Flutter Entertainment plc

Listed Company

FLUTCIK 0001635327NYSELarge AcceleratedServices-Computer Programming, Data Processing, Etc.L2FY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-407.00M

Total Assets

$29.28B

Equity

$9.04B

Shares Out

175.30M

Op. Cash Flow

$1.18B

Business

Flutter Entertainment plc operates as a global online sports betting and iGaming operator providing digital wagering and gaming services. It offers sportsbook, iGaming (including casino, bingo, poker, rummy and lottery products) and other products such as exchange betting, pari‑mutuel wagering and daily fantasy sports. The business is organized into major operating divisions—U.S., UK and Ireland (UKI), International and Australia—with brands including FanDuel, PokerStars, Paddy Power, Betfair, Sportsbet, Sisal, tombola and regional partners. Products are delivered mainly online across over 100 countries and supplemented by retail betting shops and market access partnerships.

Summary from filing dated 2025-03-04

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Revenue	16,383	14,048	11,790	9,463
Cost of Sales	−8,979	−7,346	−6,202	−4,813
Gross profit	7,404	6,702	5,588	4,650
Technology, research and development expenses	−991	−820	−765	−552
Sales and marketing expenses	−3,678	−3,205	−3,776	−3,014
General and administrative expenses	−2,182	−1,808	−1,596	−1,172
Goodwill impairment	−517	0	0	—
Operating profit (loss)	36	869	−549	−88
Other income (expense), net	358	−434	−157	5
Interest expense, net	−515	−419	−385	−212
(Loss) income before income taxes	−121	16	−1,091	−295
Income tax (expense) benefit	−286	146	−120	−75
Net (loss) income	−407	162	−1,211	−370
Net (loss) gain attributable to non-controlling interests and redeemable non-controlling interests	−27	53	13	−1
Adjustment of redeemable non-controlling interest to redemption value	−70	66	−2	63
Net (loss) income attributable to Flutter shareholders - basic	−310	43	−1,222	−432
Net (loss) income attributable to Flutter shareholders - diluted	−310	43	−1,222	—
Basic (in USD per share)	−1.75	0.24	−6.89	−2.44
Diluted (in USD per share)	−1.75	0.24	−6.89	−2.44
Effective portion of changes in fair value of cash flow hedges	−100	−12	−121	—
Fair value of cash flow hedges transferred to the income statement	87	32	93	—
Changes in excluded components of fair value hedge	−12	−1	0	—
Foreign exchange (loss) gain on net investment hedges	−97	73	30	—
Foreign exchange gain (loss) on translation of the net assets of foreign currency denominated entities	997	−554	357	—
Fair value movements on available for sale debt instruments	0	0	5	—
Income tax benefit related to items of other comprehensive loss	9	0	0	—
Other comprehensive income (loss) income	884	−462	364	−1,037
Other comprehensive income (loss) attributable to Flutter shareholders	816	−444	299	−926
Other comprehensive income (loss) attributable to non-controlling interest and redeemable non-controlling interest	68	−18	65	−111
Total comprehensive income (loss) for the year	477	−300	−847	−1,407

