Flutter Entertainment (FLUT) Operating Expenses (2014 - 2026)
Flutter Entertainment posted quarterly Operating Expenses of $792.0 million for Q1 2026, up 22.6% year-on-year from $646.0 million in Q1 2025, and up 2.99% on a QoQ basis from $769.0 million in Q4 2025.
Flutter Entertainment (FLUT) has 10 years of Operating Expenses data on file, last reported at $792.0 million in Q1 2026.
- For the quarter ending Q1 2026, Operating Expenses rose 22.6% year-over-year to $792.0 million; the trailing twelve-month figure through Mar 2026 stood at $3.3 billion (up 24.07% YoY), and the FY2025 full-year result was $3.2 billion, up 20.74% from the prior year.
- Operating Expenses for Q1 2026 stood at $792.0 million, up from $769.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $977.0 million in Q3 2025 and bottomed at $510.0 million in Q1 2023.
- The 4-year median for Operating Expenses is $651.0 million (2024), against an average of $688.8 million.
- The widest annual swing landed in 2024, when Operating Expenses increased 6.44%; it then jumped 50.08% in 2025.
- A 4-year view of Operating Expenses shows it stood at $622.0 million in 2023, then grew by 15.27% to $717.0 million in 2024, then increased by 7.25% to $769.0 million in 2025, then increased by 2.99% to $792.0 million in 2026.
- The last three Operating Expenses figures came in at $792.0 million (Q1 2026), $769.0 million (Q4 2025), and $977.0 million (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 18.39 Bn | 17.30 Bn | 1.84 Bn | 792.00 Mn |
| 2 | DraftKings | 13.23 Bn | 12.22 Bn | 696.69 Mn | 289.11 Mn |
| 3 | Churchill Downs | 6.28 Bn | 6.13 Bn | 475.00 Mn | 520.00 Mn |
| 4 | Rush Street Interactive | 2.60 Bn | 2.43 Bn | 132.17 Mn | 327.58 Mn |
| 5 | Brightstar Lottery | 2.28 Bn | 2.94 Bn | - | - |
| 6 | Accel Entertainment | 1.01 Bn | 735.58 Mn | 109.94 Mn | 324.48 Mn |
| 7 | Codere Online Luxembourg | 490.38 Mn | 420.96 Mn | - | - |
| 8 | Bragg Gaming | 269.74 Mn | 261.99 Mn | 18.22 Mn | 128.91 Mn |
| 9 | Inspired Entertainment | 233.43 Mn | 189.93 Mn | 54.60 Mn | 24.30 Mn |
| 10 | High Roller Technologies | 45.23 Mn | 42.56 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 792.00 Mn |
| Dec 31, 2025 | 769.00 Mn |
| Sep 30, 2025 | 977.00 Mn |
| Jun 30, 2025 | 781.00 Mn |
| Mar 31, 2025 | 646.00 Mn |
| Dec 31, 2024 | 717.00 Mn |
| Sep 30, 2024 | 651.00 Mn |
| Jun 30, 2024 | 661.00 Mn |
| Mar 31, 2024 | 599.00 Mn |
| Dec 31, 2023 | 622.00 Mn |
| Sep 30, 2023 | 608.00 Mn |
| Jun 30, 2023 | 621.00 Mn |
| Mar 31, 2023 | 510.00 Mn |
| Dec 31, 2019 | -284.17 Mn |
| Sep 30, 2019 | -348.74 Mn |
| Jun 30, 2019 | -289.84 Mn |
| Mar 31, 2019 | -271.87 Mn |
| Dec 31, 2018 | 33.37 Mn |
| Sep 30, 2018 | -279.03 Mn |
| Jun 30, 2018 | -239.88 Mn |
| Mar 31, 2018 | 318.40 Mn |
| Dec 31, 2017 | 307.01 Mn |
| Sep 30, 2017 | 257.84 Mn |
| Jun 30, 2017 | 243.62 Mn |
| Mar 31, 2017 | 249.31 Mn |
| Dec 31, 2016 | 263.04 Mn |
| Sep 30, 2016 | 247.92 Mn |
| Jun 30, 2016 | 247.85 Mn |
| Mar 31, 2016 | 240.66 Mn |
| Dec 31, 2015 | 275,000.00 |
| Sep 30, 2015 | 268.48 Mn |
| Jun 30, 2015 | 237.49 Mn |
| Mar 31, 2015 | 252.84 Mn |
| Sep 30, 2014 | 197.18 Mn |
| Jun 30, 2014 | 9.69 Mn |