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Flutter Entertainment Valuation Multiples
Discover revenue and EBITDA valuation multiples for Flutter Entertainment and similar public comparables like Galaxy Enter Group, Sands China, Aristocrat Leisure, Evolution and more.
Flutter Entertainment Overview
About Flutter Entertainment
In 2016, Irish company Paddy Power merged with UK firm Betfair to form online gaming operator Flutter Entertainment. Today, Flutter has the top digital revenue share in the US, UK and Ireland, Australia, Italy, and many other countries. Some of its leading brands are FanDuel in the US, Sky Betting & Gaming and Paddy Power in the UK and Ireland, Sportsbet (acquired by Paddy Power beginning in 2009) in Australia, and Sisal in Italy. As of Dec. 31, 2024, the company offered products in over 100 countries and had 13.9 million average monthly users. In 2024, sports betting was 56% of revenue, online gaming 40%, and fantasy sports, horse racing, and other 4%. The company is scheduled to launch a predictive sports betting platform in late 2025.
Founded
1958
HQ
Employees
27.3K
Website
Financials (LTM)
EV
$28B
Flutter Entertainment Financials
Flutter Entertainment reported last 12-month revenue of $17B and EBITDA of $3B.
In the same LTM period, Flutter Entertainment generated $8B in gross profit, $3B in EBITDA, and $1B in net income.
Revenue (LTM)
Flutter Entertainment P&L
In the most recent fiscal year, Flutter Entertainment reported revenue of $16B and EBITDA of $3B.
Flutter Entertainment expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $17B | XXX | $16B | XXX | XXX | XXX |
| Gross Profit | $8B | XXX | $7B | XXX | XXX | XXX |
| Gross Margin | 48% | XXX | 45% | XXX | XXX | XXX |
| EBITDA | $3B | XXX | $3B | XXX | XXX | XXX |
| EBITDA Margin | 17% | XXX | 17% | XXX | XXX | XXX |
| EBIT Margin | 3% | XXX | 3% | XXX | XXX | XXX |
| Net Profit | $1B | XXX | $1B | XXX | XXX | XXX |
| Net Margin | 8% | XXX | 9% | XXX | XXX | XXX |
| Net Debt | — | — | $9B | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Flutter Entertainment Stock Performance
Flutter Entertainment has current market cap of $19B, and enterprise value of $28B.
Market Cap Evolution
Flutter Entertainment's stock price is $110.08.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $28B | $19B | 0.0% | XXX | XXX | XXX | $8.07 |
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Start Free TrialFlutter Entertainment Valuation Multiples
Flutter Entertainment trades at 1.7x EV/Revenue multiple, and 9.8x EV/EBITDA.
EV / Revenue (LTM)
Flutter Entertainment Financial Valuation Multiples
As of April 20, 2026, Flutter Entertainment has market cap of $19B and EV of $28B.
Equity research analysts estimate Flutter Entertainment's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Flutter Entertainment has a P/E ratio of 14.6x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $19B | XXX | $19B | XXX | XXX | XXX |
| EV (current) | $28B | XXX | $28B | XXX | XXX | XXX |
| EV/Revenue | 1.7x | XXX | 1.7x | XXX | XXX | XXX |
| EV/EBITDA | 9.8x | XXX | 9.9x | XXX | XXX | XXX |
| EV/EBIT | 63.4x | XXX | 51.1x | XXX | XXX | XXX |
| EV/Gross Profit | 3.5x | XXX | 3.8x | XXX | XXX | XXX |
| P/E | 14.6x | XXX | 13.6x | XXX | XXX | XXX |
| EV/FCF | 47.1x | XXX | 69.4x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Flutter Entertainment Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Flutter Entertainment Margins & Growth Rates
Flutter Entertainment's revenue in the last 12 month grew by 12%.
Flutter Entertainment's revenue per employee in the last FY averaged $0.6M, while opex per employee averaged $0.3M for the same period.
Flutter Entertainment's rule of 40 is 28% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Flutter Entertainment's rule of X is 47% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Flutter Entertainment Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 12% | XXX | 13% | XXX | XXX | XXX |
| EBITDA Margin | 17% | XXX | 17% | XXX | XXX | XXX |
| EBITDA Growth | 11% | XXX | 3% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 28% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 47% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.6M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.3M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 19% | XXX | 22% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 11% | XXX | 13% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 5% | XXX | 6% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 42% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Flutter Entertainment Public Comps
See public comps and valuation multiples for other Online Betting and Casinos & Gambling comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Flutter Entertainment | XXX | XXX | XXX | XXX | XXX | XXX |
| Galaxy Enter Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Sands China | XXX | XXX | XXX | XXX | XXX | XXX |
| Aristocrat Leisure | XXX | XXX | XXX | XXX | XXX | XXX |
| Evolution | XXX | XXX | XXX | XXX | XXX | XXX |
| Allwyn | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Flutter Entertainment M&A Activity
Flutter Entertainment acquired XXX companies to date.
Last acquisition by Flutter Entertainment was on XXXXXXXX, XXXXX. Flutter Entertainment acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Flutter Entertainment
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialFlutter Entertainment Investment Activity
Flutter Entertainment invested in XXX companies to date.
Flutter Entertainment made its latest investment on XXXXXXXX, XXXXX. Flutter Entertainment invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Flutter Entertainment
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Flutter Entertainment
| When was Flutter Entertainment founded? | Flutter Entertainment was founded in 1958. |
| Where is Flutter Entertainment headquartered? | Flutter Entertainment is headquartered in United States. |
| How many employees does Flutter Entertainment have? | As of today, Flutter Entertainment has over 27K employees. |
| Who is the CEO of Flutter Entertainment? | Flutter Entertainment's CEO is Jeremy Peter Jackson. |
| Is Flutter Entertainment publicly listed? | Yes, Flutter Entertainment is a public company listed on NYSE. |
| What is the stock symbol of Flutter Entertainment? | Flutter Entertainment trades under FLUT ticker. |
| When did Flutter Entertainment go public? | Flutter Entertainment went public in 2024. |
| Who are competitors of Flutter Entertainment? | Flutter Entertainment main competitors are Galaxy Enter Group, Sands China, Aristocrat Leisure, Evolution. |
| What is the current market cap of Flutter Entertainment? | Flutter Entertainment's current market cap is $19B. |
| What is the current revenue of Flutter Entertainment? | Flutter Entertainment's last 12 months revenue is $17B. |
| What is the current revenue growth of Flutter Entertainment? | Flutter Entertainment revenue growth (NTM/LTM) is 12%. |
| What is the current EV/Revenue multiple of Flutter Entertainment? | Current revenue multiple of Flutter Entertainment is 1.7x. |
| Is Flutter Entertainment profitable? | Yes, Flutter Entertainment is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Flutter Entertainment? | Flutter Entertainment's last 12 months EBITDA is $3B. |
| What is Flutter Entertainment's EBITDA margin? | Flutter Entertainment's last 12 months EBITDA margin is 17%. |
| What is the current EV/EBITDA multiple of Flutter Entertainment? | Current EBITDA multiple of Flutter Entertainment is 9.8x. |
| What is the current FCF of Flutter Entertainment? | Flutter Entertainment's last 12 months FCF is $599M. |
| What is Flutter Entertainment's FCF margin? | Flutter Entertainment's last 12 months FCF margin is 4%. |
| What is the current EV/FCF multiple of Flutter Entertainment? | Current FCF multiple of Flutter Entertainment is 47.1x. |
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