Growth Metrics

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 🔒
DateValue
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