Flutter Entertainment (FLUT) Cost of Revenue (2023 - 2026)
Flutter Entertainment's Cost of Revenue came in at $2.61 billion for Q2 2026, up 17.3% from $2.23 billion a year earlier and up 5.9% from the prior quarter.
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Analysis
Flutter Entertainment (FLUT) Cost of Revenue (2023 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Flutter Entertainment reported Cost of Revenue of $9.88 billion, up 25.0% year-over-year; for FY2025, it was $8.98 billion, up 22.2% from FY2024.
- Cost of Revenue has increased in each of the last three years, with a three-year compound annual growth rate of 23.1% (FY2022 to FY2025).
- Going back by year, Cost of Revenue was $7.35 billion in FY2024 (+18.4%), $6.2 billion in FY2023 (+28.9%) and $4.81 billion in FY2022.
- The five-year range for quarterly Cost of Revenue is $1.39 billion (Q3 2023) to $2.63 billion (Q4 2025).
- Year-over-year, Cost of Revenue has increased for ten consecutive quarters, with growth averaging 21.0% over the last eight quarters.
- Over the past five years, the year-over-year growth in Cost of Revenue ranged from 9.1% (Q1 2025) to 33.6% (Q4 2025).
- Business Quant data shows FLUT's Cost of Revenue at $2.47 billion (Q1 2026), $2.63 billion (Q4 2025) and $2.17 billion (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 23.47 Bn | 9.89 Bn | 1.48 Bn | 1.67 Bn |
| 2 | DraftKings | 16.53 Bn | 12.19 Bn | 551.45 Mn | 891.78 Mn |
| 3 | Flutter Entertainment | 12.99 Bn | 6.73 Bn | 1.71 Bn | 2.61 Bn |
| 4 | Madison Square Garden Sports | 9.80 Bn | 9.40 Bn | 119.21 Mn | 159.53 Mn |
| 5 | Life Time Group Holdings | 9.15 Bn | 8.39 Bn | 412.26 Mn | 453.73 Mn |
| 6 | Wynn Resorts | 7.85 Bn | 1.40 Bn | 758.95 Mn | 1.10 Bn |
| 7 | MGM Resorts International | 7.67 Bn | -517.04 Mn | 1.98 Bn | 2.47 Bn |
| 8 | Light & Wonder | 7.12 Bn | 6.43 Bn | 618.00 Mn | 210.00 Mn |
| 9 | Caesars Entertainment | 6.04 Bn | 2.66 Bn | 1.50 Bn | 1.49 Bn |
| 10 | Super Group (SGHC) | 5.70 Bn | 3.69 Bn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 2.61 Bn |
| Mar 31, 2026 | 2.47 Bn |
| Dec 31, 2025 | 2.63 Bn |
| Sep 30, 2025 | 2.17 Bn |
| Jun 30, 2025 | 2.23 Bn |
| Mar 31, 2025 | 1.96 Bn |
| Dec 31, 2024 | 1.97 Bn |
| Sep 30, 2024 | 1.75 Bn |
| Jun 30, 2024 | 1.84 Bn |
| Mar 31, 2024 | 1.79 Bn |
| Dec 31, 2023 | 1.78 Bn |
| Sep 30, 2023 | 1.39 Bn |
| Jun 30, 2023 | 1.49 Bn |
| Mar 31, 2023 | 1.54 Bn |
API Access
Flutter Entertainment Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FLUT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "FLUT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=FLUT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();