Q4 25 EPS
$1.74
BEAT +8.09%
Est. $1.61
Q4 25 Revenue
$4.74B
MISS 2.63%
Est. $4.87B
Full Year 2025 Results
FY 25 EPS
$7.94
BEAT +3.43%
Est. $7.68
FY 25 Revenue
$16.38B
MISS 1.49%
Est. $16.63B
Did FLUT Beat Earnings? Q4 2025 Results
Flutter Entertainment fell short of Wall Street expectations in Q4 2025, posting earnings per share of $1.74 against a consensus estimate of $1.91, an 8.90% miss, while revenue of $4.74 billion trailed the $4.99 billion consensus by 4.98% despite gro… Read more Flutter Entertainment fell short of Wall Street expectations in Q4 2025, posting earnings per share of $1.74 against a consensus estimate of $1.91, an 8.90% miss, while revenue of $4.74 billion trailed the $4.99 billion consensus by 4.98% despite growing 24.9% year over year. The headline shortfall masked a more nuanced story: adjusted EBITDA climbed 27% to $832 million, but GAAP net income collapsed to just $10 million from $156 million a year earlier, pressured by a $342 million swing in income tax expense and $165 million in incremental depreciation tied to the Snai, BetNacional, and Boyd FanDuel stake acquisitions. In the US, FanDuel saw handle growth moderate to just 3% as persistently high gross revenue margins reduced player recycling and competitor improvements eroded engagement, a trend management acknowledged is carrying into early 2026. Looking ahead, Flutter guided for 2026 group revenue of $18.40 billion and adjusted EBITDA of $2.97 billion at midpoint, while simultaneously launching a $250 million share repurchase tranche, signaling confidence in the longer-term trajectory even as near-term headwinds, including a $235 million post-mitigation UK tax impact, weigh on profitability.
Key Takeaways
- • M&A contributions from Snai and BetNacional acquisitions driving revenue growth
- • Positive year-over-year sports results swing of 310bps in US sportsbook
- • Continued structural sportsbook margin expansion to 15.5% in Q4
- • Strong iGaming growth of 33% in US and 31% in International
- • FanDuel iGaming AMP growth of 18% driven by exclusive content and jackpot features
- • Organic iGaming growth of 9% in International driven by SEA and CEE
- • SEA Türkiye revenue growth of 63% in Q4
- • Georgia achieved record 33%+ market share in CEE
FLUT YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
FLUT Revenue by Segment
With YoY comparisons, source: SEC Filings
FLUT Revenue by Geography
With YoY comparisons, source: SEC Filings
“Flutter delivered strong 2025 results. Our unparalleled global scale and ongoing product innovation helped us reach almost 40 million customers across our portfolio of market-leading, local hero brands during the year. We made clear progress against our strategic priorities; maintaining our US leadership position in both sportsbook and iGaming; entering an exciting and incremental new category in the US with the launch of FanDuel Predicts; completing our strategic acquisitions of Snai and NSX; and delivering several important milestones across our International segment's transformation programs.”
— Peter Jackson, Q4 2025 Earnings Press Release
FLUT Earnings Trends
FLUT vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
FLUT EPS Trend
Earnings per share: estimate vs actual
FLUT Revenue Trend
Quarterly revenue: estimate vs actual
FLUT Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.09 | $1.22 | +12.34% | $4.30B | +1.46% |
| Q4 25 BEAT FY | $1.61 | $1.74 | +8.09% | $4.74B | -2.63% |
| FY Full Year | $7.68 | $7.94 | +3.43% | $16.38B | -1.49% |
| Q3 25 BEAT | $0.59 | $1.64 | +178.91% | $3.79B | +31.77% |
| Q2 25 BEAT | $2.11 | $2.95 | +39.55% | $4.19B | +36.13% |
| Q1 25 MISS | $1.89 | $1.59 | -15.72% | $3.67B | +27.49% |