Flutter Entertainment (FLUT) Operating Margin (2023 - 2026)
Flutter Entertainment (FLUT) posted Operating Margin of 1.84% for Q1 2026, down 66.3% on a QoQ basis from 5.45% in Q4 2025, and down 425.0% year-over-year from 0.56% in Q1 2025.
Flutter Entertainment (FLUT) Operating Margin (2023 - 2026) Analysis & Trends
Flutter Entertainment's Operating Margin history runs 4 years deep, the most recent figure standing at 1.84% for Q1 2026.
- Quarterly Operating Margin fell 425.0% year-over-year to 1.84% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 0.63% (down 740.0% YoY) and the FY2025 annual result came in at 0.22%, down 597.0% from the prior year.
- Operating Margin was 1.84% for Q1 2026 at Flutter Entertainment, down from 5.45% in the prior quarter.
- Across five years, Operating Margin topped out at 10.22% in Q2 2024 and bottomed at 21.98% in Q3 2025.
- A 4-year average of 0.59% and a median of 3.65% in 2024 frame the typical range for Operating Margin.
- Annual changes were most pronounced in 2024 — Operating Margin surged 2604 bps — and 2025, when it tumbled 2497 bps.
- Flutter Entertainment's Operating Margin stood at 18.68% in 2023, then soared by 139 bps to 7.36% in 2024, then fell by 26 bps to 5.45% in 2025, then plunged by 66 bps to 1.84% in 2026.
- Business Quant data shows FLUT's Operating Margin at 1.84% in Q1 2026, 5.45% in Q4 2025, and 21.98% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Codere Online Luxembourg | 425.84 Bn | 425.77 Bn | - | - |
| 2 | Flutter Entertainment | 19.13 Bn | 17.62 Bn | 1.84 Bn | 1.84% |
| 3 | DraftKings | 12.12 Bn | 11.11 Bn | 696.69 Mn | 0.36% |
| 4 | Super Group (SGHC) | 7.57 Bn | 7.15 Bn | - | - |
| 5 | Churchill Downs | 6.27 Bn | 6.17 Bn | 464.00 Mn | 21.57% |
| 6 | Rush Street Interactive | 3.15 Bn | 2.82 Bn | 132.17 Mn | 11.55% |
| 7 | Brightstar Lottery | 1.94 Bn | 670.63 Mn | 297.00 Mn | 40.37% |
| 8 | Accel Entertainment | 1.02 Bn | 746.37 Mn | 350.92 Mn | 7.70% |
| 9 | Inspired Entertainment | 207.07 Mn | 163.57 Mn | 54.60 Mn | 16.08% |
| 10 | Gambling.com | 58.26 Mn | 42.45 Mn | 39.34 Mn | -55.22% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.84% |
| Dec 31, 2025 | 5.45% |
| Sep 30, 2025 | -21.98% |
| Jun 30, 2025 | 9.29% |
| Mar 31, 2025 | 6.08% |
| Dec 31, 2024 | 7.36% |
| Sep 30, 2024 | 2.99% |
| Jun 30, 2024 | 10.22% |
| Mar 31, 2024 | 3.65% |
| Dec 31, 2023 | -18.68% |
| Sep 30, 2023 | -5.36% |
| Jun 30, 2023 | 7.40% |
| Mar 31, 2023 | -0.51% |