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,828	1,531	1,497	966	—
Cash and cash equivalents restricted	72	48	22	16	—
Player deposits cash and cash equivalents	1,932	1,930	—	—	—
Player deposits investments	23	130	172	—	—
Accounts receivable, net	190	98	90	—	—
Prepaid expenses and other current assets	751	607	443	—	—
TOTAL CURRENT ASSETS	4,796	4,344	3,976	—	—
Investments	7	6	9	—	—
Property and equipment, net	630	493	471	—	—
Operating lease right-of-use assets	550	507	429	—	—
Intangible assets, net	7,019	5,364	5,881	—	—
Goodwill	15,825	13,352	13,745	13,244	—
Deferred tax assets	309	267	24	—	—
Other non-current assets	144	175	100	—	—
TOTAL ASSETS	29,280	24,508	24,635	—	—
Accounts payable	386	266	240	—	—
Player deposit liability	1,859	1,940	1,786	—	—
Operating lease liabilities	130	119	123	—	—
Long-term debt due within one year	109	53	51	—	—
Other current liabilities	2,559	2,212	2,326	—	—
TOTAL CURRENT LIABILITIES	5,043	4,590	4,526	—	—
Operating lease liabilities non-current	476	428	354	—	—
Long-term debt	12,157	6,683	7,005	—	—
Deferred tax liabilities	1,105	605	802	—	—
Other non-current liabilities	801	935	580	—	—
TOTAL LIABILITIES	19,582	13,241	13,267	—	—
COMMITMENTS AND CONTINGENCIES (Note 21)	—	—	—	—	—
REDEEMABLE NON-CONTROLLING INTERESTS	424	1,808	1,152	—	—
Ordinary share (Authorized 300,000,000 shares of 0.09 (2025:$0.11; 2024:$0.10 ) par value each; issued 2025: 175,224,066 shares; 2024: 177,895,367 shares)	36	36	36	—	—
Additional paid-in capital	1,989	1,611	1,385	—	—
Accumulated other comprehensive loss	−1,111	−1,927	−1,483	—	—
Retained earnings	8,124	9,573	10,106	—	—
Total Flutter Shareholders Equity	9,038	9,293	10,044	—	—
Non-controlling interests	236	166	172	—	—
TOTAL SHAREHOLDERS EQUITY	9,274	9,459	10,216	11,191	12,162
TOTAL LIABILITIES, REDEEMABLE NON-CONTROLLING INTERESTS AND SHAREHOLDERS EQUITY	29,280	24,508	24,635	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Depreciation and amortization	1,517	1,097	1,285	1,075
Impairment loss	561	0	725	0
Change in fair value of derivatives	−11	2	−7	−152
Non-cash interest expense (income), net	53	19	−12	7
Non-cash operating lease expense	141	142	117	96
Unrealized foreign currency exchange gain, net	−88	−15	−225	196
Loss on disposals	11	7	5	—
Share-based compensation equity classified	246	196	180	132
Share-based compensation liability classified	14	6	10	49
Other (income) expense, net	−300	428	163	−89
Deferred tax benefit	−145	−348	−132	−145
Loss on extinguishment	23	7	6	65
Change in contingent consideration	0	−3	−2	−6
Player deposits - investments	120	33	−1	—
Accounts receivable	0	−11	23	−12
Prepaid expenses and other current assets	−60	−73	146	−97
Accounts payable	−20	−7	−4	−24
Other liabilities	−106	−104	366	207
Player deposit liability	−227	212	−382	376
Operating leases liabilities	−138	−148	−113	−73
Net cash provided by operating activities	1,184	1,602	937	1,163
Purchases of property and equipment	−105	−144	−159	−122
Purchases of intangible assets	−162	−136	−175	−100
Capitalized software	−510	−381	−268	−207
Acquisitions, net of cash acquired	−2,688	−160	0	−2,095
Proceeds from disposal of long lived assets	5	0	0	7
Cash settlement of derivatives designated in net investment hedge	−21	10	0	—
Net cash used in investing activities	−3,481	−811	−602	−2,517
Proceeds from issue of ordinary share upon exercise of options	7	30	13	9
Proceeds from issuance of long-term debt (net of transactions costs with lenders)	10,830	1,684	2,018	4,692
Transaction costs with third parties from issuance of long-term debt	−22	0	0	—
Repayment of long-term debt	−5,606	−1,948	−1,837	−2,646
Acquisition of redeemable non-controlling interests	−1,620	0	−95	—
Distributions to non-controlling interests	−29	−16	0	−7
Payment of contingent consideration	−19	0	0	−11
Repurchase of ordinary shares and taxes withheld and paid on employee share awards	−1,123	−219	−212	−3
Proceeds from sale of non-controlling interests	10	0	0	—
Net cash provided by (used in) financing activities	2,428	−469	−113	1,783
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	131	322	222	429
Effect of foreign exchange on cash, cash equivalents and restricted cash	192	−84	59	−120
Interest paid	531	462	408	222
Income tax paid (net of refunds)	445	255	255	199
Operating cash flows from operating leases	167	174	133	92
Purchase of long lived assets with accrued expense- investing	75	15	0	—
Purchase of long lived assets with accrued expense- financing	72	0	0	—
Right of use assets obtained in exchange for new operating lease liabilities	94	155	73	148
Adjustments to lease balances as a result of remeasurement	50	47	22	18
Business acquisitions (including contingent consideration)	327	2	0	—
Proceeds from issuance as part of debt restructuring	0	0	5,267	0
Principal amount of extinguishment as part of debt restructuring	0	0	4,622	0
Non-cash issuance of common stock upon exercise of options	29	0	0	—
Non-cash transaction costs on issuance of long-term debt	6	0	0	—
Asset retirement obligation	33	0	0	—
Sale of non-controlling interests	17	0	0	—

Filings

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