | $900.0M | $737.7M |
| Goodwill & intangible assets | $22.10B | $22.36B | $22.84B | $23.05B | $24.03B | $19.19B | $18.72B | $20.17B | $19.34B | $19.46B | $19.63B | $15.72B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $497.0M | $476.0M | $460.0M | $368.0M | $284.0M | $379.0M | $448.0M | $118.0M | $118.0M | $138.0M | $133.0M | $479.5M |
| Total assets | $28.21B | $28.47B | $29.28B | $29.34B | $29.87B | $24.82B | $24.51B | $25.48B | $24.32B | $24.39B | $24.64B | $20.19B |
| Liabilities | ||||||||||||
| Accounts payable | $341.0M | $427.0M | $386.0M | $402.0M | $350.0M | $359.0M | $266.0M | $270.0M | $234.0M | $265.0M | $240.0M | $196.7M |
| Short-term debt | $259.0M | $324.0M | $239.0M | $273.0M | $192.0M | $189.0M | $291.0M | $197.0M | $177.0M | $174.0M | $174.0M | $41.8M |
| Deferred revenue | $1.89B | — | — | — | — | — | — | — | −$1.99B | $26.0M | $4.04B | — |
| Total current liabilities | $5.07B | $4.98B | $5.04B | $4.96B | $4.63B | $4.47B | $4.59B | $4.71B | $4.38B | $4.59B | $4.53B | $3.71B |
| Long-term debt | $11.87B | $11.79B | $12.16B | $11.95B | $9.88B | $6.76B | $6.68B | $6.84B | $6.74B | $6.79B | $7.00B | $0 |
| Lease obligations | $581.0M | $595.0M | $606.0M | $585.0M | $608.0M | $567.0M | $547.0M | $567.0M | $498.0M | $490.0M | $477.0M | — |
| Other long-term liabilities | $1.91B | $1.99B | $2.38B | $2.50B | $2.72B | $1.83B | $1.97B | $1.92B | $1.72B | $1.88B | $1.74B | $0 |
| Total liabilities | $18.86B | $18.77B | $19.58B | $19.42B | $17.23B | $13.05B | $13.24B | $13.47B | $12.84B | $13.25B | $13.27B | −$12.90B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $36.0M | $36.0M | $36.0M | $36.0M | $36.0M | $36.0M | $36.0M | $36.0M | $36.0M | $36.0M | $36.0M | $29.5M |
| Retained earnings (deficit) | $7.83B | $8.23B | $8.12B | $8.34B | $9.25B | $9.75B | $9.57B | $9.73B | $10.02B | $9.69B | $10.11B | $8.28B |
| Accumulated other comprehensive income | −$1.25B | −$1.25B | −$1.11B | −$1.06B | −$880.0M | −$1.59B | −$1.93B | −$1.07B | −$1.67B | −$1.67B | −$1.48B | $12.76B |
| Minority interest | $605.0M | $645.0M | $660.0M | $675.0M | $2.43B | — | — | — | — | — | — | — |
| Total shareholders' equity | $8.75B | $9.06B | $9.04B | $9.24B | $10.21B | $9.86B | $9.29B | $10.24B | $9.88B | $9.50B | $10.04B | $12.90B |
| Key figures | ||||||||||||
| Total debt | $12.56B | $12.56B | $13.35B | $12.68B | $10.56B | $7.39B | $7.40B | $7.48B | $7.29B | $7.33B | $7.53B | $6.07B |
| Net cash (debt) | −$11.00B | −$9.03B | −$9.49B | −$8.99B | −$7.09B | −$3.92B | −$3.81B | −$3.97B | −$3.88B | −$4.00B | −$4.11B | −$3.27B |
| Working capital | −$553.0M | −$480.0M | −$247.0M | −$180.0M | −$232.0M | −$228.0M | −$246.0M | −$540.0M | −$453.0M | −$726.0M | −$550.0M | −$450.8M |
| Tangible book value | −$13.35B | −$13.30B | −$13.81B | −$13.80B | −$13.82B | −$9.33B | −$9.42B | −$9.92B | −$9.46B | −$9.96B | −$9.58B | −$2.81B |
| Book value per share | $50.00 | $50.64 | $50.49 | $51.64 | $57.07 | $54.79 | $52.21 | $57.56 | $54.91 | $53.37 | $56.91 | $72.49 |
| Shares outstanding | 175.0M | 179.0M | 179.0M | 179.0M | 179.0M | 180.0M | 178.0M | 178.0M | 180.0M | 178.0M | 176.5M | 178.0M |
| Current ratio | 0.89 | 0.90 | 0.95 | 0.96 | 0.95 | 0.95 | 0.95 | 0.89 | 0.90 | 0.84 | 0.88 | 0.88 |
| Quick ratio | 0.48 | 0.83 | 0.89 | 0.88 | 0.88 | 0.89 | 0.89 | 0.76 | 0.83 | 0.78 | 0.84 | 0.78 |
| Debt / equity | 1.44 | 1.39 | 1.48 | 1.37 | 1.03 | 0.75 | 0.80 | 0.73 | 0.74 | 0.77 | 0.75 | 0.47 |
| Equity / assets | 31.0% | 31.8% | 30.9% | 31.5% | 34.2% | 39.7% | 37.9% | 40.2% | 40.6% | 39.0% | 40.8% | 63.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
FLUT financial position
At the end of fiscal 2025 (December 31, 2025), Flutter Entertainment had total assets of $29.3 billion (up 19.5% from a year earlier), total liabilities of $19.6 billion and shareholders' equity of $9.0 billion. It held $3.9 billion in cash and short-term investments against $13.3 billion of debt, net debt of $9.5 billion. Its current ratio was 0.95. In the latest quarter (ended June 30, 2026) total assets were $28.2 billion and equity $8.8 billion.
Related: FLUT income statement, FLUT cash flow statement, FLUT key metrics. See the FLUT stock overview for the latest quote and news.
FLUT balance sheet FAQ
What are Flutter Entertainment's total assets?
Flutter Entertainment reported total assets of $29.3 billion at the end of fiscal 2025 (December 31, 2025), compared with $24.5 billion a year earlier.
How much debt does Flutter Entertainment have?
Flutter Entertainment had $13.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.48.
How much cash does Flutter Entertainment have?
Flutter Entertainment held $3.9 billion in cash and short-term investments at the end of fiscal 2025; with $13.3 billion of debt that is net debt of $9.5 billion.
What is Flutter Entertainment's book value?
Flutter Entertainment's shareholders' equity (book value) was $9.0 billion at the end of fiscal 2025, or $50.49 per share.
What is Flutter Entertainment's current ratio?
Flutter Entertainment had current assets of $4.8 billion and current liabilities of $5.0 billion, a current ratio of 0.95 (current liabilities exceed current assets).
How much goodwill does Flutter Entertainment have?
Flutter Entertainment carried $22.8 billion of goodwill and intangible assets, 78.0% of total assets, at the end of fiscal 2025.