| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 63 | — | 17.8x | Around median | |
Growth | 60 | 15.2% | 7.1% | Around median | |
Quality | 33 | -3.6% | 4.5% | Bottom tier | |
Safety | 46 | 10.8x | 2.6x | Around median | |
Capital Return | 13 | 0.15% | 2.12% | Bottom tier | |
Momentum | 6 | -69.1% | 2.9% | Bottom tier | |
Sentiment | 91 | 10 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Flutter Entertainment plc operates a global portfolio of online sports betting and gaming platforms, led by FanDuel in the United States, alongside its businesses in Italy, the United Kingdom and Ireland, Turkey, Brazil, Asia Pacific, and Central and Eastern Europe. Revenue generation relies on sports betting and iGaming activity, and the company is expanding its addressable market through FanDuel Predicts and market making, while leveraging pricing, risk management, and shared content capabilities within Flutter Edge.
In quarter 2 of fiscal year 2026, group revenue grew 3%, supported by acquisitions and strong engagement during FIFA World Cup, but adjusted EBITDA fell 45% due to higher gaming taxes in the United Kingdom and planned investment in prediction markets and tournament marketing. The company recorded a net loss of $296 million, compared with net income of $37 million in quarter 2 of fiscal year 2025, and adjusted loss per share was $0.49, while free cash flow declined 56% year over year.
The segment mix showed clear divergence in quarter 2 of fiscal year 2026; United States revenue declined 6%, affected by approximately 6 percentage points from customer-friendly sports results, while international revenue grew 10%, including the impact of the Snai and Betnacional acquisitions. In the latest EDGAR filing submitted for quarter 2 of fiscal year 2024, revenue was $3.6 billion and gross profit was $1.8 billion, equivalent to a gross margin of approximately 50%, with net income of $297 million and earnings per share of $1.45.
The average analyst target is $140.62, within a wide range from $110 to $210, while the overall consensus remains “Buy.” The average target is approximately 53% below the 52-week high of $300.92, while the highest target is approximately 49% above the average, reflecting substantial variation in estimates of FanDuel's value and the path of earnings recovery. This positive consensus is balanced by Citigroup's downgrade to “Neutral” after the reduction in fiscal year 2026 guidance, while no usable price-to-earnings multiple is available in the data due to the quarterly loss.
Figures in the text are as of 2026-08-29; the live price is shown at the top of the page.
The company lowered the midpoint of its revenue guidance by $395 million to $17.91 billion and lowered the midpoint of its adjusted EBITDA guidance by $210 million to $2.655 billion. The reasons included additional investment in FanDuel generosity, a one-week delay to the start of the NFL season, and foreign exchange effects in the international business. The company estimated the impact of the NFL delay at approximately $75 million in revenue and $50 million in adjusted EBITDA, despite adding approximately $50 million in market-making revenue and $45 million in United States operating savings.
United States revenue declined 6% in quarter 2 of fiscal year 2026, with approximately 6 percentage points of the impact associated with customer-friendly sports results. In contrast, betting volume per game increased approximately 40% during the NBA Finals, active customers increased 25%, and 2.3 million customers engaged with FIFA World Cup. One-third of those customers were also reactivated, and Rewards Club reached 70% of the customer base during the quarter.
Automated analysis for informational purposes only — not investment advice.
Flutter expects to generate approximately $50 million in market-making revenue in fiscal year 2026, after recording $6 million in quarter 2. The company moved FanDuel Predicts sports and entertainment contracts to Crypto.com, while keeping CME financial markets available to customers. The company is betting on One App, expansion of the contract catalog, and leveraging its pricing and risk management capabilities, but described the business as still being in its early days.
Flutter allocated an additional $270 million of EBITDA investment to generosity offered to customers in the second half of fiscal year 2026. Management expects incentives to approach 6% of betting volume, with the aim of increasing active customers and average revenue per user ahead of fiscal year 2027. This pressures near-term profitability, as the company expects United States EBITDA to be approximately breakeven in quarter 3 and approximately $500 million in quarter 4 of fiscal year 2026.
International revenue grew 10% in quarter 2 of fiscal year 2026, including the impact of the Snai and Betnacional acquisitions. iGaming revenue in Southern Europe increased 34%, driven by exclusive content in Italy and product expansion in Turkey, while the number of active Snai customers increased 30% in June 2026 following the technical migration in April. In the United Kingdom and Ireland, iGaming growth remained at 7%, but the British gaming tax increase took effect in April 2026.
Flutter ended quarter 2 of fiscal year 2026 with leverage of 4.3 times, compared with a medium-term target range of between 2 times and 2.5 times. The first phase targets more than $300 million in savings by fiscal year 2027, in addition to $200 million associated with the plan to mitigate the impact of the British tax. The second phase targets an additional $500 million in gross savings by fiscal year 2029, but expected transaction, restructuring, and integration costs in fiscal year 2026 total approximately $500 million.
