Flutter Entertainment (FLUT) Operating Expenses (2023 - 2026)
Flutter Entertainment's (FLUT) quarterly Operating Expenses came in at $1.5 billion in Q1 2026, up 132.04% YoY from $646.0 million in Q1 2025, and down 56.63% on a QoQ basis from $3.5 billion in Q4 2025.
Flutter Entertainment (FLUT) Operating Expenses (2023 - 2026) Analysis & Trends
Flutter Entertainment (FLUT) has 4 years of Operating Expenses data on file, last reported at $1.5 billion in Q1 2026.
- Quarterly Operating Expenses rose 132.04% year-over-year to $1.5 billion in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $6.7 billion (up 75.09% YoY) and the FY2025 annual result came in at $5.9 billion, up 16.9% from the prior year.
- Operating Expenses declined to $1.5 billion in Q1 2026, from $3.5 billion in the prior quarter.
- In the past five years, Operating Expenses ranged from a high of $3.6 billion in Q4 2023 to a low of $608.0 million in Q3 2023.
- A 4-year average of $1.4 billion and a median of $1.2 billion in 2024 frame the typical range for Operating Expenses.
- Annual changes were most pronounced in 2024 — Operating Expenses plunged 62.95% — and 2025, when it jumped 156.76%.
- Tracing FLUT's Operating Expenses over 4 years: stood at $3.6 billion in 2023, then sank by 62.95% to $1.3 billion in 2024, then surged by 156.76% to $3.5 billion in 2025, then tumbled by 56.63% to $1.5 billion in 2026.
- The last three Operating Expenses figures came in at $1.5 billion (Q1 2026), $3.5 billion (Q4 2025), and $977.0 million (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Flutter Entertainment | 17.48 Bn | 15.91 Bn | 1.71 Bn | 1.56 Bn |
| 2 | DraftKings | 12.42 Bn | 11.42 Bn | 551.45 Mn | 491.98 Mn |
| 3 | Super Group (SGHC) | 6.68 Bn | 6.26 Bn | - | -470.00 Mn |
| 4 | Churchill Downs | 6.51 Bn | 6.31 Bn | 712.00 Mn | 623.00 Mn |
| 5 | Rush Street Interactive | 2.83 Bn | 2.49 Bn | 139.66 Mn | 347.55 Mn |
| 6 | Brightstar Lottery | 2.15 Bn | 877.09 Mn | 297.00 Mn | 60.00 Mn |
| 7 | Accel Entertainment | 993.49 Mn | 738.04 Mn | 115.51 Mn | 336.07 Mn |
| 8 | Codere Online Luxembourg | 416.60 Mn | 347.18 Mn | - | - |
| 9 | Inspired Entertainment | 170.71 Mn | 146.31 Mn | 52.10 Mn | 24.20 Mn |
| 10 | Grandstand | 71.71 Mn | 62.91 Mn | 31.83 Mn | -21.76 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.56 Bn |
| Mar 31, 2026 | 1.50 Bn |
| Dec 31, 2025 | 3.46 Bn |
| Sep 30, 2025 | 977.00 Mn |
| Jun 30, 2025 | 781.00 Mn |
| Mar 31, 2025 | 646.00 Mn |
| Dec 31, 2024 | 1.35 Bn |
| Sep 30, 2024 | 651.00 Mn |
| Jun 30, 2024 | 1.19 Bn |
| Mar 31, 2024 | 1.29 Bn |
| Dec 31, 2023 | 3.63 Bn |
| Sep 30, 2023 | 608.00 Mn |
| Jun 30, 2023 | 621.00 Mn |
| Mar 31, 2023 | 1.22 Bn |