Flutter Entertainment plc (FLUT) Income Statement
FLUT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFLUT revenue and net income
Where FLUT's revenue goes
2025Each bar shows an amount and its share of revenue. FLUT kept −2.3% of revenue as net income.
FLUT profit margins
FLUT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +16.6% | +81.7% | — | — |
| Gross profit | +10.5% | +67.6% | — | — |
| Operating income | −36.4% | +36.8% | — | — |
| Net income | −448.6% | — | — | — |
| EPS (diluted) | +20.1% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FLUT quarterly EPS vs estimates
Flutter Entertainment beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 11, 2026 (estimate $-0.06).
FLUT income statement
| 2025 | 2024 | 2023 | 2019 | |
|---|---|---|---|---|
| Revenue | $16.38B | $14.05B | $11.79B | $2.73B |
| Cost of revenue | $8.98B | $7.35B | $6.20B | $1.16B |
| Gross profit | $7.40B | $6.70B | $5.59B | $1.57B |
| Research & development | $991.0M | $820.0M | $765.0M | $67.7M |
| Sales, general & admin | $5.86B | $5.01B | $5.37B | — |
| Total operating expenses | $6.85B | $5.83B | $6.14B | $1.36B |
| Operating income | $553.0M | $869.0M | −$549.0M | $215.9M |
| Interest income | $73.0M | $71.0M | $45.0M | — |
| Interest expense | $595.0M | $498.0M | $430.0M | $19.9M |
| Income before taxes | −$121.0M | $16.0M | −$1.09B | $173.1M |
| Income taxes | $286.0M | −$146.0M | $120.0M | $30.4M |
| Net income | −$380.0M | $109.0M | −$1.22B | $183.7M |
| EBITDA | $1.98B | $1.60B | $624.0M | $518.7M |
| EPS (diluted) | $7.30 | $6.08 | −$4.95 | — |
| Gross margin | 45.2% | 47.7% | 47.4% | 57.6% |
| Operating margin | 3.4% | 6.2% | −4.7% | 7.9% |
| Net margin | −2.3% | 0.8% | −10.4% | 6.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.33B | $4.30B | $4.74B | $3.79B | $4.19B | $3.67B | $3.79B | $3.25B | $3.61B | $3.40B | $3.31B | $2.56B |
| Cost of revenue | $2.61B | $2.47B | $2.63B | $2.17B | $2.23B | $1.96B | $1.97B | $1.75B | $1.83B | $1.79B | $1.78B | $1.39B |
| Gross profit | $1.71B | $1.84B | $2.11B | $1.63B | $1.96B | $1.71B | $1.83B | $1.50B | $1.78B | $1.60B | $1.53B | $1.17B |
| Research & development | $300.0M | $259.0M | $245.0M | $275.0M | $256.0M | $215.0M | $201.0M | $213.0M | $216.0M | $190.0M | $207.0M | $214.0M |
| Sales, general & admin | $1.56B | $1.50B | $1.61B | $1.67B | $1.31B | $1.27B | $1.35B | $1.19B | $1.19B | $1.29B | $1.22B | $1.09B |
| Total operating expenses | $1.86B | $1.76B | $1.85B | $1.94B | $1.57B | $1.49B | $1.55B | $1.40B | $1.41B | $1.48B | $2.15B | $1.31B |
| Operating income | −$144.0M | $79.0M | $258.0M | −$317.0M | $389.0M | $223.0M | $279.0M | $97.0M | $369.0M | $124.0M | −$619.0M | −$137.0M |
| Interest income | $12.0M | $11.0M | $15.0M | $18.0M | $20.0M | $20.0M | $18.0M | $21.0M | $16.0M | $16.0M | $15.0M | — |
| Interest expense | $162.0M | $167.0M | $187.0M | $172.0M | $131.0M | $105.0M | $120.0M | $105.0M | $108.0M | $128.0M | $108.7M | $92.0M |
| Income before taxes | −$299.0M | $234.0M | $154.0M | −$834.0M | $205.0M | $354.0M | −$42.0M | −$130.0M | $350.0M | −$162.0M | −$816.0M | −$273.0M |
| Income taxes | −$3.0M | $25.0M | $144.0M | −$45.0M | $168.0M | $19.0M | −$198.0M | −$16.0M | $53.0M | $15.0M | $86.0M | −$11.0M |
| Net income | −$274.0M | $216.0M | $23.0M | −$760.0M | $25.0M | $332.0M | $130.0M | −$119.0M | $261.0M | −$196.0M | −$912.0M | −$275.0M |
| EBITDA | $248.0M | $817.0M | $772.0M | −$245.0M | $704.0M | $753.0M | $340.0M | $233.0M | $730.0M | $263.0M | $474.0M | $135.0M |
| EPS (diluted) | $0.16 | $1.22 | $1.44 | $1.64 | $2.63 | $1.59 | $2.94 | $0.43 | $2.61 | $0.10 | −$4.95 | $0.00 |
| Gross margin | 39.6% | 42.7% | 44.5% | 42.9% | 46.8% | 46.6% | 48.2% | 46.1% | 49.2% | 47.2% | 46.2% | 45.8% |
| Operating margin | −3.3% | 1.8% | 5.4% | −8.4% | 9.3% | 6.1% | 7.4% | 3.0% | 10.2% | 3.7% | −18.7% | −5.4% |
| Net margin | −6.3% | 5.0% | 0.5% | −20.0% | 0.6% | 9.1% | 3.4% | −3.7% | 7.2% | −5.8% | −27.5% | −10.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FLUT's financial statements (latest annual report filed February 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FLUT financial results
In fiscal year 2025 (ended December 31, 2025), Flutter Entertainment reported revenue of $16.4 billion, up 16.6% from the year before. It had a net loss of $380.0 million, a net profit margin of −2.3%. Diluted earnings per share came to $7.30.
See the FLUT stock overview for the latest quote and news, or the FLUT chart for price history and technical indicators.
FLUT income statement FAQ
What is Flutter Entertainment's annual revenue?
Flutter Entertainment reported total revenue of $16.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 16.6% from $14.0 billion the previous year.
Is Flutter Entertainment profitable?
No. Flutter Entertainment reported a net loss of $380.0 million in fiscal 2025, a net profit margin of −2.3%; its operating margin was 3.4%.
What is Flutter Entertainment's gross margin?
Flutter Entertainment's gross margin was 45.2% in fiscal 2025: for every $100 of revenue, Flutter Entertainment kept $45 after the direct cost of its products and services.
How much does Flutter Entertainment spend on research and development?
Flutter Entertainment spent $991.0 million on research and development in fiscal 2025, 6.0% of revenue.
What are Flutter Entertainment's earnings per share?
Flutter Entertainment earned $7.30 per diluted share in fiscal 2025, compared with $6.08 a year earlier.
When will Flutter Entertainment report its next earnings?
Flutter Entertainment is expected to report results for the quarter ending September 30, 2026 on November 11, 2026.
When does Flutter Entertainment's fiscal year end?
Flutter Entertainment's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 26, 2026.