Flutter Entertainment (FLUT) Operating Expenses (2023 - 2026)
Flutter Entertainment's (FLUT) quarterly Operating Expenses came in at $1.6 billion in Q2 2026, up 18.49% on a YoY basis from $1.3 billion in Q2 2025, and up 3.87% quarter-over-quarter from $1.5 billion in Q1 2026.
Analysis
Flutter Entertainment (FLUT) Operating Expenses (2023 - 2026) Analysis & Trends
Flutter Entertainment (FLUT) has reported Operating Expenses for 4 consecutive years, with $1.6 billion the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Expenses rose 18.49% year-over-year to $1.6 billion; the trailing twelve-month figure through Jun 2026 stood at $6.3 billion (up 23.72% YoY), and the FY2025 full-year result was $5.9 billion, up 16.9% from the prior year.
- Operating Expenses rose to $1.6 billion in Q2 2026 per FLUT's latest filing, from $1.5 billion in the prior quarter.
- Across five years, Operating Expenses topped out at $1.9 billion in Q4 2023 and bottomed at $1.1 billion in Q3 2023.
- Historically, Operating Expenses has averaged $1.4 billion across 4 years, with a median of $1.3 billion in 2024.
- The sharpest annual moves came in 2024 and 2025: Operating Expenses tumbled 30.65% in 2024, then soared 40.64% in 2025.
- Over 4 years, Operating Expenses stood at $1.9 billion in 2023, then sank by 30.65% to $1.3 billion in 2024, then advanced by 19.39% to $1.6 billion in 2025, then dropped by 3.11% to $1.6 billion in 2026.
- According to Business Quant data, Operating Expenses over the past three periods registered $1.6 billion, $1.5 billion, and $1.6 billion for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | DraftKings | 21.34 Bn | 20.35 Bn | 551.45 Mn | 491.98 Mn |
| 2 | Flutter Entertainment | 17.38 Bn | 16.20 Bn | 1.71 Bn | 1.56 Bn |
| 3 | Super Group (SGHC) | 7.08 Bn | 6.53 Bn | - | -513.00 Mn |
| 4 | Rush Street Interactive | 6.18 Bn | 6.00 Bn | 139.66 Mn | 347.55 Mn |
| 5 | Codere Online Luxembourg | 412.23 Mn | 342.98 Mn | - | - |
| 6 | Meridian Holdings | 171.67 Mn | 155.85 Mn | 26.85 Mn | 24.41 Mn |
| 7 | High Roller Technologies | 54.90 Mn | 52.24 Mn | - | - |
| 8 | VIP Play | 24.98 Mn | 24.89 Mn | -313,000.00 | 2.09 Mn |
| 9 | Apple iSports | 16.64 Mn | 16.64 Mn | - | 437,119.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.56 Bn |
| Mar 31, 2026 | 1.50 Bn |
| Dec 31, 2025 | 1.61 Bn |
| Sep 30, 2025 | 1.67 Bn |
| Jun 30, 2025 | 1.31 Bn |
| Mar 31, 2025 | 1.27 Bn |
| Dec 31, 2024 | 1.35 Bn |
| Sep 30, 2024 | 1.19 Bn |
| Jun 30, 2024 | 1.19 Bn |
| Mar 31, 2024 | 1.29 Bn |
| Dec 31, 2023 | 1.94 Bn |
| Sep 30, 2023 | 1.10 Bn |
| Jun 30, 2023 | 1.11 Bn |
| Mar 31, 2023 | 1.22 Bn |